Has anyone ever noticed that whenever you are nearing 0 balance in your checking account, banks will do something to make it go over, so they can charge you?
Well, it happened to me yet again.
In November, I loaned a friend $70. Because the closest bank is a while away, I wrote a check and gave it to the said friend. This friend cashed, spent it and gave me back what he owed in the beginning of December, but I noticed that the bank has not yet taken out the money.
At the same time, since it was around holidays, I spent quite a bit and my pay day was running late, but I was careful not to spend any more than I had. On December 8th, I received my check from my work and decided to go and place it in the bank. I used the ATM, as it was late already and the bank was closed. This is what I did:
- I deposited a check for $420.75
- I checked my balance, which was $40something
- I withdrew $20
- I got my receipt and went home
When I got home, I was going to place an order online, so I checked my bank online, and was unpleasantly surprised. According to them, I was over my balance, so they charged me $33 for insufficient fees. Immediately, I wanted to see their logic, and this is what they had:
- $70 check was debited
- I withdrew $20
- Insufficient fees were debited
- I deposited my check
Well, this is not what my receipt from the ATM states, so I emailed them about it. Since it was their mistake and I had obvious proof that this is not how it happened, I did not see how it was fair that they would charge me. Right? Besides, they took out a check from my account about a MONTH after it was spent.
Apparently they can withdraw the check whenever they want to, and I have to guess and watch my balance. They told me that they will "waive it this once" just because it was my first time. This continued with me trying to tell them that it was their fault, and I have a receipt to prove it. But they did not budge. They did refund me the $33, but at this point, it was more of a principle thing. I don't appreciate being blamed for something that was not my fault. So this continued for a while, until I gave up.
This makes me wonder, though. Are there people employed by the bank to actually sit around and wait for the accounts with low balance to run close to empty and then they press some magical "steal money" button and debit your check, for example? Because this is what it feels like. Once you are low on money, they make sure to withdraw something else and fuck you over.
I don't know how many banks do this, but so far this has been done to me by Bank of America (which I quit), and WaMu, and now Chase.
Bleh. At least Chase has actual people answering your emails instead of a machine. Yay.