My grandmother has $200K plus in her one bank account and she just got a letter saying that the bank was going to start charging her $5 a month because it's pretty inactive. She is in an assisted living home so the money just sits there.
My dad was furious when he got the letter (he is in charge of her finances). He went right down and withdrew all the money out. They were shocked.
I would have done the same thing. That bank lost a great customer (she was a customer there for 60+ years). Shame on them.
I would have done the same thing. I'll keep it in the sock drawer before I let you charge me for you to use my money. The way things are going it might be safer in your sock drawer anyway!
I hate banks, it seems like they are charging fees for anything. Seriously, with that much money in her account they should be paying her, not the other way around.
Yeah, with that kind of money perhaps she needs to put some of it in another type of account, one that gains interest. What she needs for the next 6 months or year could then go in to a regular account.
I would have closed the account too. I don't think it's right for them to charge fees like that especially when she had that much money in the account.
Banks are getting worse and worse at doing greedy things like this. I hate that they did that to her and she's been a good customer all of these years. There is no "customer" in "customer service" these days.
I am amazed someone had the guts to even send that letter. I got a call today from a credit card company (who I already deal with), that wanted to charge me annually for a new credit card (I had applied online but was unaware of the main company involved). The lady today on the phone acted like me telling her no was the worst she had ever heard in her life.
That is one way to try and pull the wool over the eyes. I remember my grandmother used to keep her money in a safe under the floor of her house, she hated banks.
Bank fees 
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