Long story short, I had 3 overdrafted items on my account and comerica charged me with 11 overdraft fees. Now I am a former manager from the bank, so i know how the systems work. When I talked to my banking center manager on the phone, she told me about the new system in place designed to generate more overdraft fees.
It works like this. When you use your visa debit card, it posts a "MEMO" on the account until the transaction clears. That could be from 1 - 5 or more days. With the new system in place, they can go forward or backward on that timeline and choose the most convienient time for the company to assess those fees.
In my case, i bought lunch and some other little things on monday and the weekend before. That created the "MEMOS". On friday i had a couple big items come out that overdrafted me. Since all those "MEMOS" hadnt cleared the account yet, they say they can charge me for all the items as overdrafts. If that is not a ripoff i dont know what is.
Shermdog77
highland, Michigan
U.S.A.
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