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Report: #467127

Complaint Review: US Bank - San Dimas California

  • Submitted:
  • Updated:
  • Reported By: San Dimas California
  • US Bank 165 E.Bonita Ave San Dimas, California U.S.A.
  • Phone: 800-usbanks
  • Web:
  • Category: Banks

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US Bank has taken over the bank I have been with for 25 years.

I was recently out of town and used my VISA / ATM card to make some purchases, which were approved no problem. I returned home and continued my banking as usual. A week later I recieved notice in the mail that I was charged three overdraft charges to the tune of $112.50.

The bank manager explained that even though the account was never overdrawn, it could have been if I had not made the deposits the day before and the day after my trip! I recieved reciepts for the deposits and both show positive account balances. This a business checking account. There are the customary policies and restrictions. One of those deposits was cash. The checks were held for the next days posting as usual. We are very much aware of the policy. The account was never overdrawn. We never cost US Bank a penny. Oh, and did I mention I have another account at this bank for over 100k.

The US Bank corporate explanation is that the first approved hold was in access of the cash deposit so we were charged overdraft fees for that hold and two other holds which did not appear on our account for a week but were held against the account at the same time as the ATM "approved" transaction was made. In other words we used deposited funds that were not available.

OK, so why approve the VISA / ATM transaction in the first place? US Bank is making a lot of money from these kind of policies. I can assure they will not make anymore money from me!

Jeepers
San Dimas, California
U.S.A.

This report was posted on Ripoff Report on 07/02/2009 02:00 PM and is a permanent record located here: https://www.ripoffreport.com/reports/us-bank/san-dimas-california-91773/us-bank-overdraft-or-thieft-san-dimas-california-467127. 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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#4 Consumer Suggestion

You just incriminated yourself.

AUTHOR: I Am The Law - (U.S.A.)

POSTED: Monday, August 03, 2009
Here are two statements from your ROR. These are your own words.....

"The checks were held for the next days posting as usual. We are very much aware of the policy."

and

"OK, so why approve the VISA / ATM transaction in the first place? US Bank is making a lot of money from these kind of policies."

Basically, you just admitted that you're intentionally using your debit card for purchases before the checks clear. It's is your own fault you got stuck with some fees. What's the expression? "Don't do the crime if you don't want to do the time."
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#3 Consumer Suggestion

You went below zero.

AUTHOR: I Am The Law - (U.S.A.)

POSTED: Tuesday, July 21, 2009
So you're saying your available balance never went below zero and you got overdraft fees? I find that difficult to believe. You went negative, admit it.
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#2 Consumer Suggestion

quick easy way to avoid fees

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

POSTED: Wednesday, July 08, 2009
Well, one part of your story jumps out at me, and that is the part where you say you have over 100k in an account with the bank. Well, if you can amass that amount of funds, you should be able to qualify for an overdraft protection account to link to your checking. Either a line of credit or another checking or savings account can be used. with overdraft protection, you dont ever have to worry about what your available balance is or when your deposit will clear and all that stuff. at worst you will pay a few bucks for finance charges or transfer fees with the od protection account, versus hundreds of dollars in overdraft fees.
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#1 Consumer Comment

It Doesn't Matter if the Balance was Positive

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

POSTED: Thursday, July 02, 2009
It matters if the available balance was negative. You need to find out from the bank what the available balance was when the overdraws occurred. Chances are, your deposits were not immediately available - as such, they would not have been credited to your account before the debits flowed through...

Also, there are few debit cards that get denied if the account goes negative; this is more for the benefit of the merchant than the bank. Let's understand: the bank is nothing more than an administrator of your account - so have them prove to you or at least show you where the available balance went negative. I'm sure you'll find that it did. Banks make very few errors like this because the whole process is all computerized...
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