Larger banks don’t have the personal touch

About three months ago, I saw advertisements for a program at one of the larger banks represented in our community. It offered a $50 gift certificate once $1,000 was deposited in a new savings account. It sounded like a good deal to me.

However, a month after I qualified, the gift card hadn't arrived. I went to the bank and although the individual teller was polite and phoned a “personal banker” for me, the message was that it could take up to six weeks.

After six weeks, I asked the personal banker how much I would owe if I had an overdraft that had been neglected for a month. About $200, I was told. I said I had been “owed” $50 for about a month as two weeks should have been a reasonable time for the bank to get the card to me. (It takes far less time to be notified of an overdraft). Of course, this was treated as a joke, then I was assured I would get the gift card within a few days.

Two weeks later, still no card.

Recently, a young friend told me the same bank charged him a late fee because his payment on the credit card he has with this bank was 25 minutes late.

I think the time has come to find someplace else to do my banking. There are local community credit organizations that not only provide far better returns on certificates of deposit, but are better at keeping their word.

Curt Moermond

Cedar Rapids