Santander Bank US Bank Account Or Service Complaint

Santander Bank US Bank account or service department,

Checking account Problems caused by my funds being low New Jersey

Santander Bank charges a $ 5 monthly fee whenever the " value '' checking account average daily balance for the month drops below $500.00. That 's OK and clearly described in their terms. The problem is that they post the fee on the first day of the new period, the day after they send out the statement for the period for which the fee is levied. This means that their customers checking balance is $5.00 less than the customers expect, and for those customers who live on the edge, might result in hefty overdraft charges. I believe that sticking those unfortunate customers with those onerous overdraft charges as a result of a month long delay in notification of a $5.00 service fee is the exactly what the bank intended. There should be a requirement that requires banks to post any monthly service fees charges on the last day of the monthly statement period so that they are included in the monthly statement.