National City Bank charged me overdraft fees of $306 on one day?

Question

On 10/5/2007, I had $126.19 on my National City Bank checking account. Past several days I used my National City Bank Card to purchase things and I spent things like $1.05 for drink.. about 10 items with $2.00 or less. I also spent things to purchase that cost me about $20.00 or more for each.

I login my online banking everyday and this morning when I got on, it showed 9 items for overdraft fees for $34.00 each so
total overdraft fees showed as $306.00.

If bank posted things that I purchase in order I purchased
I would only need to pay 1 item for $34.00 but the bank posted
everything from highest amount resulting 9 items of overdraft fees.

I visited my branch office but office manger there is very unfriendly and keep saying that I spent money when I didn't have enough in my account. But that is so wrong because
if they deducted everything from things that I spent first then
I would be overdrawn by that much.

Is there any other way I can get my money back?

All charges were made with National City Bank Card as credit (DID NOT WRITE ANY CHECK). Some of you don't understand but to make it easy, lets say I had 20 bucks in my account, I charged with my National City Bank card as credit to pay $1.00 drink 10 times (that equals $10.00 ) on 10/6/2007 and I accidentally charged $19.00 on 10/8/2007 to purchase something else then I should only need to pay 1 overdraft fee of $34.00 for charge I made 10/8/2007 but the bank waited and posted $19.00 first and posted 10 items of $1.00 on same date so that made 9 overdraft fees. Do you think this is fair? I am willing to pay 1 overdraft fee for last money I spent but it just isn't right that I need to pay for 9 overdraft fees. They should have post $1.00 items first as it was spent on 10/6/2007 so then from $20 original account balance - $10 ($1.00 items) = leaves $10.00 on my account and I would only have to pay 1 overdraft fee of $34.00 for $19.00 made on 10/6/2007.

Answer 1

Try calling customer service..they should be more helpful.

Answer 2

To be honest, I don't understand why it matters if you have enough available balance on your account. It should not effect which purchase the bank posted first. Do you keep track of you own checking account, or you were playing roulette and see if you can get away from the overdraft charges.

For example, you have $150 available balance, and you spend them in this order within your available balace, $50, $2, $1, $ 30 so the balance would be $100, $98, $97, and then $67. Or like you stated the bank post the highest amount first....$50, $30, $2, and $1. Now the balance is $ 100, $70, $68. and $67.

I don't think you can get your money back, it sound like you did have that first $20 you spend from the beginning.

Answer 3

liwen_bonita is so wrong. It doesn't matter which order charge was posted if overdraft fees only occure once but it matters very much if overdraft fees are charged 9 times.

If you have $5 on your account and spent $1, $1, $1, $1, $1, and $20 and if bank post $20 first then it would be overdrawn and you will have to pay for all overdraft fee for $20 and the remaining $1s. On the other hands, if bank post $1s first and post $20, then you will only have to pay 1 overdraft fee. That makes huge difference.

Answer 4

No. You need to keep better track of you bank balance. keep an accurate check register, including posting all those debit card transactions. Set a specific amount that you never allow the balance to go below. When your check book register hits that balance, don't write checks and don't use your debit card.

There is no way the bank can post transactions as you did them. They don't hit the bank that way. Checks would take weeks or months and debits card transactions take 2 or 3 days, sometimes more.

All banks process transactions largest amount first. The theory is that the larger amount is more important. You wouldn't want your mortgage payment to bounce because you spent $2 at the fast food place.

All those fees are yours. The bank manager is right. You did spend money you didn't have. Now if you had went in and talked to the manager without attitude, he might have forgiven some of those overdraft fees.

Answer 5

If your account was overdrawn, then it was overdrawn and no, you can't get your money back.

When I read your question I noticed a "red flag". You said that you login to your account everyday. I'm assuming you do this to see how much money you have available to spend. DO NOT rely on this "available balance" to decide how much you can spend today. Sometimes a debit card purchase can take an extra day or two before it shows up as a pending transaction in your bank account, then of course it has to clear. So, you absolutely must write down your purchases and balance your checkbook or else eventually it will catch up with you and you end up with a bunch of NSF fees.

Answer 6

You should open the account able to see on the internet. Than you able to check everyday. If not enough money to pay the other bill, than you know you have to put more money in the bank. All the bank charge a lot of money for overdraft fees. This is the way they make money.

Answer 7

I even have 2 bills with BofA so if I lose my card no you will wipe out my account yet quite this has given BofA the final to wipe it out quite. I spend money and immediatly circulate money (i replaced into certain as quickly as I grew to alter right into a BofA shopper that that could be high-quality) on condition that then I even have spend hundreds and hundreds of greenbacks in overdraft expenditures. They value optimal quantity to lowest then additionally they value for pending transactions even once you have the money interior the mark downs and circulate it in before it posts. Even worse they wait to positioned up stuff now (a clean coverage i found out) that's humorous because of the fact the reason I went with BofA replaced into the categorized classified ads asserting everthing shows on line directly because of the fact i do no longer keep a sign in. So now additionally they teach a transaction for some hours after the intial purchase as pending then it disapears (they advised me they have 5 days to positioned up something and that's the reason it particularly is faraway from the pending transaction checklist) and while you're no longer likely careful and think of it went threw it screws up your stability they wait till finally the oppurtune time to positioned up to overdraw your account and yet lower back now you're paying expenditures for expenditures. Then they have all those different a thank you to value expenditures like they wait 3 4 days to positioned up the expenditures on your account in hopes which you don't comprehend you would be charged the expenditures by utilising then and it takes 3 days to tell you by utilising mail yet by utilising then you definately've already overdrafted your self thinking you had alot of money interior the account. i'm switching to Chase right this moment as a consequence as they only introduced they might no longer be practising this crap.

Answer 8

Yes, complaint, complaint and complaint....Get media involved and closed your account