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.
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.
Bankruptcy Wizard
)
Comment