Sovereign Bank Complaint - The Fees Game
On Friday I had a total of $1,750 available in my account. On Saturday I used $1,570. That leave $180 left over. On Sunday I deposited through their ATM machine CASH (Key Word Here) for $1,100. On Sunday night I checked my account on line and it showed a $1,000 ATM Withdraw! On Monday I had $880 on online payments goint out. Monday morning I stopped by the bank to see what the $1,000 ATM withdraw was all about. The representative looked up my account and did not see this transaction. I showed him a copy of the online statement and he said that you can not withdraw $1,000 from an ATM at one time. I told him I could not use my ATM since it rejected a withdraw and said I had a negatitive balance. Again he went through all the transactions and could not find it. He stated my account was fine and that I had money available and to fill out a withdraw slip and he would get me the money, which I did. On Tuesday my account had been billed 9 Unavailable Funds Fees and 4 Overdraft fees. Again I stopped at the bank and another representative looked up my account. He could not explain why these fees were posted and stated he would talk to the division supervisor and would call me back with an answer. He later called back and said the supervisor would not remove the fees because the $1,000 was on hold (like a check). I sent an email to customer service and this is what they sent back to me....
Thank you for your recent email. Funds from cash deposits made at ATMs that we own or operate (“Sovereign Bank ATMs”) prior to the cutoff time of 3 p. m, will be available on the next business day after the day of deposit for withdrawal. However, the cash deposit is available to pay debits on the account on the business day we receive the deposit.
What they had done is withdrew the entire $1,000 and held it until Tuesday and manually redeposited it into the account.
So, I guess the statement "However, the cash deposit is available to pay debits on the account on the business day we receive the deposit." only applies when they want it to. Either that or their great banking system software is flawed and can not distinguish between cash withdraws and paying bills so they just took it all out! Hmmm, makes you wonder how many other people they have done this to. Thank "Higher Power" that I made copies of all this now you see it now you don't transactions.
Needless to say, I have filed a complaint with the Better Business Bureau and the Banking Commision. I will not let this matter rest!