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Published : July 10, 2008 |
Author : mnbtran
Category : Loan & Finance Companies |
Business Name : WaterMark Credit Union
Location : Seattle, Washington
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: 42 | Unrated
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When I purchased my car, the dealer got me a loan from Watermark credit union in Seattle, WA. And they required I have to open a saving account. I did so and put minimum of $25 in it to be able to get a loan. No big deal... then later, I finished paying off the loan and thought I let the saving account open there just in case in the future if I need a loan for something from them. And it's a saving account; for what it meant the money in it should be saved. I don't remember exactly how long I leave the account inactive, a year I guess; gained a dollar or 2 out of $25. Then suddenly I got an INACTIVE FEE of $3 for each month. I didn't get any letter warning about that from the bank; and the statement is sent quarterly. I didn't pay attention about that for 6 months and lost $18 dollar. I'm totally surprised and pissed when noticing it; can't believe it. Think about it: if someone ask you to open a saving account; then you put money into it then let's say you decide to save that money; don't want to touch it. Then over time, you lost money for inactive fee charge. It sounds ridiculous, doesn't it? Well, in my case, losing $18 is not a big money or screwing up my finance and $25 in saving is very small. But here I'm talking about the sense of the whole thing. And by the way, what here is also to inform you to double check with your credit or bank if you have an account that sitting inactive. I know that Capitol will close the account if it's inactive too long. That happened to me. Bank of America: it's good as long as it's not expired. |
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