I recently found out (because I watch my balances and am a responsible adult) that BB&T deducted $70 in overdraft fees from my account.
If I were spending money carelessly or, as some of you say, "living off the float," I could not complain and be taken seriously. However, I was in the positive the entire time.
Here is a basic scenario of how it played out:
I had $551 in my account (posted, available, all that).
I moved $300 of it over to savings.
My balance, pending a charge for gas, was $241.
My car insurance for $56 and a $7 charge at the grocery store should have left $178 in the account. There was a charge for a bookstore purchase which brought it to $137. So imagine my surprise when I went to withdraw money from my account and the balance was $47.
How is this possible? I asked customer service, and each reply is different, but they all agree (not me!) that the charges are accurate as to my posted amount, and that actually my available balance is not $47, it is -$191.
I have yet to see my balance as -$191. I do not see it at all, not even in my online statement. I do see where I transferred money back from savings to checking, because obviously that is where the problem seems to have originated, and I see (I lost my job in March) where my unemployment check is pending posting. I see my account balance in the positive, but no one at the bank a) sees where there is a problem, and b) obviously knows what numbers are.
Oddly enough, for those who think it is mismanagement, this can happen to you too. I need every last penny I can get, so it is not like I am buying diamonds or anything with the small check I get from the state.
FYI, trace these complaints back. They go way back to the $700 billion bailout. I talked to a guy this week whose account is at Bank of America, with a $500 balance on funds posted and available, and they charged him NSF fees for a $50 rent payment on a storage shed.
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