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Sometimes. “Maintenance” fees. “Inactivity” fees. The logic behind these are apparently that they’re polishing your coins, and I guess that since you weren’t u
by jonathankoren 8y ago
Sometimes. “Maintenance” fees. “Inactivity” fees.
The logic behind these are apparently that they’re polishing your coins, and I guess that since you weren’t using your money, the bank decided you abandoned it, and so it’s theirs now.
- wil421 8y agoIf your bank is charging you those kinds of fees it’s time to get a new bank. My credit union doesn’t charge any fees and to keep it open you need $5 in savings. Most of the time they pay me some small amount for my savings. Not to mention they have programs and loans specifically for lower income households.
- lotsofpulp 8y agoDoing business with someone, especially in a heavily regulated industry like banking, can involve lots time spent on customer service. It makes sense to me that some people's funds aren't worth it due to the lack of interest they generate versus the cost of providing customer service and additional liability. If there is profit to be made, then there should be other banks (since there are still many competing banks) willing to provide the services for free.