BB and T Complaint - BB&T Rip Off - Deposit vs. Debit
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!!!
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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 the people, should start taking grass roots measures to rectify this problem.