Looking for people that have had issues with banks charging more than should be. Such as one overdraft and they create multiple NSF fees, adding insurance to loans without proper notice or doing it legally. Contact me with your story !!!!
2006-06-30 06:01:04 · 4 answers · asked by mgrboy 3 in Business & Finance ➔ Personal Finance
I absolutely hate the banks and what they are doing but before disclosing my story (and I do believe our current government is allowing banks to set up what may, in the end, create a huge economic crisis), I'd like to know who you are and why you ask.
Obviously you can contact me via this site.
Oh..and I'm a financial pro so I actually understand what is happening better than most.
2006-06-30 06:27:06 · answer #1 · answered by Lori A 6 · 4⤊ 3⤋
My brother had this problem. He had an automatic withdrawal every month. All of a sudden, it stopped coming out on the 8th. Mysteriously, it came out a few days later, or a number of times in a row, until he was overdraft. Then the payment would be sent back, then taken out again (in the same day), causing another overdraft (or two or three). Meanwhile, he would get overdrafts on other items because of other bills. So they started holding his paycheck for 2 days because of negative activity. He'd go to the atm to get money when it cleared, and he'd have no money! Somehow, a Friday deposit before 2 that should've cleared by Tuesday, wouldn't clear til Wednesday or Thursday allowing for a bill on Tuesday to go through and bounce! He talked to his creditors and thought he worked it out, but it happened for 4 months in a row. Now he deposits cash just to keep the automatic payments going til he can find a good credit union. A PB I know says that this is not an uncommon experience for her bank.
2006-06-30 06:12:15 · answer #2 · answered by Ananke402 5 · 0⤊ 0⤋
The banking industry is heavily regulated. They charge what you agree to when you open the account. The multiple NSF fees probably comes from you overdrafting your account. After the account is overdrawn, every transaction is going to cause the fee to hit your account.
2006-06-30 06:12:20 · answer #3 · answered by jlamb_2000 2 · 0⤊ 0⤋
most banks wait to post your deposit after they post checks to be paid, so they can charge nsf.
2006-06-30 06:16:13 · answer #4 · answered by sinnett 1 · 0⤊ 0⤋