I am pissed at my previous bank!!!

KristinaB

KristinaB

Emotional Mess
Premium Member
Joined
Mar 24, 2008
Messages
14,502
Reaction score
24
I checked my bank account as my disability check was to be deposited today. Upon logging on, I found that the bank closed my account 2 days ago. I called them to find out what was up, they said that I was not using it regularly and that the balance had fallen into the negative, so they closed it. For the last 2 years, they knew I had this direct deposit. I asked what they planned to do, the idiot responded, "We will take what is owed to us and return the balance to Social Security." I then called Social Security, and explained what was going on. They said, by law, the bank cannot take any of my money from a Social Security check and that since the account was closed, the deposit will go back to Social Security and then be mailed to me. I asked if I could change my bank information, to the current local bank I am using, the lady did that, and corrected my address as well. She was very nice and polite and said that she was a supervisor. I called the bank again to relay what I learned from Social Security, and they said that they do this all the time and I better get used to the idea of it. I told them that this money was to pay some bills and that if any harm befell my family due to me not having my funds, they they would hear from my attorney.

I had had this account since 1996 and had no problem before. I just can't believe this could happen. Social Security says it happens a lot more than people think, but they will investigate this instance.
 
Banjo said:
How did it fall into the negative? Hmm...
Click to expand...

Seems hubby used the wrong debit card for gas. I had overdraft protection, so it was covered, but they weren't happy. It was only $12 in the negative and only for 1 day.
 
KristinaB said:
Seems hubby used the wrong debit card for gas. I had overdraft protection, so it was covered, but they weren't happy. It was only $12 in the negative and only for 1 day.
Click to expand...

Ah figures. Well, I hope you get this all sorted out.
 
Landmark Bank, previously First National Bank of Columbia, MO.
 
:hmm: makes no sense. Most banks love it when you overdraft your account.
 
TXgolfer said:
:hmm: makes no sense. Most banks love it when you overdraft your account.
Click to expand...

They will dump you if you do it often and then are rude about it. I did know a neighbor who had those habits and they closed her account and told her not to come back.
 
TXgolfer said:
:hmm: makes no sense. Most banks love it when you overdraft your account.
Click to expand...

they do.

However if they're losing money on your account.. if youre making $600 a month they get no interest, and are losing on the "Techincal aspect of maintaining the account"...... Why do they want to keep the account alive?
 
posts from hell said:
they do.

However if they're losing money on your account.. if youre making $600 a month they get no interest, and are losing on the "Techincal aspect of maintaining the account"...... Why do they want to keep the account alive?
Click to expand...

Well that's what I am saying. If you overdraw often those $35 overdraft fees add up so that is how they make money off smaller accounts. They love people who use debit cards for gas at the pump while having a low balance. Reason being, most pumps only run the card for $1 at first and the actual amount adjusts 2-3 days later. So for a couple of days your account will appear to have more funds than you actually have. Then you spend it and whamo...$35 fee Per Transaction.

Banks are different depending on where you live I guess. Around here If you continually overdraw but then bring your account current you will be their favorite customer. I think it's shady. Bank's also do their debits each night with the biggest transaction first. Which is kinda crappy. It leads to alot of fees sometimes.
 
TXgolfer said:
Well that's what I am saying. If you overdraw often those $35 overdraft fees add up so that is how they make money off smaller accounts. They love people who use debit cards for gas at the pump while having a low balance. Reason being, most pumps only run the card for $1 at first and the actual amount adjusts 2-3 days later. So for a couple of days your account will appear to have more funds than you actually have. Then you spend it and whamo...$35 fee Per Transaction.

Banks are different depending on where you live I guess. Around here If you continually overdraw but then bring your account current you will be their favorite customer. I think it's shady. Bank's also do their debits each night with the biggest transaction first. Which is kinda crappy. It leads to alot of fees sometimes.
Click to expand...

bingo. that's what happens. see it all the times.
 
Well, this was not an interest bearing account and this account was not overdrawn more than 3 times on 16 years. It was a free checking due to the fact that there was a direct deposit. My basic transactions for the past year was 1 direct deposit, and 2 auto payments. Once in a while, I used the debit card. After the bills were paid, I would write a check to my Florida account. So there might be 4-6 transactions a month. that's still using it like clockwork and they should not have done this. Seems, they would have been happy for the business. I asked a good friend who works for them what was going on. He says they are in the process of being bought out again. 3rd time in 5 years. He is quitting and will be going to a credit union in town.
 
Yes, Credit Union....such as Vystar (Navy Credit Union). They are awesome....
 
HearYe said:
It's your own fault. You should be aware of who uses what card. A bank has the right to tell you that they don't want your business as much as you do to close your account whenever you want.

I have never bounced a check or has an overdraft fee. Why, because you are not supposed to. Only one time was I charged for having the balance below the minimum for that account. The reason was because they had change and raised the minimum amount that you had to keep in that account that month. I explained that I was not aware of this, and deposited money from another account and the fee was reversed.

When Bank of America told me I need to keep $1000 instead of $100 minimum in each account I closed it and went somewhere else.
Click to expand...

It is NOT my fault. Yes, we made a mistake (hubby actually) and we have always (only 2-3 other times in 16 years) taken care of it. BofA is a crappy bank and we used to have an account there until they called the police on me for taking a note to the teller detailing the 5 things I needed.

I have since gotten an apology from the bank and they want to reopen the account. I have told them no. They admitted that they did not look to verify that a deposit was coming before doing this and if they had checked, it would not have been closed. The agreed that we have not been "unsatisfactory" account holders as we have mostly had a positive balance or made it positive within 1-2 days, and they acknowledged that the negative balance only occurred 3 times in 16 years.
 
We are currently with a good bank here and will get a secondary account with a credit union. I have to make sure our accounts are not at any financial instution where my MIL has her accounts. FIL, hubby and son all have the same first and last name. Just different middle names. MIL has accounts spread all over this town/city/metropolis.
 
KristinaB said:
I I have already said that the bank said they were at fault. We have a saving account to cover overdrafts, but they did not take that into account.
Click to expand...

You should inform the main bank that is not just a branch if you had savings and it was supposed to be used for overdrafts.

Somebody should be penalized for not doing their job correctly.
 
Back
Top