PNC Bank PNC Hidden Overdraft Policies Make PayDay Lenders look like the Good Guys Louisville Kentucky

All the disclosures regarding transaction re-arrangement, handling of deposits,
and OD fees are in your Deposit Account Agreement which you signed...

Of course, you should know this, since you worked for a big bank...

'As a result my son spent about $25.00 on three transactions and was charge fees of $102 for one day on a 'loan' of $25.00. This works out to about 148,000% APR interest.'

- When your son swiped that card with a negative balance, the bank assumes that since
he signed the account agreement, he accepts the fees associated with the courtesy
of allowing the bank to overdraw his account. He agreed to pay the idiot fees.

The bank cannot hold your hand, and manage your checkbook for you. That's your job.
If you can't do this, hire an accountant. If you can't afford one, then close your account
and conduct your business with cash and money orders.

The online tools are there to help you reconcile your checkbook (i.e. to check if a deposit cleared,) they are not intended to be used as the sole method of managing your account.

"...however, the policy was to post the largest to smallest check, thereby causing the greatest number of overdraft charges..."
- I would really be interested to know what bank you worked for. Because I can almost guarantee that they also posted transactions highest to lowest.

"...His primary reason for not using checks was to avoid overdrawing his account"
- Your son reminds me of that bumper sticker that said "How can I be overdrawn, I still have checks left". Have either of you heard of a register? The way debit cards are processed it is still possible to overdraft. Unlike a check where a bank can decline a check, they can't decline an authorized debit.

A good example of how you can still OD is if you use your Debit Card at a Gas Station. They will authorize $1, if your son has $10 in his account it will be approved. However, if your son pumps $20 in gas when the gas station submits the real charge it will OD the account.

"As a result my son spent about $25.00 on three transactions and was charge fees of $102 for one day on a "loan" of $25.00. This works out to about 148,000% APR interest. "
- And just think if he can save even one $25 overdraft fee by spending 30 seconds to write down his transactions making sure he does not OD, that is like earning $3000 an hour.

"..In the old days when a transaction caused a "potential overdraft" your banker would actually review the item and determine if paying or returning the item was appropriate..."
- So you are saying that the banker would approve the $25 check to the phone company and the $50 check to a store over the $1000 check to your mortgage company? What if they declined the $50 check, and the store then goes after you for the check and penalties(which in some states can be 3 times the amount of the check). On top of that you would be put into a Check Authorization system(such as Telecheck), making it virtually impossible to write a check at any other store that uses the same system. I bet you would be upset at the bank for not cashing the check and just charging you the $25.