Citizens Bank ripoff extra overdraft charges Riverside Rhode Island

MOST banks process debits highest to lowest. There's no "back room" where some bank clerk is "rearranging" transactions to get the maximum number of fees from you.

At Citizens, aka Charter One, credits and debits are posted to your account after midnight, unless you had either a cash deposit during the business day, or withdrawal, or ATM transaction, in which case those are immediate. At least Charter One posts transactions to your account the same day even if they occured after 5 p.m.

After midnight, Charter One processes your credits first, then debits highest to lowest. YOU spent more than you had. I believe you knew you were going to incur some fees, you just didn't count on the bank processing debits the way it does resulting in more fees than you expected. Now you know.

Charter One's bill pay works like this: For major payees who are set up to receive electronic payments, your payment comes out of your account on the pay date, usually by 7 a.m. For other payees, a check has to be issued, and those funds aren't debited from your account until they deposit the check and it hits Charter One.

I understand what you are saying, but, like I said, you were overdrawn, and you knew you were going to be overdrawn. I don't see how this is a rip off.

I work at a credit union so I may be able to offer some enlightenment on this.

First, debits; usually it is not presented from highest to lowest or vice versa; it's whenever the merchant schedules it for collection. There is nothing biased about how it's presented.

Secondly; if the amount of funds is not AVAILABLE when the item is presented for collection, then more than likely a fee will be assessed.

Third; as far as bill pay, they are either sent electronically or by check, depending on the merchant. Usually whenever you initially sent up the payee a check is submitted to find out. Now, regardless of how the payment is sent, you need to have the funds in your account 2-5 BUSINESS days before the scheduled due date. If the payment is sent as a check, it may take up to 7 business days for the payee to receive; if it's electronically, generally it takes 2-3 business days.

Fourth; as far as atm deposits, they usually state on the atm that the financial institution has until the end of the NEXT BUSINESS DAY before the funds are made available.

As far as financial institution policies, they are given to you when you open the account and are available to you whenever you request. It is something that you do have to agree with whenever you open the account. Both you and the personal finance specialist have to sign, so it is a legal agreement.

I hope that some of this information educated you on how financial institutions work. If there are any other questions, I would be more than happy to assist.

I use Citizens Bank's online bill pay and they pay bills a couple of ways...they either do it electronically (and debit the account immediately) or they send an actual check and it comes out when its cashed by my payee.

I use Citizens Bank's online bill pay and they pay bills a couple of ways...they either do it electronically (and debit the account immediately) or they send an actual check and it comes out when its cashed by my payee.

I use Citizens Bank's online bill pay and they pay bills a couple of ways...they either do it electronically (and debit the account immediately) or they send an actual check and it comes out when its cashed by my payee.

I use Citizens Bank's online bill pay and they pay bills a couple of ways...they either do it electronically (and debit the account immediately) or they send an actual check and it comes out when its cashed by my payee.

Mine doesn't actually debit the account for online bill pay until the check or electronic debit is actually presented for payment. I bank with USAA, but I think this applies to all banks who use WebPay Bill Pay, as when I had my checking through my credit union, they did the same thing. I think that is because the bank itself does not process these items for payment and probably contracts with WebPay. They probably also don't do that because you can change your mind about paying a bill scheduled for an advance date, as long as you do it before the item actually gets sent out.

I suspect that they are probably telling you anything you want to hear in order to get fees from you. Make sure that anything that they are telling you about your account policies that may change or are different from their current policies and procedure is in writing and signed by a branch manager.

Please, name some bank names. I have never heard of a bank that does not debit an account when the check is writen for an online bill pay. It does not make sense not to do so. Also name some of the banks that do not post transactions from smallest to highest. They are difficult to find and it would help other customers (even if they are only in your area)to know what banks those are.

WHAT IS ALL THIS BULL!!! HAVE TO DO WITH THEM RE-ARANGING MY TRANSACTIONS FROM HIGHEST TO LOWEST (even if they do write it in small print somewhere) TO GET EXTRA FEEsssssssss OUT OF ME.
WE ALL WOULD THINK DOING THEM BY THE ORDER THEY HAPPENED OR BY THE ORDER THEY CAME IN WOULD BE A little MORE FAIR, BUT TO PERPUSLY REARANGE THEM TO GET MORE MONEY IS NOT FAIR! EVEN IF YOU WRITE IT NOW SOMEWERE AND TELL ME YOUR GOING TO RIP ME OFF AHEAD OF TIME OR NOTTTT.

MY POINT IS THAT FAIR AND CITIZENS' CHARTER ONE BANK JUST DON'T GO HAND AND HAND.

YOU WOULD THINK WHEN YOU BOUGHT IT TO THEIR ATTENTION THEY WOULD CHANGE IT OR REFUND YOU SOME OF THE FEES, BUT NO WAY "THAT'S THE WAY WE DO IT" THEY'LL TELL YOU. I FOUND THAT MENY BANKS DON'T RE-ARANGE ANY TRANSACTIONS AT ALL. FIRST COME FIRST ENTERED....

JUST LIKE THE FACT THAT I FIRST WENT TO CHARTER ONE BECAUSE THEY DO NOT TAKE MY MONEY OUT OF MY ACCOUNT UNTIL A ONLINE BILL PAYMENT CHECK WAS CASHED. UNLIKE CHASE'S BANK ONE WHO WITHDRAWS THE MONEY OUT THE MOMENT THEY WRITE THE CHECK AND PUT IT IN THE MAIL FOR 5 DAYS. I WILL FIND A FAIR BANK THAT DOES EVERYTHING WITH ME IN MINE.

ANYONE WHO KNOWS OF A BANK THAT DOES NOT RE-ARANGE TRANSACTIONS AND WAITS UNTIL A CREDITOR GETS THE CHECK BEFORE TAKING IT OUT OF YOUR ACCOUNT. LET ME KNOW - SO FAR i'VE FOUND A COUPLE OF EACH. THESE ARE QUESTIONS YOU DO WANT TO ASK.

Not to be too intrusive, but if you're on the edge financially, so much so that that the gas man comes to your door to disconnect your gas, then you don't need to be going out to dinner.

You spent more than you had. Period. It's not Charter One's fault.

And, just so you know, I have overdrawn my account a time or two, so I'm not passing judgement. My point is that this is not a rip off.

A checking account is not a free loan...if you overdraw the account, you will get a charge even if you make a deposit the next day...should have waited til the next day to make your transaction. and if you knowingly overdraw (which i am sure we have all done once in a while) then you knowingly accept the consequences (fees). we should just accept responsibility for our actions, the bank tells you in their disclosures how they process (high to low) and when they process and how much the fees are...if you think you can play the "float" game and get away with no fees... silly...

If you used your debit card at the pump without a PIN number entry the problem started here:

"On Friday I stopped to get gas at a gas station, it was $12.43..."

When you use your debit card at a pump by swiping it and not entering a pin the merchant or gasoline company does not know the amount you will pump. They will send a "hold" on funds in your account for a set amount, this can be up to $75.00.

The transaction on Friday was probably sent in a batch at the end of the day, the money was on hold in your account but the actual transaction was not processed by your bank until Monday or Tuesday (depending on when the batch was received by the bank). As you had a set amount "not available" due to the hold it was subtracted from your account by journal entry - for later resolution. Your subsequent transactions posted, you believing you had more money and the hold put you in the negative.

No ripoff here by the bank, the merchants hold is what caught you.

Let's say a banks business day on Friday ends at 4pm (for example). All debits and credits before 4pm will post that day.

Now, any debits or credits made between 4pm Friday until 4pm Monday will be considered one business day.

I'm sure all of this (and ATM transactions) are spelled out for you in the Terms and Conditions sheet you got when you opened the account. If you no longer have this, then ask for another one.

Just because you don't accept this, doesn't make it a ripoff.

LET SAY YOU HAVE $100 IN YOUR ACCOUNT. ON FRIDAY YOU BUY SOMETHING FOR $25, GAS FOR $15, A SHIRT FOR $15. THE NEXT DAY ON SATURDAY YOU GET MORE GAS FOR $10, GO TO DINNER FOR $8 ON SUNDAY YOU GET MORE GAS FOR $10 AND DINER AGAIN FOR $12. THEY ALL TOTTALING $95. MONDAY MORNING THE GAS MAN SHOWS UP AT YOUR DOOR AND WILL CUT OFF YOUR GAS UNLESS YOU PAY $100 NOW. YOU KNOW THE PURCHASE WILL COST YOU A $38 OVERDRAFT FEE BUT WHAT THE HECK. YOU'LL PUT THE MONEY IN TOMARROW. WHEN YOU GO TO THE BANK YOU ACCOUNT IS NOT - $138 YOUR -$366. THE $100 FROM MONDAY IS THE ONLY TRANSACTION THAT DID NOT GET AN OVERDRAFT FEE BECAUSE ON MONDAY THEY PUT THAT ONE IN FIRST HIGHEST TO LOWEST. NOW YOU HAVE 7 OVERDRAFT CHARGES FROM THE WEEKEND, WHEN YOU ONLY EXPECTED ONE TO KEEP YOUR GAS ON.

LET SAY YOU HAVE $100 IN YOUR ACCOUNT. ON FRIDAY YOU BUY SOMETHING FOR $25, GAS FOR $15, A SHIRT FOR $15. THE NEXT DAY ON SATURDAY YOU GET MORE GAS FOR $10, GO TO DINNER FOR $8 ON SUNDAY YOU GET MORE GAS FOR $10 AND DINER AGAIN FOR $12. THEY ALL TOTTALING $95. MONDAY MORNING THE GAS MAN SHOWS UP AT YOUR DOOR AND WILL CUT OFF YOUR GAS UNLESS YOU PAY $100 NOW. YOU KNOW THE PURCHASE WILL COST YOU A $38 OVERDRAFT FEE BUT WHAT THE HECK. YOU'LL PUT THE MONEY IN TOMARROW. WHEN YOU GO TO THE BANK YOU ACCOUNT IS NOT - $138 YOUR -$366. THE $100 FROM MONDAY IS THE ONLY TRANSACTION THAT DID NOT GET AN OVERDRAFT FEE BECAUSE ON MONDAY THEY PUT THAT ONE IN FIRST HIGHEST TO LOWEST. NOW YOU HAVE 7 OVERDRAFT CHARGES FROM THE WEEKEND, WHEN YOU ONLY EXPECTED ONE TO KEEP YOUR GAS ON.

LET SAY YOU HAVE $100 IN YOUR ACCOUNT. ON FRIDAY YOU BUY SOMETHING FOR $25, GAS FOR $15, A SHIRT FOR $15. THE NEXT DAY ON SATURDAY YOU GET MORE GAS FOR $10, GO TO DINNER FOR $8 ON SUNDAY YOU GET MORE GAS FOR $10 AND DINER AGAIN FOR $12. THEY ALL TOTTALING $95. MONDAY MORNING THE GAS MAN SHOWS UP AT YOUR DOOR AND WILL CUT OFF YOUR GAS UNLESS YOU PAY $100 NOW. YOU KNOW THE PURCHASE WILL COST YOU A $38 OVERDRAFT FEE BUT WHAT THE HECK. YOU'LL PUT THE MONEY IN TOMARROW. WHEN YOU GO TO THE BANK YOU ACCOUNT IS NOT - $138 YOUR -$366. THE $100 FROM MONDAY IS THE ONLY TRANSACTION THAT DID NOT GET AN OVERDRAFT FEE BECAUSE ON MONDAY THEY PUT THAT ONE IN FIRST HIGHEST TO LOWEST. NOW YOU HAVE 7 OVERDRAFT CHARGES FROM THE WEEKEND, WHEN YOU ONLY EXPECTED ONE TO KEEP YOUR GAS ON.

You say: "At the end of the day Friday my account was fine. In my hast the next day I did a purchase for $39.34 that overdrew my account. When I returned I deposited the money in my account."

By your own admission, you overdrew the account, then you say you returned to deposit the money...Do you mean you returned the item you purchased on your debit card?

I have 2 Charter One accounts. They debit your account highest to lowest like most other banks, and sometimes it takes longer for a debit card credit to show up on your account. But the issue here is that you spent more than you had, by your own admission, so I don't see how Charter One is ripping you off.