Complaint Review: US Bank - Lawrence Kansas

From this report I am having a hard time finding out your specific concern. It seems as though you were unhappy with their policy on overdraft fees. Is that correct? Would you say that you were upset at them for taking your money, or would it be more accurate that you were upset that you overdrew your account? You also make accusations of them stealing money from you. How did this happen? Was it in an actual branch where you gave money to a teller and they simply did not deposit the money? I would highly suggest you brining this to the attention of the branch manager and/or local law enforcement, as any form of stealing is a crime. Or by steal did you mean assess fees which you felt were inordinatly large? I'd remind you that when you opened your account you deposited money in exchange for their safekeeping, possible interest, convenience, and many other benefits. In exchange they expected several things from you: positive balances, possible limits on number of withdraws, and fees in the event that you did not keep your end of the bargain. I would guess (and I'm pretty confident that my guess would be correct) that when you slept at night your money was kept safe. When any interest paymets were due (where applicable) interest payments were made. When you slid your debit/credit card at the store, it was honored. And when you needed cash at 4am in the middle of no where, the ATM honored your transactions. Banks are pretty solid at keeping their end of the bargain, but as soon as a customer breaks their end of the deal the bank turns into an evil, money grubbing, fee assessing machine. If I may suggest, play by the rules of the company, or don't play with that company.

All banks make their money the same exact way... fees and spread. Fees they charge for service charges, overdrafts, etc., and spread on loans over the bank rate. You have two options when you are in need of money. You can take out a loan or you can overdraw your account. Both cost you money. You used the BANK's money to pay your bills when you spent more than what was in your account. If you needed gas in your car, your car would be left at the gas station without any gas in it until you got paid again... or you could use the overdraft option to fill your tank and go to work. Guess what... you can't borrow money for free. And if you don't pay back the bank's money, you pay for the use of the money until it's paid off. US Bank is an excellent institution with almost 150 years history. US Bank offers overdraft protection credit lines, credit cards that can be used for overdraft protection and even checking account advance "payday loans" attached to your account if you have direct deposit up to $500 at rates far below payday loan places. There are numerous opportunities to protect yourself from overdraft... but the best is to keep good records and be responsible with your money. My advice if you're paying the daily overdraft fees is to go get a short term loan somewhere to pay off your account balance.. it'll be cheaper than paying $7/day for each day you use the bank's money to pay your personal expenses. And it will avoid you not being able to open another account at another bank due to account abuse issues. Bottom line, your issue would have been the same no matter the bank you use. That's an absolute fact. US Bank is one of a few banks that have free checking accounts that don't have service fees or statement fees or require direct deposit to be free. But it's only free as long as you are a responsible customer. If you use the bank's money, expect to pay the fees that were given to you with your account packet when you opened your checking account.

other than you stealing their money by spending with wreckless abandon? Did you call the police on the thief? I'm sure you did since you state they 'stole over 5000 dollars from me' right?

You just admitted you overdrew. US Bank makes you sign a document when you open the account stating that you agree to the terms and conditions of the account. This includes fee information. Obviously, no one likes fees. I understand that. But, you have to understand this from the bank's perspective. Without overdraft fees every customer would constantly leave their account in a negative status causing the bank to become unstable. Not something you'd want, I'm sure. My advice is to use cash only or just open a savings account and operate with that.