[X]
Write ReviewJump to 
5/3 Complaint - Overdraft Fees - Checking/Savings/Online Bill Pay
Checking/Savings/Online Bill Pay - Complaint
OHIO -- I have bee a 5/3 customer for years. 5/3 recently changed their online bill pay and instead of the items coming out on the date that you select 5/3 sends them when they want to that results in overdraft charges if you don't have the money in your account days in advance. I made a mistake of depositing money in anothe checking account on a Monday. The accounts are all together and connected. They sent out bills out the account that had no money in it(despite there being no available funds in that account and over the course of three days charged me $856 in overdraft fees. I went in to explain that I had made a mistake but that also that the bills were not to be paid till that Friday and they refunded $111. Which is laughable. I was ready to get over it an move on when I noticed they then charged me another $90 in overdraft fees after meeting with them and after I transferred money that made my account poaitive again. Bottom line not a forgiving institution and looking for anyway to get money. Why would you send out bills on an account with no money in it?
Comments:
Posted by trmn8r on 2011-11-28:
http://www.federalreserve.gov/consumerinfo/wyntk_overdraft.htm
The bottom line is banks aren't forgiving. I've never heard of them sending out payments "when they want," and would like more details of how you allege this took place. If you cue a payment for November 1, and the bank sends it on October 29th, this is something the bank can be held accountable for.
Automatic bill-pay and checks aren't covered by the "Opt-In" law, so if the money isn't in the account the bank will send it and charge you an overdraft fee. Most all banks do this.
The bottom line is banks aren't forgiving. I've never heard of them sending out payments "when they want," and would like more details of how you allege this took place. If you cue a payment for November 1, and the bank sends it on October 29th, this is something the bank can be held accountable for.
Automatic bill-pay and checks aren't covered by the "Opt-In" law, so if the money isn't in the account the bank will send it and charge you an overdraft fee. Most all banks do this.
Note: All comments are reviewed by a moderator before being published. Please be sure to read our guidelines before commenting.
Company Reps: Post your company response!
