Dormant account fees SUCK

Posted in the Clarksburg Forum

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Mary Childers

Easton, MD

#1 Jan 11, 2010
So I get the quarterly bank statements from Huntington bank where I have a custodial acct for my daughter, only to find out they have taken 5$ per month out for the last 3 months (15$ total) reducing her acct to below what they say she needs to have a "free" savings, today I will close it out what a rip-off, anyone else have this issue w/a bank?

“Honda Insight hybrid 64 mpg”

Since: Sep 09

Clarksburg, WV

#2 Jan 11, 2010
I had a savings account with just over $100 at Wesbanco. Somehow some fee reduced it just under $100, I deposited enough to get it over $100, and the next month there was a fee for having been under $100 the first time. No more interest than they pay now, you'd be better off keeping it in a jar. When I closed the account, I said they wouldn't have my pocket to pick any more, and the clerk laughed at me. It's a shame that a local bank chain has this attitude just like Wall Street does. I just joined a local credit union, and will soon be putting my IRA there too.
See www.moveyourmoney.info
Mary Childers

Easton, MD

#3 Jan 11, 2010
It seems funny to me that the "bank" legal thieves, waited until 3 quarters had passed and removed this money,without so much as a phone call or letter, shame on us letting it lay there, no wonder the banks are such wealthy institutions i may erect a large sign in reference to this and haul it around town in the back of my truck, so others may be aware, I'm sry for u liberal that they treated you w/such disrespect, thank ya for the heads up I'll be sure and not open her knew acct there, as my tolerance 4 shit is so low.
The Fine Print

United States

#4 Jan 12, 2010
They didn't steal any money from you. You need to read the fine print on the account disclosure. They have had that policy for years. Many banks have those fees on their "free" accounts. Just be more careful and READ everything or ASK questions.

“Honda Insight hybrid 64 mpg”

Since: Sep 09

Clarksburg, WV

#5 Jan 12, 2010
Legally it wasn't stealing, but it was tantamount to trickery and deception, and contrary to any sense of fair play. They ought to tell you when something is wrong or has triggered a fee, especially now when most accounts are electronic and all they need to do is send an email. Another local bank closed an inactive checking account with no notice and no fee, but I had to go in and demand the balance that was in the account. Funny how they could send the final statement, but they couldn't enclose a check. At least there was no fee that time.
Another local bank, many years ago, would call and wake me when I worked night shift and say "You're overdrawn by $3.87 (or some similar tiny sum, can you come down and deposit enough to cover it?" So I would round up some spare change and drive a couple blocks in the middle of my night to cover the check, and then, come the next statement, there was an overdrawn fee anyway. I told them not to call me any more.
If some aspect of your business practice pisses off customers enough to drive them away, you are doing something wrong, regardless of whether it is legal or in the fine print. If they want to handle my money they'd better treat me fairly instead of pulling tricks.
And then there is the notable case of Heritage Bank, formed 10 or 12 years ago, which built a new building toward the bottom of Main Street. During construction the builders found the remains of one of Clarksburg's first potteries from the early 1800's. The bank absolutely refused to allow archaeologists to study it, and bulldozed as they saw fit. So much for any heritage. They could have had a cool display case in the lobby which I would have gone to see. Instead, I never went there. They were bought out by some bancorp a few years later.
Lostmoney CitizensChoice

United States

#6 Feb 1, 2010
Another Damn Liberal wrote:
I had a savings account with just over $100 at Wesbanco. Somehow some fee reduced it just under $100, I deposited enough to get it over $100, and the next month there was a fee for having been under $100 the first time. No more interest than they pay now, you'd be better off keeping it in a jar. When I closed the account, I said they wouldn't have my pocket to pick any more, and the clerk laughed at me. It's a shame that a local bank chain has this attitude just like Wall Street does. I just joined a local credit union, and will soon be putting my IRA there too.
See www.moveyourmoney.info
The credit union is no better. I just lost $$ at Citizens Choice due to a hefty dormant account fee that was never disclosed in addition to the monthly service charged. How can they claim an account is dormant when they are routinely funneling funds... It would only be dormant if NO activity...
Lostmoney CitizensChoice

United States

#7 Feb 1, 2010
A credit union is no better. I just lost $$ at Citizens Choice due to a hefty dormant account fee that was never disclosed in addition to the monthly service charged. How can they claim an account is dormant when they are routinely funneling funds... It would only be dormant if NO activity...

Since: Jan 10

Shinnston, WV

#8 Feb 2, 2010
just save money in a jar . alot less of a hassle
Larry Cone

Ann Arbor, MI

#9 Jun 9, 2011
Yes I have lost nearly 50.00 over the last year. They said they would no longer take them out but I just looked at the june statememt and guess what. Another 5 bucks down the drain. This should be criminal.
1 post removed
zig zag

Clarksburg, WV

#11 Jul 16, 2011
Larry Cone wrote:
Yes I have lost nearly 50.00 over the last year. They said they would no longer take them out but I just looked at the june statememt and guess what. Another 5 bucks down the drain. This should be criminal.
What is criminal is that you would let these $5 a month fees get to $50. Either put enough money in your account or close it.

Huntington Bank sucks. I left them a long time ago for my credit union. I have been happy with the change.
wvavenger

Clarksburg, WV

#12 Jul 17, 2011
The Fine Print wrote:
They didn't steal any money from you. You need to read the fine print on the account disclosure. They have had that policy for years. Many banks have those fees on their "free" accounts. Just be more careful and READ everything or ASK questions.
That's right. Everyone is given the disclosures when an account it opened up, whether it be a savings or checking account. It's the law. If you don't read them, it's your fault. Also people need to read the inserts that come when they get statements or the e-mails they get, if they have electronic statements. Policies change all the time due to the government making new laws.
zig zag

Clarksburg, WV

#13 Jul 17, 2011
Yes BUT, Huntington Bank is a-holes about allot of other thing besides monthly fees.
Mark

Highland Park, IL

#14 Feb 27, 2012
I had a conversation wiht Huntington bank today...they completely drained by checking account, which I had openned with $500 after being told it was free checking, but did not use the account, and just figured my money was safe / protected by FDIC. Little did I know (paperless statements) that they started draining my account at $15 per month, until a notice came that looked like junk mail, but I finally openned, and found out I had a negative balance a couple of years later!! WHAT?!? Trust me, this will be sent to Obama's new commission on fair practices for banks if my money is not returned ASAP, I do not care what disclosure says!! I believe they did nothing in return for the fees, and acted negligently in their custodial duties to protect my assets, and therefore committed felony fraud. Can a real estate broker just use an escrow account for personal use...doubt it...
Mary Childers wrote:
So I get the quarterly bank statements from Huntington bank where I have a custodial acct for my daughter, only to find out they have taken 5$ per month out for the last 3 months (15$ total) reducing her acct to below what they say she needs to have a "free" savings, today I will close it out what a rip-off, anyone else have this issue w/a bank?

Since: Feb 12

Location hidden

#15 Feb 27, 2012
Use a credit union, they are run by members unlike banks who are run by private interests that want to take you for everything you have.
boohoo

Morgantown, WV

#16 Mar 6, 2012
it may be in the fine print but it shouldnt be. when it comes to them taking ANY of your money it should be in bold print.
girlfriend

Waupaca, WI

#17 Jun 1, 2012
I,too was ripped off by the bank at walmart in clintonville, wi. I told them to close both my accounts last feb, so when i did not receive any statement from them it did not concern me. I was away for 6 months and when i returned home i received a letter and statement from them saying that their correspondence to me was being returned. I was informed that they do not allow their mail to be forwared. Then i noticed a dorment fee charged.$2 amonth for the last 5 months!! If they had bothered to allow their mail to be forwarded I would have cought this 5 months ago. I believe they dont do this so the fees can build up! To make matters worse I was told they would refund my money IF i opened a cd with them! Even then I have no gaurantee. To answer about the fine print RU kidding me!! Banks are always changeing their policies. Do I have to read every piece of crap they send me just to avoid being ripped off? Dormant fees my ass. They should be happy to have your money.And they should be protecting it. Yes they're insured but WHO INSURES US FROM THE BANKS WHEN THEY STEAL OUR MONEY? OBAMA , are you listening???
steve

Dayton, OH

#18 Dec 10, 2012
Mary Childers wrote:
So I get the quarterly bank statements from Huntington bank where I have a custodial acct for my daughter, only to find out they have taken 5$ per month out for the last 3 months (15$ total) reducing her acct to below what they say she needs to have a "free" savings, today I will close it out what a rip-off, anyone else have this issue w/a bank?
Yep - they did it to me also... my question is - now that my savings is $0.00, does this mean I have no savings account - or, if I do, and I leave it alone again for another 24 months - will I again be charged another $5.00 "DORMANT Account Fee" - which will what??? come off my checking. I too got NO Notice!!!
anonymous in cleveland

Cleveland, OH

#19 Feb 16, 2013
Mary Childers wrote:
So I get the quarterly bank statements from Huntington bank where I have a custodial acct for my daughter, only to find out they have taken 5$ per month out for the last 3 months (15$ total) reducing her acct to below what they say she needs to have a "free" savings, today I will close it out what a rip-off, anyone else have this issue w/a bank?
Yes, I just noticed I got charged this stupid dormant fee and am closing this account today-unless they charge me a fee for closing then what?!!!! Stupid bank.

“Let's Get'em. Talladega Red 1.”

Since: Nov 12

Clarskburg, WV

#20 Feb 16, 2013
You know what you have?

White people problems.

Since: Apr 07

Nutter Fort, WV

#21 Feb 17, 2013
I never stopped to think of it before, but you know–a police–man will jest stand there an let a banker rob a farmer, or a finace man rob a workin man. But if a farmer robs a banker–you wood have a hole dern army of cops out a shooting at him. Robbery is a chapter in etiquette. You mite say that Wall St. is the St. that keeps you off Easy St. I ain’t a communist necessarily, but i been in the red all my life.

--Woody Guthrie, about 1939

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