1
Helpful
Votes

Branch Bankers and Trust Complaint - BB&T Eats the Poor

Review by G Noel on 2009-05-27
ARLINGTON, VIRGINIA -- Danger Will Robinson, Danger!

BB&T has tighten down their overdraft fees for the bad economy, showing a level of greed that takes advantage of those just getting by.

Before using a debit card, even though the charges may be approved electronically, make sure your balance can carry the weight. Failing to do so can mean high overdraft fees, and service charges that can best be characterized as usury.

BB&T has now taken to approving low risk, high pay-off debit card charges - resulting in an unusually expensive consumer checking service.

I highly recommend banking elsewhere.

Being on a fixed income, I recently ran up a $13 dollar overdraft from a restaurant, though the charge was approved electronically. The result? A $35 overdraft fee, a seven day "carry" fee of $30, and, to add insult to injury, a $2 telephone customer service fee when I called, and called back to complain about these fees.

If the overdraft had been say, fifty dollars, it would have been a refused charged, but because the edge condition favored the bank by over 400% they allowed the charge,

I understand that free checking is rarely free, but this kind of coloring scheme risk assessment in such financial times means that those of us who can ill-afFord it are especially vulnerable to exorbitant fees.

Avoid BB&T
Comments:6 Replies - Latest reply on 2009-05-27
Posted by madconsumer on 2009-05-27:
"Before using a debit card, even though the charges may be approved electronically, make sure your balance can carry the weight. Failing to do so can mean high overdraft fees, and service charges that can best be characterized as usury."


am i missing something here? shouldn't one make sure they have available balance 'before' they spend? i do not think this is a new concept by no means.
Posted by Suusan B. on 2009-05-27:
A free checking account is never free if you overdraft it.
Posted by MSCANTBEWRONG on 2009-05-27:
User error doesn't equal banking error...if you don't have money in your account, then don't spend any.
Posted by Anonymous on 2009-05-27:
No matter how you explain it the amount of these fees are ridiculous.
Posted by MSCANTBEWRONG on 2009-05-27:
I have banked with BB&T for over 20 years and have never had an issue. Fees are outrageous, I give you that, but with those kinds of fees, it should be a major discouragement from spending monies you don't have.
Posted by BokiBean on 2009-05-27:
Welcome to the new world of banks. Come over to credit unions, they are more customer friendly.

Your Name:
(displayed with your comment)
Your E-mail:
(required)

Your Experience/Advice:
Check spelling


By clicking submit you agree that you have read and accept the Terms of Service & Privacy Policy.


Note: All comments are reviewed by a moderator before being published. Please be sure to read our guidelines before commenting.