Bye Bye BB&T Bright Banking

Dear BB&T,

You just blew it.  I've been your customer for over 20 years, and you just let a monthly fee toss all that out the window.  For the past year and a half you've been trying to put a fee on my checking account.  I've made phone calls and emails to get these $1 charges reversed since even your Relationship Manager agreed they shouldn't be there.  It was a PITA to do this every month, but I did it.

Fast forward to a couple of months ago when I received written notice that my checking account was changing to the ironically named BB&T Bright Banking.  As part of Bright Banking BB&T was offering me a new benefit of a $10 charge every cycle ($120/yr for a checking account!!!!!).  Luckily there were exceptions for:

  • Direct deposit1 OR  (<—-THIS IS ME!)
  • $1,500 avg. checking balance during the cycle OR (who in the world would leave that much in a no-interest checking account!)
  • $6,000 combined in deposit or loan balances OR (sorry but your rates suck so my $ is at the credit union and in internet banks)
  • Carrying a BB&T personal mortgage loan balance (Nope)

So, I have $50 per paycheck sent to this bank account.  I've been doing it for years, and I have an automatic transfer to ING that pulls it right back out each month too 🙂  Now I'm sure by now you noticed there was some small print attached to the direct deposit.  It reads "One monthly ACH direct deposit of $100 or greater per statement cycle."  Again no problem, right?  I have more than $100 per cycle since I'm paid bi-weekly.  Wrong.  I got hit with the $10 fee.  I of course immediately called my Relationship Manager.  I pointed out my direct deposits, and she agreed to look into it.  I called her 2 days later since she didn't call me.  She said it had to be a single ACH deposit of $100.  So, two $50 deposits won't work?  That's right.  I told her this was insane, and asked to schedule a meeting with the manager.  

SIDEBAR:  Let's take this to it's absurd extreme.  I could ostensibly make a $99 deposit every day for 30 days ($2,970) during a month, and I would still be subject to a fee due to this ridiculous rule.  Contrast that with a single $100 deposit I could make and transfer out the next day and get no fee.  Absurd.

My Relationship Manager failed again and never set the meeting so I called and set one up for myself.  I pointed out all of the logical flaws in their thinking.  He didn't care.  He reversed the fee, but said I would be subject to it in the future.  Yeah, I don't think so.  I closed that account, and oh I'm sorry to say you can kiss my Mom's $50,000 IRA goodbye too. 

John Allison would have never allowed something so irrational.  He'd be turning over in his grave, but he ain't dead yet.

Bright Banking?  Not so much…

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