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This review is for: Unity Gold E-Money Market
I recently checked out OneUnited's Unity Gold Savings account and was pretty surprised at some of the details. OneUnited markets themselves as a community focused bank - so it was surprising to see the types of fees that they levy on savings account customers for just trying to withdraw their money.
For example OneUnited's ATM card can be used at any MoneyPass or SUM network ATM. That's decent coverage, but outside those networks OneUnited will charge a $1.50 fee on top of whatever surcharge I would get from the ATM owner....And in addition to that, they have an "excess withdrawal" fee of $1 per transaction, meaning that my fourth ATM transaction per month (which has they've defined as excessive) - even if it's on a MoneyPass or SUM network! - earns me an extra $1 charge from OneUnited.
I have a pet peeve with banks that charge me to withdraw my money, so the ATM charges would probably be enough to steer me away from OneUnited, however there's also their interest payment process which was the final straw. My conversation with CSR went something like this...
Me: "How frequently do you credit interest to my account?"
OneUnited: "Quarterly"
Me: "Quarterly?!"
OneUnited: "Yes, Ma'am"
Me: "And what happens if I were to close my account before the end of the quarter? Do I get the accrued interest up to that point?"
OneUnited: "No Ma'am, you would lose the interest"
Me: "Thanks for your time."
Posted by HollyT -- March 25, 2009
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