Recently, I used my debit card attached to my Citizen's checking account to pay part of my UAlbany orientation fee.
The school made a mistake and initiated an $80 charge instead of the $10 partial payment I'd authorised. They reversed the charge the same day, and charged the appropriate $10.
However the $80 was still on hold in my account, creating a negative 'available funds' balance. I had $31 in the account, to cover the $10. When the $10 charge posted, however, it posted against the negative available funds.
Consequently, I was charged a $39 overdraft fee. I called the bank, figuring that since no actual overdraft occurred (the $80 was never actually claimed by UAlbany), they'd reverse the fee.
Instead, I'm told since it's not a bank error, they can't reverse the funds. I was told to contact the merchant (UAlbany) to request a refund of the fee. Even the student financial center representative I met with, in an attempt to get the fee as suggested by the bank in my first phone call, spoke to the bank during a second call. He argued with their supervisor at their customer service phone center on my behalf for close to 20 minutes and got no further than I did.
So Citizen's Bank is making a profit off me. I am a disabled college student, living on SSD and stdent loans. And they are making an unfair profit off me. I willingly pay overdraft fees that are my fault. But this is not my fault, and I'm still out $39.
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