I am another one of the casualties of the big grab for my hard earned money by Webster Bank. Like the other comments on this site I have had the same problems. Until I read these comments I felt like some kind of criminal with all these excessive charges eating away at our hard earned money.
I recently deposited a $2,400 pay check into our account which should have cleared right away but of course it did not. Unknown to me it was "held" for 3 business days.in the meantime, I paid bills and bought groceries all with a bank balance showing for what I had deposited with the appropriate amounts withdrawn for each transaction. Suddenly, out of nowhere I started getting OD fees - 12 total at $37.00 each against these amounts that had cleared against a positive balance. Apparently the bank "cleared" my debit amounts and checks but penalized me $37.00 each for the "privilege" of allowing me to use my money.
I am sick about this... in good times it's bad enough when this happens (this is by far not the first time that I have been ROBBED) but as an idependent contractor whose income levels have dropped 70% I need every penny I've earned to catch up with my life. My husband suffered a huge decrease in his paycheck recently due to corporate "re-structuring" so this is really hurting us.
I have believed all along that Webster Bank lines up the payments they see coming up in a way that will line their pockets by "bouncing" incoming payments in the "right" way. Until I read one of the comments on this site I thought I was alone in thinking this.
In my opinion this a legalized theft ring and I've had enough. I will be switching banks as soon as I can arrange everything but the question is where does one go to avoid this kind of practice?
My understanding is that Bank of America recently was in hot water for this practice... How long will it take to protect all of us little guys from a "smaller" predator?
0 comments