Complaint / Review
U. S Bank - U.S. Bancorp
Overdraft Fee Charged Twice on Each Visa Purchase

US Bank's account policies and procedures are fraudulent and bad business. When I moved to TN, my main bank did not have any branches in TN, so I opened a bank account with US Bank. They never stated that I would be charged 25 cents for each purchase with my bank card and PIN. OK, fine. When I found out, I quit using it that way and I could live with it.

But what they do not tell you is that they do this so that you will make purchases using the Visa or Mastercard side of your card. This is where they make their money by taking advantage of your account. Let's say you have $300 in your account and you make Visa purchases (let's say 5) totaling $281. This leaves you with $19 available in your account, because they take the money from your account and set it aside for these purchases. You then go to the ATM and withdraw 20 dollars. This puts your account into overdraft, which you are charged for once. But all that money they put aside to pay for your Visa purchases: when each transaction comes in, they pull the money from your charge side and place it back into your account, then withdraw it again and charge you an overdraft for each transaction again. So that is 2 times they have taken the money from you.

My question to all is, is there no double jeopardy law, or a class action that can be filed against this company for this? Think about it: if you have $100 and put $50 aside for a bill and spend the other $50, that still leaves you with $50 when that bill comes in, correct?