I am a partial owner of a small community bank in the midwest. I maintained a US Bank account in order to have access to my funds when living on the coast part time.
I have experienced many of these Overdraft Fees issues recently and I am not poor, I made my deposits, and I was not overdrafted through any fault of my own.
The recent pattern of US Bank charging excessive Overdraft Fees is the result of changes to their nationwide computer system designed to ALWAYS screw over the customer and make the bank and the branch manager where you have your accounts "prosper" (through profits and manager bonuses based on fees collected). The customer will ALWAYS be wrong. The bank will always be right.
The branch manager will almost never grant a fee reversal because the compensation system is designed to reward managers who effectively "steal" funds from their customer's accounts. It is almost impossible for the customer to prove the 'wrong", because US Bank's computer system is designed to make all transactions confusing, hidden, and performed under rules and procedures that are frequently changed, not disclosed, and purposely confusing. If you call customer service the new "line of explanation" is always, "I've called the branch and they declined to reverse your fees". There is no proof this call was actually performed or just a scripted excuse. The customer will never know. No other bank corporation in the USA has customer service agents calling branches for customer complaints of fees.
US Bank is (in my 30 years experience and opinion) a criminal enterprise that steals money from customer accounts. The systems in place are designed to effectively plunder customer monies. This is not happening to a small number of customers, but literally tens of thousands nationwide.
Sending a Certified Letter to your branch manager closing your account effective the date of receipt is legally binding on US Bank, even though the bank claims (falsely) that they can't close your account until it's paid in full (fee's included). Include your cut-up ATM and credit card.
You can effectively pursue complaints against US Bank by filing through the US Controller of the Currency which regulates the national banks. Keep in mind when filing a complaint- 1) you must write a concise, honest letter describing your issue. Do not allow your anger to progress into exageration. This only makes your complaint less believable. 2) include any documentation you have including printouts from your online account off the Internet. 3) Keep excellent notes of any conversatins you have with US Bank and copies of letters sent.
Address your complaints to: Customer Assistance Group 1301 McKinney Street Suite 3450 Houston, TX 77010 FAX: 713-336-4301
For a government agency, they are very effective if you adequately, honestly and concisely file your complaint. You can get your fees reversed with the help of the Controller's office. I have successfully done so myself on 3 different occasions before closing my own accounts.
It is also important that as many people as possible file complaints because over time the Controller's office will investigate based on a high number of complaints.
It is also effect to file complaints (for general complaint purposes) to your state's Attorney General, your Congress person in Washington, DC, and the Federal Trade Commission.
And just for the "smile-factor and some brief satisfaction" send copies of these complaints to your US Bank branch manager!
Good luck.............and it would be encouraging to see any results posted on this site in the future.
Beverly Hills, California