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Bank Merger Overturning My life

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I'mALegalNovice

Junior Member
State: Texas

I'm a 66-year-old senior living on a fixed income.

My Bank merged with another bank on Aug 1st 2016, I had no idea the merger happened until Aug 20th when I received an overdraft letter from a bank I thought I wasn't apart of. But it had an account number and my full name. So I called this new bank and asked what was going on and that's when I learned, by speaking to a banker, that the banks had merged.
(It appears the Overdraft was valid, a mistake in my accounting, it was my 1st overdraft in about 10 years with my old bank account)


I asked the bank why I didn't receive anything in the mail about the merger, the banker claimed they informed customers but I never received anything about it.

Now, as I said I rely on a fixed income, so today I scrambled to call to change my direct deposit over to the new banking details (routing number changed not account number). I was informed the cutoff date to change where a deposit goes was Aug 19th, so they could not tell me if my direct deposit will go through or not to my new bank account.
So I have no idea how I'm going to pay my bills next month, if I don't get my deposit I don't have any money for the month.

I feel sick to my stomach I don't know what I'm going to do, it looks like I'm going to miss my bills next month.

In addition I also had to make about 10 other calls changing my banking details with bills that pull from my bank account. One I had to drive to another bank in my town who owns the lone to my car to change my banking details over. (they refused to change details over the phone)

My main question is do I have any legal recourse for the bank not notifying me causing me to miss my next month's direct deposit?

Second somewhat unrelated question: I got charged $35 overdraft fee for a check I wrote. Since the bank merged I have no agreement with the new bank that states what fees they charge, do I have any grounds to ask them to remove the charge since there was no agreement in place that stated what fees are charged for overdrafts?

I'm sorry for a long post I tried to make it as concise as I could.

Thank you for your time.
 


Shadowbunny

Queen of the Not-Rights
State: Texas

I'm a 66-year-old senior living on a fixed income.

My Bank merged with another bank on Aug 1st 2016, I had no idea the merger happened until Aug 20th when I received an overdraft letter from a bank I thought I wasn't apart of. But it had an account number and my full name. So I called this new bank and asked what was going on and that's when I learned, by speaking to a banker, that the banks had merged.
(It appears the Overdraft was valid, a mistake in my accounting, it was my 1st overdraft in about 10 years with my old bank account)


I asked the bank why I didn't receive anything in the mail about the merger, the banker claimed they informed customers but I never received anything about it.

Now, as I said I rely on a fixed income, so today I scrambled to call to change my direct deposit over to the new banking details (routing number changed not account number). I was informed the cutoff date to change where a deposit goes was Aug 19th, so they could not tell me if my direct deposit will go through or not to my new bank account.
So I have no idea how I'm going to pay my bills next month, if I don't get my deposit I don't have any money for the month.

I feel sick to my stomach I don't know what I'm going to do, it looks like I'm going to miss my bills next month.

In addition I also had to make about 10 other calls changing my banking details with bills that pull from my bank account. One I had to drive to another bank in my town who owns the lone to my car to change my banking details over. (they refused to change details over the phone)

My main question is do I have any legal recourse for the bank not notifying me causing me to miss my next month's direct deposit?

Second somewhat unrelated question: I got charged $35 overdraft fee for a check I wrote. Since the bank merged I have no agreement with the new bank that states what fees they charge, do I have any grounds to ask them to remove the charge since there was no agreement in place that stated what fees are charged for overdrafts?

I'm sorry for a long post I tried to make it as concise as I could.

Thank you for your time.

What proof do you have that they didn't send out notifications? (And I'm not trying to be flippant; this is a legitimate question.)
 

xylene

Senior Member
If it is possible for you, I urge you to personally go to the branch and ask to speak with a relationship manager or the branch manager.

Customer retention is important to banks. Your consistent repeat business over the years amounts to big business.

Ask for what you need. Ask if you can get a temporary overdraft for the balance of your monthly deposit at a nominal interest only charge. (interest rates are super low for overdrafts, this will only be a few dollars)

Ask if the few overdraft that arose by mistake can be waiaved along with a few extra just in case. They can wave fees.

Remember - you are a long term good customer. For the moment focus on that instead of the notice. That lets everyone have a win win.

I was able to get a sizeable saving account penalty waived (buying bonds - they charged each bond as a transaction instead of at once as I expected...) just by asking.
 

I'mALegalNovice

Junior Member
What proof do you have that they didn't send out notifications? (And I'm not trying to be flippant; this is a legitimate question.)
I asked myself the same question, I have none as far as I know. I don't know what proof I could have of not receiving a letter in the mail. Or even a phone call. But wouldn't the burden of proof be on the bank to prove they sent notices? And I don't know on this one but wouldn't it also be on the bank to prove I received the notice? (ie sending via certified mail)


If it is possible for you, I urge you to personally go to the branch and ask to speak with a relationship manager or the branch manager.

Customer retention is important to banks. Your consistent repeat business over the years amounts to big business.

Ask for what you need. Ask if you can get a temporary overdraft for the balance of your monthly deposit at a nominal interest only charge. (interest rates are super low for overdrafts, this will only be a few dollars)

Ask if the few overdraft that arose by mistake can be waiaved along with a few extra just in case. They can wave fees.

Remember - you are a long term good customer. For the moment focus on that instead of the notice. That lets everyone have a win win.

I was able to get a sizeable saving account penalty waived (buying bonds - they charged each bond as a transaction instead of at once as I expected...) just by asking.
I was not aware of a type of overdraft lone. I live off about 1,500 a month in my two person house hold. Even at a 5% intrest it'd be $75 interest I'd have to pay. That's money I don't have.
I will have to do something I don't know if that will be trying to work with the bank for a lone or some other option like a credit card. I don't know if I'd even get approved for the amount I'd need to live on for a month. I did Ch 13 10 years ago.
 

xylene

Senior Member
Even at a 5% intrest it'd be $75 interest I'd have to pay.
Is an annual rate. ;) So like 7-12 bucks depending. You could ask them to waive the interest for the first month until your deposit cleared too.

BK is off credit by now. Good luck, but I stick by my advice, first thing to do is face to face use the power of ask with the manager for help with your situation as a long term valued customer.
 

I'mALegalNovice

Junior Member
Is an annual rate. ;) So like 7-12 bucks depending. You could ask them to waive the interest for the first month until your deposit cleared too.

BK is off credit by now. Good luck, but I stick by my advice, first thing to do is face to face use the power of ask with the manager for help with your situation as a long-term valued customer.
Thank you, and yes very sound advice, asking for some sort of short-term loan for a month and hope the bank can waive any interest for one month sounds like my best option.

Can anyone speak to laws regarding bank mergers and notifying customers? I shouldn't of have had to deal with this headache in the first place.
 

Chyvan

Member
I shouldn't of have had to deal with this headache in the first place.
You probably didn't. Your check cleared and overdrafted just fine, didn't it.

When most banks merge, everything stays the same for just MONTHS even years. I bet the old routing number is still good. Did the bank mail you new checks? I think your direct deposit is going to go through just fine, and you're all worked up over nothing.

What are the names of the bank's involved? I bet if you go to their webpages it will tell you that nothing is happening right now. It just can't be done that fast.

Bank One merged with Chase 12 years ago, and I'm still using the same checks (with the Bank One logo) and routing number that Bank One had.
 

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