Complaint Review: BANKATLANTIC

There is something seriously wrong with Bankatlantic's method for charging overdraft fees - I have 4 accounts with bankatlantic - savings, 2 money market, and 1 checking. Having money in all of the accounts, this bank charged me on a single day $480 in overdraft fees when they issued 15 checks that I had pre-authorized. Check this out: They issue the checks, and with the money still sitting on the account (obviously, the checks haven't posted yet because it's not electronic transfer), they deduct it from your available balance and charge you an overdraft fee --- however, when you deposit a check, they hold it for 7 days! This is in my opinion a double standard and the easiest way to steal from their customers - so they don't make the funds available to you immediately when you deposit them, but they take them away from you and charge you an overdraft fee as your money is still available on your account. If there is someone out there who has had the same experience and has successfully recover their money from these people, please contact me. I am more than willing to contract an attorney to go against this bank, and make this public so that they have to change their policies. They also authorize electronic charges to your account -- by letting you charge on your ATM --- instead of declining the charge, so that they can charge you overdraft fees. They have no problem running 15 transactions on one day without alerting the customer as long as they can collect $480!!! What a great way to scam people!

Ibis
Hialeah, Florida
U.S.A.