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Complaint Details
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Initial Complaint
05/26/2023
- Complaint Type:
- Billing Issues
- Status:
- Resolved
Caro Federal Credit Union charged a $10 monthly dormant account fee without any prior notice of this practice. How can they take money out of my account without my consent or at the very least a notice. Additionally how can a financial company implement a fee to force their members into account activity? I would like to be reimbursed $40 for the $10 account fee that was charged in January, February, March, and April of this year.
Business response
05/26/2023
Hello,
Caro's disclosures do notify members that a monthly dormant fee of $10 will be charged if the account has no activity for 12 months. Caro makes it easy for accounts to remain active and any minimum activity will active the account.
At 9:06 p.m. on May 25, Mr. ******* also sent a secured message via our digital banking platform.
The staff member managing those messages this morning had already refunded the requested fees and suggested the member do a small transactions very 6 months to avoid this in the future.
Customer response
05/26/2023
Better Business Bureau:
I spoke with a representative today and they reimbursed the fees. Thank you.
Sincerely,
**** *******Initial Complaint
01/20/2022
- Complaint Type:
- Customer Service Issues
- Status:
- Answered
Although I closed my account in 2021, Caro keeps sending paper statements, showing a balance of $0.Business response
03/04/2022
Business Response /* (1000, 5, 2022/01/25) */ ****** ******** opened an account with our Credit Union in 2015 with a deposit of several checks He never used his account or had any transactions. In 2021 he opened one of the statements he had been receiving monthly over the 6 years he had the account. He filed a complaint that we had taken his money. After one year of no activity dormant account fees began. We refunded all fees in good faith, and he closed his account on 5-21-2021. We are required to send a statement through year end after an account is closed. This is standard practice and is meant to ensure members review their statements for any discrepancies or the account was closed without their knowledge. He will no longer receive any statements as the last year end statement was sent in 12-2021.
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Get a QuoteCustomer Complaints Summary
2 total complaints in the last 3 years.
1 complaints closed in the last 12 months.