I have been banking with BB&T ever since they took over my original bank, which was First Virginia. I never had issues concerning deposits and overdrafts until I started banking with BB&T.
Over the years I have paid around a couple of thousand in overdraft fees. The first time, I figured it was due to my own irresponsibility. But then it happened again, and again, and again. And in one instance I was slammed with 10 overdrafts in one day. It was around this time that I started to pay closer attention to my banking practices and chalked it up to my own irresponsibility. I was told that deposits get credited to accounts first and then withdrawals. But I'm on direct deposit with my job and have been for years. That's when I realized they were processing my direct deposit after withdrawals, forcing my account into overdraft.
There was one instance where BB&T charged overdrafts to my account because of insufficient funds. In that case I had checked my bank statement prior to using my debit card and saw I had sufficient funds, and went to make a purchase. I came home, checked my statement and saw I was in overdraft. I was extremely perplexed. BB&T has 2 categories when explaining the funds in your account: "Current" and "Available".
"Available" is supposed to be what you have available to make purchases minus any holds that may be in place in your "Current" balance. The representative explained to me that the reason my account went into overdraft was that I didn't have sufficient funds in my "Current" balance, even though my "Available" balance showed that I did because of a recent deposit. So they charged me overdrafts based off my "Current" balance instead of my "Available" balance, which is completely backwards from how it should be.
Fast forward to today, and I have been noticing that money has been disappearing from my account. I would call customer service and they would spin me around in circles doing all of this math I can't see and saying that the balance is correct. And recently I've noticed entries in my online banking that read "Balance adjustment," where it would add or subtract funds from my account with no explanation as to what this "Balance adjustment" is. Lately, I've been noticing that these "Balance adjustments" have been taking more money out of my account without explanation. And when I go back to look at it an hour later, that entry and the amount is gone, but the amount it said I was adjusted is removed from my account without explanation.
I am done with BB&T, as I am convinced they intentionally try to force customer accounts into overdraft because it's a lucrative business for them. I also believe that they are stealing minuscule amounts of money through "Balance adjustments" without offering an explanation as to why they're taking money out of customer accounts. I am contemplating a lawsuit.
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