- Report: #782956
Complaint Review: Texans Credit Union - Richardson Texas
Reported By:
tammy -
Dallas, Texas, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Texans Credit Union
777 E. Campbell Road Richardson, 75081 Texas, United States of America
Phone:
972-348-2000
Web:
texanscu.org
Categories:
Business Rating:
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Texans Credit Union Texans Credit Union UNETHITICAL OVERDRAFT POLICIES Richardson, Texas
I have been banking with Texans Credit Union since 1998. I recently discovered that they are now joining the voluminous list of greedy financial institutions across our country that feel justified in charging NSF and overdraft transfer fees on pending items. I recently had several auto draft transfers at $7 a pop for items that were pending and in some cases did not come through because they were holds not charges or a credit was due against the charge. I reviewed my ledger and could see no daily balance shortages. I called the bank and they told me I needed to come in and review the pending charges ledger. It is this report they base the shortages on and subsequently charge NSF and/or overdraft transfer fees. I explained that in one case the charge was presented and the partial credit followed which would not have resulted in a deficient balance. I was told to take it up with the store initiating the charges. The credit union refused all accountability and had a generally bad attitude toward me their customer. By not providing on-line a listing of pending charges and showing them as a deduct rates as fraud in my opinion.
After they charged me a $35 NSF on a pending charge that came in on the same day as my Direct Deposit, I took it upon myself to study the procedures and opened two accounts. One I kept plenty of cash in and one I did not. It was so apparent the intentional actions the bank took in their posting practices. In the account with money charges and deposits were posted as presented. In the account without money they posted or deducted pending from largest charge first to smallest and deposits last.
This is such an obvious attempt of the bank to defraud its depositors. How is such an unethical practice really legal?
After they charged me a $35 NSF on a pending charge that came in on the same day as my Direct Deposit, I took it upon myself to study the procedures and opened two accounts. One I kept plenty of cash in and one I did not. It was so apparent the intentional actions the bank took in their posting practices. In the account with money charges and deposits were posted as presented. In the account without money they posted or deducted pending from largest charge first to smallest and deposits last.
This is such an obvious attempt of the bank to defraud its depositors. How is such an unethical practice really legal?
2 Updates & Rebuttals
Robert
Irvine,California,
U.S.A.
Check their policies
#2Consumer Comment
Thu, September 29, 2011
The way Debit Cards work is that a "hold" will deduct the amount from your Available balance. It appears that you have Overdraft Protection and as such if your account goes into Overdraft they will cover it and charge you a fee.
Now you have the option to "opt-out" of Overdraft protection. If you do then if you try to use a Debit Card at a Point-of-Sale or ATM and there is not enough to cover the transaction(or hold) the card will be DECLINED. So you won't incur any overdraft fees. But keep in mind this policy does not include Checks or ACH transactions.
The credit union refused all accountability and had a generally bad attitude toward me their customer. By not providing on-line a listing of pending charges and showing them as a deduct rates as fraud in my opinion.
- Your opinion is wrong. You are relying on on-line banking and just by the nature of how they receive transactions you can not rely on it. What you should be relying on in your WRITTEN REGISTER, and writing down each transaction as you make it. It is YOUR account and YOUR responsibility.
The only case you may have is if they gave you an Overdraft Fee on the same date a Direct Deposit became available. You need to look at their Funds Availability policy. Most banks post debits before credits, but some do post credits after debits. Also, some will give you a "grace period" of a day or so to bring your account out of overdraft.
If you keep the overdraft on your account you are going to have to keep a cushion in your account to cover any "holds" that are put on your account.
coast
USANot a rip off
#3Consumer Comment
Thu, September 29, 2011
"they charged me a $35 NSF on a pending charge that came in on the same day as my Direct Deposit"
The funds should be available before the debits are authorized. You authorized that charge before the funds were available.
"How is such an unethical practice really legal?"
It's unethical to authorize debits or withdrawals against unavailable funds.
