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Reds4Life
07-06-2005, 04:17 PM
I got my bank statement in the mail today from Fifth Third, included was a notice about hikes in the "activity fees". It seems now if you make more than 3 withdrawals during the statement period (which is 3 months for me) that you will be assessed a $1.00 per withdrawal fee for "account activity" if your average balance falls below $2,500, doesnít matter if itís a branch or ATM, you still have to pay the fee. :rolleyes: The old policy was $.50 per withdrawl if your balance was below $1,000, so they doubled the fee and increased minimum balance by 150%. It doesn't affect me because my balance is above that, but still, this is getting ridiculous. If you want to withdraw YOUR money more than once a month on average you have to pay them to do so. All of this for the whopping .5% interest they pay on savings accounts.

I think I'm going to buy a big safe and start locking my cash up at home, screw banks, and their fees. :bang:

Red Leader
07-06-2005, 04:19 PM
There are also many, many other banks you can choose to go through that will be more than happy to take your business that either don't have those rediculous charges, or would be willing to waive them if you transferred your accounts.

zombie-a-go-go
07-06-2005, 04:21 PM
Like National City.

Left 5/3rd for them, and never once regretted it.

BuckU
07-06-2005, 04:24 PM
Is this a savings or checking? If it's a savings then the objective is to get you to save your money, and by hiking up the cost and alloting only a few transactions, you save more and they boost their holdings by securing more of your funds.

Not that I agree with such a drastic change...thats why I transferred from 5/3.

RedLeader is right, try US Bank or Huntington (don't know if that one is in your area), they have a min. balance savings of $500, and, as far as I know, unless it's a minor savings, you can have unlimited withdraws

Heath
07-06-2005, 04:24 PM
I got my bank statement in the mail today from Fifth Third, included was a notice about hikes in the "activity fees". It seems now if you make more than 3 withdrawals during the statement period (which is 3 months for me) that you will be assessed a $1.00 per withdrawal fee for "account activity" if your average balance falls below $2,500, doesnít matter if itís a branch or ATM, you still have to pay the fee. :rolleyes: The old policy was $.50 per withdrawl if your balance was below $1,000, so they doubled the fee and increased minimum balance by 150%. It doesn't affect me because my balance is above that, but still, this is getting ridiculous. If you want to withdraw YOUR money more than once a month on average you have to pay them to do so. All of this for the whopping .5% interest they pay on savings accounts.

I think I'm going to buy a big safe and start locking my cash up at home, screw banks, and their fees. :bang:


look into the e53 account - esp. if you do direct deposit and use the ATM & the debit card. I use that - its great - and I get a whopping .005% interest every three months on my average daily balance.

But, it sure beats paying to bank.

Rojo
07-06-2005, 04:25 PM
Not that it helps with the the ATM charges but I've been using ING for savings. I was tired of getting a puny .5% interest while paying $5.95 in monthly fees. ING, 2%, NO FEES!

savafan
07-06-2005, 04:30 PM
Like National City.

Left 5/3rd for them, and never once regretted it.

I left Bank One for National City, and now I love banking. Bank One was charging me for using their ATM. Search for my thread on that if you're interested.

KronoRed
07-06-2005, 04:30 PM
Like National City.

Left 5/3rd for them, and never once regretted it.

Word.

Go Green

Unassisted
07-06-2005, 04:31 PM
This is how banks make their money. One of the most profitable banks in the country is Bank of America. Who has some of the highest fees of any bank in the country? You guessed it. I own stock in Bank of America, but since I don't like paying fees, I wouldn't dream of banking there. :)

Danny Serafini
07-06-2005, 04:39 PM
5/3 Bank is garbage. It's amazing just how badly the service has fallen the past few years, not to mention the fees. I finally got fed up and switched to National City last week.

Reds4Life
07-06-2005, 05:05 PM
I just checked out National City's fee schedule, it seems if you withdrawal money from an ATM or a brank more than 4 times a month it's considered excessive and you are charged $2.00 per withdrawal.

I think Rojo has the right idea, ING.

NJReds
07-06-2005, 05:20 PM
ING, 2%, NO FEES!

I use ING, too. Up to 3%.

TeamCasey
07-06-2005, 05:37 PM
If I notice a new dumb fee, I walk in and tell them that I'm closing my accounts. Seems there is a bit of flexibility, and I get "there's been a mistake, these fees don't apply to you, Ma'am." :)

This particular one was "a teller fee". I walked in and said, "Are you people kidding me?"

TeamCasey
07-06-2005, 05:38 PM
I never knew what ING was. I see commercials for it. :laugh:

Red Leader
07-06-2005, 05:43 PM
I launched a complete tirade against the branch manager at the bank we go to over one of those "teller fee" charges about two years ago. Threatened to take my business elsewhere, etc. We haven't gotten any "additional charge notices" since then.

GAC
07-06-2005, 05:45 PM
I am a member of the credit union where I work. I do alot of my banking on-line, and have been doing so for years with no problems and no fees.

The only time I get hit with fees (just like anyone else) is when I utilize an ATM out of town. It's just another way for the banks to get some more money out of you. I liken them to all those little "hidden" fees you get on your phone bill. It's $29 for local service, but after you add on all the fees/taxes, it's over $40.

I wonder how much banks pull in yearly with those ATM fees? I bet it's an astronomical number. Thank our illustrious politicians IMO. ;)

LincolnparkRed
07-06-2005, 06:02 PM
My wife and I are big fans of e-trade bank. They pay interest on our checking as long as we have direct deposit. the only downside is that there are not a lot of ATM's but there is one a block and a half away.

traderumor
07-06-2005, 06:03 PM
Not that it helps with the the ATM charges but I've been using ING for savings. I was tired of getting a puny .5% interest while paying $5.95 in monthly fees. ING, 2%, NO FEES!I'm bothered banks are getting away with .5% interest on savings but are charging 12-16 times that for their safest consumer loans (mortgages). That's reverse usury and discourages savings for the middle class.

GAC
07-06-2005, 06:04 PM
My wife and I are big fans of e-trade bank. They pay interest on our checking as long as we have direct deposit. the only downside is that there are not a lot of ATM's but there is one a block and a half away.

That's our problem too. But I still like it. It has alot of great advantages. I save alot on stamps. ;)

Jeremy Piergallini
07-06-2005, 06:13 PM
I work for a great bank that is now in the Springfield and Cincinnati area.
WesBanco has expanded to both areas, albeit in small numbers at the moment.

HotCorner
07-06-2005, 06:17 PM
For those that use National City, how easy is it to find a NC ATM? We currently bank with 5/3 but I'm tired of their fee-happy policies!

KronoRed
07-06-2005, 06:21 PM
For those that use National City, how easy is it to find a NC ATM? We currently bank with 5/3 but I'm tired of their fee-happy policies!
I see plenty of them around, just as much as 5/3

Rojo
07-06-2005, 07:03 PM
I'm bothered banks are getting away with .5% interest on savings but are charging 12-16 times that for their safest consumer loans (mortgages). That's reverse usury and discourages savings for the middle class.

Yep. Every time I hear some talking head talk about Americans lack of savings I feel like yelling at the TV.

We don't have any extra money and if we do, it makes no sense to put it into a bank.

LawFive
07-06-2005, 07:05 PM
Beware National City. I'm sure that it's employees are friendly and hard-working, but at least in commercial banking they suck. Our company was forced to migrate to NC when they bought Provident. Every day, it's something else.

If you want to see some real horror stories, Google "National City Sucks" and click on the first return. Beware though, the name of the site isn't proper for this forum.