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bbtuser · Dec 9, 2008, 01:16 PM

I had a check post for $850.00 on 12/05/08. I had $487.00 in my account. I also had 7 "pending transactions" waiting to come through totaling only $345.00. When I went to my online account, I noticed that the bank put through the $850.00 check, leaving me with a negative balance of $399.00 ($36.00 overdraft fee and -$363.00 for the check.) after the check posted, and they paid it and left me negative, they let all of the "Pending Transactions" go through and added a $36.00 overdraft charge to everyone of these transactions. Leaving me with a negative balance of -$690.00

I am on Social Security Disability and have direct deposit. So, I called the bank. 3 times, every one of the associates told me "As a courtesy," my bank covered the $850.00. I do not have "overdraft protection" and nowhere in my paper work does it tell me that my bank will do this for me as a courtesy.

What I was told by a friend who is manager of another bank is, "Since I have direct deposit, they know they will get their money, So what they did as a courtesy was pay the shortage on the $850.00 check and charge me an overdraft fee, and then bounce all 7 transactions behind it, for $36.00 per transaction, overdraft fee. Whereas, if the $850.00 check would have bounced, all 7 transactions behind it would have cleared, with the money I had in the bank, and the bank would have only made $36.00. This way they made $288.00."

My question is, How do I go about getting my money back for the overdraft fees on 7 transactions, when they should have went through, and only the $850.00 check should have bounced?

N0help4u · Dec 9, 2008, 01:24 PM

Very likely you won't. I use to be able to show them that I had deposited enough money to cover all the checks but THEIR taking the fees caused a chain reaction to cause all the other bounces. They would credit me back all but the original fee.
The last time I dealt with the bank charging for the overdrafts they said they would not return any of my money because I should be keeping a hundred dollars over what is being taken out so that I don't have that problem (like I have a hundred to spare!)

I now use money orders.

ebaines · Dec 9, 2008, 01:31 PM

Suggest you talk with the branch manager and see if they would be willing to reverse the 7 over-draft fees. Plead that you made a mistake in writing the $850 check, and that while you can understand having to pay that over-draft fee, you thought the other 7 would clear first. If you're a good customer you may just find a receptive manager who will reverse the 7 over-draft charges for you. However, you need to realize that this was a mistake on your part, not theirs, so don't go in with an attitude that you've been wronged. The problem was in the timing of the checks hitting your account. It may indeed be true that IF the other 7 had come in first you would have had only 1 over-draft charge, but that's not what happened, and I bet your account agreement says they can charge $36 for every over-draft.

bbtuser · Dec 9, 2008, 01:38 PM

Originally Posted by ebaines

Suggest you talk with the branch manager and see if they would be willing to reverse the 7 over-draft fees. Plead that you made a mistake in writing the $850 check, and that while you can understand having to pay that over-draft fee, you thought the other 7 would clear first. If you're a good customer you may just find a receptive manager who will reverse the 7 over-draft charges for you. However, you need to realize that this was a mistake on your part, not theirs, so don't go in with an attitude that you've been wronged. The problem was in the timing of the checks hitting your account. It may indeed be true that IF the other 7 had come in first you would have had only 1 over-draft charge, but that's not what happened, and I bet your account agreement says they can charge $36 for every over-draft.

But, did you understand what they did? They added funds to my account to let the $850.00 clear, instead of bouncing that check and letting the rest go through.

N0help4u · Dec 9, 2008, 01:41 PM

Yes so explain to them that you were under the impression they would have and should have bounced the check/electronic withdraw. That if they had bounced the check/EW the others would have cleared so you feel they should reimburse you for the other 7 checks.

ebaines · Dec 9, 2008, 01:55 PM

Originally Posted by bbtuser

But, did you understand what they did? They added funds to my account to let the $850.00 clear, instead of bouncing that check and letting the rest go through.

Yes I understand that, but it makes it sound like you INTENTIONALLY wrote a bad check, thinking that the bank would just bounce it and let your other checks clear. That's why I suggest instead that you admit the $850 was a mistake and plead for forgiveness on the ones that came after.

curiouscutiecan · Jan 19, 2009, 06:23 PM

Doesn't this mean anything?

"Bank of America Corp. must pat at least $372 million in damages and interest to hundreds of thousands of Californians, a judge has ruled, saying Social Security funds in their accounts were seized illegally to cover overdraft and bounced-check fees."

BofA Must Pay Customers $372 Million in Fee Case | Law Firm The Brandi Law Firm Attorneys San Francisco, California

According to this it is against the law for the bank to take this money.

curiouscutiecan · Jan 19, 2009, 06:36 PM

Don't these findings mean anything?

Bank of America Corp. must pat at least $372 million in damages and interest to hundreds of thousands of Californians, a judge has ruled, saying Social Security funds in their accounts were seized illegally to cover overdraft and bounced-check fees.

But plaintiffs attorney Thomas Brandi; noting that the judge used words like "unconscionable," said the decision sent a strong message that California law barred banks from tapping government benefits such as Social Security to cover fees.

"Hopefully as a result of this decision, not only will Bank of America change its conduct but so will any other financial institution that tries to profit by taking advantage of the most vulnerable," Brandi said.

BofA Must Pay Customers $372 Million in Fee Case | Law Firm The Brandi Law Firm Attorneys San Francisco, California

Lowtax4eva · Jan 19, 2009, 06:49 PM

That really sucks, my bank charges $5 per transaction that goes through when my account gets past my overdraft limit... though eventually it's $40 and transactions get rejected as NSF.

Anyway, it's really up to them, it's your responsibility to know how much you have in your account and how much is going to pass in transactions.

As others have said just call and see if a manager will talk with you and be nice and credit some of these charges.

hoightoider · Jan 25, 2009, 12:47 AM

I would ask the branch manager for a refund and apply for an over draft line of credit to protect yourself from this happening again.

oldcoot85 · Oct 10, 2012, 01:47 PM

This has happened twice now.We rec'd a check frpom Prudential Insurance and went to our bank to cash it,and were told "no"because we didn't have enough money in our account.I don't undestand it.It's a large Corporation's check,not our Personal Check.Are ALL banks doing this now?

ebaines · Oct 10, 2012, 02:01 PM

oldcoot85: It's pretty standard. What you can do is deposit the check in your account and simutaneously take out an amount less than or equal to your current balance, then wait for the check to clear, then take the rest of the cash out later.

oldcoot85 · Oct 11, 2012, 04:03 AM

[QUOTE=ebaines;3294512]oldcoot85: It's pretty standard. What you can do is deposit the check in your account and simutaneously take out an amount less than or equal to your current balance, then wait for the check to clear, then take the rest of the cash out later.
OK-Thanks.