Savings acount?

Savings acount?
I have washington mutual...under savings, i see money being taken out and it says ''INTEREST PAYMENT/SERVICE CHARGE''.

money is coming out of my savings this way.what does all of this mean..yes, this is my first acount.

p.s i havnt used this acount for a while and i couldve sworn i had money in my savings..


Answers:

Chosen Answer
mosquitojammer:  if you do not maintain a certain balance determined by bank they may charge a monthly service fee
2007-09-23 10:40:16
robert w:  Poland Spring,
Welcome to the Profitable worl of banking Ripoffs.
if u have used the account in a while -Close it tomorrow.
take ur money and buy 'Total Money Make Over' d.ramsey so u can learn what the banks pray u never ever learn - how to own ur money not be owned by it.
Even if there is no money in the account CLOSE it so they don't keep charging u.
this charge is legal.
2007-09-23 13:22:11