HOPKINSVILLE, KENTUCKY -- The plus fee is back and apparently BB&T sent me information on this but I don't look at my paper statements. I do all my banking online and just keep my paper statements in a file cabinet. They told me I could cancel it but I never requested it or signed anything approving it.
This bank also seems to figure out ways to make pending debits priority over credits to increase late fees. I would not have this issue if I always had plenty of money in my accounts but I don't feel this practice is customer-friendly. I have recently moved to a new bank and never been happier. Way too many choices out there to deal with shady companies like BB&T. Don't even get me started with some of their bank tellers who seem to be just as unhappy with the company.
ROBINSON CREEK, KENTUCKY -- I have used this bank for 4 years and just became aware of the downfalls of a debit card for especially lower income people. They say you can use it as a credit card, but when you make a minor error, it can cost you hundreds of dollars that you cannot afford. I actually got to the point I wrote no checks but used the debit card which is unfortunate for me. I forgot to write in a purchase and this caused my acct. to overdraft which is normal, but I did not receive a notice till one day before late fees started and till my acct. was over-drafted and with the fees of a total of $344.
I called the bank and talked to ** one teller and a friend told me to call back that he would help me try to get some of the fees took care which they do for certain clients. I talked to another teller named ** who told me more about how the debit card system works or in her words anyway. I called the bank back and that is when ** got back on the phone and gave me a different version in her words and I told her we needed to talk to first teller because they had me confused.
** got on the phone and was explaining what she said to me when ** interrupted and started putting her words into **'s explanation. What ** said and what ** said were two different things even though I found out they meant for them to mean the same. The teller ** got hateful and said I did not understand, which I do understand more than most with my BA degree in accounting and office admin. So I did something I should not have and told her she acted like an asshole treating me the way she did.
So to be honest what this bank and other banks need are one way of explaining their services without it sounding totally different, to stop forgiving fees for those people who have more money then others or more power and treat everyone the same and last and most important the whole banking system needs to have a better way of letting people know that something is wrong with their acct.
The online banking 1-800 number and 5 day call they make when your acct. is in the red is not enough for the lower income bracket which makes up most of their customers. The reason I say this is because I use the 1-800 number and have to pay $2 a call after I think it's 2 calls talking to a live representatives and I use the online banking also.
As for the special call to let you know your acct. is overdrawn, would be a good thing if it happened a day or two after the incident, not 5 or more when someone like me ends up with $204 to live on for the month with a teenage daughter. I really feel that the call serves no purpose at all when they call when the $6 a day fee starts for the overdraft.
Am I a special incident? Unfortunately not. I talked to a friend today and told her what the bank had told me about the debit card and she said she was going to stop using hers as much because of what happened and how it was explained to me. So everybody be aware - yes you can use a debit card as a credit card. But as for a limit, from what one teller told me, there is no limit and the other teller told me there was a limit when you reached the margin of error. What this margin of error is neither teller knew.
So be very aware that unfortunately sometimes a person can make a mistake and the business you deal with can not give you a clear answer. Or do more research then I did and be very picky about your banking service and make sure that all the employees give the same and a better explanation on how their systems work.
We have a current issue with BB&T that we'd like to share and it's pretty clear and simple that this is a case of a bank using illegal practices, resulting in fraud against the consumer. Situation: We were going on vacation 3 days before Labor Day.
We made a transfer from our main account to our personal account on that day before we left to cover incidental charges. The main account has no debit card, the personal account does, which is what we used to spend for vacations. We initiate the charge before we even leave the house, so naturally this is before any specific charges are posted against this account. Each day during the vacation, we check the account to ensure we haven't forgotten to enter any charges into our check register, albeit we kept receipts and the like, just to triple check ourselves (we're careful to a fault like that.)
Upon our return home 5 days later, on a bank processing day, we realize we're in the hole to the tune of about $200 dollars. NO WAY we spent ourselves into a hole. We quickly check the account and immediately realize our pending transfer from before we left has DISAPPEARED. We make another transfer at this point because shoot, we're in the hole and there is a list of charges pending, all valid charges. We call BB&T and a representative advises us that this happens from time to time, over long weekends such as a holiday weekend, simply so the money is not tied up for too long.
WTH?? If I make a transfer, you leave that transfer there until your bank can process it. Who gives you permission to undo what a customer wants to do and conscientiously does, without notifying them? Nevertheless, he says it's no problem, he's personally experienced it before, and the money should appear within 24 to 48 hours. He proceeds to credit the overdraft fee we had been charged at that time. This credit, he says, will topple the second transfer we made during our panic. No problem, we think BB&T is handling it like a champ and admitting to their mistake.
Two days later when the initial transfer never shows, we check the bank and realize we've been dinged with yet another overdraft fee, from one of the purchases we made during our vacation. We call the bank again and go over all of the details from the previous conversation up to that point. A nice lady kindly explains that she doesn't know what that previous representative is talking about and that all she can do is refer it to a 2nd level representative, who should be able to look further into our complaint and resolve it/call us back within 24 to 48 hours.
Mind you, charges are still clearing and only SOME from that weekend come with overdraft fees, some don't. We ask her, well why don't the other charges come with overdraft fees since they were all made around the same days, if what you're saying is true about our account having insufficient funding (due to this mysterious disappearing transfer)? "I don't really know", she replies, and begins to spit out her customer service rhetoric again about someone being back with us within 24 to 48 hours.
I say: FRAUDULENT and UNETHICAL. How does a bank like BB&T decide to cancel a customer initiated transfer between his/her own accounts? Even if the bank is closed, I initiated that transfer and until the bank can clear it, LEAVE IT ALONE. I believe this is their practice to catch people off-guard, especially during a holiday weekend because this bank KNOWS people will SPEND MONEY. Why play games to pad your own pockets with our hard-earned cash? If this doesn't get resolved, we're contacting a lawyer, the SEC and whomever else we can find to hear about this that can do something about it.
CLERMONT, FLORIDA -- I have been disappointed with this bank numerous times, initially after First Federal was bought out by Colonial, and now even more so with BB&T taking over. I should have quit them while the going was good. Now, I am paying THIS BANK a high price to get out!
Before telling my latest story with this financial institution, I must say that a few years ago this bank deposited my funds into someone else's account. I had no idea until my checks started bouncing like rubber bands! In fact, my first month's rent in my new home even bounced!
To say the least, I was very much inconvenienced and furious! I was patient until they straightened the mess out, waited until they notified all of my clients who had checks returned, and was very, very understanding with THEIR HUGE MISTAKE, considering the trouble this caused me! However...
After having a bad month financially, I was in need of help with a "stop payment" on a debit to my account, having tried to contact the loan company with absolutely no luck. I frantically stopped by BB&T, talking to the person in charge of accounts, asking for her help with this stop payment. She sympathized (right!) with me and at the cost of $34 told me I would be fine...the payment would not go through. At that time (a Friday), the payment was due to be debited from my account in two days (on a Sunday). I left the bank, feeling I had done the right thing, even though I could not even afford the $34 charge.
Six days later, I am in the car and decide to call the auto line to check my account balance. I was shocked to hear that I was over $180 in the red! Visibly shaken, I pulled my car over and dialed the Customer Service number, and after talking with a nice lady I realized that the stop payment was a waste of $34! I was informed at that time that, because it was a debit, it needed THREE working days to take effect. My payment was to post TWO days after the stop payment was issued. The person who set it all up for me DID NOT relay this information to me. Otherwise, I would have made another decision at that time.
Now, because the payment was deducted from my account, I had ANOTHER transaction as well paid by the bank because of INSUFFICIENT FUNDS to their credit (another $35 fee)! They have charged me $70 for these two transactions to be paid, as the money in my account was not enough after the $160 payment was taken out.
NOW I am out the payment of $160 (which I did not have the money for in the first place), out $34 for a stop payment which did not even work, and another $70 for INSUFFICIENT FUND transactions paid! I am so ready to just let this account go...but unfortunately, I have a savings account with this bank, and I am SURE they will get ALL OF THEIR MONEY from my piddly Christmas savings account! There goes my family's Christmas...thank you very much BB&T!!! You've ruined, pretty much, the rest of our year! I will settle this matter and get away from this bank ASAP! I will not give these people any more chances to steal my hard-earned money!!!
CHARLOTTE, NORTH CAROLINA -- I just sent out two electronic bills with the wrong date and couldn't change it a minute later. I called Customer Service to stop the payment from going out but it still caused a 36 fee and BB&T would not reverse the charges. I was left with very little money in my account. Customer Service said it was not the bank's fault and that I made the error and I would need to deal with the fee. This bank has the worst customer service I have ever experienced and I will be looking for another bank.
When debit transactions HAVE NOT posted to your account yet and are PENDING they charge you overdraft fees. They take all your debits before posting any credits, no matter if you have it deposited before 2 pm and even it is IN CASH!! I have banked with BB&T for 13 years and I have been DUMB enough to let them STEAL my money on at least 3 occasions!! I have honestly overdrafted before where the 35 dollar fee is necessary, BUT at least 3 TIMES they have charged me numerous fees for using money that was ACTUALLY in my account!! We are talking over 100 dollars in fees!!
PERFECT EXAMPLE: I have a posted balance of 251, 145 is posted to my account, 2/14. 2/14 pending 40 is, 2/15 transaction of 72 hits as pending. The 72 would have overdrafted, but I transfer 50 dollars in to cover it before any more than 145 is posted to my account. DOESN'T MATTER!! Starting with 2/14 transactions, I am getting overdraft fees of 35 per transaction, EVEN THOUGH the money is all there!!
I would like to stay with a bank I have been with for years, but unfortunately this being the THIRD TIME I've been SCREWED, I will be leaving IMMEDIATELY!! And I will tell EVERYONE I KNOW to not go with BB&T and to LEAVE because they will SCREW YOU and steal your money too!! I have had numerous people tell me they post the debits before posting any cash deposit, CASH IS CASH should be posted FIRST THING!!
Their customer services sucks, you talk to a machine for 15 minutes before you can get anyone, then they can only EVER give you 20% of your fee back if they think it was wrongly charged. Not the entire fee just 20% for using your money! BB&T CHARGES YOU TO USE YOUR MONEY!!
A fee for $2.95 recently showed up on my BB&T checking account. I had never been charged that fee before and was not informed that I would be charged it. I called my bank branch to see what the fee was. I was told "the computers are down" and they couldn't help me. I called another branch. The recorded message informed me that the bank was closed and I should call back during their working hours from 9 A.M. to 4 P.M. It was 9:20 A.M. I called a 3rd branch, where the teller informed me that the fee was for "the Plus Program, that used to be free, but now some customers were getting charged for it."
I told her I never signed up for the Plus Program, I didn't want it, and I was never informed I would be charged a fee for it. She said I had to come into the bank to sort out the problem. I work during banking hours and have no time to go to the bank for this kind of nonsense. I asked to speak to a manager.
Sat on hold for 22 minutes. Finally got a manager who said that "lots of people are complaining about that fee -- there must have been a system error." Of course BB&T isn't doing anything about the "error" unless you call and complain. The manager said she would take the charge off my account, but she "couldn't be sure" if I would be charged it again. Time to change banks. Monitor your accounts closely for new fees -- apparently if you don't catch the bank's errors, they will slap fees on your account.
WINSTON-SALEM, NORTH CAROLINA -- June 7, 2010, I wrote a letter of complaint, to the email inbox published for Mr. King of BB&T, about the excessive amounts of overdrafts they have charged my account. I also wrote a follow up email 6/22/2010 in the hopes that we could solve the issue amicably; however, my email has not had a response to-date.
At this time, I am not asking for all overdrafts that I have ever incurred on my account to be refunded, I am asking for some refund on the nearly $1000.00 in overdrafts for the month of June alone. This amount is not done in good faith or fair dealing.
My complaint starts from my conversation with one of the customer service reps from the 800 line at BB&T. I indicated that I wanted no overdraft linked to my checking - meaning that if there were not funds in the account to cover my debit card purchase or check to please return or reject the transaction. I had considered my request to be filled since the CSR said it to be true.
I should have had my doubts. The snowball effect of the nearly $1000.00 in overdraft fees for one month begins with one check that posted to my account after I have asked to stop all protection. I had $71.00 and they posted a $120.00 check and with many pending transactions triggered some nasty overdrafts. Since BB&T will continue to charge overdraft ontop of overdrafts that put your account in the black, it is impossible to know what the state of your checking account is. With automatic drafts and daily living - this has snowballed out of control.
After my first email asking for assistance, they offered to refund some monies; however, it still left my account in the red. I did explain this to the district manager and how this was going to trigger more overdrafts and not help get me out of this cycle. But, it fell on deaf ears.
I have since had to take a loan out on my 401(k) because who can afford to pay a bank $1000.00 a month? I have since opened a savings account with part of my check being direct deposited, but I feel that BB&T can afford to take some responsibility as well. My complaint on this board was as a last resort as I have tried to resolve with the bank directly. I have even spelled out my intent to start a campaign of complaint, but have had no response.
As stated in a earlier blog, BB&T is milking their customers very badly. Deposit posts are made prior to debit postings but the company BB&T is charging huge overdraft fees. I called Customer Service who were very RUDE. I even went to the bank and the teller was super nice UNTIL I brought this matter up. Her explanation in Spanish to broken English was horrible. I have since moved on to a credit union who 'gave me in writing' that this was NOT how they treated their customers. I am happy for one thing....BB&T pushed me away enough for me to find a GREAT Credit Union who is for their customers. Thanks BB&T!!!
SPRING HILL, FLORIDA -- BB&T has been systematically ripping off its customers by posting debits first, then posting credits or deposit. This is in stark contradiction to the policies banks, in general, have had in regard to this situation. Traditionally, banks would post deposits and credits first, usually at 12:00 midnight, then they would post any debits or withdrawals, summarily preventing unnecessary overdraft charges.
However in an effort, it seems, to pad their profit margin, they are posting debits first then posting credits. This new policy, in essence, increases the amount of fees that they collect, as a lot, if not most people in the lower and middle-class have a lower balance when it gets close to payday, or, when we get a windfall and our checking account balance is low, we expect that our deposit will hit the account before any debits.
Also, my wife has her check direct deposited. She is a school teacher. The checks go into the accounts on Thursday. They do not post until after 6:00 A.M. on Friday, again allowing for fees to be assessed for any debits posted at 12:00 midnight. It's clear that the banks have instituted this policy to glean more fees from the working class, while leaving the upper class and the well-heeled, virtually untouched. This practice is an outrage, and if the federal government and state banking regulators won't do anything about it, we the people, should start taking grass roots measures to rectify this problem.