dormant account fees

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Saving money for kids made easy (NOT) by banks

Posted 1 year ago by Julie Rains

Filed Under: Personal Finance

boy with bank and cash

Last week, I closed a no-maintenance-fee account because I was charged a hefty you-haven’t-deposited-any-money-lately fee a/k/a dormant account fee. I offered to make a deposit in exchange for a fee waiver; no way was the response. I closed the account. Reading the business section a few days later, I learned that this bank finally reported higher earnings primarily due to…increases in fee income.

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