Usbank - US Bank OVERDRAFT CHARGES ARE TO HIGH $37.50 1ST DAY 22.50 + 8.00 EACH DAY UNTIL A DEPOSIT IS MADE I FEEL THIS IS FROGELENT AND RIPOFF CHARGING FOR MONEYS THAT NOT THERE WISCONSIN RAPIDS, Wisconsin

No one cares that you're on a fixed income; you still overdrew.

appears as 'Consumer Comment #18' at Ripoff Report #502469.

So lets take a look into these accusations:

- you walk into the bank open an acct its free.

- you receive the debit card and pin number in the mail its free.

- your statement is free.

-your FDIC ins. is free.

-the 1 800 number is free.

-the teller service is free.

- on line banking is free.

should I continue with the frees.

So now the biggest complaint is the od fee and the order in which the transactions are posted largest to smallest and the holds that are placed on a deposit.

OD fees are in place because it is a source of revenue for all the frees. however it's also in place as a disciplinary action for the miss management of your acct. Keep in mind it is not the banks responsibility to keep track of your spending or the amount of funds you have available. It is solely your responsibility, but the bank does it for you. Once again its free. Now when you od the acct and the bank pays that check or debit purchase they are now providing a service. What would happen if we didn't cover it for you? Lets see, you know that big sign at the register that says 40.00 on returned checks. Yes, that right if the bank didn't pay it you'd be paying the fee anyway just to someone else. This is because it cost the person you wrote that bad check to money, it cost the bank money and also puts them at a financial risk. Keep in mind its illegal to write a bad check and is punishable. So now the bank has a law suite against you.

The posting order.

Yes, the bank does post the largest transaction first. This is because the larger the trans is usually means that it more important. Mortgage payment, rent, car payment, ins., and so on. So now you paid your car payment, it wont come throught for 3 days, so you go to McDonald's, starbux, and make other little 5.00 trans. Now you no that payment for your car is coming out but you chose to spend the money anyway and yeah that money was in the acct for those trans. But now the car payment comes in and you don't have the money for it any longer. oops guess that cup of coffee was more important. so now the bank post the trans in order the way you made them and they send your car payment back. now your credit is ruined. you just hurt your relation with that lender. And the BIG one your cars getting repoed. The posting order isn't to get the most fee's its to cover you dumb decision making.

Hold on a deposit

If your acct is less than 30 days old there is a 5 business day hold placed on the deposit. You would be surprised how many employer's write bad pay checks and not to mention all the fraud now days. Did you print that check off? well the bank doesn't know if you did or not. If the acct is more than 30 days old then it is 100 available then and there and the rest the next business day for the same reason. These hold are in place to protect the bank and you. So you deposit a 500 check it available right away and you go spen all 500. Now 3 days later the fed reserve is done processing the check and its bad. Now the mon ey has to come back out of your acct but wait its gone now your neg 1000.00 instead of 100.00. Also the 5 day hold in the first 30 days is because your building a relationship with the bank.

BUT ITS ALWAYS THE BANKS FAULT. or aleast all of you want to blame them.

so lets look at all the lawsuit's.

Whats the outcome of these lawsuits. hmm lets see everything that was free is no longer free. In fact because of it, I read that bank of America in no longer offering free checking. in fact I just read that they will charge 8.95 for any acct opened with a monthly statement and teller services.

People keep in mind that the banks are a business and in every business there has to be an income. all of those reps that help you and do all your processing for you has to be given a pay check. So now what to do.. banks do away with all the fees what happens now interest rates sky rocket you think 6.99% or even 20% is big just wait im thinking 50% to 75% mite make up for that bankers pay check and everything you want for free.

You all dug your own graves.

When you go to the grocery store do you expect your milk and eggs for free also?

Well, you should talk to manager to help you with fees. You are right fees were very high, now it is changed. there is no daily fee. you have 1 week to make account positive toherwise you will get fee $25 a week.

Who gives a rat's azz that this person is a senior citizen? Just because they wear Depends doesn't mean they don't have to follow the same rules as everyone else. I could just as easily say that I shouldn't have to pay overdraft fees because I'm a college student.

You see bill d, there are A**HOLES of all brands, white, black, rich, poor, redneck...whatever. I have lived in NY, NJ, Florida, Tennessee and now L.A. and I have seen it all.

What the point of this site is..or it's intent, is for a place for people to lodge complaints. It is also called rip off report. A ripoff can be considered something as simple as just paying too much for something.

So the poster in this report feels this bank is charging too much...so it is fair to complain at a site..designed to complain to.

So, what to some people do??

Use this site to knock others who have reported here to complain.

This poster simply stated they made a mistake, and they feel the extra charges per day is hurting the poor and senior citizens.

And that is true.

What they really need to have at this site..is another check box before you respond..something like this...

for one--i live in florida but i am from new jersey--i feel i am far from a redneck--matter as fact i kind of hate white people--even if i am white--but this is another story---but i will admit--there is some rednecks around here--mostly the ones that have to drive these big a*s trucks and jack up the suspension and get these big monstrous tires and then want others to service there vehicle for them????!?!?!?!--these are a*****e rednecks that do this---this is also another story----in any case---the author is not compalining about his mistake that put him in the overdraft-and even getting the overdraft fee itself--he is complaining that they are charging him 30 per day he is in negative and he is old and on a fixed income from ss or something and cannot just deposit money to make it all good--now when he does get paid--half of it if not more will be gone---again---what is the cost to the bank to have his account in -5$ or whatever it was---i do not think he was 1000's of dollars in overdraft---so again--what is the cost to the bank for an account to be in negative?????--is there even a cost???---if there is a cost does it justify 3o per day?????--that is what his compliant is and i think many people missed this point

He admitted this back in January when the report was first submitted. However I think the poster was more upset with the 8 dollars per day then the fee itself.

This poster needs to be more careful not to overdraft, and look for a better bank. Yes they all charge fees if you overdraft, but they all do not charge 8 bucks a day. Chase gives you a business day to get a deposit in with no fee at all..or 15 dollars for each 5 days.

The best thing is not to overdraft of course, but since these things can and do happen, if you are at risk, you should consider a bank that does not charge so high. And do not sign up for overdraft protection if you keep a low balance and use a debit card. Mistakes will happen, people are only human, but how much should that mistake cost to those on fixed incomes? Better off having the transaction declined if you mess up.

..."The USBANKS charged me $37.50 for a mistake i made in my checking account."...

Florida rednecks can't spell for sh*t. They also can't put the blame on the correct people. (themselves) Am I crazy or did this guy just admit that he screwed up?

first off--i was just tryin to give tips to avoid overdraft---i see your point about bank defenders and my spending habits and it is not there fault---basically--all i am saying--is it is very easy for people like me to go in overdraft(due to spending habits)--and there is a part of the bank to decept and play with dates of transactions and deposits to put you in overdraft---i am saying i learned how to avoid this even being not as well off as i am and hopefully other people may try and see-if you read the tips ou will know what i am saying---in terms of the nsf fee--again--how hard would it have been to say don't pay the bill---and again i had a question--what is the cost to the bank??--is there truly a cost for the transactions---i would figure they have people there(that they pay anyway) to process these transactions-but i do not know the tru nature of how it works-i am just saying it would not have been hard to so don't pay the bill if it can't be covered-------and by the way---f**k the bank defenders--everyhting is easy in there perfect lives with money to cover things

Trust me, for the most part I am on your side. But you make it hard to defend you and I will tell you why. Because you are blaming the bank because you can't seem to be able to keep track of your spending. You are making it too easy for the cruel bank defenders to discredit you.

When the bank defenders say things like "if you don't overdraft, you won't have any overdraft fees" they are correct to an extent. You see the problems you are having, is not all the banks fault.

Yes the bank online statement is a JOKE...no doubt. And no doubt it is intentionally designed to fool some customers into spending what they do not have, and that is being looked into.

The changes that will be going into effect, and the subject matter of the lawsuits..have to due with DEBIT card usage at a point of sale and an ATM, where the FDIC report concluded is where most have been victim to the banks tactics.

You still will get an NSF fee for bouncing checks, and you still will get an NSF fee for auto bill pay,which is ACH.

What the changes are going to do, is prevent the bank from non disclosure, giving every customer the opportunity to opt out of overdraft protection. This means if your register does no coincide with the online statement..you will be PROTECTED from an overdraft fee if the account can not cover the debit card transaction. Hence, when the bank manipulates the transactions, it won't matter, they will no longer be allowed to fee you for transactions that had the funds..since the card will not work if the transaction will overdraft the account. Chase no longer re-sequences debit card transactions, so even if you choose to opt in, you will only be charge a fee for legitimate overdrafts, not ones concocted by bank manipulations. Fair is fair.

The bank is not supposed to babysit your spending habits..but it is also not supposed to automatically enroll every customer into a service undisclosed, and then re-sequence the times of transactions in order to charge fees unjustly.

However, if your account can not cover an auto bill pay or a check payment..you are getting an NSF fee..nothing can prevent that. What I told you on another post holds true....IF the auto pay was untimely, unauthorized, fraud or error, you can dispute it as always was the case. But if an auto bill pay goes though and it is legitimate, it is in all fairness the CUSTOMERS responsibility to make sure the account can cover it. Fairness works both ways, the bank is not going to do all things your way...they are however going to have to play fair as well..an abide by the law and regulations set forth by the Feds. If they are doing anything wrong, it will only end them up in another class action lawsuit, I am sure they are getting sick of those.

I am not going to take the bait this time..I have said more then my part and it is all 100% truth based on fact as evident by the thousands of complaints on this website alone, the law changes, the law suits, and the current economic conditions..

But there is one thing you said I would like to respond to...

"Banks at one time were a bit more "forgiving", unfortunatly a certain percentage of their customers took advantage of this."

Uhhh.."customers" taking advantage? You mean to say the banks have not been taking advantage?

Look at the numbers from the FDIC report...what really changed since 2007? Did customers suddenly get the urge to spend more then they have with intent? Did customer irresponsibility just suddenly start to DOUBLE in numbers every year by coincidence? Or is there a chance the banks found a way to take advantage of those struggling to keep a positive balance..and those that make honest mistakes...?

Here are the numbers in case you forgot...

"In 2007, banks collected more than $17 billion in overdraft fees. That number nearly doubled in 2008, as more and more consumers struggled to maintain positive checking account balances. In 2009, banks are expected to bring in up to $40 billion in overdraft charges from nearly 50 million customers."

I understand it is just in the nature of some bank defenders to be mean spirited scrooges, and place ALL the blame on the "deadbeat irresponsible 50 million customers" who incurred overdraft fees..but tell us Robert....tell us..when would it have been enough before some changes were required by other then the victims? Tell us Robert...would you have seen the victims side if it was 25% of all banking customers? 30%? 50%?

Well considering the number has been essentially doubling since 2007..perhaps it would have been that many customers in a few years. Would that have made you feel any better? Would that have made you think a little more before you devote your life to defending the attack against the elderly, poor and very young that according to the FDIC report..HAVE been disproportionately effected? No matter how you attempt to twist the facts in bank defender fashion...you can not escape the obvious truth. It is exposed Robert, and has been for some time.

while i admit--in some cases it is a matter of personal responsibilty---but again--when you have no money--personal responsibilty is hard----for those who keep saying personal responsibilty--you have money and do not worry about overdraft-so don't comment we poor people who get overdraft fees are not responsible---so here is the last tip--i mentioned 3 in a previous posts---now i know this sucks---but we have to wait for the bank to do what they do---we must abide by the banks schgedule of debits and credits--not ours---there has been sometimes--i made a charge days before--and it would not show up--i honestly think they are waiting for me to charge something else--then out of nowhere process that charge to put you in overdraft--most charges should take a day---but sometimes they will wait 5--again--they play with the dates to reflect you went into overdraft--even if your deposits are more than your debits--there has been times where i had money in the bank--and iyt would show a positive balance--then i get a overdraft charge---then after the overdraft charge is the charge---and that overdraft charge would put me in a negative balance--and then charge another overdraft--it also seems like you can't get just one charge--but multiple charges ata  time----again---they play with the dates of your transactions and the best thing to do is make sure your debits are processed before you spend money--again--we got to live by the banks schedule---so #1-wait for the bank to finish processing before you spend again(which is kind of f***** up huh)--and #2--never try to get your exact amounts----NEVER could my numbers and the banks #'s ever match--somehow using whole numbers they do now-sort of--besides-most banks don't sneak money out of your account--they rip you off with these overdrraft fees and nsf fees--and who knows what else

'THE CONTROVERSY OF ZION'.

You Jimmy baby is the one who needs to stay off the keyboard and grow up. Your the one who is the fool with your rude comments. Do us all a favor stay off of here.

by the way--all this poster was saying is he admitted f'n up with 1 overdraft fee--this does not seem to be his problem---his problem is he is old and is on a fixed income being he gets paid whenever they give him SS or whatver else-monthly??--with his situation he is pissed that they are charging him $30 per day for his 1 mistake(he is probably in negative)--he can't just go to work i guess and get money to get paid at the end of the week to deposit--he has to wait and all the while they charge him--that is his complaint and that is a rip off---but in all honesty--what is the cost of the bank??--is there truly a cost for his balance in negative to justify these fees--even if the amount is not much---i can understand if you overdraft 1000's or even 100's of dollars--but from waht i seen--they will charge you this for a negative balance of 5 f'n $'s---------also it seems these people that keep spouting about personal responsibilty this may never have happened to them cause they have money in the bank--but when you have no money--it is easy to go into overdraft---let alone if they play with the dates of your transactions--magically when they do this you are in overdraft---it is unfortanate but we cannot live our lives and go by the banks schedule--we have to wait for them to clear deposits and debits--we can't debit after a deposit is made--from my experience---you can have say 10$ in your account on friday the 1st--spend 5$ on friday the first(which would gve you 5$)-make a deposit on the 2nd for 300$(payday)--see your deposit on the 3rd in your account--spend 6$---which should give you 299$(as reflected on both balnces-ledger and avaliable)suddenly--when you look on the computer on the 6th the information changed--and your deposit is not actually deposited until the 5TH and that charge you made for 6$ on the 3rd shows up on the 4th leaving you with an overdraft of 1$-and they charge you 30$-----this has happened to me many times--but for me--i would have 15$--spend 2 here-4 there 3 here---next thing you know--i am getting 120 overdraft for 4 charges that totaled around 10$----the bank plays with the dates to reflect there convience-there convience?---to charge overdraft so the top exec's could take home millions in bonuses--refer to my last post on this thread

as someone who has had a bank charge overdraft fees many times--sometimes 120$ for a total of 4 transactions equalling 6$!!!!--as another user here posted-it does seem a little funny how banks play with your numbers--when you know you make a deposit-that means the money should be there!--it always seemed funny to me that you can look at your balance on the computer and it will show 1 thing--and magically--something you did many days before will appear leaving you in overdraft--now again--i realized most of my problem was due to the usage of my atm card--buying $2 here-5$ there which made many transactions to keep up with--i do not care what anyone says--the banks will play with the dates of these transactions and when they go through--you may have money on 1 date but not the other--they always switch to the day when you had no money right before you get paid--anyway--so for 1-don't use your debit card--i only use it for gas and atm--this leaves me with roughly 2 tranactions--then i have my monthly bills-rent,car insurance,electric--i drastically cut down on the number of transactions!!--even when doing this i still got charged overdraft once or twice based every so often again playing with the dates of transactions and knowing i made deposits thinking the money is in the bank--i realized further action was needed to trick the bank to not charging me--#2-always minus more than you spend--i also use my atm for food shopping--if the bill is 22$--i minus 25$--i never again try to get the exact amounts--i always minus the more and i use these whole numbers--so it always shows according to my records i have less money and the bank shows i have more than i thought i had!!--every so often when i see a 20$ difference i balance it out--after ALL transactions have cleared and nothing is pending!!--then i start over again--with this sytem--i have not been charged overdraft in more than a year--i trick the bank!!!-----------but now here is the real rip off story--i have an account at wachovia--i was unemployed at the time(this wa 6 months ago)---i really had no money--i had a total of 10$ in the bank(i will never have a savings account-not worth it to get less than a dollar interest for 1000$)--so anyway i had 10$ and i knew a automatic charge from net zero was coming-by the way--don't sign up for automatic enrollment-they always seem to charge at the wrong time--so i knew this charge was coming--i called net zero and asked if they can wait 2 days after to make the charge and they said they could not cause it's automatic--sure enough--they tried to charge the account for 12$ when i had 10$--instead of overdraft-the bank decided to charge me a NSF fee for 30$ which brought my balance to -20$--so they basically charged me money cause i didn't have money in the bank to cover the charge--how hard would it have been to say-there is no money-don't approve the charge!!!-at least overdraft they pay the charge--with these laws with overdraft now--it may stop overdraft fees for those who opt out--but they will make it up with these NSF fees--basically the NSF will be a backdoor Overdraft and they will not pay the charge!!-poor people beware-there will be a new way to rob in town!!!--and again--if you have not much money to work with--you must be extra extra careful what you do--it is very easy for people like me to go into overdraft--and i think they play with the dates of transactions to reflect that you went into overdraft--again--i's not hard when you have no money--you are not backed up by 1000$ if you make a 5$ purchase on debit!!---we keep hearing about bankers making these huge bonuses exc exc--you know where they get there bonuses-overdraft fees--all the banks combined--how much in overdraft fees have they collected--i read somewhee in the figure of 18 billion yearly--basically--they are robbing from the poor---so again--#1-don't use debit card/lower the # of transactions(they rely on this which is why they have the "keep the change programs" to encourage you to use it)--#2-overstate your transactions-and #3--try to avoid automatic debits---there was a time a couple years ago virtually every single week i got paid i had multiple overdraft fees---have not had any fees in more than a year(except for this nsf fee 6 months ago)outsmart the bankers!!!!

I'm really impressed Leonard!

I don't work for ANY bank!

I do work and advocate people learn responsibility for their financial affairs which includes keeping proper records of your bank transactions and busting your a-- to get out of being a subprime credit risk and changing that to being a PRIME credit risk!

But I don't suspect you don't understand any of that.  You'd rather blame the bank rather than be responsible and mature!

So Leo Baby, looks like YOU need to grow up!  The really neat thing is YOU don't need to continue being a subprime thinker...you too can advance!

SHALOM!!!

(Oh yes, its best to stay away from the keyboard, you've already made too much of a fool out of yourself!)

Jim, Jim,Jim,

You are nothing more than a USBANK employee. Stop being a fool and posting rebuttal's like this. Grow up.

I have been in this person's shoe's before and am sick and tired of this corupt bank charging people overdraft fee's on small amounts and ripping them off. That's why I have closed my accounts with USBANK and switched to a better bank..

Oops.. there's a typo in my last post. I meant to say "your" charges. Sorry folks, my PC is starting to lag a bit. Time to get a new one.

Call the bank to discuss you "frogelent" charges. Ribbet ribbet!

Robert wrote:

"You know advise like to make sure that they keep an accurate register.  Or even in the case of US Bank letting them know that US Bank offers an "Advance".  Where the person can get an advance of up to $500, and they charge a one-time fee of $2 per $20.  They then give you 35 days to "make good".  It's not free, but a lot cheaper than the other fees."

US Bank does offer an advance and it does indeed cost $2 for every $20 borrowed. However, I think that advance is only for people with direct deposit. If someone takes an advance it will be immediately paid off when their next direct deposit comes in. The bank also limits how long you can take out these advances to nine consecutive months out of a year (or something similar to that).

That works out to an APR of 120% but it's certainly better than paying overdraft fees.

Now unlike some others here, I believe the banks should be a little more forgiving of honest mistakes.

- Again there is a difference between what you feel and reality.  I guess I am part of the "others".  I don't like these fees either, But I(and others) feel that it is best to not even put yourself into this situation in the first place.

Banks at one time were a bit more "forgiving", unfortunatly a certain percentage of their customers took advantage of this.  But let us say we have someone who does not manage their account and forgets to write down a transaction, now in your mind that would be an "honest" mistake.  Now we have a person who knows they don't have the money in their account and still makes the transaction knowing that they will get fees.  Lets also say that everything else is equal, that is account history, balance and amounts of the transactions.  Please tell us how the bank knows the difference between the "honest mistake" and the person who is intentionally overdrafting their account if they both complain to the bank to try and get the fees refunded.

but most banks do not charge that kind of fee per day and most will give you more time to make good

- This fee is unfortunate but most banks are now starting to have this fee.  US bank gives them 4 Calender days to "make good", this is about standard with any bank that does assess this fee.

Yes I said it..YOU are a prime TARGET. Most of these types of fees are paid by the poor, the elderly, and the very young..since those are the demographic that are more apt to have a low balance..and/or make a mistake

- Are we going to go through this AGAIN.  Remember the report that YOU were quoting.  It has nothing to do with age, or financial status, but how they manage their accounts.

"Most people paying these fees have a credit score below 590 or so," Moebs said. "Beyond that, they're a whole gamut of people: rich and poor, men and women."

http://money.cnn.com/2009/08/10/news/companies/bank_overdraft_fees_Moebs/

I also noticed that(as usual) no advise was given on HOW the poster can avoid these fees in the future.  Instead a majority of your comments were just playing into what they want to hear.  That is unless you consider So for your own good try not to make any more mistakes helpful advise.

You know advise like to make sure that they keep an accurate register.  Or even in the case of US Bank letting them know that US Bank offers an "Advance".  Where the person can get an advance of up to $500, and they charge a one-time fee of $2 per $20.  They then give you 35 days to "make good".  It's not free, but a lot cheaper than the other fees.

"The USBANKS charged me $37.50 for a mistake i made in my checking account..." (sic)

These are your own words. So, where is the ripoff, Mr. Senior Citizen?

can be 'Googled'.

and you had every right to report it here.

Now correct, you admit to a mistake which apparently overdrew the account. But the bank is treating you like a criminal with all those charges.

Playing devils advocate, I can understand why the bank charges fees for each day until a deposit is made to cover the overdraft. For example...lets say this bank allows $400.00 in overdraft fees they will cover until they do what they actually should do even if the account is over by a penny if it can cause a fee..which is simply decline the transaction. But lets say for example a checking account customer did this with intent to get a $400.00 "loan". What the customer could do is simply go to an ATM, and withdraw $400.00 more then they have available, and the bank would pay it out. If the bank did not charge a fee per day, the customer could technically take all the time they wanted before making good with a deposit..and then the bank would not be making as much "interest" so to speak if they only charged the one fee.

Now unlike some others here, I believe the banks should be a little more forgiving of honest mistakes. If I were you I would consider another bank that has more fair policies. Now all banks are going to charge an overdraft fee if the account is overdrafted..fair is fair, but most banks do not charge that kind of fee per day and most will give you more time to make good. As well if you do not have a history of overdrafting, most banks will give at least part of the fees back if you are persistent with them so do not be afraid to hassle the bank to recover some of the fees.

I will warn you that you being a senior on a fixed income makes you a PRIME target for being fee'ed into the poorhouse. Yes I said it..YOU are a prime TARGET. Most of these types of fees are paid by the poor, the elderly, and the very young..since those are the demographic that are more apt to have a low balance..and/or make a mistake. And these fees have become the new "profit center" for many banks as it seems obvious they have failed in any attempt to survive by what they are supposed to be in business to do ,which is..fair lending. However, the 6,7 and even 8 digit bonuses are handed out to the bank officers and CEOs..rewarding failure is apparently acceptable for the very rich and powerful.

So for your own good try not to make any more mistakes.

Well, I'm sorry that you got a fee. However, you admitted fault, so I'm afraid you'll just have to deal with it. Perhaps your next investment should be a spelling/grammar checker for your PC.

I keep a total and separate ledger of my checking account.  US BANK plays around and let me tell you I have a lot of transactions I do the exact same way every month.  They go on fine and the suddenly one gets charged an over draft fee when I have a cash deposit made at 9 am but it is pending?  It is a ripoff and you could speak to 3 different people at the company and you will get 3 different lines of BS.  I totally understand what he is saying.

FINANCIALLY INJURE AS MANY INNOCENT AMERICANS AS POSSIBLE, in my opinion.

Who ran up the overdraft fees?  Who kept using an account WITHOUT HAVING ANY CLUE of the balance? 

Ripoff?  What is a ripoff is people who cannot or will not keep accurate records.