Southtrust bank is a RIPOFF. Problem started with first deposit when opening the account when they failed to inform me that just because you deposit a payroll check doesn't mean the money's available to you that day, or even the next day. However, the initial deposit I made when OPENING the account mysteriously went in at that very moment, something I now see as a LIE to make customers believe their deposits are available when made during business hours.
Paydays are Thursday (per diem) and Friday (hourly) so deposits are made on both days. After depositing paychecks I found that the funds weren't available to me until the following MONDAY. No one bothered to tell me this when I opened the account.
To date deposits and written checks seem to "miss" each other just enough to incur NSF charges that start a chain reaction. I can't keep a large 'cushion' in the bank so I am now put at risk by this company for excessive NSF fees, bounced checks which include having to pay large fees for the check having been returned unpaid.
When I asked Southtrust's customer service to explain WHY my deposits were always going in late they simply state it's their "policy." Policy means that unless you work nights and can't make deposits by 2pm, or whenever they feel like they want your money to go in, your money wont be available to you until the following business day. However, deposits made on Friday go in Monday, which makes no sense to me whatsoever.
I will be paying Southtrust bank their fees as soon as possible, fees that have now cost me a few hundred dollars because they FAILED to deposit my checks in a timely manner (something that seems consistent with complaints about Southtrust bank). BUT, I will also be closing my account and letting everyone know NEVER to bank with this institution.
Other banks and credit unions seem to have no trouble with the concept of "check deposited, money available." If they have my money, I should have access to it THAT day, not two or three days from the time the deposit is made. And if the deposit has been made and a check comes in after, the customer SHOULD NOT be penalized. Once my paychecks go into the clerk's hands that money is THERE, and charging NSF fees for checks coming in after a deposit is blatant, white collar thievery.
Southtrust bank should be subjected to a complete and thorough government investigation. It's simply not right to allow such unethical and preditory practices to continue against the public.
Do not trust your money in the hands of this bank! You will be sorry!
0 comments