I am a residential designer. I make large deposits due to contract work. I also work for a design firm that pays me a regular salary. They currently use BB&T.
On several occasions they have applied NSF and overdraft fees when the money was available. On one occasion one withdrawal would have gone over the limit (my fault, a balance error). This gave them the opportunity to rip me off. Online you have the list that shows the sequence of events. They reviewed my account. They pulled an overdraft fee first, of $64.00. This in turn caused another item to bounce before it was even posted. By the time they were done it was over $300 in overdraft charges, without one thing being paid. That money was taken first.
They took money from my account that could have paid all but one item. Then they charged me an overdraft fee of $32.00 or even $64.00, which I could have covered. Instead it cost me a grand total of $625.00 by the way they did their deduction. Instead of pulling in the order received, they pulled in the way that got the most from my account. This took advantage of the moment without regard for the customer.
The other two times resulted in a full refund. (If that does not admit guilt.) I made 5 extremely large deposits (in excess of $4,000). I made a few purchases and paid my normal bills. I looked at my bank statement and found that I am currently $1,318.04 overdrawn. All checks were posted. I started doing the math to ensure I had not made an error on my own. I came to find out they took over $700.00 in overdraft fees and NSF fees before even paying one bill or debit/check charge. This was when my account was full. Then they started down the list. As it went, every other day was a new overdraft charge. The total amount (believe it or not) in NSF fees was over the amount of my overlimit number. So if my math is correct, this error was in fact a blatant attempt to rip me off. On a further note, I just changed banks 1 week to the day before all this happened.
I find it gross and despicable behavior to use my account to rob from. On those occasions it was a clear fraudulent way to extort my account. I keep my balances accurate. (I hate to pay money, much less NSF fees, etc.) The IRS and others need to step into corporate America and start doing audits. They will audit small businesses and consumers in a minute, so why not these guys?
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