Comments for The Overdraft Expert http://www.timtheoverdraftexpert.com Get Treated Fairly by Your Bank Tue, 20 Oct 2009 19:29:34 +0000 http://wordpress.org/?v=2.9.2 hourly 1 Comment on USA Today Overdraft Article by Tim http://www.timtheoverdraftexpert.com/usa-today-overdraft-article-251/comment-page-1#comment-38 Tim Tue, 20 Oct 2009 19:29:34 +0000 http://www.timtheoverdraftexpert.com/?p=251#comment-38 Allacen, The best thing to do from here would be to try to get face-to-face with a supervisor at B of A and discuss this with them. If they arbitrarily made the change to take your overdraft protection to zero, you would have a strong argument for getting some or all of your fees refunded. Banks will typically notify customers when lowering overdraft limits, so in the event you received no notification of this they should work with you. Explain that it is unfair to extend a limit and arbitrarily take it away with no notification. Allacen,

The best thing to do from here would be to try to get face-to-face with a supervisor at B of A and discuss this with them. If they arbitrarily made the change to take your overdraft protection to zero, you would have a strong argument for getting some or all of your fees refunded. Banks will typically notify customers when lowering overdraft limits, so in the event you received no notification of this they should work with you. Explain that it is unfair to extend a limit and arbitrarily take it away with no notification.

]]> Comment on USA Today Overdraft Article by Allacen http://www.timtheoverdraftexpert.com/usa-today-overdraft-article-251/comment-page-1#comment-37 Allacen Tue, 13 Oct 2009 15:49:19 +0000 http://www.timtheoverdraftexpert.com/?p=251#comment-37 I was charged over $550 in overdraft fees when B of A blocked my overdraft protection (as at 0) without telling me-for charges that were $5-$25- total of about $150.00 of charges that were not covered- I would be happy to pay the charges WITHOUT the fees since I had no idea my overdraft was "blocked"before the overdraft fees which were charged more than once on an item went to the branch manager who was extremely rude and told me she couldn't do "anything" about the charges until she ok'd it with a district manager then never called me back and now refuses my phone calls- what can I do next? I was charged over $550 in overdraft fees when B of A blocked my overdraft protection (as at 0) without telling me-for charges that were $5-$25- total of about $150.00 of charges that were not covered- I would be happy to pay the charges WITHOUT the fees since I had no idea my overdraft was "blocked"before the overdraft fees which were charged more than once on an item
went to the branch manager who was extremely rude and told me she couldn't do "anything" about the charges until she ok'd it with a district manager then never called me back and now refuses my phone calls- what can I do next?

]]> Comment on Tips for Getting your Overdraft Fees Refunded by OverDraft Fees - Avoid them and save $38 B | DSAFutures http://www.timtheoverdraftexpert.com/tips-for-getting-your-overdraft-fees-refunded-19/comment-page-1#comment-35 OverDraft Fees - Avoid them and save $38 B | DSAFutures Sun, 11 Oct 2009 14:28:31 +0000 http://www.timtheoverdraftexpert.com/?p=19#comment-35 [...] Get Overdraft fees refunded These recommendations come directly from Tim the Overdraft Expert in his article Tips for Getting your Overdraft Fees Refunded [...] [...] Get Overdraft fees refunded These recommendations come directly from Tim the Overdraft Expert in his article Tips for Getting your Overdraft Fees Refunded [...]

]]> Comment on Avoid Paying Overdraft Fees Forever by OverDraft Fees - Avoid them and save $38 B | DSAFutures http://www.timtheoverdraftexpert.com/avoid-paying-overdraft-fees-forever-6/comment-page-1#comment-34 OverDraft Fees - Avoid them and save $38 B | DSAFutures Sun, 11 Oct 2009 14:27:59 +0000 http://www.timtheoverdraftexpert.com/?p=6#comment-34 [...] a cushion in your account, don’t trust your available balance. See “Avoid Paying Overdraft Fees Forever” by Tim the Overdraft [...] [...] a cushion in your account, don’t trust your available balance. See “Avoid Paying Overdraft Fees Forever” by Tim the Overdraft [...]

]]> Comment on Tips for Getting your Overdraft Fees Refunded by admin http://www.timtheoverdraftexpert.com/tips-for-getting-your-overdraft-fees-refunded-19/comment-page-1#comment-33 admin Thu, 01 Oct 2009 02:52:18 +0000 http://www.timtheoverdraftexpert.com/?p=19#comment-33 Michelle, Believe it or not this is the new tactic banks are trying to increase overdraft fee income. This is where I would really push to get that fee back and threaten small claims court. You were never actually overdrawn and therefore they shouldn't be able to charge you a fee. Michelle,
Believe it or not this is the new tactic banks are trying to increase overdraft fee income. This is where I would really push to get that fee back and threaten small claims court. You were never actually overdrawn and therefore they shouldn’t be able to charge you a fee.

]]> Comment on Tips for Getting your Overdraft Fees Refunded by Michelle http://www.timtheoverdraftexpert.com/tips-for-getting-your-overdraft-fees-refunded-19/comment-page-1#comment-32 Michelle Thu, 01 Oct 2009 02:25:58 +0000 http://www.timtheoverdraftexpert.com/?p=19#comment-32 I have a question and I'm not sure how to get it answered without posting on a blog. Does anyone know if the bank can charge you an overdraft fee because you MIGHT have a negative balance in the future? I didn't have enough money to cover charges I made, but had anticipated a refund I was getting to cover it. The refund came through so I never had a negative balance, but the bank STILL charged me a $35.00 overdraft fee and won't refund it. I have a question and I'm not sure how to get it answered without posting on a blog. Does anyone know if the bank can charge you an overdraft fee because you MIGHT have a negative balance in the future? I didn't have enough money to cover charges I made, but had anticipated a refund I was getting to cover it. The refund came through so I never had a negative balance, but the bank STILL charged me a $35.00 overdraft fee and won't refund it.

]]> Comment on Tips for Getting your Overdraft Fees Refunded by admin http://www.timtheoverdraftexpert.com/tips-for-getting-your-overdraft-fees-refunded-19/comment-page-1#comment-28 admin Fri, 21 Aug 2009 15:53:31 +0000 http://www.timtheoverdraftexpert.com/?p=19#comment-28 Lindsey, You are absolutely right. "Pending" transactions are not overdrafts. They are potential overdrafts, but they are not overdrafts. This is yet another way banks have figured out how to manipulate the system to squeeze more money from their customers. I 100% disagree with this practice. I would continue to fight to get all of your overdrafts refunded and if you are willing, threaten to switch banks. Best of luck getting your fees back Lindsey! Lindsey,
You are absolutely right. “Pending” transactions are not overdrafts. They are potential overdrafts, but they are not overdrafts. This is yet another way banks have figured out how to manipulate the system to squeeze more money from their customers. I 100% disagree with this practice. I would continue to fight to get all of your overdrafts refunded and if you are willing, threaten to switch banks. Best of luck getting your fees back Lindsey!

]]> Comment on Tips for Getting your Overdraft Fees Refunded by Lindsey http://www.timtheoverdraftexpert.com/tips-for-getting-your-overdraft-fees-refunded-19/comment-page-1#comment-27 Lindsey Fri, 21 Aug 2009 14:17:52 +0000 http://www.timtheoverdraftexpert.com/?p=19#comment-27 Here's what happened to us. I had to get a few things at the grocery store and at the same time my husband was getting some lunch. After doing some quick math, I figured that we may have overdrawn a very small amount (under $10). I rushed home for some cash, then rushed to the bank to make a deposit. I got to the ATM and found our account was still in the positive! I made the deposit anyway, just to be safe. Later that day I discovered that the bank took out fees because the other items were "pending". I had $8 in the account, I deposited $29, the bank took out $33 for an overdraft charge, then all the "pending" charges came through. I tried to explain to them that my deposit was in before the pending amounts cleared. After everything was said and done, they took $112 from us and we weren't even in the negative when it all began! They gave back $66, but in my opinion, they should give it all back. I made a deposit before the other transaction cleared! Am I wrong? Lindsey Here's what happened to us. I had to get a few things at the grocery store and at the same time my husband was getting some lunch. After doing some quick math, I figured that we may have overdrawn a very small amount (under $10). I rushed home for some cash, then rushed to the bank to make a deposit. I got to the ATM and found our account was still in the positive! I made the deposit anyway, just to be safe. Later that day I discovered that the bank took out fees because the other items were "pending". I had $8 in the account, I deposited $29, the bank took out $33 for an overdraft charge, then all the "pending" charges came through. I tried to explain to them that my deposit was in before the pending amounts cleared. After everything was said and done, they took $112 from us and we weren't even in the negative when it all began! They gave back $66, but in my opinion, they should give it all back. I made a deposit before the other transaction cleared! Am I wrong?

Lindsey

]]> Comment on Tips for Getting your Overdraft Fees Refunded by admin http://www.timtheoverdraftexpert.com/tips-for-getting-your-overdraft-fees-refunded-19/comment-page-1#comment-26 admin Thu, 20 Aug 2009 13:12:47 +0000 http://www.timtheoverdraftexpert.com/?p=19#comment-26 First of all, thank you for the compliments, they are truly appreciated! Secondly, my gut says that since you haven't been contacted at all by the bank that your case is pretty good. Why do I say this? The fact that you haven't been contacted probably means that the bank is too busy to deal with this (no offense) small case and will probably just drop it altogether. That being said, I DO want to say that by no means am I a legal expert or anywhere close to being an expert on this sort of situation. When people get to this stage I recommend checking out the Center for Responsible Lending's website and encourage you to ask questions of them. They will have much more wisdom on this where as I only offer up opinion. While I do consider myself an expert on overdrafts, I am NOT an expert on the litigation side. Please keep us updated on your case and keep checking in so that others might benefit in the future from your experience. I wish you the best of luck! Tim First of all, thank you for the compliments, they are truly appreciated!

Secondly, my gut says that since you haven’t been contacted at all by the bank that your case is pretty good. Why do I say this? The fact that you haven’t been contacted probably means that the bank is too busy to deal with this (no offense) small case and will probably just drop it altogether.

That being said, I DO want to say that by no means am I a legal expert or anywhere close to being an expert on this sort of situation. When people get to this stage I recommend checking out the Center for Responsible Lending’s website and encourage you to ask questions of them. They will have much more wisdom on this where as I only offer up opinion. While I do consider myself an expert on overdrafts, I am NOT an expert on the litigation side.

Please keep us updated on your case and keep checking in so that others might benefit in the future from your experience. I wish you the best of luck!
Tim

]]> Comment on Tips for Getting your Overdraft Fees Refunded by agbagb0 http://www.timtheoverdraftexpert.com/tips-for-getting-your-overdraft-fees-refunded-19/comment-page-1#comment-25 agbagb0 Thu, 20 Aug 2009 05:57:54 +0000 http://www.timtheoverdraftexpert.com/?p=19#comment-25 Tim, I really appreciate your effort and time in hosting this site. Very helpful indeed. I have incurred overdraft for the first time when I used my debit card (as credit) and they posted $350 on 11 transactions amounting a total of $70. I tried many times to get the fee refunded, but they made a remark on my account that "Matter is discussed and denied". So I moved on and filed a small claims court case - stated a technical reason and sent a registered post. The court date is about a week from now. So far, I was not contacted by the bank. What are my chances of winning this case.. Tim, I really appreciate your effort and time in hosting this site. Very helpful indeed.

I have incurred overdraft for the first time when I used my debit card (as credit) and they posted $350 on 11 transactions amounting a total of $70. I tried many times to get the fee refunded, but they made a remark on my account that "Matter is discussed and denied". So I moved on and filed a small claims court case – stated a technical reason and sent a registered post. The court date is about a week from now. So far, I was not contacted by the bank. What are my chances of winning this case..

]]> Comment on Tips for Getting your Overdraft Fees Refunded by admin http://www.timtheoverdraftexpert.com/tips-for-getting-your-overdraft-fees-refunded-19/comment-page-1#comment-24 admin Sat, 15 Aug 2009 16:27:14 +0000 http://www.timtheoverdraftexpert.com/?p=19#comment-24 Glad I could help Erin! Thanks for the comment! Glad I could help Erin! Thanks for the comment!

]]> Comment on Tips for Getting your Overdraft Fees Refunded by Erin http://www.timtheoverdraftexpert.com/tips-for-getting-your-overdraft-fees-refunded-19/comment-page-1#comment-23 Erin Sat, 15 Aug 2009 15:24:05 +0000 http://www.timtheoverdraftexpert.com/?p=19#comment-23 This is a great page!!!! Most sites just say "talk to the manager" or "write the CEO". You give some really logical tips. Thanks for the great advice! This is a great page!!!! Most sites just say "talk to the manager" or "write the CEO". You give some really logical tips. Thanks for the great advice!

]]> Comment on Tips for Getting your Overdraft Fees Refunded by Tim http://www.timtheoverdraftexpert.com/tips-for-getting-your-overdraft-fees-refunded-19/comment-page-1#comment-20 Tim Thu, 06 Aug 2009 16:05:00 +0000 http://www.timtheoverdraftexpert.com/?p=19#comment-20 Bill, That is quite the story you have there. I think that goes above and beyond to even being a horror story! I can't believe your bank would not conduct a proper investigation into what is obviously THEIR screwup! One of the horrible downsides to overdrafts is the fact that you get caught up in a horrible cycle and especially for those on fixed incomes, it can be near impossible to get out. The only way around this is to go to your bank and make them take you out of the overdraft protection program or opt for a bank that doesn't charge overdraft fees, like Probity. I hope you get everything sorted out with your bank Bill and I hope they try to focus a bit more on customer service for you in the future. Bill,
That is quite the story you have there. I think that goes above and beyond to even being a horror story! I can’t believe your bank would not conduct a proper investigation into what is obviously THEIR screwup!

One of the horrible downsides to overdrafts is the fact that you get caught up in a horrible cycle and especially for those on fixed incomes, it can be near impossible to get out. The only way around this is to go to your bank and make them take you out of the overdraft protection program or opt for a bank that doesn’t charge overdraft fees, like Probity.

I hope you get everything sorted out with your bank Bill and I hope they try to focus a bit more on customer service for you in the future.

]]> Comment on Tips for Getting your Overdraft Fees Refunded by Bill http://www.timtheoverdraftexpert.com/tips-for-getting-your-overdraft-fees-refunded-19/comment-page-1#comment-19 Bill Wed, 05 Aug 2009 15:56:49 +0000 http://www.timtheoverdraftexpert.com/?p=19#comment-19 Next month I got a bill for over $200 in fees and interest. I went immediately to the branch, they called the credit department and I asked why, they said the billing cycle had started the day before I paid it off and I owed the money. Desperate to get it closed, I asked what the pay off amount was and they said they couldn't tell me because the billing cycle had started again. I overpaid what I estimated it to be. I then contacted the Federal Reserve about the whole situation, my congressman, even the President. I finally get a call from an exec assistant in the credit department. She hears my story and refunds my last payment, marks the account paid in full and agrees to wipe the card of my credit reports as if it never existed. Ever heard that one before??? Anyway, I've just been trying to break this cycle so I can quite simply close the account but with the timing on my mortgage and child support payment, they are quite literally pushing me over the edge. Next month I got a bill for over $200 in fees and interest. I went immediately to the branch, they called the credit department and I asked why, they said the billing cycle had started the day before I paid it off and I owed the money. Desperate to get it closed, I asked what the pay off amount was and they said they couldn't tell me because the billing cycle had started again. I overpaid what I estimated it to be. I then contacted the Federal Reserve about the whole situation, my congressman, even the President. I finally get a call from an exec assistant in the credit department. She hears my story and refunds my last payment, marks the account paid in full and agrees to wipe the card of my credit reports as if it never existed. Ever heard that one before???

Anyway, I've just been trying to break this cycle so I can quite simply close the account but with the timing on my mortgage and child support payment, they are quite literally pushing me over the edge.

]]> Comment on Tips for Getting your Overdraft Fees Refunded by Bill http://www.timtheoverdraftexpert.com/tips-for-getting-your-overdraft-fees-refunded-19/comment-page-1#comment-18 Bill Wed, 05 Aug 2009 15:56:35 +0000 http://www.timtheoverdraftexpert.com/?p=19#comment-18 Here's a real kicker. I had a lucky turn and had a client who agreed to pay me $5k up front. I immediately paid off both my Washington Mutual credit card and a furniture loan in full. I went to my branch to pay the credit card and asked for the pay off total, and I was told what it was and paid it. Here's a real kicker. I had a lucky turn and had a client who agreed to pay me $5k up front. I immediately paid off both my Washington Mutual credit card and a furniture loan in full. I went to my branch to pay the credit card and asked for the pay off total, and I was told what it was and paid it.

]]> Comment on Tips for Getting your Overdraft Fees Refunded by Bill http://www.timtheoverdraftexpert.com/tips-for-getting-your-overdraft-fees-refunded-19/comment-page-1#comment-17 Bill Wed, 05 Aug 2009 15:56:13 +0000 http://www.timtheoverdraftexpert.com/?p=19#comment-17 Despite following every guideline, and despite the fact that the man was on video tape at both branches, the fraud department denied my claim and sent me a letter telling me I authorized the transaction. (Essentially calling me a liar in writing!). I reopened the case, telling them the detective on the case in California had gotten the video tapes and thought he was going to catch the guy. Finally after almost a month and 60+ hours on the phone they gave me the money back. The problem was by that time all of my credit card payments were late, which resulted in even Washington Mutual jacking my interest rate 400%, my utility bills were all late and off their billing cycles and so for over 2 years now I've struggled to rob peter to pay paul and have encountered countless overdraft fees. Additionally, they comingled my personal and corporate accounts with the red flag 3 months after the problem causing the same thing with my corporation. Needless to say the increase in interest rates for a growing business could very well cost me 10s or even 100s of thousands over the next 10 years. Despite following every guideline, and despite the fact that the man was on video tape at both branches, the fraud department denied my claim and sent me a letter telling me I authorized the transaction. (Essentially calling me a liar in writing!). I reopened the case, telling them the detective on the case in California had gotten the video tapes and thought he was going to catch the guy. Finally after almost a month and 60+ hours on the phone they gave me the money back.

The problem was by that time all of my credit card payments were late, which resulted in even Washington Mutual jacking my interest rate 400%, my utility bills were all late and off their billing cycles and so for over 2 years now I've struggled to rob peter to pay paul and have encountered countless overdraft fees. Additionally, they comingled my personal and corporate accounts with the red flag 3 months after the problem causing the same thing with my corporation.

Needless to say the increase in interest rates for a growing business could very well cost me 10s or even 100s of thousands over the next 10 years.

]]> Comment on Tips for Getting your Overdraft Fees Refunded by Bill http://www.timtheoverdraftexpert.com/tips-for-getting-your-overdraft-fees-refunded-19/comment-page-1#comment-16 Bill Wed, 05 Aug 2009 15:55:45 +0000 http://www.timtheoverdraftexpert.com/?p=19#comment-16 Hi Tim, I've got the mother of all stories for you and it has hurt me financially to the tune of thousands. In December of 2007, Washington Mutual who had both my personal and corporate accounts, my mortgage and a credit card, allowed a man 1300 miles from my residence in Texas to take the entire contents of my bank account without a matching signature, check or debit card after he attempted it at another branch whose manager called me and red flagged my accounts. I caught the transaction 15 minutes after it occured, called the bank immediately, filed police reports in California where it happened and locally, did the 3 bureau credit alert and the full fraud report with the banks fraud department. Now this man was a different race than me, 10 years older and had my account number scrawled on a piece of paper. Hi Tim,
I've got the mother of all stories for you and it has hurt me financially to the tune of thousands.
In December of 2007, Washington Mutual who had both my personal and corporate accounts, my mortgage and a credit card, allowed a man 1300 miles from my residence in Texas to take the entire contents of my bank account without a matching signature, check or debit card after he attempted it at another branch whose manager called me and red flagged my accounts. I caught the transaction 15 minutes after it occured, called the bank immediately, filed police reports in California where it happened and locally, did the 3 bureau credit alert and the full fraud report with the banks fraud department. Now this man was a different race than me, 10 years older and had my account number scrawled on a piece of paper.

]]> Comment on Tips for Getting your Overdraft Fees Refunded by Tim http://www.timtheoverdraftexpert.com/tips-for-getting-your-overdraft-fees-refunded-19/comment-page-1#comment-15 Tim Wed, 05 Aug 2009 00:09:31 +0000 http://www.timtheoverdraftexpert.com/?p=19#comment-15 Jose, It is sad that most banks don't recognize the younger generations for what they are; the new generation of customers. You absolutely deserve the same service and attention as everyone else. I need to be upfront about the small claims court situation. I am not a lawyer and I am not here to give legal advice or council. I have listed small claims court as an option that has worked for others in the past. I would encourage you to ask questions of those who have been through this process in the past and ask what all was involved. A great place to start would be the Center for Responsible Lending. You can find their website here http://www.responsiblelending.org/ I would encourage you to ask questions and fight to get your fees back. Don't get discouraged! I would also encourage you to come back to our site and give us updates on your progress so that others can benefit from your experience! Good luck Jose! Tim Jose,
It is sad that most banks don’t recognize the younger generations for what they are; the new generation of customers. You absolutely deserve the same service and attention as everyone else.

I need to be upfront about the small claims court situation. I am not a lawyer and I am not here to give legal advice or council. I have listed small claims court as an option that has worked for others in the past. I would encourage you to ask questions of those who have been through this process in the past and ask what all was involved. A great place to start would be the Center for Responsible Lending. You can find their website here http://www.responsiblelending.org/

I would encourage you to ask questions and fight to get your fees back. Don’t get discouraged! I would also encourage you to come back to our site and give us updates on your progress so that others can benefit from your experience! Good luck Jose!
Tim

]]> Comment on Tips for Getting your Overdraft Fees Refunded by Jose http://www.timtheoverdraftexpert.com/tips-for-getting-your-overdraft-fees-refunded-19/comment-page-1#comment-14 Jose Mon, 03 Aug 2009 16:45:04 +0000 http://www.timtheoverdraftexpert.com/?p=19#comment-14 Hello I have a problem with the bank, and being a teenager they tend to brush me off. I went to Canada to visit my parents and the bank charged me .04 cents in some cases for international fees PLUS the $35 overdraft fees. While I did know I did have a few over draft charges it was not more than 10 dollers in my account, they charged me 35 dollers 7 times over the period of 24 hours. The way i discovered this problem was when i came back to deposit my rent money i was out $292. I am pretty much just asking if the small claims court is for me? and any advice would be fantastic. This is so far what i expected to happen when I go home to visit my parents. Hello
I have a problem with the bank, and being a teenager they tend to brush me off. I went to Canada to visit my parents and the bank charged me .04 cents in some cases for international fees PLUS the $35 overdraft fees. While I did know I did have a few over draft charges it was not more than 10 dollers in my account, they charged me 35 dollers 7 times over the period of 24 hours. The way i discovered this problem was when i came back to deposit my rent money i was out $292.

I am pretty much just asking if the small claims court is for me? and any advice would be fantastic. This is so far what i expected to happen when I go home to visit my parents.

]]> Comment on Great Southpark Video by bill giltner http://www.timtheoverdraftexpert.com/bank-checking-fees-219/comment-page-1#comment-3 bill giltner Sun, 28 Jun 2009 02:50:44 +0000 http://www.timtheoverdraftexpert.com/?p=219#comment-3 This is funny, and a little jarring! This is funny, and a little jarring!

]]>