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Report: #205775

Complaint Review: People's Bank - Greenwich Connecticut

  • Submitted:
  • Updated:
  • Reported By: Greenwich Connecticut
  • Author Confirmed What's this?
  • Why?
  • People's Bank 410 Greenwich Avenue Greenwich, Connecticut U.S.A.
  • Phone: 203-869-0105
  • Web:
  • Category: Banks

People's Bank charged me overdraft fees unnecessarily Greenwich Connecticut

*Consumer Comment: Funds availablity policy.

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This has happened more than once and I have reported them most recently to the FCC. I made a deposit to my checking account on 8/9/06 in the amount of $265.10. I checked the account the next day to ensure that I had enough funds in the account to do my grocery shopping. I made a purchase of $166.08 on 8/10/06. Although I had enough money in the account to cover the $166.08 and an additional check of $15.12 and further to that my paycheck was deposited ($1,639.85)(as it always is, automatically) on the 11th of August, they decided to charge me $60.00 shown as uncollected fees on the account. They have done this in the past to me twice before. The first time they gave me back the $30.00 fee. The second time is still being investigated since I reported them to the FCC. This is their third time. Right now they owe me $120. I have a copy of the statement as shown on the internet at their site and I will forward that to the FCC too. If there is money in the account to cover the purchases, they have no right to charge me fees. This is what I just copied from my account as shown on their site on the internet:

08/09/2006 CHECK DEPOSIT 265.10
08/10/2006 MASTERMONEY PURCHASE A&P #70778 SD9 PORTCHESTER NY 166.08
08/11/2006 NEACH DEPOSIT URSTADT BIDDLE P 1639.85
08/11/2006 NYCE PURCHASE SOU 9 WEST & CO OUT762648 PORT CHESTER NY 41.34
08/11/2006 UNCOLLECTED FEE 60.00

I'm sure they do this to other customers and get away with it but the fact that I'm a single mother who receives no child support and has to watch every penny I make, I caught them.

Can you help?

Donna
Greenwich, Connecticut
U.S.A.

This report was posted on Ripoff Report on 08/12/2006 09:23 AM and is a permanent record located here: https://www.ripoffreport.com/reports/peoples-bank/greenwich-connecticut-06830/peoples-bank-charged-me-overdraft-fees-unnecessarily-greenwich-connecticut-205775. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

Funds availablity policy.

AUTHOR: Robert - (U.S.A.)

POSTED: Monday, August 14, 2006

Look through your account terms and conditions. If you don't have a copy you can get one online.

There is a section on funds availability.

Your problem appears to be that you are drawing on the funds of the deposit before they are available. Basically, depending if the deposit is made before the banks cut off time (more or less around 2 PM give or take), the first 100 dollars of the deposit are available to draw on the next business day. If the check is deposited after the cutoff time. The first 100 dollars becomes available to draw on the next business day after the deposit posts to you account. The remainder of the deposit becomes available the second or third business day after the deposit posts to your account (depending if its a local check or not).

It appears that if you did not already have 66.08 in you account to start with on the 9th, then you did indeed overdraw your account.

Read through you account terms and conditions to become familiar with the bank's policies and you should not make this mistake again.

Good luck.

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