I never thought I would be saying this but I just got hit with a bank fee. I use ING as my main bank but since it is an online bank I have another bank (which shall not be named) for times when I need to deposit a check or get quarters or something like that.

I utilize the online banking system and since I never keep more than $20 in there (it does not bear interest) I glance at the statements but do not pay attention to them.

A few days ago I noticed Mint said there was a withdrawal of $5.95 which immediately threw up a red flag for me because the only withdrawals I make from that account are in $10 increments since I get one roll of quarters every now and then. I do not even have a debit card for that account because they charge you $12 ‘convenience fee’ for the debit card…which is separate from the ATM fees.

I also do not have checks for that account because it is simply a gateway account to ING in case I need to make a physical deposit.  So WHERE did the fee come from?

Well, two months ago the bank sent out a notice in the paper statements saying that they would be charging a monthly fee if the following two conditions were not met:

1. Have a monthly direct deposit to the account

2. Carry a minimum balance of $100 daily

Now I had the first condition under control because I had ING send over $10 monthly and I would be taking quarters out based on the difference from any checks I had deposited that month like from PineCone and other sources.

I had no reason to keep $100 in the account because:

1. I do not use cash for purchases

2. The account does not bear interest

So I was hit with the stupid fee which I could have avoided if I had read all the details on the statement….printed on the BACK no less. It really was my own fault for going so paperless with this account that I did not read anything, I simply looked to see if the balances matched what I saw daily in Mint and moved on.

I feel REALLY silly now for letting myself get hit with that fee so it is going under the Stupid Tax for the year.