How can I convince my bank to reverse overdraft charges?

Question

I recently was slammed with 10 overdraft charges of $35 each for 10 items that cleared my bank on the same day. It was my fault for overdrawing the account, of course, but I think the bank went overboard. Some of the overdrafts were for just a few dollars. I want to talk to the bank to ask them to reverse some of their fees. Looking for suggestions on how to get them to do this!

Answer 1

I had that happen to me a couple of times also with my ATM card. I got messed up simply because some of the charges were not deducted from my balance until a week later. The whole time I am thinking that I had more in my account than I really had so when the $128 charge hit me a week later, they didn't charge me the overdraft fee on that particular transaction- They charged me on all 15 transactions that followed. It was almost like they fixed it that way.. where they purposely held the $128 transaction so that I could keep overdrafting without knowing it and THEN retroactively hitting me for the other transactions. It was double jeopardy. I kept putting the small amounts of money back in the back to cover those transactions as I was making them but because I was getting hit for $35 for every $4.32 transaction, there was no way I could keep up. So I went to my local branch to see the manager and I explained to her that I got WAY off track and its my fault that things got that way, but I am trying to pay my rent and feed my kids. To have a $525 chunk taken out of my account over $38 in transactions was TERRIBLE. And in that I even kept insisting that it was indeed my fault but I really needed my money back.

The manager said, "Well as a courtesy we normally remove one for you but I will tell you what- I will take 8 of them off." and I graciously thanked her for it. I was still down $245 but that was better than having my entire direct-deposited paycheck absorbed by bank fees.

Answer 2

Yes, ask the branch manager for help. Very politely admit that you made an error and request that the fees be waived. Also, ask if there is any way to prevent this in the future. They will have some type of overdraft protection to offer you. Accept it. It will be seen as a sign of your intention to continue your banking relationship. They want your business and what better way to show them that you will stick around since they have given you such great service. Now here is the catch. They are probably going to give you a line of credit. If you are not good with credit, close it (but of course, not on the same day they give it to you). If you are able to keep it in control, keep it because this may help you if you ever make an error again. The bank wants customers that have more than one product with them. When you become a true customer (people with checkings accounts actually cost the bank money) they will be more than willing to help you out. But don't expect all 10 fees to be reversed unless you are a sweettalker.

Answer 3

It depends on your bank, your financial history with the bank, and your personal skills in resolving this matter.
First, see a branch manager, IN PERSON, and explain your matter. Be firm, polite, and understanding no matter the outcome.
If you have a history of overdrafting your account, the branch manager may not the reversal of the fees. Remember, they want to keep you as a customer if you have a positive history with them. Keep in mind though, the branch manager may not waive all ten, perhaps one or two, because ten really is excessive.

Answer 4

First, do not argue with them. It happened to me once and I had no idea they would do that. I thought my debit card simply wouldn't work when there is no money, but, instead, they advanced the fund and charged me. I was so shocked and told them I had no idea. But I admitted it was my fault that I didn't take time to read ALL the fine prints on my account agreement for I was sure it was explained on it very clearly. I also immediately added more than enough fund to my account to cover whatever they charged me plus more. Then I asked very humbly is there anything at all they could do. They basically felt sorry for me and only charged me half the amount.
The banks don't like people making up excuses. Admit your fault and then ask very nicely.

Answer 5

certain, ask the branch manager for help. Very courteously admit that you made an mistakes and request that the expenses be waived. also, ask if there is any thanks to circumvent this contained in the destiny. they'd have some form of overdraft protection to furnish you. settle for it. it's going to be considered as an illustration of your purpose to proceed your banking relationship. they opt for your business enterprise and what better suited thanks to expose them that you'll stick round when you consider that they have given you such tremendous service. Now right it truly is the capture. they are probable going to furnish you a line of credit. if you're no longer good with credit, close it (yet of direction, no longer on an same day they provide it to you). if you're prepared to keep it on proper of issues, keep it because this would help you in case you ever make an mistakes again. The economic employer needs shoppers which have better than one product with them. once you change right into a real shopper (those with checkings debts easily fee the commercial employer funds) they are going to be better than prepared that would help you out. yet do not assume all 10 expenses to be reversed till you're a sweettalker.

Answer 6

If you talk to the branch manager and ask nicely and admit that, yes, it was your fault but you have never incurred any overdraft charges before and have been a steady customer for x number of years they may be willing to reverse some of the charges.

Answer 7

That is a hard one. You have to be nice and ask politely. I was assessed $30 for a 28-cent overdraft....you want to talk about being mad. Best of luck.