Bank rips us off
By RosieS57
@RosieS57 (889)
United States
October 13, 2007 5:59pm CST
Be careful, US bank account holders! Hubby and I were majorly screwed over on Friday and we weren't the only ones. I heard from the bank officer where we transferred our savings that we were the 4th couple that day to open a new account and leave that other bank! If you have your salary direct deposited and you live paycheck to paycheck you're vulnerable. The bank, whose first part is Bank of....if you know which I mean, holds back from putting checks thru until a few hours before your deposit is due. Two of the checks they posted were from September 2nd and 3rd! What did they do, lose them in a dusty drawer and happen to find them again just at the right time? So the bank said the salary was pending and the late posted checks overdrew the account 4 times. At $35 per item overdraft fee, EACH item. $140 worth!
We transferred our savings to the bank across the street immediately; when this stuff clears then the checking is out of that predatory bank, too.
It's not right to try to make up for foreclosure losses on the backs of checking account holders. WE didn't cause the losses and shouldn't be subject to trickery so that the bankers recoup losses the bankers caused themselves with bad lending practices.
Have you been victimized by predatory banking practices? If not, I hope you are now well warned.
2 people like this
4 responses
@BayleighGray (4334)
• United States
31 Oct 07
Hi Rosie,
...America???? They did that to my sister on many occassions!! She was living pay check to pay check, although it wasnt direct deposit. She was figuring her check book, and writting things down and would always be over drawn. She finally went to another bank and has not had any problems.
That is really stressful. And if they can see that they keep a really low balance, then how do they think they will magically have extra money to pay for overdrafts?? I have a great bank, no problems at all! Even when I first opened it up and did get over drawn, the Branch Manager sat down with me and credited me the fees. She was really nice about it. So Im really careful, and I check my online balance with my checkbook at least every couple of days if Im using my DC a lot.
Bay
1 person likes this
@RosieS57 (889)
• United States
31 Oct 07
That's the one, Bay! They laid off 3,000 people this week. Obviously not caring about smaller accounts means having to cut the payroll, as well. If they tried to make up the losses on small account holders there must have been major switching to other banks in October.
Of course! What else could they have expected??!! We switched everything over to the other bank I've been at for years. I originally wanted an account with Bank Of LayOffs because my mortgage is with them, but fergitaboutit now!
Sorry to hear your sister had bad experiences, too. I hope she has moved to a bank that treats her better like your bank treats you!
1 person likes this
@BayleighGray (4334)
• United States
1 Nov 07
It doesnt surprise me at all Rosie! She did switch banks, and has not had any problems at all. She may not be that good with her checkbook, but when she kept getting over drafts she was really paying better attention. I tried to get her to let me go in there, cos I would have told them about themselves, I saw just what they were doing. Shes too sweet, she just said Im going to change banks. LOL
@theprogamer (10534)
• United States
13 Oct 07
Thanks for the warning. If ever prompted I know to look at US Bank with more suspicion. I'm glad I'm not with them.
1 person likes this
@RosieS57 (889)
• United States
14 Oct 07
Hiya, Progamer,
Actually, it's a much larger bank. The initials are BoA. I suppose they have so much money they don't need our accounts. If that is the way they continue to be there will be hundreds of thousands of customers moving their money elsewhere.
I hope you don't ever get subject to these kinds of things at your bank.
@suspenseful (40193)
• Canada
18 Nov 07
In Canada, I have a Canadian based US account (according to the rules of NAFTA we cannot have a straight US bank account that works with Paypal, for example) and when I get a US check, it does not go through for a month. Now at first, I thought it was because I had a low income, and just a pension. There is this bias against people who do not make much up here, that they will take the money and buy lottery tickets, etc.
However, what you have is a different problem. I should contact a lawyer, since this seems rather illegal.
@kodie420 (872)
• Canada
13 Oct 07
Thats ridculious. I know what you mean though because me and my girlfriend have a bank account with CIBC and these guys are complete scams as far as I'm concerned. They take 24 dollars every month from us in fees which either always causes our account to go into over draft or a check bounces. It seems their fees always come out when a check is suppose to no matter the date which costs us another 40 dollars when the cheque bounces. I think federal governments should relook some bank procedures because for people who have to live off every dollar they recieve this can mess up a lot of things in their lives.
