• Report: #714901

Complaint Review: PNC Bank

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  • Submitted: Thursday, April 07, 2011
  • Last Posting: Friday, April 08, 2011
  • Reported By: VERY DISATISFIED PNC customer — Davis Junction Illinois United States of America
PNC Bank
4615 E. State St Rockford Illinois 61107 United States of America
  • Phone: 815-395-3637
  • Web:
  • Category: Banks

PNC Bank 4615 E. State St. Rockford Il 61108 No Notification on account changes Rockford , Illinois

*Consumer Comment: Not a rip off


2Author 6Consumer 0Employee/Owner

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I am a very, very disatisfied customer of PNC Bank - I have recently noticed that when transactions are being posted to my account they are not posted as they should be when they are received. Instead the bank takes the largest amount and posts that first leaving all the smaller transactions to last. Due to this I have been charged exuberant overdraft fees. I contacted PNC and was told the following: (copied exactly from the response I received back from them) 
 
"We apologize for any inconvenience. Each business day debits are typically posted from
highest to lowest. We made this process change thinking about our
customers' needs and from feedback directly from them."

I was never asked for my feedback??? I wrote back asking when this process change took effect and had asked why I was not notified and received the following response:

"I have processed a request to have the
Terms and Agreements mailed to you. Please allow 3 to 5 business days
for processing. Items posting from largest to smallest has always been
the general rule."

I have not received these terms as of yet and am still awaiting delivery of them. I did write back again and ask then if this is how they always done it why was I told different in the first response and this is what I received:

"Please know, this policy
has always been in place for PNC Bank. The terms and conditions of the
account were disclosed prior to the conversion. A copy of the Account
Agreement was ordered to be mailed to the address on record on 3/30.
Please allow 5-7 business days for delivery."

Just repitition of the first e-mail. This is very unfair and I should have been notified I feel on any changes that took place regarding my account. This to me is a scam for the bank to make more money and I DO NOT agree with it at all. Maybe if I was notified it would have been a different story. Don't get me wrong I should be responsible for a transaction that has overddrawn my account but only if it was posted correctly in the first place.



This report was posted on Ripoff Report on 4/7/2011 4:24:50 AM and is a permanent record located here: http://www.ripoffreport.com/banks/pnc-bank/pnc-bank-4615-e-state-st-roc-68c7b.htm. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
2Author 6Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

So what you are saying is...

AUTHOR: Robert - Irvine (U.S.A.)

SUBMITTED: Thursday, April 07, 2011

That you intentionally overdrafted your account because you "knew" they posted transactions in a certain order.

After all the ONLY way you can get overdraft fees is if you overdraft your account.  If you don't overdraft your account it doesn't matter how they post them.  There is no way they can turn a positive account to an overdrafted account by changing the posting order.

I would bet that you were notified.  Either when you originally opened the account, or were sent a change of terms at some point.  Yes those pages of "fine print" are actually important.

Now, here is your other issue.  As of last summer you had to "opt-in" to the banks overddraft protection.  During this time the banks sent out notifications and unless you "opted-in", any point of sale transaction(Debit Card/ATM) would be declined if you do not have enough money available in your account to cover it.  So either you did "opt-in" or you wrote checks/ACH transactions that are not covered under the new regulations.  If in fact you did "opt-in" your next stop should be to go to them and "opt-out".

By the way this is pretty much the standard at most other banks and credit unions as well.  So don't think changing banks is going to solve your problem.  The only sure way to avoid overdraft fees is to properly manage your account and not overdraft.

 


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#2 Consumer Comment

Yes but

AUTHOR: Wakow - wakeman (United States of America)

SUBMITTED: Thursday, April 07, 2011

Issue you fail to notice.  I have $20 in my account.  The day before I deposit $50 though a check or some other methode but I do it after the 2pm time line, so it is next day.

Next day I charge $30 for something I needed then I put gas in at the pump then go in the store and buy something.  Then go to work and buy something.  Then check my balance to see,

Charge $30 -$10 + $30 overdraft

Charge $5. + $30 overdraft

Charge $1. + $30 overdraft

Charge $3.5 + $30 overdraft

Deposit $50 = remaining balance -$89.5

Plus since your pay day isn't till next tuesday 5 days away thats a $5 charge a day.  
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#3 Consumer Comment

Yes but..Are you the OP?

AUTHOR: Robert - Irvine (U.S.A.)

SUBMITTED: Thursday, April 07, 2011

Because if you are you just proved the point.

It wouldn't matter in this case if it was high to low or order processed because the transaction that you did first(the highest) was the one that put you into Overdraft. 

Also, since these are debit card purchases, it shows that "opting-out" would have kept you from getting these OD fees.  Of course it would have blocked you from purchasing that $30 item, but you can't have it both ways.  You either allow them to block it or accept the fees as per their terms.

As for the deposit, you need to look at their funds availability schedule as well as the posting order for deposits.  Most banks will deposit credits before debits, but some post debits before credits.  However it is YOUR responsiblity to be aware of this.
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#4 Consumer Comment

Keep enough money in your account

AUTHOR: patti - (United States of America)

SUBMITTED: Thursday, April 07, 2011

The trick to avoiding overdraft fees is to keep enough money in your account to cover what you spend.  I you are aware that you made a deposit past the cutoff time, then you are also aware that it won't be available the next day.  If banks are such a ripoff, then I'm amazed that I have held checking accounts for 34 years (starting when I was 16) and have never had a single overdraft.
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#5 Update By Author

Not the point...

AUTHOR: VERY DISATISFIED PNC customer - Davis Junction (United States of America)

SUBMITTED: Friday, April 08, 2011

Ok, your just not getting it...I understand it is my responsibility to keep the money in the account. The whole point is only one transaction should have bounced but due to the banks lack of notification to it's customers which I know I never received  as I have every statement and all paperwork since the account was opened years ago. I do not get rid of this stuff. Instead the bank bounced numerous transactions.

 The point here is DO NOT change the terms of my account without contacting me!!! The point is not whether I screwed up, because I do know that I did, but I should not be charged fees for them coming up with a new way to process their items and not letting their customers know it. I know of many other people who also stated they were not contacted about the change either.
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#6 Consumer Comment

Not a rip off

AUTHOR: coast - (USA)

SUBMITTED: Friday, April 08, 2011

"the bank bounced numerous transactions"

Banks don't bounce anything. Account holders do the bouncing.
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#7 Consumer Comment

not true

AUTHOR: clancy - (United States of America)

SUBMITTED: Monday, January 02, 2012

so not true all the time....i too have had issues with pnc. for instance explain to me how you can maintain a balance of over 1000.00 in your account and schedlue a debit card payment, by the way which i do every month....and have them tell dte insufficent funds in the account to cover a lousey 70.00 bill...these guys are crooks plain and simple
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