Bank of America isn't the only financial institution exploring the debit card fee. According to an article on MSN Money, Wells Fargo is testing a $3 monthly fee for debit card users in five states. SunTrust hopped on the bandwagon and is charging some customers $5 a month, and JPMorgan is dipping its toe in the water by trying out a $3 fee in Wisconsin.
What you can do: Regardless of changes in the banking industry, cash is, and likely always will be, king. Consider withdrawing a certain amount of cash each month for your primary purchases. If you can't part with your plastic, buy gift cards at a discount from sites like GiftCardGranny.com and realize immediate savings with no charge for swiping.