||[Feb. 14th, 2003|11:30 am]
The Question Club
I just got screwed by my bank... AGAIN. I have two automatic debits that go thru my checking account every month, and both of them hit a couple nights ago. I didn't have enough money to cover both of them, so the bank charged me TWO overdraft fees of $21 each.
Here's the pisser of it - my account had enough money to cover one of the charges, which was just $6.95 for web hosting. But no, the bank ran the larger charge ($75) first, which sucked all the money out of my account and then some, causing the smaller charge to trigger an overdraft also.
I'm trying to handle this without losing my temper, but it's pretty hard. I know that overdraft "protection" is a huge money maker for banks, and it infuriates me that they make these big profits from a segment of their customer base that's least able to afford it, namely, people living from paycheck to paycheck like me.
I've heard that there have been lawsuits filed against banks for this kind of activity, but I can't find anything on the net about them. CBS news recently ran a big story about overdraft charges, but it wasn't exactly the same situation. The story involved an older gentleman who was allowed to keep using his debit card for small $5 & $10 charges, not knowing that every time he used the card he was being slammed with a ***$30*** overdraft charge. Freaking bank scumbags.
So my question - how would you guys handle this? I have half a mind to walk into a branch and close my account, but my wife's account is linked and I'd have to close both of them. We might then have problems getting another account, because our credit is really horrible right now due to unemployment and an injury my wife suffered a while back. Any advice would be much appreciated. I tried calling my bank, but ironically enough their computer system was down, so I need to call back. Maybe they were tweaking their algorithms to allow them to suck more blood from their customers at night. I'll update this post when I'm finally able to talk to someone there with access to my account info. Should be a lovely phone conversation.