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Old 07-18-11, 02:27 PM   #1
Allen
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I hate banks with all I hold holy

Make a deposit on Saturday and it will not post until Tuesday.
I made a $500.00 deposit on Saturday with a check drawn on the same bank as I use and I received bounced check fees on a check that I wrote today that was deposited today.

They honored the check on Saturday, even gave me cash back on Saturday, but they won't credit my account for three days. There is no justification for that policy except to collect bounced check fees. They knew the check was good or they would not have honored it and given me 1/4 of the cash on Saturday. It's a policy of theft.

Asinine.
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Old 07-18-11, 02:33 PM   #2
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I see a new bank in your future.
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Old 07-18-11, 02:36 PM   #3
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It's the way of all banks. Institutionalized theft. There is no other justification for such a policy.
Oh, and I was told to watch my tone when I asked the bank to explain the reason for the policy.
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Old 07-18-11, 02:56 PM   #4
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Your bank is trapped in the 1980s or something.

I only hate the bank that holds the mortgage to our house. I am counting the days until we get that puppy paid off so I can do away with them.
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Old 07-18-11, 03:21 PM   #5
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It's a fact that banks and lenders now make the bulk of their money from fees. Some are even basing the bounce/overdraft on the date/time of the check. So if you write a check to your LBS on Monday night, and then go to the bank on Tuesday AM and deposit cash, THEN the check arrives electronically to clear at the back on Wednesday, they are still charging a fee.

Our government has given them the clearance to do almost anything they want. Prepare for more. Bend over and relax.
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Old 07-18-11, 04:01 PM   #6
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who uses checks these days?
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Old 07-18-11, 04:07 PM   #7
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Allen:

Have you gone into your local branch and asked to see the officer assigned to your account to discuss this with him or her? If not, I would. I would express my displeasure at this treatment and give them a chance to offer you satisfaction. Then I would consider switching my business to another bank.
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Old 07-18-11, 04:11 PM   #8
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Try a credit union or a small local bank. I get much better service from my local bank than I did with those theiving bastards at Chase, and I can ride my bike through the drive through at my local bank.
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Old 07-18-11, 04:22 PM   #9
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Allen:

Have you gone into your local branch and asked to see the officer assigned to your account to discuss this with him or her? If not, I would. I would express my displeasure at this treatment and give them a chance to offer you satisfaction. Then I would consider switching my business to another bank.
I did. It did not end well.
I was told to watch my tone, and I said that it was cute the way he was trying to divert attention from not honoring my deposit in a timely fashion by feigning concern for my attitude.

My lotto dreams have changed. Now I want a big check just so I can walk in there and ask them how much they are going to kiss my ass to get ahold of it.

The delayed deposit policy is only in effect from Friday to midnight Tuesday too. Make a deposit at any other time and it will clear immediately. It's in place to screw anyone who lives pay check and may need their funds in less than 80 hours.
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Old 07-18-11, 04:24 PM   #10
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Try a credit union or a small local bank. I get much better service from my local bank than I did with those theiving bastards at Chase, and I can ride my bike through the drive through at my local bank.
We have no local banks. The last one folded about 6 months ago.
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Old 07-18-11, 04:29 PM   #11
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Your bank is trapped in the 1980s or something.

I only hate the bank that holds the mortgage to our house. I am counting the days until we get that puppy paid off so I can do away with them.
Lemme guess- it's a bank named after a Country on the North American continent?
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Old 07-18-11, 04:31 PM   #12
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We have a raft of credit unions here (I was a member of one once, but had to reduce the number of accounts we had after we got married), but I don't want to make any switches until I kill off the mortgage and the mandatory checking and savings accounts that came with it.
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Old 07-18-11, 04:34 PM   #13
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We have no local banks. The last one folded about 6 months ago.
Start your own credit union- open to all who despise the big national banks
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Old 07-18-11, 04:36 PM   #14
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Lemme guess- it's a bank named after a Country on the North American continent?
Negative, chief. Bank of the West, who I hate dealing with and is also trapped in the 80s. And don't get me started on the interest rate, but that's because we were first-timers buying a mobile home.
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Old 07-18-11, 04:47 PM   #15
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http://www.federalreserve.gov/pubs/regcc/regcc.htm
According to the Federal Reserve Board I'm in the right here.
From what I gather they cannot hold funds from deposits drawn on their accounts.
Out of state checks they can, on-us checks not so much.
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Old 07-18-11, 04:49 PM   #16
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Start your own credit union- open to all who despise the big national banks
Sounds like a plan.
You have thirty million I may use on an unsecured loan?
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Old 07-18-11, 08:56 PM   #17
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http://www.federalreserve.gov/pubs/regcc/regcc.htm
According to the Federal Reserve Board I'm in the right here.
From what I gather they cannot hold funds from deposits drawn on their accounts.
Out of state checks they can, on-us checks not so much.
So go back in in the morning, armed with the fed's printout and ask them to explain. If they can't, then politely demand a refund of your bounced check policies as well as a letter to each person/business who received a bounced check. If they decline, let them know you will be reporting the incident to the state and federal banking agencies.

Once you talk to those agencies and determine you are in the right without question, file a small claims action against the bank. Likely just the notice will get your money back and the apology letter; it'd cost less to give you back your fee than it would for an employee to spend the day in small claims court (no lawyers allowed).
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Old 07-18-11, 09:56 PM   #18
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Huh. The one time I was told that they were going to hold my check "until it cleared", I reminded them that they never had to clear my checks before. He told me he has to follow policy and that there would be a hold on the check. I said "Okay, that's policy. I understand. Well, I'd like to close all of my accounts right now and if you would please give the amount to me in cash so I can use my money since you won't put the credit of my check to my acct." Pulling up the corner of his mouth in a quiet snicker type of thing, he started to type away at the computer. He stared at the screen for a long time while scrolling. Then he said to me in a nervous politeness, "Ma'am, are you sure you want to do this?" I said "Yup. In cash, please."

He called over the manager, who then asked me why I wanted to close all of my accounts. I explained. He swallowed hard. He apologized. He walked over to the teller.....

He authorized the check to be credited to my account right then and there.

From then on, I've always been treated with the best of service.

Threaten to close the accounts. It works.
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Old 07-18-11, 10:12 PM   #19
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Siu, for some reason that story made me think about 'The Beverly Hillbillies'...
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Old 07-18-11, 10:24 PM   #20
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What Siu said. Threaten to close all of your accounts. They will give in. If they don't, take your money to someone who does treat you well.
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Old 07-18-11, 10:33 PM   #21
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Lady Siu, I like the way you play. I bet the teller thought "Oh @#%^" and started to sweat trying to figure out how to explain the situation to the bank manager.
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Old 07-19-11, 04:54 AM   #22
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+1 on threatening to leave.

I have walked out of several banks in my life with an armload of cash. My favorite time was years ago when I lost my checkbook (found it months later under the seat of the car) and went in to cancel those checks and get new ones. They said the charge to cancel a check was $25, and since I had about twenty checks lost, it was going to be a ton of money. I was stunned. I asked them what the fee was to close and freeze the account, and they said it was free. So, I asked if there was any reason why I should not close it out and walk across the street and open a new account there. The guy said he could not think of why that would not work. So I did. It was a surreal experience. I did not suggest to them that maybe they should waive the fee to keep me. And they did not seem to think of offering it. They just acted like they had transactions like this all the time.

Years ago, before Paypal, I used cashier's checks to pay for things on Ebay. One day the teller told me that they just started a policy of charging for them. I said if they charged me, I would pull my money and leave. So, they reluctantly gave me a pass that time. And every time I went in for one thereafter we had the same conversation with the same threat and same result. They even started saying things like, "Okay, but this is the last time". Whatever. I felt like a cranky two-year old having to throw a tantrum. It became sort of like a Beckett play after a while.

I guess whenever I hear any business say "its our policy to...", my response is always, ALWAYS to politely suggest that its my "policy" to get the most for my money and time, and so since we are at loggerheads, I guess we have to part ways. Most all of the time, they will break their "policy" for me. What is this "policy" stuff? There are no "policies" in a negotiation. Either the two parties can work out an arrangement or they can't.


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Old 07-19-11, 07:37 AM   #23
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It's a fact that banks and lenders now make the bulk of their money from fees. Some are even basing the bounce/overdraft on the date/time of the check. So if you write a check to your LBS on Monday night, and then go to the bank on Tuesday AM and deposit cash, THEN the check arrives electronically to clear at the back on Wednesday, they are still charging a fee.

Our government has given them the clearance to do almost anything they want. Prepare for more. Bend over and relax.
This, my friends, is what they mean when they say "deregulation". It means the right to reach into your pockets. The next time your (right wing) politician cries about the greatness of deregulation, remember it's YOU he plans on screwing.

Banks, on the whole, are scum.
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Old 07-19-11, 08:05 AM   #24
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I use a credit union now, too, and I like it much more than any of the banks I've used.

The problem with threatening to close your accounts, or complaints in general, is that if you don't have a lot of money in your accounts, they won't really care. And, of course, if you had a lot of money in your accounts, you wouldn't have any bounced check fees. Banks are only nice to people that keep a substantial chunk of change at their institution.

My advice: see if you can find a credit union or become rich. Those are the only two decent solutions.
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Old 07-19-11, 08:11 AM   #25
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I did. It did not end well.
I was told to watch my tone, and I said that it was cute the way he was trying to divert attention from not honoring my deposit in a timely fashion by feigning concern for my attitude. .
Watch your tone?! What the hell kind of service is that? (OK, to be fair - did you call him a D-bag or something? Because that would have been classic)
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