I have banked with Huntington Bank for several years, but my biggest complaint about this bank is their continuing practice of collecting non-sufficient fee (NSF) charges by putting the largest checks or debits through first so that everything else that comes though on that day will be overdrawn.
Example: You have $250 in the checking account. You have the following checks/charges that are set to clear on that day's business: $25, $40, $5, $168, $90 (total of $328 in charges). Rather than putting the checks through first that would be covered by the amount in the checking account, they put the bigger checks through so they can collect more NSF charges.
$250 - $168 - $90 = -$8 (= 1 NSF fee for $37.50)
-$8 - $40 = -$48 (= 1 NSF fee for $37.50)
-$48 - $25 = -$73 (= 1 NSF fee for $37.50)
-$73 - $5 = -$78 (= 1 NSF fee for $37.50)
For a total of 4 NSF fees at $37.50 = $150 in NSF Fees
The actual amount overdrawn was only $78! However, after the bank is done adding on their NSF fees, you're out the $78 plus the $150 NSF fees - a whopping $228!
What the bank should do is to put through the checks that can be cleared with the money that is in the account and apply the NSF charges to those that actually overdraw the account.
Example: Using the same account balance and checks/charges as above, the NSF's should be applied as follows:
$250 - $5 - $25 - $40 - $90 = $90 (still not overdrawn)
$90 - $168 = -$78 (= 1 NSF of $37.50)
This is a more reasonable and fair method of handling overdrafts and NSF charges than Huntington Bank currently uses. It's like the bank is out to screw customers out of their money any way they can! As if the $37.50 per NSF charge isn't injury enough, they have to heap on as many NSF charges as they can!
It's hard enough to make ends meet here in Michigan where the economy hasn't recovered like it has in other states without the banks making it even harder on the little guy with these wrongful NSF practices. If there's a recourse, I'd like to know what it is.
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