I am an account holder at Pnc Bank. They bought out my old Financial Institution over a year ago. I was happy with the service until last week. My wife and I have saved money to buy our first home. We decided to open a new account to deposit the savings into. We opened our new account and moved the money we had saved from our checking account into the new account leaving just enough in the old account to pay bills etc.
I made the mistake of transferring over too much money into the new account. Three items were presented for payment to the low balance checking I have for paying bills. Two of the items could have been paid with the available balance, but Pnc's policy is to pay all large items first, so that meant that all three items were labeled as nsf. I transferred money to cover the items before the branch even opened in the morning and it was available immediately as it was from our house savings account.
I was charged $93 for the 3 nfs unfairly. Two of the items were not even nsf. I went to the branch that following Monday morning to requst that two of the 3 charges be rebated. I was told no and they agreed that by paying the large items first it allows them to charge for all the smaller ones as well. This is an unfair business practice as I had the money to pay two of the items. I have filed a formal complaint with Pnc's regulator, the OCC. I'll be closing all accounts as soon as we can get our direct debits moved to the new account at Bank of America.
I'd like to add that this is the first time in the 7 years I've had the account open that it's ever been overdrawn. It's a heck of a thing when a company charges $93 for and overdraft on only one item. You'd think with as tough as it is economically right now, they wouldn't be trying to ripoff their customers.
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