$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 Anonymous||reply 57||12/03/2012|
OP, contact the Consumer Financial Protection Bureau.
|by Anonymous||reply 5||12/02/2012|
You still have a checking account at a bank?
Lie with dogs, wake up with fleas.
|by Anonymous||reply 6||12/02/2012|
You had an option to "opt out" of overdraft protection.
|by Anonymous||reply 7||12/02/2012|
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 Anonymous||reply 8||12/02/2012|
[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 Anonymous||reply 9||12/02/2012|
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 Anonymous||reply 10||12/02/2012|
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 Anonymous||reply 11||12/02/2012|
[quote]Am I the only one who finds this story baffling?
No, you are not.
|by Anonymous||reply 12||12/02/2012|
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 Anonymous||reply 14||12/02/2012|
[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 Anonymous||reply 15||12/02/2012|
"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".
|by Anonymous||reply 16||12/02/2012|
[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 Anonymous||reply 17||12/02/2012|
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 Anonymous||reply 18||12/02/2012|
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 Anonymous||reply 19||12/02/2012|
Smell miss priss the school marm at r18. You've got it allll figured out, huh?
|by Anonymous||reply 20||12/02/2012|
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 Anonymous||reply 21||12/02/2012|
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 Anonymous||reply 22||12/02/2012|
Read R10 again. He is 100% right.
|by Anonymous||reply 23||12/02/2012|
[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 Anonymous||reply 24||12/02/2012|
R13/R20 needs to chill out.
|by Anonymous||reply 25||12/02/2012|
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 Anonymous||reply 26||12/02/2012|
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 Anonymous||reply 27||12/02/2012|
[R28] You had a point until you dissolved into a cunt yourself
|by Anonymous||reply 29||12/02/2012|
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 Anonymous||reply 30||12/02/2012|
R28 suffers from Impecunious Shodden Syndrome.
|by Anonymous||reply 31||12/02/2012|
There is nothing wrong with being poor...it's being poor AND stupid that's wrong.
|by Anonymous||reply 32||12/02/2012|
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 Anonymous||reply 34||12/02/2012|
The banks can deduct the transaction immediately, but to credit the account takes 2 days or more. They always work that way.
|by Anonymous||reply 35||12/02/2012|
"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 Anonymous||reply 37||12/02/2012|
[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 Anonymous||reply 38||12/02/2012|
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 Anonymous||reply 39||12/02/2012|
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 Anonymous||reply 40||12/02/2012|
[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 Anonymous||reply 41||12/02/2012|
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 Anonymous||reply 42||12/02/2012|
[quote] Unlike OP, I don't support commercial banks that screw customers.
Smell you Mary
|by Anonymous||reply 43||12/02/2012|
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 Anonymous||reply 44||12/02/2012|
So OP had $18.12 in his checking account?
|by Anonymous||reply 45||12/02/2012|
The petty problems of the underclass are so tiresome.
|by Anonymous||reply 46||12/02/2012|
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 Anonymous||reply 47||12/02/2012|
R50, that is absolutely terrible what you went through. I would want to go postal; cut a bitch. Seriously.
|by Anonymous||reply 48||12/02/2012|
r19 is smart. Get over yourself, r20.
|by Anonymous||reply 49||12/02/2012|
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 Anonymous||reply 50||12/02/2012|
gas, grass, or ass.... no one rides for free.
|by Anonymous||reply 51||12/02/2012|
Banks suck but the OP is worse. This is obviously a made up post.
|by Anonymous||reply 52||12/03/2012|
my credit union's fees are equally high and their bill pay sucks. really disappointing.
|by Anonymous||reply 54||12/03/2012|