US Bank is a rip-off, and has redefined the term 'bank robbery' for me. On serveral occasions now, US Bank has held funds for excessive periods of time, including cash. In one instance a deposit was held for 6 business days. According to US Bank policy, if a deposit is going to be held for more than 5 business days, their tellers are obligated to tell the customer. When I brought this policy to the attention of a teller, he told me that the policy was more of a 'guideline' and not an actual policy. I showed him the documentation that he provided me and said, 'Why does it say 'Policies and Procedures' then?' He acted as if he had never seen the document, and it must be an error in the way I was reading it.

When I questioned a hold placed on a check, I was told that funds would not be available until the 5th business day. I was told that this is the case and I was showed a sign that stated this. I informed the teller that I had seen the sign, which is why I was questioning the hold. You see, the check was not posted to the account until AFTER the 6th day. The teller checked my math, and sure enough, the funds had been credited after the 6th business day. After a couple of minutes of 'talking it over' with the manager, the teller came back and said, 'The sign says funds will be available AFTER the 5th business day... so in theory that can be day 6 or 7.' I informed him that in theory, this could also mean 1 year then. He asked me to explain. I said, 'Well, because it says after the 5th business day... then you could hold a check for one year, and that would clearly be AFTER the 5th business day.' He told me that 6 follows 5, so funds should be available after the 5th day... or in other words, on the 6th day. It's all in how you read the sign.

After charging me $140 in misc fees, I decided that I wasn't going to leave the bank until I had exhausted a couple of hours of their time. This did more good than I had imagined. By the end of the 2nd hour, the manager had reversed $100 in charges. I decided to eat the $40 and consider it a wash.

The manager insisted that he not be made to admit that it was a bank error. For $100, I wasn't going to make him... I was just going to go home.

This began my 'online vigil.' I would check my account online two or three times a day. This vigil helped me to spot a couple of charges put on my check card that were in error. I was feeling pretty proud of myself. The charges weren't from US Bank, and simply errors made by staff members at a couple of locations. ($21.00 instead of $12.00... stuff like that. Easily fixed.)

Two months later, I see that an electronic deposit hits my bank. It's my paycheck. A number of items post. Check card and checks are paid. An automatic transfer of funds from my checking to saving takes place. ($25 a month.) US Bank has transferred $25 twice it seems from the statement... but that's no big deal. It's the second time they have done this, so I am used to the error. My balance and available balance are all fine. 24 hours later, there are numerous 'overdraft charges.' I am stunned and examine the online statement. The electronic deposit was moved back in time... the checks and check card purchases are now showing up before the deposit.

The bank had held a cash deposit, tranferred $50 out of savings, and moved the electronic tranfer back in time. This put my available balance at -$5.00 after a $255 check is paid. Ding! Overdraft charge. Coffee and a donut from a gas station... $3. Ding! Overdraft. $1.06 DVD rental. Ding! Over draft. Super market deli purchase $12.00. Ding! Overdraft!!

Each item had been paid at a charge of $31, yet the day before, each item had been paid after the deposit of my paycheck. The extra funds held and the double transfer of money into my savings had occured, but the funds were available, to items were paid. Then my paycheck moves back in time, I assume about an hour. Maybe two.

I called customer service and asked why the statement had changed from the previous day. The woman on the phone became rude and explained that I should talk to online support, because my problem was with the online statement. I asked it there was anything that could be done (about the charges) by online support people. She said, 'No.'
'Is there anything you can do about the charges?'
'No.'
'Can anyone do anything about the charges?'
'No.'

So, my $124 is gone. I explain to the customer service lady that my $124 will most likely go towards paying someone's salary, and for this, I feel good. I am doing my part to keep America at work. Sure everyone is in business to make money. US Bank... in business to 'TAKE' money and then I explain to her that I will 'Cost US Bank far more than $124.' She asked, 'Is that a threat?' I had to think back. Did I sound evil? 'No. I am saying that I will seek out those in need of a financial institution, and I will direct them to stay away from your bank.'

'Oh. Well, thank you for calling US Bank.'
'Thank YOU for your time.'

End of call, and the countdown to account closure begins.

This 5 star service logo seems to be that it is false advertising. I think I would know what 5 star service is, and this ain't it! This is more like 1 star. I automatically give '1 star' to business with toll free numbers. They would have gotten a 2nd star from me if they had polite customer service people. They don't, so 1 star it is.

Chuck
Las Vegas, Nevada
U.S.A.