BB&T is unethically double-dipping with their overdraft fees. I had several pending transactions for my account and had enough money to cover every one of them, so my "Available" balance was still in the positive, as, of course, my "Current" balance was.
Unfortunately, I had forgotten a transaction I had made, which was a few dollars more than what I had in the account. This caused my "Available" balance to go into the negative, even though my "Current" balance was still in the positive. I knew I would get fee for that forgotten transaction, and I knew that would be fair.
However, what happened next was completely unfair and unethical! My "Available" balance had been reduced with each of the other pending transactions—in essence, they had taken the money from me, as I could not spend it. This forgotten transaction made the "Available" go into a negative status. Though the "Current" balance was sufficient enough to cover the transactions, I was charged Overdraft Fees each time one of those pending transactions processed.
In speaking with BB&T, they claimed they could charge the fees because the "Available" balance was in the negative. I told them they already had the money for those transactions, as they had deducted them from my account, which is why the "Available" balance was lower than the "Current" balance. They had already taken that money and put a hold on it, so those pending transactions that were finally processed onto the account should not receive Overdraft Fee as, in essence, they were previously paid when BB&T took the money into a hold status. The only fee I should have paid was on the one forgotten transaction that had made the "Available" balance go into the negative.
I ended up paying nearly $250 in Overdraft Fees on pending transactions that had already been "paid" when they reduced my "Available" balance. If the money is already set aside for those transactions, it is unethical to charge an Overdraft Fee on each one JUST because the "Available" balance—not the "Current" balance—is in the negative due to one forgotten transaction.
I do hope that someone will seek justice on this unethical financial policy in which BB&T is participating, as it is an unfair and disgusting practice!
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