Below, I wrote about being forced to take out a checking account at Atlantic Bank (which is tied to New York Commercial Bank) in order to get a certain CD rate.
They said I could just put a dollar in there — which I did — and there’d be no fees and penalties on the account, it could just sit there.
Well, yesterday I got a letter saying they were charging me fees for not having two transactions a month in there — a new rule they hadn’t told me about!
And they would continue to charge fees if I didn’t make the account “transactional”!
The update is …
… I went in there today to loudly complain about this disgraceful con game. They agreed to undo the first month’s fee and also to close the checking account for good.
But when I said, “I want to make sure closing the checking account won’t affect anything with the CD rate,” you’re not going to believe what the response was.
They replied, “It already has! They’ve lowered the rate for the remainder of the CD because you didn’t have transactions in the checking account!”
I am so stunned I can barely speak.
But I can certainly write about this — again and again.