Commerce Bank
Overdraft charges calculated in the computer system Springfiedl

Although I understand what they are saying - it just seem like customers are being hit twice. I think I can first explain it by giving some examples - it has to do with the hold placed on funds in an account when the debit card is used and when the funds are actually paid out. - here is the example from my college student's bank account - (I acknowledge some of the OD charges are his fault)

Payable Bank
Balance Balance
Bank balance 36.00 36.00
VCC Pending transaction (34.00)
leaving available balance of 2.00
cash withdrawal at ATM (20.00) 20.00
running balance of (18.00) 16.00
overdraft charges (35.00)
balance end of day (53.00) 16.00

Next day
starting balance (19.00) 16.00
Paid pending balance (34.00) (34.00)
running balance (53.00) (18.00)
Overdraft charges (35.00) (35.00)
balance end of day (88.00) (53.00)

What does appear reasonable is to take off the pending amount, pay the actual payouts and apply the overdraft charges then place the "pending amounts" back into the account. If on the first day they wanted to hold the pending amounts that is reasonable and then only the ATM withdrawal would subject to OD - but they way they are doing it they can apply the OD on both transactions even though there were funds to cover one of the transactions on they day the funds were spent.

It is like the pending charges are held against practically twice. If they just "took" the money out of the account when it was pending then only one of the transactions would of resulted in OD charges. I am repeating myself and I apologize I am just frustrated. YOu can not see any of this on the online account while I am monitoring my son's account - you never see an overdrafted balance but OD charges are hitting the account.

Am I just totally wrong and should I let it drop?

Company: Commerce Bank
Country: USA
State: Missouri
City: Springfield

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