Robbed By A Bank...................?

Question

One of my debit cards stopped working a couple of months ago and I went to the bank today to get it replaced (thinking that the magnetic strip had gone bad).  The teller takes the card and informs me that my account has been overdrawn and closed.  I tell her that this was impossible since I had done absolutely nothing with the account other than deposit $50 into it when I opened it in July 09.  "Absolutely" here meaning that I never used the card, never withdrew/deposited into/out-of the account, nothing.  I opened the account during a "free account" promotion with the idea of just having a backup account.

Anyway, the teller informs me that the bank's policy is that unless I used the card a minimum of 5 times every month, the bank would deduct 11 dollars out of the account for that month.  Of course I was not told that this would happen at the time that I opened the account or I would have told them to kiss my ***.  Unknown to me, the bank quietly ate my $50 and added $172.88 to the tab before they closed the account for overdraft and reported me to a collections agency (this according to the manager).

My question is: what can I do?  By the way, the bank is First National Bank (a.k.a First Convenience Bank), and I suggest it be avoided by anyone looking for a place to keep their money.

Anonymous · Accepted Answer

this sort of robbery is COMMON practice now days. 'automatic overdraft protection' is another commonly abused 'convenience'. banks will often  illegally hold a deposit for weeks in order to overdraft an account and then collect a fee. some banks charge a 'misc fee' fee on top of pre existing fees. there once was a time when banks were safe for the little guy,but no more. I don't trust the bastards  and never will after what I've seen them do in recent years. 

 now then, try to get a local lawyer to take your case...good luck..the banks are their primary source of income....collecting all those delinquent fees.

high risk people are routinely targeted with credit offers..knowing that they will get jammed up and wind up owing thousands more than they borrow. what a racket.

 in my city, the local DA claims to be building a case against the banks. I haven't seen anything happen yet though.

oh yeah,better check your credit cards to see if your interest recently skyrocketed. many people are complaining about this happening recently.

Howard L · Answer

The first thing is to complain and hope that you reach someone who is willing to cancel out the charges.  Other than that your best option is to simply pay them the money as distasteful as that might be.  In a way they did cheat you but it was your fault for not reading the disclosure statements when you opened the account.  They didn't have to tell you anything.  You could sue but you probably won't win because you agreed to the banks terms when you opened the account.

All I can say is that you should learn from this mistake.  In the future read the fine print before you sign a contract and ask questions about anything you don't understand.  In a way $172.88 is a cheap lesson about life.

? · Answer

No banks can be trusted, best bet is to try to find a credit union you can become a member or. at least those wont rip their members off.

? · Answer

particular that's sooo plenty relaxing i do it constantly this is my pastime. in basic terms verify no go away no data in the back of and if u choose somebody to blame then borrow my cat i blame her for each thing (this is her fault we get undesirable climate)

gooby · Answer

Sue the bastards, they know you never used it, they can't be that dumb. talk to someone in charge and explain it.

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Robbed By A Bank...................?

5 Answers