ED Magedson – Founder
BB&TApex, North Carolina USA
BB&T Branch Banking and Trust Overdraft scam Apex North Carolina
BB&T are con-artists and theives that are just waiting for you to make a mistake with your finances. They charge $36 per overdraft and have recently changed their overdraft rules (or so I have been told).
My wife deposited $750 (two checks from her employer of 7 years) into our checking account that was already overdrawn by $93 (our fault). I came home and checked the account to see if they went in and they were nowhere to be found. I also saw that we had 4 or 5 'pending' charges from an online purchase at the same time. She called the 1-800 number and asked about the checks and the operator couldn't find any info about the deposits that she made.
I looked this morning to see that the checks were put on a 10-day hold and all of the 'pending' charges had been processed - resulting in over $300 in overdrafts and fees. Ridiculous. My wife went into the branch when the opened and talked to a teller. They freed up the money, but would not return the overdrafts.
It has been my understanding since we started banking at BB&T that deposits were processed ahead of pending withdrawals regardless of the origin date. If that was true, the checks would have gone in and we would have been able to keep most of the money that was deposited. I called the branch and spoke with someone (not the manager) and they told me that their rules changed this year such that ALL charges and deposits are processed in the order that they were originally received. I could have deposited cash at the teller (which should have gone in immediately) and I would have still incurred fees for the pending charges since they were technically on the books before my cash deposit. The problem here is two-fold; the overdraft fees are exhorbitant and this idea of a 'pending' transaction is false.
I think that banks like BB&T prey on people like us who live paycheck to paycheck and barely tread water in between paydays. We have paid thousands of dollars in overdrafts this year (most our fault, I'm sure), and we'll be paying thousands more if BB&T continue to find ways to rip off decent people trying to get ahead.
This report was posted on Ripoff Report on 12/20/2013 07:58 AM and is a permanent record located here: http://www.ripoffreport.com/r/BBT/Apex-North-Carolina-27523/BBT-Branch-Banking-and-Trust-Overdraft-scam-Apex-North-Carolina-1108516. 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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