AMCORE Bank Ripping off Depositors Elgin Illinois

I merely explained to the OP what happened and the possible bank rules. Do you know why I have to do that? Because the bank's employees either don't understand it themselves, or they are not allowed to explain correctly. You see, if the banks explained their rules correctly, in a way that makes sense, the banks would get less fees. Unfortunately this world has resorted to dollars rather than good customer service.

By good customer service, I don't mean refunding fees that the customer should pay. I do mean refunding the fees that are not the customer's fault (rather than only refunding only the fees that are the banks fault). Many a customer is charged fees for things that are not their fault (they may be the merchant's fault, or the card machine's fault, etc.).

By good customer service, I also mean they could explain things in a way that people understand. They don't feel they owe the customer any explanation and that's wrong.

These two comments preceding me make my heart swell with pride. all common sense is not dead.

Knowing how the system works, I can tell you exactly what happened.

You prefer to "check your online" as opposed to keep a check register. You can see the deposit pending for Friday's business day. Your debits are on thursday's business day. You simply spent more money than you had on Thursday, you were counting on a float. Forget the float, you can't do that anymore.

What you are going to say....

"But it was in there at midnight on Friday, blah, blah, blah."

You paycheck is in there on Friday, again, all the purchases are done on Thursday. Processing from Thursday goes all the way to the wee hours of the morning. About five am all the processing is done for Thursday. This would obviously not include Friday's deposit. Your online is going to show up differently between the hours of processing, because not all of the processing is complete. However, if you actually had a check register, it would show up just fine.

And, as to us, not letting you know for three days. This is ridiculous. First off, the letters we send you informing you of your overdraft are not required by any federal law. We do it as a courtesy. And if you overdrew Thursday, we would know about it Friday and send the letter out that morning. If you get the letter on Monday, that's pretty reasonable considering there is no post on Sunday.

And of course, we can't stop a debit card transaction!! Do you have any idea of the amount of people that would buy something, decide to do a stop payment because they didn't want to pay for it??? The first responder is right, we would be an accessory to theft. You gave them your authorization or the purchase when you gave them your pin number or your signature.

And, yes we do decide who gets paid or not, do you want to know why? Because your account isn't a d*mn loan, its a checking account. If we pay that item, that's our money we are giving away!!!

The fees aren't ridiculous, what's ridiculous, is you expect the bank to babysit your account.

Say your payday is Friday. Your direct deposit it posted Thursday night, but you cannot USE it until Friday. Any transactions you made Thursday or before can be posted before your direct deposit.

Direct deposits are done on a different computer server than debits and credits. The direct deposit server is less swamped than the debit and credit server, so therefore your direct deposits sometimes posts, in real time, before the rest of the debits. However, when the work is done for the day and the computer sees the debits were submitted on the date prior to the direct deposit, they are rearranged.

Many banks will close your account due to too much overdraft activity. However, sometimes when you have direct deposit, the bank will let you keep your account open because they know they can recoup their fees from your overdrafts. When the bank saw you stopped the direct deposit, you gave them the reason to close your account. They close the account because they fear you will not make good on the money you owe them, and it looks like they were right. Because you stopped the direct deposit, you did not make good on the money you owed them and they reported you to Chexsystems.

You will be hardpressed to open another account for the 5 years you will be in the Chexsystems database.

'Imagine, they said they could not stop payment on a debit card charge'

Why would they want to make themselves an accessory to theft? That's what it would be if they did stop it as the items were already taken from the merchant and then declined to pay the merchant. It's bad enough they covered your a*s and did allow the transaction to go through as you are the one who was spending money they didn't have.

'I can only assume it is because the bank makes interest money on your deposits.'

Please, enough with the conspiracy crap. They want it to sit there to make sure it clears plus need to cover whatever else you have overdrafted.

You determined how you wanted to spend the money you didn't have and when you stopped the alleged direct deposit, you were telling the bank to go screw and they reported you. This is of your own doing.