BB&T Bank Charged me 240.00 worth of overdraft fees when I had a positive balance. Lexington Kentucky

I've heard that theory of cashing a check then depositing it. They won't tell you about it, but almost everyone I know does it. If you do that, it goes in automatically instead of having to wait for the check to clear. In future, you should cash then deposit and if you recently put money in, call your card to make sure the money has made it through (though don't go by what the card says except for that, I've done it too often and it gets behind [or rather, lies to you]).

Let's see if I have this right.

Account was opened (recently) and an EFT deposit was made FRIDAY before the holiday weekend.

Saturday, he goes shopping about using his debit/ATM card and makes another deposit on Saturday.

Some thoughts:

The deposit Saturday wouldn't be available unitl WEDNESDAY. Monday was a NON-banking holiday so the Saturday deposit would be processed late Tuesday night and made available on Wednesday.

The debit/ATM purchases processed on Tuesday-hence the "march of the OD/NSF fees."

Also, on new accounts, the banks reserves the right to place short HOLDS on deposits-it seems they did this. The hold on deposits for new accounts is per Regulation CC.

Sorry, but is appears to me that the account holder did this to himself. IMO, the attorney that told him he has a case is either full of it, or isn't familiar with federal banking regulations. Any attorney can proclaim "you have a case." After all, win, lose or draw, the attorney gets paid.

Opening an new account and making an EFT deposit on the Friday before a holiday weekend and then shopping with the debit/ATM card over the holiday weekend is not a wise financial move.

The author of this report should download the Federal Reserve's Consumer Compliance Handbook at the www.federalreserve.gov website. He should also forward the link to download the CCH to his attorney. Here's the official link:

http://www.federalreserve.gov/boarddocs/supmanual/cch/200711/cch200711.pdf

But why does it seem that all of the sudden just about every report has someone depositing money on a Saturday, where that person thinks Saturday is a "banking day". It dos not matter where the check is drawn on..NO(not one..nada..zip..) bank POSTS transactions on a Saturday. They will post overnight on the next banking day, becoming available on the 2nd banking day. So if you spend it before it becomes available you will overdraft.

If you keep your own register that is great. But I am surprised that if you really do that you did not know that banks don't post transactions on Weekends or Holidays. So at the very least you can use this as a learning experience.

I would save your money on trying to find a lawyer. Because any decent lawyer that would even think about taking it would charge you hundreds(if not a few thousand dollars) up front. This is because they know the chance of you prevailing are slim to none.

You can hire an attorney, but there's nothing they'll be able to do for you. Here is the problem:

1. As the original deposit was available to you, when you made the deposit of $600 and reduced it by $200, what you really did was reduce your balance in your account to $244.50. The $600 would not be available to you until Monday - even if the check were on a BB&T account.

2. You went and spent a bunch of money on Saturday reducing the balance in your account (as you said) to -$56.35. Obviously, you were far more overdrawn than that amount.

Saturday is NOT a banking day - the bank will take deposit transactions on a weekend, but do not post such deposits until Monday evening. While it's good you keep a check register, it is your debit card that is the cause of your problem. If you use a debit card, it will cause your available balance to disappear while you actual account balance may never go into the negative. Since NSF's are based on available balance (not actual balance), then you can have NSF fees while your account stays positive.

The truth is - you don't have a case - and any attorney that tells you that is a quack. I would read the account agreement you signed and I would give that agreement to your attorney as well.