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BB&T and “Bright Banking”

March 2, 2012

A few months ago I was informed by BB&T that they are starting a new system for their customers. Similiar to the “Patriot Act” they tried to perform some sort of a whitewash job, by attaching a feel good title to the scheme.  Now BB&T customers are subjected to a new onslaught of  fees and polices under what they’ve entitled: ‘Bright Banking”

After all, who doesn’t want to be ‘bright’ with their banking decisions?  Kudos are in order to their marketing department for that one. Unfortunately when something really stinks, the odor seeps through the package regardless of how nicely you wrap it.

For the most part the BulldogPI has refrained from using vulgarity on his blog…. so in the interest of professionalism I will hold back from my impulse to release a long and  profanity laden rant about  BB&T and their new Bright Banking system.  That’s really not all that necessary anyway, a summary should get the point across.

Since the creation of “Bright Banking” BB&T has closed my local branch (a cost saving measure no doubt), increased the frequency and amount of banking fees (every time I sneeze I find a new fee on my statements), and made it extremely cumbersome to reach an actual person if you call their customer service line.  You know who’s fault all this ultimately is? 

OURS, as consumers…..

Now that we’re not in the heyday of the ’90’s, it seems like the corporations are turning to the American consumer and hitting them with this fee, or that fee at every turn.  Do you need technical support on the printer you bought three months ago?  Expect a Fee.  Do you have less then $1,500 dollars in your checking account?  Expect a Fee.   Do you want to use your debt card at the grocery store?  Expect a fee…

It’s time for people to  stand up and make use of the power they have as consumers, and stop sitting complacently by the slidelines….. when companies like BB&T pull this garbage, move your business elsewhere.  Start blogs, voice your frustations, let other people know how you feel and why.  Stop acting lke a bunch of sheep people!

As for BB&T, I hope you loose customers s by the thousands from your new “Bright Banking” approach.  My translation for BB&T’s new  slogan, is ‘we’re banking that you aren’t very bright and will put up with inconvienence and extra fees at every turn.” 

http://articles.businessinsider.com/2011-11-21/news/30424556_1_minimum-balance-global-atm-alliance-insufficient-funds-fee

BB&T: Bright Banking Terms

Checking: This account costs $50 to open, with a $10 monthly fee ($12 in Kentucky and Indiana) unless  a $100 monthly direct deposit is made or a $2,000 minimum balance ($7,500 in Kentucky and Indiana) is maintained or a mortgage with BB&T OR $6,000 combined deposit and loan balances. The insufficient funds fee is $35 for overdrafts over $5.

There is a $25 fee if the account is closed within three months of opening and a $7.50 monthly inactivity fee after a year.

Debit Card: This is included with all checking accounts (no additional fees). Out-of-network ATM withdrawal is $2.50 ($5 internationally).

Who could turn down such a great program?

 BulldogPI’s response:  Bright Banking?  I think not….. and neither do they:

http://sunkcostsareirrelevant.com/2011/07/bye-bye-bbt-bright-banking/

http://www.depositaccounts.com/blog/2011/04/bbt-is-ending-its-free-checking-account.html

http://www.fatwallet.com/forums/finance/1041865/

 -BulldogPI
One Comment
  1. Additional interesting blog entry about BB&T:

    http://www.moolanomy.com/2997/my-bbt-fees-nightmare-and-how-to-avoid-overdraft-fees-jill08/

    “So by yesterday, I had received a total of $165 in refunds and thought the whole thing was (mostly) behind me. Today, I log in to my account and see a mysterious $2 charge, with a description of “PHONE24CHARGE.” Concerned that I was the victim of one of those small-dollar scams, I immediately Googled the description – and realized that it was a fee. From BB&T. FOR CALLING CUSTOMER SERVICE!”

    You’ve got to be kidding…. this BB&T customer went through an absolute nightmare dealing with the bank, and then apparently was charged for calling customer service….. more ‘Bright Banking?’

    Read more: http://www.moolanomy.com/2997/my-bbt-fees-nightmare-and-how-to-avoid-overdraft-fees-jill08/#ixzz1oKcsdO00

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