I HATE banks - so fed up right now /rant

[emilyann]

Originally Posted by BamaFan121s

I feel you pain! I hate my bank too! I plan on changing to a different one in the VERY near future.
Not long ago I screwed up and entered a check in my register as a deposit...I overdrew my account, but caught it very quickly when the first payment ran through. I went into the branch and asked for my current balance so that I could make a deposit to cover the negative balance, PLUS 2 other transactions I'd made w/ my check card. They gave me the balance, I made the deposit thinking 'problem solved.' WRONG! The next day, the 2 outstanding payments posted WITH 33.00 OD fees attached to them. I went back to the bank for an explanation...how could these have not been covered when I made a deposit BEFORE they posted? I was then told that they had actually already run through before I made the deposit(!) OK, then WHY didn't you include them when I asked for my total yesterday!? Then they told me...get this...'It's not our job to nor do we have the ability to give you an accurate balance on your account!?" WTH...yes, that is your JOB as the BANK! Idiots.

Oh, I know what you mean, it's really ridiculous. They have their ways of working to cheat you out of lots of money with their stupid fees.

They did call me this morning and apologize and say it was their fault and that they processed the transaction to many times! Definitely keep an eye on your bank accounts people, I don't want the same thing happening to you and it going not noticed!!

[alisonJ]

I hate this about banks:

They process your checks from any given day, not in the check number order, but in the order of largest to smallest. That way, if you are overdrawn, you will bounce more checks and they will be able to charge more fees.

They say they do this so that "your most important expenses will be processed first." Thanks a lot.

[SladesMommy]

Originally Posted by alisonJ

I hate this about banks:

They process your checks from any given day, not in the check number order, but in the order of largest to smallest. That way, if you are overdrawn, you will bounce more checks and they will be able to charge more fees.

They say they do this so that "your most important expenses will be processed first." Thanks a lot.

Yup! Wachovia got me on 3 nonsufficient funds charges by doing that w/ my debit card. The thing was I purchased things at two different places w/ my debit card on a Thursday. Then I made my car payment on Friday and the money from paypal didn't go in til after that. But somehow all 3 charges went through at the same time and even though I had money to cover the two I made first, they charged me $100 in overdraft fees.

Once I get the account back in the black and make my next car payment I'm seriously considering closing the account and either doing a cash only system, or moving my acct. to a smaller local bank that actually care about their customers and dont' try to rip them off.

[annabelle's mom]

Originally Posted by emilyann

This is confusing me, what do you mean by "holding" amounts larger than your gas purchase? Sorry, I'm a little loopy in the brain!

When you use your debit card the merchant can place a hold for a larger amount until their debit has time to clear. Gas stations are notorius for doing this. When another item trys to pay it could cause you problems because the money may be in your account balance, but unavailable for you to spend due to the hold. If you have online banking notice that you have a current balance and then you may have items that are
processing (usually these are things you have purchase since the previous days cutoff time or over a weekend). I worked for Wachovia for 39 years and I agree, banks can be sneaky when they pay a large item and send back several small items and charge NSF fees. Usually we would refund all or part of the charges if it was the a first occurrence. The bank takes the position that the customer should keep their check register balance current and not depend on the "current balance" from calling or from the atm, since its impossible for them to know what's out there waiting to be paid. One other thing, when the bank looks at possibly giving refunds, the first thing they look at is how many NSFs and overdrafts a customer has had and how old the account is. In that respect, changing banks may not always be in your best interest. Most all banks have the same guidelines that they follow. Often if helps to become acquainted with a service rep at your bank who will work with you to understand "THE RULES!!. Hope this helps a little by way of explanation......P.S. I'm glad I retired !!!!