Have you ever wondered why the bank has so many hidden charges? It seems like we are charged for every little thing we do with the bank.
I mean, it’s bad enough they use our money for their loans, they charge us for using their bank along with other interests, but why do we incur debts with the bank for not having money at given periods? Why is it that the bank representatives don’t warn us about those hidden charges?
Recently I signed up for the student loan program being offered here on campus by those Wells Fargo recruiters we see soliciting our business in front of Falcon Square.
They made their offer so appealing.
However, what they didn’t tell me was that they were going to charge me as soon as my account was empty. It didn’t matter if the account would only be empty for a couple of days. I had a small overdraft and they penalized me $5 for everyday it was overdraft. $5 for every day! Where was that in the fine print? The recruiters said the account was free! As a matter of fact, I opened it without any money in the first place.
They also charged me $2 every time I used the ATM in front of the school because my account is with Wells Fargo and the ATM is Bank of America! They even charged me for making balance inquiries! So my question for the Cerritos College administration is why is Bank of America the only available teller on campus?
Do we have an exclusive contract with them? If so, why is it that the only bank that is offering student accounts here is Wells Fargo? Shouldn’t B of A be offering us some type of student account program since we do so much business with them during school hours?
To me this is very unfair! You make only one teller available and we get double charged for using it, $2 for not using our bank teller and $1.50 for the privilege of using B of A’s services as if we prefer using their teller over our own!
Why isn’t there a teller in which everyone’s banking institution is represented so that we don’t get caught in the catch-22? Are the banks in on this together?Is it that Cerritos endorses B of A over Wells Fargo?
My suggestion is that administration make some accommodations for students who aren’t banking with B of A so that we don’t incur these extra charges, because it is wholly unfair that only those who bank with B of A can use the teller without any additional charges.
