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As far as I'm concerned, online banking is one of the great miracles of the 21st century. Paying my bills online saves me 2 full days every month - the one I used to spend balancing my checkbook and the one I spent writing the month's new batch of checks.

Emigrant Savings has a pretty decent online banking tool. They're also neighborhood-friendly at the branch level, which is why I've stayed with them all these years. Unfortunately, last month the bank charged me $50 for excessive online transfers from one of my savings accounts. It turns out there is a limit to the number of transfers you can make out of a savings account online: six. But if you make the transactions at the ATM or the teller window, there is no fee at all.

Here's my issue: online banking saves banks oodles of money.  No overhead, no tellers. So why does the bank limit transaction activity online? It's not like they need to recoup costs by passing them on to their customers. 

I was so mad I cancelled that account. Good going, Emigrant! I've only been a customer 20 years. Was the $50 really worth it?