Complaint Review: Fifth Third Bank - Nationwide

Amazing post. First of all you try once again to claim that you're the victim in all this. And then you threaten violence to try to support your claim. It's said that once you resort to name calling/threats/profanity you've lost the debate. This site is a public forum and only the admins can determine which posts are approved and which are not.

Oh well, as far as you not reading my post, nothing new. You haven't read any of the posts since they didn't support your victimhood. There are none so blind as those who refuse to see.

This is a Public Web site, and as such the PUBLIC is allowed to post, and this may be a shock to you but not everyone will agree with you.

Since you are so willing to bait the water, I might as well and oblige your thirst.

So let me just make a few points very clear.  The difference about the bank saying that they will charge you $37 if you overdraft and you saying you will charge me if I post again.  Is that unlike the bank that specifies their terms at their bank.  You do not own this site, you have no administrative nor decision making authority on this site.  You are nothing more than a poster, just like the rest of us.  So if you want me to be charged $37 for every time I post on your comments..contact Ed.

Now, yes I understand that I frustrate you.  I understand that I infuriate you more than others.  I understand that I disgust you when I use your own words against you proving your inaccuracies.  I even understand how even though you seem to think I have the least constructive to say..you spend the most time "attacking" me.

The reason for this is simple.  Just like the bank in this case, I am right and your mind can't comprehend that fact.  Now, the reason I confound you so much is that I am so matter of fact. I see through peoples ulterior motives.  I provide statements that you can't argue against without making your previous statements look foolish.

You have shown yourself to be the typical "complainer"  When you can't defeat the various arguments you totally ignore the message and go after the messenger.  Not only trying to use disparaging comments but now threatening physical violence against other posters.   Where if you did what you really said and "take care" of it in person you would be arrested.

As for hypocrisy..sorry nice try.  I have not waivered in anything I have said.  I practice what I "preach".  I maintain a "written" register.  I monitor my accounts to make sure I don't overdraft.  I don't even have a single auto-debit.  Oh and one other big thing. I don't overdraft.

 Now your a stalker. Conversations cease from this rebuttal. No further communication will be acknowledged. I've never seen a bigger idiot than you. To bad I can't meet you in person. I'd be settling this in a totally different venue. You have to do this with a stalker like you. Get a life. Do not reply, your stalking is over.

when people who complain of the spelling & grammar of others mispell words like "your"

when people who do nothing but sling insults claim others are being bullies

when people claim a public forum is closed because no one supports their position

when people who cause themselves overdraft fees say they know how to run a business or a bank

Priceless (except for the $37 fees you spent)

 At last, someone has offered an idea. Use a credit card to stop auto debit overdraft fees from happening. Unfortunately, it sounds like jumping out of the frying pan and into the fire. Sadly, many banks won't issue credit cards to their customers with FICO scores under 600. What your suggesting sounds risky and doesn't eliminate the real problem. What ever happened to overdraft protection? In the old days if you over drafted the bank would automatically move some savings over to checking. The fee for this service was reasonable. You didn't end up giving the bank your weekly paycheck. Look, I haven't heard one rebuttal from anyone who's been hit with these fees. I have to assume they don't look at this site or they don't wish to lend their opinion. Until such time as someone out there can relate to what I'm saying in my premise, I believe this topic has exhausted itself. Time for everyone to move on.

 I can't believe the book that you just wrote! Volumes of the exact same thing anyone else with a fraction of command with the English language could have said in 2 sentences. You must really have a ton of time to write this novel. I'm truly sick of you being a hypocrite. Your "rants" as you call it far exceed any other rebuttal. Your constant negative remarks are so repetitive that I skip over 3/4 of your rebuttal trying to find something worth reading. Sadly, you offer nothing but taunts and spoiled brat words. You really need to be useful somewhere else. Perhaps you'd be best at becoming a parking lot attendant at your local Dairy Queen. I am charging you a $37.00 overdraft fee starting with your next worthless rebuttal. I suggest you stay away from the premise I originally set. You've never come close to being anything more than some pseudo attorney for the banks. $37.00 is now in writing. That means you understand the rules I've now set forth. If you have any character, which I doubt, you will exit this site and never return. Let me do something that banks won't do, put this in simple English for you. Stop adding your worthless rebuttals and go to work at your local Dairy Queen.

You could pay the auto debits with a credit card. The credit card bill is due about 20-days after the billing date. That will prevent the overdrafts and you’ll earn reward points. Problem resolved.

You will of course have to change your attitude as per your statement, “It doesn't matter what I signed…”

After 25-years of overdrafts it may be time to consider a different path.

If you are going to try and keep this "Class Warfare" going at least come up with better arguments.

If someone has more money going out than coming in, that is not the fault of the bank.  If a person has to choose between over drafting and defaulting, what if they choose defaulting?  Would you be here writing about the "big evil company" forced them into default?

If a person has issues with the IRS, that is not the fault of the bank.  If a person has bad credit and some utility is requiring auto debit in lieu of a deposit that again is not the fault of the bank.  Now yes I get it...You have to have a scapegoat for your problems and for you it is the "big evil bank".  Where they can do no right, and you are not responsible for anything that happens. If you want to believe that go for it, as nothing here is going to change your mind.

However, on one aspect you do realize that a majority of account holders do not overdraft.  In fact depending on the report you read only about 5-20% of the people overdraft.  What does this mean?  Well that anywhere from 80-95% of the people DO NOT.  So based on your other posts where you infer only the rich can avoid overdrafts is 80% of the population rich?  Kind of contrary to your 1% mantra isn't it....

 So If they are not rich then you must ask yourself what is the key?  Ummm....well perhaps this one statement you made may say it all.

Ha says the banker. We won't auto transfer that line into your checking account, you have to initiate it.

- Yea...and the problem with this is what? If you take responsibility over your account by keeping a register knowing what is going out.  You can "initiate" the request in plenty of time of going negative.  Failing to manage your account has nothing to do with the "big evil bank" it only has to do with your lack of responsibility.

But let just one bank advertise a fee lower than $37.00,and they will see a mountain of new customers

- Yes and these customers will be the ones who are the chronic over drafters.  The ones who tend to have less than favorable credit.   The funny thing is that in the end a bank charging a lower fee may actually make them more money.  After all look at the shock and horror you have displayed by the $37.00 fee.  To the point while I doubt you will ever admit it but I am sure you are now taking further steps to try and avoid getting this fee in the future. Had they charged you $10 would you be here complaining?  By your own posts..No.

In fact it may be quite the opposite and you may not find that bad of a "penalty" and figure what is $10-$20 a month to help you get by.  Of course 1 year later instead of 3 or 4 $37 fees a year your two OD's a month has now sent them $240 in fees. 

In the end regardless of the "Class warfare" or the "1%" talking points you try to bring up.  In the end it comes down to one thing.  A person taking responsibility for their actions.  Whether or not you will ever understand this may never be known.  But hopefully eventually some of what people have tried to tell you will sink in.

Good Luck, but it is time to just let you rant on so I still totally expect you to come back with a whole new set or rantings why your "new world order" will reign supreme. Also, in all of this you still have failed to give us the name of this Dead Chicago Banker...

 The written word. A contract, a disclosure, anything that banks can use to distort, mask or hide the details is fair game to an unsuspecting customer. Banks have destroyed people's lives using the printed word. You and other bankers are so full of your employers B.S. That you try to sell it as if it's a religion. Guess what, people are getting smarter in understanding the ways that banks operate. The more they understand the worse it gets for bankers and banks. Case in point, credit cards. The younger generation is beginning to avoid them. The banks say, No,No, they help establish credit. You need them! Ha Ha fools, you don't need them! Just another hook to get you to borrow money. Banks want you to borrow money, they make their money this way. Moving forward, so everything is my fault! I'm to blame for overdrafts. I should quit crying and pay up.whatever greedy amount was decided upon and which I agreed to by "the written word". Our country is in deep trouble because of people being screwed by words that because they are in writing makes rebuttals difficult to argue. Banks and bankers lawyers are prime examples of how putting their daggers into words screw over people as they don't understand what they agreed to in writing. Back to overdraft fees. What you have failed to understand over and over is people cannot just pay cash so they don't overdraft. People who are in trouble financially have to allow creditors to automatically withdraw funds or be placed into default. The IRS, utility companies, insurance companies and others demand auto debit or else a person can face having to put large deposits up to stop auto drafts. Get your halo head out of the clouds banker boy! When faced with this type of situation , it's far to easy to overdraft. Banks who are on their game realize this. Thus, hello giant overdraft fees. At this moment Fifth Third slits your throat with a $37.00 overdraft fee. Oh but it's your fault says the banker as he greedily counts the money lost be its problem customers. We can help you avoid this, just let us know. So you take out a line of unsecured credit. Ha , Ha says the banker. We won't auto transfer that line into your checking account, you have to initiate it. To bad by the time you've discovered the overdraft, it's to late to fix it even if it's within 10 seconds of the draft. So sorry pal, pay us and be careful not to do it again! Remember, you agreed to the written word, our written word! What's a fair overdraft fee? Who cares, no one customer will make any difference giving his/her opinion. But let just one bank advertise a fee lower than $37.00, and they will see a mountain of new customers. No one intends to overdraft. But that's not reality is it Mr. Banker?

Over all of your posts you are shown to be the one who just doesn't get it.  But since you seem to have some sort of memory issue let me do what you want to do and go back to your original premise

You made the following statement.

Why can't someone like you with the limited education you have understand that I am objecting to the gouge set in place by Fifth Third and other banks for an overdraft check?  What barrier can't you seem to get over that keeps you and others from acknowledging the premise?

I don't think anyone here is failing to acknowledge your premise....we are just telling you that your premise is wrong.  The reason is that they and every other bank fully discloses the fees.  You are given a list of their fees when you open the account and can view their fees at any time.  At no time is this(or any other) fee "hidden".  If you truly objected to this fee the time to do that was BEFORE you opened the account, by NOT opening the account.   But you not only opened the account, you allowed your account to get into an overdraft status.  Therefore the bank did exactly what it said it would..charge you the overdraft fee.

But let us continue looking back at the rest of your premise.

That you were charged these "exorbitant" Overdraft fees because of bad timing of Auto-Debits. Based on that premise, you were given a piece of very sound advice.  Cancel the Auto debits to avoid this timing issue.  You tried to defer and distract in your various posts, but have failed in showing how that advice is wrong.

Now did you ever come out and use the exact words that you over drafted "Checks"..no.  But this is also your failure.  It doesn't matter if it was a check, an ATM withdraw, or a Pre-Authorized Auto-Debit.  An overdraft is when more money is withdrawn from your account than you have currently available.

Did you ever say that zero penalties should be assessed..again no.  However, you have given every indication and inference that YOU should not have been assessed any. 

But let me give you a chance here, you said that the fee is excessive.  Since you feel it is exorbitant and you have mentioned the general limits of this fee you must have some fee in mind as a basis.   So what do you think that a "fair" overdraft fee would be?   Of course keep in mind that what you "think" doesn't matter...because the fees that they charge was fully disclosed to you.

It's official, Ripoffreport.com is infested with idiots like you.

I hate to bring this down to such a primitive level but you've forced me to.

Let's take a look back at my original premise.  Where does it say that I overdrafted checks?  Where does it say that I believe zero penalities should be assessed by the bank?  

Why can't someone like you with the limited education you have understand that I am objecting to the gouge set in place by Fifth Third and other banks for an overdraft check?  What barrier can't you seem to get over that keeps you and others from acknowledging the premise?

When an idiot attempts to debate someone whose clearly superior, there can be no debate.  It's like playing chess with someone who only knows how to play checkers.

Be a good boy and sit out from now on. Have a glass of your chocolate milk with your peanut and jelly sandwich.  You are obviously a little boy who gets his kicks disrupting conversations with adults.

1) You're the one being a jerk.

2) You're lying. Since you don't have enough intelligence to keep from causing yourself OD fees, you wouldn't be able to run a successful bank.

But that's okay, keep up your victimhood. Even though you got plenty of good advice on how to prevent you from causing yourself fees, you insist that you know best. So drive on. The people getting free accounts because you choose to pay OD fees thank you.

 I am keeping my rebuttal of your remarks on an 8th grade level so as not to draw any more "bankers" like you into this discussion. I am not a crook, so I don't belong in the banking business. If I were to open a bank, I'd have more customers than I could handle. I'd make more money legitimately and without the need to kick my customers who are having financial problems. Overdraft fees would be 1/2 of any other banks fees. And one more thing about my bank. All deposits would be backed up with a Gold reserve. If customers wished to receive their money in Gold tenure, they would be able to do so and immediately that day. Bankers are like used car salesmen. Only used car salesmen are more honest.

is one more tactic of the "victims" who post here, when you can not logically argue against the message, disparage the messenger.

Since your the one saying how banks should operate and how only you get it, then you should do it. Not being sarcastic, just encouraging you to prove that you know more than any of us about the banking business.

By the way, I've had better putdowns from my 8 year odl grandson.

 You must sit home and scan Ripoff to see what kind of nonsense you can come up with. You have nothing to say about my premise other than to suggest I open a bank so I can fail at it. What incredible intelligence you have. By your foolish comment it could be concluded that you've never run your own business, would have no idea how to go about it let alone succeed. If you cannot or will not address the premise of my original post, do everyone a favor and return to high school to get your G.E.D.

this is a public forum where anyone registered can respond to a post.

As far as being a jerk, it seems the only one on this post being that is you. Several people have posted, using manners and truth and you respond with sarcasm and name calling. That may be part of your problem with the bank.

Where does someone like you come from? You have nothing to say except to be a jerk.

Well, Swamper, since you and you only truly understand how a bank should be run, open one. United Bank of Swamper. And after you institute all of the ways to run a bank that you know, see if your bank is successful.

 Dear Jim: Your rebuttal has excellent points and which others who read it can benefit by. The only point I take exception with is that banks aren't all that bad. I have watched every video on You Tube that explains how banks work, how they use other people's money to finance their business's and how they have raped people over the last 150 years. Even today, they shroud themselves so their customers have no idea what their really up to. The Federal Reserve is a PRIVATE bank. Who owns it, who controls it? The last attempt to disband it was by John F Kennedy and he died before completing the dismantling of it. There is a book out that tells us of a secret sect of businessmen that held a meeting on a remote island. They are the architects of a secret banking empire backed by our Goverment. I find bankers to be a wolf is sheep's clothing. Otherwise, thank you for being logical and truthful.

The problem is your points have no merit today...  The fees impacting you are and will always be completely avoidable by the consumer if sufficient action on the part of the account holder is taken.  It means keeping track of every transaction with the bank in a check register.  Even account maintenance fees are avoidable, providing there is a sufficient balance in your account, as you already said.  These are rock solid solutions that will avoid a cardholder from suffering an OD fee.  You may not like that answer (I get it), but it is a solution.  Do I think the government will step in and change the rules or laws on this??  If they didn't change in 2009-2010, they're not going to change now.

Do banks rearrange debits from highest to lowest??  Yes.  Do they do it to maximize their revenue??  Yes.  On the other hand, as a lawyer indicated in court in a lawsuit involving whether the disclosure of fees was sufficient, even the lawyers suing the banks acknowledged the bank was well within its right to maximize its revenue.  The lawyer simply argued the disclosure of the fees was insufficient.  The lawyer was not going to argue morality of the fees because it's an irrelevant issue for both a court and for the bank.  Neither would the lawyer argue its legality because the fees are legal.  Do the OD fees represent a major revenue stream for the bank??  No.  They make far more on interest on loans and interest on CC.  OD fees generally don't represent much revenue for the bank (maybe 3%-5%) - even though people who hate banks say otherwise.  In reality, banks are really only as evil as you allow them to be.

Now the source of your problem - really is your debit card.  The debit card makes the tracking of the balance in your account a bit harder since the debit card use speeds you through a line generally before one has the opportunity to write down the transaction in a register.  If you don't keep track of your balance, the use of a debit card can really cascade NSF fees into an individual's account.  That's what you're seeing and what you're experiencing.  The debit card is really the bane of your existence in this situation.  Accordingly, the solution is not to use a debit card for any reason, except to withdraw cash from an ATM.  I only use a debit card to withdraw cash - I either pay cash when the bill is under $20 or use a credit card for more than that.  I wish it were a more complex solution, but it really isn't.  If you want to stick it to a bank...stop using their debit cards for individual transactions.

Best of luck to you....

 Dear Robert. Your rebuttal almost succeeded to address the overdraft fee problem I am raising with my original premise. Unfortunately, once again you just fall short with your advice and reply. To clarify,banks like Fifth Third will charge customers a monthly service fee for their checking account unless they deposit a large amount of money into their account and hold that amount on a monthly basis. This has nothing to do with overdraft fees. I am showing how the gouging of customers is taking place on multiple levels. Next, you fail miserably to understand the premise. It is useless to go over this with you again, you and others like you are what's wrong with this Country. To have a constructive argument with someone, they must be willing to see both sides of the issue. You will not acknowledge my side of the argument. Therefore there can be no discussion. Finally, who are you to demand or even request my source in this matter? Last time I checked I don't owe you anything and you certainly aren't signing any of my checks. I'm thrilled that you don't require a Payday loan, unfortunately many other people rely on them. To continue to watch poor people pay astronomical fees for this service is a heart wrenching feeling on my part. For banks like Fifth Third and others, overdraft fees is a major source of their revenue base. This means tens of thousands of bank customers are being hit with abusive fees. While not illegal, I'm saying its abusive. Customers should complain and yet they take the hit because they don't have the money or the will to fight back. Your advice is to remove the money out of the bank. That's one feeble course of action. Your advice is to not overdraft. Again, the numbers say otherwise. I can't tell you to stop writing me, that's your prerogative .ll It's when you demand or insult me, it just shows how weak your prose is.

Sometimes it is very interesting to just let the original poster spin and twist themselves into such a knot that even the best boy scout couldn't untie.

So let's recap....the original posters "complaint" was that the timing of the auto debits caused all of their problems.  Well even though they have gone round and round, had more twists and turns than the newest roller coaster, and more conspiracy theories than the JFK assassination.  There isn't one statement they made that would take away the fact that all they would need to do is stop the auto debits to fix their cash flow problem if timing was really an issue.

They try to use other areas such as asking if we would pay 300% for a Payday loan. Of course not.  Which is why I will not take one out.  They could charge 3000% it is still YOUR choice whether or not to take one out. I have yet to hear of a single payday loan company kidnapping people off of the street and forcing them to take out a loan.  But this has nothing to do with your original complaint.

I can say with just about 100% certainty that everyone who has posted here hates overdraft fees, and does what ever they can do to AVOID them all together. 

The original poster also seems to have an acceptable "fee".  Basically $3 for every $100.  IF we calculate that out it comes to about 3%.  If you find a bank that does that...great take all of your money out of this bank and go there...immediately.  But before you do, you better be sure you understand ALL of the terms of the bank.  As I am aware that some of the banks that have these programs still have limits to them, they have a period of time you must pay it back, and you generally must get this "loan" in advance of overdrafting.  Meaning that if you don't do proper account management of things like keeping an accurate register, you are still going to overdraft and pay their overdraft fees.

The fact is that in all of the "banking reforms", "class action lawsuits", and other various government actions not a single one of those has ever said that the amount of the overdraft fees were illegal or need to be capped.

You go off on how you have to have huge reserves and infer that only the rich can avoid overdraft fees.  Well guess what...that is wrong and just part of your excuse machine to not take responsibility for your actions. Because they don't charge you an overdraft fee if you have $100 in your account.  They wont' even charge you a fee if you have $0.01 in your account...unless you attempt to spend $0.02.

So in the end you can go off on all of your tangents, or actually look at what people are trying to tell you. One path keeps going down the road of overdraft fees, one doesn't.  I'll let you figure out which one is which.

Good Luck...

 

Oh and I am still waiting for the name of the Dead Chicago Stock Holder who gave you all of this sage advice.

 You and the other rebuttals all sound like a broken record. You signed this and your at fault and so on and so forth. Not one of you has the decency to admit the truth. All of you have broken rules that have been put before you. You especially are a major hypocrite. It must be hard to carry that Halo on your head. In any of my texts did I ever say I wasn't at fault? Did I ever say I didn't believe I shouldn't be charged an overdraft fee? Try to read this next part very carefully. I am outraged, and feel it's criminal to charge $37.00 for an overdraft. Let me say this again. Fifth Third and any other bank that gouges its customers should be boycotted for kicking people when they are in trouble. Let me go one step further. There should be an opportunity given to the customer to bring his/her account current immediately (before noon the following day) in which case overdraft fees would be reduced. I'm not telling a bank by how much, but I am suggesting a reduction. This would show customers that their bank isn't just a bunch of greedy conservatives. It doesn't matter what I signed especially since the wording is abstract, full of legal jumbo, to lengthy to read and digest, and so one sided you would have to hire an attorney to des ciphers all the legalize to understand it all. The premise, the main purpose of my complaint against Fifth Third bank and others just like it, is: They gouge their customers on overdraft fees. If you or anyone else cannot or will not understand my premise, It just shows me and others just how bad greed and bad people continue to destroy this country. I'm done reading any more of the same broken record rebuttals that have appeared so far. Where is another voice out there?

You claim that Jim is making incorrect assumptions about you and then you presume he's a banker due to his comments. Amazing. By the way, one of the most common things for people complaining about overdrafts to do on this site is to claim that anyone who posts something they don't like must "work for the bank".

The point most of the people are trying to make is that except for the rare bank error, the only person who can cause an overdraft on the account, is the account holder(s). If you spend equal to or less than the available balance you get no fees. If you spend ,ore you cause the fee. The bank told you the amount of the fee when you opened your account. You accepted the amount when you opened and continued to use the account. Now, when you don't live by the rule of keeping the balance positive you're upset the bank play by the rule of charging you the agreed on amount per overdraft.

Only you can cause the overdraft and only you can stop them. And No I don't work for them either.

“Electronic banking has removed the human touch… I do not accept this way of banking.”

Well that’s fine. You stay in the last century with your Rubik’s cube, VCR and Instamatic Camera; but the rest of us have moved forward.

You should continue to shout from your soapbox and violate the terms of your account agreement. Your overdraft penalties pay for the free accounts enjoyed by other account holders.

 Wait a minute, hold everything! That's quite an assumption Jim that I need a 2nd job, and I'm not on Welfare and that I whine and cry! Don't ever presume to know how much money is in another persons wallet. Don't presume to know that I have good health or have the ability to work and finally, your whinnying and crying name calling shows me you bash people who feel the status quo of overdraft fees is perfectly acceptable. Do you also feel that business that give out payday loans are entitled to charge 300% on short term loans?

If you do feel it's acceptable than you can never grasp what I am advocating against with Fifth Third and other greedy banks who gouge customers on overdraft fees. Our country is in trouble because greed has become acceptable. Electronic banking has removed the human touch. No longer can you talk with a banker who will maybe help you out. Everything is cut and dry, black or white. I do not accept this way of banking. It's one thing to pay a reasonable price for an overdraft but entirely another to be gouged. If you can't see the difference than I presume your a banker. They don't see any problem what so ever. In closing, I find your attitude disturbing. Instead of looking and commenting on my premise, you have instead choosen to attack my character. i will continue to call Fifth Third out for gouging customers who are forced to pay overdraft fees.

 At this point, you can either continue whining about everything and blame everyone else for your problems...or...you can start this very second to improve yourself and excell as a human. The choice is yours. You can decide now to never, ever again pay any bank an OD fee by keeping records and properly managing you account thus keeping the OD fee amount for yourself...or...you can continue doing it the way which brought you to having your money eaten up by OD fees. For your cash flow problems, you can cry and whine or you can supplement your income with s part time job to bring in more money and pay off your debts and resolve to not live on credit. All of this is entirely in your hands. Unlike the majority of those who whine about OD fees, your writing quality is excellent. You write very well so we know you aren't stupid or a welfare case. You have the ability to turn around your situation. The huge question is: "Will you?"

 The middle class would fail if there weren't banks? It's because of poorly run banks and the criminals who run them that our economy is in the shape it's in. Bankers were given blank checks by our government to float their criminal misdeeds. Banks took that money and gave raises to their directors, and kept the rest without helping anyone. Money was impossible to obtain for any kind of loan. What planet were you on in 2008? Fifth Third and other banks do not hold the key to home mortgages. In most cases their rates are out of line with better sources of lending entities. You probably think the federal reserve is a Goverment institution! No bank is floating anyone's checking account. Just the opposite, they are profiting from checking accounts especially those that become overdrawn. Stop doing auto debit is your answer to overdrawn accounts. Then good-bye to some health insurance companies that will only do auto debit. So long to life insurance as they want auto debit. Utilities will charge huge deposits in some cases unless you auto debit. Banks love auto debit, they love those overdrafts. Bank customers are not the villains as you make them out. The real villains are the bankers. It's time to stop all banks from gouging customers with overdraft fees and monthly fees if you don't have thousands to leave in a savings account.

“This bank and others like it must be boycotted by the working class public.”

That would cripple the economy. If businesses were unable to borrow money then they would be unable to expand and hire new employees. Without loans, most of the working class would be unable to afford homes and automobiles.

“It's no longer possible to control when money is withdrawn by a transaction.”

Robert posted the simple remedy: Cancel your auto debits.

“Fifth Third bank is preying on customers who are in trouble with their finances.”

You are being penalized for attempting to obtain short-term unapproved loans by floating debits. Do yourself a favor by getting that under control.

 To defend a banks overdraft fee which is so excessive it should be criminal is simply ludicrous. To say it's OK to punish someone who's having financial difficulties is just plain mean. 25 years ago my neighborhood bank would allow someone who's overdrawn on their account to have until 11:00 a.m. the next day to bring their balance into the black without incurring any fees. Today, by the time you realize your account has become overdrawn, there is nothing that can be done to stop the "hit". When did it become acceptable for Fifth Third and other banks to steal someone's money because of an overdraft? I read that banks make over 7 billion dollars a year on overdraft fees. Stop defending their practices as acceptable. Electronic banking has taken away a customers chance to rectify a mistake. It's no longer possible to control when money is withdrawn by a transaction. Many bills are auto debit.

There is no way to delay them if you are in trouble. Even with credit reserve, the bank will not electronically move funds to cover an overdraft. It's not an option. For example. There's $500.00 in your checking account. A direct deposit is set to arrive every 2nd day of the month. 2 auto debits come through, 1 on the 2nd and 1 the following morning. The 2checks exceed the current balance by $35.00. The auto deposit is registered on the 3rd of the month. Nevertheless, 2 overdraft fees are leveled against the account. 37.00 x 2. Because the bank won't automatically move credit reserve to cover the short fall, your out $74.00.

The fee of $3.00 to borrow $100.00 on credit reserve pales in comparison of making $74.00 and that's why Fifth Third doesn't offer this service. To those who say take out your money and put in in your mattress, or come to the conclusion that you can't keep a checkbook balanced are completely missing my point. Fifth Third bank is preying on customers who are in trouble with their finances. They charge fees on overdrafts that should be illegal. They show zero compassion for people who are in trouble. They block their own services to their customers to gouge them with hellacious fines. People are human, they will make mistakes. Fifth Third and banks just like them will continue to fleece their customers So long as people let them

 If all it took was to settle your checkbook every month, then life would be so easy and banks would never make a nickel as everyone is rich, has bontiful reserves of cash and no one would ever need to carry A balance on their credit cards. Life doesn't work this way, and banks know it. People have zero left after paying their bills. If even one hiccup occurs with their cash flow they are in trouble. In your world, banks are harmless entities who serve the people. Fifth Third bank rapes the people who can least afford their services. If all banks are the same then people are in deep trouble. Find a bank that cares about its customers and people will switch to join up.

 ....if YOU don't know or want to properly manage your account. YOU gave yourself overdraft fees by YOU not keeping a check register with an on-going running balance and YOUR lack of abiding by the funds availability policy. YOU will give yourself overdraft fees at any bank you go to until and unless YOU learn how to manage your account.

If you are being 100% honest and saying that the ONLY reason you are getting Overdrafts is because you have Automatic Debits coming out before you Direct Deposit, then the answer is simple.  Stop ALL automatic debits and pay those bills at your convienience.  This way you can pay them after your Direct Deposit has posted and avoid any nasty overdraft fees.

That is of course if you are being 100% honest.  If by chance that is just a smoke screen to your failure to manage your account because you don't keep an accurate register.  Then perhaps you are right, you should take all of your cash out of the bank and keep it under your matress.  That way there is no way to spend more than you actually have, and when you run short you will have no one to blame but yourself.

Oh and why not pass along the name of this "Chicago stock holder", and while you are at it why not post your relation.  After all he is dead now so it is not like he is going to object to you saying what he told you.