• Report: #1096991

Complaint Review: Arvest Bank

  • Submitted: Tue, November 05, 2013
  • Updated: Tue, November 05, 2013

  • Reported By: Dan — oklahoma city Oklahoma
Arvest Bank
oklahoma city, Oklahoma USA

Arvest Bank Manipulation of debits and credits so they benefit with overdraft fees oklahoma city Oklahoma

*Consumer Comment: The buffer in your check register was for your benefit....

*Consumer Comment: You must have a phd.

*Author of original report: 6+4>10

*Author of original report: Perhaps its you who are clueless :-)

*Consumer Comment: You Don't Have The Slightest Clue!

*Consumer Comment: You brought this on yourself

*Consumer Comment: If it is a crime according to you

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 I have noticed on several occasions that what I am told by the bank regarding what my balance and what the proof department does after hours is in conflict. and I have called the OKC branch bank and told them, and they say it takes a while for checks to clear. This has happened multiple times and I have had to pay many over draft fees. So I thought I would do some investigation, So For the past 9 days I have been monitoring my ARVEST checking account from the web, taking screen shots. Because I was very close to going over the balance. I called the OKC branch and asked what my current balance on the 30th of October and I was told it was .63 cents.

I get paid every two weeks, The next morning I received my paycheck through direct deposit. I got paid, and all was good. Tonight, November 4th, 2013 I was checking my balance, and they rearranged all my debits , going back several days, actually over a week, to cause overdrafts, about 8 in a row. I don't know who to go see to report this crime. They are obviously manipulating the debits and credits so that they can cause an overdraft. I can see that Others on this board are reporting ARVEST as well. I am going to see a bank officer tomorrow morning to report this.


This report was posted on Ripoff Report on 11/05/2013 01:01 AM and is a permanent record located here: http://www.ripoffreport.com/r/Arvest-Bank-/oklahoma-city-Oklahoma-73101/Arvest-Bank-Manipulation-of-debits-and-credits-so-they-benefit-with-overdraft-fees-oklah-1096991. 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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#1 Consumer Comment

The buffer in your check register was for your benefit....

AUTHOR: FloridaNative - ()

because it is clear you were not accurate with either your register or your math otherwise you would not have overdrafted the account. It is that simple. Clearly you don't understand the concept so naturally you are blaming the bank. By the way, I agree with the others: if you had a register you wouldn't be taking screen shots of your account to show the balance. I don't care how many degrees you say you have, no one with half a brain spends their account down to sixty-thee cents!

 

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#2 Consumer Comment

You must have a phd.

AUTHOR: Robert - ()

 PHD = Piled High and Deep.

Especially if you want us to believe that you actually maintain a Check Register.  Or if you on the very off chance you do that it is anywhere near accurate.  If it was you would have mentioned it in your original report and with all of your screen shots and CALLING the bank.  Where if they didn't match you would be screaming how that the On-Line banking doesn't match what your "register" shows.   But of course not a peep because said register does NOT exist.

Oh FYI regardless of how a bank posts it is impossible to "change" the order to cause you to overdraft if you didn't overdraft.

By the way what did the "Bank Officer" say when you reported it?

I'll even go one step futher..how about posting scans of these screen shots you say you have, and a copy of your check register showing how they don't match.  Of course I guess we will never know what was the actual activity when you CALLED the bank...but of course in your mind that doesn't matter now does it.

 

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#3 Author of original report

6+4>10

AUTHOR: Dan - ()

 Dearest Jim, Florida Native, and Robert perhaps its you three that are clueless; :-) . I have listed a link to a document, that was posted on the web a few years ago that proves a fundamental point that you three have failed to grasp. You three should read it. Read it very slowly or have someone explain it to you and really try to understand it, if you can grasp it fully then i will be looking for your apologies. the link is: http://www.tdbankoverdraftsettlement.com/Documents/Settlement%20Agreement.pdf . btw, in answer to the silly questions you three asked, yes I do keep a check register and its accurate, no I don't believe in keeping a checking account buffer, thats silly, I don't have to worry because I understand how to operate a calculator. And yes I do have screen shots of my account. Sheesh. If you three are an example of the general public, then I am attempting to make a point against unarmed opponents. .If for some reason you three have difficulty copying and pasting the link, then open up google and type in dwyer vs. tdbank. . And yes Jim, 4+6=10 BUT 6+4 > 10, can you tell me or the public how that can be? Its very possible in the banking industry. You will be able to understand after you read the document link i posted above. After you three read and understand I will accept your apologies. Having worked in the industry and specifically the bank "proof department" and having a earned a graduate degree in the field, I can tell you three that I am not here to educate you, but I do want to post something that alerts the public or at least those in the public that can grasp the concept of pos manipulation. Besides the TD bank listed as an example above, do research on your own on Bank of America, Wells Fargo, and you will find 2 other National Banks with a smilar disposition regarding POS manipulation. Also, besides the settlement agreement you will find the plaintiff's draft showing the math on how exactly overdraft fees can be accumulated in the favor of the bank. So now you three have some homework to do thats worthwile and may improve your stations in life. If you think this is enlightening take a look at what happened to Bank of America. Good Luck :-)

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#4 Author of original report

Perhaps its you who are clueless :-)

AUTHOR: Dan - ()

 Dearest Jim, Florida Native, and Robert perhaps its you three that are clueless; :-) . I have listed a link to a document, that was posted on the web a few years ago that proves a fundamental point that you three have failed to grasp. You three should read it. Read it very slowly or have someone explain it to you and really try to understand it, if you can grasp it fully then i will be looking for your apologies. the link is: http://www.tdbankoverdraftsettlement.com/Documents/Settlement%20Agreement.pdf . btw, in answer to the silly questions you three asked, yes I do keep a check register and its accurate, no I don't believe in keeping a checking account buffer, thats silly, I don't have to worry because I understand how to operate a calculator. And yes I do have screen shots of my account. Sheesh. If you three are an example of the general public, then I am attempting to make a point against unarmed opponents. .If for some reason you three have difficulty copying and pasting the link, then open up google and type in dwyer vs. tdbank. . And yes Jim, 4+6=10 BUT 6+4 > 10, can you tell me or the public how that can be? Its very possible in the banking industry. You will be able to understand after you read the document link i posted above. After you three read and understand I will accept your apologies. Having worked in the industry and specifically the bank "proof department" and having a earned a graduate degree in the field, I can tell you three that I am not here to educate you, but I do want to post something that alerts the public or at least those in the public that can grasp the concept of pos manipulation. Besides the TD bank listed as an example above, do research on your own on Bank of America, Wells Fargo, and you will find 2 other National Banks with a smilar disposition regarding POS manipulation. Also, besides the settlement agreement you will find the plaintiff's draft showing the math on how exactly overdraft fees can be accumulated in the favor of the bank. So now you three have some homework to do thats worthwile and may improve your stations in life. If you think this is enlightening take a look at what happened to Bank of America. Good Luck :-)

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#5 Consumer Comment

You Don't Have The Slightest Clue!

AUTHOR: Jim - ()

As others have said...one manages their own checking account by keeping a written check/debit register, doing the subtraction to maintain a running balance and then using that balance to guage if you can debit the account.  This brainless idea you have is the 6+4=10 but 4+6 equals something else!

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#6 Consumer Comment

You brought this on yourself

AUTHOR: FloridaNative - ()

Every bank and credit union has it in their terms and conditions that they can change the order of the transactions presented. Look at the terms and conditions you agreed to when you opened the account. If you have enough funds in your account it doesn't matter what order the debits are presented. You made a huge error by spending more than what you had in your account.

Taking the risk of running your balance down to sixty three cents is childish. The odds that you would make a math error in your check register or your reconciling of your accounts is high. Not just you, but anyone can make a math error. To run so close in your accounts is inviting trouble. Rather than take it out on the bank, straighen out your balance and put in a cushion beyond which you don't spend so you never have to pay a fee again. It's the adult thing to do and it only takes a few minutes.

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#7 Consumer Comment

If it is a crime according to you

AUTHOR: Robert - ()

If you think this is a crime why don't you report it to the police?

Oh but before you do realize that the only "crime" is the one you are doing to yourself.   You see throughout this report you have shown your failure to take responsibility over your account.  You are not only relying on on-line banking, but contacting the bank and asking them what your balance is.  On-Line banking is a way to verify that what is being posted to your account are valid transactionns, it is also a way to verify when deposits are posted.  But On-Line banking was never meant to be the sole, or even primary, method of managing your account.  The reason is because it can not be guaranteed to be accurate.  The bank only knows what they have received.  They have zero idea what you have spent until the merchant submits the debit, and depending on the circumstances(often out of the control of the bank) this could take 1-3 days..or longer.

Now, what is a way to manage your account.  To keep a written register.  That is every time you make a purchase you write down the transaction from your balance.  Yes, this means everything.  Debit Card purchases, Checks, ACH Transactions, ANY withdraw.  Now, if you want to verify a deposit, this is a time you can use on-line banking.  You can verify that your deposit POSTED and your funds are AVAILABLE.   Then one other very important part..NEVER even attempt to spend more than you have currently available.   That is don't think you can "float" funds for a couple of days by writing a check because with how checks can be deposited, it may be deposited as soon as the same day making it no different than a debit card transaction.

If you do this you can just about guarantee that you will not overdraft.  Not only that but you will find that you are going to actually not only save these fees, but save time.  It takes just a few seconds to write down a transaction.  Just how much time were you spending taking screen shots, calling the bank, writing this report, and now going to them to complain. 

While it actually doesn't matter in the big picture.  I did notice how you stated you had all of these screen shots, EXCEPT for the one day when your balance was down to $0.63.  On that day you CALLED the bank...Ummm, you do see something very interesting about your actions in this don't you?

And one other thing, when you go to complain to a bank officer, don't be shocked if they tell you the exact same thing.

 

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