My old bank was recently purchased by RBC Centura Bank. And to their credit, they sent all account holders quite a large booklet containing what I thnk was information about their bank and their procedures. And also to be fair to them, I was extremely busy during this time and did not read the entire booklet.
The first eye-opener was when I accidently overdrew my account. The fee for this transgression was twice what my old bank charged. The amount was $70, but then there was a fee called "Overdraft/Re-entry fee" in the amount of $12. Quite a lot of money for making a mistake. This made my $16 worth of groceries bought with my debit card cost almost what we can afford to spend for a week's worth of groceries.
And as for deposits, they withhold availability to cash deposits until the next day. So the $600 cash deposit I made on Saturday morning not available to me until Tuesday morning. But, I was told that if I explained to the teller on Monday that I was a long standing customer, that I could cash a check on that deposit. If by chance I was out of town wanting to cash a check at one of their banks that the teller there would call the local branch to check me out. Yeah right! I have never heard of a bank holding cash deposited into an account. Also if my corporation accepts a check for services written on a check from their bank and deposited into my corp. Account, I would again be required to wait until the next day to have availability to those funds.
Needless to say, I am bank shopping at this point.
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