Account Analysis Fee by US Bank and the Closed Account
With the rampant fraudulent debit/credit and bank account transactions occurring daily, I am compelled to check my bank accounts in four different banks each day. I monitor each with extreme vigilance sometimes finding fees or charges that either were not authorized or were a complete surprise. The fees that were not authorized are simply taken care of by the attendant on the other line on the phone, however the fees that are a complete surprise elicit an extreme response of anger and disgust where I feel sorry for the person who answers my call. I realize it is not their fault, however someone has to endure the wrath and then correct the issue. This brings me to today's perusal of the accounts. My US Bank Account is only used for deposits therefore, it has never had any fees assessed until today.
Running through the accounts, I viewed my US Bank account and immediately noticed that the balance was off. As I went into the account specifics I quickly noticed an Account Analysis Fee. Surely this had to be a mistake as only deposits were made into the account and all banks want to encourage deposits. I called US Bank reserved because surely this was some mistake only to find out that because of the deposits they felt the need to charge an Account Analysis Fee. I lost it and just short of swearing made it very clear that this fee must be removed immediately or my account will be closed immediately.
The poor soul at the other end of the phone proclaimed that there is nothing that could be done and that I had to go into the branch and ask them to remove the fee. Unfortunately I was in a different state than where the account was created and could not immediately go close my account. This experience has been extremely disappointing, because a bank should encourage you to place your money with them. I will be closing this account as soon as I am able to and moving it to a bank that respects my deposits.
DO NOT PAY BANK FEES!!! The banks already use your deposits to engage in fractional reserve lending in which they create money that is lent out and then they earn interest from that. They pay you a small piece of that interest in very few accounts. Fees are like water seeping into your ship and eventually your ship will sink. Plus, the bank is working for you and earning money off of your deposits!