If you read my blog and follow up on the many great offers that we post, then you probably are juggling a few credit cards and bank accounts. We all try to be as organized as possible, using spreadsheets, online tools like Mint.com or other services that make it easier to track all kinds of requirements and balances.
But even with all the tools available, we might make mistakes, myself included. I have a Valley National Bank checking account. They charge a $15 monthly maintenance charge when the minimum daily balance falls below $99. While doing some transfers, I miscalculated a few transactions and the balance shortly fell under $99 last month.
I send them a secured message, politely asking for a refund, explaining that I made a mistake and that the account was quickly over the $99 threshold. They refunded the service charge within four days.
I also made the same mistake a few months back with my Capital One checking account. They also have a $100 minimum balance requirement which I wasn’t aware of, even though I have had that account for many years.
Again, I sent a secure message and they refunded the fee right away. the next day.
So the lesson here it to always pay attention to minimum balances and other requirements that different institutions have. More importantly always check all you transactions daily. I do this with my Mint account. By checking daily you can notice suspicious activities or unexpected service charges as in my case. And if you do get charged such fees, then always ask for a refund. Most banks will refund at least one fee, but it doesn’t hurt to ask for a second and third time.
Let us know in the comments below if you ever made any such mistakes and what steps you took to redeem yourself.