Bad Technology fees galore for no good reason
by Andy Flagg, Publication Date: Monday, February 10, 2020
View Count: 548, Keywords: Technology Fees, Banking, ATM, Both sides, Double Indemnity, Hashtags: #TechnologyFees #Banking #ATM #Bothsides #DoubleIndemnity
Its funny just watching my friends and family, and now including myself, technology fees for not being active in one's accounts. ATM fees on both sides of the equation, up to $20 dollars on any amount. $10 on one side and $10 on the other side. It use to be $2-4 and now it just keeps going up.
Wells Fargo just charged me a $25 inactivity fee on my credit card account that I have had for 18 years, and use about once every 3-4 months. Crazy. Just stupid. I would never charge my clients for inactivity. Big mistake Wells Fargo, again!
Try to be positive and smile. The people in support and customer service are real peopple too so try to be nice to them those on the front line who have no control over corporate policies and procedures per se, yet for some reason, either their computers, policies and management just don't get it. Alas, Just close the accounts and move on. They will never learn.
There was a time when terms were much friendlier and double indemnity and other good clauses were in your account configuration for good account status, in great standing for years and years, decades and decades. Now, if you don't do as they say, they raise your rates, increase your fees, unlink your accounts, create new accounts to meet their quotas without your permission, renew and rewrite your contracts without your signature (terms subject to change without notice), halve your credit lines, and more. It's okay, not. It's just the way of finance. I bet they hope you will just pay the fee and not notice nor care.
I look forward to filing this one with the BBB. I would never charge my clients a fee for inactivity on an account.
more to come...
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