KeyBank National Association stop payment made, charged, paid anyway causing overdraft insufficient funds overdraft fee charged Ashland Oregon
On March 30, 2005, I personally went into KeyBank National Association located at 183 East Main Street, Ashland, Oregon, to request a stop payment on a check I had just written in the amount of $19,644.23. It took two tellers for this fairly simple request to be accomplished, and I was told there would be a $25.00 stop payment fee charged against my KeyBank Privilege Checking Account. No longer needing that large of a sum in my Privilege Checking Account, I transferred $19,000 back into my Money Market Account.
About a week later I received a telephone call from KeyBank. They told me that I had insufficient funds in my checking account to cover the draft payment in the amount of $19,644.23. I immediately informed them that I had placed a stop payment on my check a week or so earlier and had transferred $19,000 back into my Money Market Account as it was no longer needed in my checking account. They thanked me for notifying them of the stop payment directive, and I believed the matter ended with that telephone conversation.
I just received a form from KeyBank National Association dated April 5, 2005, entitled Notice of Insufficient Funds and/or Overdraft and Charges to Your Account. Stated on this Notice was a line item "Total amount of items paid that overdrew your account" with the amount of $19,644.23 paid out of my Privilege Checking Account and further identifying the check number of my original check. If that wasn't bad enough, KeyBank National Association had the ultimate gall to charge a $30.00 overdraft fee to my Privilege Checking Account putting said account in arrears to the tune of -$13,673.14. Said Notice also states that a "Recurring Overdraft Service charge in the amount of $28.50 will be charged to your account once every five business days until your account balance becomes positive (including the payment of all outstanding fees and charges)."
I have the Stop Payment Confirmation form letter sent to me by KeyBank National Association. Said Stop Payment Confirmation states my account number, check number, to whom the check was made payable, the original amount of the check, and the Stop Payment Date Issued as 2005-03-29, the day I went into the bank, together with a Stop Expiration Date of 2005-09-30--five months from now.
Kathleen
Ashland, Oregon
U.S.A.
2 Updates & Rebuttals
Eryn
Cleveland,Ohio,
U.S.A.
Credit research you were dealing with the wrong people.
#3Consumer Suggestion
Tue, July 19, 2005
Probably the reason you didn't get a straight answer from the branch is that you were dealing with the wrong people. You should call the call center and they can help you get in touch with the credit research department who can take care of the outstanding loan/line problem.
Also, it sounds like you did a regular stop payment on a check and the company was trying to do a draft. Those are 2 diff. kinds of stops that they would place for you.
So even though it was going to the same person, 2 different areas are handling the stops, so some places, when they realize you have stop-paid the check, will send it through as a draft item. This isn't the banks fault.
In some cases they are able to catch those but it doesn't always happen. Still the bank should be able to reverse the fee since it is an error by another bank.
Kathleen
Ashland,Oregon,
U.S.A.
KeyBank National Corporation, Ashland, Oregon; Continuation of EXTREMELY Poor Management
#3Author of original report
Mon, April 25, 2005
I personally went into the Ashland, Oregon branch of KeyBank National Corporation on Wednesday, April 20, 2005. I went there to ask questions about the above-described complaint, to inquire about another concern I had regarding an "outstanding line of credit/loan" for over $211 that is appearing on my credit report, and to ultimately close out my privilege(?) checking and money market accounts. In dealing with two individuals at this branch (branch manager and an individual at a desk near the branch manager's office), I personally witnessed the following less-than-professional circumstances:
(1) Line of Credit/Loan: The individual at the desk could not find any proof of my having said line of credit/loan when doing a search on her computer. She called the branch manager over, and the branch manager looked at her screen and commented, "That's the strangest thing I've ever seen." Needless to say, that comment by the branch manager and the fact that the bank's computer system failed to identify my having this kind of account brought even further anxiety and heartburn to me, together with a feeling of almost complete and utter helplessness. Not once but twice the person at the desk called an 800 number associated with KeyBank to request a FAX with supposedly substantiating evidence in this regard. During the nearly one hour that I spent in the branch office, no FAX was ever received.
(2) While arranging to cancel my "privilege" checking account, I carefully totalled the few outstanding checks I had written. I did this in order to leave that amount in my checking account to cover the balance of the checks I had previously written. The amount came to $493.50. From the printout showing my current checking account balance I wrote down the $493.50 and did the subtraction on paper faster than the person at the desk did so on her paper calculator. When she had completed her calculation, she ripped off the calculations and laid down the paper containing her calculations next to the page where I had manually subtracted the same two figures. The result of my hand-calculated subtraction came out several hundred dollars more than the bank person's machine calculations. Immediately I added the bottom two of my figures and came up with the exact same total on the top, which was the current balance of my checking account. I then looked at the machine calculations and thought I must be seeing something from a science fiction movie! The figures she used to subtract were the exact same figures that I had just used in my calculations. Not only was the end result gravely in error, but the two bottom figures did not add up to the balance of my checking account that was keyed in on the top of the paper calculator figures!!! I turned her paper calculations around, pushing them closer to her to see while exclaiming that the machine calculations were several hundred dollars short of the correct amount and that the two bottom amounts didn't even total to the dollar amount on the top! She looked at my with disbelief and then down at the calculations. The first word out of her mouth was, "Wow."
Since no FAX was ever received at the branch office after two calls were made requesting it, I continued on to closing both of my accounts. I also stated in no uncertain terms, and several times, that I expected a call regarding the so-called Line Of Credit/Loan amount which was also appearing on my credit report.
That was Wednesday afternoon. I waited all day Thursday for a call from the Ashland, Oregon branch of KeyBank National Corporation regarding the unanswered, unproven Line of Credit/Loan that went unanswered the day before. After 24 hours they hung themselves and proved once again to be unfit for professionalism or customer service by never calling me with any explanation.
Today, Monday, April 25, 2005, I am awaiting a call from a KeyBank National Corporation Customer Service Team Manager (Ms. Gray) located somewhere in Ohio. On Friday afternoon, April 22, 2005, I called to make a full report and complaint regarding my unfortunate experiences with the Ashland, Oregon branch office of KeyBank National Corporation, its employees, their lack of professionalism and accountability, etc. Time will tell whether or not this or any other employee of KeyBank National Corporation has the courtesy of returning my call as they promised.