Citizens Bank Complaint - Shifting Deposits and Withdrawals in Citizens Favor
BOSTON, MASSACHUSETTS -- I have been (unfortunately) unemployed for around 2 months now. Each week, the state of Massachusetts direct deposits x amount of dollars into my citizens bank account. The amount always clears that day, as it is, a direct deposit.
This past weekend, something very funny happened. I watch my money very closely, as unfortunately I have to, so was aware that this past Friday, that deposit was being made. I logged on to Citizens Bank online, and saw that my rent check ( a fairly large amount) was being taken out that day. When it came to the deposit, however, it was marked for a date in the future (2/2/2009). I have never, in my life, seen a deposit made with a future date noted. No insufficient fund fees were noted at this time.
Today I checked online, as another direct deposit should be coming through, again, according to a Federal Source, and I've noticed I've been hit with several overdraft fees. After at least an hour on my phone bill of talking with a woman in Rhode Island (no 1800 number given, this was an out of state call on my expense) no resolution was given, in fact, no logical explanation was given. Just a lot of contradictory information and back peddling.
They first claimed that the check was not made to clear until 2/2/2009. I told them that the state of Massachusetts had made the check for 1/30/2009, and they are now claiming a federal account is giving me misinformation. Also I pointed out that I saw the check on 1/30/2009 in the account. After a pause, and some time on hold, the story changed to the claim that it was not deposited until after 3pm, and therefore could not clear until the following Monday. Of course, my next question was then why was there bank activity of withdrawals the next day. Why aren't deposits reflected as well?
I ended the conversation (which clearly was going in circles and had no real consistent logic) with informing them I will be contacting the Attorney Generals Office, BBB, and anyone who will listen. I'm thankful this check came from a federal source, as I hope to raise a red flag to the state of Massachusetts. I'm interested if their are other people with similar problems, and if so if there is something we can do about this. There must be a law against this sort of money shuffling, which some how always ends in the banks favor.
If not, this is something our government should begin to monitor more closely, especially during these financially tough times.
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