OK, fine, it's their sandbox, they can make the rules. But what's strange is that I've had less than $500 in the account for five months. Why only now do I get this notice?
Could it be because I just wrote a blog post last week that was mildly critical of GE Interest Plus? Maybe they're so ticked off that they're looking for an excuse to close my account? I wish that were true, but it seems unlikely if for no other reason than hardly anyone reads this blog
More likely, it's because I emailed three questions to GE customer service last week. I bet that somewhere in the process someone noticed my low balance and flagged my account.
I'm not really complaining; I was thinking about closing the account anyway. But doesn't it seem strange that they wouldn't have an automated process to send out these notices as soon as a customer's balance drops below $500?
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ge interest plus does pay higher interest. money is reasonably safe [much safer than similar product by ford or caterpillar]; they have been in business for decades without problems. they just changed respondent bank and are increasing fees and reducing services to increase their profitability at consumer detriment. they now charge for blank checks which they did not before. customer service is pretty bad but that is true for most banks as well
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