I use AmSouth Bank in Florida. I do know how to keep an accurate register and I do on my computer using Quicken. Some times I mess up and I take full responsibility for those actions.
I have been informed that a policy passed last year in October that now all banks will charge their overdraft/insufficient funds fees based on pending transactions... NOT transactions that clear.
An instance is say where I have purchased a 0.99 song on Real Player, and that company does a $20 authorization to make sure that my account is open before billing. They post it and then my bank is suppose to withdraw it before close of business. This is not suppose to act as a pending transaction according to both parties.
However, on this such occasion I had an up-to-date balance in my account of $23.26. After this $20 authorization, my bank made my balance 3.26. Then my only transaction of 3.99 was pending that day and night. I did not clear that day. Becuase my available balance was lower than the needed 3.99 I incurred a fee of $30. Both parties say it is neithers fault. I have occurences in the past like this one and I feel that these can be avoided.
I did not ever spend that $20 dollars, but ultimately it cost me $30. I feel this is unfair. If anyone has any insight on way or if they can do this please ledt me know so that I can be better informed. It may be fine for them to, but no one at AmSouth will give me a straight answer. I just want a straight answer with some proof to back it up.
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