U.S. bank is ripping me off!!!!!!!!
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| Tue, 08-16-2005 - 9:09am |
I am so mad!!!! I have been working so hard to keep my overdraft protection from being used, i used to use it as a crutch all the time until it was up to like over $2000 on there , i paid if off and haven't used it in months.... and have been so careful. So friday night i put some checks in the bank, using the atm depository and i was able to look online and it said that money was in my act yesterday. Then this morning i look and they put $100 on my overdraft, even though there was money in my act. My mortgage was paid which is over $1000. So i called and she said that the checks didn't clear until monday night and so they had to cover the mortgage which was paid monday night. She said even though it shows the money is in there online for me it's not really in there yet. What the heck?????? I swear they do this intentionally so they can make money!!!!!! Because then they make 3% of what they transferred and also interest on the balance, when i had that $2000 on there before, the interest was like $50 a month!!!!!! Is this how it is with all banks, that they can wait that long to clear a check????? I really think it is time for me to switch. Does anyone else have a great bank they can tell me about?????
Thanks for letting me vent!
Shannon

Ugh.
If there are any smaller local banks left in your area, I recommend checking into them.
About a year ago, I bounced a check. I was like, $3 short in my account. I made a deposit that day, but my bank is very clear on "Deposits made after 2pm will be credited to your account on the next business day."
By rights, I had indeed bounced a check, I dont pay for overdraft protection..so basically I could have been facing all sorts of returned check fees, or the $25 overdraft fee.
My bank caught that it was a small amount and that my account was back in black the next day, and took care of it all at no cost to me....before I even knew I'd bounced the check!
At a smaller bank I would recommend going in and talking to the teller, saying you thought you were OK, etc, and seeing if they could help you out. but I dont know how lenient US Bank can be. :(
Incidently, most banks do have a cutoff during the day of when deposits will go into your account. If you deposit it thru the ATM, its usually longer, also. I know at my bank, when I call the hotline, I will hear the post-deposit balance immediately, but then, if I actually listen to my transaction history, the deposit will be in the "pending" section. I imagine that same thing happens online for you. they are telling you what your balance will be...
On the same token, I will often have debit card purchases that are listed as pending for several days before they are ACTUALLY withdrawn....a fact that has saved me more than once! :)
~Teresa
Teresa
http://www.affordingpickles.blogspot.com
I hate banks for this reason. DH get's his checks direct deposited on a Friday. So Friday morning they money shows deposited, but my acct balance is not reflected. If I was to do other transactions that day, say use my atm card that transaction goes below the DD so would show my acct with an overdrawn balance. They don't charge fees, but it still makes me mad.
I also would reccomend a smaller bank or even a credit union. They will usually work with you.
Nicola
Just a thought:
My husband always goes to the bank on Friday w/ his paycheck and CASHES it inside. Then he goes to the drive-thru, and deposits it (or most of it). CASH is reflected immediately. CHECKS take a few days to clear. ;)
Works for us!
Jennifer
I'd actually call the manager and talk to him/her -- if the checks were credited to your account Monday night -- they should have been credited before any checks were debited -- so I think you should be able to get the charges reversed. And it is true, banks do have various times that they have for cut offs on crediting deposits -- but if they actually did credit it on Monday, the money should have been there before the debit. ASK about it.
Good luck.
Megan
Or he could save himself some time and just ask the teller to deposit the check as "cash".
(Usually not a problem unless your account is always overdrawn, your paycheck bounces, or your husband seems a little shady.)
Shannon
Shannon
That is SO annoying, Shannon! The banks can be so infuriating. I also would recommend looking into a local bank or, better yet, a credit union if you're eligible for one. You generally get much better service through a credit union. If you have access to USAA, I HIGHLY recommend them. You have to be military, a military dependent, or married to a member, to become a member, but once you're a member, you're a member for life. My dad was air force, so even though I'm not a dependent, I'm a member. My husband got to join because I'm a member. Anyway, they are amazing.
If you don't have access to a credit union, check into RBC Centura, if you have it in your area. They're a large bank, but we have banked with them for seven years and have always had outstanding service, even when we were struggling financially. They are quick to refund fees when a mistake has been made, or even just because we request it. They just always go out of their way to offer us outstanding service. They don't have as many ATMs as the big banks, but we've found their excellent service to be a big enough payoff not to worry about it.
Anyway, I'm sorry you're facing this. I second the suggestion to call and ask to speak with a manager. You're a good customer, they should be bending over backwards to please you.
Good luck, and blessings,
Heather
Hi Shannon - sorry to hear it.
All my best,
Danni
My bank caught that it was a small amount and that my account was back in black the next day, and took care of it all at no cost to me....before I even knew I'd bounced the check!
I have a local bank too and they've done that for me also--but just once. Bounce one again and I bet they won't cover it. I think they do it as a one time courtesy unless you're with a CU as they are a little more "friendly"