Today I just realized that US Bank charges overdraft fees because supposedly you have an UNAVAILABLE BALANCE; however this UNAVAILABLE BALANCE is where they are holding your money but in reality you have the money to pay for your transactions.
For example: I had $264 dollars in the account and in total the couple of transactions totaled $269 by the end of that day so US BANK places my money on hold which makes me -$5.00 overdrawn; however these transactions have not posted to the account. So right away i get my first $35.00 charge for being supposedly overdrawn by the $5.00. Then within the next few days the transactions start to post but are posting at different available balances since they already marked me as being overdrawn so now every last transaction is overdrawn.in the end of it all, I get an additional (5) Overdraft Charges totaling $187.50, they were $37.50 each for 5 transactions that were over, even though the money was there, they considered them to be UNAVAILABLE because they have your hard earned money on HOLD! THEY ARE DOUBLE DIPPING BIG TIME TO GET MONEY IN THEIR FAVOR!
I called customer service and they couldn't do anything to help. I called the branch that i bank at and all they can do is reimburse me for one $37.50 overdraft charge, thats only if i bring my account to current since they have already taken my $187.50 along with the first $35.00 so even after having the money to spend and also depositing an additional $270 this morning, i am still overdrawn by -$12.60.
As soon as I bring my account current and I want my $37.50 and will be closing the account and will advise for all of my family members and friends to do so as well. I am sure i am not the only one in this situation.
Anyone have an explanation for this? The customer service couldn't explain it to me because even he knew that their system is jacked up. At one point I thought Bank of America was bad, but US BANK is the worse by far!
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