• Report: #414811

Complaint Review: US Bank US Bankcorp

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  • Submitted: Thu, January 22, 2009
  • Updated: Mon, April 27, 2009

  • Reported By:Beverly Hills California
US Bank US Bankcorp
usbank.com Minneapolis Nationwide USA, Minnesota U.S.A.
  • Phone:
  • Web:
  • Category: Banks

US Bank US Bankcorp Do not take US Bank abuse, You can fight Overdraft Fee abuse Minneapolis Nationwide Minnesota

*Consumer Comment: Rob with USB

*Consumer Comment: Oh yeah?

*Consumer Suggestion: With the money you got charged in overdraft fees...

*UPDATE Employee: Response to your Update, SIR.

*Author of original report: Reply to Rob

*UPDATE Employee: Stop spreading inacurate information.

*Consumer Comment: Love to know what the offical response from the govt is....

*Consumer Suggestion: Never had an issue.

*Consumer Suggestion: Never had an issue.

*Consumer Suggestion: Never had an issue.

*Consumer Suggestion: Never had an issue.

*Consumer Comment: In Your Case - I Agree

*Consumer Comment: Questions...

*Consumer Comment: Something is missing here.

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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.

Johndoe
Beverly Hills, California
U.S.A.

This report was posted on Ripoff Report on 01/22/2009 10:00 AM and is a permanent record located here: http://www.ripoffreport.com/r/US-Bank-US-Bankcorp/Minneapolis-Nationwide-USA-Minnesota/US-Bank-US-Bankcorp-Do-not-take-US-Bank-abuse-You-can-fight-Overdraft-Fee-abuse-Minneapol-414811. 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 14Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Rob with USB

AUTHOR: Chris - (U.S.A.)

Yes, as with Credit Unions and other banks, people are compensated for making a profit (or as you said 'bonused').

There you have it: Motive and opportunity.

You are informed of updates to your account 'areeement' via statements and can request one 24 hours a day or view it online at USBank.com

It should not be up to the customer to constantly check for policy changes. That's the bank's job, is it not?

What is an investogations, are you sounding out these words? For being the owner of a bank you seem fairly ignorant to how a bank works.

Like I am the law, you resort to insults rather than actually making a counter-point. This seems to be commonplace with the US Bank apologists on here. If he's wrong about the history of investigations by the C of C, then say so and back up your claim. Resorting to insults as an attempt to discredit someone is both ignorant and reeks of the desperation to defend the unethical practices of your bank. I'm sick and tired of people being personally attacked just because they have a problem with the almighty US Bank.

This statement is idiotic, I don't even know what you mean by 'duclications' which does not appear to be a word. Overdraft fees max out at $450 per day and I'm betting that 'no one at US Bank could explain or itemize these fees' really means 'I don't understand these fees' or 'this is unfair'.

It's not idiotic at all. You are again resorting to insults out of sheer desperation. If he says he got three different statements with three different amounts, that must be a lie in your opinion? What you bet happened means absolutely nothing. This has in fact happened to me as well, several times. I brought my statements to multiple banks and none of the managers could explain where the overdraft charges came from. If the bank did something unethical, that's the way it is. It doesn't mean it has to be a lie. I have had genuinely unethical things happen to me (in the past; I got out of US Bank very quickly) that you would no doubt claim are lies since they put your bank in a bad light. The only response I seem to be getting from the apologists regarding my claims on this site is that I'm a liar. How is that a legitimate counter-argument? Let me ask you this; does US Bank pay you to ridicule people that complain or is this just for fun? If they pay you they're even less ethical than I thought.
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#2 Consumer Comment

Oh yeah?

AUTHOR: Chris - (U.S.A.)

Being able to anonymously insult people on the internet doesn't mean you're educated either.
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#3 Consumer Suggestion

With the money you got charged in overdraft fees...

AUTHOR: I Am The Law - (U.S.A.)

Wow, John....... I'm sorry you got charged all of those fees. Maybe you could have used that money to buy a spelling/grammar checker for the old PC there. Yikes. Just because you have a house in Beverly Hills doesn't mean that you're responsible or educated. (i.e. The Beverly Hillbillies)
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#4 UPDATE Employee

Response to your Update, SIR.

AUTHOR: Rob With Usb - (U.S.A.)

"Thanks you, Rob but I am a man and not a woman. John is a man's name. I am not a 'her'."

"Thanks" you for this new information.
----
"Also, thank you for confirming that 'fee's' are part of a branches total profit performance and branch managers are bonused or compensated on the total profit of their branch, which includes those fees."

Yes, as with Credit Unions and other banks, people are compensated for making a profit (or as you said "bonused").
----
"I was a 6 years customer in good standing with US Bank with no prior overdraft problems. Therefore, my account service agreement is 6 years old. I never signed an areeement to participate in any 'overdraft loan program' as is currently being used by several banking compamies and is being investigated by several state Attorney Generals for violating state 'usury laws'."

You are informed of updates to your account "areeement" via statements and can request one 24 hours a day or view it online at USBank.com

Usury Law apply to loans, and overdrafts are not loans by the bank and that's why they are considered due immediately.
----
"US Bank has a long regulator history of investogations bu the Controller of the Currency. This is public information."

What is an investogations, are you sounding out these words? For being the owner of a bank you seem fairly ignorant to how a bank works.
----
"Regardless, the point is mute. As stated previously, I made my deposit to cover my debits -- a State of California issued check. A government check is required by law to be posted and available overnight. That's the law.

I followed this same procedure on previous Fridays and was never assessed an overdraft. Identical situation each Friday."

Government checks are available the day following the business day of the deposit. I'm betting that you had checks clear Friday and you got overdraft fees because you wrote out the check before your deposit was made available to you.
----
"I am not poor per my second home address in Beverly Hills. And that is not a boast."

Did I call you poor? It seems irrelevant to anything were discussing, being poor or rich does not change your personal ability to manage an account. I'm also glad that your irrelevant and random statement about your status is "not a boast".
----
"I received 3 different notices from US Bank claiming a negative balance with 3 different fees and amounts, inlcuding duclications and fees that US Bank could not explain what they were. These notices claimed $310 overdrawn/fees, $740 overdrawn/fees, and $550 overdrawn/fees. No one at US Bank could explain or itemize these fees."

This statement is idiotic, I don't even know what you mean by "duclications" which does not appear to be a word. Overdraft fees max out at $450 per day and I'm betting that "no one at US Bank could explain or itemize these fees" really means "I don't understand these fees" or "this is unfair".
----
Yes, US Bank is profitable. It also is profitable in this current economic climate because it 'derives slightly over 50% of it's profits from fee's assessed to customer accounts'. Please see your bank's SEC filings.

If you want to through around SEC Filings at least use real examples, for example look at our 10-Q filed on 11/10/2008, or any of our Annual/Quarterly releases and you can see that consumer accounts don't even make up half of the companies profits, you will also see that fees don't even make up most of the banks profits on deposit accounts on the 10-Q.
----
"Community banks all across the country are profitable. Less than 99% have required or participated in any Federal Reserve or Treasury Department TARP programs."

The way you stated it you should have said "Less then 1% have required or participated...." the way you said it means that almost all CUs have participated.

Participating in TARP is not a realistically bad plan, it should allow the government to earn a good return on the loans and also has a great rate for the banks. Just because the public dislikes TARP does not mean its bad for the business itself.
----
"I 'force closed' my accounts. The Controller of the Currency investigated and all fees were removed. US Bank was unable to explain to the Controller's investigator what all the fees were."

Of course they did.
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"Rob, replying is your right and welcome. But let's talk 'facts' and 'issues'. The whining does not promote your case. Thanks"

You already "thanks" me, I did talk facts (I even provided links to information), the closest I came to "whining" was telling you to stop lambasting another bank unlike you who apparently starts of the reply by complaining that I was saying "Her".

Get over it.
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#5 Author of original report

Reply to Rob

AUTHOR: Johndoe - (U.S.A.)

Thanks you, Rob but I am a man and not a woman. John is a man's name. I am not a "her".

Also, thank you for confirming that "fee's" are part of a branches total profit performance and branch managers are bonused or compensated on the total profit of their branch, which includes those fees.

I was a 6 years customer in good standing with US Bank with no prior overdraft problems. Therefore, my account service agreement is 6 years old. I never signed an areeement to participate in any "overdraft loan program" as is currently being used by several banking compamies and is being investigated by several state Attorney Generals for violating state "usury laws".

US Bank has a long regulator history of investogations bu the Controller of the Currency. This is public information.

Regardless, the point is mute. As stated previously, I made my deposit to cover my debits -- a State of California issued check. A government check is required by law to be posted and available overnight. That's the law.

I followed this same procedure on previous Fridays and was never assessed an overdraft. Identical situation each Friday.

I am not poor per my second home address in Beverly Hills. And that is not a boast.

I received 3 different notices from US Bank claiming a negative balance with 3 different fees and amounts, inlcuding duclications and fees that US Bank could not explain what they were. These notices claimed $310 overdrawn/fees, $740 overdrawn/fees, and $550 overdrawn/fees. No one at US Bank could explain or itemize these fees.

Yes, US Bank is profitable. It also is profitable in this current economic climate because it "derives slightly over 50% of it's profits from fee's assessed to customer accounts". Please see your bank's SEC filings.

Community banks all across the country are profitable. Less than 99% have required or participated in any Federal Reserve or Treasury Department TARP programs.

I 'force closed" my accounts. The Controller of the Currency investigated and all fees were removed. US Bank was unable to explain to the Controller's investigator what all the fees were.

Rob, replying is your right and welcome. But let's talk "facts" and "issues". The whining does not promote your case. Thanks
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#6 UPDATE Employee

Stop spreading inacurate information.

AUTHOR: Rob With Usb - (U.S.A.)

First off, stop spreading false information and lies. As the owner of another bank as well you should not be allowed to speak about other banks because all it appears to do is make your bank look "nice" especially when your talking about deceptive practices.

Branch Managers wages or whatever are not based on "charging fees", what it is based on is the branches overall performance of accounts opened at that branch. Are the loans profitable, is there money in checking, savings, CDs, investments, etc. Fee's are added to the branch's profits and expenses, but the managers are told to "do whats best for the branch" and you can bet your butt that if your a long standing good customer we reverse fees, what other reason would we do it for? Its a Bank, its a company with shareholders. Sorry to say you either have been with us a short time, or have problems like this all the time.

Our deposit account agreement has not changed since 2007 and before that it was 2005, every two years for an update to the agreement is not bad and the rules are not constantly changing.

As an employee in Customer Service/24 Hour Banking and Financial Sales we DO call the branch when the customer asks as too, and your free to do so as well. Some company have you check with onsite managers we check with your branch manager, whats the difference? Oh wait, you can talk to the person who made the choice at U.S. Bank in person, how silly of me.

"Include your cut-up ATM and credit card. " This does nothing, we don't want that and we will close your check card if your negative, its not an issue for the bank. That's just ludicrous and just puts you at risk for fraud.

We do not operate outside of our own policy, federal and state guidelines, or law. We will continue to give you the same information because it is accurate and we are not afraid. Send complaints and do what you will, we are consistently growing, we are still profitable, we are the most stable bank in our Pier Group (which includes Wells Fargo, Bank of America, and J.P Morgan Chase, as well as others).

We were also just rated #1 in Customer Satisfaction, we were consistently number two behind another bank that was bought by one of our piers and now we have been moved to number one. We are still profitable in this recession and we plan a right future. (Listen to CEO Richard K Davis Talk about U.S. Bancorp to other finical leaders in the United States at http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=117565&eventID=2081666 )

Oh and others, stop listening to some "bank owner" from the mid west talk about one of the largest banks in the United States, she may be fearsome of her own bank problems and is committing (possible) libel for her own gains, just take a look of the failed banks online at http://www.fdic.gov/bank/individual/failed/banklist.html and see what I mean.

Bank Safe, Bank Smart, Bank with US (Bank).

-Rob
Five Star Service Employee.
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#7 Consumer Comment

Love to know what the offical response from the govt is....

AUTHOR: J G Shrugged - (U.S.A.)

Online account printouts aren't going to get you anywhere. Almost every T&C I've read will tell you that the online account isn't 100% accurate....it's a very useful tool when used properly.

My guess is that you are using the acct as either a personal or small business, not the full analysis commercial account. If you pay for it, you can get things like same day availability of funds, "same time" debit and credit posting (i.e. your deposits will post at the same time as the outgoing funds, so same day deposits can be used to clear out overdrafts without actually overdrafting...)

But you have to be ready to pay for those services. If you want a free account, you have to follow their rules in order not to get hit with fees.
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#8 Consumer Suggestion

Never had an issue.

AUTHOR: I Am The Law - (U.S.A.)

It really puzzles me how there are over 300 reports on ROR about how "evil" US Bank is, but I've never had any issues with them at all and never paid them a dime except for when I ordered blank checks. Oh wait, I forgot, I'm not irresponsible so I don't overdraft my account. And... seriously.. you're part owner of a bank and you're going to take the "conspiracy theory" road, too?
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#9 Consumer Suggestion

Never had an issue.

AUTHOR: I Am The Law - (U.S.A.)

It really puzzles me how there are over 300 reports on ROR about how "evil" US Bank is, but I've never had any issues with them at all and never paid them a dime except for when I ordered blank checks. Oh wait, I forgot, I'm not irresponsible so I don't overdraft my account. And... seriously.. you're part owner of a bank and you're going to take the "conspiracy theory" road, too?
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#10 Consumer Suggestion

Never had an issue.

AUTHOR: I Am The Law - (U.S.A.)

It really puzzles me how there are over 300 reports on ROR about how "evil" US Bank is, but I've never had any issues with them at all and never paid them a dime except for when I ordered blank checks. Oh wait, I forgot, I'm not irresponsible so I don't overdraft my account. And... seriously.. you're part owner of a bank and you're going to take the "conspiracy theory" road, too?
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#11 Consumer Suggestion

Never had an issue.

AUTHOR: I Am The Law - (U.S.A.)

It really puzzles me how there are over 300 reports on ROR about how "evil" US Bank is, but I've never had any issues with them at all and never paid them a dime except for when I ordered blank checks. Oh wait, I forgot, I'm not irresponsible so I don't overdraft my account. And... seriously.. you're part owner of a bank and you're going to take the "conspiracy theory" road, too?
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#12 Consumer Comment

In Your Case - I Agree

AUTHOR: Jim - (U.S.A.)

...in your statement the bank is always right and the customer is always wrong. It is correct in virtually all cases.

The truth is that overdraws are the fault of the account holder in more than 90% of the cases, and yours is probably no exception. Although you provide no details, I suspect if you did, you'd be pointed out for the mismanagement of your funds. In truth, all of it is pretty simple to understand - it is hardly complex and it only requires the math skills of a grade school child. If you spend money you don't have, you will overdraw and get charged fees.

By the time you're done with all of the idiocy with the government, it would have cost you more in time spent avoiding the fee, than it would to have simply paid the fee. But it's your dime and if you feel spending more money to avoid bank fees is what you want to do - then have at it. Only beware of the real cost to you....... think reporting agencies...
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#13 Consumer Comment

Questions...

AUTHOR: Edgeman - (U.S.A.)

How was your account overdrafted?

If US Bank steals from its customers, why haven't they stolen money from me? I've been with them for almost two years and they haven't stolen any money from me.
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#14 Consumer Comment

Something is missing here.

AUTHOR: Northwest - (U.S.A.)

You state you were never overdrafted through any fault of your own. I don't get it: whose fault is the overdraft? Normally the customer is the one who puts money in and takes it out. Is someone taking money out of your account without permission? I just don't understand.
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