Be aware the Citizens Bank and other major banks around the country intentionally use a practice of posting checks to a customers account with the largest amounts first. The reason for this is; if a customer has insufficiant funds it will cause more checks to bounce so they can charge the customer with larger fees.instead of 1 check not clearing several may not clear and they will charge large fees per check, per day to the account that does not have the funds.
They do not actually bounce the checks, they cover them in your account that way thay can charge these fees daily until sufficent funds are credited to the account. Then the customer places money in the account and all fees are first subtracted in hopes to continue the cycle. It has a snowball effect on the account.
This practice intentionally targets customers that can least afford it. I suggest people stop using these large banks and go with a smaller local bank or credit union, they usually do not use this practice but when your check does not clear you will be charged with a one time penalty. STOP USING LARGER BANKS LIKE CITIZENS BANK they have all sorts of fees to make them rich at your expense. They don't make money on your account, they make it on fines, penalties and fee and the government lets them.
Think about it if 2000 people stopped using a bank and each paid $500 a year in fees that is $1 million dollars the bank has lost. With citizens bank they can only charge a maximum penalty of about $250 a day to a account. Two days and you have been charged $500. A simple $1 check could keep accruing fees and in a few days has cost almost $100. Nice Rip Off isn't it
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