’Cause mine just did.

If you ask me, the entire banking industry has still not recovered its reputation from the 2008 Wall Street crash.

You know, the crash that nearly brought the global economy to its knees. The crash they made that movie about where Margot Robbie explains mortgage backed securities in a bubble bath. The crash that saw millions laid off, small businesses destroyed, while the U.S. government rushed to save precious giant institutions that were “too big to fail.”

You know, that crash.

Has the banking industry EVER had a reputation that wasn’t ranked somewhere between a sewer rat and rattlesnake? That’s hard to say.

Anyway, a few months ago I wrote an article about how my stupid bank wants to charge me $15 to use my own money. Check it out here.

Basically, my bank changed their policy starting November of this year. In order to avoid a monthly service fee of $15, you must maintain a monthly average account balance of $5,000.

Prior to this policy change, it was pretty easy to avoid a monthly fee. As little as one monthly direct deposit of $200 or more was enough to prevent a tiny haircut worth a Lincoln and a Hamilton, plus a few other flexible options.

Obviously, the Federal Reserve has lowered rates recently, thus changing the financial landscape. Banks have to adapt to interest rate fluctuations, and many do by adjusting their rates. Fair enough. Business is business.

Anyway, after I received the email about the policy change, I made sure to move $5,000 into my checking account well before the deadline. The policy took effect November 1st. I moved my money over October 3rd. Plenty of time.

All’s good, says I, initiating the transfer with a few easy clicks. I was slightly annoyed by having to keep $5,000 in my checking, especially when it offers a slightly lower rate than my premium savings account (by about a percent or so). But whatever, first world problems and such, you know?

Then a week or so ago, right as my overseas vacation was winding down, I log onto my bank. And what do I find?

They’d charged me $15 anyway.

:::sad slide whistle:::

WTF? I carefully scrolled down the entire month. Had I accidentally dipped below the $5,000 average? Nope. Not one day did my account go below the big 5–0. In fact, my account fluctuated between $5K-$8K all month due to direct deposits, transfers, and such.

Of course, I immediately messaged customer servicce about this oversight. A task made impossible the first morning I tried due to their not being any “available agents.” My bank is one of the biggest brokerages in the world. They can’t afford an army of customer service warriors? Fine, whatever.

I tried later that night, and was finally able to get through. I expressed the problem. After some investigating, the agent came to the conclusion that yes, I had been accidentally charged.

But why, I ask? How did that happen? Is there another policy I’m unaware of that I transgressed? Did I miss something? What can I do to help ensure I don’t get charged again?

Their response? Absolutely no explanation. It was apparently a pure phenonomen that I was charged $15 erroneously. Like the Phoenix lights. Or the Bloop. Or the “Wow!” signal.

Hmmm, perhaps magic is real afterall. Perhaps an evil troll or gremlin snuck past my bank’s digital firewall and pilfered that $15 to buy magic beans to grow a beanstalk to the giant’s castle. It sure is a mystery.

However, the agent assured me that she “shared my frustration.” Well, thanks. I’m glad we’re all in this together. Just you, me, and a giant banking institution worth hundreds of billions. Yep, we’re arm in arm here, totally.

Long story short, my bank DID refund me the money. That fifteen dollars is now safely back in my hands, where it belongs.

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Fifteen bucks is not a lot of money. In fact, I made almost as much as that in interest just in my checking account for November.

But that’s not the point. The point is to watch your bank carefully and anyone who manages or holds your money.

You know, not long ago Wells Fargo (aka Shithead, Inc.) got caught making fake accounts without customer approval, resulting in it having to pay $3 billion in damages. Almost every week I’m reading about some new scandal some bank somewhere committed.

Let’s not forget about FTX and Celsius. Let’s not forget about the millions of people who saw their savings wiped out after the 1929 stock market crash. Let’s not forget about the Cyprus banking crisis in 2012. On and on.

People, you have to watch these banks and other financial institutions like a hawk. You have to be ever vigilant. You can’t just trust them to do the right thing. They don’t know what the “right thing” is. They didn’t even know that they had taken my money without proper cause.

Think about that. Imagine if I stole $15 out of your wallet, and when you went to confront me my excuse was “I didn’t know I took it.” And then when you went to the cops to report me the cops do nothing. That’s basically the arrangement we have with these enormous banks. We trust them to guard our money. But they’re really just looking out for themselves.

Be careful with your money. Watch your bank. Especially nowadays. Things may be “okay” for now economically. But that can change in a hurry. Times can become tough. And when times get tough, institutions can be become dangerous, wreckless, and even more dishonest than usual.