• Report: #653303
Complaint Review:

BB&T Bank

  • Submitted: Wed, October 20, 2010
  • Updated: Wed, October 20, 2010

  • Reported By: Karl — Luray Virginia United States of America
BB&T Bank
200 WEST SECOND ST., , Winston-Salem, North Carolina United States of America

BB&T Bank B B & T Mortgage Co, Overdraft Scam - Here's How Their Doing It to Everybody Banking Online! Winston-Salem, North Carolina

*Consumer Comment: overdraft fees

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RE - Fraud, treachery and the OVERFRAFT TRAP Heres How They Have Been Doing It



BB&T's Online Banking website is set up to intentionally trick and cheat its users. Once logged in and having selected your checking Account History, the page displays what should be accurate and complete information but it does not!. [continued below]....



The 1st and most notable block in the upper left corner displays 2 items. Your "Available Balance" (bolded text) with the dollar amount and just below is the "Posted Balance" (un-bolded text), followed by that current dollar amount. The difference in the two values are presumably that the "Available Balance" includes pending transactions that will post by the next day or two and show up in the register below under the "Daily Posted Balance" column when they do.


At the top of the register, are 3 tabs. The 1st one labeled Posted Transactions" is opened by default, and shows the list of all the normal recorded transactions down the page.



****************************POSTED TRANSACTIONS***************************************************************



The 2nd tab labeled "Pending Transactions" when clicked on, informs you that it "reflects transaction activity and holds affecting your Available Balance." Great, no problem (yet), as calculating the debits, credits and the "Daily Posted Balance" from the previous tab, equals the "Available Balance" still being displayed at the upper left corner of the screen.




**********************************************PENDING TRANSACTIONS**********************************************


But here comes the deception. Any thinking person would now believe he has all the required knowledge of his checking account to know whether or not he has sufficient funds to make additional debits, either by making online payments or using his debit card at the store. Theres an awful lot of other clutter on BB&Ts website but nowhere is there any admonishment that your financial data may or may not be accurate. Regardless, you have what you came for so you move on.  However, this is where the fraud, treachery and the OVERFRAFT TRAP come into play. The false, inaccurate, misleading and incomplete information provided gives the user no reason, and just as importantly, no indication that he should look behind door #3, the 3rd tab labeled "Bill Payment Checks." But if one does, so what; hes already certain that if there are any checks in the queue, it doesnt make any difference. Hes already been assured that all pending transactions have been calculated into the resulting Available Balance column.  Plus, if youre like me, doing online banking, you do not write any checks and you've already been assured that you have already viewed your current posted balance and all the pending transactions, why would you click on the "Bill Payment Checks" tab other than random curiosity?


As it turns out, BB&T sends out "paper" checks to some of your payees and this tab is where those pending check transactions are PLACED. HOWEVER, not only do they NOT get included in the "Pending Transactions," they typically languish under that tab, for many days or weeks longer than your other electronic payments.


Then what about outstanding purchases made with ones debit card. Most people probably think that when they purchase something at a store by swiping their debit card and the process is approved, that the bank has immediately debited the money from their checking account. Not so; the bank has only responded to the merchant that the funds at that moment are sufficient for that particular purchase. Merchants, I included, usually collect all the daily or weekly pre-approved transactions and perform a final batch submission. Not until that time do funds actually transfer from ones checking account to the merchants bank account.


Therefore, BB&T should have a 4th tab for those pending debit card transactions just as there is a 3rd tab for Bill Payment Checks. Ones BB&T checking account has already been approved for the debit card purchase so the bank has already recorded that information somewhere. However, that information is also not calculated into the Available Balance nor is it provided anywhere on the BB&Ts website in ones Account History page, intentionally furthering the under reporting by BB&T of committed funds to the customer. And here again, there is absolutely no caution or admonishment provided in ones online Account History page to indicate that the Available Balance probably does not include debit card transactions either.


So now you continue your normal spending and depositing with confidence only to find out one day that those hidden transactions, which you may or may not have even noticed, have finally posted and have overdrawn your account! You then realize that you have sent out maybe a dozen other unknowingly underfunded payments, many of which have or will now overdraw your account even further as they post to your bank account.




************************************************BILL PAYMENTS CHECKS******************************************


BB&T successfully tricks you by intentionally under reporting your account information which is misleading and incomplete. You are lured into a false sense of security so you will commit more funds that are NOT actually there, but which are reported as being there. This providing of false accounting can only be for the sole purpose of justifying their slamming you with up to four, $35 overdraft fees per day. Those overdraft fees put your checking account even farther into the red, causing even more overdrafts, more $35 fees etc., etc., and you are getting systematically screwed as BB&T greedily absconds with your hard earned money.


When you complain that their website doesnt provide accurate and truthful information and doesnt indicate anywhere that your banking information may not be accurate, their lame (apparently a canned and employee distributed) response is to admonish YOU for being fiscally irresponsible by not writing down into a personal ledger, all your banking transactions to keep track of your own money.


Lets back the train up to the station!!!


The expectation of accurate, complete and trustworthy (the T in BB&T does stand for trust, after all), account keeping, is precisely what every person on this planet expects from their bank. If BB&T has chosen to alter the centurys old banking model, where is there any indication from BB&T that they have done so? There is no such statement anywhere on their Online Banking website; Ive checked. Where or when was there any indication that the online account information wasnt reliable, accurate nor complete and that you should keep your own separate records and not to trust the BANKs information??!! There is no such statement anywhere on their Online Banking website; Ive checked for that also.



The answers are intuitively obvious to the most casual observer; they dont inform their customers so that they can continue this systemic fraud! There must be tens if not hundreds of thousands of other BB&T Online bankers who have been and are continuing to be ripped off by BB&T by their premeditated scam to trick all their customers into a position of continuous default, resulting in billions of dollars in bogus penalty fees!

This report was posted on Ripoff Report on 10/20/2010 01:29 PM and is a permanent record located here: http://www.ripoffreport.com/reports/bbt-bank/winston-salem-north-carolina-27102-1255/bbt-bank-b-b-t-mortgage-co-overdraft-scam-heres-how-their-doing-it-to-everybody-ban-653303. 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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#1 Consumer Comment

overdraft fees

AUTHOR: johnchatt6 - ()

I had opted in for overdraft and realized it was costing me alot of money. I have since opted out and they still continue to charge me overdraft fees on debits. I thought the federal reserve had new rules so that if you opted out they could not charge the fees? These people are crooks.
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