REGIONS BANK OVERDRAFT RIPOFF INTERNET

This is an article directly from the AMERICAN BANKER'S WEBSITE...

Many banks are still processing at least some checking account transactions from largest to smallest,  triggering more in overdraft fees for customers, a new survey found.The banks continuing this practice for at least one transaction type include Bank of America (BAC), Capital One Financial (COF), Fifth Third Bancorp (FITB), HSBC Holdings (HSBC), JPMorgan Chase (JPM), PNC Financial Services (PNC), RBS Citizens, Regions Financial (RF), SunTrust Banks (STI), and Wells Fargo (WFC), the Consumer Federation of America said Thursday.Dozens of banks have been sued over allegedly reordering debit card transactions to maximize overdraft fees.

So far more than a dozen banks have reached settlements in these cases.In May, the Consumer Federation, an association of almost 300 nonprofit consumer groups, surveyed the websites of the 14 largest banks and collected information on their overdraft fees and practices.The survey found that there was more variety in the order that transactions were processed based on the type of transaction. For example, some banks processed time-stamped transactions in the order received then other transactions largest to smallest.The median overdraft fee remained unchanged at $35 for the third year while initial fees ranged from $33 to $37.

Four banks Fifth Third, PNC, RBS Citizens and SunTrust charge tiered fees based on how many overdrafts are incurred in a 12-month period while U.S. Bancorp (USB) charges tiered fees that vary depending on the size of the overdraft. SunTrust said earlier this week it was doing away with its fee break for first-time overdrafts.The report found that almost two-thirds of banks surveyed add on second or per-day fees if consumers do not repay the overdrafts immediately. For example, SunTrust charges $36 on the seventh day an overdraft remains unpaid while Bank of America adds a second $35 fee if unpaid in five days.Only three large banks, Bank of America, Citigroup (NYSE:C) and HSBC, do not allow customers to incur overdraft fees while using their debit cards to make purchases. Citigroup and HSBC also do not permit fees to be triggered at an ATM.

HERE'S ANOTHER..

Overdraft revenue at banks and credit unions is rebounding a bit after a sharp decline that began in 2008, newly released data shows.After falling to $31.1 billion in the third quarter of last year, annualized overdraft revenue rose 2%, to $31.8 billion, in the same period this year, according to data from Moebs Services.In the last six months, we have seen overdraft activity pick up, says Michael Moebs, chief executive officer of Moebs Services.Annualized revenue from overdrafts peaked at $37.6 billion in the third quarter of 2008, and then fell by 1%, 9%, and 8% in the succeeding years.The earlier fall in overdraft revenue came as some banks under fire for reordering transactions in order to maximize such revenue cut their overdraft fees.

JPMorgan Chase (JPM), Wells Fargo (WFC), U.S. Bancorp (USB) and SunTrust (STI) were among the depositories that reduced charges.But debit card usage has continued to grow, which may help explain the recent uptick in overdraft revenue.Data from Moebs Services shows that on an annualized basis there were 52.6 billion U.S. debit card transactions in the third quarter of 2012 an 11% increase from the same period a year earlier.That increase in card usage is helping to partially offset the swipe fee revenue lost as a result of price caps instituted on October 1, 2011.In the third quarter of 2011, just before the price caps went into effect for banks with more than $10 billion in assets, debit swipe fee revenue across the industry was $19.9 billion on an annualized basis.That figure fell to $18.5 billion in the third quarter of 2012. Thats a 7% decrease, which is less than might have been expected, given that swipe fees for each transaction were cut nearly in half.

Lets see...its not the account holder's fault...the bank is performing fraud...its Obama...its Bush...its a computer program...its the Tri-Lateral Commission...its O. J. Simpson...its the FDIC, IRS, DEA, FCC, NASA, NATO, SEATO, UAE, Congress, the Senate!  Its never, never, never ever the account holder's fault!  Its a great big conspiracy by the big banks who took in billions and billions of taxpayer dollars to get the "little" guy!  In every case...EVERY CASE of these people whining about OD fees, the cause is 100% they are NOT keeping written records and keeping a running balance, then checking that balance BEFORE they use the card to be positive they have the money to cover the use of the card.  If the bank would actually make a mistake, they couldn't even detect it because they haven't the foggiest of clues as to what is in the account!  No matter what anybody says, these people are in total denial.  Anybody with HALF A BRAIN knows if you use a bank account then know how much money you have in that account BEFORE you use it!  Even a little child will count the money in their pocket before going into the candy store!  Until and unless the OP decides to keep records and a running balance he/she is doomed to being a continual OD fee payer!  As always, before it even comes up, I don't work for them!  (If I did, I'd push for a tripling of OD fees to boost profits because its as easy as taking candy from a baby.  They never learn!)

You are not talking about low balances, you can have low balances all day long and as long as you never go negative at any point you will never incur an NSF fee.  And was just going off of what you said...In case you forgot what you wrote let's review....

#1 If you don't sufficient have funds to cover a debit at the exact time of the debit
- Again NOTHING in that statement talks about low funds..it is about insufficient funds(I.E. NEGATIVE BALANCE).  If you don't attempt to spend the money if it is not available at that moment..you won't have an issue.  

#2 If that doesn't work they reorder your debits so that the largest comes out first (usually pretty effective)
- If you don't go NEGATIVE it doesn't matter how they post the transactions..

#3 They will add up all your debits for the day...if the total is more than your balance at the end of the day, even by a penny,
- Even a penny is a NEGATIVE Balance.  Again..if you don't spend more than you have available you won't ever go negative.

I will say a couple other things.  I notice you are doing a lot of transfers from another checking account.  First..if you can't manage 1 account, why are you even trying to manage 2.  Perhaps you should combine them until you get a handle on account management.  At the very least, why don't you sent up Overdraft Protection(and no this is different than the standard OD Protection you currently have).  The next level actually ties a secondary source to this account, in this case it would be your other Checking Account.  Then on days you go negative instead of charging you $36 per incident.  They will charge you a single fee for the day(generally in the $10-$20 range) and transfer the money automatically from the other source.

If for some reason you don't want to do that, then at the very least you should "opt-out" of the standard protection.  In this case if you don't have enough currently available in your account when you attempt to use your Debit card at a point of sale or ATM it will be declined.  Now, this doesn't cover checks or ACH transactions so if you "opt-out" you still must keep a register.  But in your case it looks like it would have stopped most(if not all) of these fees with only the little embarrassment of your card being declined.

Look at the statement. Show me where there's a single instance of insufficient funds!!! Did you even look at it. Low balance yes, zero balance NO!

so much knowledge, it boggle any 1's mind

If you don't think it is a problem spending money you don't have when you are actually spending it, then try this little experiment. 

Go into your local Clothing Store and pick out a shirt.  Go to the Cashier and let them know you are going to take the shirt without paying for it, but you will give them the money as soon as you leave the store.  Then proceed toward the exit.  After you get out of jail I hope you come back here and let us know how that went.

If you don't see the relationship between what you are complaining about and what would be considered shoplifting..then there is probably nothing anyone can say to help you.

If by chance you do see the similarity then there is a real easy way to fix this situation.  Keep a register and write down every single transaction you make.  Then NEVER attempt to spend money that you do not currently have available in your account at that time..yes even if you are only short by $0.01.