I cannot believe the laws allows banks to charge such expensive overdraft fees!!! BOK charges $28.95 per item returned. I have always had issues with this bank because they send through the largest items first in order to obtain more fees for smaller items that do not clear. It is not unusual to have a $500 transaction several days after 10 smaller transactions - you do the math!
My most recent episode began when a dept collector froze my account. The bank did not contact me, so I unknowingly continued to write checks! Once I found out what was going on, I called HR and stopped my direct deposit. My next step was to call the bank. BOK told me it was a garnishment for a dept and since the total amount to be drafted was not available, the freeze would immediately be lifted. OK, that would have been a good time to tell me the over-draft protection was no longer in effect since I no longer had direct deposit! Hence more over-drafts!
In the midst of the "snowball effect", merchants were sending checks back to my bank twice, so I not only recieved 2 of the bank's $28.95 charges per check, now I have to pick up all of the checks from the merchants and pay their fees! For the past 2 weeks I have deposited money in the bank and the entire check only covers the bank fees! It will easily cost me over $1K in fees and checks to get this mess straightened out!
Then next situation is that I go to the store to write a check and it is declined because the bank notified a national business to alert all merchants not to accept checks from my account as they may be returned! I can see if I did not pick up the checks and I was reported to a checking system; but this was not the case! BOK reported me to the company themselves!
If you call for help, they are a huge help by telling you how you should keep an eye on your account to see if you have enough money before writing checks! That must be the same genious that came up with the idea of "We feel larger transactions for car payments and mortgage payments are more important to our customers than smaller transactions, so we send them through first".
Well, let me be the first to apologize! I had not idea you were charging me $3-$5K/yr in fees with MY best interest in mind!!!
I can't wait to close my account once this final mess is straightened out! No, they won't miss my $80K/yr paychecks deposited, but maybe they will miss my check fees and everyone else that reads this post!
I would NEVER recommend this bank to anyone!
Sincerely,
VERY FED-UP CUSTOMER
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