Kathy from Evansville made the statement that it is time for a class action suit against Fifth Third bank regarding unfair overdraft fees. While I do not agree with her financial handling, I do agree that legal action is necessary. The fact that none of the complaints I read stem from the same branch, signal to me that the problem is at a level higher than the Branch Manager. I would go so far as to say that one manager, the very one I am now complaining about, told me that they have a certain "quota" of overdraft fees to meet. This is how they pay for their "free" checking accounts.
I recently had a balance of $151. Drafts for $15, $15, and $30 were presented. Unfortunately, I was irresponsble and couldn't remember when a direct payment of $222.92 came out and I was 3 days off. So yes, they charged me $120 in overdraft fees, not just $30. Again I was met with "the largest amount is processed first". Why in the world would they do this when there isn't enough money to cover the largest amount, since they apparently have discretion in the matter? As mentioned by Kathy or Debbie from Evansville, it is certainly so they can charge more fees.
As with the others, this caused an overdraft of $334 in my account. Tina Pritchard, of the Indian Springs branch advised that she was told "that is the way they do it" and could not refund any of the fees, although she had done so for me in the past in the same situation. Which, yes, indicates that this had happened in the past.
I will take full responsiblity for my screw ups and rightfully should have been charged an overdraft fee, but just one! Not 4, plus the $6 per day extra they charge you for the pleasure of being overdrawn. Several years ago, I had a similar situation and ended up being charge over $1500 in a two month period. That much of a deficit put me behind on my mortgage... Which is with guess who. (I had to come up with the money somewhere!) In spite of the fact that the payments are caught up, my home is now for sale!
Which brings to mind that I recently called customer service to have my mortgage payment deducted from my checking account. I twice got pressure to make a payment right then by phone, although I had already told them I could not. I tried to explain that I wanted the payment deducted from my 5/3 account later in the month, but the people on the other end of the phone did not seem to understand. I made six phone calls and not one time did I speak to a person whose native language was english. Finally, on the sixth call, I did get a guy that understood the language and after a heated discussion, he was able to process my very simple request.
I have referred many people to Fifth third in the past and now I regret it. Namely my children and my husband. I apologize. For anyone else, please, join your local credit union. Run away, far away from Fifth Third, any bank, really. Get a mayonaise jar or use the envelope method.
And as for David From Florida, who works for a large bank and wants us to continue to overdraw our accounts, you, dude, need to learn to spell or type. And if you need to make more money, get a real man's job.
0 comments