4. Written by Edward, on 20-06-2008 20:55
I just wanted express my personal opinion to everyone on this particular bank. I feel that it's one of the worst banks you could possibly do business with. I've been a customer with them for 5 years, and they recently charged me over $700 in overdraft fees in one day. Apparently I had "pending" transactions that went though which over-drafted my account. On the day this happened, I was using my debit card all day in the subway ($2 a pop) with no knowledge I was over-drafted, and they were letting the transactions go through. They charged ($35) every time I used the card, which at the end of the day, for about 40$ in transactions, they charged me over $700 in overdraft fees. Now, mind you, I had plenty of money in my savings account and credit card to cover the overdrafts, but they made no effort to cover me, or alert me that I was over-drafting. When I called to ask about at least getting some of it refunded, they treated me like sh*t and said there was nothing they could do. Now, $700 isn't a crazy amount of money, but the fact of the matter is, they're scam artists. What other company do you know of that is allowed to charge roughly 170.5% interest on borrowing money ($700 they charged % $40 I borrowed.) There are laws against this kind of thing, but apparently there is no law governing how much a bank can charge in overdraft fees. This is like someone coming up behind you and jacking your wallet, except since you have your money in their hands already, it makes it that much easier. I feel as though there should be more laws written on banking practices. I take the blame for not balancing my checkbook as well as I should have, but I'm outraged at the penalties banks charge people for this, it's a legal form of robbery.
It seems all I can do now is spread the word, do yourself a favor, DO NOT BANK WITH THIS COMPANY! PEACE!
TJ
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