Fifth Third Bank or 53.com 53 bank May cause me to loose my house because of massive overdraft fees.They put the highest check possible through before 6 others to draw a negative 400. plus in my account, that's the begining... Modern day bank thievery. There is no justification for a 33.00 charge on a 1.00 overdraft. banks are stealing money from hard working Americans. Find out what you can do about it here. Detroit, Michigan

"How to avoid OD/NSF fees".
"I don't work for any bank-I'm self-employed.  IF you follow these suggestions I can assure you that you will NEVER cause another OD/NSF fee."

First off..this person reporting did not ask yours or anyone elses advice on how to avoid OD/NSF fees. When you are condescending to those (including me when I lodged my report) who come here to lodge their rip off complaint..it would be nice if you either A) rebut the issue the poster is complaining about...or B)offer your advice in a manor which does no demean, ridicule, insult or ASSume and insinuate the poster is irresponsible and can't handle their finances. Unless you have some kind of special powers to know all these posters situations..you should keep your insinuations and personal attacks to yourself. Most of us came on here and acknowledged that we have overdrafted..no need to smoke screen and put us on the defense over that. We are lodging our complaint that the bank has manipualted and re-sequenced transactions in a way to intenionally cause additional fees attatched to transactions that had the funds at the TIME of the transaction..and but for these manipulations..the additional overdrafts would not have occured. And to state all banks do this..and have been for decades..and to insinuate all credit unions do this..is a bold face lie, or at the very least misinformation. Show me documentation..I have been banking for years and only within the last few years have noticed this practice by SOME banks. And my credit union does not manipulate transactions or charge the kind of fees and dollar amount my bank does. Yes...we agree and see your point that we overdrafted (reason not important as it is all based on assumptions), but none of us did so expecting the bank to add all these additional fees for transactions that had the funds during time of transaction..hence we are rightfully complaining here as we feel we were ripped off. If you can't understand this and are NOT actually a bank employee..perhaps you should refrain from commenting and rubbuting..at least in such a rude way.

""U.S. banks will collect a record $38.5 billion in overdraft fees this year, with nearly all the revenue paid by just 10% of customers, according to a research report released Monday."

-" Notice that number 10%.  That means that 90% of the people actually get how to manage their account and don't overdraft.  So you know if 90% of the people get it, perhaps you need to look and see that you by chance are the one who is wrong".

What we should notice is the way you are looking at this. You see the point being the other 90% is assumed to be perfect..and insinuating the other 10% can't manage thier account. How do you know that all 10% have overdrafted due to mismanagment?? And if so..you still think it is right that the bank has re-sequnced transactions (legal or not) for the intent of amassing as many fees as they can, as quickly as they can including charging OD fees to transactions that had the funds available at time of transaction? I would say it is amazing how much PROFIT they have fleeced out of 10% of their customers by using this practice.

""Moebs Services collected data from 2,000 banks and credit unions,"

- "Well there goes the "Credit Unions are better argument".

No..the argument still holds. All that statement is saying is where the data was collected. It does NOT say that ALL banks or ANY credit unions for that matter practice the fine art of manipulating transactions. You are weakening Robert..clutching at straws..I have seen you smoke screen, twist facts and language way more effectively then this.

"Most people paying these fees have a credit score below 590 or so"

- "Yes, this is why just like Credit Cards people should be "Credit Worthy" before the bank issues them a Debit Card.  This way they must prove that they can actually manage their account(s)."

Notice you use the word "should"??? Should works both ways my friend..like the bank "should" cease targeting the young and poor who tend to have lower credit ratings..and tend to overdraft...and tend to trust online statements as accurate..but then why "would" the banks if they can profit billions doing otherwise?

""Moebs said. "Beyond that, they're a whole gamut of people: rich and poor, men and women."

- "Well there goes the "they are going after the poor argument".

Or..you can look at it this way...Although the banks preditory practices primarily and intentionally target the young and poor, the rich as well are invited to join in on the fees.

""I just contacted the bank about 400.00 in overdraft fees in my account when I had the money in my account to cover 6 of the 7 transactions.....of other transactions were all under 5 dollars the biggest check proceeds all others."

- "That's right you had enough money to cover 6 of 7, not 7 of 7.  All banks post transactions highest to lowest, they have for several decades.  As much as people(who overdraft) don't want to think this, they will be doing it for decades more.  If you spent 6 transactions and knew you wouldn't cover the 7th, then you intentionally overdrafted.  Just be glad it wasn't a check because if it was a paper check the merchant could come after your for check fraud if the bank returned it instead of paying it.  If you didn't know you didn't have enough to cover, why not?  If you keep a register you would know what your available balance is.  If you refuse to keep a register then cut up the debit card and go back to using cash.  You may still overdraft but at least it would only be for the single withdraw rather than the several purchases. "

This was covered earlier when I called "shenanigins" that "all banks" have posted transactions highest to lowest for "several decades"..but your first line agrees..he had "enough money to cover 6 of the 7 transactions"..therefore... should have only been charged ONE overdraft fee. How can you predict that keeping a register would have prevented this? If the consumer was unaware for any reasons that ONE overdraft would have caused overdraft fees for 7 transactions..6 of which had the funds available..this whole conversation would be moot. Your point being it is all the fault of this customers lack of financial managment, without taking into account that the issue at hand is the additional fees...not about asking financial advice.

As far as "check fraud"..I think you are over reaching a bit there...if the funds are not available to cover a check..it is called an "NSF" and a fee is charged, that would be about the extent of it in a case like this as you know darn well.

How can the bank be stealing from you when you ADMIT that you didn't have enough funds to cover all of the transactions?  What difference does the order make if there is enough money to cover them all?  If anyone here is the thief it is you, trying to get the bank to pay for what you don't have covered, then you crab about it when it comes back to bite you.  Sheesh.

As far as banks making billions every year, it seems it is from the kind of banking people like you attempt to do.  You simply cannot hope it "gets covered" in todays world.  Get a piece of paper and pencil and KNOW FOR SURE what you have going on. 

The report you quoted says it all and figure it needs to go first. 

"U.S. banks will collect a record $38.5 billion in overdraft fees this year, with nearly all the revenue paid by just 10% of customers, according to a research report released Monday."

- Notice that number 10%.  That means that 90% of the people actually get how to manage their account and don't overdraft.  So you know if 90% of the people get it, perhaps you need to look and see that you by chance are the one who is wrong.

"Moebs Services collected data from 2,000 banks and credit unions,"

- Well there goes the "Credit Unions are better argument".

"Most people paying these fees have a credit score below 590 or so"

- Yes, this is why just like Credit Cards people should be "Credit Worthy" before the bank issues them a Debit Card.  This way they must prove that they can actually manage their account(s).

"Moebs said. "Beyond that, they're a whole gamut of people: rich and poor, men and women."

- Well there goes the "they are going after the poor argument".

-----------------------------------

Anyways back to your situation.

"I just contacted the bank about 400.00 in overdraft fees in my account when I had the money in my account to cover 6 of the 7 transactions.....of other transactions were all under 5 dollars the biggest check proceeds all others."

- That's right you had enough money to cover 6 of 7, not 7 of 7.  All banks post transactions highest to lowest, they have for several decades.  As much as people(who overdraft) don't want to think this, they will be doing it for decades more.  If you spent 6 transactions and knew you wouldn't cover the 7th, then you intentionally overdrafted.  Just be glad it wasn't a check because if it was a paper check the merchant could come after your for check fraud if the bank returned it instead of paying it.  If you didn't know you didn't have enough to cover, why not?  If you keep a register you would know what your available balance is.  If you refuse to keep a register then cut up the debit card and go back to using cash.  You may still overdraft but at least it would only be for the single withdraw rather than the several purchases. 

Also, perhaps instead of spending all of your time writing blogs trying to show how evil you think the bank is.  Use that time to actually learn how banks process transactions and pick up some sound account management techniques.  Then share those with people who like you don't think it is your responsibility to manage your own money.

I don't work for any bank-I'm self-employed.  IF you follow these suggestions I can assure you that you will NEVER cause another OD/NSF fee.

Ways to avoid these NSF/OD fees:

Using an account register and reconciling that register with a monthly account statement from the bank will prevent any account holder from causing any NSF/OD fees.

The majority (if not all) of the reports I've read about NSF/OD fees have common behaviors of the account holders:

-using ATM cards for everyday purchases.
-using more than ONE ATM card attached to the account (husband and wife)
-using ATM cards for online purchases.
-using ATM cards for 'auto-bill pay' (autodebits)
**relying upon telephone or online account balances to determine what money is available for that shopping trip to Walmart.
**NOT using an account register.

**NOT verifying deposits have cleared.

1. Use an account register and reconcile the account register with a monthly written statement generated by the bank.  If the bank is not mailing statements, contact customer service to have monthly statements MAILED to you.

1a. Be aware of ATM fees, such as the 'non-bank ATM fee' that most banks charge when you use an ATM that is not owned by your bank to make a withdrawal and post that fee in your account register immediately.

1b. Also be aware of any monthly 'account service fee' charged by your bank and post that to your register on the appropriate date.

2.  Do NOT GIVE bank account information (or ATM card info) to any merchant, service provider, utility, online service to pay for services and goods.  Use a REAL credit card for this purpose (either secured cc or unsecured cc.)  Do not setup any automatic deposit to an account that is attached to said cc-NO auto payments to CC company-mail a check each month.  If the entity demanding payment makes a mistake, you're going to have a host of problems and risk OD/NSF fees.

3.  Do NOT use an ATM card for everyday expenses-USE CASH.  Establish a monthly budget and withdrawal a weekly 'allowance' for every day expenses such as 'milk and bread' from the corner store, Burger King, etc.  This will reduce the amount of transactions on the bank account which in turn makes RECONCILING the account and detecting ERRORS easier to accomplish.  Again, if the entity demanding payment makes a mistake, you're going to risk NSF/OD fees.

4. Do not shop with the ATM card-use a real credit card.  A real credit card offers protections that you don't have with an ATM card.  If the merchant/service makes a mistake, you can dispute it with the CC company WITHOUT getting any OD/NSF. Not true if you use an ATM card-if the merchant makes a mistake; your money is gone until you can convince your bank to give it back, as well as OD/NSF fees.

5. ONLY ONE ATM CARD to one account.  Do NOT have 2 or more atm cards for one bank account. Having 'his and hers' ATM cards attached to the same account is the same as in the old days when some folks would have 2 checkbooks for writing checks.  It was an invitation to disaster then, and it is today.

6.  Verify that deposits to the account have actually cleared.  Deposits can take anywhere between 1 and 5 BUSINESS days to clear depending on the type and/or source of the deposit.  Deposits over $5000 can take even LONGER before they are posted to the account.

The Federal Reserve publishes a Consumer Compliance Handbook which gives detailed information about what banks can and cannot do with deposits, holds, and funds availability.  You can download this handbook at http://www.federalreserve.gov/boarddocs/supmanual/cch/200711/cch200711.pdf

Follow ALL of these suggestions and you will NEVER pay an OD/NSF fee again unless it is a LEGITIMATE bank error or caused by a merchant.  If it is caused by a bank error the bank will rectify the situation and credit any fees generated as well as contact payees and cover any fees the payees assess to you.  If the fee is caused by a merchant error, you will need to hold the merchant accountable for the fees, although in many cases the bank may reverse the fees as a courtesy if the merchant confirms that the merchant made an error.

This is a tried and true method to avoid these fees. It works EVERY TIME it's tried.