I am so pissed right now (the mad kind not the drunk kind)

[Kool]

I am super meticulous about my checking account. I haven't had an overdraft in years, I can't even remember the last one. But yesterday was the day before my wifes payday and the balance was getting a little low. I thought I had enough to take the girls out for a cheap dinner and did so. But I screwed up and forgot to enter a purchase a few days before making the dinner purchase OD by a whopping $1.26. My credit union where I have my checking account pays an overdraft but charges me a $20 fee. OK I screwed up I can accept my penalty it was my fault. What has me steaming though is that I made another piddly $6 purchase earlier in the day which I did have enough to cover but because of the 20 buck fee it caused that one to be OD too so they hit me with another $20 OD fee for that purchase too. I'm sorry but that just doesn't seem right, I'm sure it's all legal but I'm still gonna call up and bitch about it here in a few minutes now that they are open. :mad:

[morea]

grr, I hate that! I hope that they'll reverse one of the charges.

[Two-Toe Tom]

darn hands in your pockets!

[AlexNJ210]

im like that too, i just make sure i dont do that by ploping a little savings into checking till i get paid, then sending the bit back sometimes with extra. Helps me avoid the nonsense. Im with you kool....look a mad face...no TWO...just for you. :mad: :mad:

[Kool]

im like that too, i just make sure i dont do that by ploping a little savings into checking till i get paid, then sending the bit back sometimes with extra. Helps me avoid the nonsense. Im with you kool....look a mad face...no TWO...just for you. :mad: :mad:

I do to and it was stupid of me to let this happen, I had money in savings. I just got off the phone with them and had no luck. My wifes direct deposit was also deposited first thing this morning and it should have covered all of this. It's obvious to me that they chose to process these purchases out of the order in which they came in just to hit me with the double fee.

[Satchel]

I have my checking dip into my savings if it ever runs out, and if they both run out I have a $500 line of credit waiting... I've never had to pay an OD fee, and I hope I dont have to... it doesn't make much sense to charge someone without any money an extra 40 bucks!

[balou]

If you play nice quite often they'll wave the OD charge, or at least one of them.

edit: I see we posted at the same time - bastages

If it's help, our OD charges are $30 each.

[morea]

It's obvious to me that they chose to process these purchases out of the order in which they came in just to hit me with the double fee.


http://i10.tinypic.com/4puivyb.gif

[AlexNJ210]

I have my checking dip into my savings if it ever runs out, and if they both run out I have a $500 line of credit waiting... I've never had to pay an OD fee, and I hope I dont have to... it doesn't make much sense to charge someone without any money an extra 40 bucks!
yes it does!! How the heck do you think creditcard companies make so much money, with malarky like this.

[balou]

The thing that made me ticked off at banks is remember when debit cards first came out? It took the money right out of your checking account but if there wasn't enough in there, the card wouldn't work. Well, the bankers got together and changed that. Apparently they were missing their income from overdraft charges. Now if you use your debit card and there's not enough to cover it, you get nailed with an OD charge. Nice huh?

[amadeupword]

Similar thing happened to me, but at my bank the OD charges were $30

[AlexNJ210]

Similar thing happened to me, but at my bank the OD charges were $30
bank of america?

[Kool]

Ack credit cards, don't even get me started LOL. About six years ago after my credit report finally cleared of some problems I had way back in the early nineties I got my first CC from bank one. It was my first step in getting my credit to the excellent level it is at now. The card only had a 500 limit and still does. A couple years ago we did the home equity thing and I paid off all my cards and canceled them all except this one which I kept strictly for online purchases. With the low limit I figured if it did get ripped they wouldn't be able to do much damage. The interest originally was 19%. Well a few years ago Bank one merged with Chase and I got a new card. I didn't pay much attention to the interest rate since I always paid it in full any time i used it. Well a while back I just happened to notice that the interest rate had increased to 29,99% :eek: This on a card that had never had a missed or late payment in over six years.

[AlexNJ210]

isnt it in a bank's best interest (pun intended) to approve people with bad credit so they can jack up the interest rates and make more money. They get their money one way or another.

[MD]

You should check into your bank to see if there is overdraft protection for your checking account. At the bank I use there is a free service that if your checking gets overdrawn they will take the money out of your savings account.

I just charge everything and pay the bill at the end of the month.

[WannaBrie]

I am really bad with finances. I've had this happen to me on several occasions. What's really bad is that I don't have the funds to be flip about it. On top of that, my Dad wrote a book on money management! Even though I read it, I still suck at managing my money. I'm so bad at it t hat I don't have a debit card, I would really screw up if I did. I feel for ya Kool, at least it was just an honest one time mistake.

[Zendada]

Fight the power.

[Kool]

You should check into your bank to see if there is overdraft protection for your checking account. At the bank I use there is a free service that if your checking gets overdrawn they will take the money out of your savings account.

I just charge everything and pay the bill at the end of the month.

My old CU used to do this and it was great. This one doesn't though, gotta get them fees ya know.

[Red Kittie Kat]

My credit union does have an overdraft account .. they will cover me up to $500 if necessary since I have been a member for over 20 years ... however you still get hit with a fee if they have to cover you ... but at least they do cover it so you don't have to pay a penalty where it would have bounced as well.

I hate banks :mad:

[Exodus]

Sorry, but every time I see this thread come up I think of this (http://www.chunder.com/carrots/pissed.wav) and start to chuckle.

Edit: Oh yeah, and this. (http://www.chunder.com/carrots/thatsit.wav)

[cornfed]

Ex, that seriously cracked me up!

[John G]

Remember how ATM's were supposed to get rid of a lot of teller's jobs therefore saving the bank's & your money? Remember how using the bank teller was free? I love my ATM fees.

[Satchel]

yes it does!! How the heck do you think creditcard companies make so much money, with malarky like this.
Well I guess I didn't word it right, it makes sense for them to make money, but how do you charge someone MORE money when they dont have enough money to cover what they've already spent... see what I mean? I know you do... you're bright! ;)

[AlexNJ210]

aw shucks satch :rolleyes:


Thats the whole point, they want people who dont have enough money, so that when they do make money they are always paying off the bill because of insane interest.

[Satchel]

Oh I get it... I just think its bass akwards, that's all.

[amadeupword]

bank of america?

Wachovia

[AlexNJ210]

oh its a bunch of bs i agree but few businesses are ethically governed internally rather than from the outside.

[D-Frag]

bank of america, not only offers illegal immigrants banking services without a social security number, they also charge a crap load in OD fees. same with wells fargo and chase bank.

im very grateful to have Desert Schools, best bank ive ever had.

Did you know wells fargo alone, caps out about 40 BILLION a year in overdraft fees. nice huh. they nailed me for $800 in OD fees about a year ago (you may remember me bitching about it) and it was there fault, it was a bank error, yet they refused to reverse the charges even after i stated i had been with them for over 15 years. *******s, there all *******s, i hate bankers

[AlexNJ210]

Wachovia
ah same as me with BOA

[AlexNJ210]

deep breath D-frag, center your chi....you're starting ta get me nervous dude.

[D-Frag]

im centered, im chi'd out ;)

im just tired and banks make me angry.

[AlexNJ210]

slap on the head phones with some good relaxing music.

[Kool]

I loathe Wells Fargo. I got my mortgage with Washington Mutual specifically because they don't sell off their mortgages. My sister had a horrible experience when her original lender sold her mortgage to Wells Fargo. So I purposely picked WM because they didn't do it, it was right there in their pamphlets as a selling point. I even confirmed it with the WM guy who did the mortgage. I guess I should have gotten it in writing though because last December I got a letter from WM informing me that my mortgage had been transfered to pancaking Wells Fargo. :mad:

[Exodus]

My wife works at a community bank here. Consequently, we bank there, for free. She checks our account everyday to make sure everything is okay.

[AlexNJ210]

thats a nicety i wouldnt mind.

[budafist]

When an American friend was staying here he went into overdraft, but they hit him with a penalty fee for every day he was in overdraft! It took him a whole lot of phone time back to the states to get it sorted out.

[urstwile]

I loathe Wells Fargo. I got my mortgage with Washington Mutual specifically because they don't sell off their mortgages. My sister had a horrible experience when her original lender sold her mortgage to Wells Fargo. So I purposely picked WM because they didn't do it, it was right there in their pamphlets as a selling point. I even confirmed it with the WM guy who did the mortgage. I guess I should have gotten it in writing though because last December I got a letter from WM informing me that my mortgage had been transfered to pancaking Wells Fargo. :mad:
I just watched an old episode of Bill Moyers American Journal about this very issue (http://www.pbs.org/moyers/journal/06292007/watch3.html).

[frankster]

I just thought I should let you know that "I'm so pissed right now" means something totally different in the UK. It means you are boozed up to the eyeballs, and as supreme Moderator I think it is highly irresponsible for you to be leathered at the wheel of the GDF!

[budafist]

Frankster, it means the same in NZ.

I think the correct phrase would be: "I'm so pissed off right now".

[Kool]

I checked that out Urst, very interesting.

I just saw an article about this very thing on Yahoo.

http://finance.yahoo.com/expert/article/moneyhappy/40466

It seems that manipulating the order and processing of deposits and transactions to maximize fees is a common practice. It also sounds like congress is attempting to do something about this practice. I wish I had more confidence in them but these are the same people who recently changed the bankruptcy laws to protect banks from getting screwed by the people they freely loaned money too even though they were in no way qualified to borrow it.

[tuliptree]

Sorry to hear about you bank woes, Kool. Stinks! That happened to my husband and I a few years ago with our bank (US Bank--hate them!) where we started overdrafting more and more, even if we deposited money to avoid that from happening. We were eventually told "sorry, its our policy, all withdraws are made before deposits." It was awful, sort of like what you're experiencing Kool. We finally switched banks, and luckily found one that stated they post deposits BEFORE withdraws as a policy. So far so good. Its also a bank account that has perks through my husbands workplace though, so I am not so convinced that all "non perks" customers get to enjoy the same policy (I could be wrong though).