Tuesday, June 16, 2009

Fifth Third Bank- Move over Dawes Tomes Mousley Grubbs Fidelity Fiduciary Bank

In Mary Poppins, Micheal Banks goes to the bank with his father George, who actually works at the bank. George attempts to show him where his money can be put to good use, and how it can grow over time with proper investment.

Micheal is having none of that. He yells, "Give my money back"

I visited the bank today, and I too wanted to yell: "Give my money back."

Perhaps I should explain.

Fifth Third Bank (those money grubbing leeches,) has a policy that allows two free non-fifth third bank ATM withdrawals per month. after that there is a charge for each one.

I made one in April, and was charged $2.00. I made two in May and was charged $2.00 each, for a total of $4.00. What happened to the free ones?? Who knows?

OK, I get it, their policy says one thing, they do another, not the first nor the last business to do that, especially in the banking industry. But here is the grind.

The fees they charged in May, $4.00 were applied when I had $3.97 in my account, so, of course, that cause my account to go into overdraft. I was then charged a $33.00 overdraft fee.

I went to the bank today and asked them to reverse that fee, as it was caused by an action that they, the bank took, rather than an action that I myself took.

The branch manager responded that she could not reverse the fee, because they had reversed fees for me in the past.

Now, I admit that I am not the money manager that my wife is, but I have never asked the bank to reverse fees unless I felt that the fees were a result of their error.

Apparently they have a "we only admit one error" policy.

So I have a new policy: "Sorry Fifth third, I can't pay a fee for an overdraft, because I have paid in the past."

I wonder if it would work in other situations as well?

"Yes, officer, I know I was speeding, but hey, I've paid fines in the past, so I don't have to pay one now."

I mean, what the heck, once you pay the fee, it's like a get out of jail free card. If you paid for a mistake in the past, you don't have to pay next time you make one.

I understand that with the change in the way the banking industry works, banks no longer can rely on the money that they are borrowing from me to stay afloat.
But since when do they get free rein to do what they want when they want with my money, with no accountability?

It isn't enough any more to use my money for their own purposes, paying me no interest on it, and only returning it when I ask for it.
They now have to rely on fees and charges, overt or covert, hidden or blatantly thrown in my face, to pay their bills. They somehow have decided that I am interested in paying out chunks of money on their whims, just for the privilege of doing business with them.

They have complete control over my money, and I get charged an average of $18.50 per transaction and there is nothing I can do about it.

If the bank ever runs out of money, Uncle Sam, (That's Mohama Rockabama) steps in with a fistful of dollars and an empty promise of accountability that cannot be enforced, and recharges their empty pockets.

Well, enough is enough.

I'm with Micheal Banks.

Give my money back!!

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