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American National Bank | Facebook

e manner in which I choose to use my debit card? I currently have a checking account that pays interest as long as I meet certain criteria each month with one being at least 12 Check Card purchases per month, post and clear.

I received a letter today that stated they have noticed I am using my debit card in a limited fashion in order to meet the minimum qualificat ions of receiving interest on the account. It does not state that I either meet or exceed the other qualificat ions that need to be met monthly to receive this interest, or that I rarely have ATM fee refunds or that the assets I do have with them exceed the amount where they start decreasing the interest rate so that they don’t have to pay me too much. It also doesn’t state that in months where I don’t meet my monthly requiremen t of debit card purchases that no interest has been paid and I accept it.

Debit cards are one of the easiest ways somebody can gain access to an account (that probably holds the majority of most people’s liquid assets) unlawfully . When the card leaves my possession in a restaurant , I have no idea who could be copying down the number, expiration date and super-secr et code on the back to start a spending spree online. I can only count a number of places that actually have chip readers at the register even though they were supposed to be standard starting in early October. Skimmers at ATMs are more common than most want to believe and are a great way to steal debit card info. Using a credit card at these locations gives me protection that may not be offered when using a

debit card with no access to my hard earned money.

With that being said, I can’t believe a financial institutio n would actually have a requiremen t of a minimum number of debit card purchases as a trigger for interest payment. I’ve mentioned this in person twice at the bank on 90th & Dodge and both times I was told that I wasn’t the first person to point out the concern.

Darn right I’ve limited the number of purchases I make with the card. All transactio ns I make are at my work’s cafeteria with the thought that there probably isn’t a safer place to use the card than in the cafeteria of a financial institutio n. If I don’t get 12 purchases in a month where I feel comfortabl e that my bank account won’t get wiped out I fully understand I won’t be receiving interest for the month.

I would recommend to America National Bank that they change this dangerous requiremen t that is not in their customer's best interest but also that the next time they send a chastising letter to a “Valued Customer”, have the courage to actually sign the letter with the name of one of your executive officers. Did Mark Barker, Chief Banking Officer who according to the website is “responsib le for providing strategic direction, maximizing efficienci es, product developmen t and enhancing our overall customer experience ” not want to attach his name to a letter like this? If not, be happy that you have customers who have assets at your bank that you can do what banks do and loan the money I have at the institutio n to others at a rate higher than they may or may not be paying me.


Category: American mortgage

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