Journey Posted November 18, 2009 Share Posted November 18, 2009 So I usually put my paycheck into my older daughter's bank account and then transfer it into mine. That way, it gets into my account faster (I am a single mom on a VERY limited budget). Well, I accidentally transferred the money into my second daughter's account and didn't figure it out until last night. I did the transfer on Friday. So, there was money coming out of MY account that didn't have enough money. Thankfully I think only two things "bounced" but for each of those two I was charged SEVENTY FOUR DOLLARS. I cannot believe that. So I called the 800 number immediately and asked them to help me out because I have been a long time customer and have NEVER done anything like this before. The rude girl tells me that because it wasn't a bank error they couldn't help me. I asked to talk to a supervisor and she put me on hold and forgot about me. 10 minutes later I hang up and call again. This time I talk to someone else and explain my, MY error and she graciously took off one of the $74 dollar charges. Why the first girl couldn't do it I don't know, neither of them were supervisors...so I was still upset about it (because they couldn't take both charges off) so I decided to close my accounts and find a bank that treated their customers better and didn't have such huge fees. I called my local branch today and talked to the manager and she is going to talk to her manager and find out if there is anything else they can do for me. I know banks are hurting but so are so many of us. I can understand if I was a repeat offender but I've never done anything like this before. Do you guys think I'm being greedy trying to get my money back? Do your banks have that big overdraft fee? Quote Link to comment Share on other sites More sharing options...
eternalknot Posted November 18, 2009 Share Posted November 18, 2009 My bank's fee is $35-40ish. I had a similar situation as yours when my husband and I were first separated and we were working out which bank accounts to use for the transferring of funds. My bank was very understanding and split the fees with me (dropped one charge, kept the second). I think the mistake on your end was not FIRST going into a local branch. I know it's more convenient to do it all on the phone (I was a single, working mom at the time) but I've found that anytime they can put a face to the name ... they're more willing to help. To be honest, and since you asked, I do think you are being a bit greedy. Mistakes happen, and that's sure a bummer ... but this mistake was yours, not theirs. They've already done more than should reasonably be expected. I don't fault you for trying, but I do think it's unreasonable to expect the bank to eat the total cost of your unfortunate error. Most banks are for-profit businesses. The high overdraft fees could be rooted in corporate greed, but they could also be high to account for the type of transactions you just described -- the bank eating the cost of its members' mistakes. This seems like a one-time mistake that is unlikely to happen again; I would probably go back to the bank and re-open my accounts. You may find a bank with lower fees, but what's the point if this is a rare occurence? You're better off maintaining your longstanding relationship with the bank you were already at. Quote Link to comment Share on other sites More sharing options...
Mrs Mungo Posted November 18, 2009 Share Posted November 18, 2009 Our bank has over-draft protection. If something doesn't clear checking, it takes it from savings, or if that fails, adds it to your credit card. Quote Link to comment Share on other sites More sharing options...
Mom0012 Posted November 19, 2009 Share Posted November 19, 2009 My bank's fee is $35-40ish. To be honest, and since you asked, I do think you are being a bit greedy. Mistakes happen, and that's sure a bummer ... but this mistake was yours, not theirs. They've already done more than should reasonably be expected. I don't fault you for trying, but I do think it's unreasonable to expect the bank to eat the total cost of your unfortunate error. Most banks are for-profit businesses. The high overdraft fees could be rooted in corporate greed, but they could also be high to account for the type of transactions you just described -- the bank eating the cost of its members' mistakes. This seems like a one-time mistake that is unlikely to happen again; I would probably go back to the bank and re-open my accounts. You may find a bank with lower fees, but what's the point if this is a rare occurence? You're better off maintaining your longstanding relationship with the bank you were already at. I don't know. I think a $74 overdraft charge is outrageous. $20 is reasonable, but $74 is just downright dishonest and greedy of the bank. There is no way I would keep an account at a bank with these kinds of charges. I'm not too happy with my bank either, though. I do have overdraft protection, which a very rarely have had to use, but there are fees for this as well. Something like $10 per overdraft. Not that long ago, that was the fee if you didn't have overdraft protection. Lisa Quote Link to comment Share on other sites More sharing options...
olan719 Posted November 19, 2009 Share Posted November 19, 2009 DH is a bank branch manager, so he commonly deals with this type situation. His bank charges about $35 per overdraft. $74 is very high - are you sure that wasn't for both charges combined? That said, I agree with the pp that if you are in this situation again, it is best to go to your local branch. DH really tries to help customers that have made a first-time mistake like this, and will refund the charges up to a certain amount. Above that, he has to get permission from the county president. I really think your bank resolved the situation pretty fairly, especially considering you were dealing with a customer service line. The problem was not bank error, so you were pretty lucky to get one charge refunded. If you bank really does charge $74 per overdraft, then I do suggest you find a new bank. Also, like another poster said, you can tie your account to a savings or credit card to protect you from innocent mistakes like this in the future. Good luck! Quote Link to comment Share on other sites More sharing options...
Mommyof4ks Posted November 19, 2009 Share Posted November 19, 2009 It is annoying when that happens, but I make mistakes too so I just pay the charges. Our accounts are free and atm fees are not charged for any atm anywhere, so I don't mind the $29 fee when I mess up. $74 is crazy high IMO, so perhaps look for a bank that has lower fees so that if this happens again at least the amount will be less. Quote Link to comment Share on other sites More sharing options...
Tidbits of Learning Posted November 19, 2009 Share Posted November 19, 2009 If the over the limit fee is $74 then I would find a new bank with lower fees and make sure that they saw me every once in a while. My bank is great. They see me just enough in drive thru that they know me and my family on sight. I went in to the bank in person to open the account instead of online. I do a lot of online banking, but make sure that I pop in every once in a while or go through the teller line. I wouldn't go with a big chain bank. We use a local credit union. Credit unions are better than banks IMO. You normally have less fees and it is more personable. Quote Link to comment Share on other sites More sharing options...
Blessedfamily Posted November 19, 2009 Share Posted November 19, 2009 I think the bank waiving one fee is reasonable, the problem is, the fee was too high to begin with. If it had been 2 thirty dollar charges, you'd be out less than have what you are now. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.