Fifth Third Bank Western Ohio Fifth Third Bank, Fifth Third Bank Really Is This Stupid! Internet

Yes the banks use tactics to fleece us..this is no secret. But in your case you admit to making an error at the ATM machine and took money from an account that did not have the funds.

Why the money came out of the ATM is because whether or not you were ever made aware..or given a choice by the bank at the time you signed up for that account..you have some type of overdraft protection..which allows you to overdraw from ATMs even if there is no money in the account..or less then you requested.

Now of course the bank LOVES you to have OD "protection"..because as you have discovered...a simple mistake can cost you plenty.

Now it goes without saying you need to be careful not to overdraft...but you can ask the bank to opt out of OD protection. What that will do is decline use of the debit card at point of sale..or at an ATM if the funds are not available. Personally I feel strongly that when you first open an account with a bank..that you should NOT be given OD protection unless the bank asks you if you want it..and explains what can happen if they manipulate transactions. I think if more people were aware..not only would there be less overdrafts..but less consumers to be victimized by it. But..since the banks a greedy crooks..and NOT idiots..would you not agree it is in their best interest to have their customers keep the overdraft "protection"?

Now it seems you closed your account to use a credit union..this is a much better deal..much safer to your financial well being..and if you compare the terms and conditions of the CU to the banks..it should become apparent the ripoff that the bank is..assuming you are using a good credit union.