US BANK rip-off! Unfair overdraft charges! Money-grubbing vulchers! Richfield Minnesota
Do not use US Bank unless you want to pay them overdraft fees! I deposited 3 checks totaling $390.72 (which was my 5 yo. son's child support) on Monday at an ATM; the amount showed in my available balance. Tuesday there were 7 transactions on my account; they put through the largest amounts first causing me to get 7 overdrafts because they held more than $200 of my deposit from the day before. Because of that I will admit that legally because they can hold the money that I owe for 2 overdrafts if they had put through the smallest to largest amounts.
Because of these extra overdrafts they caused my account to receive 2 more the next day; totalling 8 overdrafts at $33.00 each = $264.00. Had they only put the smallest transactions through first I would have only had 3 overdrafts at $99.00. I will not dispute that I had 3; but they are horrible money-grubbing vulchers! Their practice is also to put the checks through after the end of the day so that you can't find out what your true balance is and deposit some money! They are blood-suckers! My son's child support check is basically gone because these corporate vulchers need their big fancy cars and houses! My son needs food and clothes and I need to pay bills to keep the house and have electricity; etc.
We need to do something about these banks! This should not be a legal way of handling our money! So much for FREE Checking and 5 star service! I got screwed with that one! I will look into changing banks or just not using one at all! I think I will have only cash from now on and pay bills with money orders!
Jennifer
Le Sueur, Minnesota
U.S.A.
1 Updates & Rebuttals
Sherri
Piedmont,California,
U.S.A.
DID THE BANK PUT A STANDARD HOLD ON THESE CHECKS?
#2Consumer Comment
Fri, August 06, 2004
That is almost what it sounds like. If that is the case, they only make the first $100.00 of the deposit available to you for a set period of time (2-3 days local, up to 11 business days for out-of-state checks).
I don't agree with the practice, but it is something banks have done for years. I actually had a $43,000 cashier's check put on hold for 11 business days (minus $5000 that was not on hold).
If you get out-of-town checks, it is usually best to deposit these with a live teller. They will usually tell you right away whether there is a hold (and not 2-3 days later when you get something in the mail!).