Zions Bank has a motto:
We haven’t forgotten who keeps us in business.
Apparently they have.
I got this in the mail yesterday (redacted for privacy):
Let’s go over the highlights….
“Your account is important to us. That’s why we continually review our products to ensure our account benefits remain high, while your costs remain low.”
So you’re going to keep my costs low by taking my free checking account and charging me $7 a month to maintain it? Got it.
“To that end, we’ve streamlined all our accounts to better meet your needs.”
So the account I’ve used for over ten years, that I’ve maintained without complaint for over ten years isn’t good enough anymore? An account I have to pay for is? Got it.
Skipping to the “What Will Change” section….
“There will be a $7 monthly service fee on your account, and you can easily waive this fee by doing just ONE of the following:
- Maintain a $300 minimum daily balance, or
- Have $20+ in other account fees (excluding wire fees) during the statement cycle, or
- Use a Zions Bank credit card once during the monthly checking statement cycle
This account does not pay interest.
If you have a Statement Savings account, we’ll waive the $3 monthly service fee for that!”
So I’m moving from an interest bearing account with no fees to a non-interest bearing account with fees and this is for my benefit and… what was that line you used… “ensuring my costs remain low.”
Sorry Zions Bank. This is corporate idiocy. I get that your business environment has changed. I get you’re no longer profitable. So your answer is to make it unprofitable for me to maintain my relationship with you? Good answer.
The next time you see me, Zions, it will be to close and withdraw all of my accounts. There are plenty of other options out there that do NOT charge fees or believe in corporate lunacy. I’ve enjoyed my 15+ years with you, but good bye.
Now if you want to retract all of this and waive those fees permanently no matter what, I’m willing to listen, but you have obviously forgotten who keeps you in business. Me.