I have had this bank account for at least 4 years. My bank was Local Oklahoma, and was recently purchased by IBC Bank. Since then I have had too many overdraft fees to count. The sad part of it is I do not spend more than I have. I am not someone who just does not balance my checkbook and then blame the bank cause I did not know something had cleared!
Let me give you an example. Let's say I have $50.00 in my account and I go to the gas station and pay at the pump. The gas station preauthorized $7.00 as standard practice (which will release and be replaced by the amount i actually use) then I buy 25$ in gas. Then I spend $20.00 at walmart. Only $45 dollars comes out of my account. The preauthorization for $7.00 gets released and is not taken out. However the bank charges me $25 overdraft because they "put the money aside".
The bad thing is this is just a simple example, generally I will have about $200.00 and about 20 transactions all for under 10$ all of the preauthorization amounts that most companies send, cause the NSF fees but my account is never actually over drawn except for the amount of the NSF fees.
This bank actually allows what they call overdraft protection, in my case up to $700 dollars. What this means is that I can withdraw up to 700$ in purchases before my debit card will get declined, all that CONVIENCE" COSTS IS 25.00 nsf PER TRANSACTION. IBC BANK is in OKlahoma and TEXAS beware.
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