We're Gonna Getcha
I got the VISA statement for a not-for-profit for whom I do the books. The VISA account is from a large, national bank. On the statement was a late fee of $35 and a finance charge of $20 and change. I looked at my books and saw that I had mailed the check in time. I went online to the banking account we use and found out the check had never cleared. So, I assume it was lost either by our friends as USPS or at the bank’s credit card division.
I called the credit card’s customer service 888 number. The woman there really did not want to talk to me since I don’t personally have one of the organization’s credit cards even if I am the treasurer of the “company,” as she kept calling it. After some sparring about whether she would even discuss the matter with me, she told me, basically, “Tough it got lost. Not the bank’s problem. It’s yours. Service charges stand.” I tried to reason with her to no avail. So I said, and this is a quote: “Thanks for your non-help. I will be going over your head.”
I then called my personal banking representative. She was not in. So I hit “0” as requested and was transferred to another person (who knew by the transfer what the name of my representative is). I told her of the problem and the fees. She put me on hold for 30 seconds. When she came back, she told me the matter had been resolved and the late fee and finance charge would be reversed.
I next called the bank where the organization has a checking account to put a stop order on the errant check. No problem. However, I was told there was a $20 fee for a stop order. I told the representative that usually the president of the bank, who I named, waived fees for our not-for-profit. He said he would check with him and not charge us.
So, let’s review this. You send a check on time and it gets lost in transit. You are charged $55 in fees. You stop payment on the check that got lost in transit. You are charged $20 in fees. Having contacts at levels above customer service is the only way to get these fees waived.
I am sure that somewhere there is a meeting going on at each and every bank and credit card company where the full agenda is: What kind of fees can we charge and get away with?
I called the credit card’s customer service 888 number. The woman there really did not want to talk to me since I don’t personally have one of the organization’s credit cards even if I am the treasurer of the “company,” as she kept calling it. After some sparring about whether she would even discuss the matter with me, she told me, basically, “Tough it got lost. Not the bank’s problem. It’s yours. Service charges stand.” I tried to reason with her to no avail. So I said, and this is a quote: “Thanks for your non-help. I will be going over your head.”
I then called my personal banking representative. She was not in. So I hit “0” as requested and was transferred to another person (who knew by the transfer what the name of my representative is). I told her of the problem and the fees. She put me on hold for 30 seconds. When she came back, she told me the matter had been resolved and the late fee and finance charge would be reversed.
I next called the bank where the organization has a checking account to put a stop order on the errant check. No problem. However, I was told there was a $20 fee for a stop order. I told the representative that usually the president of the bank, who I named, waived fees for our not-for-profit. He said he would check with him and not charge us.
So, let’s review this. You send a check on time and it gets lost in transit. You are charged $55 in fees. You stop payment on the check that got lost in transit. You are charged $20 in fees. Having contacts at levels above customer service is the only way to get these fees waived.
I am sure that somewhere there is a meeting going on at each and every bank and credit card company where the full agenda is: What kind of fees can we charge and get away with?
posted by Bud Hirsch at 4:47 PM
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