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Daily Overdrawn Fees
Posted by Scrapingby on 08/30/2011
SOUTH CAROLINA -- I just want to let people know that the daily $5.00 fee that thsi bank charges begins the day you have an overdraft hit your account and continues over the weekend when the bank is closed and you don;t have access to correct the problem. For example I had an overdfraft from $6.70 debit card transaction. The charge $35 plus $5 on Friday the day it hit my account. Then on Monday, which is the day I learned I was overdrawn and traveling so I could not make it to the bank until Tuesday, they charged me $15 more for Saturday, Sunday and Monday. I understand the $35 overdraft fee when the item hit my account but it would at least be somewhat human of them to give me time to learn this has happened before charging me another $20 unneccesarrily for a mistake of $6.70. Whether anyone agrees or not this is my3cents.
Thanks for letting me vent.
     
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Posted by tnchuck100 on 2011-08-30:
Welcome to the new age of banking. Banks are figuring out new ways to impose fees. With the recent implementation of new banking restrictions they are putting new names on old fees and coming up with new ones to recover the revenue source that dried up.

Close your accounts and find a credit union. Opt out of overdraft protection. They are EXPENSIVE loans.
Posted by Anonymous on 2011-08-30:
Actually, this is not a new practice. If you are overdrawn, and don't immediately take care of it, you will be charged a daily fee, including weekends, at nearly all banks.

Chuck has great advice..go with a CU or small regional bank, and opt out of overdraft protection. I'd rather be slightly embarrassed seeing my debit card declined than have to deal with recouping from expensive OD fees.
Posted by Kris10 on 2011-08-30:
I recommend changing banks. I have M&T and recently had a completely accidental overdraft. They don't charge you and ODF if you're over drawn by less than $10. After that they charge you a $35 fee and only after 5 days of being over drawn after that are you charged an additional fee of $10 and it's not per day. it's every 5 days.
Posted by Slimjim on 2011-08-30:
I agree with changing banks. That fee schedule is an overkill penalty and you can do better.
Posted by Kris10 on 2011-08-30:
Hmm, how come I can vote another comment helpful? if I could I would vote everyone's comments helpful. There are so many predatory banks out there. CUs are usually pretty good, but if you just want a bank, I highly recommend M&T if you have one near you.
Posted by scrapingby on 2011-08-30:
Thanks for the comments. I am going to change banks and most of the banks policies I have looked up do offer a 3-5 day grace period to give you time to find out about the overdraft before they start charging a daily fee. I will have to check into the M&T bank several people have mentioned. I am not familiar with this bank. Also checking our CU's. Thanks for listening.
Posted by grandma005 on 2011-08-30:
Carry a $20.00 bill tucked awat some where and this would have been prevented.
Posted by bjh Herman on 2012-08-25:
we are notified that my husbands retirement check will be deposited into our acct on the 1st, we have 2 loans due then but the bank will deposit it til the 4th or 5th not bcuz its a holiday or weekent. Then they will take the payments on the 1st and they money isnt there and charge our account $35 for each loan. Then they say the have a "any time due date" any time they decide to take a payment so your account is never late which makes the credit manager look very good not many past due accounts. But when you use your money and dont know they took another payment you get charged $35 for over draft and $5 a day til you pay it and dont know you even have it til you get something in the mail 3 or 4 day later!!! Sounds like robbery by a bank. Bye Bye robber!!!
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BILL PAY SCAM
Posted by Willy ACE on 08/09/2006
RALEIGH, NORTH CAROLINA -- I have been sending online payments with Firstcitizens Bank for at least a year now, probably longer. They have always treated it as they have any other check, withdrawing the amount of the check when it was cashed, and even stated it in every billpay notice after I had scheduled it. The last time they didn't do that, they changed their procedure and withdrew it on the date that it was scheduled, before it was even cashed. Regardless of policies, etc., there was a pattern, without change or prior notification, until this last time. Because they did that, I ended up incurrring $288 of service fees (which should also be illegal if those check cashing places are)

In each of the previous scheduled payments they withdrew the money sometimes a week or more AFTER the "scheduled" date and stated, as shown below in the info pasted from the billpay section, that they WERE NOT going to withdraw it on the date that I "scheduled" but instead, the day it was cashed.
I am pasting
1) The single statement in question from all previous payments
2) the statement from the one in question
3)The complete message from each billpay (the one in question first and the 5 prior)

They say they have reviewed this issue and concluded that they did exactly as I requested and that is was my error. Ok, if that is the case, then they committed fraud on each previously scheduled payment because they DIDN'T withdraw on the date scheduled. I never would have scheduled a payment knowing it wouldn't be covered. In fact, that payment WOULD have been covered if it had been posted the day it was cashed. This is totally unfair and I think they need to refund my service fees.

1)FUNDS FOR THIS PAYMENT WILL BE WITHDRAWN FROM YOUR ACCOUNT WHEN THE BILLER CASHES THE CHECK

2)FUNDS WERE WITHDRAWN FROM YOUR REGULAR CHECKING (acct # removed) ACCOUNT ON 07/31/2006.



(below is pasted from the billpay screen- made the portions that you need to compare all caps,
basically the last sentence in each one)

3)
(payee name removed) REGULAR CHECKING (acct # removed)$200.00 07/31/2006 5JZKV-665DC Paid Check #66101097 from your account was mailed to (payee name removed) on 07/26/2006. FUNDS WERE WITHDRAWN FROM YOUR REGULAR CHECKING (acct # removed) ACCOUNT ON 07/31/2006. Contact your financial institution if you have a question about when your funds were withdrawn. ========================
(payee name removed)REGULAR CHECKING (acct # removed) $200.00 06/30/2006 5G4FQ-T8JFQ Paid Check #5162 from your REGULAR CHECKING (acct # removed) account was mailed to (payee name removed) on 06/27/2006. FUNDS FOR THIS PAYMENT WILL BE WITHDRAWN FROM YOUR ACCOUNT WHEN THE BILLER CASHES THE CHECK.
=======================
Check #5161 from your REGULAR CHECKING (acct # removed)account was mailed to (payee name removed) on 04/24/2006. FUNDS FOR THIS PAYMENT WILL BE WITHDRAWN FROM YOUR ACCOUNT WHEN THE BILLER CASHES THE CHECK.
========================
Check #5160 from your REGULAR CHECKING (acct # removed) account was mailed to(payee name removed) on 03/27/2006. FUNDS FOR THIS PAYMENT WILL BE WITHDRAWN FROM YOUR ACCOUNT WHEN THE
BILLER CASHES THE CHECK.
=======================
Check #5158 from your REGULAR CHECKING (acct # removed)account was mailed to (payee name removed) on 02/17/2006. FUNDS FOR THIS PAYMENT WILL BE WITHDRAWN FROM YOUR ACCOUNT WHEN THE BILLER CASHES THE CHECK.
========================
Check #5159 from your REGULAR CHECKING (acct # removed)account was mailed to (payee name removed) on 02/17/2006. FUNDS FOR THIS PAYMENT WILL BE WITHDRAWN FROM YOUR ACCOUNT WHEN THE BILLER CASHES THE CHECK.
========================
     
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Posted by Anonymous on 2006-08-10:
JayD,

I think what Willy Ace is saying is that when the bill payment was scheduled online, say for 7/26/06, the amount of the billpay check was deducted from his account when the check was produced prior to mailing out (on 7/26/06) and not when the check was presented to the bank for payment (say, a week later, giving him about a week to cover it should his account be short) as was done in the past.

By the way, my bank uses this policy, they will deduct the amount from my account, then produce and mail the check to the merchant. I much prefer it this way.
Posted by Anonymous on 2006-08-10:
Here's your problem: the bill payment companies have two types of remittances; electronic and paper check. When you set up a payee they check a list to see if the payee is able to accept electronic payments. If they are, that's how the payment is made. That payment comes out of your aqccount immediately because it is sent immediately.

If a company is not equipped for electronic remittance, the bill payer generates a paper check. This gets mailed and hits your account when it clears.

Now... if a company updates their banking so that they now can accept electronic remittances, they notify the bill payer and get added to the list. This benefits the payee because they get their funds more quickly, and don't have to deal with checks.

You have been playing with the check float, and you got burned. By law, you are supposed to have the funds available in the account when the check is issued. You apparently do not. With the advent of Check21, even paper checks are going to clear *very* quickly. Plan accordingly.
Posted by Willy ACE on 2006-08-10:
You're close, but no cigar. A "float" would be if I wrote a check actually gave the check to the payee, say a retailer, by hand, and didn't have the funds. This, however, is no different than me writing the check, mailing it to (in this case an individual), asking them to hold it until a certain date by which I would have the funds to cover.
But that's not really the point here, I know that because the bank didn't use your floating checks arguement. What they said was this "Dear Mr Ward, Thank you for your email. We do apologize for your frustration, but according to our terms and conditions, we have done as you instructed us to do. You requested a payment with a due date of 7/31 and we delivered as requested. It is described in our terms and conditions the possible ways our payments are sent. Again, we do apologize for your frustration, but we only did as you requested. Thank you for contacting First Citizens Bank. Sincerely, E Sawyer Online Banking Supervisor"
But, if you go back to previous payments this is not what they did, they didn't withdraw until the check was presented AND, furthermore, they even made this statement when I scheduled the payment
"Check #??? from your REGULAR CHECKING (acct #) account was mailed to (payee) on 06/27/2006. Funds for this payment will be withdrawn from your account when the biller cashes the check."
They changed the method as to when it was withdrawn without my knowledge. Now they won't even answer my emails. Wonder why?
Posted by cheated2010 on 2011-04-16:
The point is he was using a check pay not electronic pay that was changed without notice.
I have a real problem with banks using this method to defraud consumers. They send out a check to a payee and withdrawl immediately which at this time you do not have the money and neither does your payee. Who has it? The bank of course...they deposit your money into a temporoary holding account to make interest on it while it is in transit and until the check gets cashed. Now who is the billpay fruadster here? The money should really stay in your account until the payee gets it. Seems the bank this guy was using didn't wise up to to this trick until after they started their program.
I use Wells and Chase-they both use this trick.
Middle Americans get dumped on again!
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Construction Loan Fiasco
Posted by Tarider1 on 06/19/2012
HENDERSONVILLE, NORTH CAROLINA -- First Citizens Bank in Hendersonville NC provided a construction loan for the building of our home on property we owned in Hendersonville NC. When our initial builder was bought out by another. The new builder bought a contract to the bank in the name of RAD Construction. The bank asked him for his license and he provided his friend's brother's license in the name of Boston South Investments. When the bank asked him for insurance he provided insurance in the name of Double R Windows. The bank didn't question any of this or alert us. They proceed to pay the guy, Ronald [snip] money from the construction loan. The building was substandard and the bank paid for stuff which was never done. They paid without our authorization. Follow my blog at tarider1.blogspot.com. Our advice stay as far away from this bank as you can
     
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Posted by Alain on 2012-06-20:
I looked at your blog posting and didn't see any mention that you had contacted an attorney. If you're disputing this situation with the bank, you might want some professional legal advice since the bank probably has attorneys working with them.
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Bank Is Allowing A Teller Leader To Have Bad Customer Service
Posted by Whyher on 11/03/2010
BEAUFORT, SOUTH CAROLINA -- I have mortgage loans with this institution and due to those loans, I get the best checking account free of fees. I have used the Lady's Island branch most of the times, and I usually use the same teller that I have been doing for last 10 years, but now different associates from the bank discourage me to use the branch or the teller. After my concern, one of the executive sent me an email that I could use whatever branch I choose, but then, there was no customer service. And, again, asking me to use different associate. I have shared my concerns with the CEO and the president and requested to send me a "refusal letter to use certain teller" on their letter head, but I did not get any response, yet any further requests have been ignored.

All I want from them is genuine customer service which are to be extended to every single customer in fair way.
     
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Posted by clutzycook on 2010-11-03:
I don't get it. First they tell you to use a different bank branch, then they say you can use whatever branch you want but you can't go to a certain teller's window? Huh?
Posted by werelucky on 2010-11-03:
Did you ask the teller you have been using for the past ten years what is going on?
Posted by trmn8r on 2010-11-03:
Was there an issue with a certain teller or tellers that led to management intervening and asking you to use others?

That was all I could think of, unless this bank is trying to discourage all customers from using tellers. Sounds odd, but some banks seem to be reducing their face-to-face customer service.
Posted by momsey on 2010-11-03:
I'm very confused by this. Why would the associates discourage you from using a certain branch or a certain teller and how do they do this?
Posted by Obsfucation on 2010-11-03:
It sounds like the branch has a 'traffic control' system, and that OP is disrupting it by refusing to go to the next available teller.
Posted by momsey on 2010-11-03:
Obs, that makes sense.
Posted by Anonymous on 2010-11-03:
Indeed it makes perfect sense. A 'traffic control' system is far more important than a customer. Well that's probably true at First Citizen's Bank.

Now I on the other hand can dig the OP wanting to stick with the same teller. I don't bank at big national corporate bank like Citizens. No sir I bank at a small locally owned community bank where I have my own personal banker. I have his email address and cell phone number. If I ever need anything I can call, shoot him an email or just drop by his office. He knows me and I know him. It's really nice.

But I gotta admit that doggone 'traffic control' system sounds wicked.
Posted by whyher on 2010-11-04:
FYI...this branch has had high turn over, at least a half dozen of branch managers, personal bankers, and about a dozen of tellers except the teller leader. Maybe the management think she should work less, so they would keep her regardless of the quality of the services. Not sure!

I have a golden customer who has almost every single account they offer for consumers except credit card. I like other companies credit card much better. All my accounts are in good standing. Maybe they don't make enough fees off me since I get free checking due to my two mortgage loans?
OK, some of you said that the bank was controlling the traffic, but why? I don't understand the reason behind? Maybe I am dumb!
Posted by Obsfucation on 2010-11-04:
Bank try to control traffic because it creates efficiencies in staffing. The system tracks customers and times when the lobby traffic is not as high, or maybe very high. The branch can then staff according to these needs. The benefit to the customer is that employees are they when they need to be.
It isn't the end of the world, but if someone stands at the head of the line waiting for a particular window to open, it skews the timing and the timer, and makes the system less efficient.
When the bank has accurate numbers, there will always be a teller waiting for you. When they don't, the bank will err on the side of not enough staff, since they are a very high expense in running a brick and mortar branch. In other words, it is to the customer's benefit to have such a system, not withstanding the requisite smarmy comments which you can count on here.
Posted by whyher on 2010-11-05:
I can see your point if it was happening inside of the branch, but I was more talking about phone request or e-mail request. I guess I did not clearify.

Though talking to FDIC to find out if that was allowable to ignore customer's email request to transfer some money from one account to the other,evidentially, "there is a no federal law" to cover that part. I think the bank knows they can get away with it. He strongly encouraged me to contact the Federal and state congressmen to add it to the FDIC's Rules and Regulations to protect consumers and customers. Moving my accounts to some other bank is not going to implement the law, but by voicing myself hoping the congress would do create a new rule and regulation to implement such as what is minimally requested, in what timely manner, etc. Hope it makes a sense!

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Fees on top of fees
Posted by JadeT1 on 02/17/2010
NORTH CHARLESTON -- I looked over my account and found that I had paid out over $1000.00 in less than 30 days in bank fees.... These were overdraft fees and NSF fees based on pending charges that dropped off... Example (rental car company hold 300 for deposit but never takes the money) I got charged for being overdraft even though my account showed a positive balance. I am seeing no returned checks no neg. balances and this morning $105 in overdraft fees.... Something has to be done about bank fees.... $35 charge when nothing is actually happening is wrong no matter how you look at it...
     
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Posted by goduke on 2010-02-17:
When a charge is held, such as an authorization for a rental car, that money is completely unavailable for you to spend until the authorization drops off. That many seem unfair or unreasonable, but it's the rule. If you attempt to spend that money, you will be charged an NSF fee. Again, it may seem unfair or unreasonable, but it's the rule. That's why virtually all auto rental places recommend against using a debit card.
Posted by Anonymous on 2010-02-17:
" Something has to be done about bank fees"

There's always something that can be done about overdraft fees.
You can keep track of your account rather than just relying on what it tells you online.
All it takes, as you now know... purchase to forget about... and the snowball of overdraft fess will occur.
Just use your online banking as sort of a checks and balances kind of thing. But, use a check register to keep track of your spending and crediting. If you don't have time to write down everything; save all your receipts and do Quicken. Or, save your receipts and do your balancing online. Whatever it is you're comfortable with, keep track of your spending. Not everything shows up online as pending or holding or whatever. The electronic age still has some flaws. Only *you* know what you've spent, what auto debits are coming out, and what checks you've written.
And, the issue at hand (about rental car holds) works just like how goduke says.
Posted by Anonymous on 2010-02-17:
These corporate banks are nothing but rattle snakes in the brush waiting to strike at any moment and for any reason. I admire the people on here who give excellent advice on how to handle these rattle snakes without getting bitten. It's quality advice for sure. But if you ask me the best way to avoid getting bitten by one of these vipers is to avoid them altogether. I have no stomach to be a snake charmer.

JadeT1m, find yourself a local community bank or credit union where you will find more favorable terms and where you will be appreciated as a customer. There are so many better options available to handle your banking needs why in the world would anybody RISK doing business with the likes of the snakes at Citizens Bank.
Posted by goduke on 2010-02-17:
Great advice Stew. You are correct, I was more focused upon stopping the bleeding rather than upon how not to get cut in the first place.
Posted by Anonymous on 2010-02-17:
This is going to change in the near future, but in the meantime, if you give your account information to a vendor, and they place a hold on your account, those funds are not available to you until the hold expires, and if you do draw against them, you'll get hit with a fee.

Never a good idea to use your debit card unless it's a direct purchase.
Posted by JadeT1 on 2010-02-18:
I agree with the exception that the online banking system they use does not show it as unavailable. My point is that if you use a check for a deposit the the company holds the check then returns it to you the bank would never have known in the first place. I can see the charge if the check was cashed where the bank covered something I did not have enough money for, but to charge $35 for something that dropped off is wrong.... Thats like charging interest on a loan that you never got not too mention that the automated system doesn't tell you it isn't available only pending. Basically when I use my card I check available balance and go by that. My available and actual balance both showed more than enough to cover the charges that I paid fees on, the only place I showed being overdrawn on was pending. The other morning I was charged (for example) $105 in over draft fees when I had more than $1,200.00 in the bank, In fact the only charge to clear my account that night was the fees.
Posted by JadeT1 on 2010-02-18:
I logged into my bank account just after my last post and even though I am not and was not overdrawn in either pending or available balance I was charged another $105 in fees and again it was the only thing to clear my account.... At this rate the fees are what is breaking me. In 15 days I have paid $930 in fees, and when I was overdrawn it was the fees that put me there.
Posted by Anonymous on 2010-02-18:
Jade, the best thing you could do would be to close the checking account and open a savings account where you can deposit your pay, and draw out money orders to pay your bills. Sounds inconvenient? How convenient is it to pay a thousand dollars a month in overdraft fees. If you insist on having a checking account, at least cut up the debit card, it's killing you.

If you go into your branch, someone can probably explain to you how the electronic banking works, and maybe save you some grief, because it sounds like you'll have the same problems no matter where you go.
Posted by Anonymous on 2010-02-18:
This is why you shouldn't go by just what it says online... for it doesn't show everything. Online banking should just really be used as sort of a checks and balances kind of thing.
Your available balance is just that... what is available... but, it may or may not include anything you've done that day.
For example, I pay my Time Warner bill electronically... but, it doesn't show up as pending or taken out of my available balance. And, sometimes, it takes up to 6 days to post. So, in that 6 days... if I spend more than what that bill was for... as soon as it posts, everything I've spent will more than likely overdraft my account.
We may be in the electronic age... but it still has it's flaws and kinks.
It's all in all, better to keep track of your account with either a register or Quicken or something other than solely relying on what it tells you online.
If you use your debit card as debit (you punch your pin code in), it shows up as pending, online, and usually posts the next business day.
If you use your debit card as credit (you don't punch your pin code in), it could take up to 6 days to post... and may or may not show up online as pending.
If you just go by what it says online, what you have available... not taking into account that there's things you've done that aren't showing as pending... that's where you find yourself in hot water. That's where the cascade of overdraft fees come.
Checks and auto debits don't show up as pending... they don't show up until they post. So, if you forget about them, and spend a bunch of money... when those items post and they drain your account; every purchase you've done since will more than likely overdraft.
Only *you* know what you've spent, what checks you've written, and what auto debits come out.
Posted by momsey on 2010-02-18:
You also need to check your account a lot more often! I look at my accounts daily online. Yep, I've screwed up and gotten overdraft fees, but since I look at my accounts every day, I'm able to at least prevent further fees from hitting my account by depositing money quick.
Posted by JadeT1 on 2010-02-18:
Thanks for your imput, what ended up happening today was after reveiwing the account at not time was I ever overdrawn, in fact some of these fees came out when I had over $1200.00 in the bank and it was often the only charge on the account..... I spoke with the FDIC about this and they had me fill out a complaint and fax in the supporting documents which I did, they called me back very quickly and said they would handle it and that I was right there was no visiable reason for the fees to begin with... I was only overdrawn 1 day about 2 weeks ago and only that day yet their system has charged me nearly everyday since. According to the FDIC overdraft charges due to atm card usage will not be allowed after July because of a new law going into place. Most complaints from consumers are from excessive fees and more often than not from a debit card.... Debit cards were designed for the purpose of speed (not having to write a check) the banks have exploited the use of the cards to the point they are making laws to prevent banks from charging overdraft fees until the account is really overdrawn. This new law will also require a bank to put in all credits then debits.... The way it looks I will likely get those fees back... If you could see what I was seeing you would know what I was talking about... There really was no reason for the fees, and apparently because I do a lot of deposits and debit someone didn't think I would notice.
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Ripped Off!!!
Posted by Pretty Poodles in Pink on 08/17/2009
My husband's debit card was stolen. Our local branch faxed the paperwork to Columbia. They investigated the claim and charged us $114.66 to investigate!! It's like we were being kicked again in the groin by our bank! What about customer service. I had been banking there for many years but was screwed for being a loyal customer.
     
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Posted by MSCANTBEWRONG on 2009-08-17:
Did you provide a police report to the bank?
Posted by yoke on 2009-08-17:
Agree with cantbewrong. What did the police report say?
Posted by tnchuck100 on 2009-08-17:
There is that "...a loyal customer." phrase again. No bank out there today gives a damn about a "loyal customer". That concept is long since dead.

This is the first time I have ever heard of a bank charging the customer for a stolen card. Looks like they have figured out a way around the $50 liability. And them some. Now they actually profit from you having your card stolen. Just another angle on the banks screwing their clients to the max!
Posted by PepperElf on 2009-08-17:
always do a police report
Posted by BokiBean on 2009-08-17:
I've never heard of a charge to investigate, either. This is a new one on me. Victimize the victim...
Posted by MaggieMcT on 2009-08-17:
Usually bank fees are in even amounts. $114.66 sounds more like the card was used by someone, and the bank isn't covering the loss.
Posted by Anonymous on 2009-08-17:
I agree with Maggie.
Posted by acntlaw1 on 2011-01-24:
Ask for unauthorized debit refund. First National did that when i got scammed.
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I fought for them they ripped me off
Posted by Ripped off Veteran on 08/10/2009
I inadvertently overdrew $60.00 from my account. I was charged $410.00 This is a 500% profit. Don't, I repeat, don't bank with first citizens bank. Its amazing in America that you can serve your country and its people and the thanks you get in return is by being ripped off.
     
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Posted by goduke on 2009-08-10:
Thanks for your service to the country.

Technically, though, they didn't rip you off. You agreed to the fees when you opened the account. I don't think that military service gives one the right to overdraft the account without penalty.
Posted by Anonymous on 2009-08-10:
Even though you served our country, if you overdraw your account, you're still going to get fees. By the amount you posted, looks like you had many overdrafts... not just one. All it takes is one overdraft to snowball your account if you don't have a handle on it. One overdraft can turn into 11 overdrafts if you spend more money than you had in your account. Or, if you forgot about a purchase and it comes through... leaving no money to pay for the rest of the purchases you've made.
Posted by Suusan B. on 2009-08-10:
What the previous two posters said - - I'm running out of the energy required to explain these types of situations. And on top of that, I just painted my nails and this complaint isn't worth having to do it over again.
Posted by jktshff1 on 2009-08-10:
suusan, best answer
Posted by Anonymous on 2009-08-10:
I fought in Operation Desert Storm and don't expect not being charged if I overdraft my account. Saying that you "fought for them" is not at all accurate, what did First Citizen's Bank have to do with the war?


http://www.ft.com/cms/s/0/43d18c68-851d-11de-9a64-00144feabdc0.html?nclick_check=1
Posted by Principissa on 2009-08-10:
My husband is a Gulf War Veteran and if he overdraws our account he knows that not only will he have to answer to me, but it's his fault for it happening to begin with. Like my husband you chose the military. And to make statements like that is a slap in the face to our men and women both fighting and not.
Posted by Eloise on 2009-08-10:
My father served as a officer in the Air Force for 26 years, and guess what he doesn't spend money he doesn't have. As a result he never pays overdraft. This has nothing to do with you 'service to our country,' it has to do with your inability to keep a check registry.
Posted by PepperElf on 2009-08-10:
I'm also a Vet - over 13 years.

I'm also widely known for saying here that if you don't keep an accurate register of your account you can get hit with overdrafts.

and by this i mean the pen & paper version - that way you'll never "forget" about a pending transaction.

my mother is a perfect example... she's been keeping a ledger of her bank account since she had her first account... so in over 50 years i don't think she's ever overdrafted
Posted by sarsly on 2009-12-16:
I'm not sure why people don't "get" the outrage.

Loansharking is illegal. That's what these banks are doing with their excessive, ridiculous, punitive fees.

An overdraft of $60 should not result in over $400 in overdraft fees no matter how you look at it. Yes, people goof from time to time. Should a bank make BILLIONS in profit from a goof while the little guy can't afford to buy groceries because of an overdraft snowball?

Crazy what we'll see as acceptable in the name of profit.
Posted by PepperElf on 2009-12-16:
because this isn't illegal
people might dislike it
but there are no laws being broken
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Only Go With First Citizens If You Want To Get Screwed
Posted by Poor boy on 06/06/2009
SIMPSONVILLE, SOUTH CAROLINA -- Now that times are tough, keeping a plethora of extra money in the bank has become difficult. On this occasion, I swiped my check card for $1.47 more than the balance. This being a Back-up card, I did not use it more than a couple times a month. I admit, the subtraction error was my own.

I got a call from First Citizens telling me that I owed them $65. Shocked, I asked for details. They informed me that my account was overdrawn. Since I was out of town when I received the call, it took me a couple days to get back to make a deposit. Little did I know, the fees add daily. The deposit was not enough and so unknown penalties kept adding. I got a message later telling me that I owed them 127.00. I informed them that I had made a deposit to cover the overage and stop the fees. That is when they revealed to me it had not been enough. I emailed and called to get clarification and understanding. They did not call back. The fees continued. Shortly after this, they closed my account and now have it in collections for 250.00. This all started with $1.47. They do not communicate to the customer and will not work with you. If you have extra money in this economy, respect it enough to not place it with First Citizens.
     
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Posted by madconsumer on 2009-06-06:
all the fees are given in the customer agreement.

as you said, it was your error.
Posted by yoke on 2009-06-06:
How did they NOT communicate with you. You yourself stated they called you, banks don't normally call you when you overdraft. When you got your NSF notice what did you do?
Posted by saj80 on 2009-06-06:
When they contacted you, did you tell them you were out of town? If I were you, I would make time to visit with a local branch manager; no guarantee this will resolve getting some fees refunded, but it would be worth a try.
Posted by Suusan B. on 2009-06-06:
$1.47 does not equal a "plethora of extra money". Whether times are tough or not, it is your responsibility to maintain an accurate check register and balance your account frequently so that "subtraction errors" do not occur. As far as the fees you were charged are concerned, they are all outlined in your account holder agreement.
Posted by BokiBean on 2009-06-06:
Yo, let the bank apologists chatter away, but for a $1.47, my credit union wouldn't treat you like that.

And fees accumulate daily? WTF is that? On the same overdraft?

Anyway, check out your local credit unions.
Posted by Anonymous on 2009-06-06:
Same here Boki. My credit union may have charged me the overdraft fee (although doubtful), but they sure as heck would not have let it snowball into $250 worth of fees. Banks can work with a customer if they choose to, and most wont. IMO if a person is not constantly a habitual customer making over drafts the bank should cut them a little slack.
Posted by BokiBean on 2009-06-06:
Same here, John. For $1.47 this customer was ABUSED.
Posted by Soaring Consumer on 2009-06-06:
WHOA! $315 in penalties for a $1.47 overdraft?! They are really taking advantage of you.

I don't think much negotiating can be done since it is now in the hands of a collections agency.
Posted by tnchuck100 on 2009-06-06:
"Yo, let the bank apologists chatter away,..."

Yes, Boki, and indeed they will. Disgusting isn't it? They probably would change their tune quickly if they were mistreated. But their day will come sooner or later.
Posted by DigitalCommando on 2009-06-06:
Bank apologists? That's pretty bad when a bank has to create this job title. I wonder what kind of experience they need to apologize for 8 hours a day. Maybe they are ex Ashley and Dish CSR's.
Posted by BokiBean on 2009-06-06:
DC, that's MY title, I be the one giving it out.

Indeed, chuck. Its like putting a frog in cold water, then turning up the heat under him til he boils...amazing what some people get conditioned to accept.

To me its like robbery. To other people its like well-deserved punishment. I don't get it.
Posted by madconsumer on 2009-06-06:
best answer yoke.

best answer susan b.
Posted by DigitalCommando on 2009-06-06:
Maybe the sign on the banks entry door should read
"Sorry, Were Open" and the flipside says "Yes!, We are CLOSED!"
Posted by yoke on 2009-06-06:
The reason the OP got so many fee's is he ignored the banks request to put the funds into his account. HE decided how much he would deposit and told the bank that was all they were getting. That is not how it works. Even credit unions don't call when you have an overdraft, they will send a notice and then if you don't respond they will send you a letter, etc.
Posted by PepperElf on 2009-06-06:
what i'm wondering about is... if the bank called him up to say "you're overdrawn"....

why didn't he say right then and there, "I'm out of town, could you tell me were the closest bank is?" ... or if he had the funds in another account, ask for them to be transferred.
Posted by DebtFree on 2009-06-28:
Banks are out to make a profit. They are not non- profit organizations. No one likes to pay fees but if you choose to open a checking account you must play by the rules. If you don't like your bank then find one you do like. I can tell you that they are all very similar. YOU screwed up and didn't balance your account and then when you found out you didn't immediately go deposit money. Of course you are going to get hit with fees. Why didn't you go by the branch or try to call more than one branch? The economy is not just tough on YOU it's tough on the banks too. Not all banks took part in the TARP program.
Posted by hopper14 on 2009-08-18:
Best answer BokiBean and John in SoCal. Why are people supporting the banks. Do they have stock in it? If the banks are so perfect, why are they on these forums defending them? I'm suspicious.
Posted by hopper14 on 2009-08-18:
DebtFree-ponder this: "Its like putting a frog in cold water, then turning up the heat under him til he boils...amazing what some people get conditioned to accept."
Posted by scrapingby on 2011-08-30:
Their fees also add up each calendar day including weekend days that they are closed. And there is no grace period from the time of the overdraft to allow you time to get to the bank and take care of it. I am there with you. Sucks!!!
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