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Bank of America Offers Free Checking: The...

From Times Staff and Wire Service Reports

Bank of America Offers Free Checking: The state’s largest bank will offer personal checking accounts free of monthly service charges for a year to customers who persuade a friend to open a checking account. The friend will also receive a free account. Ken McEldowney, executive director of Consumer Action, a consumer group, called Bank of America’s ploy “clever marketing” but warned customers to consider how much the accounts will cost once the promotion is over. The promotion, the latest among California banks fighting for consumer loyalty, will end April 30.

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