Look For This in Your Next Bank Statement
February 22, 2010 at 4:58 PM Leave a comment
There’s a post over at Daily Kos about CitiBank inserting new language in its statements:
On the latest CitiBank statement:
“Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change.”
I wonder if CitiBank is the only bank doing this. If so, it won’t be long before all the big boys to do it. If my credit union does it, I’m going to be furious. It’s wrong; it’s our money. And notice the language — apparently Citi thinks it can put a hold on a withdrawal of any amount — be it $1 or $100,000.
Wow. The more I think about it the more this feels like another foot on our neck.
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