Will was meticulous about avoiding the succubus that is overdraft protection in his Bank of America checking account. So you can imagine what happened to him: The bank automatically stuck him with the so-called protection thanks to an automatic function that stuck him with a $100 credit card cash advance, along with the accompanying finance charges. [More]
“Don’t overdraw your bank account” is pretty sound advice. However, reader Phil advises that if you do happen to overdraw your HSBC account–even by a few cents–the bank will mercilessly close your bank account with no warning. That’s what happened to him. [More]
According to Robert, Chase is taking the Steve Urkel approach to persuasion, asking him again and again if he would like to partake in its delicious overdraft protection, brushing off his continuous “no” answers as Steve always did to Laura in Family Matters. [More]
Jennifer wrote earlier this month about Wells Fargo’s inability to come to terms with the fact that she is a married woman who changed her last name. Maybe the bank had a thing for her and couldn’t deal with her not being single anymore. Whatever the case, Wells Fargo finally corrected her name on the accounts. [More]
Jennifer has banked with Wells Fargo since 1996, and thinks the bank must have gotten so used to her maiden name that it refuses to acknowledge her married name. No matter how often she’s complained, Wells Fargo refuses to acknowledge the name change on all her accounts and keeps sending her cards with her former moniker. [More]
Brad is a customer of Fifth Third Bank. He’s annoyed at the bank’s marketing practices. He tells Consumerist that when he transferred a large amount of money from his account with a credit union, Fifth Third decided that he clearly had too much money, and they wanted to help him open a savings account to remedy that situation. Well, that’s not what they said, but close enough. [More]
Sean is accusing Wachovia of using tricky online transaction posting that makes it difficult to tell when you’re in danger of slipping into the red. He says that although his account never appeared to be overdrawn, but he was still hit with overdraft charges thanks to funny accounting. He writes: [More]
Jared thought he had enough money in his Wachovia checking account to cover a mini-spending spree, but he found out soon after that he’d racked up big-time overdraft fees. Now he’s not sure whether or not he should pay Wachovia the money he owes or just cut and run and start over with a new account somewhere else. [More]
We all know that banks offer overdraft protection because it makes them money, not because they want to be kind to customers. Still, it seems weird–or maybe just brutally honest–that Citibank would cancel Corrie’s overdraft protection service simply because she’d managed to avoid any overdrafts since she opened her accounts. [More]
Banks now make more on debit card overdraft fees than credit card penalties—they’ll rake in about $27 billion in 2009 alone, according to the New York Times. They obviously have zero incentive to curb the practice. In fact, one economist told the paper that “45 percent of the nation’s banks and credit unions collect more from overdraft services than they make in profits.”
Earlier this week we wrote about how BoA told Jesse he could never have an account with them, but they wouldn’t give a specific reason. A lot of readers and tipsters suggested ChexSystems was the culprit, so we asked Jesse if there was something in his credit past causing the problem.
After reading about how Jesse was banned for life from Bank of America for no clear reason, other readers wrote in with similarly bizarre BoA stories. Wayne was locked out of his new account after he opened it and charged a $75 overdraft fee. Chris was sent checks linked to a duplicate account and then charged penalties when the checks bounced. Edward’s new account was closed but the CSR refused to tell him why, and he was charged a $60 “research fee” for the closing. When Edward went to a BoA branch to clear things up, he says the employee there told him, “That’s why you don’t open up accounts online.”
Reader Zach is having some trouble with Blizzard and is wondering what he should do. He tried to download a copy of Diablo II from their digital store, but the download didn’t work. Blizzard’s customer service then tried to download it again — which also didn’t work. Finally, they told him to buy it at an actual store — which he did. Now he’s bought the game three times and would like some money back.
A reader writes in to tell us about “the world of suck I encountered at WaMu” over some wrong personal data. A year and a half ago, she started receiving Washington Mutual account mail—including overdraft and collection notices—for someone named Ly Ly V____ at her address. “I’ve lived at my home for 11 years, and have no neighbors with that name.”