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BB&T / bizar overdraft fees

1 United States Review updated:

I just moved from the Netherlands to the US, i opend a checkings account at BB&T, very plesent personal in the office that for sure, this is a big reason to open a account there, but there policy for overdraft fees is unacceptable and i think near criminal.

I deposit some money in the checkins acount and started to use my bank card, i didn't give enough thought about the money in my account so i did 2 transactions of a total $150 over the money i had on my account.

It is my own fault i tride to charge more money then i had on my account, that i will admit instantlly, that i would have to pay intrest on this $150 (couse basiclly it's a loan) that i also understand.

But they dare to charge me $70 over this $150 overdraft, in times where the banks loan money for 0% they dare to charge me near 50% intrest on a couple of days loan (altho they call intrest a fee)

The personal at the local office was very nice again when i confronted them with this and they told me they can do nothing about this, couse this is policy, i think it's near criminal, that 70 dollars is in no way a compairing for this 150 overdraft.

Was looking on the internet to find where i can complain about this and stumbled on this site, had to write of the frustration, i have very lilte patience with big companies that should deliver honest service and not try to bend you over with policies that in no way are fair.

Re
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Comments

  • Gu
      11th of May, 2009
    0 Votes

    it has nothing to do with percentages, it was a certain charge per overdraft item (prob around 30-35 bucks) which is very common. and might i add was prob in a disclosure you signed when you opened your account.

  • Co
      11th of May, 2009
    0 Votes

    I agree the problem is with the banks in our country. Those greedy snobs are the ones responsible for the economic mess. I say they should come up with a more logical and reasonable means for implementing fees on overdrafts.

    To guy10782: I think the poster understands the system as he admitted his own fault, ergo your post is irrelevant. The fact that this overdraft charge is very common is a slap on the face of every American. When do the banks decide to raise the price of the overdraft fee...it occurs when their ### are on the chopping block.

    It is time that our financial instutions ceased their extortion of the everyday little man.

  • Re
      11th of May, 2009
    -1 Votes

    @guy10782

    ThX for you're comment

    You are fully right on that, it's there polici and thats there good right and i agree i have signed on that. (I have to read the conditions better clearly)

    But come on, you can't say charging $70 over a few days credit of $150 is reasonable.

  • Re
      11th of May, 2009
    -1 Votes

    Man, just checking the specs, i was even only 63 dollars over, charging me 70 for it.

    So not 50% profit on a loan of, but more then 100%, how to double your money in just a few days ? ask BB&T

    Does aybody know any banks thats more trustable ?

  • Gu
      14th of May, 2009
    0 Votes

    i agree with what you both are saying, im just sticking up for the banking side. i manage a bank so i know how most of them run. i must add that i dont always agree with how other banks run and add that my bank charges 15 per item and has a max of 60 no matter how many items. so when you say all banks suck and that they are crooks, just remember that its mostly the big banks that treat their customers like crap.

  • Bb
      27th of Jun, 2009
    0 Votes

    http://bbandtsucks.com

    Forums coming soon!!

  • Re
      2nd of Jul, 2009
    0 Votes

    Ok, i've had another one on my sleeves (20 dollars over, 35 fee, mofo) i've canceld my account, i dont understand people accept this kind off mess, do they realize what kindoff yearly intrest they pay with a few mistakes like that. (and i'm not a pro banker, i'm just a consumer living from paycheck to paycheck)

    I have to start to look for another bank, I can not imagen all banks are stealing money from there customers this way, if all banks here in the USA act like this then i understand why we are in a mess now that put people all over the world in troubles. (and who can save the mofo ?)

    Coming from the Netherlands it is a big suprise to see banking here, the USA is the strongest economic nation for decades, but the banking goes like we did 25 years ago.

    Cheques i havent seen in 25 years, money transfers and payments go all electronic and for the most part instant, if you have a overdraft you pay a x% yearly intrest over that, if your overdraft get higher then the limit you set on your account your account get blocked till you put money back in.

    Starting my search for a new bank now, but might end up with a old sock or shoe box as a better alternative.

  • Dj
      5th of Aug, 2009
    0 Votes

    I'm am being ripped off every week by BB&T and this is a shame.

    I think the Government doesn't intervene when they are benefiting from the fraudulent transactions.

    So, lets find out what the Government should be enforcing and sue them for ignoring the facts and allowing the banks to take advantage of us.

    If all else fails...lets remove the money from BB&T until we can find a honest institution.

    DJ
    proteuslife@msn.com

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