Do you get hit with high overdraft fees from your bank? Sick of it?
In most instances, I'd say that should make you pay more attention to how much you're spending. But what if your bank was charging you with fees even if you had enough money to cover your expenses? That's what one woman who is suing her bank, Fifth Third Bank in Cincinnati, is claiming. (Fifth Third sued over overdraft policies).
Since the suit was just filed, it'll be a while before we know how the court comes down on this, but I suspect many people feel vindicated just because of the lawsuit itself? How many times have you felt screwed by a bank with no recourse? I know I certainly have.
A few years ago I got a fat check for some freelance work and deposited into my checking account at an ATM machine. This was normal and I'd never had a problem doing so. A few days later, I wrote checks to cover some bills, and I'll be damned, they all bounced. Why? Because the bank never credited my account with the amount I deposited. A bank representative told me on the phone that that was because they didn't recognize my signature on the back of the check (as if someone working there KNEW exactly what my signature looked like, and never mind the fact that the name and address on the check matched the name and address on my bank account).
It took a few days and I finally got the issue resolved, but for about a week, my bills were unpaid, I had no access to my own cash and I'd been hit with more than $100 in overdraft fees. All of this happened after I deposited a check into my own account for more than double the amount of bills Id written checks to pay.
Needless to say, I switched banks. So I'm curious: what are some of your bank fee horror stories? Unfair overdrafts? Onerous ATM fees? What does your bank do that you hate?
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