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BB&T has been systematically ripping off its customers by posting debits first, then posting credits or deposit. This is in stark contradiction to the policies banks, in general, have had in regard to this situation. Traditionally, banks would post deposits and credits first, usually at 12:00 midnight, then, they would post any debits or withdrawals, summarily preventing unnecessary overdraft charges.
However, in an effort, it seems, to pad their profit margin, they are posting debits first, then posting credits. This new policy, in essence, increases the amount of fees that they collect, as, a lot, if not most people in the lower and middle class have a lower balance when it gets close to payday, or, when we get a winfall and our checking account balance is low, we expect that our deposit will hit the account before any debits.
Also, my wife has her check direct deposited. She is a school teacher. The checks go into the accounts on Thursday. They do not post until after 6:00 A.M. on Friday, again, allowing for fees to be assessed for any debits posted at 12:00 midnight. It's clear that the banks have instituted this policy to glean more fees from the working class, while leaving the upper class and the well-heeled, virtually untouched.
This practice is an outrage, and if the federal government and state banking regulators won't do anything about it, we the the people, should start taking grass roots measures to rectify this problem.
yes, it was suppose to have charged off like I stated earlier, but the account remained open, I was told to make a deposit to have activity in the account, I started banking with them again likenothing ever happened, then they took money out of my account whenit was placed in there during tax time, though the months of me continuing to bank with them that all charge was like it never happened it was a thing of the past, then after more months of banking with them and never getting the money back after the tax situation I closed the account because I was worried that everytime I made a deposit somethingelse would happen. When I closed the account a couple of months later I started receiving collection notices from their recovery department stating that I still owed the same debt. So, you tell me
yes, they told me that the account had been deliquent so long that it was charged off, against the account, but the account remained open just with a zero balanceI did not completely understand it either, they told me that I just needed to make a deposit before a certain date so that the account would not completely close for lack of activity on the account. I did that and the account started all over like there had never ever been a problem maybe six months to a year later when tax time came, I deposited my income tax check, then all of a sudden they snatched the money out saying that I still owed that balance from previously. Problem is that before the income tax check I was depositing money, making transactions and never once was it an issue until my refund came into the account. That iswhat I don't understand, and even to date they still have sent me to collections saying that this was still a deliquent account. This would make three times collecting on the same thing.
I had an account with them once, I got injured the account charged off, when the government was bailing out all of these banks they got paid off before the account could actually closed. They left the account open and told me that I because that portion was paid I would just need to put some money in both my checking and savings account or it would be closed for nonactivity, by a certain date. I did this and they eventually got back on my feet. I deposited my income tax check into my savings account, which they took the same money out of that they had already been paid for, came up with all these excuses why it was right for them to do and still they hold the account in collections for the same balance a third time. I am afraid to ever bank with them again not knowing if everytime I deposit money if it will continue being taken everytime for this same old debt. anybody have any ideas I am getting nowhere with this, please help.
I cant stand BB&T Bank. Why arent they investigated? Norton Antivirus (another rip off) charged me with a renewal in amount of $69.99. I havent used Norton in many years. Upon my own research, Norton push the charge through on an old BB&T account number I registered with them 4 years ago. It should have been declined, but BB&T approved it. When I asked BB&T, no one could answer why such a charge was approved on an account that was closed years ago and rolled over to my new account. Then it hit me when I read the above post. It was because this charge caused me an overdraft fee of $35.00.
BB&T told me they would credit my account for the fees, case closed. However, how did my account get breached? Amazing how they can engage in business practices that would send anyone else to jail.
Anyone interested in participating in a class action suit against BB&T please contact me.
David Benson
snags6@yahoo.com
Completely agree with everything said. I no longer bank with BB&T simply because of that policy. This has been the attitude of many banks and creditors as of late; fleecing the lower and middle class. Whether they still do it or not is irrelevant. The bank I now use shows deposits immediately upon them being made and direct deposits usually show up a day earlier. I strongly suggest that anyone who is still having this problem close their faulty accounts, get it in writing and then find a new bank that actually gives a crap about its customers.
I disagree with you, Ashley. You should NOT let those thieving jerks get away with that! I've had problems th them, too. At least talk to a lawyer and see what he says. Whether it's 96.00, or 2.00, money is money, especially these days, and you should'nt let them get away with it.
I will never bank with BB&T again! I originally banked with BB&T throughout my high school years, and closed the account when I started college. I went to college in a small rural area and the closest bank to campus was a local credit union. When I closed the account I was handed the cash that was left remaining in the account and it was done. A year ago my fiancée added me to his bank account, (which was at BB&T), in order to combine our finances. Last week (08/28/08, to be exact) BB&T debited $96.83 out of our account, claiming that my old account, (closed in 2003), was negative. I have called customer service who referred me to the recovery department. When I discussed the problem with the associate in the recovery department I was told that they had sent the charge into collections in 2003, and had just received the charge back from the collection agency. This so called "collection agency" claims that they have made every attempt possible to contact me. When I asked for the name, phone number, or address of the collection agency, I was informed that they do not have that information. When I asked for a last billing statement from the old account, I was told that their records do not go back that far. The interesting thing is I bought a new car last year, and a house a few months ago, and there is absolutely nothing on my credit report in regards to BB&T. They have provided me with absolutely no evidence of a debt, and I have received no correspondence from them regarding a debt. I received no notice at all stating that I had over drafted or owed them money. However, they claim, that when I signed my paperwork to be added to finance's account that the paperwork contains a section stating that all monies owed to BB&T whether in current or previous accounts will be deducted from your current account. I have yet to find that in any paperwork that I signed. As of today the account is closed. I am considering pursing legal action, but truly feel as if the lawyer fees are not worth it, considering the charge is only for $96.83.