I have a Key Bank account for at least two years that I use for my small spending allowance account.
I went on vacation and had used it on purchase that I thought would still have sufficient balance for it. Needless to say I was mistaken and had overdrafted for a small balance. I was charged an NSF balance for that... And another NSF charge over the NSF the next day. And so on... I went to the ATM and deposited money on Saturday that very week...
Lo and behold, on Monday I still have an NSF charge for the Friday's balance since the money I deposited on Saturday cleared after the NSF charge was applied... This means I was charged an NSF on a good balance.
I was surprised of the trickling effect. More so of the bad customer service I received upon reporting this to the branch I opened the account. Unbelievable rip off that the office obviously knew of how this bank operates...
I felt like for the two cups of coffee I had purchased, I paid for $40 each cup of NSF charges... And all this happened in a span of less than a week. Maybe 4 days before I realized I had overdrafted and did actually deposited more money on the Saturday of that week... Even with the short span of time and my first instance of overdrafting... The bank personnel did not even care... It seems like they are there to get you at first offense...
I do not believe it should be this high of a charge. It should be prorated to the amount... Not charge me for $40 for a $2.60 overdraft... What happen to usury?
Bank charges should be regulated. This is a total rip off!
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