I received a bank statement for a new savings account in which $10 in fees were deducted from my account. The reason? I did not have the specified 'minimum balance' in the account for the full month. That would be because I opened the account in the middle of the month? I went to the bank and explained this to the teller, who turned me over to the bank manager. Yes, I had to argue back and forth with the manager that I shouldn't be charged a fee for not having a minimum balance in the account for the weeks when the account didn't exist. She actually got snippy with me and acted as though it was MY fault that I didn't have the account for the whole month and that she would "override the fee this time, but would not in the future." The customer is never right these days. Seriously, this just exhausts me.
I entered a different bank and approached the teller, asking to open up a CD (certificate of deposit). I should have known by the look of horror on her face that this was not going to end well. She asked me to have a seat and that the woman at the desk on the phone would be with me shortly. Five minutes later, the woman hung up the phone and I heard whispering. Then the woman came over and said, "I'm sorry, but there isn't anyone here today who knows how to open up a CD. Could you come back tomorrow?" Well, that's a new one. No one at a bank can take my money. I suspect I could have used one of their computers to open the account myself, but there are cameras and such to prevent that.
When my son and I attended his college orientation, the bank with ATMs on campus had all sorts of promotional literature about linking your student ID card to an account at their bank. It seemed like a handy idea, being able to use your student ID directly to pay for things out of your checking account. I took my son to the local branch of the bank at home and he asked to open a checking account there and have it linked to his student ID, which was now in his possession. Blank stare. The woman said she had never heard of such a thing. Okay, well your bank is promoting this on one of the biggest campuses in America, and you are not aware of this? She asked the other five people working in the branch if they knew anything about this. None of them did. She then attempted to look up the information in all sorts of file folders. I couldn't help myself. I had to say, "Why don't you check www.(yourbank'swebsite).com?? Well, that was for consumers like me, not employers, so it was no help to her. We left without opening up the account, because no one there could figure out how to do it. Maybe their marketing people should make sure their employees are trained before advertising their great ideas?
You just can't make this stuff up!
My son' s savings account was turned over to the state of Michigan due to inactivity. We weren't notified. After much paperwork, we got the money back.
ReplyDeleteWas it a minor account? Here, they allow inactivity on those accounts.
Deletebanks? stay away .... if you can. hate them things, they never do nothing but cost. we jumped to a credit union years ago and at least break even every now and then.
ReplyDeleteThe last bank account we closed showed up 4 years later with 4 years of delinquent service fees for having 'too low' a balance. Took months to get it cleared and then only because I had paperwork. It also delayed our refinance as it messed up our credit report. slimy pigs all.
Minimum balance on a closed account? Doesn't surprise me!
Deleteyeah. we closed it but they kept it open. i figure it was kinda like a rebate, they assumed many folks would just pay rather than fight.
Deletethey paid, eventually
The left hand doesn't know what the right hand is doing. Sad! I can't imagine the bank turning away business especially for the CD. Poor organizational planning on their part not to be fully covered for their services during the bank day! Makes you want to keep your money in between the mattress and the box spring.
ReplyDeletebetty
I have considered the mattress thing!
DeleteFrom my own experience, I'd echo what Xavier said. I've been a credit union member since I got out of college. . .
ReplyDeleteWell, we do use the credit union through spouse's employer, but you can't keep all your eggs in one nest. And I have no access to it, unless I want to drive downtown, which I don't!
DeleteSounds like US banks are much worse than the British ones. Inactive accounts are turned over to the state? That would never happen here. I also couldn't see our banks being ignorant of their latest promotion.
ReplyDeleteBanks can be very variable in their customer service though. There were endless glitches when we tried opening an account at bank X but when we gave up and went to bank Y they were super-efficient. And still are.
And we've never paid a penny on any of our bank accounts, so long as they're in credit.
I had a banker admit to me that they have no interest in people who save, because it doesn't make them any money. They make their money in fees, so they push those products, and constantly add new fees to old products, like minimum balance requirements on savings accounts. Now that they've got people hooked on debit cards, they are going to start adding all sorts of fees to those.
DeleteWe don't have any fees on debit cards, unless you're using them abroad. And no fees on credit cards (except for cash withdrawals) if you pay the bill in full every month.
DeleteGosh, what a bunch of losers. And you're supposed to entrust them with your money? My mattress is looking more secure every day...
ReplyDeleteI've said it before, but customer service is dead. Banks seem to be the worst at it.
DeleteI worked in banks for about 10 years. I can assure you that it is equally as maddening working in them. The banks frequently roll out products and forget to tell their employees. There are so many rules and conditions and standards and practicing in every move you make. There are 10 sheets of paper to fill out if you just want to order a new ATM card for someone. Banking is maddening. I don't ever want to work in a bank again.
ReplyDeleteBut you can't beat banker's hours! Ha!
DeleteWell your banking stories have me shivering. Glad that I never have to go into one--just visit the ATM from time to time. My father has been battling banks for years. The charges and rules can be insane; as you said with the minimum balance fee. Goodness.
ReplyDeleteI suppose I'm turning into the old battle axe lady. I have a thing about incompetence.....I can't stand it!
Deletefor a short time about 10 years ago i worked for a bank - all of my accounts are still on staff rates & no fees....believe it or not, i did tell my local branch twice that i no longer was a staff member and that my accounts should be changed back to customer rates,- but now I'm just enjoying their generosity.
ReplyDeleteHilarious to think about, really. They probably have no idea how to change you back to customer rates!
Deletegood night, bijoux. what is wrong with people. i'll tell ya, they're crazy and then have an attitude about it. how is it that bank employees are not trained to open a CD if the main person who does it is out. actually something like this goes on in my office but not in my department. one person knows how to do something well and other people do a half-arse job when she's out but can do it. she tells them to leave it until she gets in the next day. still two people should always know the same thing. at least. stupid banks.
ReplyDeleteI don't understand it....but I hope you start posting again cuz I miss you!
DeleteBanks are really special arent they? I really avoid banks for the most part. I should make a blog post about my money hoarding problem. I keep boxes and cups of money instead of going to banks. Not sure if its smart or just pure annoyance every time I go to a bank.
ReplyDeleteI would enjoy a post about that, but I wouldn't want you to get robbed!
DeleteHey there Bijoux!
ReplyDeleteJust wanted to stop by real quick to wish you a HAPPY MOTHER'S DAY, my friend! Hope your day was AWESOME!
Can't wait to get back to blogging this week and catching up with you!
X
Had a great day, but was missing you this week! 'See' you tomorrow!
DeleteThere's a lot to be said for UnderTheMattress Savings & Loan!
ReplyDeleteI have a feeling a lot of people use them!
DeleteI hate dealing with big businesses altogether. They don't seem to care whether they keep your business or not.
ReplyDeleteYou are right, they really don't care.
DeleteI'll be succinct: Good Lord and Holy Moses. Feel free to add whatever other random biblical names feel appropriate.
ReplyDeleteWe use a credit union called Affinity Plus, and it has changed EVERYTHING for me when it comes to banking--as in, I actually have feelings about banking now. That place is amazing. I've never, in any institution anywhere, experienced such great quality customer service, etc.
Wow! It's amazing when you find a place that treats you right! We recently found a new service place to take our cars and the people are so great there, i don't mind going anymore.
DeleteMy bank (which I also rent office space from) charged me a fee for depositing too many checks! And in my business (and this was a business account), I get a lot of checks from patients and insurance companies. I told them they could get rid of that fee permanently or I'd take my business elsewhere. They removed it. Now that I've been with that bank fro more than ten years, it has improved quite a bit and they always greet me by name when I walk in.
ReplyDeleteI have never heard about a fee like that! I'm glad you were able to nip that in the bud!
DeleteWow, you've had some doozies! I used to work in banking for many years, and honestly hated opening accounts because it wasn't something I was comfortable doing. I was a teller, so sure, I'd hammer your check or help you make a deposit any day of the week (except Sunday). But I really would never have turned anyone away! That is shocking.
ReplyDeleteAt other banks I've been to, all the tellers know how to open and close any account. This was shocking.
Delete