- Report: #419524
Complaint Review: Liberty Bank - Springfield Missouri
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Liberty Bank
210 N West ByPass Springfield, 65803 Missouri, U.S.A.
Phone:
417-888-300
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Liberty Bank Predatory - Excessive NSF Funds Springfield Missouri
IMO, Liberty bank is a rip-off. I banked with them for almost a whole year before I caught on to what they were doing. I realized that they post items to your account in such a manner that ensures that they get the greatest number of Non Sufficient Fund / Overdraft fees possible.
They process items not in the order received, but rather in order from greatest to least. I confronted the bank about this through their secure online banking system. I received a confirmation from an agent by the name of Judy : "The items that process each day will run the large to small. That is just the way our system works. If any other questions please give us a call at 888-300 C/C" (Secure Message ID 54791764 in case Liberty Bank reads this). This is irrefutable proof that this bank does not have the consumer's best interests in mind. They only care about charging as many fees as possible to make them as profitable as possible. They even let me take out several loans to pay their ridiculous NSF fees.
After downloading the transaction history and spending several days recalculating what the overdraft charges would have been had they processed items in the order received. I had determined they had ripped me off over $1,000 in NSF charges in less than a year. No wonder they pay you 50 dollars when you refer a friend to get an account there. It doesn't matter if it is in the fine print when you sign up for the account. This practice is predatory and hurts people most who have difficulty managing money by making their overdraft charges much worse than they actually.
Thomas
Springfield, Missouri
U.S.A.
They process items not in the order received, but rather in order from greatest to least. I confronted the bank about this through their secure online banking system. I received a confirmation from an agent by the name of Judy : "The items that process each day will run the large to small. That is just the way our system works. If any other questions please give us a call at 888-300 C/C" (Secure Message ID 54791764 in case Liberty Bank reads this). This is irrefutable proof that this bank does not have the consumer's best interests in mind. They only care about charging as many fees as possible to make them as profitable as possible. They even let me take out several loans to pay their ridiculous NSF fees.
After downloading the transaction history and spending several days recalculating what the overdraft charges would have been had they processed items in the order received. I had determined they had ripped me off over $1,000 in NSF charges in less than a year. No wonder they pay you 50 dollars when you refer a friend to get an account there. It doesn't matter if it is in the fine print when you sign up for the account. This practice is predatory and hurts people most who have difficulty managing money by making their overdraft charges much worse than they actually.
Thomas
Springfield, Missouri
U.S.A.
1 Updates & Rebuttals
Mr Common Sense
Holland,Ohio,
U.S.A.
Know how your account works and deal with it!
#2Consumer Suggestion
Wed, February 04, 2009
All banks process largest to smallest. They always said it was because the larger amounts were usually more important items.... but it doesn't matter. They are within their rights to arrange in any order they wish -it's in your disclosures you received when you opened your account. That's the way they do it - deal with it! If people know when their deposits are available, and how debits post, and they still overdraw their accounts - they get charged. Not the banks fault! Just because you don't agree with how things are done doesn't make them wrong. You overdrew your account so you get charged according to the banks policies. Why does everyone always try to blame someone else for their mistakes?! If you have actually paid (not been ripped off!) over $1000 in fees in the last year, I would suggest that you get your act together and learn how to manage your account.
