First American Bank Complaint - Overdraft Fee Has To Be Illegal!
HOBBS, NEW MEXICO -- OK, this isn't my account that this happened to, but I saw the charges and can't believe it can be legal! If it was my account, I would be speaking to a lawyer!
Here's what happened. My company charged a client's checking account an incorrect amount. This ended up causing overdraft fees of almost $80.00 for one overdraft! Our client has about $200.00 in her account. My company charged her $600.00, which put her in the negative by $400.00. Then (all in the same day) two charges came out of her account together totaling less than $40.00. Then the $600.00 my company charged her was sent as an NSF, which put her account positive again, but they still charged her for the NSF and for two overdraft.
Now, in case you don't know, NSF means non-sufficient funds. In other words, it amounts to a bounced check. Overdraft is when the bank pays a check for you and puts your account in the negative to cover the check. This bank charged her overdraft fees when she should never have been over on her account! The transaction should have been sent back NSF with a single fee. How can a bank charge both overdraft and NSF? They are two very different things!
I fully believe that a class action lawsuit should be filed. As I said before, if this was my account, I would be speaking to a lawyer right now!