US Bank
Colorado Creative, ad hoc check holding

A client wrote me a check I just learned was from a closed account. As usual, US Bank held the funds for a few days then released them. No longer pending. Funds available. So, I made a bunch of small purchases knowing my real, available balance. Suddenly, FIVE DAYS later, the check is returned and all my little purchases put me in overdraft so I racked up fee after fee. Of course, this puts me further in overdraft, making me scramble to pay the bills that will automatically come out of that account, and the downward spiral continues.

1.US Bank held the check and then released the funds. Did I mention they were no longer pending? Did they not find out then that it was from a closed account? If not, what was the purpose of "pending" deposits?
2. They released the funds, and the burden of checking the client's bank is not on me. The fact that they put through the deposit from a nonexistent account is their mistake, not my floating a check.
3. It's interesting that the check was returned after I had several purchases pending, almost as if they were waiting for a chance to get as many overdraft fees as possible.

I took a screen shot of the transaction history of my account to prove it says the funds were available. Now I have to not only collect from the client, but from the bank.

Company: US Bank
Country: USA
Phone: 3035858585
Site: usbank.com

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