In followup to our post on how 5/3 Bank racks up overdraft fees by treating pending charges like they’re processed, we asked customer service, “What’s the rationale for counting pending debits against the ledger balance? Isn’t that contrary to the definition of pending, and how banks traditionally handle transactions?”

They replied:

Thank you for using Fifth Third Internet Banking. In response to your inquiry, you cannot use your debit card unless there are actual funds in your account to cover the transactions.

Ouch. There you have it folks, don’t be confused by funny words like “pending” or “ledger balance,” treat your 5/3 Bank debit card like a magic money wand that insta-swoops cash from your account. You’ll never game the float in this town again. — BEN POPKEN

PREVIOUSLY: 5/3 Bank’s New Overdraft Fee Stream: Treat Pending Charges Like Processed!

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