On March 30, 2005, I personally went into KeyBank National Association located at 183 East Main Street, Ashland, Oregon, to request a stop payment on a check I had just written in the amount of $19,644.23. It took two tellers for this fairly simple request to be accomplished, and I was told there would be a $25.00 stop payment fee charged against my KeyBank Privilege Checking Account. No longer needing that large of a sum in my Privilege Checking Account, I transferred $19,000 back into my Money Market Account.
About a week later I received a telephone call from KeyBank. They told me that I had insufficient funds in my checking account to cover the draft payment in the amount of $19,644.23. I immediately informed them that I had placed a stop payment on my check a week or so earlier and had transferred $19,000 back into my Money Market Account as it was no longer needed in my checking account. They thanked me for notifying them of the stop payment directive, and I believed the matter ended with that telephone conversation.
I just received a form from KeyBank National Association dated April 5, 2005, entitled Notice of Insufficient Funds and/or Overdraft and Charges to Your Account. Stated on this Notice was a line item "Total amount of items paid that overdrew your account" with the amount of $19,644.23 paid out of my Privilege Checking Account and further identifying the check number of my original check. If that wasn't bad enough, KeyBank National Association had the ultimate gall to charge a $30.00 overdraft fee to my Privilege Checking Account putting said account in arrears to the tune of -$13,673.14. Said Notice also states that a "Recurring Overdraft Service charge in the amount of $28.50 will be charged to your account once every five business days until your account balance becomes positive (including the payment of all outstanding fees and charges)."
I have the Stop Payment Confirmation form letter sent to me by KeyBank National Association. Said Stop Payment Confirmation states my account number, check number, to whom the check was made payable, the original amount of the check, and the Stop Payment Date Issued as 2005-03-29, the day I went into the bank, together with a Stop Expiration Date of 2005-09-30--five months from now.