Huntington Bank How to make tons of money and get away with it. Columbus Ohio
I don't mind paying overdraft charges. It's great actually.
When I am down to $14 bucks and some change in my checking according to the Display at the ATM, and an hour and a half from home to see my youngest daughter's play and knowing I get paid tomorrow. It is quite convienient for me to withdraw $200 so I can take her, my other daughter and their friend out to dinner to celebrate a job well done in the play. I know that is going to be $37.50 overdraft to borrow that $200 for that 12 hour time period until my direct deposit occurrs.
I looked at the situation and thought, $37.50 is a small price to pay in a crunch to spend some Q.T. with such wonderful daughters; they are worth it .
Afterward, we drove their friend home, and then headed back to their home (moms). Said goodnight, I got my kisses and some grateful thanks making it. They know how hard it is for me. They make the drive with me every other weekend. Ahhhhh being a dad!
I am willing/happy to pay Huntington $37.50 overdraft fee for allowing me access to borrow $200 for that evening. I mean, I am not sure but anyone giving out loans and making that much in return would do well...right?
"...let's put that $200 at the top of the list in front of the fill up at Exxon Mobile for $33.59 two days prior, $25.48 at Giant Eagle the day before, $7.72 Taco Bell earlier that afternoon, Tim Hortons breakfast that morning for $6.95, and the $1.50 Tim Hortons for the coffee for the drive up to the play...I mean...it is gonna be a late night. I know that those purchases were from a positive balance but if we do that...Cha-Ching!!! $37.50 + $37.50 + $37.50 + $37.50 + $37.50 = $187.50. No, no, no...that is wrong thinking and you have so much to learn about this business...sure this patron only made 5 purchases totalling $75.24. But he is gonna pay us $187.50...isn't that beautiful...that, people, is how you make a kill'n in this business..."
Of course, that is made up...they didn't know I was tired and really needed that cup of coffee to make that drive. Or that I live 75 miles south of my daughters so that I can afford to support them and pay over $1000 month in child support, not counting what I spend on them. This was all done by a stupid computer that has no feelings and compasion other than what a group of directors decide to pass along to an IT Manager who passes along to a developer to sort by amount decending as opposed to transaction date ascending!
Tired
Columbus, Ohio
U.S.A.
4 Updates & Rebuttals
Flynrider
Phoeix,Arizona,
U.S.A.
Still not getting it.
#5Consumer Comment
Mon, May 18, 2009
"I take issue with the fact that these five transaction were pending until until my ATM withdrawl triggered them to post suddenly."
Your ATM withdrawl did not trigger anything. Those small items you got charged for just posted on the same night. The small items were probably from a debit card. Those post whenever the retailer gets around to doing it. The bank has no control over when they'll hit your account. Obviously, you had made those charges and didn't account for them (you should have known they were pending and could post anytime) when you decided to overdraw your account.
Another thing. The penalties are not usury. Usury would imply a loan. You just used the bank's money without benefit of a loan agreement. Not quite the same thing. The bank charges fees that will (hopefully) discourage you from doing that in the future.
Tired
Columbus,Ohio,
U.S.A.
Response to Noir City, Michigan and Robert of Irvine, CA
#5Consumer Comment
Mon, May 18, 2009
Noir City, Michigan - Thank you for your comment. Insults aside, I appreciate your suggestion to draw out one lump sum of cash. I didn't spend $200 on my kids; In keeping with your suggestion, I only withdrew that much since I was planning to be charged for the overdraft. Also, let's just pretend we never said anything about me being nothing but deep pockets to my daughters.
Robert of Irvine, CA - I have asked several times for Overdraft protection from my bank, but with a credit score of 672 apparently holding me back, they have refused every time. I stated those five purchases because those are the only ones they charged me overdrafts for. I also appreciate your constructive suggestion and I do when possible. Like you and me, many people are in the same situation. We are sometimes not kept in the loop on things like plays and events until the last minute. That stuff happens and we do the best we can. I do disagree with your innuendo about my attitude being partially the cause of the current financial situation...I make my payments. At the time of the withdrawl, my direct deposit was approximately three hours from posting to my account. I do have permission to take money out that I do not have...yet, if I am willing to pay the overdraft fee (or in my terms, usery).
Finally, let me state that Huntington is not the 'big evil bank'. They are just a business making decisions and implementing business rules to maximize their profits...I would do the same. But, like I would, they should expect that when these business rules automatically charge a customer that much money, those customers will become upset about it. Again, I was willing to pay the overdraft for that transaction. I was frustrated when I posted the report and apoligize for the attitude. I take issue with the fact that these five transaction were pending until until my ATM withdrawl triggered them to post suddenly. No matter what your comments about my person, my attitude toward my children, or my particular methods for negotiating the roads of my life, you cannot deny that there is a problem with that.
Robert
Irvine,California,
U.S.A.
Are you kidding?
#5Consumer Comment
Fri, May 15, 2009
So you INTENTIONALLY take out more money from your account than you know you have, and the bank is ripping you off. There is no "borrowing" from a checking account, as it is NOT a line of credit. If you want a line of credit get a Credit Card.
When you opened the account you agreed to abide by the terms of the account. One of these is that you will be charged overdraft fees based on their posting policy. They post transactions highest to lowest, just like every other major bank does. This is how transactions are posted every night. As long as you don't spend more than you have, it really does not matter.
By the way you didn't make 5 purchases, you made 6 transactions totalling $275.24
$200.00
$33.59
$25.48
$7.72
$6.95
$1.50
Please take this as a constructive suggestion. That perhaps you should have thought ahead and started by taking out about $300 a couple of days before. Then using that cash and not your debit card. You still would have overdrafted but at least you would have only been hit with the one Overdraft fee. Oh and before you go on the "you don't know my situation", I do. I have the same family situation, and more times than I prefer suffer from a lack of funds to do everything I WANT to do. Just because they are the "big evil bank", that does not give you permission to take out money you don't have. In fact attitudes like that are at least a partial cause of the current financial situation.
Noir
City,Michigan,
U.S.A.
Stop Whining
#5Consumer Suggestion
Fri, May 15, 2009
You knowingly overdrew your account -- banks have been post highest to lowest for years....nothing new here.
Grow up. Get a travel cup and carry your own coffee, make a sandwich for lunch, carry your soda from home. When you have to run your balance that close, stop using your debit card as cash -- draw out one lump sum of cash and pay that way. When you are out of money, you are out of money. Stop spending $200 on your kids that you don't have. If all you are to them is deep pockets, it's not much of a relationship anyway.