My bank merged & altered my db card to overdrafts without my written permission-any recourse to fees charged?
Ron D asked:
I use my debit card like money in my pocket – if I need something & can afford it – I buy it. No money in account then i do without. This has worked well for me until my bank merged with another bank. They sent me a letter telling me how great the overdraft coverage was. I did not question the letter as i was happy with my current setup. Due to a math error on my part I thought I had $300.00 more in my account. I have bought several small items over a 15 day period and find that they are charging me $30.00 a pop on each transaction. So a $100.00 worth of groceries and gas, etc is going to cost me $300.00 plus in fees. Is there any recourse prior to me talking to the bank manager? Are banks free to change up your account without telling you what your loosing (I see it a a quick way for the new bank to make a ton of money even it they chopped out half of the fees)? Thanks for any constructive help.
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I use my debit card like money in my pocket – if I need something & can afford it – I buy it. No money in account then i do without. This has worked well for me until my bank merged with another bank. They sent me a letter telling me how great the overdraft coverage was. I did not question the letter as i was happy with my current setup. Due to a math error on my part I thought I had $300.00 more in my account. I have bought several small items over a 15 day period and find that they are charging me $30.00 a pop on each transaction. So a $100.00 worth of groceries and gas, etc is going to cost me $300.00 plus in fees. Is there any recourse prior to me talking to the bank manager? Are banks free to change up your account without telling you what your loosing (I see it a a quick way for the new bank to make a ton of money even it they chopped out half of the fees)? Thanks for any constructive help.
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November 8th, 2009 at 11:57 pm
Although your bank has merge, hopefully you have a relationship with some of the employees. If not do not hesitate to speak with your bank manager, explain your situation and ask them to reverse the fees as a courtesy. I have had this done on more than one occassion. Be kind, considerate and non confrontational. Explain your dilemma humbly and ask for their help. Good luck otherwise if you don’t communicate with a person you certainly will be responsible for paying those fees. Don’t try to avoid them because eventually it will hurt you and your credit in the long run. JL