NEW YORK (

TheStreet

) --

JPMorgan Chase

(JPM) - Get Report

has decided not to follow

Bank of America's

(BAC) - Get Report

lead and introduce new debit-card fees.

After eight months of testing, JPMorgan won't charge customers who use their debit cards to make purchases,

The Wall Street Journal

reported, citing a person familiar with the bank's plans.

Bank of America said it would begin charging early next year a

monthly fee of $5

for debit card purchases. The move generated a backlash against the bank, with many customers threatening to take their business elsewhere.

A

poll

conducted by

TheStreet

earlier this month found of the 7,000 survey-takers, 83%, or 5,868 voters, said they were "sick of being nickeled and dimed" and would stop banking with Bank of America, the nation's largest bank by assets.

Other big banks, such as

Citigroup

(C) - Get Report

and

PNC Financial

(PNC) - Get Report

, said recently they wouldn't impose monthly fees on debit cards.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here:

Joseph Woelfel

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