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regicide
Joined: 01 Sep 2006
Location: United States
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 Posted: Fri Jul 25, 2008 3:26 pm Post subject: charging overdraft fees on pending transactions |
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| Has anyone else got stung by this new twist on fee grabbing? |
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Young FRANKenstein
Joined: 02 Oct 2006
Location: Castle Frankenstein (that's FRONKensteen)
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| Posted: Fri Jul 25, 2008 5:17 pm Post subject: Re: charging overdraft fees on pending transactions |
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| regicide wrote: |
| Has anyone else got stung by this new twist on fee grabbing? |
That's not a twist. That's a scam. It's bad enough they process your withdrawls and ding you for overdraft BEFORE they process your deposits, but this new one? *shakes head*
Which bank? |
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PeteJB
Joined: 06 Jul 2007
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| Posted: Fri Jul 25, 2008 5:46 pm Post subject: |
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| I stopped using one of my bank accounts, and I sent all the money to another bank. I kept some in there for keeping the account open and if I ever needed to use it. Well it turns out I did use it, and without realizing I went overdraft by about 2-3 (pound). They charged me a 30 pound overdraft. The irony is, I didn't realize until some months later (being in Korea I had someone sent my bank statements to me every so often). So because of their 30 pound overdraft, it automatically charged another 30 pound every month. Luckily I caught onto it before it got too out of hand. Still, nasty bloody overdraft.. |
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regicide
Joined: 01 Sep 2006
Location: United States
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| Posted: Fri Jul 25, 2008 8:03 pm Post subject: Re: charging overdraft fees on pending transactions |
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| Young FRANKenstein wrote: |
| regicide wrote: |
| Has anyone else got stung by this new twist on fee grabbing? |
That's not a twist. That's a scam. It's bad enough they process your withdrawls and ding you for overdraft BEFORE they process your deposits, but this new one? *shakes head*
Which bank? |
It is a new one. An absolute shameful new way to take fees. Many transactions never post and there are often duplicate charges, hotel authorizations and even fraudulant charges which would cause this fee.
Bank of America is my bank and many have followed the shameful practice. I guess Wa Mu doesn't:
"a pending transaction is a transaction that was done with your debt card but the vendor has yet to take the money out of your account, so basically the bank puts the money on hold for that vendor/merchant."
The money HAS NOT been withdrawn from your account, it has only been held for the merchants PENDING transaction. |
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