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#1 of 82 Old 07-28-2008, 10:46 PM - Thread Starter
 
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I deposited my paycheck on Thursday at 3 PM. Then I drove to the grocery store and used my debit card to pay for groceries. Even though my debit did not post until the next day, they said I was overdrawn and it made three items bounce and cost us $105.

I never would have gone to the store had I known that would happen. I used to work at a bank and we did not do it the same way, apparantly. I asked if they could remove the fees for me. They wouldn't. I talked to like, 8 people, got hung up on once, begged, cried, argued. Nothing. When I worked at a bank we used to do it to be nice as long as it wasn't happening every month.

I needed the money because I have a lot of medical bills I am paying off. I am really frustrated that they would not even take some of the fees off to retain us- we have been there for 10 years- over 10, actually, because my DH had that account long before he met me.

Anyway, I am sad and frustrated I just needed to vent to someone who might understand.

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#2 of 82 Old 07-28-2008, 10:48 PM
 
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#3 of 82 Old 07-28-2008, 11:35 PM
 
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That just stinks! I'm so sad for you, and angry that banks can play games like this. If you have the option, check out a credit union. Since they are non-profit, they aren't looking to trick people into all sorts of additional fees. I'm sorry they were such a$$es.
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#4 of 82 Old 07-28-2008, 11:47 PM
 
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I don't understand. You made the deposit and then went to the store? Why would the debit come out before the deposit? That's not fair! (But I'm preaching to the choir, huh?)

So sorry that happened to you. I'm beyond mad when I've made a bank error that costs me money. But to have something so incredibly unfair like this happen and they won't take the charges off...well, it would be the end of that banking relationship.

Seriously, just go there tomorrow and close your account. (If you can, of course.) And I would be sure and let them know why you are doing so.
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#5 of 82 Old 07-28-2008, 11:48 PM
 
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I am so sorry. It's happened to me too.

mom of 3 , homeschooling the oldest with google and the internet
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#6 of 82 Old 07-28-2008, 11:50 PM
 
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I live in Canada, and my bank allows me a $500 'cash back' policy. It's basically money that I can access without a hold. So, if I deposit a cheque for $650, I can access $500, but the remaining $150 is held.

Is there a similar policy where you bank?

So sorry about the fees. It's awful to lose money.
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#7 of 82 Old 07-28-2008, 11:52 PM
 
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I have found that they are kinder and more likely to work with you if you go in in person. It is easy to say "No" when they don't have to say it to your face. I have found that if you go in they really do pull up your acct. info. and see that you don't do this regularly. They see it with their eyes that you made a mistake. I also noticed that when you call they don't look it up they just say no. Often we you call you are talking to a cashier. They aren't paid enough to think or use their brain. When you go in you most likely talk to someone higher up. Someone interested in keeping your business. Your business=their raise or promotion.
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#8 of 82 Old 07-29-2008, 12:01 AM - Thread Starter
 
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I am going in tomorrow to talk to a person. I can't close it tomorrow, because my rent check is in the mail. However, I fully intend to withdraw the rest of the money and take it to the credit union and open an account there. Then when my rent clears, I will close out the account.

It just seems crazy to me that for a 10+ year account, they wont take off even one of these fees. When I worked for a bank, we had a whole department that was for retention of customers. So if I could not truly refund a fee, there was always a chance that a supervisor would to keep the customer.

And her hanging up on me was totally rude. I was nice to her, and explained that I truly had no idea that a debit I made 45 minutes after making a deposit would cause my account to overdraw.

I live paycheck to paycheck, geez. We just don't have the money to blow. As it is, we will have to go without groceries next time to cover up for the loss.

But it is like, talking to a wall. I was just shocked at how different this bank was from the one I did customer service for. Sadly, the one I worked for is not anywhere near where we live, and my job does not offer direct deposit, so I have to have a physical bank I can make deposits at- or else I would switch to the one I used to work for instead.

The saddest thing of all, is that I could have asked for $160 cash back and used that to get the groceries, avoiding all of this

I am just very upset. But backed in to a corner. I talked to 8 people. I am praying that the people at my branch can help me out tomorrow.

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#9 of 82 Old 07-29-2008, 12:26 AM
 
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I hope that your in-person appeal works.

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#10 of 82 Old 07-29-2008, 12:35 AM
 
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very very VERY good luck to you tomorrow!!!

the whole thing is SO obnoxious, annoying, "miser-ly" and unfair of them...
I'll be keeping my fingers crossed for you
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#11 of 82 Old 07-29-2008, 02:05 AM
 
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yipes, that sucks. Our bank only counts deposits up until 2 pm, even though they're open until 5 pm. I hope they wave the fees when you show up in person. They should be able to look at your bank history and wave them if you've been a good client.

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#12 of 82 Old 07-29-2008, 02:15 AM
 
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OMG! This just happened to me on Thursday. I ran (literally) with my 2 kids to beat (what I thought) was the 4:00 cut-off for ATM deposits. Well, I then withdrew $20 for gas and bought $20 in groceries...of course, it allowed ,me to make these transactions...no problemo! So, the next day we buy 20 in gas....
Okay, it's now Saturday and we go online to check on what should be about $4 left in our account...WTF?! 2 Overdraws and 2 $35 overdraft fees!? HUH?? For what? I had deposited enough to cover everything...
Turns out, my bank now has a 3:00 deadline. I woke up my napping tot and dragged both kids in a hurry down there so we could put gas in our empty vehicle and put food on the table... and that MFing bank has not only stolen back my money, but because of the OD fees, I now have three more items pending that will further overdraw our account.
The very saddest part? IF they had just let me spend the money I DEPOSITED, I would still haev money left:. Bastards.
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#13 of 82 Old 07-29-2008, 02:53 AM
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I hope the in-person visit works for you.

Does depositing at a teller vs at an ATM make a difference? I only do the ATMs because of personal conflicts with the bank and what they consider swear words but I always check available balance. Now I am worried about the funds not really being there.
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#14 of 82 Old 07-29-2008, 04:59 AM
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I'm sorry that happened to you.

I've made bad, BAD accounting errors that have added up to hundreds of dollars in overdraft fees alone.

Honestly? There is rarely such thing as customer service anymore.

If you've been with your bank for 10 years, I would recommend closing your account with them and taking your business elsewhere, especially if you're doing business with a "megabank" (Wachovia, Bank of America, etc) and switch to a smaller company or credit union-type bank. We closed our Wachovia accounts and moved to a smaller, local bank...we established a relationship with the employees who worked in one particular branch, we made it our bank "home." Now, if we have any problems, it is easier for us to get some assistance because we're more than just a number to some customer service rep. who is being held to guidelines.

Really, really, really...I'd close my account with that bank and tell them specifically why you are doing it, in writing, even. I'd contact that branch manager and inform him/her that you have been a customer for 10 years and that due to the extreme lack of customer care and apathy you received during this one-time event, you were taking your business elsewhere...

It might not make a difference to your bottom line right now, but it will make you feel better, telling the bank how it is, keeping them from making money off of your money in their institution, etc. etc....They work for YOU. You are their customer, not their prisoner. Fire them.

I'm sorry your account got screwed up. I know how disastrous that can be.
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#15 of 82 Old 07-29-2008, 05:02 AM
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Quote:
Originally Posted by lalaland42 View Post
I only do the ATMs because of personal conflicts with the bank and what they consider swear words but I always check available balance. Now I am worried about the funds not really being there.
Would.not.do.business.with a company I felt a personal conflict with like this, especially not entrusting said company with caring for my money.

No way.
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#16 of 82 Old 07-29-2008, 10:31 AM
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Originally Posted by cjanelles View Post
Would.not.do.business.with a company I felt a personal conflict with like this, especially not entrusting said company with caring for my money.

No way.
Yeah I will be moving soon and so will my money.
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#17 of 82 Old 07-29-2008, 10:46 AM
 
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That is really harsh! I would be very upset too. I hope going into the bank will help.
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#18 of 82 Old 07-29-2008, 11:05 AM
 
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Consider a local bank, I overdrew my account by $200 accidentally a couple weeks ago (screwed up and scheduled too many transfers combined with an atm withdrawal) and I got a personal phone call from the bank to let me know (as in, someone who works at a local branch called, not some automated service) and they didn't charge me a dime. Of course, it may be because I have what they call a 'prize account' - my checking is secured with a CD. THey cater to businesses mostly.

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#19 of 82 Old 07-29-2008, 11:14 AM
 
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Wow, I'm really sorry that happened and I think it truly SUCKS that banks are allowed to do these things. I hope you have good luck with getting your money back today.

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#20 of 82 Old 07-29-2008, 11:23 AM
 
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I am so sorry that that happened to you ! I am so sick of our bank as well; your deposit is pending for 2-3 days, but debit card purchases show up within minutes of use. I think it's set up that way deliberately so they can collect their outrageous fees for using your card, and so they can collect their interest on your deposit before you spend it.

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#21 of 82 Old 07-29-2008, 12:03 PM
 
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Originally Posted by mommyofmany View Post
I am so sorry that that happened to you ! I am so sick of our bank as well; your deposit is pending for 2-3 days, but debit card purchases show up within minutes of use. I think it's set up that way deliberately so they can collect their outrageous fees for using your card, and so they can collect their interest on your deposit before you spend it.

that's probably true. I heard on NPR that banks make a lot of their money through fees like these. :
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#22 of 82 Old 07-29-2008, 12:07 PM
 
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I am so sorry for you. Something like this just happened to us. They wouldn't do anything when i called. DH is supposed to call. If they can't help us out, we will be leaving their bank and joining a credit union.

It might be time for you to think about leaving. good luck.

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#23 of 82 Old 07-29-2008, 12:07 PM
 
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I think bank fees suck. It is $35 per overdraft fee at BOA. YIKES! I can't afford that! I overdrew in the first place because I don't have any money, and then to tack on a $35 fee?

The time that made me the most mad is when we went to get ice cream. The ice cream was $4. Add in the fee and that was the most expensive ice cream I've ever eaten. I was kicking myself for days. It's been over a year and I'm still kicking myself!
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#24 of 82 Old 07-29-2008, 12:17 PM
 
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I'm so sorry that happened to you. It seems like the banks make the most $ off people who aren't able to afford it It's threads like this that make me glad we use our CC for all purchases possible. That way, I only have to remember to transfer/have money in checking the 1st week of the month (when our mortgage and CC payments are taken out). Granted, I pay the CC in full every month, but a 1x overdraft fee is much better than all the smaller ones. Oh, and our credit union let us set up to auto transfer up to $x from savings in case of accidental overdraw (but this only works if you're not living paycheck to paycheck).
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#25 of 82 Old 07-29-2008, 01:01 PM
 
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This is indeed frustrating, especially since they take no responsibility for their part, and their fees compound the situation exponentially (i.e. after you have the fees on your account, you are likely to have other transactions in the works that will also then overdraw, while they probably wouldn't have if it weren't for the fees).

This happened to us 1.5 years ago. My grandmother died, we flew down. DH used the debit card for everything and since it was accepted each time, figured there was money in the bank (he wasn't really thinking). We came back home and had a notice of 9 overdraws at $25 each - $225. Some of those were for $5 transactions.

We didn't contest it because DH really wasn't thinking, but I feel very angry that they would accept each of our transactions. Checks are different, obviously, but the idea of running the debit card through the machine is so the bank can give a green light or a red light to the transaction. They happily accepted every one of our transactions while overdraft fees piled up and our account plunged deeper and deeper into the negatives. To me, that is immoral and unethical. The charges should have been declined. Not to mention, does that mean if our debit card is stolen, a theif can steal far, far, far more than we even have in the account? Is there any limit?

DH now only uses the CC for purchases.

Homeschooling mama to 6 year old DD.

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#26 of 82 Old 07-29-2008, 01:17 PM
 
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You should be able to call your bank and have POS debit transactions refused if there are insufficient funds. Banks do make a ton of profit from fees. They claim it is a service and while it may be embarrassing to have your card declined, I personally would prefer that to OD fees.
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#27 of 82 Old 07-29-2008, 02:07 PM
 
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You should be able to call your bank and have POS debit transactions refused if there are insufficient funds. Banks do make a ton of profit from fees. They claim it is a service and while it may be embarrassing to have your card declined, I personally would prefer that to OD fees.
I just read an article about this issue yesterday by one of my favorite financial collumnists Liz Pulliam Weston. She listed several banks that you CANNOT switch off the "courtesy" bounce protection. Another banking scam.
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#28 of 82 Old 07-29-2008, 04:12 PM
 
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Debits are processed before deposits in most banks. It increases their income. It sucks. And it's legal.

Never deposit in the ATM. It may say that you have the money, but it's not actually credited to your account until the check is processed in the after-hours accounting that banks do. Until a person looks at the check, they don't know the funds are there. Never deposit cash in an ATM!!

It's best to use a local bank, meet the bankers/tellers there and build a relationship. Go into the bank, even with squirmy young kids. It makes a difference. I've had fees reversed, even ones that were my fault where I asked them to do it as a courtesy. It worked, because I had a relationship.

good luck with the fee reversal!

Mom to DD1 (11/1999),  DD2 (07/2003), and DS (11/2012), all born at home and cloth diapered. 

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#29 of 82 Old 07-29-2008, 04:28 PM
 
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I hope they reverse it for you today.

I've been making an effort to pay for everything (other than bills I'd be writing checks for) in cash so that we don't do that to our account anymore.

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#30 of 82 Old 07-29-2008, 04:41 PM
 
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You can also consider filing a complaint with the Federal Reserve: http://www.federalreserveconsumerhel...nfo.cfm?info=1

If you get nowhere, let the bank know you'll file the complaint with the Fed and with your state's Attorney General as well.
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