Legal Banking Theft

[Who's Liable?]

If what you want is FREEDOM, excercise(sp) your FREEDOM and withdraw your $1.25 from them and go somewhere else... You know Banks aren't the only place you can keep money... There are other forms of repositories out there... you just need to open your eyes, become self-sufficient, and do something for a change...

 

[DebHgn]

Doing Something

If what you want is FREEDOM, excercise(sp) your FREEDOM and withdraw your $1.25 from them and go somewhere else... You know Banks aren't the only place you can keep money... There are other forms of repositories out there... you just need to open your eyes, become self-sufficient, and do something for a change...

My eyes have truly been open. As for being self-sufficeint, what does that have to do with anything. Doing something? Yep, I'm on to that as we speak. As for my 1.25 in the account, I'm sucking up the penalty and cashing in ALL of my CD's. I've checked out other banks in my area and NOT all are participating in the behavior Fifth Third is.

 

[DebHgn]

Hi Deb, We are some of the FEW that don't have a LOT of money in our accounts, and we have to be right on top of things. I also am Bank DUMB I guess, because I agree with you. I deposit my pay check (yes, I live check to check) on Friday (and I got an expensive lesson) and it doesn't post to my account until mid-night Monday Night. Excuse me - The Bank has my money and I can't write checks until Tuesday!
And YES, Before all this great technology, A person could deposit money and tell the teller to please post it to your account so you wouldn't overdraw your account - and they would. Looks like technology has worked for the BANKS huh?
My Previous Bank paid my $500.00 auto pmt.twice. I wrote 1 check and thought my Loan Co. had debited my bank account and I called, wrote, fussed, cussed etc. and after numerous calls to the out-of state Bank Home Office, trying to get a copy of the item shown on my statement with no check #, finally figured out the bank did it. They also had charged me with over $300.00 insf. fees, because of it, and getting my money took over 2 years and going to the Bank President, threatening to find out who to call and file a complaint on them. They were telling me I HAD WAITED TOO LONG! My file folder is almost an inch thick with copies of - ME WAITING TOO LONG. Makes you wonder doesn't it?

Since I first posted this unethical and deceptive behavior from our large banking systems I have learned much. I've learned Banks STEAL money from consumers and lovin' every minute of it, to the tune of 16 billion dollars a year.



www.bankfees.info

 

[JETX]

Since I first posted this unethical and deceptive behavior from our large banking systems I have learned much. I've learned Banks STEAL money from consumers and lovin' every minute of it, to the tune of 16 billion dollars a year.

And you STILL don't get it!!!

 

[DebHgn]

And you STILL don't get it!!!

I get it, I understand more than you will ever know. Remember my name. You will be seeing it often in the near future.

 

[JETX]

I get it, I understand more than you will ever know. Remember my name. You will be seeing it often in the near future.

Lets see... you refuse to monitor your checking account balance, you refuse to understand about debit/ATM cards, and you can't 'fathom' the very shallow reality of banking..... Yep, bet we hear a LOT from you in the future!! After all, you are a lawsuit just waiting to happen.

 

[DebHgn]

Lets see... you refuse to monitor your checking account balance, you refuse to understand about debit/ATM cards, and you can't 'fathom' the very shallow reality of banking..... Yep, bet we hear a LOT from you in the future!! After all, you are a lawsuit just waiting to happen.

JETX: I've looked through all of your silly ass posts, and they are all just rants and slams. Every reply to you is how stupid you are and you need to get a grip and grow up. Ingoring you. You are too stupid for me to read anything you post.

 

[JETX]

JETX: I've looked through all of your silly ass posts, and they are all just rants and slams. Every reply to you is how stupid you are and you need to get a grip and grow up. Ingoring you. You are too stupid for me to read anything you post.

At least I am intelligent enough to know how to balance a checking account, know that there are TWO types of ATM transactions... and how to spelling 'ignoring'.
Also, I find your contradictions indicative of your lack of intelligence.... in one place, you say "I've looked through all of your silly ass posts" and in the next, "You are too stupid for me to read anything you post". Guess you can't figure out which way you 'swing', can you???

 

[lady alone]

Banking

I thought that when a customer used a debit card, pin based or signature, the "approval" meant the account was a "good" account, ie, not a stolen card, or a fake of some kind. I did not think the store's approval system and the number told the store or the customer whether there was enough money currently to cover the transaction, just that the account actually existed.

Now if you go to ATM machine and try and withdraw funds that are unavailable or uncollected, your transaction will be denied.

But I did notice that if I buy gas with my debit card as a"credit" purchase, my account will be debited for more than the original purchase immediately and then eventually, a day or two later, my balance will reflect just the cost of the purchase. None of these charges show up on my statement, but I can track them with PC or phone banking.

Frankly, it's very confusing to me.

 

[DebHgn]

When using your ATM/Debit card for POS purchases, ACH transaction tells the merchant, if the card is stolen, and it also approves the AMOUNT! So why is there ever a lag when it is posted to your bank account.

You can check your balance online everday morning, and the available amount and the ledger amount will be different. There is no excuse for this.

As an example. I have a Paypal account for ebay, etc. I also have a debit card for that account. When I make a purchase with my debit card down the road at the convenient store, by the time I get home I have an email where it had already been posted.

If Paypal can do it, why the heck can't these big ass banks do it?

JETPETQXASS, no need to reply.

 

[tabathadolley]

I've been at a point where my bank account was overdrawn, and felt the sting of charges upon charges. It hurts when you are all ready in the negative to be kicked when you are down with $30 fees. BUT, I accepted that it was MY error, not the banks that caused it. I accept that banks make their money from fees, all I have to do is make sure I manage my money properly.
You can be angry at banks because of the way they make money, that is your right. BUT, you have to accept responsibility for your actions. You overdrew your account, and nothing about the way the bank handled it was a secret. It may have made you angry, but that's another matter.

I also want to add that I do check my account several times a week, maybe everyday online. I have never noticed a difference in that and my ledger, unless I have written a check or used my Check Card as credit on a purchase.

I used to work in retail(I do now, but not with the public directly), and I have never ever had a debit card denied unless a wrong PIN was used. I'm not sure whether they verify the amount in your account, or whether there is actually money available.

 

[DebHgn]

I've been at a point where my bank account was overdrawn, and felt the sting of charges upon charges. It hurts when you are all ready in the negative to be kicked when you are down with $30 fees. BUT, I accepted that it was MY error, not the banks that caused it. I accept that banks make their money from fees, all I have to do is make sure I manage my money properly.
You can be angry at banks because of the way they make money, that is your right. BUT, you have to accept responsibility for your actions. You overdrew your account, and nothing about the way the bank handled it was a secret. It may have made you angry, but that's another matter.

As a matter of fact I do accept responsibility for the ONE overdraft in April. HOWEVER, from one OD in April and not being informed of being enrolled in a Courtesy OD Program, caused thousands in OD fees. I even use Quicken to down load activity at least a couple times a week. Nothing ever matched my check register. There was fee here and another fee there and not getting a notice for up to 15 days is unacceptable. It is also unacceptable to make your online statement appear differently than the actual processing. I can go online and go into my account, the available balance and the ledger balance never match.

I understand that it's hard for many to believe banks would treat customers this way, but indeed they do. There are the same complaints everywhere on the Internet. The Feds have even sent out an Interagency Guidence and warning on this practice.

Indiana Department of Financial Institutions recognized there was problem and issued this: http://www.in.gov/dfi/publications/newsletters/Overdraft Protection.pdf

This one as well from Indiana:
http://www.in.gov/dfi/whatsnew/overdraft/MorrisseyNSFPhil_Goddard.htm

The following was issued to banks that are regulated by the Philly Federal Reserve: http://www.phil.frb.org/src/srcinsights/srcinsights/q1cc2_03.html

When I am at fault, I have no problem accepting that. But when I have been ripped off, that is another story. It wasn't until I printed out my statements from online and layed them all out, that the picture became clear. The regular monthly statements you can no longer make heads or tells out of.

I'm not just angy. I am spreading important information that we all need to be aware of. They are actual companies out there, who set up the banks computers to capitalize on OD fees, they hard sell these program to banks who are losing income from lower interest rates.

Paying a penalty for overdrawing your account in one thing, setting you up to Overdraw your account in a whole other kettle of fish.

 

[tabathadolley]

Paying a penalty for overdrawing your account in one thing, setting you up to Overdraw your account in a whole other kettle of fish

How are they setting you up? From all the examples you gave, it was your fault not the banks that you were overdrawn.

 

[BellaK]

Now if you go to ATM machine and try and withdraw funds that are unavailable or uncollected, your transaction will be denied.

It may depend on your bank. Our bank automatically gave us $500 overdraft or bounce protection whatever you want to call it(not a line of credit or is it linked to a savings account) and they will allow you to withdraw up to that amount from the ATM(we had to use it one time in an emergency).

But I agree with some of the other posters it is not your banks responsibility to make sure you don't overdraw your account. You should be able to keep track of that yourself especially with online banking nowadays. If you can't manage to do that then don't complain when your bank charges you $25-30 for an overdrawn transaction.

 

[DebHgn]

Each of you who are so hell bent that it's the consumers fault and just plain blind, and I have some ocean front property in Kentucky that's for sale.

I have given you information, examples, other people with problems, places to read what some governement agencies have warned banks about, I've sent you to places where companies brag on how they can help banks increase their bank fee income. And still you are not even open to the facts that have been presented before you.

Your time will come, and you shall see. There was a program on over the weekend addressing this exact problem and how the public (except the ones on this forum) are outraged!

I bet each of you get paid by banks to get on here and defend their deceptive robbery.