National City Bank
Unethical overdraft fee practices

Business & Finance

Yesterday I noticed that I had inadvertently gone over my bank account balance, or should I say I was about to. I had two pending transactions totaling just over $40.00 although I only had just under $40 in my account.

I then mistakenly went to the ATM and made a deposit with hopes to cover this error. I was prepared for this not to work and that I might incur an overdraft charge, but what happened was anything but that.

Today I checked my online balance and to my surprise there were two (NSF) bounce fees. WTF? I looked closer and noticed that the balance at the beginning of the day was $39.96.

The next transaction was a $34 NSF fee making my balance 5.96. The next transaction was a $34 NSF fee making my balance -28.04. The next transaction was my $25.00 purchase making my balance -53.04.
And finally my last transaction for the day was $15.89 leaving me with -68.93.

Does anyone see a problem here. With a balance of $39.96 at least one of the other transactions should have gone through, but not both.

I just got back from speaking with the local bank manager and to his/National City's credit he waved one of the fees.

Now this all seems fine and dandy, but the RIP-OFF here is in his explanation. He stated to me that the way the "system" processes transactions at the end of the day is to add up the debits and compare it to the available balance. If it will send the account into the negative then each transaction would cause an NSF charge. As shocked as I was I asked "So If I have 15 $1 transactions for one day and only $14 in my account, then I would incur 15 NSF charges?"

But wait... It gets better...

He said "Well, that just depends on how long you've been a customer, your account history, etc..."

Again, everything worked out fairly in this situation, but if this is the actual practice. How many other people are getting the shaft and don't bother to investigate.


Company: National City Bank
Country: USA
State: Indiana
City: Indianapolis
Site: nationalcity.com
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