USBANK - US Bank $489 in Overdraft Fees and $8. per day charge! They took the highest charges and applied them in that order. Internet

Here is what should be done...Keep a register...Yes it is that simple.  Even though you didn't mention it one way or the other I would be fairly sure that a lack of you managing your account is the cause of your overdraft fees.

If they told you it was mandatory when you opened the account, they didn't force you to open it.  If you didn't like those terms you could have gotten up and walked out the door.  In fact you have lost a common excuse a lot of people use, in that they "had no idea" this was on the account.  You admit you knew about it and STILL signed up for the account and put yourself into overdraft.

Now, you will have people coming here and telling you exactly what you want to hear.  They will tell you how the banks are "evil", and you did absolutely nothing wrong.  They will even tell you about all of the changes the banks are making, and probably stick in some things about lawsuits that have been filed.  Unfortunately since they are going to tell you what you want to hear, you are probably going to ignore everyone else who is trying to tell you that YOU need to be responsible for your account.   The other problem with that is that they won't tell you that even with the new policies it is not guaranteed that you won't overdraft.  They also won't tell you that the very few suits that went anywhere were settled and each member of the "class" got a whopping $78. 

So in the end it is your choice as to who you want to listen to, and which way will avoid these fees in the future.  The people who tell you that YOU need to be responsible for YOUR account.  Or the people that tell you what you want to hear, so that you feel that you don't need to change because a "knight in shining" armor will come to your rescue at some point in the future.

There is plenty which could be done...but only if...YOU choose to do it!

QUESTION:  Why do you have these overdraft fees to begin with?

ANSWER:  Because you used money you didn't have because you DID NOT KNOW what you did have!  Knowing how much have or don't have is ENTIRELY up to you, so DON'T BLAME THE BANK, like all the others do!

There is only ONE WAY to solve this, and that's for you to start keeping a written record of each and every transaction and doing the math after each withdrawl.  As you keep that running balance, you will see when you are coming to the end of your funds.

What you have been doing is using either an on-line record or a telephone automated system which IS NOT as accurate as what you can obtain using your own record.

Why not RESOLVE NOW to use these charges as a tuition for a very needed lesson.

 

I was once a US bank member until this same thing happened to me, overdraft fee's are a result of our own bad banking but there are huge differences between different banks fee's and how/when they are assesed. 

First of all I believe US bank has been sent to court several times regarding this isse and has changed their rules regarding overdraft fee's several years ago in the Utah area.   But if I remember right they would charge the standard overdraft fee ($35) and a $7-$8 fee every day after until negative ballance was paid.  The main reason this was a larg problem is because they would not allow you to close the account in the event of a negative ballance, so say if you were unemployed you might not be able to afford to pay off the ballance once you found a new income.  As you can imagine this was very damaging on peoples credit so eventually people stood up to them and forced them to change thier polocies.

I believe they still charge a daily fee but you have the ability to close the account and pay off the ballance at a later date.

A way to resolve this issue: Avoid US bank, they are the worse I've seen.  All banks are bad in my optinion, try going with a credit union.  My credit union (America First) actually goes the extra mile to make you happy, their overdraft fee is only $20 and their customer service is actually able to waive fee's.  One time I overfrafted my Key Bank account with a $2 fee for calling and checking my ballance more than the 4 times they allowed for free (BS I know) but all customer service could do is say they can't waive fee's and I would have to talk to the manager at the branch I opened with. 

 

Well, after taking a loan from my 401K to resolve the overdraft fees and daily penalities, I found a bank that explained the O.D. policies and gave me the option to be in or out! 

 To all those people that agree with the practices of these banks and hold a mistake on your checking account balance accountable to hundreds of dollars then, that is your option.  As for myself, I chose a bank that is owned its clients and I have a say when it comes time for their meetings.  That is the kind of business I agree with.

 

 

Try not spending more than you have available.

You make it sound like they are forcing you to open an account. Still, it sounds like you overdrew so unfortunately, you're stuck.

I get a kick out of all these self righteous jerks who have no problem with a bank treating customers badly. Yep. some may be perfect and never have an unexpected withdrawl from an account. Some of us live on the edge and have many transactions. This is not my main complaint though. It is the principle. I run a small business and if I treated my customers the way the US Bank treats it's customers, I would be out of business. It is just plain wrong to rig the system every
way you can to maximize your profit off of the backs of your customer. The US Bank is arrogant and crooked. They have done every trick in the book. Some I've experienced: Changing due dates on credit payments so as to catch
the customer with a late fee of $39.00. They don't run the checks through as they come in, but run the largest check first to drain the account and maximize profit again on the back on the customer. Once I was a few cents short on a payment and got hit with the late charge. The whole attitude is wrong. It is foolish to handle a snake that will bit you as soon as you make a wrong move and it is equally stupid to bank with an institution that is looking to get you when you make a false move. I am at a credit union now. I have no stress and the people at the bank are looking out for me, not their stock holders. Us Banks practice financial terrorism, in my opinion. One false move or unexpected withdrawl and you could set back hundreds, and that is very hard to recover from in a tight economy. Does you bank care about you? If not, you are the customer, get away from the crooked scum. There are humans in the banking industry, you have to find them.

if the customer spends money they do not have how is it possible that they are in the right?  This is when the customer overdrafts, if they don't pay it, it then  becomes theft.  If original poster had a savings account, kept a ledger, and knew how to budget they could saved hundreds of dollars.

Yes, the customer is always right.  At least that is the attitude of any smart businessman. The rules these banks go by are made by some rich fat guy sitting in huge office building. They are totally out of touch with the real world. The little guy is just scum. Making big money is all that matters. That is what they do. They figure out ways to get your hard earned money from your pocket into theirs. Some of these banks are so big they just don’t care. I watch these people treating their customers like dirt and just shake my head. The customers they run-off will never come back once they have been ripped-off enough. The bridge is burned. In a small community, it can ruin your business.
That is not my main point. Yes, I have had unexpected debits from my account. You know, one of those “free” trial things that comes back to bite you a month later, because hidden in the fine print was a membership you didn’t want.  
Again, the main point is this. Get away from the bank that is not looking out for you. The whole attitude that they will make “free” money off of you every time you make a false move is crazy. It is immoral, period!  Only a banker, or a pinhead can make excuses for people who charge excessive usury, front load mortgages, change due dates, manipulate transactions, lay awake nights figuring out how to get your money,etc.
As I mentioned before, there are banks out there that do what a customer should expect from those who they entrust their money with, and that is to watch out for you. Another point I will make is this. Where there is smoke, there is usually fire. There are pages of reports on the Us Bank. That is because they are trash and lower than the scum of the earth. Get away from them and never go back!

and the banks are doing all they can to manipulate overdraft fees in order to stave-off a complete collapse of the system, which happened in September of 2008.

You can 'Google' this- FRONTLINE: INSIDE THE MELTDOWN, and watch it on the web to see how the banking system 'melted down' (collapsed) in September of 2008.

You see, banks are no longer making the money they once did from lending money to consumers for cars, homes, and other things, because so many people are out of work and millions continue to go into foreclosure.

The big banks are now forced to do all they can to generate the lost profits and they are concentrating on making a lot of this money from overdraft fees and other fees.

You can 'Google' the following video and watch it on the web for more information-

FRONTLINE: THE CARD GAME

Cancel your account with US bank as soon as possible, and open an account at a credit union in your town. Any bank that is a publicly held bank (Wall Street) is out to financially injure as many innocent customers in the USA as possible, in my opinion.

Good luck to you!

P.S. It appears that the ones who control the BIG banks also control the U.S. government. Don't count on our politicians to help the American people. Keep watching how oil prices rise. The ones who control the BIG banks are also able to manipulate the price of oil. They were doing it in 2008.

Just 'Google' the following 60 Minutes segment and watch it on the web for proof-

DID SPECULATION FUEL OIL PRICE SWINGS

***In short, the United States of America has turned into a country that is controlled by bankers (Federal Reserve) who are now driving up the price of oil and other commodities in order to make profits because they lost so much in the mortgage/foreclosure mess. But they won't be able to succeed, because driving up the price of oil also drives up the price of food and just about everything else. It appears to me that a COMPLETE COLLAPSE of our system might happen soon.

WELCOME TO AMERICA- ONE MASSIVE LIE

If you're really bored sometime, check this out.

Do a search for someone's ROR handle; particulary someone that is complaining about OD fees. 

You'll notice most people end up closing their account at one bank because they're constantly overdrawn, and then a few months later, you'll see that same person complaining about how they've been "victimized" by another bank's OD fees. 

If this isn't proof that some people shouldn't have bank accounts, I don't know what is. 

is available at this site!

*Just type in 668678 and it appears as 'Consumer Comment #14' at Ripoff Report #668678.

Thank You

**********************************   SONG ALERT   *********************************
*Don't forget to type in 685999 at this site and go to 'Consumer Comment #61' at Ripoff Report #685999 to sing- "OIL SONG".

Overdrafters seem to take great pleasure in starting class action lawsuits against banks for fees THAT THEY AGREED TO. So, in retaliation for that, I think I'm going to start my own class action lawsuit against overdrafters.

What is the basis of this lawsuit? Easy. Because banks are constantly being subjected to frivolous lawsuits from overdrafters for fees they brought on themselves, the banks have lost some amount of profit. That being said, the bank is going to pass that loss onto the good customers somehow. This is most likely going to be in the form of less favorable conditions on loans and mortgages, higher interest rates on credit cards and other lines of credit, lower payouts on CD's, investments, and savings account, and fees imposed on previously free products. So, I'm sure it won't be horribly difficult for me to prove that overdrafters have financially impacted good customers, including myself.

Come on, good bank customers, let's line up to sue these losers back to the Stone Age! Granted, they probably don't have alot since they can't even maintain a bank balance, but let's go for it anyway and put some morons back in their place!