SunTrust bank $3.50 "Account Analysis Fee" you are NOT going to believe this

[underpants]

So I got the May statement for one of our petty cash accounts at work. I did the normal reconciliation and was off by $3.50. Huh???

Now we actually still pay a fee every month (that's a whole other story) so in the same section it says
$3.50 ACCOUNT ANALYSIS FEE

I called SunTrust today.

"What is this and can I get it back?"
After a brief hold I was told that is a "currency fee".

A what? "Sir it's a fee from April for going into a branch and requesting rolled coins"



"Well I didn't. I'm the only person here who goes to the bank. You couldn't know what account anyone else was dealing with if they just walked in asked for rolled coins."

They are putting the $3.50 back in the account tomorrow.

IT'S A BANK!!! Isn't handling money WHAT THEY DO?!??

[Wounded Bear]

1. They do electronic money...

that old paper/coin shit is so 20th Century.

I use a local Credit Union. I'd recommend it to anyone if you can do it. In my state we have a couple open to th general public, so I went there before the recent crisis.

[Lee-Lee]

2. Local credit union. Local credit union. Local credit union

Escape for profit banking and you will discover a much better way of doing business.

[QED]

6. I can't agree more.

My CU rebates a certain amount to us each year - I think mine was around $50 last year. I just have direct deposit and a small savings account. My balances are small in the scheme of things.

Any time I actually go to the bank they are welcoming, helpful, and fast.

[whistler162]

11. Might want to include local credit union...

free money counting at mine, using the same machines in a few grocery stores.

[ProfessorGAC]

14. I Was On the Board For A CU For A Long Time

About a $100 million dollar community chartered CU, but with a pretty extensive list of SEGs. I believe i was on the board from 1992 to 2011, and was an officer (secretary) for about the last 6, maybe 7 years.

I never regretted the volunteer time i spent.

[Orrex]

3. Some banks won't give rolled coins except to account holders

And they verify your account number before doing so.

I tried to get change for a $50 at a Huntington branch, and they wouldn't do it unless I opened an account.

[SoCalNative]

4. It's not about handling money

it's about going into a branch for services as opposed to using the ATM. Depending on the type of account that you have, many banks now charge for the privilege of going into a bank and speaking with a human teller rather than conducting all of your business via their automatic ones.

[underpants]

7. Well that's not what they told me

They only charged us on one of our two accounts.

Thanks, I obviously was not aware of that.

[athena]

5. This sort of thing needs to be regulated.

Just talking to a human being is starting to become a luxury we have to pay extra fees for. Banks are the worst offenders. I had a bank account that charged me $15 a month if I didn't maintain an average balance of $1,500. I finally had it changed to one that charges something like $7.50 a month if I don't maintain an average balance of $500. But with this new set-up, I get charged $5 - $7 if I use an ATM that does not have the bank's own name on it. They're pushing the limits to see what they can get away with. And with this administration, there really is nothing they won't get away with.

[muriel_volestrangler]

8. Remember that they had originally lied about the fee

Coin or currency handling is not 'account analysis'. So it seems they made things up twice.

[The River]

9. I've Been Using a CU

in Virginia for almost 40 years now. Zero fees in all that time.
I live 3000 miles away now but still use the accounts.
I have small local account for local bills and cash as needed.

[BSdetect]

10. Yes, Credit Unions are far better.

[Mosby]

12. banks charge for depositing cash

If you use a sealed deposit bag and drop it in the depository they won't charge you but if you go in and have a teller do the deposit right then there will be a monthly charge depending on the number of times. For me it was usually 15-25 per month.

Eta I noticed this fee at my last two jobs, two different banks. I complained about it at the second one and got them to stop. I have never heard of a fee for getting change.

[voteearlyvoteoften]

13. SunTrust is one of the better banks

Did not get in trouble lending to the unqualified in the run up to 2008