• Report: #148851

Complaint Review: US Bankcorp - US Bank

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  • Submitted: Thu, July 07, 2005
  • Updated: Sat, September 08, 2007

  • Reported By:Apple Valley Minnesota
US Bankcorp - US Bank
800 Nicollet Mall Minneapolis, Minnesota U.S.A.
  • Phone: 612-872-2657
  • Web:
  • Category: Banks

US Bankcorp - US Bank Ripoff Overdraft charges while account had positive balance Minneapolis Minnesota

*Consumer Suggestion: deposits after 3PM on Fridays

*Consumer Suggestion: deposits after 3PM on Fridays

*Consumer Suggestion: deposits after 3PM on Fridays

*Consumer Suggestion: deposits after 3PM on Fridays

*Author of original report: Office of the Comptroller of the Currency

*Author of original report: I balance every day...

*Consumer Comment: I doesn't matter what bank you use.

*Author of original report: Update after conversation with Christine - Senior VP in this area

*Author of original report: US Bank now sends SSN, Account number over unsecured e-mail!!!!

*Author of original report: US Bank now sends SSN, Account number over unsecured e-mail!!!!

*Author of original report: US Bank now sends SSN, Account number over unsecured e-mail!!!!

*Author of original report: US Bank now sends SSN, Account number over unsecured e-mail!!!!

*Author of original report: Moving to a New Bank

*Author of original report: E-mail from the desk of Christine Hobrough - Regional Market Manager

*Consumer Comment: Go to another bank

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It all started on 6/30 when I had 3 withdrawals on my account, one for a check for $300, another check for $25, and a check card withdrawal of $5.92. According to US Bank, they ALWAYS process their withdrawals from highest to lowest (they say so peoples mortgage payments and the such are guaranteed to go through.) Well, after all of this, my account did go negative for a day by $50 (miscalculation on my part). Though, I got 3 overdraft fee's - though if they would have been processed in reverse order, then I would have only rcvd one overdraft fee. Though, not a huge deal for me as I brought my account in the positive the next day by depositing a payroll check from an employer that uses US Bank for their payroll, hence, the monies were available right away. This is now 7/1.

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On 7/5, from another employer that also uses US Bank for their payroll checks. At the time of the deposit, nothing had cleared the bank. That evening, I had checked my account at an ATM to see how much money I had available as I forgot, and the ATM said my balance was $356 and some change, and Available was $146. I could logically assume that this was from check card purchases that were still in the authorization state, so I go shopping for things for my new place... thinking I have at least $100 in my account.

On 7/6 I check my account and my account shows that AFTER I made the deposit on 7/5, US Bank had charged me 6 Overdraft fee's, though everything that they say overdrafted was because of the overdraft fee's for the items they said overdrafted... hence meaning that if the overdraft fee's hadn't been applied, NOTHING would have overdrafted! PLUS, I made purchase the night before and that morning before checking my account with the impression I had money in my account. Though, my check card was never denied, even though I was in a negative balance???

I then go to US Bank to inquire about wtf is going on... First off, find out that I can make purchase on my check card until I am a -$501.00 in my checking... though they never disclosed this, and they even told me that this is NOT common knowledge to their customers! This also makes me wonder to WHY then they would process highest dollar amounts first? They say to insure the highest dollars are paid first to avoid the customers the embarrasment of overdrafting... though why would you need that if you can go -$501?? My belief is to get the most out of their overdraft fee's.

Then, after talking more to US Bank about the overdraft fee's, and realizing that I rcvd the overdraft fee's for no reasons besides the fact that it was in anticipation of my account going negative.

Currently, I have STOPPED putting money into my account to cover ANYTHING until US Bank corrects this issue though I have the money to deposit (at this point I have talked with 7 different people within US Bank to correct this issue, and the latest person is in meetings all the time.)

I also have print-outs of their screens showing that everything was in a positive during the latest bought of overdrafts, and also have print-outs (and also saved in PDF format) of the internet screens showing everything was processed AFTER the deposit.

I have talked to 4 other people that I work with that have had almost the same exact issue with US Bank. One person it took a week to resolve, another 3 months, and the other I don't remember how long it took, and the last one he still hasn't resolved it and just decided to tell US Bank to f'off and left his account in a negative as this is the 2nd time they did this to him. (2 of these people also had deposits come up missing and helped to set off this ripple effect.)

Any suggestions?

Shawn
Apple Valley, Minnesota
U.S.A.

This report was posted on Ripoff Report on 07/07/2005 12:32 PM and is a permanent record located here: http://www.ripoffreport.com/r/US-Bankcorp-US-Bank/Minneapolis-Minnesota-55402/US-Bankcorp-US-Bank-Ripoff-Overdraft-charges-while-account-had-positive-balance-Minneapo-148851. 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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Updates & Rebuttals

#1 Consumer Suggestion

deposits after 3PM on Fridays

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

Most banks end their business day at 3:00 PM Fridays(unless a Holiday). So if you deposit a check on Friday around 3:45 PM it would state that the check went into the account on Monday 3:45PM and will not make a full posting until Tues around 9:45 am. As long as there are funds to cover the check. If not, it may take up to a week to clear. for the bank to get the funds from the check itself(even with its own system).

If you use the ATM, Use your own banks ATMs. And remember that the accounts posted may be a few days away even though the account says money was in the account. (Check dates on all receipts).


If you want to stop NSF fees, or overdrafts, then "direct deposit" may be for you.

If your empolyer has it, I would use it. Works wonders for me. and I have never have to wait a week to see if the check has cleared.

Watch out for bank Holidays. They would alter the bank business days and post a day later(as stated above). Then durring Regualr Banking hours.
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#2 Consumer Suggestion

deposits after 3PM on Fridays

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

Most banks end their business day at 3:00 PM Fridays(unless a Holiday). So if you deposit a check on Friday around 3:45 PM it would state that the check went into the account on Monday 3:45PM and will not make a full posting until Tues around 9:45 am. As long as there are funds to cover the check. If not, it may take up to a week to clear. for the bank to get the funds from the check itself(even with its own system).

If you use the ATM, Use your own banks ATMs. And remember that the accounts posted may be a few days away even though the account says money was in the account. (Check dates on all receipts).


If you want to stop NSF fees, or overdrafts, then "direct deposit" may be for you.

If your empolyer has it, I would use it. Works wonders for me. and I have never have to wait a week to see if the check has cleared.

Watch out for bank Holidays. They would alter the bank business days and post a day later(as stated above). Then durring Regualr Banking hours.
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#3 Consumer Suggestion

deposits after 3PM on Fridays

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

Most banks end their business day at 3:00 PM Fridays(unless a Holiday). So if you deposit a check on Friday around 3:45 PM it would state that the check went into the account on Monday 3:45PM and will not make a full posting until Tues around 9:45 am. As long as there are funds to cover the check. If not, it may take up to a week to clear. for the bank to get the funds from the check itself(even with its own system).

If you use the ATM, Use your own banks ATMs. And remember that the accounts posted may be a few days away even though the account says money was in the account. (Check dates on all receipts).


If you want to stop NSF fees, or overdrafts, then "direct deposit" may be for you.

If your empolyer has it, I would use it. Works wonders for me. and I have never have to wait a week to see if the check has cleared.

Watch out for bank Holidays. They would alter the bank business days and post a day later(as stated above). Then durring Regualr Banking hours.
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#4 Consumer Suggestion

deposits after 3PM on Fridays

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

Most banks end their business day at 3:00 PM Fridays(unless a Holiday). So if you deposit a check on Friday around 3:45 PM it would state that the check went into the account on Monday 3:45PM and will not make a full posting until Tues around 9:45 am. As long as there are funds to cover the check. If not, it may take up to a week to clear. for the bank to get the funds from the check itself(even with its own system).

If you use the ATM, Use your own banks ATMs. And remember that the accounts posted may be a few days away even though the account says money was in the account. (Check dates on all receipts).


If you want to stop NSF fees, or overdrafts, then "direct deposit" may be for you.

If your empolyer has it, I would use it. Works wonders for me. and I have never have to wait a week to see if the check has cleared.

Watch out for bank Holidays. They would alter the bank business days and post a day later(as stated above). Then durring Regualr Banking hours.
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#5 Author of original report

Office of the Comptroller of the Currency

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

So, I had called the FDIC, and they suggested that I try to get this resolved through the Office of the Comptroller of the Currency (www.occ.treas.gov - 800-613-6743).

Any suggestions???
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#6 Author of original report

I balance every day...

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

I balance my account on a daily basis. Every charge I make (as I don't normally write checks), the next day, at the beginning of the day, I go through every receipt/purchase I made the day before, figure out what my new balance is, check to see that there are no incorrect charges, etc, then I know at that moment I can spend up to XXXX amount of money that day (which I usually don't spend up to that amount.



The day that I wrote a check, I must have hit the wrong key, or something while adding, or subtracting something. Yes, I agree that on that one I should be charged an overdraft... I have NEVER said otherwise on that. What I do disagree with is that the overdraft fee's are what made me overdraft EVERYTHING else. When I made many of those purchases... I new my exact balance (or within a $1 as after everything is balanced I round it down $1 to $5...which ever is easiest to remember).



To balance your account, there is no set way in stone to say that this is how you must balance your account, this is how often you have to do it... and for a LONG time, this system has worked wonderfully for me (especially since up to 2 months ago, I never even had checks printed, hence, no check register from the bank.)



Was I aware at any moment that my account was negative when I made a purchase... NO. Did I know I was getting close to my $0 limit... yes. Was I told, "If you don't have the money in your account, you can't get an auth on your card"? YES!



I did do the things I was supposed to do, and I still bounced my account. Also, on the ATM statement, it does show your BALANCE, AVAILABLE BALANCE (meaning BALANCE minus AUTH or Pending transactions). So, I was in the right there.



I am a very well educated person... I am trained in computer programming, computer networking and management, car sales, health insurance processing and laws and regs, IRS codes pertaining to health insurance, Section 105 & 125 plan specifics, accounting, business management and operations, I can understand 6 languages (including English and American Sign-Language) and can communicate in many of them to varying degrees, motivational speaking, mortgage banking, culinary arts, interior decorating, cable internet networking architecture, and many others areas. I am not stupid, and please do not try to construe that I am.
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#7 Consumer Comment

I doesn't matter what bank you use.

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

From what I have read so far you will probably always overdraw your account.



My suggestion would be to get a copy of MS Money or Quicken to handle the adding and subtracting from your account register that you seem to be unable to do. If you cannot afford the software because you are overdrawn again, there are several sites that you can download a freeware program that will also manage a checking account register.



Do not assume anything from the banks ATM or online statements. Those can only tell you what has already been posted. You are the only one that can keep an accurate running balance of your account, it should not be the responsibility of the bank.



Also find the Deposit Account Contract you received when you opened your account. It will detail all the banks fees, check clearing policies, debit posting policies, etc. Can't find it? Go to the banks web site. You may have to search around for it but it will be there. Try looking under opening a new account. There is usually a link to it that the bank requires a new depositor to read before opening an account.



If you do close your current account and open a new one with another bank, keep your own account register. It is far more accurate and you won't have to assume anything. You will know exactly how much is in your account. And read the Deposit Account Contract you get when you open a new account. Yes it's long and boring but it has valuable information in it.
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#8 Author of original report

Update after conversation with Christine - Senior VP in this area

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

So, once again, another "pissing" match on who is right, who is wrong... though from everything I can see... I'm right... Christine says US Bank did everything right? She tries to explain how they process, though there are WAY to many if's, and's and but's with how they process.



The check card auth's hold the money they authorize for... yet, if you withdraw that money by other means... it's not held anymore... and everything that is authorized is then considered to have been in the negative, even if money is in the account when it posts. So, how is the auth holding the money?



In RE to the being able to be -$501 in my account, depending on how old your account is... the larger that dollar amount becomes... without your knowledge, or written consent. They say they do this as a convience to their customers. I don't know about you, but from everyone that used to be customers with US Bank left because of that reason, and anyone that banks with them currently has never heard of this - and don't like the idea!



Then, I decided to table the previous issues as we were getting no where in the matter, and talked about her exposing my private information for all to see on the internet via her e-mail correspondence. Her rebuttal to this was, "Our e-mails are secure." I responded very quickly saying anyone that does anything with the internet knows NOT to put that in an e-mail, and even though your company has safeguards for your internal network... that is gone once the e-mail is sent outside of your network.



I then asked her what US Bank is going to do for me in this matter as she has potentially exposed my private information that they guaranteed to protect for me. She then got really quiet, asked if I was tape recording the conversation. I just said... "Honestly, I am baffled at this, and I don't know what to say at this point." Obviously I was not tape recording the conversation, though I wish I could have... as it is not legal to do in the State of MN by my knowledge without the consent of the other party.



Side note: Early that day when I did find out about this, I did e-mail her asking what US Bank would do for me, or would I have to contact the media to get any attention in this matter. Unfortunatly, I forgot to check the Save box when I sent it :(.



ANY SUGGESTIONS??? (besides seek a good laywer)
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#9 Author of original report

US Bank now sends SSN, Account number over unsecured e-mail!!!!

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

Is nothing private or protected anymore??? In the last e-mail that I posted on here, I noticed AFTER posting that my SSN, Account number... my PRIVATE information that is only to be transmitted over secure means... was not... sending via e-mail with no encryption is the same as running a TV commercial on national TV to hackers, crackers, and the like!



Though, US Bank has potentially leaked my private information that I gave them that I was guaranteed would be safeguarded to the rest of the world. Can we say potential ID theft??



I have a feeling the press and government officials will have a field day with this!!!! Any other suggestions anyone???
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#10 Author of original report

US Bank now sends SSN, Account number over unsecured e-mail!!!!

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

Is nothing private or protected anymore??? In the last e-mail that I posted on here, I noticed AFTER posting that my SSN, Account number... my PRIVATE information that is only to be transmitted over secure means... was not... sending via e-mail with no encryption is the same as running a TV commercial on national TV to hackers, crackers, and the like!



Though, US Bank has potentially leaked my private information that I gave them that I was guaranteed would be safeguarded to the rest of the world. Can we say potential ID theft??



I have a feeling the press and government officials will have a field day with this!!!! Any other suggestions anyone???
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#11 Author of original report

US Bank now sends SSN, Account number over unsecured e-mail!!!!

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

Is nothing private or protected anymore??? In the last e-mail that I posted on here, I noticed AFTER posting that my SSN, Account number... my PRIVATE information that is only to be transmitted over secure means... was not... sending via e-mail with no encryption is the same as running a TV commercial on national TV to hackers, crackers, and the like!



Though, US Bank has potentially leaked my private information that I gave them that I was guaranteed would be safeguarded to the rest of the world. Can we say potential ID theft??



I have a feeling the press and government officials will have a field day with this!!!! Any other suggestions anyone???
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#12 Author of original report

US Bank now sends SSN, Account number over unsecured e-mail!!!!

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

Is nothing private or protected anymore??? In the last e-mail that I posted on here, I noticed AFTER posting that my SSN, Account number... my PRIVATE information that is only to be transmitted over secure means... was not... sending via e-mail with no encryption is the same as running a TV commercial on national TV to hackers, crackers, and the like!



Though, US Bank has potentially leaked my private information that I gave them that I was guaranteed would be safeguarded to the rest of the world. Can we say potential ID theft??



I have a feeling the press and government officials will have a field day with this!!!! Any other suggestions anyone???
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#13 Author of original report

Moving to a New Bank

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

Yes... I have already decided to move to another bank... and also, have contacted the local news stations and the papers concerning this issue. I have had many co-workers that use to work with US Bank for their financial stuff, and after it happened to them, they switched, and they were in the same situtation as I am in now.



How they do business is unethical, though maybe in the grey areas of the FDIC reg's from what I am reading in other posts.



I am highly disappointed with US Bank, as after completely reviewing EVERYTHING, and talking with several people, and reading on here how things work... How US Bank says they process things is not truely how they process as I got negative fee's on check card fee's that were authorized BEFORE my account went into a negative (with what they say they consider your balance) meaning, that the things authorized via my check card are deducted from my balance instantly, though how US Bank processed it is that the check cards deducted from my account total instantly, then when the authorization feel off, the money was still in the account, though, during the time the auth was there, the account had dipped to -$50, and they put the overdraft fee on EVERY check card purchase even though the money was already secured???



So, is it that I get overdrafts on check card purchases when the auth comes in and the money isn't there, or do I get overdraft fee's on check card purchase when the auth falls off and the company transfers the money, or is it BOTH like what happened on my account?



Also, the other issue I have is that the whole being to get an authorization to -$501.00... I was told (after thinking back) to when I have talked to the bank in the past them telling me that I could not get an auth if my account hit $0. PLUS, my roommate, who used to bank with US Bank, had a similiar issue, though when his account hit $0, he couldn't get an auth, meaning that US Bank includes this "Overdraft Protection" on some accounts, and not on all, and from what I am told by US Bank reps is that it does vary (the amount) from account to account on a case by case basis, meaning that it should be something that you have to apply for as it is either based on your credit standing, history with the bank, chexsystems, etc, though I never applied for it, was never offered it, and was not told about it till AFTER all this happened, and was then told US Bank does not tell it's customers by a US Bank Rep!
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#14 Author of original report

E-mail from the desk of Christine Hobrough - Regional Market Manager

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

Shawn, I am glad to talk with you and sorry I haven't been able to personally call you back yet. Both Sherrie Goetze and Charlie Hanley shared your concerns with me. I have also reviewed the history on your account and your relationship with us. I appreciate the time you have invested into resolving this issue.



I am currently involved in a conference call meeting and actually am scheduled in meetings and a branch grand opening until late this afternoon.



Looking at the history on your account, I appears the issue started with the large Teller Withdrawal on $1,452.50 on June 30th, followed by check 0114 for $300, then two check card transactions. Once deposits and other credits are posted, we would post teller withdrawals.



We then post checks, check card transactions and other debits by large dollar first. Our thinking is that we try to post major customer transactions first - hoping to not return someone's house payment or rent payment or car payment.



I believe the offer to refund the fees would account for your wishes to have the smaller dollar items posted before the larger items. Your account balance would have been negative on 6/30 regardless of the posting sequence.



I am sorry this does not meet your expectations. We have used this posting sequence for many years and I am comfortable with the branch refund offer.



I would be glad to discuss this further with you, however I would need to call you at the end of the day today. Would you be available after 4PM? If so, what number would you like me to call you at?



Thank you for your time and patience.

(Embedded image moved to file: pic18935.jpg)



----- Forwarded by Christine A Hobrough/MN/USB on 07/08/2005 08:29 AM -----

Charles R Hanley

To: Christine A Hobrough/MN/USB@USB

07/08/2005 08:23

cc:AM Subject: Fw: complaint



Here is an email from Shawn. I don't know if you have contacted him yet or not.



-----Forwarded by Charles R Hanley/MN/USB on 07/08/2005 08:11AM -----



To: Charles R Hanley/MN/USB@USB

From: Teresa E Shannon/OR/USB

Date: 07/07/2005 02:15PM

Subject: complaint



----- Forwarded by Teresa E Shannon/OR/USB on 07/07/2005 12:03 PM -----



(Embedd (Embedded image moved to file: (Embedded imageed pic20600.gif) moved to file:



image "schaon@charter.net pic05249.gif)

moved " <1800usbanks to To:file: 1800usbanks@usbank.cpic1745 07/06/2005 06:48 PM om

1.gif)Please respond to cc:schaon



Subject: Email Us

Customer's Information

Name: Shawn E BXXXXXX

SSN: XXXXXXXXX

Phone Number: 715-XXXXXXXX

Email Address: schaon@charter.net



Account Number: 1047XXXXXXXXX

Comment or Question

Please have Christine Hobrough, or her manager, contact me concerning my account at 715-XXXXXX . I am having an issue to were I was incorrectly charged overdraft fee's, and I feel that US Bank is treating me unfairly, as they incorrectly added Overdraft fee's to my account (which Carol at the Burnsville branch even admitted), which in turn made other things bounce, and she only offered to "eat" $136 of those fee's... though there were six of them... NOT 4!!!!



Overall, from what I can see, I should have ONLY been charged one Overdraft fee.



From what I see online is that my account was charged overdraft fee's while my account was still in a POSITIVE balance, and I will NOT be putting more money into this account UNTIL this issue has been resolved.



If this is not resolved in a timely fashion, I will move my business elsewhere. Yes, I do understand that depositing $4,000 to $5,000/month into my checking account isn't a big account for you, though so far I have had nothing but bad experiences with US Bank when I have had issues with my account, I do not deserve to be treated in this fashion.



I am getting to the point of were I am ready to file a complaint with Mike Hatch, MN State Attorney General and the Better Business Bureau.
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#15 Consumer Comment

Go to another bank

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

Yeah, US Bank stinks. Close your account and go elsewhere. Remember, all banks have overdraft fees, but the way US Bank post these fees is ridiculous. I currently have an account at a local regional bank that will not charge you overdraft fees for items that have not posted yet or temporary negatives. Even if you do go negative, you have until the end of the business day to make it right and no fees will be assessed. Yes, these type of banks do still exist and may be available in your area. Of course, the best way to avoid all of this is not to overdraft at all.
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