• Report: #1114000

Complaint Review: Arizona Federal Credit Union

  • Submitted: Wed, January 08, 2014
  • Updated: Wed, January 08, 2014

  • Reported By: Donna K — Phoenix Arizona
Arizona Federal Credit Union
2650 W. Ross Dr., Phoenix, AZ 85027 Phoenix, Arizona USA

Arizona Federal Credit Union Wrongful Overdraft Charges Phoenix Arizona

*Consumer Comment: The only one causing your issues is..

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 I was running tight in my checking account, as I'm waiting on payments to come through. On 1/7/14, I had written 1 check for $270.00 and prior to that I had 1 outstanding check for $20.00, which equals a total of $290.00. On January 7, 2014, two deposits were made into my account - 1 for $168.00 and 1 for $20.00 - both cash deposits, but the $20.00 was made into the ATM. I had $107.13 in my account already. So, after the deposits, I had a balance of $295.13. At 10:00 a.m. on January 8, 2014, I checked my account on-line and it stated I had an available balance of $295.13 - with no pending transactions. I checked my on-line account at 1:30 p.m. and both checks totalling $290.00 went through leaving me a balance of $5.13, and then after that posting on my statement, there was a charge from Arizona Federal Credit Union for a $35.00 overdraft fee, leaving me with a balance of -$29.87. This is the 3rd or 4th time they did this to me. I called customer service, and after being on hold for over 30 minutes while she "reviewed my account", the rep told me that the $20.00 cash deposited the day before was pending at the time of the checks clearing. I told her no, because I had checked my statement that morning and I had an available balance of $295 before those checks came through, and it clearly shows on my statement (which I have printed out) that both deposits were posted before the checks went through. They refuse to reverse the charges. I have another statement from weeks ago that they did the same thing. How can they get away with this and just charge me when they feel like it? I refuse to put any money in that account until they give me my money back... It's ridiculous that I have to fight with them, and they have to "review my account" to decide if they are going to reverse their error? Aren't there laws preventing them from doing this?


This report was posted on Ripoff Report on 01/08/2014 04:42 PM and is a permanent record located here: http://www.ripoffreport.com/r/Arizona-Federal-Credit-Union/Phoenix-Arizona-85027/Arizona-Federal-Credit-Union-Wrongful-Overdraft-Charges-Phoenix-Arizona-1114000. 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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#1 Consumer Comment

The only one causing your issues is..

AUTHOR: Robert - ()

 The only one causing your issues is YOU and YOU alone.

I had $107.13 in my account already.

- Eureka! We found the problem.  You had 2 checks already written for a total of $290 with only $107.13 in the account.  So you spent money you actually didn't have and attempted to "float" funds.  Well as you have seen in this case and apparently several others that is a recipe for trouble.  

Here is something that may be a shock to you but a bank is not a charity.  Your Checking Account is not a line of credit.  The fact that you are "running a bit tight" on your account does not matter...sorry but it doesn't.  You have a choice, to not spend money you actually don't have and avoid these OD fees.  To spend money you don't have and probably get hit with OD fees.  It is 100% your choice, and you are 100% responsible for any concequences of YOUR actions, after all you are an adult..right?

 I checked my account on-line and it stated I had an available balance of $295.13 - with no pending transactions. I checked my on-line account at 1:30 p.m. and both checks totalling $290.00 went through leaving me a balance of $5.13, and then after that posting on my statement, there was a charge from Arizona Federal Credit Union for a $35.00 overdraft fee, leaving me with a balance of -$29.87.

- Okay...there is so much wrong with what you THINK is happening it is not even funny so I will just hit the highlights.  First of all by your own admission you had already spent money that wasn't in your account.  Next, on-line banking was never meant to be a sole or even primary method of account management.  You MUST keep a written register and what you seem to forget is another important part...NEVER spend money you do not have currently available.

Unless checks are presented in a branch, they get posted overnight.  So the check(s) were posted to your account overnight between the 7th and 8th.  So yes it is possible that your ATM deposit was still pending when the checks were posted.  As to why it didn't show up in your on-line statement.  Well most likely because they didn't fully update the site until the afternoon and then fees are updated later.  Nothing wrong with this because YOU should have known if you did keep a register that you would be subject to an overdraft fee...just consider yourself lucky that they posted the other deposit and only got hit with one OD fee..for now.

 I refuse to put any money in that account until they give me my money back...

- Then if you leave your balance negative for a period of time they will assess more fees(which yes they are allowed to do).  If you still fail to bring your account positive they will close it.  They will turn you over to ChexSystems, which will make it impossible for you to open a bank account at a regular bank for many years to come.  They will also turn you over to a collection agency which will affect your credit.  If all else fails you could possibly end up getting sued.  Oh and if you say..yea I will show them in court.  Yea and guess what.  Just like the very first thing I pointed out, the judge will wonder why you spent $290 with only $107 in your account...case closed..you loose.

It's ridiculous that I have to fight with them

- No what is ridiculous is that you think that they are in the wrong.

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