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negotiating bank fees? #4636410
01/16/18 08:06 AM
01/16/18 08:06 AM
Joined: Aug 2011
Posts: 3,392
Chicago,IL,USA
pandus13 Offline OP
pandus13  Offline OP
Joined: Aug 2011
Posts: 3,392
Chicago,IL,USA
Hi BITOGers,

where you ever able to negotiate/waive down bank fees?

I have to put up a fight with BOA because an account i had for 8+ years dropped under minimum balance.
I don't want to keep any money with them since they don't have any advantages.


16 Golf SportWagen
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95 accent
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Re: negotiating bank fees? [Re: pandus13] #4636414
01/16/18 08:14 AM
01/16/18 08:14 AM
Joined: May 2013
Posts: 470
IL
lugNutz Offline
lugNutz  Offline
Joined: May 2013
Posts: 470
IL
Most financial institutions I have dealt with will waive a fee once every 6 months if you call them and aren't rude to them about your situation. I have had to do this before with both Chase and BofA, because they charge you a late fee if you pay after 8pm on the due date no-no


'13 Jeep Grand Cherokee Limited | 30K
'14 VW Passat 1.8T SEL Premium | 47K
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Re: negotiating bank fees? [Re: pandus13] #4636415
01/16/18 08:15 AM
01/16/18 08:15 AM
Joined: Jul 2015
Posts: 4,148
New England
madRiver Offline
madRiver  Offline
Joined: Jul 2015
Posts: 4,148
New England
Kindly explain your situation. And they likely will revert fees. TD Bank did.

Re: negotiating bank fees? [Re: pandus13] #4636419
01/16/18 08:19 AM
01/16/18 08:19 AM
Joined: Jun 2015
Posts: 4,565
New England
Virtus_Probi Offline
Virtus_Probi  Offline
Joined: Jun 2015
Posts: 4,565
New England
I think my wife complained about paying some fee after our "Platinum" or whatever status slipped when our balance dipped and got it refunded...I don't know how many times that would work, though.
She was actually in a slow process of transferring funds out of there because she was getting a better deal elsewhere, but I think we're back to being super elite status at that bank for whatever reason. She's the CPA and I let her move our common funds as she sees fit (but not my retirement accounts), she shows me the net worth statement every month to show me how we're doing overall.


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Re: negotiating bank fees? [Re: pandus13] #4636422
01/16/18 08:25 AM
01/16/18 08:25 AM
Joined: Dec 2004
Posts: 2,580
Chicago Area
opus1 Offline
opus1  Offline
Joined: Dec 2004
Posts: 2,580
Chicago Area
Yes, and it was with the evil big-bank called Chase.

I was on FLMA leave and my paycheck stopped when I ran out of PTO, which didn't take long. But the timing of the direct deposits took me almost all the way to the end of my leave time and helped me to avoid the fee until the last month when I had no more deposit activity. Literally the weekend before I went back to work I received my statement and saw the fee, so I took my FLMA paperwork in to the bank and asked the nice lady if they could waive the fee since I'd be back at work Monday and would start getting deposits and meeting the requirements of the account.

2 minutes later I had a credit on my account for that fee.

Interestingly enough, I've had fees at credit unions, aka the savior for us peons, where they absolutely refused to budge on the fee.


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Re: negotiating bank fees? [Re: pandus13] #4636440
01/16/18 08:44 AM
01/16/18 08:44 AM
Joined: Jun 2003
Posts: 18,044
Deplorable in apple valley, ca
Chris142 Offline
Chris142  Offline
Joined: Jun 2003
Posts: 18,044
Deplorable in apple valley, ca
We had no luck trying this with boA and Chase. They just pull out their paper and point to the rules

Last edited by Chris142; 01/16/18 08:44 AM.

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Re: negotiating bank fees? [Re: pandus13] #4636464
01/16/18 09:08 AM
01/16/18 09:08 AM
Joined: Mar 2016
Posts: 827
Cincinnati, OH USA
CincyDavid Offline
CincyDavid  Offline
Joined: Mar 2016
Posts: 827
Cincinnati, OH USA
Never get hit with fees...PNC for most of our banking and a couple of credit unions for low-rate loans and savings accounts to stay active in their systems.

The one thing I'm tempted to do is call some of my credit card accounts and see about lowering interest rates...I try to minimize balances carried and try to use CCs with zero-interest introductory deals if I see a big expense coming, but sometimes I have to carry a balance and would love to keep interest as low as possible.


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Re: negotiating bank fees? [Re: pandus13] #4636480
01/16/18 09:34 AM
01/16/18 09:34 AM
Joined: Oct 2011
Posts: 3,002
Chicago, IL
Brybo86 Offline
Brybo86  Offline
Joined: Oct 2011
Posts: 3,002
Chicago, IL
They absolutely can waive the fee if you call them.

When we bought our house last year Chase hit us with a $35 wire transfer fee???

Even though I pay hundreds of bills online and quickpay people for free? You charge $35 for a wire transfer?

They reimbursed the fee with no haggling, I just asked.

If they refuse to credit the fee I would take my money and close the account in a new York minute.

Last edited by Brybo86; 01/16/18 09:36 AM.

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Re: negotiating bank fees? [Re: pandus13] #4636482
01/16/18 09:34 AM
01/16/18 09:34 AM
Joined: Sep 2007
Posts: 1,063
TX, USA
JMJNet Offline
JMJNet  Offline
Joined: Sep 2007
Posts: 1,063
TX, USA
The personal banker at the banking center (assuming you are close to one) can credit the fee back with some nice explanation.
They will prefer to keep a customer than loose it.


  • 2017 Toyota Sienna
  • 1995 GMC Suburban 6.5L Turbo Diesel


Re: negotiating bank fees? [Re: pandus13] #4636493
01/16/18 09:41 AM
01/16/18 09:41 AM
Joined: Dec 2006
Posts: 8,468
Illinois
mrsilv04 Offline
mrsilv04  Offline
Joined: Dec 2006
Posts: 8,468
Illinois
Once tried to negotiate down a 24.99% rate on a store credit card (Menard's). Was never late on a payment and have a good credit score. Was flat out told "no".

So, I cancelled it right there. It was nice to be able to buy supplies for bigger projects and charge it all on one card, and it tended to make returns easier... but not at that rate.

I wouldn't fight with BOA's of the world. Find a good credit union that you can join.



2004 Silverado - on its 3rd Jasper engine in less than one year.
Re: negotiating bank fees? [Re: mrsilv04] #4636508
01/16/18 09:49 AM
01/16/18 09:49 AM
Joined: Dec 2014
Posts: 403
Minnesota
2010Civic Offline
2010Civic  Offline
Joined: Dec 2014
Posts: 403
Minnesota
Originally Posted By: mrsilv04
Once tried to negotiate down a 24.99% rate on a store credit card (Menard's). Was never late on a payment and have a good credit score. Was flat out told "no".

So, I cancelled it right there. It was nice to be able to buy supplies for bigger projects and charge it all on one card, and it tended to make returns easier... but not at that rate.

I wouldn't fight with BOA's of the world. Find a good credit union that you can join.



Just pay the cc off every month and don't worry about what the interest rate is?


2010 Honda Civic LX
Valvoline SynPower 5w-20 - Napa Gold oil filter
59,992 miles
Re: negotiating bank fees? [Re: pandus13] #4636519
01/16/18 09:55 AM
01/16/18 09:55 AM
Joined: Mar 2017
Posts: 6,986
...
PimTac Offline
PimTac  Offline
Joined: Mar 2017
Posts: 6,986
...
I got tired of all this fee factor. I donít want to pay the banks to have my money there. Ten years ago I fired Chase

https://www.schwab.com/public/schwab/banking_lending/


Charles Schwab bank. Not the brokerage, they have a bank as well. No fees. No mins. ATM fee refund at the end of each month. In other words, itís free. Iím a happy camper with them.


Cannot see signatures any longer so it doesn’t matter.
Re: negotiating bank fees? [Re: Brybo86] #4636542
01/16/18 10:22 AM
01/16/18 10:22 AM
Joined: Dec 2008
Posts: 2,407
CA
raytseng Offline
raytseng  Offline
Joined: Dec 2008
Posts: 2,407
CA
Originally Posted By: Brybo86
They absolutely can waive the fee if you call them.

When we bought our house last year Chase hit us with a $35 wire transfer fee???

Even though I pay hundreds of bills online and quickpay people for free? You charge $35 for a wire transfer?

They reimbursed the fee with no haggling, I just asked.

If they refuse to credit the fee I would take my money and close the account in a new York minute.

while your point is basically true, I would like to point out wire transfers are a different situation. You should not expect a wire fee to be waived.
Even multimillion deals expect to see the $25 to $50 wire transfer fee on the statement.
Wire is not the same as billpay or ach or quickdeposit. It is an old school immediate transfer of money that requires human agents on both sides. It is a fee for a service. This is not the same as a penalty fee charged for your mistake.

The bank did this just to finish the deal and so you wouldn't fuss.
The fact that you said you eould close your account shows they were right that you were fussing. An analogy would be like a guy who quits a competant mechanic or autoshop because they no longer give a "free" carwash with each service.

Last edited by raytseng; 01/16/18 10:34 AM.
Re: negotiating bank fees? [Re: pandus13] #4636548
01/16/18 10:26 AM
01/16/18 10:26 AM
Joined: Oct 2009
Posts: 3,690
Wet side WA
JohnnyJohnson Offline
JohnnyJohnson  Offline
Joined: Oct 2009
Posts: 3,690
Wet side WA
Originally Posted By: pandus13
Hi BITOGers,

where you ever able to negotiate/waive down bank fees?

I have to put up a fight with BOA because an account i had for 8+ years dropped under minimum balance.
I don't want to keep any money with them since they don't have any advantages.


Tell BOA to get lost find a good Credit Union.


2004 Corolla 128276
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In: EDGE EP 5W-30 Bosch 3311 122537 7-18-18
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Re: negotiating bank fees? [Re: pandus13] #4636552
01/16/18 10:30 AM
01/16/18 10:30 AM
Joined: Sep 2004
Posts: 22,119
Orlando, FL
Mr Nice Offline
Mr Nice  Offline
Joined: Sep 2004
Posts: 22,119
Orlando, FL
Customer Service will waive fees if you are nice.

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