US Bank / creative questional overdraft charges
There is no other bank that is more creative in finding ways to create overdraft charges. Now I’m not stupid. I am a network administrator and I have a masters degree, yet there is no way I can understand how they are able to twist and distort charges and deposits so that it comes out to their advantage and charge overdraft charges. I monitor our account daily. I think that they arrange it so that the latest charges are brought in in the last few minutes of the banking day so they can make the overdraft chargtes when it is too late for the user to make any adjustments. I have checked the balances at 11 and 11:30 pm and then 3 or 4 more charges come in in the last couple of monutes, make you overdrawn and then stick you with multiple charges. I have asked them about that and they deny that, but the lowly rep on the phone doesn’t have any say or knowledge of the sneaky techniques used higher up the ladder. I just got off the line with a rep and the way they figure things just doesn’t make sense.
- I’m looking at an item 15 or 20 lines down on my account
- A 70$ item that reduces the balance from 270 to 200$ OK?
- But according to the rep, the way THEY figure it, there is a negative balance. They say if you add the latest items that have not even posted plus others they somehow say that my actual balance is more than 100$ in the NEGATIVE.
- So I say if that is the case why the hell don’t they show it as negative instead of positive, and they say that it is up to me to keep a ledger to monitor any charges that might come in at the last minute. I’ll tell you why they don’t tell you its actually in the negative, because they make billions of $ on overdraft charges. That’s right billions. The government is moving to pass legislation to end this type of CREATIVE OVERDRAFT CHARGES. It’s a real cash cow for these banks and they don’t want to lose it.
I read that Chase bank is one of the worst offenders but I’m sure that US Bank is right up there close. I would certainly recommend that you NOT chose us bank. There are better ones out there to choose from.
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