Tuesday, February 1, 2011

What! A $10 Fee?

Just when I give a big shout out to Dollar Bank for their $1,000 giveaway, I received a statement for my extra checking account which said it has been inactive for a year so they are charging me a $10 fee which brought the balance to zero. It would have been nice if they could send a little warning like an email to let me know.

I use this checking account for my PayPal funding. I do not want to put my main checking or savings account numbers on there so I opened a special checking account to use specifically just for that and keep a very small amount in it. I didn't realize I hadn't put any money in or taken any out all year. The last time I transferred money to my PayPal account was December of 2009. Oops. I forgot I have to do something with it to avoid this fee.

The statement went on to say that a $10 fee would continue to be charged every month until I either close the account or make it active again. I immediately transferred some money into it from my regular checking. With this "Comment For Charity" project I plan on doing with my blogs, I'll be using my PayPal account to make online donations throughout the year so hopefully will not run into this problem again.

When I first read about this, I was pretty bummed out but then realized it wasn't that big a deal--less than $1 a month so that helped me keep things in perspective and I now know to make sure I use it at least once a year. I still like Dollar Bank and would love to win the $1,000 which would more than make up for this little incident.

Have you had to pay any surprise fees?

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Lin said...

While I appreciate why they are doing it, I would think a note in the mail or a phone call would have been nice as a warning. I get those with the kids' accounts--they can put money in, but they can't take it out, so they were really careful about what they put in there. Needless to say, there were months when there was no activity and the bank had to send us a note reminding us to keep the accounts open.

Heather's Blog-o-rama said...

Yeah, I would never accept a notification via email from a bank. I would want it in paper...in writing, about any rules regarding your account. I am glad that you j ust have to keep it active to avoid the fee. That's a good thing!! I just have a checking account right now..but I've also been debating opening up a second account for PayPal stuff, things I would like to purchase and maybe even sell someday!! I'm glad you have things straightened out now!! Love and hugs from Oregon, Heather :)

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