smart spending

10 titillating tales of financial mayhem

A secret tale of fee schemes
Next
10 of 12
Back
A secret tale of fee schemes

I opened an account about a year ago with savings, checking and credit card accounts at Batty Bank -- put some money in to get started and used it for a few months with their free bill pay. I was told that there were no fees for the accounts, but a couple of months after opening the account, I was being charged fees. Apparently I was transferring money too often. I went into the bank to close the accounts, and was told that withdrawing all the money from the checking and savings accounts would effectively close the accounts. I did this and thought that everything was good.

About two months later, I got another statement from Batty Bank with more fees. Apparently at the end of the month that I withdrew all of the money, I got two pennies of interest and the account didn't close. So they charged me a fee of $10 for not having a minimum balance.

Because I didn't have the $10 in my account, they charged me another $20 to charge my credit card $100 so that the fees could be paid.

I called to complain, and after spending about two hours on the phone, they were able to reverse all of the transactions, but I did have to go back the bank to withdraw the two pennies that were left.
-- Colin, San Jose, Calif.


 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
REFINANCE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed refi 3.99%  0.03 4.02%
15 year fixed refi 3.10%  0.06 3.16%
10 year fixed refi 3.14%  0.07 3.21%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.56%  0.03 4.59%
50K FICO-based HELOC 4.07%  0.01 4.06%
100K FICO-based HELOC 3.83%  0.01 3.82%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.92% --0.00 2.92%
48 month used car loan 2.79% --0.00 2.79%
60 month new car loan 3.05% --0.00 3.05%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 1.05%  0.01 1.04%
2 Year CD 1.17% --0.00 1.17%
5 Year CD 1.70%  0.02 1.68%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.89%  0.01 15.88%
Cash Back Cards 16.43% --0.00 16.43%
Low Interest Cards 11.03% --0.00 11.03%
 
Next
advertisement
FRUGAL NEWSLETTER

Discover new ways to cut costs and save more every day. Reduce your spending, not life’s pleasures. Delivered weekly.

advertisement
Partner Center
advertisement

Connect with us