Xenocid is having a frustrating experience with US Bank. A customer service representative moved his account into a new tier, offering a free account with cash back rewards when using his debit card. Xenocid promptly received a letter saying they would start charging $25 per month for this free account.
Here’s his side of the story.
However lately when I was depositing some checks the cashier asked me why I have the simplest checking account without any extra perks? After all I had some money there and got a sizable monthly direct deposit and had a credit card with them, so I definitely qualified for their premium offerings…
Few days later I spoke with a personal banker and he happily converted my account to their premium offering, citing a cash back as one of their benefits… He looked at his screen and said that in fact I only receive cash back on my credit card transactions… It doesn’t work with my debit card at all. I have to use credit card. I said that this is not what he told me previously when he explained perks and benefits of this premium checking account. I even pointed to the booklet that HE showed me, which clearly stated that they have cash back for debit cards. He said that the booklet is old and they canceled cash back program for debit cards two years ago. I took my debit card and pointed to the “Cash Rewards” phrase printed right on its plastic surface asking does it mean “false advertising?” He parried saying that my card is old. I told him that my card was just reissued 2 weeks ago…
Two weeks later, I’ve got a letter from US Bank notifying me that I’m in fact not eligible for the “free” premium checking account and they are going to start charging me something like $25 a month for the privilege of being their client. Boy, I was mad!
The bank offered Xenocid free premium checking which included cash back rewards for using a debit card, then told him the cash back only applies to credit card usage, then told him he doesn’t qualify for the “free” aspects of the free premium checking account. This is the point where I’d move my money to another institution.
Banks and morons, part 1: US Bank
Updated June 23, 2014 and originally published May 3, 2011.