https://www.youtube.com/watch?v=9gE_oV80L1s
So when I signed up for an account 9 years ago, you had to maintain a minimum MONTHLY balance of $1500. You go under and you get charged a fee. Ok. So this month I went under by 18.60. I then deposited $500 three days later. I thought it was a MONTHLY balance of $1500 so I thought I was fine since I had over $2500 for most of the entire month.
But I got charged $12. I called and the girl was shitty. The girl tells me she can’t reverse the fees because I had a fee reverse ONCE before (last year, but none prior to that, and I’ve been a member for NINE fucking years). I asked for a courtesy reversal, which banks do all the time. And it’s not like I was a bad customer or irresponsible. I literally went $18.60 under for 3 days.
In Feb of this year, THEY changed the rules and said it’s a DAILY balance instead of a MONTHLY daily balance. They say they sent a letter notifying people so it’s my fault. But who the fuck reads the 10 pages of FINE print they send out? And I do scan my letters. It’s not like they have it written out plainly on the first page they changed that rule. They hide it in thousands and thousands of lines of tiny text, mixed in with a million other things.
SO I am being charged $12 for being literally under by $18.60 for THREE days. Fucking assholes.
16 comments
They’re bankers. Bureaucratic nickle-and-dime’ing is what they do at night while they’re deep in REM sleep. Then they wake up and do it for real. That’s why I only ever use credit unions or prepaid cards. Banks can GFTSITAWAS. They can also suck it. And if there’s time, they can go to hell.
Yeah they’ve always been bad but it’s dramatically worse now than just 10 years ago.
Well, they have to make up for the inevitable contraction in the finance sector caused by people figuring out how badly they were screwing everyone during the great recession. Otherwise their quarterly statements might look less impressive than projected.
And the frickin’ woman was telling me how much good BofA does, like donating to charity or whatever. And I’m like- yeah, you get the money from all the FEES you charge to customers. Then spend a tiny amount on some charity, and say you are such good people. Ugh.
No way are you going to convince me BofA is a GREAT company that does OH SO WONDERFUL GOOD things.
Damn $1500 is high. Here in my country it’s just $15. And people get angry even over that even though banks pay 4% interest.
What? What country are you at?? And 4% interest?? We literally don’t even get 0.04%. Seriously. Not from BofA or the other 3 big banks that own the U.S. I’ve literally received only 16c in interest from BofA in 2017.
Exactly, $1500 is exceedingly high. That’s $1500 of YOUR money that you cannot touch at all. Money that the bank takes from you and invests it and makes billions from.
Then you shouldn’t keep an account there. What’s the point if you can’t draw so much of your own money and aren’t getting any interest. It’s like losing money.
India. I guess these are perks of having Public sector (Govt. owned) banks. Government wants financial inclusion of citizens so it pays high interest.
Public sector banks? Damn, I never knew that existed.
But I think banks /should/ pay good interest. Afterall they’re having your money which they can give on loan or invest somewhere and get high profit.
Iceland nationalized all their banks back during the recession. I dunno if that was temporary or long-term, but there’s also a lot of public support for making a similar move in the UK right now. I can never understand why anyone would think a for-profit bank makes sense.
*SHOULD but they don’t. Banks control the United States, and pretty much the rest of the world too. There’s really only a few big banks in the world that control like 80% of the world’s money.
Yes, Iceland I hear is doing great now. “I can never understand why anyone would think a for-profit bank makes sense.” Heh, well here in ‘Murica, they think it’s a GREAT idea to have a for-profit bank. Not only that, they think it’s an even GREATER idea to have a for-porfit medical system, where hospitals and doctors are literally incentivized to keep you sick and give you the most expensive treatment. Yes, that’s great. No way can that be a BAD idea can it? Naw…
I agree with Qaero.
You have options, and maybe it’s time to move your funds elseplace. Cost them interest. One of the first things they’ll ask you is why you wish to close your account, and you can explain at that point. More than likely, at that point, they will be willing to work with you. Ask them if losing a valued customer if nine years is really worth the small amount they’re being pricks over. If they say it is, take your business elsewhere. A personal visit will garner more positive results, in most cases.