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Resolved
US Bankoverdraft fees

Is it legal to charge an overdraft fee on a check when it clears and there is money available to cover it?!?!?! I think they are saying that there wouldn't have been sufficient funds by the date on the check, but I knew I had a deposit coming in, as it did, and there was money there when the check cleared. What kind of BS is that?!?!?! So if I didn't have overdraft protection would they have returned the checks with sufficient funds available to pay them????

Responses

  • He
    Help with Banking Jun 14, 2011

    Next time something like this happens you should call the school to make sure they submitted it to the correct routing and account number. Even if they send a direct deposit on a regular basis, depending on how they submit it, does not mean they could not make a mistake. When you are talking to the bank employee ask them to contact the ACH Department (department that handles direct deposits) to see if anything was received/rejected and what reasons the bank could have possible rejected it. Once the bank receives your deposit they post it to the account on the date the sender requests. So it could simply be that your student loan department asked them to hold it until a specified date. Asking the banker to call the ACH Department could give you this answer.
    I do agree in the "wait until money posts before you spend" theory. Remember, while a bank tends to offer "free" services, they are still a business so when the Federal Reserve charges them fees, it is then put to the customer for services provided. Same idea as going to a restaurant and not expecting to pay for dinner.
    Main things that could help when it comes to banking...always balance your checkbook, don't rely solely on online banking (banks don't know what hasn't posted yet...i.e...checks), if you get fees calling and yelling will not resolve it, listen to resolutions your banker offers and if you are getting bad customer service...calmly ask for a manager and speak to them nicely about resolutions. Just because the resolution may not be immediate does not equal the bank is unwilling to help. I hope your things go better in the future.

    0 Votes
  • Sc
    Screw u Jun 10, 2011
    This comment was posted by
    a verified customer
    Verified customer

    You all need to get lives.

    -1 Votes
  • Sc
    Screw u Jun 10, 2011
    This comment was posted by
    a verified customer
    Verified customer

    You must be a miserable person to get on here and try to hurt someone's feelings you don't even know. I am smart thank you very much, doesn't mean i'm not human and make mistakes. No one asked for your opinion on my intellect and like the old saying goes, if you don't have anything nice to say don't say anything at all. Not saying you have to agree with my side but have some class at least.

    -5 Votes
  • El
    elkins Jun 10, 2011

    All banks charge large overdraft fee's. If there was no penalty everyone would do it. I completely understand your frustration though, and $100 even in today's time is a big deal. Apply for an overdraft line, just a small amount that would prevent the big fee's from accumulating for every item presented. This will also add a trade line to your credit report, and if handled responsibly can boost your credit score while helping you save money from preventing the big fees.

    0 Votes
  • Pa
    Parastoo Jun 10, 2011

    US bank is just the bigest crooks. Just get your money out this bank. get OCC involve, even though they are not much help but a proper channel and expose them to pulic CNNC all the other TV channels. nail their business plain DRY.

    0 Votes
  • Sc
    Screw u Jun 10, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I have has my ups and downs with US Bank over the past 8+ years but this one takes the cake. I am a student and Every semester I have my student loans direct deposited into my checking account. Its the same every time, the second Thursday of the semester. So this semester on wednesday I look on my student account to make sure they paid me (they send it direct deposit on wednesday and US Bank puts it on my account that following morning per US Bank CS) and then I schedule 3 bills to be paid through bill pay on thursday. Thursday comes around...no money and I'm negative 3x. I call US Bank CS and they have no clue where the direct deposit is even though my school sent it to the same account they have been sending my money to 3x a year for the past 3 years. So then I was like, well when it shows up tomorrow or whenever, since it isn't my or my schools fault, can you guys reverse the charges? Nope. Really? Cuz you know, a single mother of two young children who is in Nursing school full time can afford over $100 in over draft fees cuz your company has no clue where my money is. But I bet I go make another purchase and you'll know where your money is right?

    0 Votes
  • Je
    Jessie TT Mar 23, 2011

    Please please please somebody opens a page of FACEBOOK to boy cut USBANK

    0 Votes
  • Je
    Jessie TT Mar 23, 2011

    USbank has been ripping me off by overcharging me for more than three years. They used every dirty way to get hundreds from my account including sending me a mail and claiming that my balance went down to negative because my address was wrong so they had to charge me $5 (the cost of the mail) while it is to make my balance go down to negative to over charge me. I am sure that they have taken about $3000 from my account over the past three years. That's it am sick of it and going to close this stupid account.

    0 Votes
  • Ga
    Gary D. Bryant Aug 24, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Arbitrary overdraft fees. No one will listen to complaints. Can you do anything?

    0 Votes
  • Je
    jessiesa May 11, 2010

    THey did that to me too! I was completely broke and somehow they had weird numbers and put my account into overdraft and charged me 415$! I couldn't afford rent or food and I called them crying and they couldn't explain to me what happened.

    0 Votes
  • Ga
    Gale1125 Mar 18, 2010

    You must use BB&T

    0 Votes
  • Mo
    Monie007 Mar 16, 2010

    NEVER GO WITH US BANK! I made a deposit of 400 dollars.. the lady there wrote it down saying I would have $75 available until monday. turns out none of it was available till TUESDAY.. my account went from +400 to a - 200.00!!! It was an employee error.. and they wouldn't do anything about it.. I called everybody including the 1 800 us banks.. and she was just snotty saying "well that's not my problem"!! I had to pay everything!!! When you're a broke college student.. money doesn't come out of thin air. DON'T USE THIS BANK!!!

    0 Votes
  • El
    Ellen Gates Sep 05, 2007
    This comment was posted by
    a verified customer
    Verified customer

    This bank is the worst I've ever dealt with. Completely lacking ethics, US Bank will do all it can to ensure it will profit by sneaking in overdraft fees whenever possible, often delaying deposits so the customer's account will be in a deficit. In addition, the tellers in the grocery store branches are incredibly arrogant and unhelpful.

    0 Votes

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