Bank Mutual is one of the most unfair and unethical financial institutions that I have ever encountered in my entire life. They siphon off of the finances and spirits of people who they feel are not as business savvy as these big financial institutions. This is yet another shining example of how the rich get richer and the poor get poorer.
I am a new small business owner and I was pretty excited to be doing something that I love and get paid for it. I love to bake and I love to craft. I have been knitting, crocheting, doing cross-stitch and embroidery for as long as I can remember. I used to just bake for the church special occasions and for bake sales. My daughter suggested that I should bake for profit. She has a bakery and she sells my cakes in her shop. I have done pretty well. I get all kinds of special requests. I started doing so much that my daughter suggested that I get a business bank account with Bank Mutual and use the bank mutual online banking services to manage my money. This sounded reasonable to me and so I went ahead with it.
I got everything set up fairly easily. Actually, it was almost too easy. I was pretty pleased to see how detailed everything was when I logged into the bank mutual online banking page. I like how I was able to transfer funds into my savings account from checking and vice versa. I would always put the money into savings to accrue interest and then transfer to checking to pay bills and buy supplies. I did not think that this would be a problem since the banker told me that I had unlimited transfers available to me as a business customer.
Imagine my surprise a couple of months later when I logged into the bank mutual online banking page to find that my savings account was not only depleted but also overdrawn. I called the bank thinking that there has to be a mistake. To my dismay, the representative told me that there was no mistake. I had unlimited transfers but after five transfers out of the savings account I am charged for each and every one. I also got slapped with some NSF charges that resulted from money not being there after the transfer fees were taken. I am really not happy right now. I was not told about any of this.