Citizens Bank Complaint - Citizens re-arranges the order of holds and knows it's robbery
I just had an issue that was PARTIALLY my fault and partially not.
I had 106 dollars in my account on Friday.
On Saturday I made purchases totally 104 dollars. The money was all done as credit, each one I have receipts for the time they were done.
These were done March 19.
Come Monday morning, I see overdraft fees for ALL of my purchases except 1!!!!
We had an automatic payment that I forgot about that was debited on March 22. I thought I had changed the credit card that it came off of from this debit to a new account.
I can't figure out how I get NSF fees when the money is there.
Well come to find out.. even though the holds were placed on Saturday.. as Of Monday morning, they remove the holds that I had placed on Saturday, ran the debit HOLD from the 22nd FIRST- THEN ran all the debits through. This was explained to us by the manager and he FLAT OUT ADMITTED... it's an attempt to get NSF fees because in August.. this practice becomes illegal.
So basically I had 106 and there were holds totally $104. Monday they take off ALL THE HOLDS and then.. they placed a hold for $7 (yes 7) THEN proceeded to run the rest of the transactions through in the following order
$7 hold placed March 22
$75 March 19
$25 March 19
$3 March 19
$1.20 March 19
So after the 75 came out.. I was "overdrawn". Here is the kicker... the hold placed the 22 didn't POST to the bank until the following day.
In total I SHOULD have been overdrawn on TUES for 46 dollars.. I agree.. my fault I should have checked the website to see which card I had it set on.
But I was actually overdrawn to the tune of $192 because of their changing the order of debits.
Yeah, its tricky math and they KNOW it's dishonest but they want all the fees they can get until the law goes into effect in August