Here's a funny fee that I just found out about, even though it's been in place for at least a year. So, Federal regulation, Regulation D, prohibits more than six withdrawals per month from a savings account (ATM withdrawals don't count towards the 6). Most banks will just charge an 'excess activity fee' if you go over that amount, but Bank of America charges a $3 fee if you have more than three withdrawals in a statement period. When Paul questioned why, customer service told him it was a 'deterrent fee' to discourage him from hitting the Federal limit. 'That's like giving me a speeding ticket for going 27.5 miles per hour as a deterrent so I don't go 55,' he writes. The rep was unmoved by his analogy.
Savings Excess Withdrawal Fees [factsaboutfees.bankofamerica]
"
No comments:
Post a Comment