UCGal: I got the same notice from Wells. It looks pretty crooked to me too.
Bearishgurl: Here is the text of the letter in question:
~ ~ ~
[Cricket’s name and addy]
Re: Your account ending in ####
We value your banking relationship and want to ensure you are aware of the changes associated with your Signature Banking account.
As included in the Notice of Change in Account Terms that you have already received, effective January 1, 2012, the minimum monthly balance required to avoid the monthly service charge on your Signature Banking account referenced above is increasing to $25,000.
Of course, this minimum balance requirement continueds to apply to your relationship balance with Union Bank. So, the fee will be waived if you maintain a minimum balance of $25,000 in any combination of Union Bank personal and business checking, savings, money market, retirement, time deposit, CD, or UnionBanc Investment Services brokerage accounts. Otherwise, the monthly service charge is $18 if you receive online statements or $20 if you receive paper statements.
Your Signature Banking account continues to offer you special discounts and savings well above the cost of the monthly service charge. Here are a few of these benefits, valued at more than $500 annually:
Monthly service charge waiver on one MoneyMarket account
Two rebates per month for ATM fees charged by other banks
No Union Bank charge for using other banks’ ATMs
Free personalized Signature Banking checks
No annual fee for Cash Reserve
$40 discount on a Safe Deposit Box
Free expedited delivery of a lost ATM or debit card
Union Bank Platinum Debit MasterCard with higher spending limits
No fee for travelers’ checks, Union Bank cashier’s checks, and personal money orders
Discounted Identity Theft Protection
Thank you for being one of our most valued customers. We look forward to continuing to help you meet your financial goals. If you have any questions about the changes to your account, or if you wish to change or inquire about other accounts, please visit your local Union Bank Relationship Banker or call us at 1-800-238-4486.
Sincerely,
Maha Madain
Senior Vice President
Consumer Products
~ ~ ~
FWIW the “above referenced account” is a Regular Checking. I also have a Time Deposit and a savings account with them, all of which total (just) over $25,000.
I wonder if it’s because I’m just using them as a piggy bank and don’t actually do daily-life transactions with these accounts?
