I initially had a basic checking account my bank with a really low minimum balance requirement. Over time as cash accumulated in the account, they automatically bumped me up to a higher tier which had a $10000 minimum balance requirement!
While randomly going through the schedule of fee for my account (yes I have kooky hobbies), I found out that if I don't maintain minimum amount in my account, I will be charged a monthly fee which runs into a few hundred dollars a year!
So without you doing anything explicitly , you get slotted into a high maintenance account category , but you are not automatically slotted back to a lower tier for failing to maintain balance.
Wile E. Coyote would be proud.
Submitted January 09, 2019 at 08:20PM by red__what http://bit.ly/2FhY0QL
