Until Jain commented on it, I had no idea that being a current student (and soon to be alumni) of Towson University would make me eligible for membership with a Credit Union. Sally posted this link about the benefits of joining a credit union verses a bank. Anyway, now the big problem (for me) is making time to run down and open an account, and then closing my checking and savings accounts at Chevy Chase Bank.

In any case, the e-mail from Chevy Chase I recieved yesterday afternoon pretty much sealed the deal for me.

Please be advised that when payments are presented for payment, the higher dollar transactions are submitted first. This is done so that the more important payments will be paid rather than returned due to insufficient funds. It was brought to our attention that our customers would rather see their mortgage payment be paid rather one or two of their smaller payments.

Our records show that your account has already received a courtesy refund request during the last 12 months. We are only able to submit a refund request one time unless a bank error caused a fee to be assessed. We sympathize with your aggravation over being assessed a fee for overdrawing your account. Fees of this nature are standard throughout the banking industry and offset the cost of the special handling these items require.

Actually, they’ve given me two NSF refunds in the last twelve months, but the explanation offered in the first paragraph is bullshit. If the bank is going to pay the checks, what matter does it make what order they go through in? Anyway, my response:

I’m not aggrivated by being charged ONE fee. I was charged THREE. If the checks had been processed in the reverse order, I would only have been charged ONE fee, which is why I requested that the other two be dropped.

I don’t understand something said in your previous e-mail. You’re charging NSF fees because the bank is paying the checks. Since the bank is covering the checks, the only explanation I can find for the order they’re paid is that Chevy Chase is hoping that the consumer will bounce as many checks as possible. Explain it away how you like, you’re not going to make it sound like anything other than usury.

I thought about adding the line “I’ll be closing my accounts as soon as possible”, but the awful truth is that, with $150 in my account, I’m still waiting for my rent check to go through. And, no, I won’t be contesting that NSF fee. Anyway, so I’ll wait until rent is taken care of that I add that bit.