My story of overdraft fees

**Frugal Nurse** · 05-05-2008, 08:41 PM

okay... so I admit it.
I bounced some checks.
Who can I blame?
(but myself)

That was about 4 months ago... but I've been thinking.....

I noticed a few things.
1. the bank seemed to have 'held' all my checks for deposit on Wed- the day before I get paid (auto deposit). Coincidence? See if you notice a pattern with your checking account.
2. On that one day and only that day (Wed)... my balance was not sufficient to cover all the checks and atm withdrawals. (my fault)
3. My bank first 'cashed' the largest check of $750 and bounced the 7 other $1 - $20 debits/checks. (yes! a $1.25 coffee... cost me $31.25!!! Worse! the coffee shop didn't ring up my muffin... I caught them at it.. and had them charge me for the muffin... CHA-CHING! $31.25 + $30 + 1.50= @%#*!!)
4. They didn't really 'bounce' them- so much.. I mean.. they paid it all... just charged me. (this is important for my later argument)
5. I HAD sufficient funds to cover the seven small charges and was shy about $100 for the large check. Soooooo... how about bouncing the ONE $750 check and charge me ONCE!
6. Oh NOOOOO!! they charge me SEVEN TIMES Thirty Dollars!

I call the bank... 'what's up with this? I had enough for all the little charges... but instead you put the LARGE check through to make it look like I didn't have enough for ANYTHING."
wanna know what they said?
"we assume that you wanted the large check to go through, because generally it is the rent check."

Me:
"Yes.... I want you to charge me 7 little fees at thirty freak'n dollars each so you can pay my non-existant rent check. And... what does it matter?... you PAY the check through ANYWAY! it's not being returned... so you're theory doesn't hold any ground" "And.. also, if I didn't have the funds... why are you allowing the charges to go through? shouldn't the swipes be 'denied'?"

Oh.. BTW. Losing battle. They've got you coming and going.

My oldest daughter has abandoned the banking system all together. No bank fees... no overdraws... no hassles. Doesn't that sound like a great commercial!

**dolphin** · 05-05-2008, 09:04 PM

I bank with Bank of America and it's the same with me.

I can't keep up with them!

My oldest daughter has abandoned the banking system all together. No bank fees... no overdraws... no hassles. Doesn't that sound like a great commercial!

We're going to do this. Just have one of those accounts where they charge you $10.00 a month and there is no way to "overdraw".

Yep, you overdrafted but the bank in no way helped you to prevent overcharges. You might try to go "into" your bank personnaly and speak to an agent. I've gotten them to reduce as much as $75.00 in overdraft fees by doing that. Don't bother trying to get a telephone assistant to do that, they won't but "in person" they sometimes do. Plead your case and usually they will relent 'some'.

I hate banks!

**bumplett** · 05-05-2008, 09:11 PM

(((where's that big hug smilie??)))

I'd agree with (calmly) walking into the bank to speak with a manager.

Better to ask and have the answer be no, than to not ask at all.

**dianne9106** · 05-05-2008, 09:19 PM

That is yet another outstanding thing I can say for our bank - USAA. I have heard of these dirty underhanded practices from banks and it is AWFUL!! Perhaps you should find a different bank and go with them

I know it's a hassle to move all of your banking and direct deposits but if it saves you in overdraft fees - I would go for it. The overdraft fees are a rip off! Do you think it cost the bank $30 to pay someone to send your "payment through"? I mean why charge you the full amount if they are paying it? Why not just half? It's not like they had to call the merchant or send it back?? I am with you honey - I have been there and done that!

Big hugs to you and look around for something better - you can't save money like that!
Dianne

**dianne9106** · 05-05-2008, 09:21 PM

Sorry - I couldn't edit - I was saying that USAA does not treat their customers like that - but some banks do and it's pretty common. Sorry

**dancar3** · 05-05-2008, 09:51 PM

I've had that happen to me in the past too where they pay the bigger checks first and then they pay the smaller ones last. Their reply always was they processed them in no particular way........it just always worked out that way, huh? Yeah whatever! Either my dh or I would go into our local bank and talk with them and they had taken the fees off. You really might consider trying that too.

**kettlecorn** · 05-06-2008, 12:12 AM

Yes I have had the same problem with our bank-we use Regions. There is even a website dedicated to people having the same problem www.badregions.com, not sure if that may be who you bank with but there may be one out there like it for your bank.

**Jeanna** · 05-06-2008, 08:57 AM

I am going through the same problem right now with my bank. I reserved 2 hotel rooms for the end of June in Atlanta with my debt card. Unaware that I was going through a second party (always read the fine print) and because of this they charged my account now instead of when we checked in. So they took nearly $300 out that I did not have so I bounced 5 checks. Which this is not the banks fault . Luckily I bank with the State Employees credit union so the return check charges on their end wasn't but $12 a check, however I have paid $58 dollars so far on the other end and I still have 2 to settle. My husband has limited the checking account and is keeping a tight reign on the money. I now get no more than I need at a time and have to tell him what I need it for and how much for each thing. Some would be mad, but I did make a mistake and it is not the first time so I am ok with it for awhile. Anyway, bouncing checks stink.

**halloweenfreak** · 05-06-2008, 04:28 PM

argh, i hate that. ive only bounced a few times, but everytime i have its been because of a large charge and not the small ones.

**vigilant20** · 05-06-2008, 04:35 PM

I'll second going in and talking to a real person. I did that with my bank a couple years ago and they dropped the charges "this time only". Especially in your situation that should work, or at least they could agree to only charge the overdraft for the one large check that made you go over.

**annertak** · 05-08-2008, 11:47 AM

I've also been told at the bank that they process the checks before the deposits, so theoretically, you could bounce checks even if you have made a deposit the same day!

**knotme** · 05-08-2008, 12:05 PM

DD got charged an overdraft charge because they processed the cheque before crediting the deposit. Expensive lesson learned. she will never do that again.

We had this happen to us a few years back when DH's cheque from his emplyer bounced and we got caught with overdrafts, not knowing that the deposit cheque was bad.

He changed jobs shortly after that happened.

**tammy88** · 05-08-2008, 12:22 PM

im with wachovia and they have gotten every which way they can and i dont take it lying down 90% time i have gotten all my money back i just talk to someone at the customer care center until i get it back...

they are just ripping people off..

**frugalfriend** · 05-08-2008, 01:11 PM

Sorry, that stinks!!

I agree with a previous post, you should only be charged ONE fee, and ask them to take off all the others!! They may do it this one time.

**Momto2Boyz** · 05-08-2008, 03:20 PM

If you haven't tried one already, I would suggest trying a credit union if you have a public one locally. I worked at a credit union for 7 years as a teller and loan officer, and I can tell you that becuase they are smaller, they care a little bit more about keeping each and everyone of their customers.

They are waaaaaay more likely to remove fees than banks are. Most of the time it is up to the teller or supervisor, if they like you, they can remove a fee, they don't have to go all the way to management like the banks do. Plus, it never hurts to make friends with your tellers. I spent many mornings, calling people who I knew (basically, my customers who were nice to me and made the extra effort to remember my name, as I did theirs) letting them know that they had checks coming through and that they were going to bounce.

They should have put the small ones through first though...we had that problem with our last bank. I finally threatened to close my account, and they reversed some of the fees (we were so fed up with them already). So what happened, they reversed the fees and I closed my account anyways right there on the spot! Did it hurt them? No, but it sure felt good on my end!