The other day, I was looking over my checking account at this bank. We will call it Cha-cha. The last few months, without any warning or to my knowledge, they were charging me $12 a month because I did not meet some fairly stringent requirements, like setting up direct deposit, having $1,500 or more at every second, or having more than $2,500. Leeching away like a parasite.
Keep in mind that I have two other checking accounts at two different banks with no fees whatsoever. I first went to a bank teller, who was able to refund only one month out of so many. Very forgiving, huh? All of this upset me greatly, and I scheduled an appointment with a banker (because the bank made it very hard to close out an account any other way).
I told the banker that I shouldn't be paying a subscription fee of $144 a year to keep my money in an account, and then closed out my account, and deposited it in my other account. Maybe I'll start investing with that money, instead of giving it to a bank that's making money off of my money by lending it out to people at exorbitant interest rates. The account pays no interest either, and I've probably lost a good deal to inflation too already.
Who do some banks think they are, not only charge people a subscription fee to store THEIR money without informing them whatsoever, but to also force people to tip-toe and feel uncomfortable about making decisions with their own money? My mental energy is far more important than worrying about some stupid fees that other banks don't charge. Even the fee is trivial, but I'd like to make decisions myself about where my money goes, rather than being pressured and poked into using it how someone else wants.
I'm sure them losing my business means nothing to them, but I don't care. I did this out of principle. And I know that when many more people start having more principles and a backbone and standing up to this idiocy and mistreatment that so many people have gotten used to and compliant with, these banks and other companies are going to start rethinking their strategy of thinking of supposed “less wealthy” clients as pushovers.