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Oh man, I banked with US Bank back in 2003/2004. One day I overdrafted my checking account by about $5. "Overdraft protection" kicked in and they automatically
by c22 5y ago
Oh man, I banked with US Bank back in 2003/2004. One day I overdrafted my checking account by about $5. "Overdraft protection" kicked in and they automatically transferred money from my savings account, but not before charging a $25 fee that caused... another overdraft. This repeated automatically over a dozen times in one day to the tune of around $300. I noticed what was going on that evening and manually transferred some extra into checking to stop the cycle.
The next morning I went in to sort it out and was told I needed to travel an hour away to the branch I had originally set up my account at. Upon arriving at my "home" branch I was told the manager was on vacation and no one else could help, but she would call me as soon as she got back. Two weeks later, having received no call, I went back in and saw the manager sitting at her desk. I closed all my accounts on the spot and never looked back.
- passerby1 5y agoThere're several of stories of some level of craziness here in the thread. I wonder why none tried to sue bank? Are banks in the US really above the law? Or probably not too high to be sued, but enough to make good money.
- c22 5y agoLawyers cost money. There are a lot of bad actors in the US that know they can get away with stealing small amounts from people because the legal costs will quickly eclipse any returned gains. Anyway, in my case the bank did ultimately return my $300 as they desperately tried to retain my business. Pretty sure this is another way they get away with stuff like this, just refund the squeaky wheels. "Oh, sorry for the mistake."