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$33.00 overdraft fee

And a $28.50 "continuing overdraft charge" each day for two days (and counting?).

All because Paypal deposited, then withdrew, 18 cents to "test" my account for future transfer capabilities (it only had 12 cents in it at the time).

How do banks get away with this shit? Fuckin criminals.

by Anonymousreply 5712/03/2012

OP, contact the Consumer Financial Protection Bureau.

by Anonymousreply 512/02/2012

You still have a checking account at a bank?

Lie with dogs, wake up with fleas.

by Anonymousreply 612/02/2012

You had an option to "opt out" of overdraft protection.

by Anonymousreply 712/02/2012

I'm trying to sell through Paypal, not buy. And it's a brand new checking account.

As for $18, that's the same price for two wasted movie tickets. But I get a whole year of all the wonderful horribleness that is Datalounge!

by Anonymousreply 812/02/2012

[quote]As for $18, that's the same price for two wasted movie tickets.

Doesn't sound as if you have money for either.

Get your shit together.

by Anonymousreply 912/02/2012

It's a computer that does it. Call the bank and ask if they'll drop the fees, since the overdraft amount is so small. If you're polite about it, and you haven't screwed up before, there's a good chance they will.

Then whatever they do, close the account and take your money to a credit union. There's no reason for anyone to be dealing with banks at this point. (In fact, when you talk to the bank, tell them you're considering a credit union instead. That'll get their attention.)

by Anonymousreply 1012/02/2012

Am I the only one who finds this story baffling? If PayPal deposits eighteen cents and then withdraws eighteen cents, where is the overdraft? And don't you have to pay a penalty each month if your balance is below a thousand dollars? I would at my bank. OP, would you kindly elaborate?

by Anonymousreply 1112/02/2012

[quote]Am I the only one who finds this story baffling?

No, you are not.

by Anonymousreply 1212/02/2012

That cascading overdraft fee is one of the reasons I got out of commercial banks...baks will even hold a deposit, so they can nail you on fees.

And yes, you may be able to talk them down, but probably not with a major commercial bank, because they just don't give a shit.

I'm in a credit union now, and not only is the fee structure much better, I can get someone on the phone who knows who I am.

It's certainly one way you can get your business away from the people who caused the financial crisis in '08.

by Anonymousreply 1412/02/2012

[quote]Its ridiculous OP, but as you can see, being poor is a fate worse than death in today's America.

I just checked the Datalounge Penal Code and you are incorrect. Being fat is the fate worse than death.

by Anonymousreply 1512/02/2012

"baks will even hold a deposit"

That's what happened. I happened to deposit a refund check late Wednesday afternoon, and they told me it would take 4 business days to post and become "available".

Still waiting.

by Anonymousreply 1612/02/2012

[quote] Call the bank and ask if they'll drop the fees, since the overdraft amount is so small. If you're polite about it, and you haven't screwed up before, there's a good chance they will.

[quote] Then whatever they do, close the account and take your money to a credit union. There's no reason for anyone to be dealing with banks at this point.

Do this. Do this tomorrow. Be nice to the teller/customer service rep. They will usually refund the fees/reverse the charges if it's your first time in a long time

by Anonymousreply 1712/02/2012

Crediting 18 cents, then debiting 18 cents = 0. It does not result in a negative balance.

You bounced a check that had nothing to do with Paypal testing your account.

by Anonymousreply 1812/02/2012

Both the charge and credit probably hit the same day. The bank chose to process the charge first, and the account dropped below zero, triggering the overdraft fee. After that, once the credit was processed, the account was still negative, due to the overdraft fees.

Maybe - I thought banks didn't do that sort of thing anymore.

by Anonymousreply 1912/02/2012

Smell miss priss the school marm at r18. You've got it allll figured out, huh?

by Anonymousreply 2012/02/2012

OP, i feel your pain. the last four years have been tremendously challenging for many of us since the plutocrats crashed our economy to force thru their agenda of reducing the middle class to serfdom.

that said, move your money to a credit union TODAY. banks will purposely place holds on checks deposited into small balance accounts, expressly for the purpose of charging overdraft fees. credit unions do charge overdraft fees, but don't rape their lower-income depositors.

close that account immediately.

by Anonymousreply 2112/02/2012

Survey: Americans Will Pull $185 Billion Out of Big Banks Next Year

Sadly, OP went in the opposite direction and chose to fund commercial banking instead.

by Anonymousreply 2212/02/2012

Read R10 again. He is 100% right.

by Anonymousreply 2312/02/2012

[quote]All because Paypal deposited, then withdrew, 18 cents to "test" my account for future transfer capabilities (it only had 12 cents in it at the time).

.12 + .18 - .18 = .12

by Anonymousreply 2412/02/2012

R13/R20 needs to chill out.

by Anonymousreply 2512/02/2012

It would be worth your time to go into the bank and talk with whatever person at the branch is in charge. Banks have been known to cancel charges like that when someone complains.

by Anonymousreply 2612/02/2012

No, R24. The bank processed the debit first, then the credit, so OP ended up 6 cents overdrawn. Hence the fees. That's how banks work.

[quote]And don't you have to pay a penalty each month if your balance is below a thousand dollars?

Retail banks offer a range of account options, including accounts with no minimum balance.

by Anonymousreply 2712/02/2012

[R28] You had a point until you dissolved into a cunt yourself

by Anonymousreply 2912/02/2012

OP/R16, as you probably know (if too young, I apologize), in 1986 there were banking reform laws (one GOOD thing Reagan did!); one of the reforms was regarding check holds. Most banks are supposed to have the holds posted where you can see then. The only thing that usually takes longer than 3 full business days is an amount over $5,000. At least that's what my former bank, Citibank, did. I would call or better go into your bank (better chance of someone who speaks English, perhaps?) and ask about this. best of luck.

by Anonymousreply 3012/02/2012

R28 suffers from Impecunious Shodden Syndrome.

by Anonymousreply 3112/02/2012

There is nothing wrong with being poor...it's being poor AND stupid that's wrong.

by Anonymousreply 3212/02/2012

r33, there are plenty of rich stupid people, too. And then are are poor stupid people who think they are rich. There's a few of them on this thread.

by Anonymousreply 3412/02/2012

The banks can deduct the transaction immediately, but to credit the account takes 2 days or more. They always work that way.

by Anonymousreply 3512/02/2012

"For two or three weeks, you're gone and it's awesome."

Just like genital herpes. It just keeps coming back. You would know.

by Anonymousreply 3712/02/2012

[quote]shelled out two grand to fly my cat over because I am destitute

I had no idea you were so obscenely wealthy. Maybe, just maybe, you will, in eight or seventeen years, have socked away enough coins to replace your particle board furniture with pieces heavy enough to almost justify not moving when you infrequently vacuum.

by Anonymousreply 3812/02/2012

Seriously you guys have never over drafted your bank account? Op- I m sorry this shit is going on call the bank on Monday and get in front of a "specialist" or something. You might be able to get some of the charges reduced. I have been there bro.

by Anonymousreply 3912/02/2012

Me too, OP. It doesn't mean you're a bad person (or god forbid, POOR!)

But definitely find a credit union you're eligible for and get your money over there.

by Anonymousreply 4012/02/2012

[quote]Seriously you guys have never over drafted your bank account?

Yes, but my credit union took it from my overdraft protection account and charged me no fees. Unlike OP, I don't support commercial banks that screw customers.

by Anonymousreply 4112/02/2012

Wells Fargo does not charge an overdraft fee for amounts under $5.

A lot of the big guys got sued and I'm waiting for $12 check from the class action suit to arrive.

Also you can have as some mentioned overdraft taken off, so that your bank with just reject the transaction rather than paying then billing you $33

by Anonymousreply 4212/02/2012

[quote] Unlike OP, I don't support commercial banks that screw customers.

Smell you Mary

by Anonymousreply 4312/02/2012

Do what some others on here have said and join a credit union. You can research credit unions in your area by going on the NCUA.gov site.

by Anonymousreply 4412/02/2012

So OP had $18.12 in his checking account?

by Anonymousreply 4512/02/2012

The petty problems of the underclass are so tiresome.

by Anonymousreply 4612/02/2012

It is ridiculous. I was a stellar bank customer for 25 years at WFB. Then one day I got account hacked and someone opened up an online gambling account with ALL my info. It was a Nightmare! I cleared it up right away, closednthe account, filed a police report etc. and transferred money right into the account from another bank. Well this resulted in twenty two overdraft fees as the perp kept overdrawing continuously after going through 10,000 in about two hours.

Because of this WFB never actually closed the account because of some bizarre reason of it being overdrawn. Going forward the held my deposits for weeks. I was self employed so when I deposited checks they were all well over $10k or more. They never did this before. They would take the money out of my savings and charge me fees. They would wen give me deposit slips saying when the deposit would be available and I would schedule payments based on that but they would STILL HOLD THE SEPOSITS FOR DAYS!! Resulting in even more fees. I got so pissed I just changed banks. There was a class action I got in on and got several hundred back but they took thousands that way. Is was unnerving that they treated me like a deadbeat while I still had a huge amount of money in their bank. It was like talking to the wind.

by Anonymousreply 4712/02/2012

R50, that is absolutely terrible what you went through. I would want to go postal; cut a bitch. Seriously.

by Anonymousreply 4812/02/2012

r19 is smart. Get over yourself, r20.

by Anonymousreply 4912/02/2012

I want to thank the person who mentioned being able to stop your bank from allowing overdrafts. I just changed my settings online. Wish I had known about this a week ago.

I got fucked by my credit union when an online payment I canceled ended up being put through a week after it was originally scheduled causing me to bounce a bunch of things. They won't admit to the mistake and claim I changed the schedule date. I canceled the payment when I ended up having to go out of town unexpectedly and wanted to make sure I had enough money. If I was going to change it I would have scheduled it a couple of days later for my regular pay day.

I have found my credit union to be a whole lot less responsive than the big bank I was with. Customer service is only available 9-5 with routine 30 minute waits. I found out that their online banking is done 3rd party and they have no access to the records and their fees are almost as bad as a regular.

Am seriously rethinking of going back to a big bank.

by Anonymousreply 5012/02/2012

gas, grass, or ass.... no one rides for free.

by Anonymousreply 5112/02/2012

Banks suck but the OP is worse. This is obviously a made up post.

by Anonymousreply 5212/03/2012

Paypal is for amateurs.

by Anonymousreply 5312/03/2012

my credit union's fees are equally high and their bill pay sucks. really disappointing.

by Anonymousreply 5412/03/2012
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