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Here is the problem.
We have several accounts with Wamu (now Chase) and during lean times - as now = we need to carefully monitor balances to avoid overdraft fees.
We use on line banking, which give current balances. We also pay quite a few bills by direct debit, which can come in randomly. So when our balances were low, we check every night about 11:30 PM, and if necessary make a transfer or deposit to any account that is about to be overdrawn.
This has worked well over the years. Sometimes we take screen shots showing date/time and balances... As evidence that we were not "overdrawn" that day. On several occasions, even though the "available balance" was positive at Midnight, BAM!!! The next day there were one or more charges that has SUPPOSEDLY posted the day before. Almost always, the bank would reverse those when we screamed foul, especially if we had screen shots showing the positive balance.
That was then. With the Chase takeover, they have decided they don't have to play by the rules.
Here is my essential point: We need to be responsible for putting enough money in our account to cover incoming items. Acknowledged and accepted. And the bank has no obligation to give us special on line tools to check balances, make transfers, or for that matter, show available balances at ATM screens. Acknowledged.
HOWEVER!!! If they give us tools to monitor and manage an account, they should be accurate. They should not mislead.
This week, we had unauthorized debits (someone in France was paying bills with my wife's debit card) so until we got the number cancelled, we kept almost no money in that account. I checked the balance June 23 at 11:30 and printed out the ATM receipt showing available funds. Next day, BAM, 2 NSF charges. That night, same thing. I had made a deposit at the ATM at 11:30 PM, printed the receipt showing available balance, and BANGO, next day another NSF charge.
I called the bank to ask for my $99 in charges to be reversed. It became a prolonged escalated ordeal, with the 'acting manager Tara Jones explaining that the ATM printout is only an "estimate" and that she would show me how to use a check register if I wanted to come in.
I am furious. This claim that the items posted the day before is BALONEY... And I can prove it. When the ATM shows available funds, you can grab them, you can with draw them. If your overdraft limit is low or nil, I guarantee you that that so called "posted" item that came in will be kicked back out of the park, it will NOT be paid, so in fact, it was NOT posted to your account.
This is incredibly frustrating and outrageous. I believe that I read that WAMU took in 4 BILLION dollars in non-interest income e.G. Fees and charges, several years ago.
The part that really galls me is the pontifical lecturing tone of these people. WAMU for years explaining how my family need to be more prudent and diligent in maintaining proper balances at all times, to avoid these NSF fees which "I regret we are unable to reverse for you this time." Then they drive the bank into the bankruptcy ditch, sticking creditors with over 3 Billion. So much for prudence.
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