After reading reports on US Bank, I feel the need to tell the story of not just my daughter's experience with US Bank. No matter what people such as Robert call those who've had problems with this bank, it is irrelevant when the bank sets its customers up to fail. I worked with state government and did a lot of constituent casework, so I was not a stranger to how people can make bad choices and have problemes snowball, but US Bank takes the prize!
What people such as Robert don't understand, and it took me a visit to the branch manager, an upper level manager and numerous phone calls, is the truth about just how the bank does business. My daughter's account was not a checking account, debit only and she always called to find out her balance when she was in doubt before she spent. Imagine her surprise when she bounced one debit amount (when she was already assured she had money and knew what she hadn't spent) and then everything snowballed in a matter of days to over $200.
As any good mother would do, I asked to see her statments and sat down to figure out what she did wrong. Imagine my surprise when it didn't make sense to me... I balance my accounts and know how much money I have in the bank... And thought I needed an education from the bank manager.
Imagine my surprise again when he said you can't just go by the statement, you have to know the behind the scenes info to make sense of this irregular way of doing business.
Do people know that when you use US Bank's debit card at a convenience store, say for gas, they assess an automatic fee over and above the amount you think you are spending, but it doesn't show up anywhere that is visible to the average guy! When you use your card at a restaurant, they automatically add a 15% gratuity on the bill until the bill is processed. The bank plays with these numbers which eventually brings about an overdraft situation... The OD charge then the $7 a day until you do something about the bill.
There's more. My daughter couldn't read the Terms and Agreements portion, due to the fact that she was never given the information. After negotiating with the upper level manager person, they agreed to write off the $200 fees... Just fees, and they kept the over $120 that she deposited to help pay down the charges... But, don't you think they were gracious and simply agreed to not charge her the FEE to close out the account, since she had only had the account for two months!
Fast forward, I shared this experience with another person. Seems her son had the same type of experience with US Bank.
He too was hit with all the overdraft charges and was never told how the bank does its hidden agenda charges.
Fast forward to today when I learned my nephew, who is new to a job and bank accounts and the like. He just turned 18 in June and hasn't had the account at US Bank open but for a short while. Amazingly, his account is already overdrafted with a balance of over $200... Using his debit card.
I see a pattern and the likes of Robert and the other naysayers can say what they want... It doesn't change the facts.US Bank has devised a way to legally extort money from its own clients... I would warn anyone if you have an account there... Just beware and be warned!!!
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