Banking Industry
Sound Credit Union, and The Rest Of The, Charged me courtesy pay fees because funds were "on hold" to clear the transactions?

My starting balance on my checking account was @ $279 and some change. I had made some point of sale purchases, as I have been trying to only use my debit card so that it's easier to track my buisness expenses.

Through the week I had made a number of small purchases ($4, $5, $10, $33, ect.) After I made a $100 deposit, I saw that it only brought my account to -$270. I called the call center and they explained that when I made my purchases, they put a hold on that amount of money, so everytime I bought something, that much more was unavailable, but the money was still there.

When Monday came around, and everything went through, I had no "available" funds because they were on hold for the purchases I had made, but the original $279 was still there. That part I understand, but when the purchases went to clear my account, they charged me a $25 courtesy pay fee for every one of those purchases.

If the money was only not available to me because it was on hold to clear my purchases, then why was I charged $225 in fees to clear them. I had to call the bank on three of my breaks at work to try to reason with them that this was not right and didn't make sense.

I got lucky and the manager reversed my fees for me, but said he was making note to not ever do this for me again. And if I wanted to take on anyone about this procedure, I would need to take on " the whole banking industry". I just don't get how this practice is legal. If I make a $10 purchase, and that $10 is put on hold to clear, then it should clear.

Company: Banking Industry
Country: USA
State: Washington
City: Auburn
Address: Auburn Washington

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