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What can be done about banks?

First of all, the outrageous fees and the outrageous process of taking debits before deposits, largest first. Then I have the added bonus of my bank just taking my damn money without explanation. Last month I had three pending transactions and plenty of money to cover them... I pull up my account and see five pending fees. I called and they could not explain and said maybe they won't go through. Of course they did. They could not explain - didn't even try. This month, they processed transactions and charged me overdraft fees and there was still money in the bank... how are there overdrafts if everything is paid and then fees taken and still money???? And the a-holes aren't working with me... yet. I'm so sick of this crap. Can we create some sort of coalition/petition to stop this stuff? Even a real overdraft can cost many times the amount of the transaction... unfair

Answer Question

Asked by figaro8895 at 4:42 PM on Oct. 31, 2008 in Money & Work

Level 26 (27,251 Credits)
Answers (14)
  • Talk to your branch manager and have them do an investigation into your acct and balance. They can give you an itemized list of transactions.

    if it is their mistake, you should not have any fees out of your pocket.

     My DH goes over our monthly statement and you would be shocked at how many errors he finds and reports. Our bank has always handled the problems with no fees to us.

    If you cannot resolve this within the bank, talk to the district manager or switch banks!


    Answer by MommasCooCoo at 4:46 PM on Oct. 31, 2008

  • I go through that crap withbank of america i hate it but i also bank with west coast they never do that in fact when we were charged for our car repairs and they place cancelled the charges before they went through then charged us without telling us later( the first time before they cancelled the charges there was plenty in the bank to cover it) Anyways they charged us where there was not enough to cover and never told us. so our bank let us pay for the charges and took off the fees without to many questions. That was west coast bank.

    Answer by youngarmywife at 4:47 PM on Oct. 31, 2008

  • This is why I use a very small, local bank. Because I've heard people make these complaints forever. When I was far from home one time last year, they called me and told me my checking account was overdrawn, offered to cover it for me, I told them where I was, couldn't do anything right then, and all was well until I came back.....of course I was a longtime customer and they knew me.

    Answer by EireLass at 4:51 PM on Oct. 31, 2008

  • You must go through US Bank. That's what's going on with one of our accts. It really pisses me off.

    Answer by rlemde at 4:52 PM on Oct. 31, 2008

  • Get it resolved and then switch banks.

    Answer by Anonymous at 5:43 PM on Oct. 31, 2008

  • A credit union usually is much more concerned about their customers, since the customers own it! I'd try one of those.

    Answer by PamJM at 8:15 PM on Oct. 31, 2008

  • Actually, this isn't as isolated as you may think. This has become the norm at almost every bank and yes, credit unions, too. I've been working in the industry for many years, and several institutions. We're told to not get into details and stick to reading the transactions and we are very limited to what we can reverse. Customers cry on the phone we can't help them.We know the acount had the funds in it at the time of purchase.
    Chase, and B of A began the trend as a way, followed by TCF, now Baxter Credit Union and others have joined in. It should be against the law and I'm shocked people are doing nothing about it. I personally dreaded after weekends and holidays the fees were outrageous because of all the spending prior to posting. You can look for a really small credit union and be sure they don't use posting standardization. This is how they are making it through todays tough economy.

    Answer by Anonymous at 5:52 AM on Nov. 1, 2008

  • I would switch banks!!! I had problems like this with Bank of America, plus paying THEM fees for having a savings account that they make money on (much more than they return in interest! I switched over to National City Bank (I believe they are nationwide, they are pretty big) and they don't charge to have any accounts, they pay decent interest rates and my deposits show up immediately. Plus they give us points for everything we do and I cashed all those points in for $300 in gift cards to use towards Christmas. They have a web site so that you can see if they are in your area. this is the first bank that I have been truly happy with.

    Answer by slw123 at 8:14 AM on Nov. 1, 2008

  • The last bank i banked with, o they pissed me off. Usually right before payday, we go out and have a fun day with whatever money we have left. maybe we just get a movie and some ice cream. Maybe we drive to the mall an hour away (usually money went first to gas, then whetever was left was usually a coffee for all of us). Maybe we'd go out to dinner. Well we went out one weekend and my husband neglected to tell me that he stopped and bought a pack of cigarettes on the way home the night before. When I checked the account balance for our fun day, it hadn't shown up on the account. We went out, grabbed some lunch and rented movies. We should have had about 2 bucks left in the account. The next morning I check to make sure my husbands paycheck went thru. I was charged 4 overdraft fees.

    Answer by Crystal1124 at 11:35 AM on Nov. 1, 2008

  • Cont. 1 for the smokes, 1 for the movie, 1 for lunch, 1 for walmart where we grabbed some candy and soda for the movie. You know how much we overdrafted by? 35 cents. The bank explained if our account is overdrafted, everything that is pending will be charged overdraft fees, not just the item that actually causes the overdraft. I was credited 2 of the fees, because the policy was. dh called the main branch and they said that if we went down there, we'd be credited the other 2 fees. A month later the same thing happened. So we went it , expecting attitude to begin with but leaving wtih reembursement of the fees. You know what they said?You've already been reembursed twice. Its been explained to you how it works. We can't give you any money back. So the computer system is shitty and its my fault? You think I purposely overdraft my account by LESS THAN a quarter? are u f-ing serious? We don't bank with them anymore.

    Answer by Crystal1124 at 11:42 AM on Nov. 1, 2008

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