Old National Bank losing my business

[Clay]

Well it took me longer than expected be today we closed all of our old national bank accounts. We moved everything over to a credit union, and Im beginning to realize I should have done this years ago anyway!

 

[Beau]

The last two months I have had a service fee show up on my Old National account. I kept putting off calling them. Well today they called me regarding some opt in/out program on overdraft protection. I asked them about this mysterious fee and that is when I found out about this minimum balance nonsense. The phone lady told me that it was mandated by the government and that they had no choice but to charge the fees. When I asked her why in the world the gov would care about how much money I had in my account and if the gov are the ones caring why does the fee get paid to Old National she had no answer. She just repeated that they had no choice.

Now I have to change a bunch of stuff around to cancel this account. I wonder how many people are doing the same thing?

 

[rmabrey]

The last two months I have had a service fee show up on my Old National account. I kept putting off calling them. Well today they called me regarding some opt in/out program on overdraft protection. I asked them about this mysterious fee and that is when I found out about this minimum balance nonsense. The phone lady told me that it was mandated by the government and that they had no choice but to charge the fees. When I asked her why in the world the gov would care about how much money I had in my account and if the gov are the ones caring why does the fee get paid to Old National she had no answer. She just repeated that they had no choice.

Now I have to change a bunch of stuff around to cancel this account. I wonder how many people are doing the same thing?

Its not government mandated cause Integra Bank doesnt do it. When I went and closed my ONB account a few weeks after I started this thread, the didnt even ask why, so im sure a lot of people did it

Now I have to move again cause Integra is trading at 29 cents a share. I dont know alot about stock trading, but when old national is trading at 11 dollars and fifth third at 13 dollars, I know enough to know trouble is on the way

 

[4sarge]

Its not government mandated cause Integra Bank doesnt do it. When I went and closed my ONB account a few weeks after I started this thread, the didnt even ask why, so im sure a lot of people did it

Now I have to move again cause Integra is trading at 29 cents a share. I dont know alot about stock trading, but when old national is trading at 11 dollars and fifth third at 13 dollars, I know enough to know trouble is on the way

Integra Bank's auditor says situation may be dire


Integra Bank's auditor says situation may be dire | 2011-02-01 | Indianapolis Business Journal | IBJ.com

 

[Hoosier9]

I bank at Chase, and have an account with direct deposit of my paycheck, so no fees or minimum balance requirement. My daughter also has the "college checking" account, also no fees or minimum balance requirements. I've been happy with Chase, and have been with them since before it was Chase (Bank One). As a matter of fact, my checks still say Bank One on them. Guess I don't write many checks!

 

[rmabrey]

I bank at Chase, and have an account with direct deposit of my paycheck, so no fees or minimum balance requirement. My daughter also has the "college checking" account, also no fees or minimum balance requirements. I've been happy with Chase, and have been with them since before it was Chase (Bank One). As a matter of fact, my checks still say Bank One on them. Guess I don't write many checks!

Thats cause only old ladies buying $4.30 worth of bread and milk write checks

 

[Beau]

I'll just be doing all of my banking out of Navy Federal Credit Union from now on. The only reason I kept the Old National account was because I still have business in Indy and it was convenient to keep it.

They may not ask but I will be including my reason with the notarized letter I have to send them in order to close my account.

 

[grimor]

I bank at Chase, and have an account with direct deposit of my paycheck, so no fees or minimum balance requirement. My daughter also has the "college checking" account, also no fees or minimum balance requirements. I've been happy with Chase, and have been with them since before it was Chase (Bank One). As a matter of fact, my checks still say Bank One on them. Guess I don't write many checks!

yup, chase all the way, even going to refinance my house with them. One of the few banks I've never had a problem with.

 

[ljadayton]

I bank at Chase, and have an account with direct deposit of my paycheck, so no fees or minimum balance requirement. My daughter also has the "college checking" account, also no fees or minimum balance requirements. I've been happy with Chase, and have been with them since before it was Chase (Bank One). As a matter of fact, my checks still say Bank One on them. Guess I don't write many checks!

I've had Chase for a few years now and have had NO problems with them. In fact, I use them for change for work (the guys at the local branch recognize me now ) when we're running low

 

[theweakerbrother]

She was lying or ill informed and you should write your state's attorney general regarding what is being discussed about your account. There is absolutely no federal mandate/law/bank code that says that you must have an "x" amount in your balance in order to prevent a fee.

What she MEANT to say is that banks have lost so much of their assets from overdraft charges being regulated that they have looked for ways to recoup their losses legally. One way is to "change the game" for their checking accounts and start creating silly rules for their free checking accounts, including but not limited to:

1. Minimum balance
2. 4 Deposits a month
3. Direct Deposit from a payroll source
4. 10 or more debit card uses per month

Or a combo of those.

These are now laws, they are individual bank policies. It will come back to bite them just like charging exorbitant amounts of fees and financing bad decision loans.

 

[PatriotPride]

I may switch to Chase. 5/3 has engaged in some monkey business and I've HAD IT with their BS.

 

[CountryBoy19]

I may switch to Chase. 5/3 has engaged in some monkey business and I've HAD IT with their BS.

Yeah 5/3 has been in the monkey business for a long time.

My wife let go of them a LONG time ago. I have never dealt with a large bank such as those in this thread (except my mortgage) so I am really glad. Small town banks and credit unions ALWAYS win when it comes to customer service, Period.

 

[bigus_D]

I am in the process of leaving old national. They used to have a nice small town feel, but now they've grown too much without keeping up with good customer service. I got hit with a $2 charge for letting my account go under $500 for one day (in over 10 years). That is why they lost my business.

I went with mega-bank chase this time. They have great online services(so far).



Edit: I am moving my personal checking, savings, business checking, and escrow holdings... Over a $2 charge. Can not believe they didn't offer a refund! Chase told me they have authority to refund $34 of charges per account per year. F.U. OLD NATIONAL!!!

 

[Sigblaster]

So, all of you people think that banks should provide their services free of charge for everyone?

 

[bigus_D]

So, all of you people think that banks should provide their services free of charge for everyone?

They make plenty of interest in my deposits! When I setup a 'no fee' account, I expect it to stat that way. Changing those terms in the fly is unacceptable.

 

[Sigblaster]

They make plenty of interest in my deposits! When I setup a 'no fee' account, I expect it to stat that way. Changing those terms in the fly is unacceptable.

And it probably would have stayed that way if the poor and incompetent hadn't begged for the government's help against those evil rich banks and their "unreasonable" fees. Now, instead of the financially inept paying for their own mistakes, we can all share the burden equally, comrade.

 

[CountryBoy19]

So, all of you people think that banks should provide their services free of charge for everyone?

Absolutely not, they have a right to charge whatever they want. And we have a right to go wherever we want for our banking services as well.

Old National offered a service, then changed things up in the middle of that service without making their customers fully aware.

I'm sorry, but if I agree with you on a business deal, and you try to screw me over on it, heck yes I'm going to take my business elsewhere.

Are you really faulting people for doing so?

 

[Sigblaster]

Absolutely not, they have a right to charge whatever they want. And we have a right to go wherever we want for our banking services as well.

Old National offered a service, then changed things up in the middle of that service without making their customers fully aware.

I'm sorry, but if I agree with you on a business deal, and you try to screw me over on it, heck yes I'm going to take my business elsewhere.

Are you really faulting people for doing so?

Not making them fully aware? They put a notice right there on the bank statement.

How are they screwing anyone over? They made a change and, from the OP, gave over a month's notice.

Hardly seems worth all the whing over a couple of bucks a month. Seriously, if your balance isn't high enough to keep from paying the fee, you are probably a liability to the bank anyway.

 

[spec4]

80 percecnt of a banks profit comes from 20 percent of its customers. Many low or no profit customers can be the biggest pain in the butt, taking up employees time, demanding free services, etc. I worked in a bank for 23 years. And yes, if you're unhappy, you should definitely leave.

 

[Hammerhead]

Back before we were married, my wife had a 5/3 account, that due to some of their monkey business, she decided to close. She had a positive balance in the account, and received her money from the bank before walking out the door.

About a month later, 5/3 started sending her "bills" for money they say she owed. So she called, and they had no account or due bill for her, no reason she should be getting a bill. She got another the next month. Another phone call, another "we don't know". She finally had to get something from them that stated that she owed them nothing. Then, several years later, she was still getting crap from them saying she owed them money. We went into a branch, they had no record, didn't know why the system was doing it. She'd even sent copies of the letter they gave her saying she owed nothing to them several times.

She got a "telegram" (it's really a letter from them written like an important correspondence) a couple of years ago. The account was closed in '98. We ignore anything from 5/3.