New York Commercial Bank, Go Screw Yourself!

Categories: Advice

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Last year, when I took out a CD at Atlantic Bank (part of New York Commercial Bank), they told me I had to also start a checking account there to get the CD rate.

They said, "It can just be one dollar in there," while assuring me repeatedly that there would be no transactions required and no fees on the account.

(I made them swear up and down on that because I'm extremely wary of such tricks, having dealt with bank shadiness before.)

So I put in a buck and rested comfortably.

Well, I just got a letter saying that my checking account was overdrawn!

I called the bank in a panic and they explained that the rules have changed and now they will charge my checking account $10 a month unless there's some activity in there at least twice that month!

I owe them nine dollars for this month!

This even though I never wanted the checking account in the first place, never got checks or an ATM card, and was bamboozled into starting the account with the lie that it wouldn't cost me anything.

Fuck you, New York Commercial Bank.

Was screwing me out of some glorified chump change worth losing a customer (and a lot of my readers) over it?

Occupy Wall Street, when you get a minute, you might want to head over to their headquarters and stick your tongues out.


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20 comments
Slingbum
Slingbum

I worked for a large bank in NJ several years ago.  I spent the first couple weeks watching videos about illegal activities for banks.  One was a practice called tying, which was the bullshit you were subjected to.  Tying is requiring a customer to open an account in exchange for receiving another bank service.  I wonder if tying has been rercently legalizeed.

Savannah Montgomery
Savannah Montgomery

I hate to say this...but..Citibank is starting to seem to be the "friendliest" big bank out there...and I've had my beefs with them also...I've had an account there over 20 yrs.

rolph
rolph

They pull the same "takeout a checking account to get a CD" crap, so watch out for themtoo.

Melinda9
Melinda9

I remember my daughter had $1000 in a passbook savings account (she was a child), and after like 3 years, I had the interest updated and it was $8.

Musto
Musto

PS; The bank is called Atlantic Bank and they're part of New York Commercial Bank, so I'll adjust the headline.

Musto
Musto

Update: I just went in there and complained loudly. They agreedto revoke the $10 fee and also to close the checking account. I said, “But howdo I know you won’t mess with the CD rate now that I’ve closed the checkingaccount?” She said, “They already HAVE lowered the rate! Because you didn’tmake any transactions in the checking account, they’ve lowered your CD rate.”Unbelievable. I am in so much shock.

Vsanders
Vsanders

Call the New York State Banking Department and COMPLAIN!

Melinda9
Melinda9

The surreal world of banking. 'Give us your money for years on end and we'll give you a 3% interest rate. You're welcome.'

Melinda9
Melinda9

Bank employees are like cops; they lie because there are no consequences for doing it. They may have monthly goals they need to meet, so they'll say anything to get you to open a cd or whatever. And then what they told you suddenly stops being true.

yikes
yikes

I had the same experience with Bank of America but they charged me 100 dollars and never sent me the statements until they took out 150 dollars from my account. Please do that to Bank of America as well.

Quills
Quills

Yeah, but if you pull out a CD, you get charged a penalty so they have you by the balls.

Bamaguy1024
Bamaguy1024

Intolerable. The banks have amassed so much wealth that they just thumb their noses at their little depositors. It is just overwhelming GREED that we should not stand for anymore. Pull out your money from these banks immediately.

Tana Tymesen
Tana Tymesen

Okay, okay. I know this is some shady dealing. But, to play Devil's Advocate, rules HAVE recently changed. Very recently. Recently enough that they wouldn't have told you about them (because they weren't in place) last year, when you opened that account. That said, before you were overdrawn, they should have sent you a letter notifying you of that change. I'd fight this, HARD, and demand that fee be taken off, then close your account. "Free checking" is no longer free, nor will it be (fees that banks have to pay for things like debit transactions are being raised, which means banks are going to find a way to recoup revenue by passing fees down to us), and while most community banks have vowed to fight this, many are simply acquiescing. Give them hell for this!

Quills
Quills

It's VERY appalling that they don't give warning of the "new rule." They simply say "Your account is overdrawn." Really terrible way to do business.

mYtY
mYtY

my bank pulled the same

Savannah Montgomery
Savannah Montgomery

And I'll bet they were "shocked" that you don't spend your entire day, everyday poring over their rules and regulations

Musto
Musto

They never gave me rules and regulations on that account, and now I know why.

Benjithehunted
Benjithehunted

And they wonder why the American populace is disgruntled by the powers that be. This is awful.

Bespoke
Bespoke

Very shady! I never even heard of this bank and now I know why.

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