I hope this is the right place to ask this. Over the past few years, my bank changed to a new bank and has went under some changes since it was under new ownership. The problem is it has started charging overdraft fees when you don’t actually overdraw your account, and I don’t know if this is normal for banks now or what, but I know for mine it was not like this before all the years I’ve had it, and everyone I know who banks other places says theirs do not do this.
This has happened to me twice this year, for the same exact thing. I had a small reoccurring bill take out that had slipped my mind because I am usually not this low on funds and typically don’t have to worry when it takes out. After it took out it showed my balance as being $20 and that is what I had. Then I was slapped with a big overdraft fee right after that transaction which then put me in the negative because a credit transaction for $23 had started pending. It did for three days before it cleared, but I got the overdraft fee as soon as it showed up as pending. By the time that $23 payment cleared my paycheck had already been direct deposited, so it covered it anyway in the end.
I called the bank about it and they said it’s justified because now when something is pending and hasn’t cleared yet, they go ahead and subtract it from your balance, so that means I didn’t have enough funds and they covered it. Is it right for them to do this? I have thought about switching for other things I didn’t like here since the change, but I have only ever banked here since I was a teenager, so I’ve put off switching because of the hassle of it, but should I?
Also I know I should be more careful with things like this, because it was a close call, but I am usually pretty diligent about keeping track of things so this isn’t a regular occurrence.
Submitted December 18, 2018 at 04:35AM by UrbanMuffin https://ift.tt/2Gs0dL3
