Guaranty Bank / Fees
First of all they are great with the promises and why you should bank there
As we later found out this is not true but was told to my husband and myself as well as a referral client we have; the main lie and sales point they used with us was "if you have to buy something and don't have the funds it is ok as long as you get the funds in the account by closing, 7PM! not 3 like other banks our business day ends at 7 so if the funds get here by then you are fine." wow I though this was a great feature probably wont use it but nice anyway. Here is where everything can crashing on my account.
The breakdown is as follows
I had $57.44 and I had 2 pending check totalling $50 so lets start there. OK so my checks post as expected I had $7.44
Everything is great until a company I no longer do business with charged 2 payments of $29.97.
Off the bat I am hit with a $35 fee for my account available balance going negative. Instantly I noticed the error and contacted the company who issued a refund on both charges within 24hrs. and called the bank to see if I could get there by 7pm and add $60 until this gets straightened out.
Keep in mind what we had been told, if you get there by 7 everything is good; so I assumed if I rushed to the bank disaster could be avoided, I was told there was nothing to be done, that once a charge even if pending reflects the account and if it brings the available balance negative the $35 is accessed. I was told the fee is not reversible and I should have never been told that I can deposit the day of a charge, and "if" I was told this by a branch and had proof I was told this they can look into things, and at this point there is nothing I can do but wait.
The next day the charges had been refunded however my account sits in the hole because the bank has two charges of $37 one for each accidental charge that has now been refunded and my account reflects this refund as well as that $35 charge for bring the available balance negative.
So I called the bank again, ok the best option the have was to have a request sent to the head office so someone there can decide if the charges can be removed and my account can simply go back to its tiny $7.44, really this is all I want. but I was told this can take up to 3 business days.
Yesterday I check my account and see additional charges $8 each day for having a negative balance, total fees $35, $37, $37, and $8
Today I check, refund, not that great because the feel only a $37 refund is allowable, total fees $35, $37, $8 and $8, so I call to see what gives thinking maybe the agent I spoke with was unclear in the letter of what needs to be refunded, not the case the bank feels the error is a "merchant" issue and the company who first charged the two fees causing this downward spiral is at fault and they should refund my fees.
Now we are looking at a weekend and my guess is even though deposits can be made and I can reach anyone to fix these issues I will still be racking up my $8 a day fee.
Bottom Line: I understand bank fees however this is an error, it was corrected in 24hrs, the reality is the bank never lost money and I have 3 accounts with this bank and have been a good referring customer, I was not out buying anything I did not have funds for, and stop training your employees to say that you have until 7pm to add funds to an account if this is untrue, as mentioned I know multiple people told this and I clearly remember this as it truly was a sales point for me, don't tell someone that they have to prove that they were told this because that is just insulting.
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