Complaint Review: Key Bank

When the bank is re-ordering transactions?  Lets say your register is going to show that you made a mistake and over drafted your account by $5, and you are ready to deal with this matter and pay your fee.  THEN! OMG! The bank puts the transactions in reverse order....guess what now you have multiple overdraft fees.  What the heck does having a register do in this situation?  Please answer, I am sick of hearing people say "Use a register" ---> It is pointless if the bank can re-order your freaking credits and deposits.  Thanks.

My one question is how much money did you really have in the bank?...Did you even know for sure? Relying on someone else to correctly manage your bank account is asking for trouble. I have been banking with Key for at least 10 years. I have had my problems and issues because no one is perfect. It seems you've done this before and probably quite a few times to get socked with so many extra charges.

So whose fault is this reallyyours for not being responsible enough to manage your bank account effectively or a computer system?!? In your account ledger that you keep outside of Keys Online Banking, what was your total?

Mistakes happen and the outcome always depends on how well they are handled. If a system glitch causes a similar issue, the bank has to own up to it and fix it. If they dont, then by all means yell your head off.

When it comes to managing your money, arent you responsible for this? So if you wouldve seen the discrepancy between your ledger and the online banking total, you could call and find out what the hell?!!

Spending money when you are not sure you have it.is kind of silly.

I have done business with many banks and key bank is the worst violator i have found. They treat you well if you have a lot of money. For instance when i had $30,000 in my savings they would instantly delete any overdrafts from my checking, but after i moved a large part of my banking to other banks they started treating me like a criminal because my key account didn't have much activity.

Key bank does do exactly what this poster claims. They will show your deposits a day or more ealier than your debits, and they will delay posting your electronic deposits sometimes for days until after the account is overdrawn.

Even if your account is overdrawn they will not refect that in the hopes of you making more charges on the account. They will then put the transaction through NOT in the order they occur but largest to smallest in hopes of generating the largest number of overdrafts possible. I know this is a fact. Get an account with washington mutual, or a credit union they are much less corupt.

banks increasingly make a large part of thier profit from overdraft charges. Keeping a register does not always mean you won't get ripped off by a bank.

Let's say you make 6 transactions totaling $10 one for $5 and 5 for $1. Your account ballance is $5.50. If the bank puts through the 5 $1 transactions first you would have one overdraft in the amount of $4.50. If the bank puts through the the $5 transaction first you would have 5 overdrafts one for .50 and 4 for $1. Now lets say you had a $5.50 deposit pending. If the bank would let that deposit post your account would never be overdrawn, but if they hold the deposit until the next day they can steal your deposit and charge you $160+ in overdrafts. What do you think the bank will do?

Anyone who thinks banks don't do this is niave, and will be changing thier tune when it happens to them. As far as banks not having the time or man power. That is also a Niave argument. The banks have thier computer systems programed to do this. The computer can see ahead and hold out for more transactions to come in when your ballance is getting low in order to process them in the order that is most profitable for the bank.

Just a comment on Debbie's suggestion to use checks instead of cards. With the new
'check 21' system in use now, it is not advantageous to use checks as they are run just as if they were an EFT. Sometimes they actually go through faster than debit cards. Only, if you can convince the recipient to hold the check will you gain any advantage. In every way, I agree with everything else in these postings. Thank You

I know how you feel, I to have paid over a 1,000 in overdraft checks, they never could explain and I did what I was suppose to do. I closed my account and thought everything was took care of, but to my suprise, that person never closed it, well I changed banks and I am fine now, but Key bank still sends me notices that I have overdraft checks even tho the account is now closed. Well I hope it is, I did my part and now they can do there's, leave me alone. From now on I will just return to sender cause I don't have an account with them. Yes there should be a class action suite against all banks that do this. I think it is just people that have checkings and they can't make anything off people like that. Go to another bank and go back to the old way of writing checks, it's the safe way.

I know how you feel, I to have paid over a 1,000 in overdraft checks, they never could explain and I did what I was suppose to do. I closed my account and thought everything was took care of, but to my suprise, that person never closed it, well I changed banks and I am fine now, but Key bank still sends me notices that I have overdraft checks even tho the account is now closed. Well I hope it is, I did my part and now they can do there's, leave me alone. From now on I will just return to sender cause I don't have an account with them. Yes there should be a class action suite against all banks that do this. I think it is just people that have checkings and they can't make anything off people like that. Go to another bank and go back to the old way of writing checks, it's the safe way.

I know how you feel, I to have paid over a 1,000 in overdraft checks, they never could explain and I did what I was suppose to do. I closed my account and thought everything was took care of, but to my suprise, that person never closed it, well I changed banks and I am fine now, but Key bank still sends me notices that I have overdraft checks even tho the account is now closed. Well I hope it is, I did my part and now they can do there's, leave me alone. From now on I will just return to sender cause I don't have an account with them. Yes there should be a class action suite against all banks that do this. I think it is just people that have checkings and they can't make anything off people like that. Go to another bank and go back to the old way of writing checks, it's the safe way.

That may be why you have this problem.

Yes you only spent a certain amount of money that was in your bank at said time, but if you used a debit card for the local purchases the merchants probably put an additional hold on it. (For example I heard people complain about a $90 hold on $10 worth of gas.) And that will also put you over the limit.

The banks have no control over these holds only the merchants do. And I think that it is wrong.

Before you made your purchases for the day, What did you balance show in your checkbook register? Please respond.