I recently went out on a Saturday. My first stop was at a drive up window where I deposited a large amount. Let's say $1500 for reference. My account balance before I did so was almost $400. I wasn't broke. Next I went to several stores, my last stop being a big name nationwide retail store. In the four stops, I used my ATM card. At Big Name, my card was rejected! What?? However, I've found times when any of my cards will work this time but not next. It happens. I wasn't really worried, so I wrote a check which was electronically deposited (meaning it was debited to my account then and there, and it cleared).
Today I was having trouble with the bill pay feature online. That's another story (I've had this kind of problem in the past with this bank), but I had to call the bank to find out what was wrong, and in the course of the conversation, I mentioned that situation. The woman who was helping me commented that it was rejected because of insufficient funds. WTF?????
Later I looked, and I learned that the uses of my card on that day totaled .... are you ready for this? .... $2 more than the balance BEFORE my deposit of $1500!!! Yet the electronic check, from the same account, was accepted. OK, this is bad enough, but my real rant is this ....
HOW CAN BANKS ELECTRONICALLY RECOGNIZE MONEY YOU'RE TAKING OUT VIA ATM OR ELECTRONIC CHECK AND DENY IT, BUT THEY
Ridiculous crap.
Yes, I'm angry, really, really angry. They use our deposits in this was and many other ways! Infuriating!
Besides that, they can't figure out why my bill pay is not working. It's going to IT and they will call when they figure it out. I'm thinking I need to change banks.
sounds like ours and every other bank.... they have to be sure any deposit is gonna clear; i.e. checks, but in your case with the cash IDK... it will no doubt be blamed on a computer!
ReplyDeletewe are always supposed to tell our bank before we go on a trip more than 100 miles away on which we might be spending money or using our debit cards. I expressed that we felt that was an invasion of our privacy. the bank officer I was talking to felt the same way, but the owners (this is a local bank where we live) still wanted the policy. oops, we forgot to tell them about this year trip...
MM, I *sorta* understand the notification, because most stolen cards/ID are abused away from your home, and it cuts down on the fraud, BUT ....
ReplyDeleteWhy is it that everything is geared to the advantage of Big Business, Big Banking, whatever. THEY got the bailouts, not us; THEY get to keep our money till they decide we can use it: THEY .... oh wait, I'm ranting again. Excuse me! LOL!
Was it on a weekend or on Monday which was a bank Holiday?
ReplyDeleteWhat would have been even worse is if they had charged you a fee for insufficient funds!
I pay $10 a year for a credit card line that I NEVER use, just so if my math is off somehow and something would bounce, they put money into my checking account in $100 increments (for a $2.00 fee from that charge account.) Somehow they can't shift money from a savings account with thousands in it!
Banks are frustrating!
Yes it sounds like you need to change banks. I've had the same one for years and they are wonderful. I've never had a problem with any of their practices. As a matter of fact they helped me out a time or two when I've messed up! That's the kind of bank taht you need! Love Di ♥
ReplyDeleteMerikay, it was a Saturday, but that shouldn't matter. The point is, they recognized the withdrawals, but NOT the deposit! I chose not to put any overdraft protection, because it is costly, and I am very careful. This bank just announced they will be adding the option to go to the savings account in an overdraft, and I will sign up for that. Next month; after this doesn't matter!
ReplyDeleteDi, that was actually a rhetorical statement. I probably won't change, because of the local banks, it is the best, the one I hear less complaining about. I have another account with a nationwide bank, but there is not a local branch, so if I have to do anything other than online or by mail, I have to drive at least an hour.
None of the "local" banks are really local; they are simply local branches of other banks from elsewhere. Nice people, but if there is a problem, you might as well be talking to someone in Cincinnati or LA or Dallas. It's just not "hometown service.
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I remember when banks did everything by hand, no electronics. Deposits were added every day and they were tallied BEFORE the checks were subtracted. No more. That's my main grievance; it is all done for the bank's advantage, not that of the customer.
All I can say is that I can't believe we can't name names in our own blogs for fear the Big Brother corporate trackers will notice.
ReplyDeleteNo shitaki mushrooms, Mary!!
ReplyDeleteI must say I hate banks- my most recent reason to hate: I took out a bar loan to cover expenses for the bar exam. I applied on line- got a riduculous rate- but that is not my beef. Once approved, my money was "disbursed" on 1/6/11. On about 1/10/11 I got a letter notifying me that interest was already acrruing, about 3 or 4 dollars at that time. My disbursement didn't arrive until Saturday 1/15/11. So for 9 days ( more like 11, really I couldn't deposit until today) the bank is earning interest on MY money and charging me interest at the same time. I wish I could say this is rare, but my lovely and beloved alma mater- who got into the loan business when uncle sam eliminated the banks as middleman last year does the same thing. They receive student loan money prior to the beginning of the semester, and then hold it for almost THREE WEEKS until they "verify enrollment". Guess what- the students are paying interest from the time uncle sam releases it, but guess who is making money on it in the mean time? That's right- good old State U! Such a racket. I hate banks.
ReplyDeleteAnd, as I said, YG, the "rules" protect everyone but the people the money belongs to .... us!!!
ReplyDeleteIronically, as I respond here during my lunch hour at work, my first order of business this afternoon is dealing with a bank problem. Our corporate bank keeps losing our deposits.
ReplyDeleteWe haven't had any trouble with our own personal bank but we don't have a debit card nor do we use on-line stuff like bill pay.
It makes you wonder if they could make some kind of alternative to banks though. Maybe an old-fashioned bank like the kind we used to have when we were younger.
I am so sick of banks that I no longer leave my money in there. I have it for electronic deposits but as soon as the deposit is there, I take it all out. I just hate all the extra charges and mix ups and it's much more successful for me to manage it myself and pay cash. Don't get me started!
ReplyDeleteI had a similar situation. I cashed a check I received @ C-Mass. Not knowing the Bank put a hold on my account till it cleared. Then I accidentally overdrew it & was charged $70.00. Luckily I got the charges dropped, and my $70. back.
ReplyDeleteBob, gone are the days of the friendly neighborhood banker, for the most part. We all nave to be really alert and prepared to do battle in our own defense! Just sad.
ReplyDelete