On approximately 4-6 different occassions, at midnight before our government direct deposit, we will check out bank balance. We have a positive balance, the actual amount doesn't matter. In the morning, there will be between $70.00 to $900.00 in bounce fees. Shame on us for believing the bank that we had done something wrong, but until now we have always sucked it up. OK, here is the actual problem and what you can do about it.
This bank enters any deductions before deposits and in addition, they manipulate the order of the deductions to start with the largest amount first. If you have auto deductions for your mortgage or bills, they go first too...This maximizes their bounce fees. In many states, this is illegal. In North Carolina, this is not illegal. I had a similar problem with a bank in Nevada, and fortunately, my sister worked in the Trust Department and gave me the name of the people who regulate what banks can and can't do in various states. I contacted the people for NC and found out that there are no such laws in NC, and probably not in any of the states you are having problems from.
Believe it or not, many banks have their head quarters in certain states because the banking laws are more lax and accommodate the bank and not the people's best interrests. OK, what to do...
Start writing your local congressmen about changing the laws in your state. Get everyone you know, whether or not they have had a problem to write. It makes every difference in the world. Contact your local news channels. Contact the banking regulator in your state as well as the national level. Enough people get to complaining, the faster this sanctioned theft gets stopped.
I have been personally responsible for at least 6 people closing their bank accounts at BB and T in the last 4-5 days.
I used to work for Household credit services, my sister works for Nevada State Bank, and my brother in law works for Washington Mutual. They all have meetings where they brainstorm how to charge the customers more fees to make more money. There are monetary awards given to employees who come up with "good ideas" on how to milk more fees out of the customers.
The following sites are interresting reading.
Havelock, North Carolina