united-states banking fees
Late promotional bonus and monthly service charge on bank checking account in US
<p>Checking account was opened in June 2017 with following terms and conditions:</p>
<blockquote>
<p>Maintain average balance of $1500 or else there will be monthly charges of $11.</p>
</blockquote>
<p>While opening the account, I had a promotion which was applied by the banker. That promotion would give me a cash bonus of $200 when certain conditions (direct deposit, etc) are met.</p>
<p>This December 2020, I received a mail stating that my same account had been credited with cash bonus that I was supposed to receive back in 2017.</p>
<p>In Dec 2019, the average account balance dropped below $1500 to $1301 and since then $11 were charged monthly on my account. I barely used this account since then as it was not my primary account.</p>
<p>Hence, I didn't care to login and keep tabs on the statements (my fault).</p>
<p>One scenario is -</p>
<blockquote>
<p>If I had $200 cash bonus credited on time, my account will stay afloat above $1500 monthly average and there wouldn't be a monthly charge of $11 for 12 straight months</p>
</blockquote>
<ul>
<li>What are my chances/options on dealing with bank to get all the
monthly charges reversed?</li>
<li>Can I leverage bank's fault on late deposit
of case bonus to reverse the monthly charges?</li>
</ul>

<p>The charge will apply based on the actual balance of the account in any given month, not on what the balance would have been had they given you a create that you in theory should have gotten. You probably do not have legal recourse to make them reverse the charge.</p>
<p>But customer service people often have discretion to waive such charges, and if you explain the situation to one, they might choose to waive those $11 charges as a matter of good will. Or they might not, depending on the bank's policy.</p>
<p>You <strong>might</strong> have a claim for breech of contract on the late payment of the 200 incentive, depending on the exact wording of any documents involved. But the bank probably wrote the documents so that no specific date was promised for the $200.</p>
