Bank of America raises check cashing fee for non-customers

We have been advised that Bank of America will assess a check cashing fee ($6.00) for payees without a Bank of America relationship starting in September 2008. If you have a checking or savings account, certificates of deposit, Individual Retirement Accounts, credit card, mortgage loan or any other type of loan (*) with Bank of America, this fee will be waived.

Below are the options to avoid the check cashing fee:

1. BWH offers direct deposit. We encourage you to enroll into the direct deposit program through Peoplesoft Employee Self Service system by click here or you can contact PHS Central Payroll department for help at 617-724-9113.

2. Bank of America offers our employees an exclusive banking benefits program Bank of America at Work® If you choose to establish a new relationship with Bank of America and have your pay directly deposited into your Bank of America checking account, you will receive a cash incentive, a no-fee checking account, plus other valuable benefits on mortgages, credit cards and other banking services. Please visit a local Bank of America banking center or visit Bank of America website for complete details.

Please take advantage of this opportunity to receive your pay directly into your account and avoid this check cashing fee. We encourage you to sign up today for direct deposit with your existing account or open a new bank account.

Sincerely,
BWH Human Resources Department

* Includes accounts with Bank of America and its affiliates or subsidiaries.