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Thread: I HATE my Bank! 5/3 rant!!

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    God/dess cinammonkisses's Avatar
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    Angry I HATE my Bank! 5/3 rant!!

    I've been with this bank for a little over 3 years now. On more than one occasion they have hit me with overdraft fees. There have been times when I am "over" my account my LITERALLY 2 cents and they charge me a $33 overdraft fee. Last December I got overdraft protection. Basically if I overdraft in checking they take the money out of savings to cover the balance, thus no $33 charge. They forgot to set up the account properly and hit me with $99 in overdraft (it's $33 per transaction that is overdrafted) They ended up fixing this since it was their error. Well lo and behold I get online this morning and see that yet again I'm hit with a $99 charge. After paying my rent i'm in the negative $38. Ok, so the $40 or so bux I have in savings should cover this right...F%&#ING wrong..the supervisor w/ 5/3 tells me that I had 2 pending online bill payments doing out of my account at the time, so it counts that too. So eventhough I was -$38 on Thursday, I dropped $600 into my acct at 9am on Friday!!!

    I'm almost to the point of tears. It's like fuck, how can you do a customer like that. It would be one thing if I were walking around writing checks and stuff. But I'm paying my bills online for goodness sake!

    Has this happened w/ anyone else? Maybe I'll try US Bank or National City next. Or hell maybe even a credit union!







    Some Douchebag: "[Pimp C] 12:43 am: its true we got to stick together the black people on SW CK you is teh condoleeza of SW"


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    Banned Katrine's Avatar
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    Default Re: I HATE my Bank! 5/3 rant!!

    Banks don't give a shit about you me, or anyone. I always thought that they still charged the fee with overdraft anyway, but they would pay any charges the the creditor would impose for not getting their funds on time.

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    Default Re: I HATE my Bank! 5/3 rant!!

    ya when we used to go over our funds we still got charged like $32 even though we had overdraft protection and everything...so i dont really know what overdraftprotection is for????

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    God/dess cinammonkisses's Avatar
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    Default Re: I HATE my Bank! 5/3 rant!!

    I'm starting to sign up with the ING Direct. I've been thinking about joining for a while now. I guess now is as good a time as any.







    Some Douchebag: "[Pimp C] 12:43 am: its true we got to stick together the black people on SW CK you is teh condoleeza of SW"


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    Default Re: I HATE my Bank! 5/3 rant!!

    I used to have an online bank and it's a pain to make cash deposits (you have to buy money orders and then send them in and wait for them to be approved.) I think it's better to have an account like ING that you can transfer cash from your brick and mortar bank.

    So ING "checking" doesn't have fees? I see they don't have checks, just a debit card and electronic payments.

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    God/dess Bridgette's Avatar
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    Default Re: I HATE my Bank! 5/3 rant!!

    They should NOT be charging for overdrafts on billpays or debit card transactions until the transaction CLEARS, not when it's "pending". WTF?? I have sometimes had debit card transactions put my daily balance in the negative but I don't get hit with a fee unless the transaction CLEARS before I have money in the account to cover it. I watch my account daily so if I see a PENDING debit card transaction going over my acct balance I'll transfer some funds from other account or make a deposit real quick to cover it before the transaction clears.

    Were the online payments "pending" or CLEARING when you got charged? I have to say I love USBank. They have been very good to me, particularly when I had an issue beyond my control recently, they saved my ass!! I think they have branches in Ohio...

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    Default Re: I HATE my Bank! 5/3 rant!!

    my credit union gives a $30 overdraft fee... I think that's a sneaky, irritating way for the banks to make extra cash. It's such a pain in the ass!!

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    Banned Melonie's Avatar
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    Default Re: I HATE my Bank! 5/3 rant!!

    ^^^ the killer is in the fine print !!! Banks have taken it upon themselves to add fees by any plausible means lately, including not crediting deposits until the transfer / check has cleared AND booked, escrowing automatic bill payment amounts up to 7 days ahead of the payment date as a 'pending' transaction, establishing non-zero 'floor' amounts for the backup account on overdraft protection setups etc. This seems to be particularly true of commercial banks that cater to the Alt-A and subprime customer base.

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    Banned Katrine's Avatar
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    Default Re: I HATE my Bank! 5/3 rant!!

    I've had mostly good experiences over the years with BankOne, now Chase. Years ago, when I was like 19, I overdrafted by about 30 cents and they charged me. I called and bitched but they wouldn't take away the charge. But that's just the way it goes. I use them for my checking, and my own company's money market for savings. They have a branch very close to my office, and in most places.

    Even local credit unions aren't necessarily much better. I have to deal with banks all the time now, trying to get clients assets over to me. Pain in the butt!

    "Have you ever been to American wedding? Where is the vodka, where's marinated herring?" - GB
    "And do the cats give a shit? No, they do not. Why? Because they're cats."-from The Onion

    Quote Originally Posted by Mia M
    If a cupcake was tossed at me... well, I'd only be upset if it missed my mouth

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    Default Re: I HATE my Bank! 5/3 rant!!

    It almost makes the stripper/bank robber seem justified, doesn't it?

    Write to your congressman (woman). There are bills pending to crack down on banks charging excessive fees on credit cards and loans. I think that many law makers don't realize how banks are getting downright scandalous in their fees with regular checking and savings accounts.

    Have you tried getting your fees returned? If you ask the manager he/she may return your fees if you ask. Claim a hardship (true or not) and see if they will return your fees. Don't stop with the branch manager, if he/she says no. GO to corporate and keep notes on all conversations. That is a lot of money to be taking from a person's account on a "pending" transaction.

    If you don't get satisfaction through simply asking, then go to the press. I did that in 1997 with a bank doing almost exactly what is happening to you (actually, they were letting me overdraft on ATM transactions even after my account was over drawn! I was silly to assume that I had funds available even though I could still pull money out but, wtvr). SO I called the local newspaper, explained my situation (I ended up with about $500 in overdraft fees in one week), and a reporter was already working on a story about banks taking advantage of customers through overdrafts.

    Before you do anything else, definitely switch banks. I'm with ING Direct, but I don't have a checking account with them. I've been happy with them so far (they have an investment account and a regular savings account for me). I ran into the same issue at US Bank as what you are experiencing now with your current bank. My problem with them is if I had checks clearing and was short somehow, they would hold the smaller checks until the big check cleared and bounced all the small checks (ie: $1000.00 in the account and $990 rent check and different checks in the amount of $40, $12, $63 and $187 would bounce even though they technically cleared the bank first).


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    Re: I HATE my Bank! 5/3 rant!!

    Banks are in the business of making money ask for over draft protection if it at all possible for you to get it. It is credit based then you will be charged only 7 dollars for the fee. Listen if you want to make money and also have some investment help for your money so you can make sure you are set when you stop dancing let me know. I am a former dancer.

    I am particularly interested in helping African American Dancers because I have Suga-T and her brothers products to sell they will sell anywhere because they are so good. I know they will sell in the black clubs though

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    Default Re: I HATE my Bank! 5/3 rant!!

    The money you are paying in over drafts if invested in an annuity with a lump sum of a couple thousand dollars can get you going on a car note and insurance for the future. A bigger lump sum can pay your rent for you when you stop dancing and more. Contact me. You can sell the products and make money yourself too!!

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    Featured Member Vamp's Avatar
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    Default Re: I HATE my Bank! 5/3 rant!!

    Debit card transactions put a hold on a portion of the balence in your checking account. If you write a check and the check tries to clear you will be charged overdraft fees for the check if you can not clear all the items.

    An over draft loan would help you more than what you currently have. It is a small loan around a $1000. It works the same way as what you have now but the overdraft amount would go on the loan plus a small fee of a few dollars.

    Most financial institutions if the overdraft is just one item and it takes you over for less than a dollar will return the fee upon request. If you have muliple items behind it they will not.

    Keeping a check register of all your transactions is the best way to prevent from over drawing your checking account or putting everything on a credit card you pay off once a month.

    Some banks also will allow your account to go into the negative around a $1000. Why you ask? Alot of people use this so that they can pay bills. It is alot cheaper to write one check that goes into the negative pay the one fee, then it is to get a payday loan. Payday loans charge, afterall is said and done, around fifty percent interest. Ask your bank if this the case on your account. If it is ask them to opt you out of this feature.

    Asking alot of questions, being open, and not having an attitude going in will get you more solutions.
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    Default Re: I HATE my Bank! 5/3 rant!!

    I have found that my bank (Citibank) was more than willing to refund all overdraft fees (long story short, a PAYROLL check bounced due to accounting error). I paid our bills with that (mortgage, cars, insurance, etc). Since it was one of our lean times (almost 5 years ago) everything bounced. Thousands bounced. Not only did our bank refund all of the overdraft fees, but they helped us straighten everything out with the bills.

    I hate to say it, but you need to be more attentive to your balance and stop looking at your "available" balance. Keep track of your spending so you won't have to go through this again. You can call and complain to the bank, but really...if you've bounced checks before, they most likely will not remove the charges. If you do this once in a blue moon, they probably will waive the fee.

    I can assure you that if you have more than one account there that is in good standing (savings, etc)...and you have it over $5000...they'll most likely waive the fees if you threaten to take your money elsewhere.

    I think them charging fees is ok. $32 + for a computer to process fees is way excessive. $10, ok...anything more than that and it's just a rip-off.

    Vamp, about the debit cards, etc. If the debit card is used as a credit card...and it goes through when you make a transaction as a credit card...how can they charge you overdraft fees when they approved the transaction to begin with?

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    Default Re: I HATE my Bank! 5/3 rant!!

    Quote Originally Posted by Bridgette View Post
    They should NOT be charging for overdrafts on billpays or debit card transactions until the transaction CLEARS, not when it's "pending". WTF??
    Dude, that's what I'm screaming! The shi, was pending...that's why I'm like are you freaking 4real?! It wasn't even out of my account yet!!!! Yes, we have some US Banks here. I'll choose either them or National City.







    Some Douchebag: "[Pimp C] 12:43 am: its true we got to stick together the black people on SW CK you is teh condoleeza of SW"


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    Default Re: I HATE my Bank! 5/3 rant!!

    Quote Originally Posted by Vamp View Post
    Debit card transactions put a hold on a portion of the balence in your checking account. If you write a check and the check tries to clear you will be charged overdraft fees for the check if you can not clear all the items.
    That's how I understood things. I know when I call my bank I have a balance and also an amount that's available for withdrawal (balance - holds).



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    Featured Member Vamp's Avatar
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    Default Re: I HATE my Bank! 5/3 rant!!

    Debit card transactions are the same no matter if you use it as a credit card or use your pin number. The only differance is what computer the cash register calls to clear the transaction. If you use it as a credit card the register calls Visa or Mastercard's computer who then calls the banks computer. If you use your pin number the cash register calls your banks computer directly. It still comes from the same checking account. Once your bank has the transaction they process it the same way under their policy. (if you have more questions about this part let me know)

    ok lets take some examples.....

    You have $50 in your checking account. You have two debit card transactions pending for $25 each. The debit card transactions put a hold on the $50 that is already in there. Even though they haven't posted.. you really have a 0 available balence.

    You have also writen two checks for $25 dollars each. The checks post before the debit card transactions. The checks will bounce. You will get two nsf charges. Because the nsf charges eat up the $50, when the debit card transactions post to the account they will bounce too.

    Then you ask so why do they clear the debit card transactions at all then? Have you ever tried to take care of a bounced debit card transaction with a retailer directly? It takes weeks and you become flagged (just like with bounced checks) so that stores will not take your debit cards.

    The bottom line is that you are trying to use more than what is in your account. The reason the fees are so high is to discourage people from doing it.

    Put extra money in your checking account. Stop using your debit cards for every transaction. Pull out cash for groceries, gas, and smaller purchases once a week. That way you also stay on budget.
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    God/dess Bridgette's Avatar
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    Default Re: I HATE my Bank! 5/3 rant!!

    I have a $750 overdraft limit on my account. A few times I have had debit card transactions come through (usually bills that are automatically billed on my debit card) that were technically over my balance when initiated, but I did not get hit with overdraft fees because I put enough money in to cover it while they were still pending - BEFORE they cleared.

    My available balance reflects my ledger balance minus any pending debit card or billpay transactions that haven't yet cleared.

    So, if I have $250 in there and a bill for $160 and another for $100 comes in on debit card, my available balance will show -$10 because those two transactions are still "pending", but my LEDGER balance is still $250 because nothing has cleared yet. Then I have a check for another $100, making my LEDGER balance $150 and my AVAILABLE balance $-$110. I still don't get hit with fees yet because my LEDGER balance is still positive. I transfer money out of savings or make a deposit to cover the pending transactions BEFORE they clear, and voila! I am in the positive and I don't get charged any fees. I've done this a few times.

    I think this is the way it SHOULD be. Don't charge people for PENDING transactions, charge them when they CLEAR. Because 1) many debit card pending transactions are just authorizations and don't ever go through, so if they're charging people every time a PENDING transaction comes in over the account balance that'd be one helluva ripoff. 2) Pending transactions don't affect the LEDGER balance on the account - charge for negative LEDGER balances, not "available" balances

    IMO, any bank that charges overdraft fees on PENDING transactions is ripping people off.

    Agreed that people should make sure they have money in their accounts, but sometimes that's difficult because if you have your bills set to automatically withdraw you can't always know how much the bill will be....
    Many people don't keep large balances in their personal checking accounts, with good reason!

    If your bank is charging you overdraft fees for PENDING transactions, move your shit to a better bank!

    Quote Originally Posted by pheno View Post
    When you lead a nontraditional life don't try to measure it with traditional milestones.

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    Featured Member 21stcenturyfox's Avatar
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    Default Re: I HATE my Bank! 5/3 rant!!

    happens here in the UK too.

    i call them up and say, hey, your computer thinks im fucking around but its only 90p over the limit, can you pls refund me the £35 you just took out of my account for 90p, cheers thanks.

    works about 50% of the time. depends on if you get a call center person in a good mood. i had someone who was so rude to me, i put the phone down on them. they were actually reprimanding me like they were my mother or something! i was like, who the fuck do you think you are!? sheesh!
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    Featured Member Vamp's Avatar
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    Default Re: I HATE my Bank! 5/3 rant!!

    I have worked at banks in almost every capacity.

    There isnt any bank that charge nsf charges on pending transactions. The scenerio i explained above is what happens. Most people wont even listen to the explaination and make up their own conclusions about what happened.

    If you have pending transactions and you deposit money to cover them, after they are made of course, your not going to get nsf charges.

    Yes I have even worked over the phone and yes i have lectured people lol. When it is the 100th call of the day and its the same story, they are doing the same thing again and again, and yet they still think they should get a credit.... it gets old. Not only that I am not allowed to return the fee.
    Nature knows no indecencies; man invents them. ~ Mark Twain


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    God/dess Bridgette's Avatar
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    Default Re: I HATE my Bank! 5/3 rant!!

    ^^Ck's post sounded like she got charged for pending transactions. And your post also sounded like you were saying banks normally charge on pending transactions if the available (not ledger) balance is negative and a check comes through. We're not talking NSFs, we're talking overdrafts. In my example, if I didn't cover the balance before the pending transactions cleared I'd get overdraft charges (nothing's gonna bounce), but since I cover it while they're still pending I don't get charged. Either way, there should never be a charge on anything that hasn't cleared yet.

    Quote Originally Posted by pheno View Post
    When you lead a nontraditional life don't try to measure it with traditional milestones.

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    Default Re: I HATE my Bank! 5/3 rant!!

    5/3 sucks large balls. My husband's band is with them. They recently had a spate of overdraft fees due to someone who was no longer authorized to use the account using it. They wouldn't refun over $300 in fees. He and I have both been in IN person at least 3 times to straighten this out. Each time they swear it is fixed. JUST yesterday my husband got a new debit card in the mail for that account--in the name of the known embezzler!! Of course, my husband's band never has more than $5000 in the account, so no one gives a shit what we have to say.

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