I have held a mortgage with SunTrust for seven years, and when I took out the mortgage, I was given a free checking account as a mortgage customer of SunTrust.
Now I am being charged a $20 monthly account maintenance fee during some months, because my account balance goes below a certain level in those months. This level used to be almost my upper limit. As my income has grown, so has my balance, so now my regular balance is usually pretty healthy and only sometimes falls below a certain level.
The account was granted as a free checking account with no monthly fees, and there was never any mention of the possibility of fees due to a need to maintain a certain balance. But as my average balance has grown, I believe SunTrust has seen an opportunity to take a little extra money from me, thinking $20 here and there will not hurt me that much, because of a newly imposed minimum balance requirement.
The account is supposed to be free checking with no maintenance fees, and SunTrust has decided to change that rule and impose a fee when they want to.
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