Bank BULLSHIT! Is this Right?

[chnco]

Well, I made a deposit about a week ago. It was cash and a few checks. Checks were posted to my account on that same day because it was before 2. It was a personal check from a different bank, so I figure it would have took a few days, but it didn't, it posted that night. A few days later, the check RETURNS! I'm like, WTF, it already posted to my account and I doubled checked my balance to make sure!!

I spent on my debit card since I thought I had money in my account. Now the bank is charging another $150 in "insufficient funds charges" because I used my debit card. The card never declined, they just let me keep charging and keep racking up fees.

Is this right!?! I'm pretty fucking pissed off.

[Kevykev]

Bank's Fault for Posting the check

Dispute that definately...Get them to reverse the Fees...

Punch the owner of that bad check in the face.

[B16a2 Civic]

i used to work for a bank...to be honest they should have not went through because w/ check cards they check to see if you have the funds...approve the transaction then within 3 buisness transmit the funds...but during those 3 buisness days the hold the money in your acct to make it seem like you have paid them already which actually hasn't happened yet....like lets say you have 50 dollars...you spend 40 on somethin....the next day you try to spend 15, it should decline because they are holdin 40 dollars out your acct....i would probably talk to a bank official to have those fee's waived...cause they can be waived, i waived a few when i did work there

[Marta Mike]

Not true. My bank card lets me overdraw on purchases all the time. I had a situation similar where funds were not deposited, i showed them the reciept of the depost and they credited the money immediately to my account and took off the overdraft fees.

[B16a2 Civic]

well yeah, they withdraw at times, no system is perfect, like you can pump as much gas as you want as long as you have 1 dollar in your acct and alot of times, some funds take longer to clear, also if you make 2 purchaes close together, they dont have time to subtract that money so thats a way you can overdraw, i seen alot of situations like that

[chnco]

the thing is, the check posted to my account. It wasn't pending, it was posted already. I would assume also that my card would have declined.

What did you have to show them? Deposit slip?

[Jaimecbr900]

Are you sure the charges don't stem from the check bouncing rather than checkcard overdraft fees? In other words, there was "money" in there whent he card transactions went thru the first time, but then the check bounced and they backed out the amount of the check plus the fees.

[Marta Mike]

yup, the deposit slip reciept they give u

[B16a2 Civic]

well....did you deposit the money on like a friday or saturday....because in that case the check shouldn't clear untill tuesday b/c it takes abuisness day to process, now i dun know if your bank worked like how mine did but if you made a deposit before 2:30 pm mon-thursday it would hit the acctount on the same day, after 2:30 it would it between midnight and 7 a.m

[chnco]

No, it is not returned check fees, I already got some of those from when the check returned.

These are "insufficient funds charges". I made sure I deposited before 2pm, as my bank post it the same day if it done before 2. It posted the same day, as I check my statement nightly. My debit card was never declined.

[B16a2 Civic]

call their customer service line and open up a file....they will research it for you and get back to you witha resolution...only suggest i have at this point, cause it sounds like a bank error

[chnco]

Just got back from the branch as well as talking with the regional manager.

SOUTHTRUST BANK IS GOING TO DO NOTHING.

The bank acknowledge that the deposit slip was wrong, and said that they'll give me $10 because of the wrong slip. I told them because the slip was wrong, they need to reimburse me. They said no. I thought the regional manager would be a little more understanding, but NO he was an absolute asshole.

[Dragonfly5338]

call their customer service line and move up the chain until you talk to someone that can do something about it.

[B16a2 Civic]

yuup, customer service will do a lil more....wish i had a evo.....

[chnco]

What banks are you guys with? I seriously about to go close my account. I have never overdrawn, never had a check return, and they basically told me there is nothing they can do about it and it's all my fault.

I mean, even if it was my fault (which it isn't) I would hope they would return it as a courtesy for a customer of 7 years.

[Dragonfly5338]

I'm with Southtrust.

Used to be with Bank of America, but they LOST one of my deposits, so la-de-da I'm paying bills and then see that my account is overdrawn 1400 dollars because they took my deposit out. Then I call them, they put the money back in, then three weeks later, take it out again. Now I'm in the hole 2000 dollars. I call them up, and they say "Sorry, nothing we can do. We're considering it not a bank error."

Banks, in general, all suck nads.

[B16a2 Civic]

i worked for Columbus bank and Trust ( a bank here ) and i bank with Wachovia and i have a loan through TIC Credit Union....but fa real .....the people at the bank can never do anything, you defintly have to call the customer service line, speak to a lead, supervisor, call center manager, whoever....if this was their fault, they need to help you with it, i would also mention the regional manager was no help at all

[chnco]

Here's a rundown of exactly what happened

I make deposit. Deposit slip is WRONG. Says wrong amount and does not specify seperate section for cash and checks, only one large amount (I deposited 2 checks and some cash). Few days later, the 2 checks returned. The 2 checks (out of state, personal checks I might add. I don't know why they didn't hold it anyway) had already posted my account, it said money was available. Therefore, once they returned, a bunch of items were insufficient funds because I thought I had money in my account. Now they are charging me a bunch of fees because they had already posted the money in my account.

Am I wrong to think that this is wrong?

[B16a2 Civic]

well....technically since the 2 out of state checks did not clear....they could do that but the bank should still work with you, were these personal checks from people...if so i would be madd at them for giving you a check that they knew would bounce

[TKellarB]

I'm with Wachovia - I have multiple business and personal accounts with them. They post the money into your account even if the check has not technically cleared. It always takes 7-10 days to clear a check. If the check bounces or is turned down during the time frame, you are still responsible for your account and the funds in it. For this reason alone, if a client writes a large check that I cannot cover if it were to bounce, I don't write checks against it for two weeks.

Now with the introduction of Check 21, the check is converted into an e-check so it may move the process through faster, but I don't know the exact time frame.

[chnco]

keep in mind, the deposit slip I received were totally inaccurate.

My normal deposit slips normally specify a cash amount and then a check amount below that. Not only was it the wrong amount, but it did not have these 2 sections.

I could have assumed it was all deposited and posted at the same time because of the deposit slip. The branch manager was a total bitch and the regional manager was an asshole.

The branch manager told me LITERALLY "We're a bank, we're going to try and charge you a fees wherever we can find one". I told her that it was bad business ethics to say something like that and it would be more ethical to do what is in the best interest of the customer and the bank.

[TKellarB]

Well, it really doesn't matter if the total amount was correct.

But I do agree with you about the customer service -- I would yank all of my accounts if my bank treated me like that! They do have full authority to eat their own fees!

[chnco]

why would it not matter if it was incorrect??

[chnco]

I know at my bank I work for, we remove fees as a one time courtesy if applicable.

Like I said, I've been with the bank 7+ years (yes I had a savings account with them since I was little) and they are treating me like shit.

[TKellarB]

oh, sorry - I was under the impression that the total amount deposited was correct, but they just didn't specify what amount was cash and what amount was checks.

Regardless of the amount shown on the slip, the checks still take 7-10 days to clear. But as I mentioned above, they def. control the removal of the fees they are charging.

[ISAtlanta300]

When a check is small enough, they "hold it against your funds" and it may appear as "cleared" while it may not have cleared yet.

Let's say you deposit a $ 20 check. And your balance is $ 50.00 They "hold the check against your balance", meaning, that even if the check were to bounce, you have enough money to cover for the $ 20 check to your balance (assuing that you never "clear out" your account up to a zero balance).

Now if you deposited a $ 200 check, in the old days it would not show until some day later. Nowadays the "funds" would be available only if you have money to "hold it against you" . Like, if I have $ 1000 in my account, they would credit the $ 200 against it, assuming I don't blow $1000 in 3-4 days. If the check were to bounce, I would still have enough money to be "safe". Now if my balance was only $50.00, they will/ should not credit it until 3 -4 days later (or whatever time it takes to clear". It takes longer if it is 1. an out of state check and 2. drawn on a less, mainstream bank.

When checking your statement online, sometimes, deposits are put on "hold" and you can see that. It will have an asterix saying "These transactions occured on your account, but have not yet posted". It will show the amounts as "credit", but they are technically "not posted" yet. The exception is when it is cash, or a transfer from , say your savings.

SO what may have happened in your case is that you deposited the checks, and they "credited it against your balance". And then you went out to spend MORE than the deposit amount combined...the full amount and some. Thus causing an overdraft.

I believe though, that the bank acted in error. Cash would be available the same day, but checks should be "on hold' until it clears. If they make the money available, then it is not your fault. You HAD money in your account. THey had the choice not to make the funds available to you. I would also contact the check issuers and worse case scenario, tell them to send you a money order PLUS the fees for the bounced checks.

[Julio]

When a check is small enough, they "hold it against your funds" and it may appear as "cleared" while it may not have cleared yet.

Let's say you deposit a $ 20 check. And your balance is $ 50.00 They "hold the check against your balance", meaning, that even if the check were to bounce, you have enough money to cover for the $ 20 check to your balance (assuing that you never "clear out" your account up to a zero balance).

Now if you deposited a $ 200 check, in the old days it would not show until some day later. Nowadays the "funds" would be available only if you have money to "hold it against you" . Like, if I have $ 1000 in my account, they would credit the $ 200 against it, assuming I don't blow $1000 in 3-4 days. If the check were to bounce, I would still have enough money to be "safe". Now if my balance was only $50.00, they will/ should not credit it until 3 -4 days later (or whatever time it takes to clear". It takes longer if it is 1. an out of state check and 2. drawn on a less, mainstream bank.

When checking your statement online, sometimes, deposits are put on "hold" and you can see that. It will have an asterix saying "These transactions occured on your account, but have not yet posted". It will show the amounts as "credit", but they are technically "not posted" yet. The exception is when it is cash, or a transfer from , say your savings.

SO what may have happened in your case is that you deposited the checks, and they "credited it against your balance". And then you went out to spend MORE than the deposit amount combined...the full amount and some. Thus causing an overdraft.

I believe though, that the bank acted in error. Cash would be available the same day, but checks should be "on hold' until it clears. If they make the money available, then it is not your fault. You HAD money in your account. THey had the choice not to make the funds available to you. I would also contact the check issuers and worse case scenario, tell them to send you a money order PLUS the fees for the bounced checks.

There you go.

wachovia, Did this to me last year. I was given a personal check of 1500.00, It was posted to my account, No problem, I had a few bills coming through etc.
The date on the check that was given to me was expired. I was beeing charged like $400 in over draft fees etc. I called the person who gave me the check and told him his check was expired, He was shocked the checked was expired, He said I just got this checks last week from Amex etc.

So I called wachovia, went to a branch etc, They said theres nothing they can do, it was my fault and all this bullshit. I said ok.. While I was going through all this the person who wrote me the check called Amex and told them the story about the check he wrote was out of date, Amex did some investigation on the check and yes, they were send out already out of date.

So they payed my fees, called wachovia and guess what? Amex got there money back in wich they payed me to cover the fees.

Amex told Me that banks should always Check there dates on the checks by policy to make sure they are in date.
Amex said sometimes bank will do this totally on purpose.

So I said fuck wachovia and went to Suntrust. I always hated wachovia, So I was pissed when they bought out First Union.
And They are about to by out Southtrust so sucks.

But sometimes bank will rip you off.

[DJ XtRaK©]

wachovia is the way to go!

[chnco]

So do you think the bank acted in error by having the funds available to me?

If I had not deposited the cash with the checks, I would clearly not have enough to cover the checks

[iloveboost]

Most of the information everyone is giving you is incorrect. Bigger banks no longer "hold the check against your balance." The computer determines your usual deposits. So, if you deposit within your usual deposit range, there'd be no hold and the bank would assume the check was good since all of your other usual deposits have been good.

You assume full responsibility when you accept a check and deposit it into your account. This was diclosed when you opened your bank account in written form (all the paperwork given to you upon opening).

With Check21, checks will usually clear within 1-2 days at most.

Although it does suck, if you don't trust the check 100%, take the check to their bank, cash it, and then deposit it. That's the only 'safe' way of securely getting the funds unless you have a Cashier's Check or Money Order (certified funds).

[carrascopa]

ya dude banks suck! goo dluck with that

[chnco]

Any suggestions?

I also researched that they charged me fees on top of fees (check returned which incurred a small fee and then they threw a insufficient funds fee on top of that!)

[iloveboost]

Who do you bank with?

[chnco]

Southtrust/Wachovia

[JoeCoolinATL]

the thing is, the check posted to my account. It wasn't pending, it was posted already. I would assume also that my card would have declined.

What did you have to show them? Deposit slip?

call and complain
alot.
thats happened to me before when ive deposited peoples checks
one time was right before i went to mardi gras for a week. then that happened. i get back home going over banking stuff and bam. it has me down for 400$ in fees because it says 2 checks didnt go thru. i spent a ton at mardi gras assuming the money was in my account because the checks had already posted. i get home. somehow they "unposted" and after going to strip clubs and what not in new orleans come home. somehow i have 400$ in fees, i call up bank of america complain alot. somehow this time they checks are posted again. and they reversed the fees.

[max sittin on 19s]

Southtrust sucks ass!! I left them and now bank with wachovia

[chnco]

Southtrust = Wachovia

They recently merged.

[B16a2 Civic]

so whats goin gon with teh situation...you call teh customer service line?

[chnco]

I spoke with the regional manager, he was a total asshole and literally said to me "I am making a decision at this point and it is to do nothing about the fees"

Keep in mind, I am not cursing, I am not being immature, I am handling it very maturely and professionally. I then tell him "Well, I would like a different opinion on the situation, can you please direct me to someone else I can speak with?".

At first he said no, and that he is the last word. I ask for his superior, and he says he will have someone call me back within 1 hour or before the end of the business day (5pm). It is now 11:45am the next day and I have not heard anything.

Very unprofessional by a REGIONAL MANAGER. His name is Dean Price. He could of at least called me back and told me it would take more time.

Any suggestions at this point? Should I call their customer service line and go thru them or try contacting another branch? Do I have the right to be pissed off? What should be the basis of my argument? Thanks guys!

[B16a2 Civic]

customer service, the branch people usually cant do anything