Webster Bank makes millions of dollars off their customers, and it's not the people who have money to spare, but rather the ones who don't. You may very well be a Webster Bank customer and think they're the greatest bank since sliced bread, but that's probably because you've got extra money kicking around in your paycheck every week.in that case, I don't expect you to understand nor sympathize with me (or the thousands of others they've victimized).
It only takes one overdraft fee to set off a chain-reaction of additional overdrafts and other fees that will guarantee you never get back on your feet. For those of you thinking, "Well if you just kept better track of your finances and didn't spend what you don't have, it wouldn't have happened." To those people I say... You're right... I should have kept better track of my finances, I should have been more careful with my money. Does that mean I should be whacked with a $35 fee for every charge that is drawn against a negative balance account?
Believe me, I've given Webster Bank PLENTY of money over the last 5 years or so, and the only way they will get another dime from me is if they pry it out of my cold, head hands.
I currently owe them somewhere in the vicinity of $870, which consists ENTIRELY of overdraft fees. They were all a result of the snowball effect which I previously mentioned. One overdraft to put me negative, six or so more overdraft fees against small purchases against money that WOULD have been in the account if I didn't get hit with that one fee, which in turn caused my next paycheck to go mainly towards paying fees, which caused my next few bills to overdraft because the money that would have been there was not, etc... I think you get the picture.
In conclusion, the only way for me to continue to have a car to drive to work and a home to live in was to discontinue my direct deposit, and pay all of my bills one at a time without a checking account. It's not exactly a simple process.
I've contacted Webster Bank numerous times attempting to take care of this issue, and each time any request to settle the debt or have the fees reduced has been shot down conclusively by the collection agency they use with the statement "Webster Bank does not settle any debts, and all debts must be paid in full." Any attempts to speak with someone at Webster Bank to dispute the debt and find a reasonable solution are just directed back to the collection agency.
At this point, I would much rather live with bad credit and no bank account than fork over money to those penny-pinching thieves, as I feel I've already given them enough of my money.
Do yourselves a favor, and use a different bank, but be careful who you choose, because the vast majority of them are ripping their customers off in a similar fashion. They're fighting the struggling economy by stealing your money.
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