• Report: #1094073

Complaint Review: Old National Bank

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  • Submitted: Wed, October 23, 2013
  • Updated: Tue, May 13, 2014

  • Reported By: Greg — Indianapolis Indiana
Old National Bank
Indianapolis, Indiana USA

Old National Bank Debits before Credits Indianapolis Indiana

*Consumer Comment: Sounds normal.

*Consumer Comment: I have a great idea

*Consumer Comment: Try to avoid those overdrafts

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My spouse made a deposit on Saturday, October 21st 2013. The online banking clearly shows the account being credited the deposit on that day. The bank then turned around and debited her account on all transactions made both Saturday and Sunday resulting in over $140 in over draft fees first thing on Monday. They did not credit her deposit until Tuesday. This was not an unusual deposit. It was one that she makes every week.

The bank says that there is nothing that can be done. Even tho the online app said the money was available and credited to her account, the actual availabilty of her funds wasn't until Tuesday. This seems to be a common practice with this bank. I would advise anyone and everyone to stop banking at Old National Bank.


This report was posted on Ripoff Report on 10/23/2013 11:58 AM and is a permanent record located here: http://www.ripoffreport.com/r/Old-National-Bank/Indianapolis-Indiana-46236/Old-National-Bank-Debits-before-Credits-Indianapolis-Indiana-1094073. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 3Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Sounds normal.

AUTHOR: Crucible - ()

 I think you'll find that most all banks process funds exactly the same way.   Weekend deposits are not posted until the next batch cycle, which is done every weekday night.  Your spouse's deposit was not actually available until after the Monday night batch cycle.   Most banks also post debits before credits.  

 You could switch banks, but the exact same thing would happen at any other bank.

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#2 Consumer Comment

I have a great idea

AUTHOR: Stacey - ()

 Learn to keep a check register and balance your bank statement!! No more overdrafts! Take responsibility for your own money!

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#3 Consumer Comment

Try to avoid those overdrafts

AUTHOR: coast - ()

My spouse made a deposit on Saturday, October 21st 2013... They did not credit her deposit until Tuesday. October 21st was a Monday. Apparently the funds were made available on Tuesday, October 22nd. "The bank then turned around and debited her account on all transactions made both Saturday and Sunday"

The transactions were presented for payment on Saturday & Sunday, October 19th & 20th. The funds were not available until October 22nd. That resulted in an overdraft.

"I would advise anyone and everyone to stop banking at Old National Bank." I advise you don't write checks or authorize transactions against unavailable funds.

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