KeyBank Charges overdraft charges on amounts already paid / rearrange checks and debits to charge overdraft fees Columbus Ohio

This nonsense about not using a debit card is exactly that.  What are you going to do for daily purchases? Write a check? HaHa! Checks are hardly ever used on a daily basis anymore.  Not because people prefer debit cards, but because hardly anybody takes checks anymore.  Why should they? With the rise of identity theft, and bad check writing, it is not in a business' interest to take checks.  So please stop with the "don't use a debit card".  As far as things posting at a later date, I get that, but they show in PENDING immediately.  So, IMMEDIATELY take the money out of the account and then there will be no issues, right?

Why would you even use your debit card for $4.00? Use cash. IF you would not write a check for $4.00, then don't use your debiit card. I cary about $20.00 in cahs and when I buy somethin for onlya few dolalrs, I use cash, thus avoiding the problem all together. Besides, I keep a register, AND, get this! I also reconcile my bank statement every month. Bet you don 't do either one.

Paul, the account agreement states that the banks have the right to choose how transactions post. They simply choose to post highest to lowest. But there is an equally more important fact:

If there is enough money in your account, the bank can sort checks or debits in ANY ORDER they wish and you would NEVER overdraw your account. Writing your senators and congresspeople is a waste since the most important ones have been bought by the banks - there will be no changes to anything. On top of this, since the courts have already seen to it that this entire process is legal, it would be better to live within the terms of the agreement YOU signed in the first place.

It's NEVER about defending a bank. It's about implementing common sense.

Let's see you accuse the banks of not being fair, so of course the first thing you want to do is have them post lowest to highest..Ummmmm I'll just let you think about that for a while. The only reason that a consumer would get nailed for multiple $5.00 purchases is if THEY overdrafted their account and used their card multiple times. Yes it is really that simple. Don't overdraft your account and you don't get nailed with fees.

"..At minimum, banks should (by law) be made to allow the option of posting lowest-to-highest checks/etc..."
- And by law are you aware that if you did the same things with checks you would be charged with Check Fraud.

"Those who say 'don't use a debit card for purchases' are wrong!"
- They are only wrong for people who can manage their accounts. Because a majority of people DO NOT overdraft their accounts. If you can manage it and use a Debit Card, more power to you. But if you can't then you need to stop using it until you can learn.

"DON'T DEFEND THE BANKS!"
- Defending the banks..NO. They are just pointing out that if you have a bank account, you need to take resposibility for it. Banks are not a babysitter. If you want someone to manage your account then hire an accountant.

"Now is the time to come down HARD on the banks while we can! Write your Senators & Congressmen! Write into your newspapers!"
- Or better yet, spend the time it would take to do that and actually do as suggested and take the responsibility to manage your account.

I've gotten nailed by the higest-to-lowest paid posting scam banks run many times. Banks ALWAYS roll out that old saw "our customers want their largest checks paid first (i.e. mortgage payments). What a crock!

At minimum, banks should (by law) be made to allow the option of posting lowest-to-highest checks/etc. first. Why have consumers get nailed for multiple $5.00 debit card charges that incur a $35.00 fee?

Those who say "don't use a debit card for purchases" are wrong! Why have the banks promoted the use of debit cards? If they can't be used by consumers in a fair, honest way, why allow them at all?

DON'T DEFEND THE BANKS! Now is the time to come down HARD on the banks while we can! Write your Senators & Congressmen! Write into your newspapers!

Ok let me start off by saying that you are not alone out there with problems like these. First let me say this, it has been common practice for years now for banks to start with the highest dollar amount and work their way down from there on any given day. As a matter of fact your daily flow should look like this always, they do not just practice this when you are going to over draw your account. Second "Real-Time" isn't real in the sense that although it will show up in your pending items, the money hasn't actually been requested by the company you made the charge with. "Real-Time" is the day that the company requests payment for services rendered, which could be a day or a week, you never really know.

Just some friendly advice, I do not agree with how they do business but their policies are clearly stated when you sign on the line to open you account. If you choose not to read them well, I cannot help. Also don't think any other banks are different no matter what they say; Chase, Huntington, 5/3, they are all the same.

Using an account register and reconciling that register with a monthly account statement from the bank will prevent any account holder from causing any NSF/OD fees.

The majority (if not all) of the reports I've read about NSF/OD fees have common behaviors of the account holders:

using atm cards for everyday purchases.
using more than ONE card attached to the account (husband and wife)
using atm cards for online purchases.
using atm cards for 'auto-bill pay' (autodebits)
relying upon telephone or online account balances to determine what money is available for that shopping trip to Walmart.
*NOT using an account register.
*not reconciling an account register with the scheduled monthly account statement generated by the bank.

Ways to avoid these NSF/OD fees:

1. Use an account register and reconcile the account register with a monthly written statement generated by the bank. If the bank is not mailing statements, contact customer service to have monthly statements MAILED to you.

1a. Be aware of ATM fees, such as the 'non-bank ATM fee' that most banks charge when you use an ATM that is not owned by your bank to make a withdrawal and post that fee in your account register immediately.

1b. Also be aware of any monthly 'account service fee' charged by your bank and post that to your register on the appropriate date.

2. Do NOT GIVE bank account information (or ATM card info) to any merchant, service provider, utility, online service to pay for services and goods. Use a REAL credit card for this purpose (either secured cc or unsecured cc.) Do not setup any automatic deposit to an account that is attached to said cc-NO auto payments to CC company-mail a check each month. If the entity demanding payment makes a mistake, you're gonna have a host of problems and risk OD/NSF fees.

3. Do NOT use an ATM card for everyday expenses-USE CASH. Establish a monthly budget and withdrawal a weekly 'allowance' for every day expenses such as 'milk and bread' from the corner store, Burger King, etc. This will reduce the amount of transactions on the bank account which in turn makes RECONCILING the account and detecting ERRORS easier to accomplish. Again, if the entity demanding payment makes a mistake, you're gonna risk NSF/OD fees.

4. Do not shop with the ATM card-use a real credit card. A real credit card offers protections that you don't have with an ATM card. If the merchant/service makes a mistake, you can dispute it with the CC company WITHOUT getting any OD/NSF. Not true if you use an ATM card-if the merchant makes a mistake, your money is gone until you can convince your bank to give it back, as well as OD/NSF fees.

5. ONLY ONE ATM CARD to one account. Do NOT have 2 or more atm cards for one bank account. Having 'his and hers' ATM cards attached to the same account is the same as in the old days when some folks would have 2 checkbooks for writing checks. It was an invitation to disaster then, and it is today.

6. Verify that deposits to the account have actually cleared. Deposits can take anywhere between 1 and 5 BUSINESS days to clear depending on the type and/or source of the deposit. Deposits over $5000 can take even LONGER before they are posted to the account.

The Federal Reserve publishes a Consumer Compliance Handbook which gives detailed information about what banks can and cannot do with deposits, holds, and funds availability. You can download this handbook at http://www.federalreserve.gov/boarddocs/supmanual/cch/200711/cch200711.pdf

Follow ALL of these suggestions and you will NEVER cause an OD/NSF fee again unless it is a LEGITIMATE bank error or caused by a merchant. If it is caused by a bank error the bank will gladly and quickly rectify the situation and credit any fees generated as well as contact payees and cover any fees the payees assess to you. If the fee is caused by a merchant error, you will need to hold the merchant accountable for the fees, although in many cases the bank may reverse the fees as a courtesy.

This is a tried and true method to avoid these fees. It works EVERY TIME it's tried.

Using an account register and reconciling that register with a monthly account statement from the bank will prevent any account holder from causing any NSF/OD fees.

The majority (if not all) of the reports I've read about NSF/OD fees have common behaviors of the account holders:

using atm cards for everyday purchases.
using more than ONE card attached to the account (husband and wife)
using atm cards for online purchases.
using atm cards for 'auto-bill pay' (autodebits)
relying upon telephone or online account balances to determine what money is available for that shopping trip to Walmart.
*NOT using an account register.
*not reconciling an account register with the scheduled monthly account statement generated by the bank.

Ways to avoid these NSF/OD fees:

1. Use an account register and reconcile the account register with a monthly written statement generated by the bank. If the bank is not mailing statements, contact customer service to have monthly statements MAILED to you.

1a. Be aware of ATM fees, such as the 'non-bank ATM fee' that most banks charge when you use an ATM that is not owned by your bank to make a withdrawal and post that fee in your account register immediately.

1b. Also be aware of any monthly 'account service fee' charged by your bank and post that to your register on the appropriate date.

2. Do NOT GIVE bank account information (or ATM card info) to any merchant, service provider, utility, online service to pay for services and goods. Use a REAL credit card for this purpose (either secured cc or unsecured cc.) Do not setup any automatic deposit to an account that is attached to said cc-NO auto payments to CC company-mail a check each month. If the entity demanding payment makes a mistake, you're gonna have a host of problems and risk OD/NSF fees.

3. Do NOT use an ATM card for everyday expenses-USE CASH. Establish a monthly budget and withdrawal a weekly 'allowance' for every day expenses such as 'milk and bread' from the corner store, Burger King, etc. This will reduce the amount of transactions on the bank account which in turn makes RECONCILING the account and detecting ERRORS easier to accomplish. Again, if the entity demanding payment makes a mistake, you're gonna risk NSF/OD fees.

4. Do not shop with the ATM card-use a real credit card. A real credit card offers protections that you don't have with an ATM card. If the merchant/service makes a mistake, you can dispute it with the CC company WITHOUT getting any OD/NSF. Not true if you use an ATM card-if the merchant makes a mistake, your money is gone until you can convince your bank to give it back, as well as OD/NSF fees.

5. ONLY ONE ATM CARD to one account. Do NOT have 2 or more atm cards for one bank account. Having 'his and hers' ATM cards attached to the same account is the same as in the old days when some folks would have 2 checkbooks for writing checks. It was an invitation to disaster then, and it is today.

6. Verify that deposits to the account have actually cleared. Deposits can take anywhere between 1 and 5 BUSINESS days to clear depending on the type and/or source of the deposit. Deposits over $5000 can take even LONGER before they are posted to the account.

The Federal Reserve publishes a Consumer Compliance Handbook which gives detailed information about what banks can and cannot do with deposits, holds, and funds availability. You can download this handbook at http://www.federalreserve.gov/boarddocs/supmanual/cch/200711/cch200711.pdf

Follow ALL of these suggestions and you will NEVER cause an OD/NSF fee again unless it is a LEGITIMATE bank error or caused by a merchant. If it is caused by a bank error the bank will gladly and quickly rectify the situation and credit any fees generated as well as contact payees and cover any fees the payees assess to you. If the fee is caused by a merchant error, you will need to hold the merchant accountable for the fees, although in many cases the bank may reverse the fees as a courtesy.

This is a tried and true method to avoid these fees. It works EVERY TIME it's tried.

Using an account register and reconciling that register with a monthly account statement from the bank will prevent any account holder from causing any NSF/OD fees.

The majority (if not all) of the reports I've read about NSF/OD fees have common behaviors of the account holders:

using atm cards for everyday purchases.
using more than ONE card attached to the account (husband and wife)
using atm cards for online purchases.
using atm cards for 'auto-bill pay' (autodebits)
relying upon telephone or online account balances to determine what money is available for that shopping trip to Walmart.
*NOT using an account register.
*not reconciling an account register with the scheduled monthly account statement generated by the bank.

Ways to avoid these NSF/OD fees:

1. Use an account register and reconcile the account register with a monthly written statement generated by the bank. If the bank is not mailing statements, contact customer service to have monthly statements MAILED to you.

1a. Be aware of ATM fees, such as the 'non-bank ATM fee' that most banks charge when you use an ATM that is not owned by your bank to make a withdrawal and post that fee in your account register immediately.

1b. Also be aware of any monthly 'account service fee' charged by your bank and post that to your register on the appropriate date.

2. Do NOT GIVE bank account information (or ATM card info) to any merchant, service provider, utility, online service to pay for services and goods. Use a REAL credit card for this purpose (either secured cc or unsecured cc.) Do not setup any automatic deposit to an account that is attached to said cc-NO auto payments to CC company-mail a check each month. If the entity demanding payment makes a mistake, you're gonna have a host of problems and risk OD/NSF fees.

3. Do NOT use an ATM card for everyday expenses-USE CASH. Establish a monthly budget and withdrawal a weekly 'allowance' for every day expenses such as 'milk and bread' from the corner store, Burger King, etc. This will reduce the amount of transactions on the bank account which in turn makes RECONCILING the account and detecting ERRORS easier to accomplish. Again, if the entity demanding payment makes a mistake, you're gonna risk NSF/OD fees.

4. Do not shop with the ATM card-use a real credit card. A real credit card offers protections that you don't have with an ATM card. If the merchant/service makes a mistake, you can dispute it with the CC company WITHOUT getting any OD/NSF. Not true if you use an ATM card-if the merchant makes a mistake, your money is gone until you can convince your bank to give it back, as well as OD/NSF fees.

5. ONLY ONE ATM CARD to one account. Do NOT have 2 or more atm cards for one bank account. Having 'his and hers' ATM cards attached to the same account is the same as in the old days when some folks would have 2 checkbooks for writing checks. It was an invitation to disaster then, and it is today.

6. Verify that deposits to the account have actually cleared. Deposits can take anywhere between 1 and 5 BUSINESS days to clear depending on the type and/or source of the deposit. Deposits over $5000 can take even LONGER before they are posted to the account.

The Federal Reserve publishes a Consumer Compliance Handbook which gives detailed information about what banks can and cannot do with deposits, holds, and funds availability. You can download this handbook at http://www.federalreserve.gov/boarddocs/supmanual/cch/200711/cch200711.pdf

Follow ALL of these suggestions and you will NEVER cause an OD/NSF fee again unless it is a LEGITIMATE bank error or caused by a merchant. If it is caused by a bank error the bank will gladly and quickly rectify the situation and credit any fees generated as well as contact payees and cover any fees the payees assess to you. If the fee is caused by a merchant error, you will need to hold the merchant accountable for the fees, although in many cases the bank may reverse the fees as a courtesy.

This is a tried and true method to avoid these fees. It works EVERY TIME it's tried.

Using an account register and reconciling that register with a monthly account statement from the bank will prevent any account holder from causing any NSF/OD fees.

The majority (if not all) of the reports I've read about NSF/OD fees have common behaviors of the account holders:

using atm cards for everyday purchases.
using more than ONE card attached to the account (husband and wife)
using atm cards for online purchases.
using atm cards for 'auto-bill pay' (autodebits)
relying upon telephone or online account balances to determine what money is available for that shopping trip to Walmart.
*NOT using an account register.
*not reconciling an account register with the scheduled monthly account statement generated by the bank.

Ways to avoid these NSF/OD fees:

1. Use an account register and reconcile the account register with a monthly written statement generated by the bank. If the bank is not mailing statements, contact customer service to have monthly statements MAILED to you.

1a. Be aware of ATM fees, such as the 'non-bank ATM fee' that most banks charge when you use an ATM that is not owned by your bank to make a withdrawal and post that fee in your account register immediately.

1b. Also be aware of any monthly 'account service fee' charged by your bank and post that to your register on the appropriate date.

2. Do NOT GIVE bank account information (or ATM card info) to any merchant, service provider, utility, online service to pay for services and goods. Use a REAL credit card for this purpose (either secured cc or unsecured cc.) Do not setup any automatic deposit to an account that is attached to said cc-NO auto payments to CC company-mail a check each month. If the entity demanding payment makes a mistake, you're gonna have a host of problems and risk OD/NSF fees.

3. Do NOT use an ATM card for everyday expenses-USE CASH. Establish a monthly budget and withdrawal a weekly 'allowance' for every day expenses such as 'milk and bread' from the corner store, Burger King, etc. This will reduce the amount of transactions on the bank account which in turn makes RECONCILING the account and detecting ERRORS easier to accomplish. Again, if the entity demanding payment makes a mistake, you're gonna risk NSF/OD fees.

4. Do not shop with the ATM card-use a real credit card. A real credit card offers protections that you don't have with an ATM card. If the merchant/service makes a mistake, you can dispute it with the CC company WITHOUT getting any OD/NSF. Not true if you use an ATM card-if the merchant makes a mistake, your money is gone until you can convince your bank to give it back, as well as OD/NSF fees.

5. ONLY ONE ATM CARD to one account. Do NOT have 2 or more atm cards for one bank account. Having 'his and hers' ATM cards attached to the same account is the same as in the old days when some folks would have 2 checkbooks for writing checks. It was an invitation to disaster then, and it is today.

6. Verify that deposits to the account have actually cleared. Deposits can take anywhere between 1 and 5 BUSINESS days to clear depending on the type and/or source of the deposit. Deposits over $5000 can take even LONGER before they are posted to the account.

The Federal Reserve publishes a Consumer Compliance Handbook which gives detailed information about what banks can and cannot do with deposits, holds, and funds availability. You can download this handbook at http://www.federalreserve.gov/boarddocs/supmanual/cch/200711/cch200711.pdf

Follow ALL of these suggestions and you will NEVER cause an OD/NSF fee again unless it is a LEGITIMATE bank error or caused by a merchant. If it is caused by a bank error the bank will gladly and quickly rectify the situation and credit any fees generated as well as contact payees and cover any fees the payees assess to you. If the fee is caused by a merchant error, you will need to hold the merchant accountable for the fees, although in many cases the bank may reverse the fees as a courtesy.

This is a tried and true method to avoid these fees. It works EVERY TIME it's tried.

I have had a checking account with Key Bank for 12 years. Yet a similar situation happened to me just the other day. I forgot to record a check which resulted in an overdraft to my account. (My fault) I had no other checks out and all debit transactions had already been subtracted from my balance. The overdraft posted to my account(sometime in the night) so I was at Keybank 9:08AM that morning to see what I need to do to correct my account balance. I talked to a desk person who looked at my account and told me the amount I needed to deposit in order to "settle up".

She told me that the over draft was for ONE item which left a negative $97.00 plus there would be an NSF fee of around $37.00. I gave Keybank $160 cash, which was more than enough to cover the over draft plus the NSF fee. The next day my account showed a positive balance of approx. $26.00. However, the next day there were two more overdraft fees for around $37.00 each in addition to my account being over drawn again. Yet I had not written any more checks or used my debit card. The only logic to this was that KeyBank was ripping me off. Legal doesn't make it right.

The same bank is now telling me that the two debits that had already been deducted from my account and were not included as items in the original overdraft were now being considered as NSF as well. The two Debit transactions in question were for under $4.00 each. Key Bank electronically re-delt the debits from the bottom of the deck (so to speak) as to appear to try and clear my account after it was put into the negative by the larger check. Even the Key Bank rep. I orignally talked to did not see this coming and had no answer for me. She had to have her supervisor explain it to me. She would not reverse these unjust charges. Further more I had $50.00 available in overdraft protection. I was told by the supervisor that these were not covered because overdraft protection will not cover anything under $5.00

So to summerize: They put the largest items through first and if one overdraws this causes any smaller checks or debits, which were to follow, to be considered overdrafts as well. Clearing funds in this order insures that they net as many NSF fees as possible for the one mistake. However if they put the smaller checks and debits in first, more transactions would clear the account before it overdrew.

If Banks are getting away with this, on legal grounds, then laws need to put in place and NSF charges regulated to protect the consumer. We are just beginning to see changes made to how credit card companies are allowed to do business. Acceptance never changes anything.

I have banked with Key for many years and am pretty well versed in how they process transactions. First, in your post you said a direct deposit for $900 went in on Friday. Key posts direct deposits as fully available on the day you are due the money - so if your payday was Friday, that money would be in your account and 100% available Friday morning and would be available for any transactions made on Friday. Now if it went in Friday night for a Monday pay date, your money would not have been available until Monday morning and could not have been used to pay items that posted Friday night or any debit card purchases made before Monday that post the same day as the direct deposit. As far as the real time - here is what they mean - they post in this order - your posted balance minus any pending authorizations that have not posted yet, minus any posted debit card purchases that were authorized from previous days, plus any available deposits from the current day minus any checks or curent day debits or POS. So if your direct deposit came in Friday night for Monday pay, and you used your debit card Friday night and they both post on Monday - your debit would post first and then your direct deposit - (that's the real time they speak of). It all still comes down to not spending money before it is available. Now if your direct deposit was due you on Friday, then there must be more to the story.....

Both checks and electronic transactions are not posted piecemeal throughout a day. They come in as blocks, and all get posted at the same time. Look at it this way, if you did a debit card transaction every hour, on the hour for a day, they are all going to hit you bank at the same time tomorrow, when the electronic file is sent through the clearing house. Checks work the same way, they all arrive at the bank (usually) once a day in a huge bundle.

Given that, how can you expect posting by time of transaction?

Key Bank posts at night, and debits get posted first. The deposit you made and the debit you made were in the same update, but the debit is going to overdraw you since the deposit won't hit until after. Almost every commercial bank posts in this manner, so you have to take it into account (no pun intended) when you are using your debit card. It has always worked this way, but was never as apparent because paper checks didn't clear as fast and usually didn't hit the same update.

If you shop around, you can probably find a financial institution that posts differently (credit unions come to mind), but always your best defense is to be educated in how the account works, and act accordingly.

This has been through the courts already. Banks won. They can reorder the transactions in any order they wish - it's all in the account agreement universal throughout the industry. Changing banks only means the problem will follow you.

Stop using a debit card and stick to cash and checks. That should reduce the problem to near zero.

This has been through the courts already. Banks won. They can reorder the transactions in any order they wish - it's all in the account agreement universal throughout the industry. Changing banks only means the problem will follow you.

Stop using a debit card and stick to cash and checks. That should reduce the problem to near zero.

This has been through the courts already. Banks won. They can reorder the transactions in any order they wish - it's all in the account agreement universal throughout the industry. Changing banks only means the problem will follow you.

Stop using a debit card and stick to cash and checks. That should reduce the problem to near zero.

This has been through the courts already. Banks won. They can reorder the transactions in any order they wish - it's all in the account agreement universal throughout the industry. Changing banks only means the problem will follow you.

Stop using a debit card and stick to cash and checks. That should reduce the problem to near zero.