I received a letter in the mail the other day from a bank I used to deal with. I stopped dealing with them because it was a hassle to do so. You see, they aren't really a bank. They don't have branches and if you had an issue it was very hard to resolve. As we all know, there are always issues dealing with a bank. That is a given. But in this case, it was that much worse.
letter basically confirmed why banks are hard to deal with, even the
progressive ones like this one claimed to be. In the letter, it stated
that my account was dormant but was not closed. Of course, it should
have been closed. I withdrew every penny from that account so it would
need to be closed. But, since my timing was off, while I withdrew all
the money, somehow one cent of interest was earned and I now have a
This occurred about 10 years ago, but now it has come to their attention.
Yes, that's right. It took ten years for this to come to their
Now, they have put a person on it, spent an additional
amount of money to send me a letter and will have to have a person deal
with it again because I am ignoring it. So, to recap, they didn't even
notice for years and now have probably spent 100 bucks to try to close
an account with one penny in it!
And we wonder why they have to charge outrageous service fees to make a profit.