NSF fees

[cashqueen]

Let me start out by saying that I have not bounced a check in years and years. But I have been soo busy lately that I haven't been watching the $$ so much lately (bad, I know). I knew we were cutting it close to payday so I checked my balance last week and saw it was -$47 So I immediately went to the bank and transferred $200 (we were getting paid the next day) into the checking account. Well, yesterday I get 2 NSF notices in the mail saying we bounced a bunch of things and are being charged (hold on to your hat) $480 in fees!!!!!! That is more than we bounced. Yes, it is my fault and I take full responsibilty for not being on top of things but I find that is sooooo ridiculous. Has anyone had any luck getting these reversed. We have never bounced a check at this bank (in 3.5 years) and had the money in savings. Had I known we were that overdrawn I would have transferred more money (I guess the online site was not completely accurate). I NEVER do this and I am just bowled over that 1) I was sooo far off w/my checking acct and 2) that they would charge so much.

[threebeansalad]

I would get on the phone and try to get some of the charges removed. Be pleasant but firm. Arm yourself with facts before you call, (ie: "As you can see, I've been a customer for XX years, and in those XX years, I've never bounced a check. I feel like my customer loyalty is being unappreciated.")

After the situation is resolved, consider seeing if you can set up a savings account with the same bank that can be used to protect you if you should overdraw again. Even if the interest rate isn't great, maybe you can stash a few hundred dollars there, and cover your tail should this ever happen again. This is the approach I've taken. I've never bounced a check, but I feel better knowing that should I miscalculate something, the savings account is there to cover me.

Let us know what happens!

[cashqueen]

We had enough $$ in savings at that bank to cover the bounced items. It just isn't set up to draw from savings. I will certainly ask about that. We've never needed it before.

[Ima saver]

I only ever did that once. I forgot to make the deposit and it was still sitting in the bank bag a week later when I received the notice that 3 checks had bounced (but they paid them anyway) One check was only for $14 but they charged me $30 something dollars. All told, I had to pay about $100 but I was too embarassed to even ask them to reconsider.I usually keep a big surplus of money in there (my property tax money) but I had just paid the property tax the week before. Hopefully I will never do that again.

[LuxLiving]

That's how I set up my kids' accounts w/the banks - linked to a smallish savings account that will be tapped should they happen to overdaw.

[fairy74]

If I were you I'd talk to the bank manager and as soon as this is resolved link your checking and savings so you're protected in the result of an overdraft!

[tinapbeana]

my credit union links my checking to my savings as a 'first tier' overdraft protection and there is no fee. there is also an automatic $500 'courtesey pay' program for each checking account above and beyond the ability to dip into savings, but 'courtesey pay' has a $25 fee....

one could perhaps argue that since you have checking & savings at the same bank you thought any overdraft was already set-up to come out of savings. this is even more plausible if you bank online and see both checking and savings with one login (as this means the two accounts are somehow linked to one another already in your bank's system as well).

[cashqueen]

Update..they reversed half of the charges. We are switching to our credit union that does the automatic transfer from savings if you are overdrawn. It's free at the credit union, the bank wants to charge $9.95/month for that service. An expensive lesson!!

[LittleGopher]

Glad you got some of the charges reduced. Sounds like you're making a smart move to the credit union.

[boefixepa]

UGhhhh!! How horrible. I've always had an overdraft protection plan. I've seen my mom go through this as a child and did wan't to have to stress about it. Glad you were able to get some of the money back and find a solution to prevent the mistake again.

[nanamom]

i just had a similiar problem but only 140.oo worth. The reversed it all but didn't like doing it. I don't care, I'm a long term customer and we're not sure whose mistake it was so they can be as condescending as they want!
I am also transferring my account however.

[Coleroo]

I think they can definately be rediculous!!

I have been with my bank since I was 18 and never bounced a check (Im 24 now) - then all of a sudden my web host provider dinked my account one november a year or so ago. I had forgotten that I had signed up for direct yearly payment withdrawal and when the payment came through I lacked the funds by a whopping.. $1.32 ... And although im religiously check my account balance online, I missed doing it a couple of days because I (unfortunately) didnt know I needed to (since *nothing* should be happening in my account). I got a letter a NSF letter a few days later - I had been hit with a $35 fee immediately AND a $5.00 fee for each DAY it was in the red (this was 3-4 days later!!!).

I called the bank and explained the situation to them, noted how I had never been overdrawn, and had been with them for years. They removed ALL of the fees for me as a "one time curtesy for a good customer".

I also learned from being a tty relay operator that credit card companies provide waivers to good customers too the first time it happens (which came in handy once when I was charged 30 bucks after going over my limit by 52 CENT due to an interest charge!!!).

So, it is definately worth a try as most banks will reverse the charges the first time. Hey, the worst they can is "no, im sorry"... right?

[Daylily]

DH used to work at a bank. At his bank ALL fees were reversible. The bank personnel had the discretion as to whether or not to reverse fees in a situation like you mention. In his case (and probably many other banks) those fees were part of the revenue for the branch and if they collected a certain level of fees for the month/year they would get a bonus.
So unless you were a really great customer and somehow contributing to some of their other bonus metrics (new account, new CD, lots of money in your accounts) then you probably wouldn't get the fee reversed.

I'd go back and ask them to reverse 100% of the fee. If they won't do that, then tell them you'd like to close the account immediately and see if that will get them to change their minds.

[dexter]

I work at a bank. My job duties include the bouncing of checks. lol We dont' normally bounce checks when you have a savings account with money in it to cover your od. I would call them and explain you made an error, never done it before, you had money in savings, can they refund any or all of the fees. Good luck