I have been a Superior Bank/Charter One account holder for 25 years. The new policy of withdrawing ATM/Debit charges prior to the charge going through is not working properly.
According to the new policy, purchase amounts sometimes called authorizations by the Merchant are deducted from your Available Balance as soon the purchase is made.It does not work like that.
Sometimes they take it out of the available balance, sometimes they don't, sometimes they take more than the amount and put it back, and sometimes they take less than the amount charged.
I made several charges over a weekend those charges were not removed from my available balance until 4 days later.
According to my available balance I was rich so I made some more purchases. The day after I made those purchases along came several 4 day old charges that were conveniently deducted from available balance at once causing an overdraft. The timing is always so convenient it usually causes and overdraft.
New Policy! Right around the Holidays! I wonder if that was intentional!
The point is the new policy was to help me manage my account, it has done the opposite. I could look at my Available balance every day all day and I still would not know what was removed, what was not removed or how much of the actual balance was removed.
Up unto recently I have had nothing but positive words to say about Charter One. I have expressed my concerns to Charter One via the online message center and via phone with no response. When I contacted customer service I was given incorrect answers, placed on hold for excessive periods of time and disconnected from the service center. Being hung up on is not my idea of customer service.
With many of the competing banks offering the same or similar banking options, after 25 years, I could find no reason to remain a Charter One customer.