[westernrider75]

Originally Posted by Topgun 1776

According to a CFB rep today, the new bank sale isn't official until May of 2026.

But, I've noticed a few things - yes, these are "first world" problems - but, I wonder if this is an indication of what's to come.

I called this morning due to a "dormant letter" that spelled out there has been no activity on my account for almost 365 days (which wasn't true). Because of this, if I didn't have some activity on the account, they would charge me a $10 dormant fee each month until I do.

Yes, I keep a small amount in my CFB account and I've been with them for 5 years. But, I've never received a dormant notice and I've gone several years now without such a notice.

I've never had to speak to a machine and always been able to speak to a person each time I've called about anything before. Today, I was sent to an automated response that said I was "# 7 in the cue." I elected a call back, but never got it. I had to call them over an hour later and finally spoke to the rep. He told me he would document my account as contacted and there would be no charge - this time. I informed him if I ever did receive a dormant fee of $10, I would take my small balance elsewhere just for principal. I'm sure that didn't scare him.

Has anyone else experienced this type of notice before or the change in customer service since their announcement to sell?

Both the #7 in the que and the dormant letter are not new. I opened an account several years ago that I only use for Venmo, so I use it very rarely, but they advised me then that I could get that letter.

[Cliff Fr]

Originally Posted by srswans

Yes, Citizens sent me a similar letter two years ago. They said that I needed to make an in-person transaction once a year or they’d charge me. Annoying since I make online transactions every month or so which don’t count. Gotta visit a branch or ATM once a year at Citizens.

That's actually to protect you and the bank

[Scott.B]

Best way around this, for me, is to set-up a direct deposit, for $1, regularly into this account. This works if you have income coming in regularly, and a way to manipulate or distribute it this way.

[TomPerry]

OP, I don’t understand why you have “small amount” in CFB! Is it just in case! That required the bank to incur administrative expense to comply with state dormant account laws. The small fee is there way of dealing with small PITA accounts. Perhaps these PITAs is why “The Villages” are selling the bank.

[Altavia]

Originally Posted by TomPerry

OP, I don’t understand why you have “small amount” in CFB! Is it just in case! That required the bank to incur administrative expense to comply with state dormant account laws. The small fee is there way of dealing with small PITA accounts. Perhaps these PITAs is why “The Villages” are selling the bank.

One reason is ready cash access at many ATM's. They probably make up the cost via relatively low interest rates on deposits.

Wondering what the odds for so many brick and mortar locations and ATM's at every Rec Center surviving under a new owner with a different business model?

[lvlwallach]

Always been that way. Just write a check or make a deposit

[Lancer]

Originally Posted by CoachKandSportsguy

yes, MA has a dormant account process where after two years of no activity, the money is sent to the state automatically and the account is closed. My deceased parents have $6 at the state and will be there forevah. .

Money is not moved to the state, escheat, after 5 years.

[crash]

Originally Posted by Topgun 1776

According to a CFB rep today, the new bank sale isn't official until May of 2026.

But, I've noticed a few things - yes, these are "first world" problems - but, I wonder if this is an indication of what's to come.

I called this morning due to a "dormant letter" that spelled out there has been no activity on my account for almost 365 days (which wasn't true). Because of this, if I didn't have some activity on the account, they would charge me a $10 dormant fee each month until I do.

Yes, I keep a small amount in my CFB account and I've been with them for 5 years. But, I've never received a dormant notice and I've gone several years now without such a notice.

I've never had to speak to a machine and always been able to speak to a person each time I've called about anything before. Today, I was sent to an automated response that said I was "# 7 in the cue." I elected a call back, but never got it. I had to call them over an hour later and finally spoke to the rep. He told me he would document my account as contacted and there would be no charge - this time. I informed him if I ever did receive a dormant fee of $10, I would take my small balance elsewhere just for principal. I'm sure that didn't scare him.

Has anyone else experienced this type of notice before or the change in customer service since their announcement to sell?

Yes this is normal for them. If no activity either deposit or withdrawal for a year you will get the monthly charge. I have been making a $20 deposit per year just so I get the free banking services.

[CoachKandSportsguy]

Originally Posted by Rainger99

You can claim the funds.

please stop insulting people's intelligence. .

the fact that I know its there, why its there, how it got there, and how much it is, means I have investigated the process, and determined its not worth my effort, as stated in the post.

[joshgun]

Yes

[gmdds]

When we banked with them, we also only kept a small amount with them, as they paid ridiculously low amounts on their various deposit accounts. Had they paid a better rate, we would have kept more money there…they didn’t, we didn’t.

[bowlingal]

Topgun....why didn't you just go a branch and straighten this out?

[Wayne Mudge]

Originally Posted by Topgun 1776

According to a CFB rep today, the new bank sale isn't official until May of 2026.

But, I've noticed a few things - yes, these are "first world" problems - but, I wonder if this is an indication of what's to come.

I called this morning due to a "dormant letter" that spelled out there has been no activity on my account for almost 365 days (which wasn't true). Because of this, if I didn't have some activity on the account, they would charge me a $10 dormant fee each month until I do.

Yes, I keep a small amount in my CFB account and I've been with them for 5 years. But, I've never received a dormant notice and I've gone several years now without such a notice.

I've never had to speak to a machine and always been able to speak to a person each time I've called about anything before. Today, I was sent to an automated response that said I was "# 7 in the cue." I elected a call back, but never got it. I had to call them over an hour later and finally spoke to the rep. He told me he would document my account as contacted and there would be no charge - this time. I informed him if I ever did receive a dormant fee of $10, I would take my small balance elsewhere just for principal. I'm sure that didn't scare him.

Has anyone else experienced this type of notice before or the change in customer service since their announcement to sell?

Keys Federal Credit Union stole $165.00 from me the same way. I had money in the account for a rainy day, never received any notice, and every month they were hitting my account for being dormant. I closed the account. It makes no sense to me what the fee would be for ?

[asianthree]

Originally Posted by TomPerry

OP, I don’t understand why you have “small amount” in CFB! Is it just in case! That required the bank to incur administrative expense to comply with state dormant account laws. The small fee is there way of dealing with small PITA accounts. Perhaps these PITAs is why “The Villages” are selling the bank.

In 2004 Citizens had paperwork with their mortgage applications papers to open CFB checking account. At the time we did want or need a different bank, we weren’t even using them for a mortgage. Yet there was the paperwork to sign, like it was a giant perk. I’m sure you remember that little push of opening CFB accounts in early 2000s

So there is one reason many have CFB and use it as an afterthought. We keep around $2,000, their online bill pay and transfer is so antiquated we would never use as a primary. Few years ago I went to close the account and they transferred to a different offer for better service. Still not impressed, so I have been writing checks to deplete the account so before Suncoast takes over it will be closed.

[Singerlady]

Originally Posted by Topgun 1776

According to a CFB rep today, the new bank sale isn't official until May of 2026.

But, I've noticed a few things - yes, these are "first world" problems - but, I wonder if this is an indication of what's to come.

I called this morning due to a "dormant letter" that spelled out there has been no activity on my account for almost 365 days (which wasn't true). Because of this, if I didn't have some activity on the account, they would charge me a $10 dormant fee each month until I do.

Yes, I keep a small amount in my CFB account and I've been with them for 5 years. But, I've never received a dormant notice and I've gone several years now without such a notice.

I've never had to speak to a machine and always been able to speak to a person each time I've called about anything before. Today, I was sent to an automated response that said I was "# 7 in the cue." I elected a call back, but never got it. I had to call them over an hour later and finally spoke to the rep. He told me he would document my account as contacted and there would be no charge - this time. I informed him if I ever did receive a dormant fee of $10, I would take my small balance elsewhere just for principal. I'm sure that didn't scare him.

Has anyone else experienced this type of notice before or the change in customer service since their announcement to sell?

Yes, I got the letter. Called, talked to someone. He explained the issue. I just promised him that I’d try to make at least one transaction before next year. He told me to not worry, just call and they’ll fix it. Hmmmm….