So get this..about 5 years ago we had sooo many overdraft fees we literally had NO money when we got paid. I kept doing the numbers over and over trying to figure out why and FINALLY realized it all started with one overdraft and after that they were playing musical ways to get overdraft charges. They were re-ordering the charges.
So we moved to a credit union. I mean, how can you find out what YOU'RE doing wrong if they are playing musical money? So we moved to the CU and suddenly NO overdraft charges. This went on for 4 years. No overdrafts. It wasn't us. Problem solved? No. I look today because we are suddenly $350 in the hole! How did that happen?????
Now they are doing pending charges overdrafts. What??? I had the money in the bank to cover ALL charges, but since it was PENDING I MIGHT I would have been overdrawn for a $5 charge. Now...I deposited more money before the pending cleared...but they won't reverse the charges...that means that I would NOT have been overdrawn. Instead I ended up legitimately overdrawn, which wouldn't have happened if they hadn't taken $100 in MAYBE overdrawn out.
So I look it up...completely legal. It's ok to take the money out, because even though the money isn't still out, it's really out.
Now, I've seen pending before. This is one reason why no OD in years. When I see more is pending than I expected or something I make sure the money is in there. Then ALL the money clears just fine. Now, I can't even do that. I have never seen pending overdraft before. And it obviously does no good to switch, because I switched to a CU and now THEY are doing it. We pay all our bills online, everything. Now I guess we'll have to go to a cash only basis. I just can't see any reason to continue using banks at all. I tried to figure out how to keep it from happening again..one person said use the debit card, then that won't happen and another says use it as a credit card, then it won't happen. Sounds like a recipe for disaster to me either way. Cash only from now on, I guess. Going to make paying bills a pain the ass again though.
Update: Ok, I shouldn't type when I'm mad. I said I MIGHT have been overdrawn $5. When I originally looked at the account I didn't have time for much more than a glance and to see that they were showing I'd be short, so I deposited the money. However, when I ran the numbers later I wouldn't have overdrawn at all BEFORE the deposit, thus the "legitimately overdrawn, that wouldn't have happened" etc... I would not have been OD BEFORE the deposit IF they hadn't charged these fees. This is kind of a double ticked off. I'm really anal since the original banking fiasco 5 years ago. Once or twice I've made a math error and ran up and deposited more money so that I wouldn't OD and NEVER have I been charged pending OD. Then to find out that even BEFORE the deposit I wouldn't have OD...