I opened an online checking and savings account with Univest Bank with an initial deposit of $50. I never finished the account application process and therefore was never given access to the online banking system. They apparantly have an account dormant policy that says if there is no account activity within 1 year then they will take $5 out of the account every month. I just found out that they were taking money from my account for 9 months ($45). (I don't think that the accounts were dormant because they were earning interest.) I called them up and asked if they would refund the money, but they said they could not. I think that this is a scam and my money should be refunded.
It is outrageous that banks would bite the hand that feeds them.
0 comments