fees

Overdraft bank fees

How do you get a bank to remove late fees from your checking account. Especially if the merchants took a long time submitting the purchases to your account which in turn made your balance look like there was money available in your account? My bank has charged me $1189.00, in over draft fees. I have spoke with the bank by phone and in person- and they told me no- they would not remove the fees. Yet they keep calling me to pay off the overdraft fees. I don't have that kind of money.

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Answers

Ronaldapeterson Answered:

You should know it is your responsibility to know how much is in your account, no matter how long a transaction takes to post. If you have trouble with this I suggest you use a checking account register so you never spend more than you deposit. Its simple addition and subtraction; if you deposit 500 dollars and you spend 501, no matter how long and in what order the transactions post, you spent money that isn't yours.

Also by opening account you agreed to be assessed overdraft fees, and to pay them. The packet of disclosers you received when you opened your account explained the amount and how fees are assessed. These disclosers are not just for show, but are important to legal documents that you agree to when you sign while opening your account. The bank will probably not reverse your fees. Furthermore if you had 1189 in just fees, you must have been continuously overdrawing your account for weeks. Where did you think you had the money? Again it is YOUR responsibility to know your account balance, not the banks.

Here are a few suggestions:

1. Keep an account register and record ALL of your transactions so that you are never suppressed by a transaction.

2. Visit helpwithmybank.gov, it has all the answers to you questions about fees and other banking topics.

3. If you do get an overdraft fee asked for a courtesy reversal before you have 1189 in fees, remember banks are in business to make money, ask yourself if you had to give up money out of you paycheck would you rather it be 34 dollars or 1189? My point is that it is easier for a branch manager to wave one fee than 5, 10 or 34 or so in your case.

4. go into a branch and ask a banker to call their overdraft recoveries department, they MAY be willing to work out a payment plan. Again do not expect for those fees to be waved.