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US Bank ripoff overdraft fees eating all of my funds Milwaukee Wisconsin
I have been charged thousands of dollars of fees for this year alone (and it's only half over). It really seems like, unless you have an extra 1,000 in your checking account, you cannot have one. I think if enough people complain of all the fees that are being charged to them,mabey something can be done about it.
It would be interesting to see when the funds actually cleared the fed reserve etc.
That was real nice how a US bank employee broke down the rules of owning a checking account, but she may not of been affected by all the fees the bank charged.
It is funny how the banks are open on Saturday to take your money for deposit(cash, checks etc) but it will not register until 2 days, also by the time funds become available, the balance is eaten away by overdraft charges.
A broke women in Wisconsin.
Melissa
milwaukee, Wisconsin
U.S.A.
5 Updates & Rebuttals
I Am The Law
Cincinnati,Ohio,
U.S.A.
The Federal Reserve.
#6Consumer Suggestion
Wed, May 21, 2008
Despite the fact that a bank branch may be open on a Saturday or Sunday, the Federal Reserve is not open. Depositing a check on one of those days is the exact same as depositing the check on Monday most likely clearing on Tuesday morning. The bank isn't at fault there.
John
Saint Paul,Minnesota,
U.S.A.
I know where you're coming from
#6Consumer Suggestion
Tue, June 22, 2004
I sympathize completely with your situation. US Bank ripped me off for over $190.00 (Originally, almost double that, but they graciously gave back half along with a lecture).
I deposited my paycheck into an ATM on a Friday. I set my electronic billpay to send money to my creditors, etc., the following Monday, because I knew it took one day for an ATM deposit to be acknowledged. Suddenly, I was hit for hundreds of dollars of "bad check" fees and fees from US Bank.
When I complained, they said the policy was that "funds available" wouldn't be in an account for one full "business day" and that didn't happen until Tuesday. The bank actually hid behind a federal law meant to protect consumers to make money.
Recap: Check in ATM on Friday. Transaction logged next business day (Monday), BUT, funds "
not available" until Tuesday.
The kicker to all this was that the paycheck I deposited on Friday night was on a US Bank account from the same bank. So, if I had walked into the bank on Monday and deposited the check, the funds would not have been "available" until Tuesday. However, if I had walked into the bank on Monday and CASHED the check, US Bank would have been obligated by law to hand me the currency. I could have, then, immediately deposited the currency, and the funds would have been available right away.
Unable to comment on the logic, and determined to keep as much of my hard earned money as possible, US Bank just fell back on "its the policy and you were educated" and stole $190.00 from me.
I now use US Bank for one purpose. I keep a very small account (less than $20.00 balance, and usually about $1.00) active so I can cash my paychecks there for free, then I take the currency and deposit it all in my real bank. I always use a human teller, I often deposit change so it takes longer (for the tiny account), and when they need to have a supervisor confirm that cashing my paycheck is OK, I happily tell them to take their time. Heck, ask two supervisors! I also refuse their generous offers to switch to paperless monthly account statements. I want them to pay postage each and every month.
I recommend that all US Bank customers do something similar. Don't rage against them, don't send letters, don't sue in small claims (conciliation) court. It won't do any good. Just keep tiny little accounts (make sure they stay active), and cost the bank money each and every day.
John
Saint Paul,Minnesota,
U.S.A.
I know where you're coming from
#6Consumer Suggestion
Tue, June 22, 2004
I sympathize completely with your situation. US Bank ripped me off for over $190.00 (Originally, almost double that, but they graciously gave back half along with a lecture).
I deposited my paycheck into an ATM on a Friday. I set my electronic billpay to send money to my creditors, etc., the following Monday, because I knew it took one day for an ATM deposit to be acknowledged. Suddenly, I was hit for hundreds of dollars of "bad check" fees and fees from US Bank.
When I complained, they said the policy was that "funds available" wouldn't be in an account for one full "business day" and that didn't happen until Tuesday. The bank actually hid behind a federal law meant to protect consumers to make money.
Recap: Check in ATM on Friday. Transaction logged next business day (Monday), BUT, funds "
not available" until Tuesday.
The kicker to all this was that the paycheck I deposited on Friday night was on a US Bank account from the same bank. So, if I had walked into the bank on Monday and deposited the check, the funds would not have been "available" until Tuesday. However, if I had walked into the bank on Monday and CASHED the check, US Bank would have been obligated by law to hand me the currency. I could have, then, immediately deposited the currency, and the funds would have been available right away.
Unable to comment on the logic, and determined to keep as much of my hard earned money as possible, US Bank just fell back on "its the policy and you were educated" and stole $190.00 from me.
I now use US Bank for one purpose. I keep a very small account (less than $20.00 balance, and usually about $1.00) active so I can cash my paychecks there for free, then I take the currency and deposit it all in my real bank. I always use a human teller, I often deposit change so it takes longer (for the tiny account), and when they need to have a supervisor confirm that cashing my paycheck is OK, I happily tell them to take their time. Heck, ask two supervisors! I also refuse their generous offers to switch to paperless monthly account statements. I want them to pay postage each and every month.
I recommend that all US Bank customers do something similar. Don't rage against them, don't send letters, don't sue in small claims (conciliation) court. It won't do any good. Just keep tiny little accounts (make sure they stay active), and cost the bank money each and every day.
John
Saint Paul,Minnesota,
U.S.A.
I know where you're coming from
#6Consumer Suggestion
Tue, June 22, 2004
I sympathize completely with your situation. US Bank ripped me off for over $190.00 (Originally, almost double that, but they graciously gave back half along with a lecture).
I deposited my paycheck into an ATM on a Friday. I set my electronic billpay to send money to my creditors, etc., the following Monday, because I knew it took one day for an ATM deposit to be acknowledged. Suddenly, I was hit for hundreds of dollars of "bad check" fees and fees from US Bank.
When I complained, they said the policy was that "funds available" wouldn't be in an account for one full "business day" and that didn't happen until Tuesday. The bank actually hid behind a federal law meant to protect consumers to make money.
Recap: Check in ATM on Friday. Transaction logged next business day (Monday), BUT, funds "
not available" until Tuesday.
The kicker to all this was that the paycheck I deposited on Friday night was on a US Bank account from the same bank. So, if I had walked into the bank on Monday and deposited the check, the funds would not have been "available" until Tuesday. However, if I had walked into the bank on Monday and CASHED the check, US Bank would have been obligated by law to hand me the currency. I could have, then, immediately deposited the currency, and the funds would have been available right away.
Unable to comment on the logic, and determined to keep as much of my hard earned money as possible, US Bank just fell back on "its the policy and you were educated" and stole $190.00 from me.
I now use US Bank for one purpose. I keep a very small account (less than $20.00 balance, and usually about $1.00) active so I can cash my paychecks there for free, then I take the currency and deposit it all in my real bank. I always use a human teller, I often deposit change so it takes longer (for the tiny account), and when they need to have a supervisor confirm that cashing my paycheck is OK, I happily tell them to take their time. Heck, ask two supervisors! I also refuse their generous offers to switch to paperless monthly account statements. I want them to pay postage each and every month.
I recommend that all US Bank customers do something similar. Don't rage against them, don't send letters, don't sue in small claims (conciliation) court. It won't do any good. Just keep tiny little accounts (make sure they stay active), and cost the bank money each and every day.
John
Saint Paul,Minnesota,
U.S.A.
I know where you're coming from
#6Consumer Suggestion
Tue, June 22, 2004
I sympathize completely with your situation. US Bank ripped me off for over $190.00 (Originally, almost double that, but they graciously gave back half along with a lecture).
I deposited my paycheck into an ATM on a Friday. I set my electronic billpay to send money to my creditors, etc., the following Monday, because I knew it took one day for an ATM deposit to be acknowledged. Suddenly, I was hit for hundreds of dollars of "bad check" fees and fees from US Bank.
When I complained, they said the policy was that "funds available" wouldn't be in an account for one full "business day" and that didn't happen until Tuesday. The bank actually hid behind a federal law meant to protect consumers to make money.
Recap: Check in ATM on Friday. Transaction logged next business day (Monday), BUT, funds "
not available" until Tuesday.
The kicker to all this was that the paycheck I deposited on Friday night was on a US Bank account from the same bank. So, if I had walked into the bank on Monday and deposited the check, the funds would not have been "available" until Tuesday. However, if I had walked into the bank on Monday and CASHED the check, US Bank would have been obligated by law to hand me the currency. I could have, then, immediately deposited the currency, and the funds would have been available right away.
Unable to comment on the logic, and determined to keep as much of my hard earned money as possible, US Bank just fell back on "its the policy and you were educated" and stole $190.00 from me.
I now use US Bank for one purpose. I keep a very small account (less than $20.00 balance, and usually about $1.00) active so I can cash my paychecks there for free, then I take the currency and deposit it all in my real bank. I always use a human teller, I often deposit change so it takes longer (for the tiny account), and when they need to have a supervisor confirm that cashing my paycheck is OK, I happily tell them to take their time. Heck, ask two supervisors! I also refuse their generous offers to switch to paperless monthly account statements. I want them to pay postage each and every month.
I recommend that all US Bank customers do something similar. Don't rage against them, don't send letters, don't sue in small claims (conciliation) court. It won't do any good. Just keep tiny little accounts (make sure they stay active), and cost the bank money each and every day.