Maybe I sound like I am just inept due to my recent post about Key Bank but I have a new issue. This time the issue is my own fault but the result doesn't seem legal to me.
I have an automatic withdrawal that normally comes out on the 29th. This month it showed as pending on the 26th and I wasn't prepared for it. So I made a deposit immediately to cover it. Since KeyBank works on time stamps, the pending was being processed before the deposit, therefore it caused an NSF fee. The fee was posted to my account on the 27th causing me to have a -$5 balance.
On the morning of the 28th, the pending
transaction "cleared" but since I had a negative balance there wasn't enough money in the account and I received another NSF fee. When I talked to Key and questioned how they could charge me a bounce fee for a cleared item that had already bounced when it was in the pending status they said it was perfectly legal and in the policy.
My fault for not having enough money in there to cover the transaction but what I don't understand how it is legal to bounce the same item twice. It didn't go thru the bank twice. They received the transaction on the 26th, charged a fee to it, kept the transaction in pending status then cleared it on the 28th and charged another fee to it.
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