Complaint Review: Povident Bank Of Maryland - Baltimore Maryland
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- Povident Bank Of Maryland Baltimore, Maryland U.S.A.
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- Category: Banks
Povident Bank Of Maryland Ripoff DOUBLE BILLING on Ovedaft Fees Baltimore Maryland
*Author of original report: In Response
*Consumer Comment: Questions...
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Ok. This is somewhat of a new policy within the past year for this bank to do this. And I have already read where Wachovia Bank is doing the same type of scam on us.
This is how it works.
When you make a puchase at lets say Walmart for $70 using your Debit/Credit Card and you select Credit. It doesn't actually mean Credit Anymore.
What happens is this. If your account has $55 in it at that moment when you swipe your card. Your bank will AUTHORIZE the purchase and then charge you an Non-Sufficent Funds FEE (hey where did that word Credit go?). (FYI- it will only DENY the purchase if you account is overdrawn) Then a day or so later, your account is now $32 short or more that you don't even know about, that $70 purchase is posted and ANOTHER $32 fee is taken out on the same puchase because you might have deposited only $25 to cover the puchase and not all those fees.
That is fraud or theft, however you want to put it. If the banks where being honest the system would DENY not AUTHORIZE the purchase for that amount when the funds ae not available.
And yes, I want to sue!
James
Baltimore, Maryland
U.S.A.
This report was posted on Ripoff Report on 06/29/2006 08:02 AM and is a permanent record located here: https://www.ripoffreport.com/reports/povident-bank-of-maryland/baltimore-maryland-21225/povident-bank-of-maryland-ripoff-double-billing-on-ovedaft-fees-baltimore-maryland-198739. 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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#2 Author of original report
In Response
AUTHOR: James - (U.S.A.)
SUBMITTED: Thursday, June 29, 2006
Ok... first off, Correct the spelling, my keyboard had some dirt under the R key and the bank is called Provident Bank of Maryland...
Now.. to respond- Why would they call it a Debit/Credit card if the intent was not to use it for Credit Card Purchases... The Bank forces you to use credit to avoid being charged. This bank charges everyone .25 everytime you make a debit purchase and they make it free to use it as a credit purchase, even tho both types come out of the same account...
The consumer, (you and I) do not see everything that goes on behind the scenes... When we use that card as a credit card, they swipe it, the computer says approved, we sign our name, and 24-48hrs later the money is withdrawn from our account and the transaction is posted on our statement.
But that IS NOT all that is happening.. At most banks... When the computer says approved, it does two things, checks to see if you are currently overdrawn, AND checks to see if the funds are available for the purchase.. If you are not overdrawn.. the purchase is approved.. And what you DO NOT SEE... If you don't have the funds at that instant you are charged an NSF fee..
Then most likely 24-48hrs later you are charged ANOTHER NSF fee when that transaction is posted...
The problem occurs when you check your statement.. The first NSF fee is posted in the middle of a bunch of other transactions for that day with nothing showing an overdrawn balance.. You can check back a few days and still there is no negative balance... but there seems to be a mistaken NSF fee right? You go to the bank and complain and they refuse to refund it because they say you made a purchase without having the funds available, which you did... but then you leave the bank and think its all fixed and the the actual purchase comes thru that night and overdraws the account again.... Quickly this becomes a vicious cycle that can cause hundreds of dollars in fees in a very few days...
The banks are using your errors against you. They are doubling the fees on credit purchases if the money isn't there... I have no problem paying for MY mistake, I didn't make "Mistakes.. only one mistake" Thus I should be charged only once....The banks should pick a time and place to charge you for the purchase, like when it is actually posted.. and Charge you only once....
#1 Consumer Comment
Questions...
AUTHOR: Ken - (U.S.A.)
SUBMITTED: Thursday, June 29, 2006
Is your card a credit card or a debit card? If it's a debit card, why would you select credit? If it's a credit card, why would it hit your checking account?
By selecting credit you caused your own problem. Credit type transactions are submitted in batches, and so, you balance is not (necessarily) checked at time of purchase. When you select debit, it is similar to an ATM transaction which goes through the validation process.
So, why select credit on a debit card?
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