Williamstown Savings Bank

Before I start, I first want to state I have no issues with any of the employees that work here. Some have left, and some I’ve worked well with for a very long time. IMO, these are recent policy changes, and failures in honesty, integrity, and ethics, by not properly disclosing all available options.
Ever since Williamstown Savings Bank got purchased by MountainOne Bank, things certainly have changed, and in my opinion, not for the better.
Recently, I received a notice, informing me that without any action on my part, my free checking account as of March 1, 2015 was going to change automatically to a checking account type where I would be charged roughly $ 5/​mo ($ 60/​year).
The mailing I felt was sneaky and somewhat dishonest. Nowhere in the cover letter, was it mentioned that the account would be charged $ 5/​mo. Only on page two in the list of features, did it mention that the account would have a monthly fee. Also, nowhere in the mailing I received, was a type checking account mentioned that the bank offeres, that could still be had for free at no charge! I’ll get more into that shortly.
Granted, the new checking account covers $ 20 worth of foreign ATM Fees each month, and also provides ID Theft Protection, but in my case, and I suspect for most people, those added features are unnecessary.
There is only one other way to avoid the fees with the upgraded checking accounts, and that’s if you choose the account that earns interest, and keep a $ 2500 minimum balance in there, but if you fall below that, you get socked for $ 10/​mo.
For example, in the recent case of Target, and other stores that are getting compromised recently, those companies when they get compromised, are already offering some level of credit monitoring for one year for you as it is for free. Also, if you don’t already, by federal law, you’re allowed to get a free copy of your credit report once/​year from
. The report covers all three major credit bureaus. Equifax, TransUnion, and Experian. If you’re not already doing this once each year already, you should get a copy.
Only after I called, and said I would have no choice to pull my money out of the bank, only then was I then told that Mountain One offered a free Horizon checking account that behaved exactly like my original account did. It had no ID Theft Protection, no foreign ATM fees covered, and was completely free.
I shouldn’t have had to call and explain I would have no choice, but to pull my money out of the bank in order to then be told that the free Horizon checking account existed. Also, the Horizon account should have been listed as an option in the mailing I received. In fact for all existing free checking accounts, it should have rolled over to the free Horizon account, and the paid checking accounts should have been the option! For MountainOne to list only paid checking account choices, leaving the free one out of the list of choices is very misleading.
So, if you want a FREE checking account from this bank, go out of your way and ask for the Horizon account. You’ll need to stop there in person and request the change before March 1, 2015 to avoid your checking account getting dinged the $ 5/​mo fee. And oh, I’m sorry, it’s $ 4.95, but when it’s that close to $ 5, I call it what it is. It’s also shorter to type.
For me personally, because I felt the banks recent actions were deceptive in the way they advertised and rolled out the new accounts, failing to mention to me all reasonable available alternatives, I will likely be pulling my funds out of this bank before the end of the month when the fees hit. I am considering moving my mortgage as well. I’d had an account here for decades. Not anymore.