Before I show you my adorable children I have a small rant...
The older kids wanted to start bank accounts. Hannah was first to open an account. We opened the account for her at a very large bank in America. They told us the custodial account had no minimum balance. Perfect. Just what they need to start off saving up some hard earned money. Months later we go in to start an account for Simon. Hannah made a deposit while we were there and we found out that they were taking fees out of her account and they had an incorrect address for us. Two weeks later I finally heard back from them. We were told they could only refund $15 dollars to Hannah's account when they had fined her like $40.
I was furious. How dare they steal money from a little girl who rolled effin' pennies to open a savings account!!! They hold our mortgage and I can guarantee you they are making money there! I talked to the branch manager, as calmly as possible, and he resolved it. The accounts apparently have a minimum balance requirement now. They wanted to know if we would bring the account up $300 or if we'd like to close it.
I think I'll take the money elsewhere thankyouverymuch.
I think it's awful that banks punish people for not having enough money in the bank and reward the ones that have a lot.