For 25 years, the Original Poster (OP) has been locked in a silent battle with a Canadian bank over escalating fees and questionable practices. After transferring most of his assets to a new bank, OP leaves behind a mere $0.26 in an account, forcing the old bank to mail a monthly statement as a form of long-lasting petty revenge.
The Good Bank Gone Bad
OP had been a loyal customer of a bank for about five years. Initially, the bank had reasonable fees and offered good services. Little did he know the nickel and diming ahead of him.
Not Worth The Fees
Over time, the bank started increasing fees on various services, including OP’s substantial RRSP investments. Frustrated by the escalating costs, OP decided something needed to be done.
The Exodus to a New Bank
OP moved all of their investments and banking to a different Canadian bank. They were determined to leave the old bank entirely. However, OP left exactly $0.26 CAD in one RRSP account at the old bank. This meant the bank had to mail them a monthly statement, incurring a cost for the bank but not for OP.
The Account Closure Offer
About 15 years after OP had left the old bank, he received a letter. The bank asked if OP would like to close the account by receiving a check for the remaining $0.26. He had another plan in mind.
No Thank You
OP turned down the offer, stating that he might want to add to it someday. Knowing that he had no intention of doing so at all.
The Cost of Satisfaction
Years rolled on, and the bank continued to mail the monthly statement for the account with $0.26. For OP, the cost the bank had to bear for mailing these statements became a form of quiet satisfaction. The bank, however, seemingly unfazed, kept the account alive.
Public Opinion: Wasting Paper
As word spread about OP’s long-standing petty revenge, some people criticized him for wasting paper. The bank was mailing out these statements on paper, which they said could impact the environment. However, OP was quick to point out that the bank used 100% recycled paper.
The Environmental Rebuttal
OP clarified that not only was the bank using recycled paper, but they themselves also recycled the received statements. Over 25 years, this amounted to around 300 envelopes, all of which were at least double-recycled. The environmental argument against OP’s revenge fell flat.
The Fee Argument
Others claimed that OP’s actions were causing bank fees to rise for everyone. People felt that the costs incurred by the bank for mailing statements could lead to higher fees. OP dismissed these claims, stating that banks are already notorious for arbitrarily raising fees.
No Harm, No Foul
Some people thought OP was wasting his time, saying this revenge had no real impact on the large bank. While OP acknowledged the bank probably didn’t care, he explained that the personal satisfaction he gained was enough for him.
Online Trolls: The Doubters
As the story gained traction, some people started calling OP a liar or a kid making up stories. They saw it as a stunt to gain public attention.
OP, now in their early 60s and retired, was amused by these petty reactions. He had no time for doubters and continued to revel in his ongoing revenge.
Amidst the varying opinions, many came forward, sharing their own stories and strategies for combating bank fees. It became a community of people who had also taken unique steps to ‘fight the system.’ OP appreciated the support and felt a sense of camaraderie.
Was Refusing To Close An Account To Prove A Point Appropriate?
The readers in the forum had a lot of mixed views on the matter.
One reader said, “I’m surprised they didn’t have a fee for keeping the balance too low.”
Another Commenter Thinks
Another responder wrote: “They absolutely make money off you. Your money doesn’t just sit in your bank. They only keep a fraction of all their account balances.”
A Third View on The Story
A different person states, “I’m surprised they aren’t charging you a statement fee every month.”
A Final Perspective on the Matter
Another viewpoint on the story: “This is petty, but so poignant. Well done!”
What Do You Think?
What are your thoughts on their actions?
What would you have done in this situation?
This story is inspired by a thread from an online forum.