I thought that there would be an old topic covering this, but I didn't find any. I can't be the only one to experience this.
Can a bank begin applying dormant account fees to an inactive account, with no notice? I had an old checking account with a minimal amount of money in it, and I stopped using it for a time. I recently began using the account again (they had to reactivate it). I discovered that at some point while the account was inactive, they began applying a dormant account fee to the account every month. When the balance of the account got below the monthly "dormant account fee", they simply stopped collecting it. It appears that they took what they could, and then went away....
I received no notice that the account was put into a "dormant" status, or that they were going to begin applying monthly fees to the account for this. This account does not send me statements; if I want a statement, I would have to log on and download it. Since I was not using the account at all, I was not logging on.
Again, is this legitimate? What laws/rules govern this?
Thanks!


