Fifth Third Bank 5/3 bank Overdraft fee scam & lots of lies Saginaw, Michigan

You state the bank denied you overdraft protection...then all these overdrafts came in..and then your card was denied at the store buying diapers? So if it was denied that means you did not actually have OD protection...but then why are you getting overdraft charges??

I think this is all part of the banks scheme to rip you off. And trust me..you are better off not having the OD protection..or you would of had more fees due to the diaper purchase..and that may have triggered even more fees..its a bottomless money well for the banks as you found out.

Now there are different types of OD protection..and banks call them by different names. One of my current banks has "overdraft protection" as a standard and "free service". It comes with the account and they will never ask if you wish to opt out..since this works in conjunction with the re-sequencing to maximize the fees. They offer an optional service called "overdraft transfer service" which will link to my savings account. It is not perfect because if you have under $10,000 in the account..you still get charged..but only $12.00. If you have over $10,000..then overdrafts are covered free of charge..but then again most people who have over $10,000 in the bank are less apt to overdraft..and if they do it would not hurt near as much as a paychack to paycheck customer..and it hurts.

Since this is a business account the rules may be different..I would read over the trems if I were you.

As far as the re-sequencing highest to lowest..that is where they can really sock it to you. It seems some banks have found a way to alter time legally..use it to their advantage to profit..and never ask you if you want your transactions processed this way..they take the assumption that the larger transaction are more important..but how do they know you didn't spend $800 to go to a ball came..and $30.00 was your heart medication? It's all a rouse...and it's BS. Besides..if you do have this type of OD "protection..wouldn't it cover a $1000 transaction that overdrew the account by $50.00...or a $100.00 transaction that overdrew the account by $50.00? See how this works now? Those bastards.

Anyhow..enter various banks into the search on the top right of this page and read through even more reports. We have the ball rolling to make some changes and you may be getting a letter soon. You can also actively participate so keep all your records and use the info you will find on other reports. Don't pay too much mind to the nay sayers...they are just Buzz Killingtons and think the only solution to this is to throw ALL the blame on the customer..and request they keep a register..just like the bank will tell you..funny. No, in this country we fight for what is right no matter what..or become another victim eventually.