I wanted to use this forum to warn consumers about the practices of National City Bank. They are generating Millions upon Millions of Dollars by charging overdraft fees by allowing overdraft debits to minors and adults.
While I understand the practice of allowing an occasional overdraft as a service to account holders, they have taken this fee generating service to an extreme that must be stopped through Government intervention...LOL
This is my story, based on actual events.
I was working in Iraq from December of 2005 until May of this year (2007). I have a daughter who was 16 at the time and was living with her mom. Even though her mom recieved child support each month, it seemed like a reasonable idea to provide my daughter with an allowance. To accomplish this, while I was home on R&R in 2006 I opened a joint checking account with her to which I could transfer money from my seperate account over the internet.
Well, let's just say that she wasn't the most responsible with the money and had generated a number of overdrafts which I paid immediatley and counseled my daughter about. Things improved dramatically until I returned home in April, then my daughter decided to go wild, she began to make debit purchases on this card, moved out from her mom's house with friends and started using her debit card with the full knowledge that there was no money deposited.
I attempted to close this account and was informed that my daughter must sign the papers as well, but as a consolation they would not allow further debits. I paid the $300.00+ in overdrafts for less than 60.00 worth of purchases and was assured that no more debits would be allowed. The following week an additional $300.00 plus in overdraft fees on less than one hundred dollars worth of purchases was charged and allowed by National City. When I stopped at my local branch, where they told me the debits wouldn't be allowed, they gave me the run around and told me I had to go to the branch where I opened the account in order to have any of the charges reversed.
I refused to pay the charges and withdrew most of my money from all National City accounts, over time National City debited money from my other accounts causing them to overdraft as well. After cleaning out those accounts, without even a note to tell me, they closed one other checking and a savings account.
I just want to warn anyone that has a minor child on their accounts at National City. They will get their money from you and take advantage of the laws and banking regulations that the banking industry have written and had adopted into law in most states and with the Federal Government.