CB
United States of America#2Consumer Comment
Mon, May 03, 2010
Your inability to submit a comprehensive report of your problem, and your ignorance of the function of the caps-lock key indicate that you will most likely not understand the solution I propose. But if anyone else reads this, it may help them. I've had Fifth Third for years and never had a problem with them. At midnight every business day, all the deposits you made that day are applied, and made available. If you deposit a non Fifth Third check, they usually make the first $100 available until the check clears. After that, all the withdrawals are posted, largest to smallest. That's how they do it, and they do it the same for everyone. It may be because it makes them more money when something bounces, but as long as you don't try to spend money you don't have, you will never have a problem. Sometimes Visa Check Card pre-authorization will be added for things such as gas pumps. They usually will make a pre-authorization of $50, no matter how much gas you buy. They do this because when your card is processed, they have no idea how much gas you intend to buy, so they have to make sure you have enough money available. The simple solution for this is to walk inside and pre-pay for your gas. These types of transactions are made by the store, and the bank has no control over it. So, depending on when these vendors post the actual transaction amount, your account could show an available balance lower than what it really is. Again, this is the vendor where you purchased something, and they are just following the rules of credit cards, which they can do because of the Visa logo. Instead of the creditor picking up the difference, you have to. Also, keep track of all withdrawals including checks, Visa Check Card transactions, and ATM withdrawals. Make sure they have all posted before you assume that the available balance is correct. This, again, is because some vendors wait for one time during the day to post all transactions for their store. Fifth Third, or any bank, has no control over that. It sounds like you are not keeping accurate records, and are just relying on what the internet banking site tells you is your available balance. You cannot do that unless you keep a buffer amount in your account. My checking balance rarely drops below $1000, so even if I forget a few small transactions, there is enough in there to cover them. Most problems people have are because of Visa Check Cards. You have to remember its not processed like an ATM card, where the amount withdrawn is instantly reported to the bank. Some stores wait till midnight to post all the days transactions. This is the price you pay for convenience.