Complaint Review: Fifth Third Bank - Mt. Pleasant Michigan

"Eddie, you seem to be running under some false thoughts, so let me help you: 1. Bank deposits are not available immediately unless they happen to be cash, and even then the deposit won't post until all of your charges/debits post. See, you had already spent the money at that point and unless you can run faster than the speed of light, you will lose the race to the bank. So making a deposit in order to avoid an overdraft is pointless." Jim, You seem to be running under some fictitious assumptions of your own, but are the most coherent out of all three cogently composed responses I've seen, so let me help YOU, in addition to proposing all of the aforementioned points, made by the other two. Our first lesson begins with the meaning behind four words that when abutted, create a meaning implicit in their conjunction. The four words are: Balance, Available, Transaction, and Posted. All three of you seem like you can understand the meanings of those words and have a fairly decent grasp for the language. I'll spare you the indignity of providing definitions cited out of Websters in favor of presuming the knowledge, sufficient to grasp these weighty concepts pursuant to the issue I am reporting with Fifth Third Bank. "2. You asked why you were allowed to spend money on your debit card you don't have? The answer is because it's a debit card. When you took that little card, you agreed to make good on all spending on it, even if you don't have money in the account. The fact you asked that question tells me you know nothing about using a debit card, or the consequences associated with it." You see, when I printed out my statement, the next day, and saw the words, "available balance" next to a number sufficient to cover the offending transaction once more, it would imply that money was available to me, with which to cover the check, which according to the bank's representatives, had not yet cleared. How could that be? The "Balance as of 10/8/2008" shows that I had more than adequate funds, yet for some strange reason I overdrafted my account? My "Available Balance" which, implicit in the arrangement of words, stipulates that the funds I am requesting are "Available" is the exact difference between the "Balance as of 8 October", thus implying that funds have already posted to my account, and what's really funny is that the deposit I made to cover the transaction was posted, not in the pending transactions, but in the posted transactions, on the eight. "3. When you read other reports of people with this bank, or any other, you'll find most people to be completely ignorant of their money and their accounts. I would place you into such a category. It's clear you seem to equate debit cards and how they work with a debit card. They aren't even close to being functional equals." Unfortunately, Jim, a debit card is an exact equal of a debit card and this argument makes no sense, in light of the fact that while not all debit cards are created equal or propose access to equal amounts of cash, they do weigh about the same, are exactly the same size, and have a little magnetic strip on the back of them which functions to interface with the payment gateway where such cards are presented at points of purchase. I am not sure how debit cards work with other debit cards but I'll take your word for it. I'll spare you the indignation of elucidating further on my ability to manage my accounts with this bank. I use the internet regularly to check my balance. I will say, historically, I have had debit cards with other banks in the past and have never run into the sort, let alone frequency, of problems I have had with this institution. Go on about how "I should have known better... et al" "4. Be happy they forgave at least one of the fees. They didn't have to. You may even get mad enough to close the account. Let me assure you of this: all banks are the same. ALL OF THEM. They all charge the same, have the same policies, and your outrage at this bank would have happened at every bank." While she said she would, she has yet to, and I'm not happy, at all. I am perfectly aware that most banks are like this. The practice has given rise to a completely new market of Payday lending, where people who overdraw their accounts are then prompted to enter into a debt spiral with these lenders who charge an exorbitant interest rate. Fortunately, it's nothing compared to the overdraft fees assessed by banks, making it slightly more tenable for these consumers to take Payday loans. "5. Finally, get rid of your debit card. Aside from the fact you don't understand what it is or how to properly manage your account with it, it will do nothing but cost you money you don't want to be parted with. If you stop using the debit card, keep a check register, stay off their online system to determine your bank balance (no online system is accurate and besides, your balance is in your check register) and deal primarily in cash and checks, you'll be far better off and keep more money in your pocket." So, you, someone who attempted to earlier explain how a debit card works with another debit card, are proposing that I don't understand what "Available Balance" and "Posted Transactions" mean. You're assumption is that I don't read my account, on-line, or have a full grasp for everything stipulated on the statement. How about if you take your computer back to the manufacturer with a note that says you have abused it by posting error ridden messages? "Full Disclosure: I do not work for this or any bank. I simply know how to handle my money and other people's money. Best of luck to you." Full Disclosure: Does it really matter, if you do? Personally, I think you're a lonely troll looking for people who are down on their luck to poke fun at for your own amusement and perhaps to compensate for some short-coming which has you feeling badly about yourself.

Eddie, you seem to be running under some false thoughts, so let me help you: 1. Bank deposits are not available immediately unless they happen to be cash, and even then the deposit won't post until all of your charges/debits post. See, you had already spent the money at that point and unless you can run faster than the speed of light, you will lose the race to the bank. So making a deposit in order to avoid an overdraft is pointless. 2. You asked why you were allowed to spend money on your debit card you don't have? The answer is because it's a debit card. When you took that little card, you agreed to make good on all spending on it, even if you don't have money in the account. The fact you asked that question tells me you know nothing about using a debit card, or the consequences associated with it. 3. When you read other reports of people with this bank, or any other, you'll find most people to be completely ignorant of their money and their accounts. I would place you into such a category. It's clear you seem to equate debit cards and how they work with a debit card. They aren't even close to being functional equals. 4. Be happy they forgave at least one of the fees. They didn't have to. You may even get mad enough to close the account. Let me assure you of this: all banks are the same. ALL OF THEM. They all charge the same, have the same policies, and your outrage at this bank would have happened at every bank. 5. Finally, get rid of your debit card. Aside from the fact you don't understand what it is or how to properly manage your account with it, it will do nothing but cost you money you don't want to be parted with. If you stop using the debit card, keep a check register, stay off their online system to determine your bank balance (no online system is accurate and besides, your balance is in your check register) and deal primarily in cash and checks, you'll be far better off and keep more money in your pocket. Full Disclosure: I do not work for this or any bank. I simply know how to handle my money and other people's money. Best of luck to you.

Eddie, you seem to be running under some false thoughts, so let me help you: 1. Bank deposits are not available immediately unless they happen to be cash, and even then the deposit won't post until all of your charges/debits post. See, you had already spent the money at that point and unless you can run faster than the speed of light, you will lose the race to the bank. So making a deposit in order to avoid an overdraft is pointless. 2. You asked why you were allowed to spend money on your debit card you don't have? The answer is because it's a debit card. When you took that little card, you agreed to make good on all spending on it, even if you don't have money in the account. The fact you asked that question tells me you know nothing about using a debit card, or the consequences associated with it. 3. When you read other reports of people with this bank, or any other, you'll find most people to be completely ignorant of their money and their accounts. I would place you into such a category. It's clear you seem to equate debit cards and how they work with a debit card. They aren't even close to being functional equals. 4. Be happy they forgave at least one of the fees. They didn't have to. You may even get mad enough to close the account. Let me assure you of this: all banks are the same. ALL OF THEM. They all charge the same, have the same policies, and your outrage at this bank would have happened at every bank. 5. Finally, get rid of your debit card. Aside from the fact you don't understand what it is or how to properly manage your account with it, it will do nothing but cost you money you don't want to be parted with. If you stop using the debit card, keep a check register, stay off their online system to determine your bank balance (no online system is accurate and besides, your balance is in your check register) and deal primarily in cash and checks, you'll be far better off and keep more money in your pocket. Full Disclosure: I do not work for this or any bank. I simply know how to handle my money and other people's money. Best of luck to you.

Eddie, you seem to be running under some false thoughts, so let me help you: 1. Bank deposits are not available immediately unless they happen to be cash, and even then the deposit won't post until all of your charges/debits post. See, you had already spent the money at that point and unless you can run faster than the speed of light, you will lose the race to the bank. So making a deposit in order to avoid an overdraft is pointless. 2. You asked why you were allowed to spend money on your debit card you don't have? The answer is because it's a debit card. When you took that little card, you agreed to make good on all spending on it, even if you don't have money in the account. The fact you asked that question tells me you know nothing about using a debit card, or the consequences associated with it. 3. When you read other reports of people with this bank, or any other, you'll find most people to be completely ignorant of their money and their accounts. I would place you into such a category. It's clear you seem to equate debit cards and how they work with a debit card. They aren't even close to being functional equals. 4. Be happy they forgave at least one of the fees. They didn't have to. You may even get mad enough to close the account. Let me assure you of this: all banks are the same. ALL OF THEM. They all charge the same, have the same policies, and your outrage at this bank would have happened at every bank. 5. Finally, get rid of your debit card. Aside from the fact you don't understand what it is or how to properly manage your account with it, it will do nothing but cost you money you don't want to be parted with. If you stop using the debit card, keep a check register, stay off their online system to determine your bank balance (no online system is accurate and besides, your balance is in your check register) and deal primarily in cash and checks, you'll be far better off and keep more money in your pocket. Full Disclosure: I do not work for this or any bank. I simply know how to handle my money and other people's money. Best of luck to you.

Didn't anyone ever explain to you that checks have to clear before they become available to spend? Or did anyone explain to you that debit cards do not work like credit cards, and you cannot assume they will be declined if funds are not available? You would do well to take the time to go into your branch and ask a CSR if they will explain to you how it works, and how you can avoid making these same mistakes in the future.

Didn't anyone ever explain to you that checks have to clear before they become available to spend? Or did anyone explain to you that debit cards do not work like credit cards, and you cannot assume they will be declined if funds are not available? You would do well to take the time to go into your branch and ask a CSR if they will explain to you how it works, and how you can avoid making these same mistakes in the future.

Didn't anyone ever explain to you that checks have to clear before they become available to spend? Or did anyone explain to you that debit cards do not work like credit cards, and you cannot assume they will be declined if funds are not available? You would do well to take the time to go into your branch and ask a CSR if they will explain to you how it works, and how you can avoid making these same mistakes in the future.

Didn't anyone ever explain to you that checks have to clear before they become available to spend? Or did anyone explain to you that debit cards do not work like credit cards, and you cannot assume they will be declined if funds are not available? You would do well to take the time to go into your branch and ask a CSR if they will explain to you how it works, and how you can avoid making these same mistakes in the future.

I think the root cause of the problem is not understanding how the availability of funds work. Generally speaking, banks make the first $100 available when you deposit a check and the rest of the funds are usually (not always) available the next business day. There are exceptions to that, such as deposits made on weekends. From what you wrote in the report, I don't think that you're a bad guy or that you tried to float funds. I do believe it was a genuine mistake. However, this isn't a ripoff on the part of the bank. You did authorize those transactions and guaranteed payment. You also signed a statement that said you agreed with the terms and conditions of the bank and that includes the overdraft fee. It seems to me that the bank is being very reasonable and trying to work with you. In the future, be mindful of the funds that are actually available in your account. What I do is write a $100 credit in my check register when I make the deposit and then I'll write in the rest of the funds when I see that they are available.