- Report: #32990
Complaint Review: PNC Bank - Pen Argyl Nationwide
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PNC Bank
Robinson St Pen Argyl, Nationwide, U.S.A.
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PNC Bank fraudulent fees assessed to account that are not reimbursed when proved fraudulent the business that doesn't give a d**n Pen Argyl Nationwide
This company has numerous "rules" that make it so that they can charge an exorbitant amount of fees to a persons account. I opened my checking account 6 months ago. Within the first week of opening the account, I had an overdraft check that was not really overdraft. My husbands paycheck had been deposited on Friday and our bills paid. On Saturday a check posted to the account.
However, my husbands check was supposed not "local" (even though the business was only 20 miles away!) and therefore subject to a 3 day hold. Therefore, they sent back the check that came through on Saturday and charged me a $30 overdraft fee. This has happened on numerous occasions in the 6 months. I have argued round and round with the bank, but they do not care. They want their fee. I have never bounced a check before in my life. That is how the bank makes its money is all of the fees they charge customers. I have checked other banks around the area and this is the only one I have found to have this "local" rule. What they are saying is that my paycheck paid on Friday would not be available to me until Wednesday of the following week, while they in the meantime are using it to earn interest. It is a big ripoff!
Donna
Pen Argyl, Pennsylvania
However, my husbands check was supposed not "local" (even though the business was only 20 miles away!) and therefore subject to a 3 day hold. Therefore, they sent back the check that came through on Saturday and charged me a $30 overdraft fee. This has happened on numerous occasions in the 6 months. I have argued round and round with the bank, but they do not care. They want their fee. I have never bounced a check before in my life. That is how the bank makes its money is all of the fees they charge customers. I have checked other banks around the area and this is the only one I have found to have this "local" rule. What they are saying is that my paycheck paid on Friday would not be available to me until Wednesday of the following week, while they in the meantime are using it to earn interest. It is a big ripoff!
Donna
Pen Argyl, Pennsylvania
3 Updates & Rebuttals
Dennis
Cincinnati,Ohio,
U.S.A.
Use direct deposit, ..found that Federal Reserve regulations permit banks to hold checks for a certain period of time before crediting them to your account.
#2Consumer Suggestion
Fri, July 25, 2003
When I had my checking account with PNC Bank several years ago, I had this same problem occur -- except that in my case they failed to credit my paycheck to my account for almost a week! I did some research and found that Federal Reserve regulations permit banks to hold checks for a certain period of time before crediting them to your account. Local checks, cashier's checks, and government checks usually must be credited within a day or so, while checks from non-local banks may take much longer. In order to be competitive, though, many banks have a Funds Availability Policy that is more favorable to the account-holder than what the government requires. PNC Bank, in my experience, has both an unfavorable Funds Availability Policy and does a poor job of communicating it to their customers. For awhile they even had signs indicating that funds would be available on the following business day, even though the fine print in their account policies contradicted this. There are two things you can do to solve this problem: 1) Your husband should ask his employer if they offer direct deposit of paychecks. Most companies do. Direct deposit makes the money available immediately, since no check is involved. 2) If they fail to remove at least some of the NSF fees after you have negotiated with them, then find a different bank. I personally found PNC Bank's customer service department to be completely non-responsive. You can certainly do better than this.
Jim
Adamsburg,Pennsylvania,
U.S.A.
How to handle your account
#3Consumer Suggestion
Sat, July 12, 2003
Even though your buisness was only 20 miles away they may bank with someone that is more then 20 miles away. Its not were you work but it is were your work banks that makes your check non local. I am also pretty sure that your check that you wrote out didnt post on Saturday since Saturday and Sunday are not buisness days. So it wouldnt have posted till Monday. When you opened your account did you read your funds availibilty papers, or did you ask the teller that you deposited your check with what day your funds would be available. A bank is like any other buisness they are in the buisness of making money and like any other buisness they have rules and regulations. One of those rules are that they have to make sure the check you have deposited has available funds before they make them available to you. When you buy a house and give the real estate agancy a check for payment do they just give you the house before checking to see if the funds are there. And believe me buisnesses bounce payroll checks too. Mabey you should look into cashing your check at the bank its drawn off of and then deposit it. And the fees you recieved would not be fraudulent, by signing a account agreement you agree to accepting those fees. And also you never explained how were these fees proved fraudulent?
Christine
Lancaster,Pennsylvania,
U.S.A.
a little advise
#4Consumer Comment
Sun, June 01, 2003
The check came into your account the day after the deposit was made?? You HAD to have written the check out before you had money to cover it! Did you know writing bad checks is illegal? And yes, other banks have that rule, maybe they don't use that exact phrase, though. I have worked for two different banks and they both have that same policy.
