BANKS ARE NOT YOUR FRIENDS.
I'm pissed off with Citibank right now because after foolishly losing so much money to them for a longgggg time without knowing it, they're trying to repeat the whole thing again!
To cut the long story short, I realised one day that Citibank had been deducting $10 every month from my savings to pay for their "account servicing fee".
Because this was designated as my emergency savings account, I basically just parked the money inside and didn't bother checking my monthly bank statements since I didn't touch the money at all.
One fine day I decided to just open up one of my bank statements and realised that $10 had been deducted!
Then I went back to check my other records and realised I HAD BEEN STUPIDLY ALLOWING THEM TO DEDUCT $10 from my account EVERY SINGLE MONTH for a super duper long time!!
Mind you, they paid me 2 cents every month in interest while they deducted $10 from me. WOW, that kind of good deal, I also want!
I lose a few hundred dollars to them because I was so naive and trusted that my money would be safe with them even if I didn't touch it.
What a fool. So after paying these hundreds in "tuition fees" to learn that BANKS ARE NOT MY FRIENDS, I decided that never again will I let a bank take money from me in this way.
So please, remember to check your monthly bank statements no matter what!
They've now TRIPLED their minimum banking sum.
They've also INCREASED THEIR MONTHLY ACCOUNT SERVICING FEE BY 50%!
This is frankly quite ridiculous if you asked me. There's no reason why I should park such a big sum of money in their account when it pays me peanuts for interest. My money would be better off in my other high-yield saving accounts instead which pay me 3% or more every month.
So I decided that enough was enough, and I didn't want to bank with them anymore. Thus began my journey to cancel my account.
And it has been extremely frustrating trying to get this simple deed done. A lot of the branches I went to said they can't do it since they aren't full-service branches. They also closed down the branch nearest to my place recently, while their closest one in town only opens till 3.30pm on weekdays. Errr, aren't you supposed to be servicing the working crowd?
I've only a few weeks more before the higher service fees kick in, so this is a mad rush against time to close it quick!
All because I trusted them enough to let my account sit there, so all of this happened under my nose since I didn't check.
Has this happened to any of you guys before? #dayrefinance
Update: FINALLY CLOSED MY CITIBANK ACCOUNT YASSSSSS! Time to put my money elsewhere!
