Thursday, February 28, 2013

Ask for Fees to be Refunded!

It has been my experience that it isn't that difficult to ask for fees to be refunded, even when they are legitimate fees.

Here is my example from this morning:

I signed up for a checking account from Citizen's Bank for the $125 sign up bonus.  There is a $9.99 fee associated with the account unless you have 5 transactions a month.  Therefore, I go in once a month and withdraw $20 5 times and immediately deposit $100 so that I don't incur a fee.

This morning I noticed that I was charged a $9.99 service fee.  I went over to ask why and it turns out that the 5 transactions are not based on the beginning and end of the month (ie - 5 transactions in February), rather it's based on your billing cycle and mine starts and ends on the 14th.

I had never been explained this, but it was in the details of the brochure I was given and didn't read carefully enough.  I asked if they could make a one time adjustment and they refunded my money without any trouble.  I then proceeded to withdraw $20 5 times and deposit $100 right in front of him ;)

The moral of the story is to ask for fees to be refunded, even if they are legitimate.   The worst that can happen is that they say no.