Arizona Federal Credit Union ripoff customers with overdraft fees Phoenix Arizona

Sarah, you haven't given us all the details here. Specifically, what kind of check were you depositing? All banks place holds automatically (well, almost all) on deposited checks. The banks are obliged to post their hold policies publically. Typically, you will see placards at the teller line, or in the lobby outlining their hold policy.

Banks also have the right to place an exceptional hold on an item. For instance, a third-party personal check. When they do this, they must provide you with a paper document explaining why the hold was placed, and when it will release.

If your deposit was just an ordinary check, then like always, and as it says on your receipt, the deposit is subject to collection. You wrote checks on funds you didn't have, and if the overdraft showd up the next day, you wrote checks before you even deposited. That's a felony in some states, you should be happy that all you did was overdraw.