Thread Starter: Anonymous
Title: Re: Service Fee for Not Meeting Minimum Balance
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I am pounding my head against the wall with this one.
Customer opens a new savings account. Our requirement is a $50.00 opening balance. Once account is established, there is a $50.00 minimum balance requirement, or there is a $2.00 service fee.
Here's my problem: Customer opens a new savings account, but the account isn't immediately funded. Two weeks later, account is funded. Because for two weeks the account was at a zero balance, a $2.00 fee is accessed. Customer calls and we waive the fee. End of story? No.
Because the account was at $50.00, and we charged a $2.00 fee, there was a point when the account was at $48.00. Which is under the $50.00 requirement. So, they will again be charged a $2.00 fee.
In my mind, unless the customer makes another deposit, this fee/reversal scenario could play out forever? Other than a permanent fee waive, how can I fix this issue?
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