While I agree with Tired of stupid I just had the same problem with this bank and yes I am very diligent with my record keeping and I never overdraft. I went to a movie and purchased some refreshments then the next evening my mother bought the wrong food for my dog, he is allergic to corn and certain kinds of nuts. I called her and she said if I fixed the problem she would pay me back only after I explained the situation to her, when I got home she went back on our deal. I scrounged up the five dollars which I deposited the next day to cover the transaction. They kept my deposit pending until the next day intentionally (cash is cash and should appear immediately nothing needs to clear) so when the other pending transactions came through it would overdraft my account. The problem is 2 of the 3 purchases were from the same vendor and they should have posted them chronologically by date or by vendor they place the one that was from Sunday night first, then Monday night and last the final Sunday night purchase. It looks like this,
05/11/2010 DEBIT CARD VISA DDA PUR
CINEMAGIC QPS SACO *ME $.35 -$4.59
05/11/2010 POS DDA PURCHASE *0050
HANNAFORD 0389 WELLS *ME $7.35 -$4.24
05/11/2010 DEBIT CARD VISA DDA PUR
CINEMAGIC QPS SACO *ME $8.77 $3.11
Notice how I did not post any personal information by doing this.
There are two larger issues here, first what they are doing is unethical and I have seen many businesses be shut down for such practices, second unethical and all what they are doing is also illegal and could be classified as borderline extortion, see definition.
In the United States, extortion may also be committed as a federal crime across a computer system, phone, by mail or in using any instrument of "interstate commerce." Extortion requires that the individual sent the message "willingly" and "knowingly" as elements of the crime. The message only has to be sent (but does not have to reach the intended recipient) to commit the crime of extortion.
Basically they are willingly and knowingly doing this but will not admit the offense because if they do it would incriminate them for said crime. In my case the message was not only sent but received via the online banking.
Remember, almost all of the banks in this country are a member of FDIC who's job at the moment is to insure and protect 250, 000 dollars of a person's money and it is my understanding that any bank who has entered into an agreement with the FDIC has therefore agreed to protect peoples money. While some fees are fair and necessary there are limits and should not be allowed to con us hard working blue collar citizens out of their money.
It would be absolutely fantastic if someone out there would do the right thing and create a bank that was honest and fair. There are ways to make money without deceit.
I will leave you with a pair of quotes
Honor: It is better to fair with honor than to win be deceit;
Truth: Always do right, this will gratify some people and astonish the rest.
