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From: hrs@homxb.UUCP (H.SILBIGER)
Newsgroups: net.invest
Subject: Re: Problems with Benificial National Bank
Message-ID: <479@homxb.UUCP>
Date: Wed, 23-Jan-85 14:35:30 EST
Article-I.D.: homxb.479
Posted: Wed Jan 23 14:35:30 1985
Date-Received: Thu, 24-Jan-85 07:31:27 EST
References: <1012@ihuxe.UUCP>
Organization: AT&T Bell Labs, Holmdel NJ
Lines: 15


This bank seems to have other questionable practices.
I was invited to open a Visa account, and there was
to be no "Annual Fee."
A phone call confirmed that this was true, and that
there would be no interest charged if the bill
was paid before the next billing date.
It turns out however, that there is a monthly
"Activity Fee" of $ 1.50! This works out to $ 18,-
per year, which is about average.
When I called to complain, they said that they were
truthful, it was not an annual fee, and the advantage
was that if I did not use the account, there was no charge!

Herman Silbiger