On May 18, 2010, I was charged $231 in overdraft fees for 7 transactions. This is completely unjust for a few reasons. Firstly, according to my balance online, I had $984. Secondly, they posted transactions before they posted a deposit made on May 17, 2010 which as we found out is their standard practice. Thirdly, they post the largest amount item first then trickle down to the smallest amount which to a rational person would reflect that they are trying to cause an item to be insufficient in funds so they can collect more fees. Their argument was that they do that so that customers can be ensured that their mortgage/car payments will be paid. What difference does it make when you are going to be hit with a service charge anyway? On May 17, 2010, we were showing a balance of $984 according to what was reflected online. We had the following items post that evening that incurred a charge of $33 each - $200 ATM withdrawal, $75 check, $29.50 debit, $15 debit, $4.95 debit, $2.20 debit, and another $2.20 debit. Afterwards, a deposit of $573 was posted. Does anyone besides me see that this appears crooked?!?
My husband and I printed out the statements and were told verbatim by a customer service rep that what we see on our screen does not reflect what they see on their screen?!? What?!? Should they not line up?!? This is my money we are talking about! Furthermore, my husband asked if he could cash the deposit before depositing into the account. It did not require verification - it was a refund from the state of North Carolina! But because of bank policy, they refused to do that. The check itself was actually for $773 but my husband took $200 out of it.
Irregardless, I have done bookkeeping for years and it does not take a bookkeeper or an accountant to see that a great injustice has been done to us. Their solution? If we opened up a savings account, they would credit back half the fees to our account! I had to agree because my son is a burn victim and I needed $50 to pay for his medicine.
I have never, I mean never, seen such banking practices. Posting transactions at midnight before deposits! Not reflecting the correct balances online. My advice to anyone who has an account watch out or take your money out and go somewhere else because if they did this to us, loyal customers of years, they will do it to you.