Here is the truth about fees and service from Citizens Bank. First I am an ex employee who was in upper management in the branch. Ok first thing about overdraft fees to put into perspective. Citizens Bank totalls about 650,000.00 in fees in an average quarter, that's right 650,000.00. There is truth that you should not spend more than you have in your account but Citizens has a contract with Mastercard so that all purchases go through because it is all about the fees at Citizens bank. As most banks do Citizens takes the highest purchases first, so you go over and more fees are assessed. Example if you have $100.00 in your account and use your card for an 5 purchases; 4 purchases totalling 30 dollars and the last one for $90. They will take the $90 first then the the four seperate purchases last. The reason for this is the $35 fees for each overdraft. That is a nice $140 profit for the day and your account will now be overdrawn $160 instead of $20. That is a big difference for most of people who live on a paycheck to paycheck basis. The employees are really not to blame for this, it comes down from VP's and up. Employees such as personal bankers make about 12-14 dollars and hour while tellers make a grand 9-12 an hour which is a joke because they are the most underpaid workers at the bank. The bank itself does not really care about the small person but keeps opening accounts for them because of fees. Its all about fees to pay CEO's 20-30 million a yea
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