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Grrr...thieving banks -- need to vent

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    Grrr...thieving banks -- need to vent

    OK, so I had a checking account with Citibank and one with TD Banknorth. I've never had a problem. I lost my job six months ago and get an electronic deposit of unemployment insurance payments once a week -- I've been working with the TD account because the bank is closer.

    In any case, Citibank had been deducting a $7 charge per month from my free account because I hadn't made any electronic payments (go figure.) I didn't know that I had to make bill payments out of my free account to make it stay free, but whatever. I got a letter from them today that said my account was overdrawn. I go check and they had taken their $7 which made my account $3 overdrawn and then they took an additional $34 because it was overdrawn. I call to close the account -- can't close the account because it's overdrawn. Fine. I run down to the bank at 2 am to make a deposit -- by check from my TD account so that I can close the Citibank account.

    Now my TD account has about $30 in it and my unemployment check should get deposited today, but is delayed a day because of the holiday on Monday. Fine, I think, I'll check the account and deposit cash to cover the check I wrote to Citibank. At 11 am, I log on to the account and see that the TD account is overdrawn. Apparently, I have been assessed a $60 -- pending overdraft fee. I make a deposit (same day) and call up customer service. Apparently, TD has given itself the right to assess an overdraft fee *before* there is an actual overdraft. The check I wrote at 2 am in the morning didn't clear and there were enough funds to cover any debits I made -- my account is +$100 now (same day) but basically because there was a possibility of an overdraft for about 3 hours today, TD assessed a fee.

    Unbelievable.

    Thanks for letting me vent.

    #2
    We have been through this same thing. The Rich get richer, the Poor get poorer. We have not bounced a check in 42 years. At this time, it is a checker game to see who gets paid first till the next $30 nsf. 'Hub
    If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

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      #3
      Fees are the basis of any Bank. They make a good part of their money from fees in the "Consumer" banking part of their business. The other place to make money was on jacking up interest rates to 29.99% on your credit cards when you missed one payment.

      And they wonder why people are in a credit crunch. The interest rates on Credit Cards -- those teaser fees -- are incredible. Most don't read the fine print. I spent 18 months working on credit "disclosures" and know the game quite thoroughly now. Some of it is mind boggling, and the Bank's are not shy to actually state in the Terms and Conditions (Credit Card Agreements) that they will apply payments in a manner that benefits them the most.

      Yes, they are in it for the money.
      Last edited by justbroke; 09-03-2008, 04:07 PM.
      Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
      Status: (Auto) Discharged and Closed! 5/10
      Visit My BKForum Blog: justbroke's Blog

      Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

      Comment


        #4
        THIS is why I will get one credit card for emergencies and live on cash for the rest of my life.
        Very fortunate in the grand scheme of things but have learned my lesson.

        Filed 12/15/08, 341 1/12/09, Cont to 2/12/09, cont to 3/12/09, cont to 4/15/09, cont to 5/11/09, cont to 6/02/09. Discharged 9/16/09, Closed 10/23/09

        Comment


          #5
          Welcome to the world of organized crime, cults.

          Comment


            #6
            Organized crime, indeed. Having just narrowly averted a similar scenario (employer didn't tell anybody our direct deposits would be delayed because of the holiday; they never have been before), I feel like you took a bullet for me. I'm SO sorry this happened to you!
            Filed chapter 7: June 9, 2008
            341 meeting: July 18, 2008
            last day for objections: September 16, 2008
            DISCHARGED September 18, 2008 - CLOSED September 29, 2008

            Comment


              #7
              BOA's other identity...Citibank...just kidding....

              Best way to avoid overdrafting your acct.

              Make a choice: either use only cash or only credit and lock up your debit card.

              If you go over your limit on your cc, it's a one-time fee....on your bank account, they will jack you for every overdraft they can....been there/done it.

              You must know your budget and keep track of things (do as I say, not as I do, right?)

              Seriously, it's only seeming like it's getting worse.
              Filed Oct 2005discharged February 2007,Shapeless in the fire's glow, tell me if you think you know,
              Who it was we were below, where we've been and where we go

              Comment


                #8
                Originally posted by AngelinaCatHub View Post
                We have been through this same thing. The Rich get richer, the Poor get poorer. We have not bounced a check in 42 years. At this time, it is a checker game to see who gets paid first till the next $30 nsf. 'Hub
                Yes, we have too. It's so wrong. People wonder why the economy is failing, well part of it is the disappearing middle class as the the rich get richer and the poor get poorer like you said.
                Hi, I'm new here.

                (Link Removed By Moderator)

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