pnc bank IRA $25 bank fees pittsburgh, Pennsylvania
Purchased IRA in 1988 from local Bank. It has been through about five different banks landing currently at PNC Bank in Pittsburgh. PNC has decided with out my consent or notification that they are going to charge me $25 per year to service this account. The account is/1484.12 before they began taking there fees out. I am now losing money every year. I requested they refund the money they stole and cancel my account. Luckily I just turned 60 but if a person was not at least 59.5(like me last year) they would have paid a 10 percent penalty. OH and they only charge this fee to people who have IRAs less than $2000. Way to kick the small guy again. I would be very afraid to put any other money in this bank. They randomly charge fees on anything they feel like. Especially to small investors who do not have the resources to fight them.
1 Updates & Rebuttals
Ken
Colorado,USA
Gee, how sad...
#2Consumer Comment
Sun, January 13, 2013
I have $240,000 in my IRA and am charged a $40 annual fee...go figure.
BTW, what good is an IRA of less than $2,000?
Yes, if not 59-1/2 when you withdrew you would pay regular tax plus the penalty..but you CAN roll the money over into another account instead..no penalty.
You are liable, now, for regular income tax on the amount.