Good Thing I Checked -- Part 2

Avatar for colomom99
iVillage Member
Registered: 03-28-2003
Good Thing I Checked -- Part 2
2
Mon, 01-25-2010 - 12:31pm

Last week I posted that I had discovered the my credit union that handles my car loan had failed to credit a payment a year ago and had been charging me $15 late fees for a solid year without my knowledge even though I was not only not late but had been paying extrta to the principle. They ultimately fixed it and reiumbursed all the late fees. Today I checked my checking account with them and it said I was $250 overdrawn. I hit the roof.

I started this new thing last week where I totalled all the bills I needed to pay before the end of the month and wrote one $750 to my credit union account out of our regular checking account. My plan was to pay all bills out of the smaller account so I could get a better sense of how much had to work with minus the bills. But noooooo, the credit union held the $750 check and when three checks hit today they bounced them all to the tune of $29 OD fees each. I called and complained (loudly) and they reversed the fees and said they were not returning any of the checks. They said their new policy is to hold all deposits for 7 to 10 days even if they are local. Again I went nuts and reminded them they not only had just screwed up my car loan but that we had been banking with them for more than 10 years and I would close all accounts in a heartbeat. They back pedaled and said I could get instant access if I had the branch I use fax deposits to main branch.
Blahblahblah. I think they count on people not checking their accounts everday. I would've been so screwed if I hadn't.

And they wonder why people are pissed at the banking industry....

iVillage Member
Registered: 10-28-2006
Mon, 01-25-2010 - 12:41pm
Yikes! That could have been a huge mess....glad you caught it!

iVillage Member
Registered: 10-01-2008
Mon, 01-25-2010 - 2:47pm

There are laws in the banking industry about how long they can hold local checks.

Norma


"Patience is the best remedy for every trouble"- Plautus