National City Bank — predatory bank practices
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.