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No. of Recommendations: 1
The representative from Everbank stated that the rationale behind this policy is that "for those customers where the fee reimbursement is important they will take the time to send in the receipts. For those customers that don't care enough, they will be charged."

So, in effect, this bank is turning your ATM receipts into "Money off" coupons. Consumer Products companies have been using coupons to set different price points for products for a long time. This bank, like the consumer products companies, is counting on the inherent laziness of most people and foresees not having to pay out those $6/month to as many customers. A very interesting idea, first time I've seen it done in a banking situation.

hope this doesn't spoil the poll

Air
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