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Last edited by BringOnTheMen; 07-28-2012 at 09:30 AM.





First step, read the terms of service for your account. Terms of Service are the contract. Then check with the bank and see if they have changed the TOS. If reversal and charges are allowed by the TOS or its revisions, it still helps to ask the bank nicely to reverse the charges.
Second step, STOP OVERDRAWING YOUR ACCOUNT!
If you need money and don't have it in your account, talk to the bank about a loan or better yet, stop spending money that you don't have. Make a budget and stick to it. Save money rather than spend all you have and borrow more. You will never overdraft yourself to wealth and prosperity.
HTH
Z





^^^ actually this is the unintended consequence of recently enacted financial 'consumer protection' laws. No bank is now allowed to offer overdraft protection ( or to charge overdraft fees ) without the express permission of the account holder ... which you must have officially given at some point. Once you voluntarily elected overdraft protection ( and voluntarily agreed to the terms of service that go along with that overdraft protection ), you placed yourself under the potential consequences of those terms of service.




My advice is to go talk to a manager calmly.
Each bank interupts the new legislation differently while complying with it. Some banks have a policy that all automatic reacurring electronic withdrawls are covered. If it was a one time payment that may be a different issue.
When was the last time you had your fees reversed? Many banks have been forced to be more strict on fee reversals. Most only allow a one time reversal per year if there was no bank error. Some dont even allow that.
I would let the manager know that you didnt know you did not have overdraft coverage. The rep that helped you last time did not ask if you wanted it. Make a sob story of ignorance and good intentions. Ask alot of questions about the overdraft as if you are going to keep the account and want to know how it works.
If the manager doesnt work. Call the 1800 number for the bank customer service. It is a totally different department. They tend to be more likely to give back fees then branches.
Edit to add:
Most accounts have an overdraft limit. Meaning that based on your account history a dollar amount is set for how much they will cover and allow the account to over draw. For example: Your account may of had an overdraft limit of $100. That means the bank will cover your transactions taking the account negative up to $100. After that amount is reached they bounce all the transactions attempting to withdraw funds from the account. The computer systems deterime the overdraft amount. That is what sounds like happened to you and why the transactions were reversed.
Nature knows no indecencies; man invents them. ~ Mark Twain
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