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Citibank.
Need I say more?
Well, I'll say a little more.
Several weeks ago, I got a letter from them, saying that my (formerly free) checking would now be incurring a $15/month fee.
Unless I kept a balance of $6000 in the account.
Six-grand.
In a non-interest-earning account.
Ummm.... no.
So I planned to bail on Citibank, and instead get a checking account through my credit union, which not only doesn't charge fees, but also pays interest.
Then a little while after that, Citibank sent out an e-mail "clarifying" their new monthly fees. They'd still have the $15 fee, but now you'd only need to maintain a $1500 balance, or do two electronic transactions during the month to waive it.
No apologies. No acknowledgement that the decision was the result of a massive outpouring of customer complaints and/or a mass exodus of those selfsame customers.
Nope. Just a "clarification".
Which begs the question... what are they going to "clarify" next month? How much is it going to cost then?
Whatever. I'd already started moving my account by then anyway, and today I finally closed it out.
The teller's response to me telling her I was closing out my account?
"Okay."
Apparently, this is becoming old hat for them. It reminded me of when I got rid of cable.
She asked once why I was closing the account, but it was obvious she couldn't have cared less. Again, just "Okay".
They're probably bleeding customers. I hope so. (That is, customers are leaving. Not that Citibank is bleeding customers dry. Although they're doing that anyway. But I digress.) I just hope this time if (or when) they go under, the stupid government doesn't bail them out again.
Funny thing, after I had decided to dump Citibank, I found out a whole bunch of others had the same idea.
I never knew I was such a trend setter.
Need I say more?
Well, I'll say a little more.
Several weeks ago, I got a letter from them, saying that my (formerly free) checking would now be incurring a $15/month fee.
Unless I kept a balance of $6000 in the account.
Six-grand.
In a non-interest-earning account.
Ummm.... no.
So I planned to bail on Citibank, and instead get a checking account through my credit union, which not only doesn't charge fees, but also pays interest.
Then a little while after that, Citibank sent out an e-mail "clarifying" their new monthly fees. They'd still have the $15 fee, but now you'd only need to maintain a $1500 balance, or do two electronic transactions during the month to waive it.
No apologies. No acknowledgement that the decision was the result of a massive outpouring of customer complaints and/or a mass exodus of those selfsame customers.
Nope. Just a "clarification".
Which begs the question... what are they going to "clarify" next month? How much is it going to cost then?
Whatever. I'd already started moving my account by then anyway, and today I finally closed it out.
The teller's response to me telling her I was closing out my account?
"Okay."
Apparently, this is becoming old hat for them. It reminded me of when I got rid of cable.
She asked once why I was closing the account, but it was obvious she couldn't have cared less. Again, just "Okay".
They're probably bleeding customers. I hope so. (That is, customers are leaving. Not that Citibank is bleeding customers dry. Although they're doing that anyway. But I digress.) I just hope this time if (or when) they go under, the stupid government doesn't bail them out again.
Funny thing, after I had decided to dump Citibank, I found out a whole bunch of others had the same idea.
I never knew I was such a trend setter.
They'd changed their name from Compass to BBVA Compass. Last summer they sent me a letter that my car insurance had the wrong bank name for payoff, so they were going to charge me $1500 for 6 months insurance if I didn't get if fixed by the 20th* Letter was dated the 1st, but the postmark was the 17th so I didn't get it until after the 20th. I was not happy, but they resolved it so I didn't close my account at that point.
Then, on 3 separate occasions, the mailing address for my account was changed. Apparently it happened because my folks where updating their address, but they're not on my account.
I'm now banking with USAA. No charge for checking, it's interest bearing, plus they rebate any ATM fees.
While I was transitioning accounts, Compass sent a letter that they were going to start charging for the checking account.
* don't recall the exact dates, but those are in the ballpark.