I think you have a valid point, rick. I don't think it's exactly "usury", but clearly the bank(s) is (are) making a profit off of the depositors who are least able to pay, and obviously to the benefit of those depositors who can afford to maintain a minimum balance and a second account - like Scoutgal.
So what's your solution, my friend? If the bank goes down, what happens to Scout's money?
The minimum balance required is $100.00 and I must have at least $25.00 in my savings account. Not huge amounts of money, and doable for most of the people. This was, as
Kap17 said, the contract Mr. Scoutgal and I signed with BofA. The
first thing my father taught me about business and banking is to read anything and understand the terms
before signing. If the terms aren't what you want, take your business somewhere else.
