Complaint Review: Charter One Bank - Ithaca New York
- Charter One Bank www.charteroneonline.com Ithaca, New York U.S.A.
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- Category: Banks
Charter One ISF charges of $40 a pop for using debit car rather than declining the transaction Ithaca New York
*Consumer Comment: Debit Cards
*Consumer Comment: Debit Cards
*Consumer Comment: What did your ledger say?
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The policy of this bank is to set accounts up automatically as follows: If you attempt rouse your debit card for a purchase hat is greater than your account balance, the transaction is completed and $39.99 is deducted from your account as a service charge. They mail a notice of insurficient funds that you receive, presumably, long after you have made other transactions that each receive the same deduction. They do not call you until a week or two has passed. Then, all of those little transactions add up to hundreds of dollars in service charges.
This happened to me. Upon calling customer service I was told that one of these charges would be forgiven me "as a courtesy." I spoke to this agent's superior. This person forgave me another two ISF charges. I still owed close to $300 in service charges.
Had I been declined the first transaction I would have used a different card and deposited money in my account. Instead, I was left ignorant of all of the $40 charges I was accruing on $7 purchases.
Very few people want to be chrged $40 for the service of being lent a negligable amount of money on their bank cards. There is a good deal of dishonesty in a policy of giving everyone this dubious service without making sure the customer is well aware of the nature of the service.
David van b
Ithaca, New York
U.S.A.
This report was posted on Ripoff Report on 11/18/2008 05:07 PM and is a permanent record located here: https://www.ripoffreport.com/reports/charter-one-bank/ithaca-new-york/charter-one-isf-charges-of-40-a-pop-for-using-debit-car-rather-than-declining-the-transac-392554. 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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#3 Consumer Comment
Debit Cards
AUTHOR: Ken - (U.S.A.)
SUBMITTED: Wednesday, November 19, 2008
Debit cards are replacement for paper checks. A good rule of thumb is to only use one in the occasion when you would have written a check. i.e. not for a coffee at Starbucks.
If you were writing a paper check, no one would run out and stop you, telling you that you have insufficient funds. Think the same way about the debit card, no one will stop you from causing an overdraft. The debit card only LOOKS like a credit card, but in fact processes through different systems, and does not work the same way.
#2 Consumer Comment
Debit Cards
AUTHOR: Ken - (U.S.A.)
SUBMITTED: Wednesday, November 19, 2008
Debit cards are replacement for paper checks. A good rule of thumb is to only use one in the occasion when you would have written a check. i.e. not for a coffee at Starbucks.
If you were writing a paper check, no one would run out and stop you, telling you that you have insufficient funds. Think the same way about the debit card, no one will stop you from causing an overdraft. The debit card only LOOKS like a credit card, but in fact processes through different systems, and does not work the same way.
#1 Consumer Comment
What did your ledger say?
AUTHOR: Edgeman - (U.S.A.)
SUBMITTED: Tuesday, November 18, 2008
Your ledger or check register must have shown a balance that wouldn't have been enough to cover your transactions.
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