July 2019 by Don C.
We use US Bank for two commercial auto loans. We had to open a "free" checking account to be able to use the auto transfer feature, that saves us some $. The "free" checking quickly changed to small fee. The loans are for 5 years, we are a few years into them. Twice now we have received letters from US Bank telling us they will start taking fees from us because of "no activity" on this account. Every month, there are two big transactions, a deposit, and a payment for the loans. When we talked to a US bank rep, he said they need something more personal, not an electronic payment. When I asked if we had to come in, in person, he said no, we can do a check by phone or other. I said isn't that an electronic transaction? He said yes, but it's more personal. This is all just a scam to take advantage of people who's accounts may be idle because they are out of town, very old or have passed away, and can not be active on the accounts. Never mind that the banks can use the time and energy they spend trying to steal the account holders funds, to instead, make a positive contact with the account holder (or their estate) asking for a sign that they are still active. In our case, we have a loan. If we were not active, but the loan is being funded and paid, why would you try to do anything to disrupt that? It's all very shady and morally corrupt. Stay away from US Bank!
