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National City Bank / predatory bank practices

1 1105 State Route 28Milford, OH, United States Review updated:
Contact information:
Phone: 513-575-7600

My 23 year old son & I have checking accounts with National City. Since my son is in the Army, we linked the accounts so we can transfer money back & forth. On the night of Monday, April 14, 2008 at 11:23 p.m. I transferred some money from my son's account to my account. Immediately afterwards I paid a bill in the exact amount. The next day I was hit with TEN overdraft charges! NCB says it's because the bill payment (the debit) was immediately charged against my account, while (according to bank policy) the transfer (credit/deposit) didn't get applied to my account until 8 a.m. the next day since it had occurred after 8 p.m. When I confronted NCB officials, they said the credited amount was "unavailable" despite the fact it had been removed from my son's account at 11:23 p.m. They can't tell me where that money was for 8 1/2 hours (I know where it was: in the overnight "sweep", making money for THEM, while they charged ME for not having it in my account!) NCB refuses to refund the OD charges, stating "it wasn't a bank error". It may not have been a bank error, but it sure is unethical.

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Comments

  • Ti
      23rd of Sep, 2008
    0 Votes

    I had the same thing happen to me with my husband's acc. They told me I should have just used his acc for the bill pay instead of moving the money. It cost me 72 in overdraft charges and they will not refund. This has caused me to find another bank and I will close both acc's with NC as soon as everything clears and I can change some automatic payments to the new acc. I have been a customer for about ten years and my husband longer than that. Things like that are exactly why my home and cars and financed elsewhere!

  • Wh
      30th of Oct, 2009
    0 Votes

    That is horrible and should be illegal! Unfortunately, these predatory practices are increasing. I wish more people would rally around the things that deserve attention and regulation rather than following what the pundits and politicians tell them to care about. These banks are preying on the middle class and we have no representation or defense. The banks however, have one of the most powerful lobbying groups around to protect their interests and allow them to continue extracting more and more unjustified fees from their own customers.

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