I added a CD account to my checking and savings accounts last year when a bank rep CALLED me over the phone to ask if I would like to open one. I said yes, and we set up that the monthly amount would be withdrawn from my checking account on the 25th of each month. My CD info states it was opened on 7/25/08 and will come to maturity 7/25/09. So it should be withdrawn on the 25th, right? WRONG.
They withdrew the money on the 20th, and the first time I did not have enough money in savings to cover the draft. Since the rep CALLED me, there is no paper trail of what date I set the withdrawal up for. So that's fine. I had $35 in savings, they debited the $50, and I was left with -$15. Then they charged the $35 overdraft fee. I was -$50 at this point. I called them, and they will do nothing.
So they've taken the $50 and credited it to my CD account, right? WRONG again! They said the decision to credit it to my account is still pending. So now I can't even go close out all my accounts, which I absolutely am going to do, but the decision to put me into overdraft didn't take any time at all. Now, to see if I even get my money, THAT'S pending.
This company is dishonest, and I hope they will go under. Don't trust them. I'm switching banks today. The best part? The penalty for withdrawing hundreds of dollars from my CD account ahead of schedule? $1.66, that's it! Well, they can keep the $35 and the $1.66, but they will never have a cent of my money again.
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