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The bank is screwing with me

Andrew1990

Andrew1990

Banned
Anyone ever have a problem with the bank charging you for several overdrafts instead of one. Here is what happened.

I made several purchases and left about $7 in my checking account.


2 days later I made a single withdrawal from my checking acount for $40 expecting 1 overdraft charge.

Instead they put the purchases from 2 days previous in front of the $40 withdrawal and charge me $36 per overdraft.


I went to the bank to complain and they were like, well we will split the cost for you this one time. I was like fuck that shit, I wont accept that. Now I am playing phone tag with a District Manager, trying to get them to wave those fees.

I told them I will accept the one $36 fee for the first overdraft but they refuse to do that because they want all my money.

I fucking hate banks. First they deposit and withdraw money from my account to fuck with my head and now they do this shit! Fuck them.
 
Get overdraft protection for your checking account.

I have an unsecured line of credit with my checking account.
 
Andrew1990 said:
Anyone ever have a problem with the bank charging you for several overdrafts instead of one. Here is what happened.

I made several purchases and left about $7 in my checking account.


2 days later I made a single withdrawal from my checking acount for $40 expecting 1 overdraft charge.

Instead they put the purchases from 2 days previous in front of the $40 withdrawal and charge me $36 per overdraft.


I went to the bank to complain and they were like, well we will split the cost for you this one time. I was like fuck that shit, I wont accept that. Now I am playing phone tag with a District Manager, trying to get them to wave those fees.

I told them I will accept the one $36 fee for the first overdraft but they refuse to do that because they want all my money.

I fucking hate banks. First they deposit and withdraw money from my account to fuck with my head and now they do this shit! Fuck them.
Click to expand...

Ummm, so you're saying that you intentionally overdrafted your checking account (you made a withdrawal "expecting" one overdraft charge). Now you want the bank to be complicit in your check fraud? Good luck with that.
 
mfenn said:
Ummm, so you're saying that you intentionally overdrafted your checking account (you made a withdrawal "expecting" one overdraft charge). Now you want the bank to be complicit in your check fraud? Good luck with that.
Click to expand...

I used the overdraft protection on my account which they specifically told me when I signed up I could use in case of an emergency, but it would cost $36 per transaction. I over drafted 1 transaction, but they are trying to put the smaller transactions ahead of the large one.
 
Andrew1990 said:
I used the overdraft protection on my account which they specifically told me when I signed up I could use in case of an emergency, but it would cost $36 per transaction. I over drafted 1 transaction, but they are trying to put the smaller transactions ahead of the large one.
Click to expand...

Lol, do you even know what overdraft protection is?

Overdraft protection is a LINE OF CREDIT. You got hit with overdraft FEES.
 
mfenn said:
Ummm, so you're saying that you intentionally overdrafted your checking account (you made a withdrawal "expecting" one overdraft charge). Now you want the bank to be complicit in your check fraud? Good luck with that.
Click to expand...

There is no fraud here on the part of Andrew1990. The bank covers his overdrafts (up to a preset limit) and charges him the overdraft fees. His account goes negative until he deposits/transfers enough to cover the discrepancy. The person receiving the check/debit that bounces gets their money as if everything is fine.
 
mfenn said:
Lol, do you even know what overdraft protection is?

Overdraft protection is a LINE OF CREDIT. You got hit with overdraft FEES.
Click to expand...

I understand the fee of $36, but when the bank rearranges it in their system, that is not right. I am pretty sure Bank of America had a Class Action Lawsuit a few years ago about the same exact thing.
 
Andrew1990 said:
I understand the fee of $36, but when the bank rearranges it in their system, that is not right. I am pretty sure Bank of America had a Class Action Lawsuit a few years ago about the same exact thing.
Click to expand...

What you have is not overdraft protection, and if it is, it's the worst overdraft protection ever.

I have an unsecured line of credit, which at any time I can withdraw money from (no matter how much I have in my account) and I pay a interest on it like a credit card. No fees, no other charges, just a small amount of interested based on the number of days the money is outstanding.
 
JMapleton said:
What you have is not overdraft protection, and if it is, it's the worst overdraft protection ever.

I have an unsecured line of credit, which at any time I can withdraw money from (no matter how much I have in my account) and I pay a interest on it like a credit card. No fees, no other charges, just a small amount of interested based on the number of days the money is outstanding.
Click to expand...

May I ask what bank you are with. Sounds pretty nice just paying interest instead of large fees.
 
AnonymouseUser said:
There is no fraud here on the part of Andrew1990. The bank covers his overdrafts (up to a preset limit) and charges him the overdraft fees. His account goes negative until he deposits/transfers enough to cover the discrepancy. The person receiving the check/debit that bounces gets their money as if everything is fine.
Click to expand...

Fair enough. I started writing my post before the OP updated with the info that he had overdraft protection. IF you don't have overdraft protection, intentionally writing a bad check is in fact check fraud.

Andrew1990 said:
I understand the fee of $36, but when the bank rearranges it in their system, that is not right. I am pretty sure Bank of America had a Class Action Lawsuit a few years ago about the same exact thing.
Click to expand...

The transaction date is immaterial. What matters is the posting date. The document you signed when you opened your account likely states that the bank can reorder transactions which will post on the same date into whatever order it so chooses.
 
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JMapleton said:
What you have is not overdraft protection, and if it is, it's the worst overdraft protection ever.

I have an unsecured line of credit, which at any time I can withdraw money from (no matter how much I have in my account) and I pay a interest on it like a credit card. No fees, no other charges, just a small amount of interested based on the number of days the money is outstanding.
Click to expand...

Judging by the OP's username, he probably doesn't have enough of a credit history for the bank to give him such a line of credit (esp. in today's environment).

OP, it seems like you are with BofA. Do you have one of their credit cards? If so, you can use that line of credit for overdraft protection. Essentially, if you would overdraft, the bank instead makes a cash advance charge to your credit card.
 
mfenn said:
The transaction date is immaterial. What matters is the posting date. The document you signed when you opened your account likely states that the bank can reorder transactions which will post on the same date into whatever order it so chooses.
Click to expand...


I dont remember reading anything like that but I will double check. Anyways, I just needed to rant a little because what they have been pulling on me is BS.

They did credit me my $100 incentive for signing up 3 months ago at least. So it brought my Overdrafts down to $120. I still wont give in until I get it down to that $36 single overdraft though.


OP, it seems like you are with BofA. Do you have one of their credit cards? If so, you can use that line of credit for overdraft protection. Essentially, if you would overdraft, the bank instead makes a cash advance charge to your credit card.
Click to expand...

No I am with a local bank called centrue. One of the most moronic banks I have ever dealt with.
 
Andrew1990 said:
May I ask what bank you are with. Sounds pretty nice just paying interest instead of large fees.
Click to expand...

It's a regional bank, unless you're in the midwest, I doubt you could sign up with ease. It's First National Bank of Omaha. They also have one free refund of overdraft charges per year, so if you don't have overdraft protection and overdraft they will cover it and refund you once a year.
 
JMapleton said:
It's a regional bank, unless you're in the midwest, I doubt you could sign up with ease. It's First National Bank of Omaha. They also have one free refund of overdraft charges per year, so if you don't have overdraft protection and overdraft they will cover it and refund you once a year.
Click to expand...

I may have to look into that. I am certainly not staying with this bank.

Heck the first week I had the account, they had no idea that I opened the account with $200. They kept charging me overdraft fees but waived them after a week. WTF type of bank can't keep records straight?
 
I had a bank charge me an insufficient funds fee because of an overdraft fee, then an overdraft fee because of the insufficient funds fee!
 
I Saw OJ said:
I had a bank charge me an insufficient funds fee because of an overdraft fee, then an overdraft fee because of the insufficient funds fee!
Click to expand...

Yep, banks love that shit.

OP, I'm not saying what the banks do is right, per se. I'm just saying that you agreed to let them do it.
 
Yeah there's somewhere in your banking agreement that says they can rearrange transactions from smallest to largest. They do this to maximize their fees
 
Andrew1990 said:
I may have to look into that. I am certainly not staying with this bank.

Heck the first week I had the account, they had no idea that I opened the account with $200. They kept charging me overdraft fees but waived them after a week. WTF type of bank can't keep records straight?
Click to expand...

The situation with my bank is very common and you should be able to find a decent local or regional bank that can offer the same. Avoid the national banks, they treat you like a number, and avoid the small local banks, they don't provide enough services IMO. Find a large regional bank with a good rep.
 
you are screwing with yourself, or with money that you don't have.

you should not let bank do any fees on you.

On their side, they don't have much benefit of your low-balance account, so they have plenty of fees to keep them profitable even for accounts near zero balance.
 
JMapleton said:
Get overdraft protection for your checking account.
Click to expand...
Better yet, get a credit card. 20% yearly interest with a 20 day no-interest period is a hell of a lot better than immediately having a $30 overdraft fee + other bullshit fees that add up really fast while the account is overdrawn.

If you already have a credit card, you can probably get a line of credit at a lower interest rate.
 
ShawnD1 said:
Better yet, get a credit card. 20% yearly interest with a 20 day no-interest period is a hell of a lot better than immediately having a $30 overdraft fee + other bullshit fees that add up really fast while the account is overdrawn.

If you already have a credit card, you can probably get a line of credit at a lower interest rate.
Click to expand...

I use credit cards for nearly everything. Rewards points plus the convenience of not needing to carry a wad of dirty money. Debit cards however I do not recommend because they're often different to get refunds in situations of fraud and it's more trouble if the number is stolen compared to a credit card.
 
I love these threads. You go what you deserved.

Keep some money in your damn account or get a credit card.
 
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