Branch Banking & Trust Company - BB&T Overdraft chages on a CASH deposit!! Glen Allen Virginia

Now, I can't say I've never paid an overdraft fee. I have been a customer of BB&T's since I was 16 (9 years), and in that time, I have had to learn the hard way about keeping track of my purchases, ect.
I have had problems with BB&T which were not related to an inadequacy on my part, however, so I don't necessarily like the fact that the same people seem to be jumping all over these individuals posting complaints without even giving them the benefit of a doubt.
For instance, I awoke one morning last year to find my checking account overdrawn by $499. Overnight several pending transactions came through, including 15 overdrafts totalling $525.
Now anyone with a brain can see that if I got 15 overdrafts at $525 total, yet was only overdrawn $499, that I must have been in the positive when the first overdraft was assessed. And, in fact, that was the case. For some reason, "bank error" was the response officially given, the bank assessed a $35 overdraft fee while I was $26 in the positive, which resulted in 14 more overdrafts.
Needless to say, that very morning I went into the bank to talk to a representative. It took the (much older) lady almost 3 hours of adding, subtracting, re-adding and my explaining - over and over - that this was a bank error, for her to finally call the manager over and tell them that there was an issue.
Now, I got all of those fees taken off. But the truth remains that those fees WERE NOT MY FAULT. They were bank error. If I had encountered a truly obstinant representative who refused to help me, and instead posted in this forum, I would certainly hope for less rhetoric and insensitivity, and more careful attention to the circumstances surrounding these instances.
Remember, these companies are our employees. We hire them to safeguard our money, and they are at the mercy of the market which we drive through our demand - they are profit-motivated, and so I wouldn't just assume that they never make mistakes or jip people out of their money simply because they haven't done it to you.

Davy, Davy, Davy, always the victim... If something doesn't go in your favor you want to file a lawsuit because it's not your fault, right? Yes, you open a bank acct., agree to the terms and sign the document however, you cannot spell much less manage your money. Why would you blame a corporation for your mistakes? You approached them for a service and they provided the service. It's not personal, it's business! You were given the Pricing Guide of the fees that could be charged if you failed to manage YOUR account appropriately. That means, don't spend your money before you have it in the bank.

I recently switched from a credit union to BB&T. I asked all the questions. You can't assume they are like the banks that have updated their procedures. I learned from the beginning that deposits are not credited until the next business day.

I make sure my deposits are showing in my account before I use my debit card and I check my account on line often to make sure there are no mistakes. Every time I shop I go back to my account and see my transacations pending.

Using direct deposit will make a big difference. My old bank made deposits available the minute you made it unless it was a large check, then they wait 3-5 days for that check to clear before being added.

I have read alot of the complaints about this bank, and I am not saying that they are all right or all wrong. I'm just saying that they operated differently and it's important to ask all these questions before you start making transactions.

I have had not problems since I check my account before paying my bills. I make sure on line that the balance in the top right hand corner is correct, if not my deposit has not been added yet. Hope this helps

It never ceases to amaze me that people think that because you sign something that says you agree to be victimized, means its ethically or legally ok. These banks use procedures to increase the possibilty of overdrafts and maximize the fees. There are loan sharking laws that prevent such abuse, even if you sign a contract that you agree to pay 900% interest, its stills is immorral and illegal under these laws. Banks get away with it because they hide under the "fees" defence. These fees are unjust and cause familys heartache and banks dont care. Do they even relize that its our money that they use to run there business. If everyone pulled there money out these banks would go under (at least until the fat cats in washington pass a 700 billion dollar bailout)

Yes, people are human and make mistakes, does that mean the banks can use this mistake to "financially rape" you. Call your congress reps and tell them to vote for laws to stop this criminal activity!!!


vote Davy Jonz for president !!

I'll put a stop to this travisty!!

Banking Dictionary: Loan Shark
Lender, who makes a business of lending money at rates above legally permitted interest rates. For example, a $5 loan on Monday to be repaid Friday for $6-an annual percentage rate of 1040%, not including interest compounding. Loan-sharking was a pervasive activity through much of the nineteenth century, leading to the formation of cooperative associations, such as mutual savings banks and credit unions, to arrange small loans at reasonable interest rates. State small loan laws generally prohibit loan-sharking, although state laws differ on what is, or is not, an excessive rate of interest.

From the Federal Reserve, Regulation CC:

(a) Cash deposits. (1) A bank shall make funds deposited in an account by cash available for withdrawal not later than the business day after the banking day on which the cash is deposited, if the deposit is made in person to an employee of the depositary bank.

(2) A bank shall make funds deposited in an account by cash available for withdrawal not later than the second business day after the banking day on which the cash is deposited, if the deposit is not made in person to an employee of the depositary bank.


Basically says that the cash has to available the next business day if you deposit it in person - since they will actually post the deposit to your account late that night, after all the other withdrawals have been posted.

From the Federal Reserve, Regulation CC:

(a) Cash deposits. (1) A bank shall make funds deposited in an account by cash available for withdrawal not later than the business day after the banking day on which the cash is deposited, if the deposit is made in person to an employee of the depositary bank.

(2) A bank shall make funds deposited in an account by cash available for withdrawal not later than the second business day after the banking day on which the cash is deposited, if the deposit is not made in person to an employee of the depositary bank.


Basically says that the cash has to available the next business day if you deposit it in person - since they will actually post the deposit to your account late that night, after all the other withdrawals have been posted.

From the Federal Reserve, Regulation CC:

(a) Cash deposits. (1) A bank shall make funds deposited in an account by cash available for withdrawal not later than the business day after the banking day on which the cash is deposited, if the deposit is made in person to an employee of the depositary bank.

(2) A bank shall make funds deposited in an account by cash available for withdrawal not later than the second business day after the banking day on which the cash is deposited, if the deposit is not made in person to an employee of the depositary bank.


Basically says that the cash has to available the next business day if you deposit it in person - since they will actually post the deposit to your account late that night, after all the other withdrawals have been posted.

From the Federal Reserve, Regulation CC:

(a) Cash deposits. (1) A bank shall make funds deposited in an account by cash available for withdrawal not later than the business day after the banking day on which the cash is deposited, if the deposit is made in person to an employee of the depositary bank.

(2) A bank shall make funds deposited in an account by cash available for withdrawal not later than the second business day after the banking day on which the cash is deposited, if the deposit is not made in person to an employee of the depositary bank.


Basically says that the cash has to available the next business day if you deposit it in person - since they will actually post the deposit to your account late that night, after all the other withdrawals have been posted.

Tina,

The bottom line is that you spent money before it was actually in your account and available for use. Very simple, no rip off.

It appears that you are attempting to "live on the float". This can no longer be done.

You MUST have the money in your account AND available for use BEFORE making any transactions against that money.

This is all spelled out in your terms and conditions that you signed for when you opened the account. All you have to do is READ, not assume.

And, keeping an accurate checkbook register is absolutely imperative in order to avoid NSF fees. Not optional.

Hint:
Do not record deposits in your checkbook register at the time you make them, instead, hold the deposit reciept until you see that the funds are available for use, and then write the deposit in your register, as you can now use it.

And, be sure to write all checks, debtit/atm transactions and fees in your register immediately when they occur. This will always tell you what your available balance is. No guesswork.

This system has worked for me for 30 years and I have never paid an nsf fee.

When you deposit a check, or cash in the bank it is NOT posted immediatly. ALl the bank transactions are NOT processed until after closing.

Keep a checkbook register. And for your information, Saturdays, Sundays, and Holidays are NOT business days. And did you not read your brochures when you got the account opened? Reading might help instead of ASSUMING things. Do you know what the first 3 letters in assume spell out? You have to take responsiblities for your actions. You can't expect a bank to "babysit" your account. Can you imagine how many people bank there? Probably not. Okay enough said. I sure hope this helps. Have a blessed day.