Ripoff Report Needs Your Help!
X  |  CLOSE
Report: #806131

Complaint Review: Susquehanna Bank - Ephrata Pennsylvania

  • Submitted:
  • Updated:
  • Reported By: Joe — Ephrata Pennsylvania United States of America
  • Author Not Confirmed What's this?
  • Why?
  • Susquehanna Bank 399 N Reading Rd Ephrata, Pennsylvania United States of America

Show customers why they should trust your business over your competitors...

Is this
Report about YOU
listed on other sites?
Those sites steal
Ripoff Report's
content.
We can get those
removed for you!
Find out more here.
How to fix
Ripoff Report
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Had a problem with a deposit into my Susquehanna Bank account which resulted in multiple overdraft and non-sufficient funds (NSF) fees. Susquehanna Bank charged between $40 to $80 per overdraft. The $80 fee was for a check that the company resubmitted a second time.

On top of that, on 10/1/2011 greedy Susquehanna Bank started charging DAILY overdraft fees (on top of their regular $40-80 overdraft fees) which adds up if you are unaware you had an overdraft until you get your statement and Susquehanna Bank didn't bother to call you. The branch manager at Susquehanna Bank refused to waive any of the fees despite me having been a loyal customer for years.

Yes. I realize everyone should keep track of their balances. However, that is no excuse for Susquehanna Bank taking hard earned money from their poorest customers (who keep the lowest balances and are thus more likely to overdraft) in order to boost their profits and benefit the rich banksters at Susquehanna Bank.

I refused to give in to Susquehanna Bank's greed and pay their fees and now Susquehanna Bank referred my account to a collection agency and reported it with the credit bureaus.

I am warning my family, friends, and everyone I know about this bank. If you want to keep your hard earned money, AVOID SUSQUEHANNA BANK!

This report was posted on Ripoff Report on 12/07/2011 10:46 AM and is a permanent record located here: https://www.ripoffreport.com/reports/susquehanna-bank/ephrata-pennsylvania-17522/susquehanna-bank-excessive-overdraft-fees-ephrata-pennsylvania-806131. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Updates & Rebuttals

REBUTTALS & REPLIES:
1Author
6Consumer
0Employee/Owner

#7 Consumer Comment

they are fair

AUTHOR: coast - (USA)

POSTED: Tuesday, December 13, 2011

"Instead of charging the poor much more than everyone else, I think it would be more fair if banks charged everyone equally."

Banks penalize everyone equally. It appears as though you expect others to share in paying your overdraft penalties. Those who choose to violate traffic laws pay more in fines. Do you think it would be fair for you to pay a share of another person's traffic fine? Of course not.

Respond to this report!
What's this?

#6 Consumer Comment

Citing Bank Overdraft Fees.....

AUTHOR: Jim S - (United States of America)

POSTED: Tuesday, December 13, 2011

is an irrelevant topic to bring up not because of its size but because virtually every dollar is avoidable by the consumer.  In other words, the consumer pretty much handed money over to the bank for something they didn't have to do.  The banking industry could actually earn $0 in overdrafts if everyone cared for their cash the way they should.  They don't....so....

Bank loyalty is also not worth anything.  Banks don't care whether you've been a customer for a day, a year, or 10 years.  Why do you care??  Banks are in business to store your money and keep track of it according to their records.  However, you have records to keep as well, and the bank's records of your account are not a substitute for your own.  How do their activities earn loyalty for you??

It's interesting you cite the poor as most susceptable to overdraft fees.  Consider this...the real poor don't have bank accounts.  The pseudo poor (my term) are people who clam poverty simply because they won't keep enough money in a bank account.  The pseudo poor mismanage their finances to the point that they have no money in their account by not understanding simple concepts like needs and wants.  Here's an interesting thought.  Try not having an account, and then going to a check cashing place to cash a paycheck.  At a minimum, you're going to be charged a fee of around 5%-10% to cash your pay check every time you need money.  Think about those fees.  Those are statistics that aren't even kept, yet the real poor incur those fees....and a lot of them each year.....  If you think it to be insignificant, consider they're an industry all by themselves.....

Think about how that would affect you???  Suddenly, a bank doesn't sound so bad.  I'd switch banks anyway, but don't repeat what you just did because that will earn you more overdraft fees.  Oh, and Striderq is right; unless you plan on opening an account at a credit union, you won't be able to open another account due to Chexsystems.  I mean you are dead to a lot of banks right now.

I would also negotiate with the collection agency, and see what they'll take from you to settle the debt; do that this minute!!  This debt is now hanging over your head and has been reported to the credit reporting agencies, so now your FICO score is in the toilet too....  Don't be stubborn about this; you're holding onto a faulty principle and it's costing you far more than you think.  Get rid of this debt because if you don't....the only loan you'll be able to get is a payday loan at 99% interest.  If you think what you went through is a rip off, a payday loan will keep you in the poor farm for an eternity.

Respond to this report!
What's this?

#5 General Comment

Another consideration...

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

POSTED: Tuesday, December 13, 2011

Depending on the amount that you've decided not to pay, the bank may also report you to Chex System or another similar organization. This would prevent you from opening an account at another bank until this debt is cleared. And if you already have an account, banks review annually or semi-annually so this could still cause the closure of your current account. If the bank sees you owe your past bank a large sum of money, they would tend to belief that you'll probably end up owing them money.As far as the fees, they may be on the high end of the scale, but you accepted them when you decided to open your account. Either during the opening or shortly after, the bank gave you a "Schedule of Fees & Services" which outlined the cost of things such as monthly service fees, money orders and overdraft fees. By opening the account or keeping it open after you received the notice, you agreed to pay the fees in the event of overdraft, check return, etc. It's amazing how often the fees are okay until the bank charges them in accordance with the Terms of Service.

Respond to this report!
What's this?

#4 Consumer Comment

Okay

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

POSTED: Tuesday, December 13, 2011

You get "half-credit" for accepting responsibility for your "deposit issue", but not wanting to take responsibility on what happened as a result of your "deposit issue".

The fact that you seem to be intentionally avoiding what this issue was.  Then to have 1 sentence saying it was your fault and the rest of your "clarification" quoting articles that were written 2 years ago defiantly says that there is more that you are not saying.  I would also bet that those additional details do not have you looking too good.

By the way just in case you haven't looked at a calendar lately or missed every news story about it.  It is 2011(almost 2012) and there have been several regulation changes, so why post articles from 2 years ago.

Respond to this report!
What's this?

#3 Author of original report

Clarification

AUTHOR: Joe - (United States of America)

POSTED: Tuesday, December 13, 2011

The deposit problem was my fault. I don't blame Susquehanna Bank for it.

I do NOT have any problem with Susquehanna Bank charging poor people bank fees, banks making a profit, or rich people getting richer. What I do have a problem with is banks taking advantage of their poorest customers and making the bulk of their profits off the backs of the working poor.

One study showed overdrafts costs banks less than $3 yet Susquehanna Bank charges $40 each plus $5 per day. There's nothing wrong with making a profit. However, for many banks, overdraft fee revenue is so high that it exceeds net income and 90% of their overdraft fees come from just 10% of their customers, often the poorest ones who keep the lowest balances. Instead of charging the poor much more than everyone else, I think it would be more fair if banks charged everyone equally.

"U.S. banks will collect a record $38.5 billion in overdraft fees this
year, with nearly all the revenue paid by just 10% of customers,
according to a research report released Monday."
http://money.cnn.com/2009/08/10/news/companies/bank_overdraft_fees_Moebs/

"These fees have become a significant source of income for the banking
industry, with total revenue from overdraft fees projected to exceed
$38.5 billion this year. For 44.5% of banks, overdraft fee revenue
actually exceeds their net income."
http://www.money-rates.com/blog/2009/09/whats-the-right-cure-for-high-bank-fee-rates.htm

Respond to this report!
What's this?

#2 Consumer Comment

You left a lot of detail out of your ROR, such as who caused the problem...

AUTHOR: Ken - (USA)

POSTED: Wednesday, December 07, 2011

but, then, I'll bet you know and it's you...right?



"However, that is no excuse for Susquehanna Bank taking hard earned money from their poorest customers (who keep the lowest balances and are thus more likely to overdraft) in order to boost their profits and benefit the rich banksters at Susquehanna Bank."

But, I guess it would be okay to revert to socialism and only take money from their richest customers to keep from charging you for your little screw ups, right?



Would you also feel better when they take these fees (that YOU caused) if the "banksters" were poor?

I will give you some credit, at least you didn't allege that the taxpayers bailed out the bankers and how they're stealing from the poor little customer.



" I refused to give in to Susquehanna Bank's greed and pay their fees and now Susquehanna Bank referred my account to a collection agency and reported it with the credit bureaus."

And what, exactly, did you expect to happen when you "refused to give in and pay their fees?"



Looks like YOU, as they say, pooped in your own nest.



I would bet you've changed or are changing banks.

Great, we'll look forward to your next ROR in a few months, concerning some "problems" with the new bank and its' rich owners.

Respond to this report!
What's this?

#1 Consumer Comment

Problem with a deposit?

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

POSTED: Wednesday, December 07, 2011

How come you didn't mention what this problem with the deposit was? 

You also never mentioned how much in Overdraft fees this cost you, how much in Extended Overdraft fees there were and how long it took you before you finally found out about the "problem".

These are probably very important details to your report.

Respond to this report!
What's this?
Featured Reports

Advertisers above have met our
strict standards for business conduct.

X
What do hackers,
questionable attorneys and
fake court orders have in common?
...Dishonest Reputation Management Investigates Reputation Repair
Free speech rights compromised

WATCH News
Segment Now