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The greatest complaint and email response from a bank.

This is comes via my colleague, Justin K.  I took his contact info out because he doesn’t want his local bank teller to know he has a crush on her…and something about identity theft, etc.

Justin’s email to the bank

To whomever it may concern,

Let me make this very clear. I will not be paying “Maintenance Fees” for my investment account. Ever again.
I did not agree to a maintenance fee when I opened my investment account several years ago and I will not have one imposed upon me by a terribly run company like Merrill Lynch.

This company is only around because of a gigantic bailout thrust upon the people of this country without their consent and against their wishes.

I will not be used to help repair your awful balance sheet. You have until Friday, April 15 to refund the quarterly maintenance fee you just took out of my investment account. You will also make sure that i never pay one again.

If you do not, I will leave your company and will never come back. I will tell friends and family to never bank with your company as well. I find this whole situation unfortunate because up until the acquisition of Merrill Lynch, I have found my experience with your bank to be completely satisfactory. I like the people at my local branch, especially the young woman at the desk I see every time I visit the ATM, who is always helpful (Park Ave & 25th).

I have already opened a checking account with Chase and find the location – 2 blocks from my office – to be extremely convenient. I have also spoken to a representative at TD Ameritrade about moving over my entire investment account.

Go check out their homepage – specifically the section about no maintenance fees. I have linked it for you, below.
My number is 212……

You may call me to apologize for trying to rip off a loyal customer and to express that you will be honoring my request. You may NOT call me otherwise.


– Justin

The bank’s response to Justin

Subj: RE: CMA-76

Dear Justin K,

Thank you for contacting Merrill Edge.

This message is to acknowledge and respond to your email received 4/7/11. In your message you expressed concern about the assessment of a quarterly maintenance fee.

If you wish to have the fee assessed on 4/6/11 reimbursed, you may contact us at 1.877.653.4732and we will gladly do so. We are available Monday thru Friday 7:30 a.m. to midnight and Saturday 8 a.m. to 9 p.m. ET.
Please note that we have been informed that Merrill Edge will be eliminating the self directed CMA quarterly maintenance fee altogether based on client feedback.

Merrill Edge sets high standards for customer service and we strive to achieve these standards in every situation. I regret that this was not your experience.
Please let us know if we can be of further assistance. As always, we appreciate the opportunity to help you with your investment needs.



Merrill Lynch Pierce Fenner & Smith, Inc.

We want you to know:

Investment products provided by Merrill Lynch Pierce Fenner & Smith, Inc. ™:

  • Are Not FDIC Insured
  • May Lose Value
  • Are Not Bank GuaranteedMerrill Lynch Pierce Fenner & Smith, Inc is a registered broker-dealer, member FINRA and SIPC and is a nonbank subsidiary of Bank of America, N.A.



7 Responses

  1. NICE!!!

  2. Christine’s Response to Justin: Whenever banks make an important change, they are supposed to tell you ahead of time. You probably got a letter or an email telling you that there would be a new fee and giving you a chance to close your account if you didn’t want to pay it.

    Anyway, I think you should just keep your money under your mattress like the rest of us.

    • i am sure they did send me a letter telling me they were going to do that. At least I am assuming they did. Sure, they can do that. i can also tell them that i won’t be paying the fee and will be leaving. it all worked out.

      And as for Ethan’s comment about the bank teller lady – nah, it wasn’t that she was hot. just very helpful and nice. Plus, i don’t date girls from where i bank. office, sure, but bank, no. Probably not a good policy but i am what i am

  3. Why didn’t you protest outside like those wackos at the BOA?

    Also, let’s be clear; the bank teller is hot, yes?

  4. […] a fan on Facebook.  Wells Fargo requesting payment for zero balance.  I really wish Justin had gotten this […]

  5. I’ll be calling them shortly for the same reason. After having the account since 2009 they decided to charge me the quarterly maintenance fee TWICE in one week. Even better they charged it on 4/18 and 4/27. Both dates well after it was supposedly discontinued.

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