Yesterday, I checked one of my bank accounts. This particular account does not have a pass book and is only on-line. It is a virtual account. When I checked it, I found that there was a $5 fee for transferring money out. Interesting that there is no fee for putting money in since the work is the same. $5 for a transfer of little over $100! Oh my. Now, apparently since the account was opened, the rules changed and the account must now have $25,000 in order to avoid fees. I do not remember receiving notification about this but it could have happened. I would never have believed that a high interest account (interest is 1.2%-that is now considered high interest) could pay so little and charge so much.
Who could believe that banking institutions that earn so much money already want more?
Thursday, January 5, 2012
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