I’ve Paid For This Twice Already…

My Relationship with Wachovia is Over (I think)

This week I got my final (I think) statement from Wachovia indicating my account had been closed. I can’t imagine what else they’d be sending me a statement for now that they’ve indicated my account is closed and my balance is $0, but I’m not going to be sure for a while yet. They already tried to charge an account maintenance fee on a closed account, after all.

So now I have the fun task of totalling up what this little transferring to Vanguard endeavor cost me. For, I am sure that every fee imaginable was squeezed out of me. When I began, I had a Roth IRA with Wachovia that consisted of 6 mutual funds and a money market account. According to my final statement, as far as I can tell, I was charged a $7.50 per mutual fund fee for selling them to transfer the money to Vanguard (that seems reasonable, for a total of $45 for 6 mutual funds) and a $95.00 termination fee to close my account. Lovely. I pay you $95 so you don’t have to deal with me any more. Nice. Not really on board with that, but, what is done is done and at least…. it is d-o-n-e. So, $140 in fees later, my money is finally moved and I don’t have to deal with Wachovia any further (I think).

Unless they try again to get another $75 annual account maintenance fee out of me… but I am hoping they’ve realized their error and have moved on.

Whew. Fees are the enemy of compound interest!!