Prolapsed vent - am I getting it right?

[Angels4]

I have on-line banking through my bank here in the States. I won't mention any names but their initials are BofA......I was just checking my account on-line after my recent trip to Delaware for work. Whilst in Delaware I made some purchases for family and friends. Understand I don't keep a check register, but I ALWAYS check my account on-line before the start of the day (for my available balance) Sure there are frequently some pending transactions, but the balance is always kept current (to include any pending).

 

Imagine my suprise today when I cheked my account and found I was overdrawn by $300.00 with a total of 9 (yes 9) $35.00 overdraft fees. I will admit my math skills are not stellar, but when I see an available balnce written in black/white on the banks web, it means there are the available funds to make a purchase. I've just gotten off the phone with a nice (sic) young lady who has explained to me that all the OD fees are legit and the bank wouldn't be crediting my account. Although she did admit, the information on my on-line banking was decieving........I think I'll be changing banks in the very near future, but what a bother, this is where my payroll gets electronically deposited and where ALL my bills are paid (again electronically) It's a BIG GIANT SCAM!!

[Egluntyne]

Bad luck. I think it is pretty similar over here.

 

I'm guessing that this is how they fund the payment of massive bonuses to the CEO's.

[Chickvic]

How annoying Egluntine is right - it's the same here.

[Ain't Nobody Here]

How infuriating . How have they justified 9 fees ?

 

I never knowingly go overdrawn either but when I once did by accident I grovelled and pointed out that it was the first time, blah blah blah, and they waived the fee . Worth a try? You should get a different person if you phone again .

[jlo]

How infuriating . How have they justified 9 fees ?

 

I never knowingly go overdrawn either but when I once did by accident I grovelled and pointed out that it was the first time, blah blah blah, and they waived the fee . Worth a try? You should get a different person if you phone again .

 

I agree that this would be worth a try - especially if you have been a customer for some time. It is outrageous though!

[..lay a little egg for me]

I've noticed that the available amount does not seem to match with the actual amount in the account so I assumed they meant how much you can take out as an unarranged overdraft...

[Patricia W]

The Office of Fair Trading has had a go at our banks/ credit card companies on unfair fees. I think that you can challenge anything over £12.

 

There was an article on TV last week about one guy who had done this and won. He then charged the bank/credit card company the same rate of interest that he had been charged and turned the few hundred into thousands! The advice was to challenge them.

 

Don't know if anyone knows anymore about this?

 

Tricia

[Tiggy]

there is a web site called money matters, you can download letters to be personalised to send to your bank, the last time I looked it was talking about a deadline - some banks also force you to close your account if you challenge them, if thats how they behave I dont think that I would want to do business with them anyhow.

[Angels4]

How infuriating . How have they justified 9 fees ?

 

I never knowingly go overdrawn either but when I once did by accident I grovelled and pointed out that it was the first time, blah blah blah, and they waived the fee . Worth a try? You should get a different person if you phone again .

 

I will try to get a different person on the phone today. I want to remain positive that the bank will reverse some of the charges. Like yourself, I would never knowingly go overdrawn, from what I was seeing on their own web, was that the funds were there (I don't write checks so it isn't a matter of a check being processed). The only explanation the lady on the phone gave yesterday was the fees were justified because I should keep a check register.

It is nice to know that it isn't just the banks here that seem to use these fees to bankroll their executives, but it still isn't right. Just because they can, doesn't mean they should.