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banks suck. The terminology they use is not even reality.

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debtfreedude

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I emailed my long time bank with a simple question. does my savings account that pays nothing have a min required balance (Im asking because I've been moving the money out). here is their reply. the rep referred to it as a "high yield" account? LOL.  it pays 0.030%... nothing. that is why I've moved it.  not sure what my bank staff is smoking, but it must be some good stuff.

 

I appreciate you contacting us to inquire about the eSavings account and I will be happy to provide you with more information.

the yyz eSavings is a savings account that provides clients with a high yield on their investment and flexible access to the account.

 

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Ha ha ha!  That is so true!  In my job I deal with a bunch of different banks every day and the different rules they each have and the terminology they use really is special, and not in a good way.

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