Bank fees seem to be out of control these days.
The big financial institutions seem to find a way to charge customers for just about everything and the person who wrote this story decided they’d had enough.
Check out how decided to get a little bit of petty revenge on their bank. We think you’ll love it!
Account closing fee? Ok, leave my account open, forever.
“A long time ago I worked at a company that gave me a retirement account through Fidelity. I eventually changed jobs to a different company that provided a retirement account through another provider.
So I call up Fidelity to roll my old account funds into my new one. Fidelity can do that for me, but there is a $50 account closing fee.
Why do they have an account closing fee? Because **** me. That’s why.
I tried to be clever and say leave $1 in the account, but they require a $50 minimum in case you do want to close at a later date.
Cue malicious compliance. Ok, roll over all my funds except for $50. Keep the account open. Send me quarterly updates on my $50. Invest it. Make it grow.
I now have a tradition, once a year I call Fidelity to transfer over all but $50 of my account balance, usually just a check for a few $. By this point, I’ve cost them way more than $50 of service, postage, and checks they mail to me, but I still have a few decades to retirement.
Let’s see how much I can cost them before they give me my $50. I’ll go to my grave with that account still open if it means Fidelity never gets the account closing fee.
Why? Because **** them.”
Let’s see how people reacted to this story.
This person has a good idea of how they can celebrate this.
Another individual does something similar.
And this Reddit user compared it to a digital bonsai tree.
The idea that somebody would charge you to close your account is nuts.
Good for this person!