Webster bank is paying out an overdraft settlement for "out of sequence" processing of their customers' account transactions to intentionally cause multiple overdrafts. I am one of the fellows who got slammed by Webster... and will enjoy receiving my check when it comes. WEBSTER LOST BECAUSE THIS PREDATORY BANKING IS NOT LEGAL!!! For any bank!!! Someone stepped up to the plate and proved it. Now? My hope is to see other banks like Bank of America and Citizens Bank pay out millions as well.
There is something else I wanted to add. On 1-11-11 I was charged an overdraft fee by Webster bank that blew my mind! Never have I paid a bounce fee when my account never went negative! During a blizzard, I was forced to use my debit card as credit... then rush the cash in before the charges hit the bank... which I did. The bounce fee still stands as I climb up the ladder of reps to get it resolved. I GUESS THE NEW WAY FOR BANKS TO GET FUNDS OUT OF THEIR CUSTOMERS IS..."IT LOOKED LIKE IT WAS GOING TO BOUNCE... SO WE CHARGED YOU" The people at the bank are calling this a "float fee". How can they do this?
FARMINGTON, CONNECTICUT -- I have had issues with Webster Bank in the past. Last December they ran through charges from September, they admitted what they had done and said all NSF fees would be returned. (I had a plane ticket purchased on that date) A year later I am still fighting with them on it. They claim that I would have spent that money anyway. (I have shown them bank statements showing how THEIR error and NSF fees and calculations showing where my account balance would have been. They still claim it's not their problem. Well no crap you've got a nice chunk of my money!)
A couple of weeks ago, I went to the bank to cash my child support check. While it wasn't a huge amount it did exceed what I had in my savings account. They let me cash it with no problem. Same thing the following week. They let me cash the check with no problems.
Today, I went to cash my child support check again (which is less than the prior two checks) and they would only allow me a small amount of cash. They said because the check was more than what was in my account, they couldn't give me more than that. I asked why I was able to cash the prior checks with no problems. The tellers reply was, "What do you mean?" I've NEVER been to a bank that has done that.
I'm so fed up with this bank and their changing rules week to week. When I have problems and I go to talk to them (Because of their error) the tellers say, "It's not me..." They don't grasp when I talk to them that "you" refers to the bank, not them personally. They've also lost checks, twice. Can anyone in CT recommend a good/decent bank where the people actually UNDERSTAND you and don't change the rules week to week based on how they feel? Or can anyone inform me on how Credit Unions work? I've heard that those can be "better". Yeah, I'm cranky right now so if this doesn't make sense, please feel free to ask for clarification.