Does a bank have to reveal the check number of my check that I unintentionally bounced? They charge 35 dollars

Question

I wrote at least 4 personal checks, all at about the same time that bounced because a cash distribution from my IRA.got hung up for five weeks. Thinking money would come any day I did not try to liquidate other instruments and did not cover my deficit.
I have three questions. In a 6 week period at least 40 charges of 35 dollars appear on my statement as penalty for each returned check. Thats over 1,200 dollars of penalties and except for the initial return of a check, they say they do not keep record of the checks that have been re-submiited. Can they do that? (I'm in Mn).
Is it appropriate that the bank charges me 7 dollars per day for being overdrawn?
They also charged me 140 sdollars for interest on my reserve line neg balance.

Answer 1

Everything should appear on your bank statement(s).

I'm curious ... for 6 weeks you didn't notice this was happening?

Answer 2

The 40 charges for $35 sounds excessive...figure that most companies submit your checks twice for NSF's...and whenever I have a bounced check, I have always been shown which check and the amount. You need to contact the places that you wrote to checks to because they will have your checks...the banks do not.

I would suggest that you go into the bank and see if you can talk to the bank manager...you may be able to get more information that way.

You may want to think about change banks too. Yours does not sound very customer friendly. I know you can't close your account with a nagative balance, but why give them even more money. Take to time to find out everything...don't just fall for the "free" checking, or whatever other carrot they dangle in front of your nose.

Answer 3

Yes to all of the questions. You should be able to get a print out of your account activity and that way you can see the number of the check that bounced and if any were resubmitted. I would also look at changing banks. I have my main checking account at a credit union. I have overdraft protection and the charge is a 22 dollar fee for each returned check.There is no fee per day as long as you cover the debt within 45 days.

Answer 4

When you opened these accounts, the fees were disclosed to you. Whether you chose to read them or not, you were told that these fees applied. The issue here is not what the bank is doing, but what you did by knowingly being in debt and refusing to cover those debts because you figured that, sooner or later, you would have money coming in. It doesn't work like that.

When you write a check you are responsible for that debt. Letting the check be out there for 6 full weeks without attempting to cover the funds is rediculous. Did you think that the bank was just going to throw up their hands and say, "Oh, well, we tried". Nope.

Write good checks from now on or use cash.

Answer 5

Why on earth would you write checks for money you knew was not there? Even if you were expecting a deposit you should not have written the checks until that money was in your account. You can see if the bank will work with you on the fees. Since you were notified of the deficit and chose not to do anything about it at that time you really have no one to blame but yourself.

Answer 6

A bank not keeping a record of a transaction does sound far fetched..How could they not keep records and come up with an amount to charge you?? They'd have to be pulling the number out of thin air..
I'd have a hard time believing that..

I would also say that they are charging what is legal to charge,, whether it's right or not..

Answer 7

Banks aren't in business to tell you how much money you have or don't have. They make their money off irresponsible money managers. We've all been there, but it looks like your really deep in it. And yes, they can, it's all in the contract you signed when you opened your account.

Answer 8

yes

Answer 9

yes they do.... have you contacted them?