This bank has established policies that are intended to maximize revenue at the expense of customer. They charge overdraft fees based on transactions that have not yet posted to the ledger. At ledger posting, these transactions are posted prior to offsetting deposit transactions for the same posting period.
The result is an account that never shows a negitive ledger balance is charged over draft fees. To make matters worse, the process withdrawal tranactions are posted from highest to lowest amount to maximize the number of over draft charges assessed.
Using this criteria, overdrafts of small amounts can result in very large fees.inaddition, fees are charged for accessing overdraft protection funds.
This bank received bailout funds totaling to nearly 4 billion tax payer dollars. Call your congressional representative and ask for immediate action to stop this unfair practice.
Fifth Third is not the only bank that uses the practice.
0 comments