Citizens Bank Complaint - I know it's legal but...
EAST PROVIDENCE, RHODE ISLAND -- I have posted here a few times in regard to overdraft and insufficient funds fees, and my position has been that although it is legal, it is not right that banks charge excessive fees.
I have been hit with a fee that I think is ridiculous! I deposited a paycheck and my employer mistakenly used the wrong bank account which was empty. Needless to say, it bounced! So the check was returned and on my end, I was charged a returned check fee on my account. Now my employer has offered to reimburse me for the amount of fee and that is fine. But c'mon, how is that my fault that this check was returned? The payroll check was drawn out of Citizens Bank (automatic billpay system) and my accounts are with Citizens as well, so it would seem to be that they should have refused the check when I presented it for deposit, knowing that the account it was being drawn from was empty. Instead, they allowed it for deposit, made the funds available for three days, and then took the funds back and charged me a fee. Also, my account was well into the positive so there was never a point when I was overdrawn due to this error.
I called their 800 # and nicely asked to be reimbursed and was politely refused. I have found that their phone reps are for the most part polite and try to be helpful but they really have no authority when it comes to reimbursing fees. So I have no problem with my dealings with the employees at Citizens, they are just doing their job.
So anyway, just another example of how banks are using predatory practices to maximize the fees they can collect!