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Woodforest National Bank / excessive fees

1 TX, United States Review updated:

The last time I used the account (12/1/08) that I had for this bank, I had $11.35 in the account. Apparently, due to some fault of my own, a couple of transactions went through, and I was charged $32 in od fees for those transactions. I had no problem with that. My problem came when today I looked at my account balance and it was - $312! The bank charges a $3 fee every day that the account is negative. As of february 1st, the fee went up to $5 every day. I don't know what kind of bank does that to its customers, especially in such a bad economic time. Maybe they feel this is the way to do business. I called the bank and told them that I am only willing and able to pay the $117 in payments and overdraft fees that were originally caused by the transactions that went through. They told me they were only willing to settle at $160. You know, I may just pay the $160 and let it go. The bank is terrible, and the convenience of being inside of a wal-mart does not make up for the amount of fees they charge. No matter how low the amount of your original overdraft was, you will end up with $150 in fees each month if you are not careful. I don't need a bank that I have to babysit with the fear of excessive fees. This is ridiculous.

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  • Ar
      7th of Mar, 2009
    +1 Votes

    I agree. On 12/31/08, we had an authorized withdrawal from our account for "early cancellation" of a cable service. We cancelled it because of going down to one income and cable is a luxury. ANYWAY, $843 was taken out of the account. On 12/31/08, I was up at the bank explaining the situation. The branch manager said to take out the rest of the money, open a 2nd account and that the "pending" transaction of $843 would not be approved but we would still have to pay the $32 OD fee. I was cool with that. So we opened the 2nd account and the $843 DID go through. So now, the 1st account is negative $855 since we left $20 in there to keep it open and we can not use our 2nd account (that the branch manager suggested we do) because any money that goes into that account will be pulled over into the 1st account. On January 15th, we started getting hit with the $3 a day OD fee, then on February 1st, $5 a day OD fee. By the time our tax refund hit (as of today, 3/7/09, we still haven't seen the cable refund check) the 2nd account, $1, 157.36 was taken out of the 2nd account and put in the 1st account. I called the branch manager and she told me that she could "only" help me with $189.00 in reimbursement of all the fees that they charged me with. So in the end, I ate $125.36 worth of fees. I guess they feel that the only way THEY can stay in business during these hard economic times is to jerk around the little guy. It was all my mistake though. I was just going by what the branch manager was telling me to do. She's the experienced financial person in this situation. Right?

  • Wo
      21st of Mar, 2009
    0 Votes

    I too became OD by my own fault but they have charged me with so many fees I will never see daylight again. Can they do this? They call several times a day. I am afaraid to call them back they will charge me. What can be done? I am afraid of my own bank.

  • Da
      15th of Apr, 2009
    0 Votes

    I am a former police officer in Texas who was seriously injured in the line of duty and was totally disabled for several years. I was finally able to get back to a job and start getting on my feet after relocating from Dallas to East Texas. I opened a checking account at a WoodForest Bank inside the Wal-Mart in Canton, Texas and recieved a MasterCard Debit Card with my account. I used this card a few times and thought I'd found a conveinent bank to help rebuild my life. I had to have a lab test done at a local emergency room and paid my $20 copay with my debit and had plenty of money left I thought. I went to deposit a check in the lobby a few weeks later and was told my check would be held and that I had $136. in overdraft and daily $5. fees because my debit from the ER was $1. over the balance, apparently because a previous debit hadn't been processessed for a couple of weeks and it gave a a false balance for a while. I couldn't believe the exorbitant fee's this bank charged and continues to charge daily. They refused to credit my account and insist they mailed notices which I have yet to recieve. When I asked the main office if they had any way of verifying the notices were mailed they informed me that they could not, that it was suppose to be an automatic mail generatied from a seperate office in another state. I'm a licensed, armed peace officer and would think they'd appreciate my presence in their banks a liitle more. I am in the process of filing a court action in local court of jurisidiction in hopes of getting a temporary restraining order to stop the fees and have the people I've spoken with subpoenaed to prove that I was notified. Since my story was a big event in Dallas when I was injured the Dallas papers and tv did stories and reporters I know are in the process of helping me find local television and news sources who may want to do a human interest story regarding the numerous complaints and unfair fees charged by this bank. I encourage anyone who has been wronged by this bank to do the same, including taking legal action. If a lawyer can not be found I suggest you file in local JP court for a restraining order to stop the fees and force the bank to pay for their employees and lawyers to answer in court, and more than likely have these fees reversed and damages paid to you in compensation. They do not count on the general public to do this. Bad publicity and court fees are something that will not go unaddressed by the banking industry. Understand that the burdon of proof in civil court is much more laxed than in a criminal proceeding. In a civil proceeding all you have to do is present enough evidence in court to tilt an imaginary scale of justice in your favor even 1%. Imagine two balanced scales and one has 49% of weight in evidence and the other 51%. The 51% tilts the scales and thats who wins. Evidence is anything presented before the court with relevance to the case. Document everything; list converstaions, names, dates and times, fees, statements, witnesses, hardships caused by their actions...its all evidence. Chances are they won't bother and you'll when by default and they may even be arrogant enough to ignore the court decision and fail to obey the court orders which will open the door for you to file additional actions and win higher damages from future litigation. If you have toplay their greedy game play it at a good ballpark, a court of law.

  • Ro
      23rd of Apr, 2009
    0 Votes

    To be honest look around at other banks for their overdraft fees. Woodforrest is actually nicer than most. I had an account through another magor bank (Busey) and they charged $38.00 for an overdraft and $8.00 a day continual overdraft after the 1st day of overdraft. There fees are outlined on the initial paperwork and even if a charge has not gone through thats 3 weeks old that's not there fault and you should be keeping track of how much you take out of your make sure that your not a victim of any identity theft or fruad. Or overdraft your account. It's not the banks fualt for how long it takes for a withdrawl to go through your account. I was an order processor and can tell you most company's do a pre-auth to make sure the funds are there and then they settle their accounts. If your ordering something that has to be sent it should take longer for the charge to go through becuase they shouldn't do the full charge until the item manifests for shipping. Then the charge would be submited that night. These are all things to be taken into account when banking. Choose a bank with diffrent fee rates and dates or one where your savings is an auto back up. But you signed the paperwork when you opened the account.

  • No
      12th of Feb, 2010
    0 Votes

    Our bank is 1st Convience Bank in Texas and they charge 34.95 for OD fee plus $2.50 a day for every day you are od after 5 days.

  • Do
      28th of Mar, 2010
    0 Votes

    I am sorry to say, but I feel that you peoples know that these $5.oo aday is too much especially for disable peoples that is on montly income, I realize that we have to pay the insuffient charge, whuch is $34.00 for a charge but how can you pay $5.00 aday when you only get paid once a month, just this month 03-03-2010. I had three withdrawal fron unidentified companys that I had know way of even knowing these people, and they drew three different withdrawal on my account with out my permission and without my knowledge. causing me a tripple charge on my account, plus these $5.00 charges, that I should not be liable for, because, they was not all returned. and refunded. one check was for 19.95+34.00 another was $49.95 +34.00 and another $23.96 +34.00 a total of $205.86. plus these $5.00 was still being charged.I had a 90.00 and a 10.00 check in plus two 34.00 charges making a total of $168.00 I deposit $174. on the 03-03-10.on the 03-03-10 a $105.25 came in. making a total of $139.25.only after 03-11-2010, when the $5.00 aday should have started there is know way that I owe for 38 days. as your clerk stated.I made a deposit on the 03-03-10 and there is not 38 days in a month/ so I know some of these refunds was not refunded and somebody did not turned in those rebuttles and give me credit for them. this is my complaint, you peoples know that this is wronge, but I will leave this with you [God is not sleep he knows, and he sees. your family or home just maybe next. God Bless you:Missionary Dorothy M. Garrett
    Center, TX Woodforest national Bank Wal/Mart

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