Report: #1037358

Complaint Review: Vantage Credit Union

  • Submitted: Sat, March 23, 2013
  • Updated: Sat, March 23, 2013
  • Reported By: anonymous — O''Fallon Missouri
  • Vantage Credit Union

    United States of America


*Consumer Comment: Did you know

Show customers why they should trust your business over your competitors...

 We are long time customers of VCU and are transferring every loan and account to another bank.  The fees charged by VCU are ridiculous.  Did you know they charge you $2.00 when money is automatically transferred from one of your accounts to another to cover checks?  Did you know you are charged .75 cents every time you use your debit card at a register?  Did you know you get charged an ATM fee to use your card at ATM's that are not credit union ATM's in addition to the charges the ATM already charges?  On top of that...VCU charges a $30.00 NSF fee BEFORE THE TRANSACTION CLEARS.  That's right.  If your transaction is PENDING..and you transfer money to your account because you notice if  that PENDING TRANSACTION is presented you will get a negative balance, they charge you the $30.00 fee anyway!  YES THEY DO!!!  TRUST ME.  I had several pending transactions when I noticed my account was going to fall negative when those pending transactions cleared.  So I transferred $400 dollars from one account to another.  When I went online again to look that all was ok...I got charged 2 $30.00 fees.  When I called, they said it is because the money was PROMISED when I didn't have the money to they charge a fee.  I tried to explain that with technology as it is...and using online banking...that is unfair.  Since the transactions were pending...and I put money in on time for the transactions to clear that is not fair.  That is why technology is helpful so people can avoid this.  You know what her answer was...use a paper ledger to keep track.  Really?  A paper ledger?  This is 2013...I would think using technology is more exact and more helpful.  You know what her comment was again? is helpful.  That is how we knew you were promising money and could charge you the $30.00 charges.  THAT'S IT!  We are done!  To make matters worse...the account I used to transfer money has over $10,000 in it!  Why would I let myself be charged $60. I figured pending meant just that..pending.  What would have happened if one of those PENDING fees was never presented but they had already charged me the $30.00 fees.  I doubt they would have refunded it!
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#1 Consumer Comment

Did you know

AUTHOR: Robert - ()

That the only reason you have a "Pending" transaction is because you swiped your debit card to make a purchase?  Had you not attempted to spend more money than you had available you wouldn't have run into that issue.  While I am sure this concept is a bit tough for you..why not give it a try next time you are thinking about buying something.


Did you know they charge you $2.00 when money is automatically transferred from one of your accounts to another to cover checks?
- That's cheap.  There are some banks that charge up to $10 for this same service. Of course it is even cheaper to manage your account so you don't get this fee at all.

You know what her answer was...use a paper ledger to keep track.   Really?  A paper ledger?  This is 2013...I would think using technology is more exact and more helpful. 

- She is 100% right.   On-Line banking was NEVER meant to be the sole method of managing your account.  Does it make things easier..sure does.  But due to many factors outside of the control of the bank, NO bank will guarantee that is is 100% accurate 100% of the time.  The only thing that can guarantee this is YOUR written register that YOU write down every transaction YOU make as YOU make it.  Oh and if you find a bank that does guarantee on-line banking is 100% accurate 100% of the time for every transaction you could possibly make...get it in writing and be sure to post the name of the bank here, as there are many other people who don't manage their accounts that I am sure would love to know about it.

Just some examples.  If you write a check it could take 1-7 days(or longer) for it to reach your bank, until it hits your account it is impossible for the bank to know you wrote it.  So if you go by what the on-line banking says you will be off.  With your debit card a merchant could be "off-line" or do transactions in batch mode, meaning that it may be anywhere from 1-3 days before they submit the debit to your bank.  During this again will be off because the bank can't know what they haven't been told.   You also have cases where a store may only "authorize" a certain amount such as at a restraint.  But they won't submit the final debit which could be for more if you include something like a tip for a few days.  Again during that time on-line banking will be inaccurate..but your written register would have had the correct amount.

Why would I let myself be charged $60.

- Because YOU refuse to manage your accounts.  If you refuse to manage your account and have $10,000 in your other..perhaps you should take out about $200 and use it as a buffer.
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