I see I am not the only one being charged enormous overdraft fees.
Last Sunday, My husband and I bought a truck. We wrote a check out for $3,000.00. On Monday morning my available balance was $2,300.00. I deposited an additional $1,900 into my account.
Monday night, the $3,000 hit my account along with 5 other checks totaling $1,115 cleared my account. Because the $1,900.00 was not "clear" in my account, they bounced all 6 checks, clearing the $3,000.00 check first and then charging me $198.00 in overdraft fees.
I clearly had enough "available funds" to cover the other 5 checks that cleared.instead, I was overcharged in finance fees by $165.00.
Because of these fees, there has been a snowball effect with other checks i had written bouncing and being charged overdraft fees. I have deposited more money into this account, but it keeps getting eatin away by fees.
Up until recently, if I deposited a local check on Monday before 4pm and any checks came through Monday night, the checks would clear... No charge.
Now i find out that a local check I deposit by 4pm on Monday will make the funds not available until 12:01 am on Tuesday making me incur ridiculus overdraft charges. Would have been nice to know of that change
I do not think it is fair... So far I have incurred $543 in charges... All because they bounced 6 checks instead of just one.
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