A 21st Century Tale of Tyranny by a Predatory Bank
The Whole Truth, & Nothing But The Truth..
October 6, 2008 in Uncategorized | No comments
I will start this off with a short piece of background, just to try and get you up to speed about who we are and why we have gotten to this point in our old age:
I am 56 and my wife Theresa is 60 years old. I was a construction worker until January 02, 1996, when I was injured on the job. During the medical treatment I received I contacted a bone disease and became permanently disabled, no pension, not employable, with no job prospects.
My wife Theresa was and is our only source of income.
She has always worked hard, never taken a sick day, has always been a loyal employee no matter where she has worked or what she has done.
In September of 2007, she was falsely accused of a crime and fired from her job of 5 years, forcing her into a new field of employment.. One that she enjoys, as it turns out.
She became a home care worker. At first the pay was high and her hours long. Because her employer was an agency the bank that was used for payroll turned out to be US Bank, so naturally she got an account with them, (this has turned out to be the biggest mistake of our lives.) 5 months into her job, the client got ill and had to be hospitalized, putting Theresa instantly out of work.
With the help of some great friends and family, we were able to keep our heads above the water and overcome this setback. Theresa found a job through the State of Washington’s DSHS Department of Senior Sevices, where she was able to go back to school and get her Care Giver License and become employed just 10 miles from our home.
A good thing at the outset, a bad thing in the long run. Good because gasoline went really high in price, bad because the pay wasn’t nearly as good, bad because the pay was once a month and we ran out of money, 2 weeks before the end of each month. Bad because we slowly began to fall behind. Bad, because we kept US Bank as the folks to hang on to our money.
Which brings us up to the meat of this tale of mine, how US Bank has made criminals out of us.
In August, (the last 2 weeks) we ran very low on money and Theresa made a mistake, (she did what she had to do, to make ends meet) only.. what she did wasn’t really a good thing, just a necessary thing. She wrote 4 hot checks in the hope of keeping us from floundering and going under. She was wrong, she knew she was wrong, but she had no choice. Apparently, US Bank began licking their lips knowing that we had innocently set in motion, enabled them to begin to steal all that we had from us and more.
They penalized us in the form of overdraft charges, and fees. It turns out that US Bank is no better than thieves. They rob you blind and when you complain, tell you they can because you have signed a contract agreeing to your rape.. They gleefully point out to you the fact that it is all perfectly legal, and too bad for you.
September’s paycheck arrived and we set about paying off our charges and penalties incurred from the hot checks. 4 checks written for the amounts of $22.42, $12.39, $32.39 and $34.66 for a total of, $101.86.. US Bank tacked on overdrafts and penalties totaling, $425.25! We thought this was excessive but at the same time, we knew what she had done was wrong and that it was only right to pay for our mistake, so we did.
The only problem was, the bank never stopped even after we had paid, they wanted it all. Pandora’s box was opened.. US Bank rides a pale horse and ruin follows in it’s wake.
My wife’s paycheck was deposited, the amount being.. $1,218.24, this was to last us for the month, less rent, less utilities, less groceries. US Bank took $425.25 from it leaving us $792.99, (for the month.) They said we were all paid up, free and clear only they didn’t stop taking money. Online I found they had tacked on another $37.50 overdraft fee. Theresa took the print out to our local Gig Harbor branch to complain and so our rape began. The local people made fun of her. They publicly laughed at her, actually laughed at her and belittled her, to her face. She left the bank humiliated.
The rest of this story of mine will be told with the actual emails sent between us, US Bank and their Ethics Department.. It is the BEST way to show how crooked these people really are:
___________________________________________________________________________________________________________
Theresa’s 1st Email to the US Bank Complaint Department:
To Whom It May Concern:
I went to my local US Bank where I opened my account in Gig Harbor North. I took my paycheck in on September 05, 2008 to deposit and clear up my negative account balance. The teller that day, (Sept. 5th) was very nice and I explained I needed to know my exact balance after all this was cleared up.
I deposited, $1218.94. It showed I was negative, $382.75, but that another check had tried to come through and that made it, minus $420.25.
She said after all was said and done I would have a positive balance of $798.69 which she validated on the back of my deposit slip. My husband and I looked at our account online Monday, (Sept. 8th 2008) and saw US Bank had taken an extra $37.50 overdraft charge out of the account, again, 3 days after I was assured everything was paid up. I went over to the same US Bank, (Gig Harbor North) this morning, Sept. 09, 2008. I was showing the teller my copies from the online US Bank, banking account, including the copy of my deposit from Sept 05, 2008 and the deposit slip that the first teller validated.
I told this new teller it was my opinion that I was being ripped off for $37.50 when I was assured on Sept. 05, 2008 that the $798.69 was going to be my balance.
The male teller next to her joined in on our conversation and said, the teller on Friday, (Sept. 05, 2008) was wrong and that there was another check that had tried to go through and that the teller of Sept. 05, 2008 could not see it on her computer. When I questioned why I could see my checking account online and she couldn’t, he stated the online banking was, QUOTE: “Only a tool.” that, “it really didn’t mean anything.” In the meantime, the girl that was helping me was laughing at me.
I still feel that I am being ripped off for the $37.50 and I can tell you I was plenty humiliated that the girl was openly laughing at me. Because of this shoddy treatment I will probably be changing banks even though it was my fault for the initial negative balance I don’t see the need for these two tellers to openly, (and publicly) humiliate me. I am 60 years old and I can tell you I will not stand for this treatment.
Theresa D.
___________________________________________________________________________________________________________
Their 1st reply: September 10, 2008
Dear Theresa D,
Thank you for the opportunity to assist you through U.S. Bank’s online services.
On behalf of U.S. Bank, I would like to apologize for your recent experience. We understand how important great Customer Service is, not only to our customers, but also to us as a bank. The bank would not exist without customers. Sometimes we need to be reminded of this. I have forwarded your email to management at the Gig Harbor Office Branch. Thank you of making us aware of this matter and please allow sufficient time for your email to be reviewed.
Please let us know if there is anything further we can assist you with.
Sincerely,
Mike Myers
Email Operations
U.S. Bank 24-Hour Banking and Financial Sales
___________________________________________________________________________________________________________
We sat around, waiting for a reply and after not receiving one, I went online, trying to find somebody a little higher up on the ladder of command, I did and resent the 1st email..
___________________________________________________________________________________________________________
Their 2nd reply: September 10, 2008
Subject: usbank:
Date: Wednesday, September 10, 2008, 10:05 PM
Dear Ms.D,
Thank you for contacting us regarding your U.S. Bank account.
On behalf of U.S. Bank and myself, I would like to extend our sincerest apologies for the recent service you received while visiting our Gig Harbor North branch office. I assure you that it is always our intention to perform at the highest standards possible to meet our customer’s expectations. I appreciate your feedback on your experience, as I want to insure in the future that the expectations for quality service are met for all of our customers.
I would be happy to review your account and provide any information or assistance possible. I appreciate you contacting us via email and for bringing this matter to our attention. I look forward to your reply.
Shana Nadeau
Email Operations Management Team
U.S. Bank 24-Hour Banking and Financial Sales
___________________________________________________________________________________________________________
In between all of this the Gig Harbor branch of US Bank agreed to refund us the additional overdraft charge of $32.50, then the REAL thievery on their part began.
Our 2nd reply:
September 20, 2008:
Dear Ms. Shana Nadeau Email Operations Management Team U.S. Ban; This is a reply to your email of 9/10/2008 with an additional statement of great dissatisfaction with the predatory practices policy of the Gig Harbor North branch of US Bank.
Prior to my paycheck deposit of $1,218.24 I had overdraft and other charges totaling $425.25. When I deposited my paycheck on 09/05/2008, I cleared these charges off my record, yet I was charged an additional $37.50 overdraft fee which was refunded back to me when the Gig Harbor North Bank acknowledged it was a mistake after I spoke on the phone with “Jenny” who said she was the Co-Manager of the US Bank. On Septemeber 11, 2008, the $37.50 was refunded which brought my account back to the amount of $174.03. The very same day the refund was made my account was charged a total of $80.00 for charges to a collection agency for 2-checks that had supposedly bounced. These checks, #2046, (written on August 31, 2008) #2047, (written on September 03, 2008.) The next day, 09/12/2008 my account was then hit for the value of these 2 checks to the tune of, #2046 = $17.69, and #2047 = $32.51, making it a total hit for the sum of, $130.20!! On the 15th of
September I removed $40.70 leaving a balance of $3.83 in my account.
Today, September 20, 2008 I find my account has AGAIN been charged, $40.00 to the check collection company on September 18, 2008 PLUS I had an overdraft fee of $37.50 charged to my account, THEN to add insult to injury I am charged a Redepcheck charge of $25.23 for a check that was written on September 04, 2008 for a new total of -$99.60!!
Are you kidding me? My husband and I are on a fixed income. My monthly paycheck is our ONLY SOURCE of money and US Bank has taken a total of $550.95 PLUS wanting an additional $99.60 bringing the grand total to $650.55! I am looking at the header of the webpage and it says, “US Bank” but when I look at the amount that was taken from my paycheck it makes me think I am really banking with, “Check Into Cash” who charge a percentage rate of, 456.25%. If what US Bank has done to me isn’t predatory I don’t know the definition of the word. How is it possible for a check written on 09/05/2008 to clear but 3 other checks written on 08/31/2008, 09/03/2008 and 09/04/2008 do not? They were ALL written to the same place, Peninsula Market in Key Center, WA.
You know what I think? I believe that because I complained about shoddy service on 09/09/2008 and possibly got someone in trouble, I have been retaliated against. Something has been changed in my account to cause all these charges that make not one lick of sense and I WILL NOT take it laying down. This I promise you. I say it again, this is a PREDATORY RETALIATION and just because I am a Senior Citizen DOES NOT make me stupid!
-Theresa D.
___________________________________________________________________________________________________________
This is a copy of the actual on-line statement that we sent with the above email. I added the colored boxes so it would be easier for them to understand what we were saying. It turned out I was just wasting my time.
Their last reply to us:
Dear Ms. D,
Thank you for your reply and for providing the additional information below. I understand how frustrating and confusing fees can be when charged to an account. Please allow me to clarify what happened in your account and why the fees have been assessed.
An overdraft fee is assessed for each item that causes the available balance to become negative or occurs while the available balance is negative on the checking account. Overdraft fees are posted to an account the day after the bank has paid item(s) which brought the Available balance to a negative position. A deposit made on the day the fees are assessed will not stop them from posting.
Additionally, once an account has a negative balance for a period of 4 consecutive days then it is subject to the daily $8.00 Continuous Overdraft Fee. This fee may continue for a period of 30 calendar days or until the account is brought to a positive balance.
To determine the appropriate fee for a particular overdraft item paid or returned, we count the number of occasions in the preceding 12-month period. An “occasion” is a day in which your account has insufficient funds to cover an Item as defined in Your Deposit Account Agreement. Fees are subject to a daily maximum of 6 Paid and/or Returned Items, a maximum total of 12 per day.
Overdraft Item Paid
1st occasions $19.00 per item
2-4 occasions $35.00 per item
5 or more occasions $37.50 per item
Overdraft Item Returned
1st occasions $19.00 per item
2-4 occasions $35.00 per item
5 or more occasions $37.50 per item
The above fee information is disclosed within the Consumer Pricing Information brochure associated with your account. You are welcome to review the brochure online at the link listed below. You would need to select Consumer Pricing Information and select the state where the account was opened:Link T and C
On 08/29/08, the beginning account balance was $10.03. We processed transactions totaling $42.42 and two transactions cleared against a negative available balance. The transactions were as follows:
Date Transaction
Account Unavailable Available
Bal. Funds Bal.
08/29 2041 22.42 D
KB6240 IMG9394732706 CUSTOMER CHECK
12.39- .00 12.39-
08/29 2042 20.00 D
KB6240 IMG9394732705 CUSTOMER CHECK
32.39- .00 32.39-
On 09/02/08, the beginning account balance was negative -$32.39. We deducted two overdraft fees totaling $70.00 due to the above two transactions. Then we processed check number 2043 in the amount of $27.51 and this transaction cleared against a negative available balance. The ending available balance on this day was negative -$129.90. An overdraft fee was assessed on the following business day due to check number 2043.
On 09/03/08, the beginning account balance was negative -$129.90. We deducted the overdraft fee of $37.50 due to the transaction on the previous day. Then we processed transactions totaling $70.85 and two transactions cleared against a negative available balance. The transactions were as follows:
Date Transaction
Account Unavailable Available
Bal. Funds Bal.
09/03 2044 34.66 D
KB6477 IMG9396066414 CUSTOMER CHECK
238.25- .00 238.25-
Also throughout processing on 09/03/08, check number 2046 in the amount of $17.69 was presented for payment. Due to insufficient funds the check was returned and a return check charge posted on 09/04/08 in this regard.
Please note that when an item of yours overdraws an account, we can either pay of refuse to pay the item. If we get a batch of items in a day (checks typically come in batches,) and if one, some or all of them would overdraw the account if paid, we can pay or refuse to pay them, in any order, or no order. For example, if one large check and six small checks are offered to us for payment, and the one check would empty the account we can:
(1) pay the one large check and refuse to pay the six small checks;
(2) pay the small checks and refuse to pay the large check;
(3) pay all of them, creating an overdraft; or
(4) pay some and reject others.
We have all of these options each time you might overdraw an account. What we do one time does not make that a rule you can rely on for the future.
On 09/04/08, the beginning account balance was negative -$238.25. We deducted two overdraft fees totaling $75.00 due to the two transactions that cleared on 09/03/08 against a negative available balance. We also deducted the return check charge of $37.50 due to check number 2046. Check number 2047 in the amount of $32.51 was presented for payment. Due to insufficient funds the check was returned and a return check charge was assessed on 09/05/08 in this regard.
Also on 09/04/08, a continuous overdraft fee of $32.00 was assessed due to the negative available balance on 09/01/08, 09/02/08, 09/03/08, and 09/04/08.
On 09/05/08, the beginning account balance was negative -$382.75. A deposit in the amount of $1,218.94 was received but only the first $100.00 of the deposit was available on this day. The remaining deposited funds were held for verification per our Funds Availability Policy. A return check charge of $37.50 was charged on this day due to check number 2047. The deposit did not prevent the fee from posting. Because the available balance was still overdrawn, an $8.00 continuous overdraft fee was assessed as well.
Also throughout processing on 09/05/08, check number 2048 in the amount of $25.23 was presented for payment. Due to insufficient funds the check was returned and a return check charge of $37.50 posted on 09/08/08 in this regard.
Thus far, check numbers 2046, 2047, and 2048 were returned unpaid due to insufficient funds. The fees I have explained above are valid and were charged to the account correctly.
Please note that on 09/12/08, check numbers 2046 and 2047 were presented again for payment. They were presented electronically and paid. On 09/19/08, check number 2048 in the amount of $25.23 was presented again for payment. The item was presented electronically and paid.
On 09/18/08, the beginning account was $3.13. We processed check number 28202121 in the amount of $40.00 and this left the available balance as negative -$36.87. An overdraft fee of $37.50 was assessed on 09/19/08 in this regard.
On 09/19/08, the beginning account balance was negative -$36.87. The overdraft fee of $37.50 was assessed due to the check on the previous day. Then we processed check number 2048 in the amount of $25.23 and this left the available balance as negative -$99.60. An overdraft fee in the amount of $37.50 was assessed on 09/22/08 in this regard.
On 09/23/08, a continuous overdraft fee of $24.00 was assessed due to the negative available balance on 09/21/08, 09/22/08, and 09/23/08.
After careful review of the account history, I have determined the fees assessed are valid. Because the fees assessed were not a result of a bank error, I am not able to provide a reversal. I am very sorry for the additional financial burden this may cause.
The best way to avoid an overdraft situation is to keep a register of all items processing through an account. We provide several tools to assist our customers in maintaining their account register, including Internet Banking, and 24-Hour Telephone Banking. What we are unable to provide are the amounts of checks or other withdrawals that remain outstanding on an account. It is a customers responsibility to record each transaction that is made in order to know the exact available balance at all times.
Although I am not able to provide a reversal of the fees that have been assessed, I will certainly forward your emails regarding the service you have received at the Gig Harbor – Albertson’s Office to the manager for review. Again, I apologize for the service you received and for any misinformation you were provided.
I appreciate you contacting us via email and for the opportunity to assist you.
Shana Nadeau
Email Operations Management Team
U.S. Bank 24-Hour Banking and Financial Sales
___________________________________________________________________________________
Now we are nearing the end of my tale of rape because you see, we tried to close our account when they bounced that last check, (the one that was written when we had $1,200.00 in the account, the one they held onto for nearly 3 weeks before putting it through, causing it to rack up overdraft fees of nearly $100.00. Overdraft fees of one hundred dollars on a $25.23 check..) we tried to close our account in an attempt to freeze this charge, right where it was only, they wouldn’t let us! They wouldn’t let us close the account, instead they charged us a fee of $8.00 a day for the rest of the month of September through the entire month of October before finally closing our account.
The final charge for their parting shot of our rape? $479.10.. On a check that was written when we had money in the bank to cover it. A check they hung unto, (even though they cleared checks written after it) until we had no money in our account.. They held onto this check, pushed it through, started charging us overdraft fees, wouldn’t let us close our account, tacking on more fees for over a month bringing the total of our rape at their hands to the grand total of $479.10 on a $25.23 check!
Photobucket
How do you do this? How can you keep track of a check if they hold them for as long as they wish?
Photobucket
They provide Internet banking as a way to keep track of your checks, yet, when you point out the fact that you are using what you are viewing on line….
Photobucket
…You get told that Internet banking is only a tool and really doesn’t mean much. The numbers you see online aren’t the same as the ones the bank uses. I ask you, how are you supposed to keep track?
Photobucket
How do you deal with a company that plainly states the rules change at their whim? What they do once doesn’t mean you should count on it twice? How can you keep track of anything?
Photobucket
This deposit of ours is cut on a State of Washington check. It’s a good check that is good ANYWHERE in this State. You don’t have to check for avalibility.
A 21st Century Tale of Tyranny by a Predatory Bank
* Home
* About this Blog
* Subscribe to feed
About this Blog
This is a true story and it has happened to my wife and I. You go through life thinking that institutions such as banks are there to serve you.. They prvide a service to you and in turn, you let them use your money for investments so they can make a profit and grow.
It’s all a sweet fairy tale and in the case of US Bank, it is an out right lie.
They not only use your money for investments but when it suits them, they steal your money and when you can no longer pay.. they make criminals out of you, all the while protected under the law.
You don’t have to believe me but if you are curious enough I invite you to read my story and look at my proof and then you can wonder if you will be the next victim of these slime.
If you would like to read other’s horror stories, I invite you to view THIS LINK
http://www.consumeraffairs.com/finance/us_bank.html
