ksterni
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posted on October 2, 2000 08:52:39 PM new
Is it just me, has anyone else seen this? What if I just want to keep PayPal but don't want the x.com stuff??
Monday October 2, 2000
Dear X Finance Customer:
This email is to notify you of changes to the terms and conditions under
which First Western National Bank provides banking services through the X
Finance website. These changes will take effect on November 1, 2000.
Monthly Account Fee
All accounts with an average monthly balance of less than $100 will be
assessed a $12 monthly maintenance fee. The initial fee will be assessed
on November 1st and subsequently on the first business day of each month.
ATM Rebate
Third party ATM surcharges will be reimbursed only for accounts with an
average monthly balance of $100 or more.
Also, we reserve the right to close an account if you maintain a zero
balance.
Please review our revised Terms and Conditions at
https://signup.x.com/help_termsofuse.asp for more information.
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ksterni
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posted on October 2, 2000 09:10:09 PM new
NO ONE else has received this?? Am I dreaming or what??
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macandjan
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posted on October 2, 2000 09:11:09 PM new
They discovered all the money is in PayPal and want to close up inch by inch.
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ksterni
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posted on October 2, 2000 09:14:14 PM new
I'm not paying a $12 fee for monthly maintenance! And I'm not keeping a $100 balance! Can I cancel the x.com stuff & still keep PayPal? (I suppose not...)
[ edited by ksterni on Oct 2, 2000 09:14 PM ]
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autumnmoon
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posted on October 2, 2000 09:17:00 PM new
I Haven't Received this Email but then again I didn't receive the email about the overdraft protection being taken away I just looked the other day and poof it was gone. If this is true I don't think I would want to keep it I pay enough fees to my real life bank. don't need another one. Also if this is true X.com seems to really be hurting financially and I wouldn't want to keep a balance of $100.00 or over I would worry that it would disappear one day just like my overdraft protection.
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uaru
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posted on October 2, 2000 09:52:15 PM new
I was looking at x.com's (First Western National Bank) financial information last week, they don't look like they are in trouble to me. Considering their assets have almost doubled in the last year I'd say it was a VERY good year for them. You can go to http://www.fdic.gov and look up the finacial information on any fdic insured bank.
I think a lot of the small accounts are more trouble than they are worth and this is just a way to eliminate them. I signed up for 2 accounts back in January one for me, one for my wife. Hey, it was a free $20.00 for each of us. I'll either have to send my wife some money (shudder) or get her to close her account.
I also wondered if the fabled international PayPal accounts will be required to have an account at First Western National.
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magazine_guy
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posted on October 2, 2000 09:55:28 PM new
I didn't get this notice either.
What a nightmare- there are a ton of folks with low balance X.com accounts- opened when it was "Free" with no monthly service charge and no minimum balance. And X.com will slowly drain their tiny balances intil they're everdrawn...
Now they're changing the terms without notifying most of the users? This sounds familiar..
Fruit doesn't fall far from the tree, eh X.com?
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lindajean
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posted on October 2, 2000 11:37:23 PM new
Hi,
I don't know why you would get an email like that. I just checked my bank account at x.com and anyone who might be interested, all you have to do is click on banking tab and there are the rules clear as can be. It still says: No minimum deposit, and no monthly fees.
We all know that is subject to change, but it is still in there web page at this time!
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avaloncourt
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posted on October 2, 2000 11:37:28 PM new
I doubted the authenticity of the posting in this thread until 1 minute ago (2:31am on Oct 3) I received the infamous email from x.com. It does indeed say exactly what was posted by ksterni.
A $12 monthly maintenance fee! KISS MY A**, Paypal/X.com. Considering what we all experienced with the whole PayPal fiasco it sure appears that the First Western National Bank is self-destructing. Let me guess, we were never told that the bank account with x.com would be free of charges.
PayPal/X.com's business tactics will surely send them circling the drain because they have lost credibility with anyone who ever thought anything positive about them.
X.com, stick your Maintenance Fee up a very dark place!
Lindajean Don't jump on him too fast. You read the "No minimum deposit, no minimum balances and no monthly service fees!" from the Banking page. Now click on the "Terms & Conditions" link at the bottom of the page. It's located at:
https://secure.finance.x.com/help_termsofuse.asp
There you will find it printed "clear as can be" as you said, at the bottom of the page under "SCHEDULE OF FEES (Applicable to both Checking and Time Deposit Accounts)"
Under Monthly Fee: "$12.00 per month, not to exceed account balance, if average monthly balance is below $100 in any month"
So, please look at the fine print before jumping all over someone. We all know that PayPal/X.com has never lived up to their statements and this is proof. They say one thing on one page but when you read the legal text it says something completely different.
[ edited by avaloncourt on Oct 2, 2000 11:47 PM ]
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gamecock
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posted on October 3, 2000 02:55:28 AM new
Well, I guess I'll be closing my x.com account this week. The lack of a quick/safe method of depositing checks & money orders, makes it undesirable for me to use as my primary checking account. I still need a local bank.
Anyone else get the feeling of a sinking ship here with Paypal/x.com or is it just me? What else can they possibly do next to tick off their customers any more than they already have the past few weeks?
X.com/Paypal's P.R. department needs to be replaced. They have failed to do anything about some disasterous public relations blunders lately.
gamecock
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tomwiii
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posted on October 3, 2000 03:50:35 AM new
I just got the X.COM email of death! BIOYA! X.COM!
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abacaxi
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posted on October 3, 2000 05:12:43 AM new
It seems to be for ONE kind of accuont only:
"Monthly Fee for NOW Accounts with balances below $100 .... $12.00 per month, not to exceed account balance, if average monthly balance is below $100 in any month.
So my next question is: what's a NOW account?
OK: "Checking Accounts: Checking accounts opened through the X.com Website are negotiable order of withdrawal ("NOW" accounts subject to limitations set forth in this document. Checking Accounts may only be owned by natural persons."
If you opened the account via the Web ... pay them $12/month or maintain a $100 balance. That's how they will have enough float to stay in business. It's not outrageous compared to some bank fees.
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sweil
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posted on October 3, 2000 05:21:50 AM new
I just looked over their site and see where it mentions the schedule of fees. Guess I will be calling x.com today at their 800 number and talking to them directly. Looks like I will be closing an account with them soon.
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ksterni
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posted on October 3, 2000 06:22:08 AM new
lindajean
I didn't feel like you were jumping on me. Your post was politely worded.
avaloncourt
I felt worse that you doubted my sincerity. Please click on my AuctionWatch ID, I've been here forever, I'm no troll. And by the way, I'm a gal, not a guy. And I'm glad someone else received the email!
I signed up for x.com and Paypal both when they were separate companies, so that is perhaps why I am receiving this & why some folks aren't. I never use x.com for anything, but I use PayPal. I don't know how this affects my PayPal account.
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ksterni
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posted on October 3, 2000 06:39:19 AM new
Let me clarify:
I thought I read somewhere that when x.com first bought paypal, all accounts would evenutally be merged, that is why I have a question, because I view this as a single entity, a single account. Maybe I am not understanding correctly.
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Pandoras_Trinkets
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posted on October 3, 2000 07:06:18 AM new
I'm thinking the same here as Ksterni,
I too opened them seperatly last winter before the *merge*. However I have yet to get the email. I use X.com & paypal seperalty all the time.
I'm wondering how this will effect my paypal account. x.om/paypal merged or not?
Turning on the email. 
BTW Like another poster said. X.com/Paypal I'd like you better if you'd just SETTLE DOWN! Can we go say 1 week with out a new policy change. Yikes!
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yisgood
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posted on October 3, 2000 07:16:22 AM new
Has anyone figured out how to close an x.com account? It's not very obvious.
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sweil
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posted on October 3, 2000 07:16:50 AM new
After reading this thread this morning I logged onto x.com t see if I could find out anything else. Within minutes of my logging on, I received the same email. I don't know if this is coincidence or if my checking my account caused them to sen me the email. I them called x.com directly and they confirmed. I asked on the phone how I go about closing my account and was told to email them with my account number and name and they would close it. That email took me all of 2 minutes to write. Now to see how long x.com takes to actually close this account.
But on a more positive note, I also went to another site that pays you for your opinions on things and left a review on x.com because I was so irritated. In the last half hour, I have gotten $.60 off that opinion. Not bad for telling it like it is.
edited because I forgot to add a few key words and can't spell.
[ edited by sweil on Oct 3, 2000 08:03 AM ]
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feistyone
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posted on October 3, 2000 07:22:12 AM new
We are sure going to close our x.com account. Bank of America only charges us $6 per month. It seems that the good folks at x.com are not satisfied with just charging us per transaction fees on our PayPal accounts.
[ edited by feistyone on Oct 3, 2000 07:26 AM ]
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sweil
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posted on October 3, 2000 07:32:30 AM new
yisgood, I was told on the phone to email them at [email protected] and request your account to be closed. I emailed them right away and got a reply from [email protected]. Hope this helps.
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rosiebud
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posted on October 3, 2000 07:35:03 AM new
After getting off the phone with X.com this is the info they gave:
NOW accounts are accounts that are currently there. (Gee, what an unique name huh?)
If you want to close your account, make sure you have nothing in the mutual funds/etc area. If you do, you must sell them first.
Once you've done that, than go to "help" and then "email" and tell them to close your account. Any balance in your checking account will be paid by them sending a check to you within 2 weeks. If you have any overdrafts, they must be paid before your account will be closed. X.com will verify your closure by sending you an email.
Closures can also be done by faxing or writting to them.
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ksterni
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posted on October 3, 2000 07:51:36 AM new
Thanks for all the additional info, folks.
One question remains: if I close my x.com account(s), can I still receive/send PayPal payments?
Thanks.
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millicent_roberts
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posted on October 3, 2000 07:58:18 AM new
So this is it. I am SO disappointed. And I am having this little thought in the back of my mind, hmmmmmmm.....could they be doing this so we will learn to love billpoint? Or another payment method?
Just thinking out loud. Sorry.
There is an email that is two pages long about this from PP. I've never understood where x.com and PayPal stood, together or apart.
[ edited by millicent_roberts on Oct 3, 2000 07:59 AM ]
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flynn
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posted on October 3, 2000 08:00:22 AM new
I just got off the phone with Paypal customer service and they informed me that one has nothing to do with the other. In other words, the $12 monthly fee has nothing to do with your Paypal account. (Insert for now anyway)!
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katdoc
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posted on October 3, 2000 08:03:17 AM new
We received the email this AM also....Don't
think we will keep the account either, our
regular banks do not charge fees this high
on our personal account or business account.
$12.00 is not a reasonable fee especially when you take into consideration they are strictly online no offices, no big overhead except for employees and internet--so why should the charge be more than most brick & mortar banks which has much more overhead.
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ksterni
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posted on October 3, 2000 08:03:39 AM new
Yes, what flynn said.
Just got off the phone with them. At this time the x.com and PayPal accounts are separate accounts. You CAN close the x.com account & still accept PayPal payments. The PayPal payments are subject to the PayPal fee structure, but NOT subject to $12 minimum if $100 balance is not met.
I will be closing my x.com account!
To close account, email them at [email protected] with your name & account number.
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yankeejoe
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posted on October 3, 2000 08:06:00 AM new
If you're going to close your account, write yourself a check for most of the balance, then wait til the check clears x.com and close your account. It would probably be faster than having them mail you a check after the account closes.
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katdoc
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posted on October 3, 2000 08:10:37 AM new
Oh--does anyone out there have any info on
another online bank for us, we don't mind
paying a small fee but not $12.00 per month
just for a pass through bank for paypal funds.
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millicent_roberts
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posted on October 3, 2000 08:29:01 AM new
I do not understand. Am I a member of x.com via PayPal or not? If I am, I didn't intend to be. I think I'll go find out now.
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ksterni
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posted on October 3, 2000 08:30:56 AM new
Regarding the question on other online banks:
Someone posted this in my other thread (in the AW partner forum):
SFNB.com is an internet bank that currently does not require a minimum monthly balance and offers a limited number of rebates on foreign ATM fees.
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