I have been a KeyBank checking account customer for 12 years. A few days back I accidently over drew my account by one item. The over draft amount was $97.00 I had no other checks out at the time and all my debits had already been deducted from my account one or two days prior.
Overdraft posted to my account sometime in the night, I was there at 9:08 AM to see what I need to do to get my account back on track. The desk person I talked to looked up my account and confirmed I had over drafted by one item and that there would be one NSF charge that had not posted yet. At that moment I deposited $160.00 cash into my account. More then enough to cover the check and the fee.
The next day my account was back in the black with a positive balance of around $26.00. The next day it was over drawn again with two new fees for around $37.00 each. I went back to Key Bank and talked to the same person. She was also surprized and could not offer an explination so she got her supervisor involved. Per the supervisor, two debits for under $4.00 were rerouted back through my account when it was in overdraft. This allowed them to now charge me for those as well.
I had approx $50.00 in overdraft protection available. She said that the debits did not qualify for overdraft protection because they were under $5.00 each. So hench the two $37.00 additional charges. She refused to reverse the charges for me.
This may be legal but it is not right. This is a rip-off. Acceptance never changes anything. We need to fight to get laws that protect consumers from such "legal" practices.
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