Report: #196741

Complaint Review: Charter One Bank

  • Submitted: Fri, June 16, 2006
  • Updated: Mon, June 19, 2006
  • Reported By: Columbus Ohio
  • Charter One Bank
    Columbus, Ohio
  • Phone:
  • Web:
  • Category: Banks

Charter One Bank overdraft fees and mega rewards card Columbus Ohio

*Consumer Comment: It is not just overdraft

*Consumer Suggestion: Don't Overextend Your Checking Account

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I joined charter one about 21/2 years ago. At the begining they seemed to be an okay bank. They always said there are no fees with "FREE CHECKING" They deposit $50.00 into your account for having direct deposit and then they give you a $50.00 gift card for opening an account with them. They fail to tell you that they are reporting that $100.00 to the IRS. So after filing my 2004 taxes I have to pay back taxes because Charter One gave me $100.00. I never received a 1099 form from the bank. So I have to pay for that mess that the bank caused. Also when you have direct deposit they will wait until 4:00 am to deposit the money. So if you have anything that will cash that morning they will bounce all of it and collect the fees. I am still trying to catch up from the fees from back in April of this year. They keep taking 33.00 every 4 days for continuos overdraft fees and expect you to pay all of this to them. There fees have also gone up after they said they would never change from the time you open the account. They have raised the bounce fees to $38.00 per transaction wether it is a penny or ten dollars. They also have the mega rewards program. If you do not give them the points or 25.00 every year they deduct it out of your acount whether it is in there or not. So they can charge you fees on that as well. Also they charge you for any points that you redeem. Word to the wise: DO NOT GO WITH CHARTER ONE BANK

Columbus, Ohio
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This report was posted on Ripoff Report on 06/16/2006 11:44 AM and is a permanent record located here: 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

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#1 Consumer Comment

It is not just overdraft

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

Explain to me why they did not inform me of the tax on the free monies. What gives Charter One the right to not inform me of the tax. So because of them it is okay for me to have to pay back taxes on that tiny $100.00 they gave me for opening an account with them.
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#2 Consumer Suggestion

Don't Overextend Your Checking Account

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

Every bank needs a window in which to debit/credit purchases/deposits. Your bank happens to have a 4 a.m. window and probably some hours before and after that. If you want to stop the NSF fees then don't write checks or use your ATM card for money that isn't already in your account until after that window. Check with your employer/bank -- they can tell you exactly what day a direct deposit will be credited and at what time. For my bank, it happens to be 3 a.m. the day of the direct deposit.

Remember those old days before direct deposit, when you actually had to go to the bank to deposit your paycheck? In those days it would have been another day before you had access to that money.....
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