anyone here work for a bank?

**jiveass** · 07-13-2010, 04:14 AM

Ok, so heres the scoop....occasionally i get low on funds and have to go negative in the bank...what i usually do is pay all my bills n such, .. and get my account to almost zero...say like $15 left....then i make sure all my transactions are cleared or in pending at least...so i go to the gas pump and fill my truck up....ok cool..i know that ill have 1 overdraft fee when my next check goes in..im fine with that...wrong....it appears that the bank rearranges all the transactions to take out the big amounts first so that all the little charges can go negative and i get hit with like $400 in overdraft fees...now i always go to the same places to buy stuff as far as stores go, and i know how long it usually takes for their transaction to post....why is there a delay on the shit when my account is low? ..this shit is pissin me off....now i dont wanna hear how i should manage my money better or none of this shit...dont bother posting if thats what youre gonna say...i just wanna know if someone here works for a bank and if there is some shady shit goin on...i heard from a few people that the bank has software that can rearrange transactions in order to try to make themselves money on the fees....

**ssgtcarroll** · 07-13-2010, 04:21 AM

You can have them disable overdraft protection. It will just decline the card if you attemp to use more then whats available.

My wife is in banking. She has never mentioned any software that does that.

I believe you should better manage your funds.

**FatTom** · 07-13-2010, 04:32 AM

Yep - that's what they do. Learned that the hard way. It's a royal PITA! Just another way of sucking money from you. My wife does an awesome job with our money, but this has happened to her as well.

**Spaz** · 07-13-2010, 04:36 AM

from what i understand is that if you deposite even $1.00 if you're over drafted they won't nail you with a shit load of charges... i may be wrong about that though...

**jiveass** · 07-13-2010, 04:44 AM

I d better with money when it was actually in my wallet. I think I'm gonna just let my direct deposits go in each payday and withdraw it all out that same day. Bam! No more fees. That way I'll know what I got for sure. I know I won't be fuckin myself on overdraft fees.

**Zinergy** · 07-13-2010, 05:45 AM

I work for a bank but in Home Mortgage, I asked some people in personal banking and they said the charges are put through in the order they are received. Most banks can have overdraft fees stopped, you will just be declined when you go over.

**Detroit Power** · 07-13-2010, 09:38 AM

I'm having Deja Vu. Didn't you post a thread on here before about your personal banking and overdrafts and how your "system" was causing you to have overdraft fees?

EDIT: N/M, that was RamAirGod84 here http://www.ls1.com/forums/showthread.php?t=138324

**86 IROC-Z** · 07-13-2010, 09:41 AM

It's a bank. They might have the guise of being the holy grail of being a safe place for money and a place to get a loan, but they're still corporate companies in a capitalist market. They would kill your wife and rape your dog if it increased their profits.

**Schmalgar** · 07-13-2010, 10:08 AM

I've seen quite a few news stories on this. It's a standard industry practice. The banks say it's because they feel their customers want to be sure their big payments which might be rent/mortgage or car payments get through. But common sense and numerous investigations show that it's so they can levy as many overdraft fees as possible. The banking/credit industries have discovered they can make billions with fees, much more than with the interest they charge. So they do everything they can to levy as many fees as they can.

**jiveass** · 07-13-2010, 10:28 AM

Originally Posted by Schmalgar

I've seen quite a few news stories on this. It's a standard industry practice. The banks say it's because they feel their customers want to be sure their big payments which might be rent/mortgage or car payments get through. But common sense and numerous investigations show that it's so they can levy as many overdraft fees as possible. The banking/credit industries have discovered they can make billions with fees, much more than with the interest they charge. So they do everything they can to levy as many fees as they can.

Isn't this a form of stealing?

**86 IROC-Z** · 07-13-2010, 10:40 AM

Originally Posted by needls1again

Isn't this a form of stealing?

It doesn't matter what it is. They're more powerful than you. If you disagree all you can do is stop using their services.

**jiveass** · 07-13-2010, 10:43 AM

Originally Posted by 86 IROC-Z

It doesn't matter what it is. They're more powerful than you. If you disagree all you can do is stop using their services.

like i said, i had better control of my funds when it was in my wallet. so im just gonna pull my cash out every payday and they can fuck off and die somewhere.

**gonzo99ta** · 07-13-2010, 07:31 PM

everyone curses this practice when it happens to them, but they all know if they were running the bank they would do the same thing... if it makes the bank money, why wouldn't they? the fee isn't hidden so the customer is fully aware of the potential results...

just my $.02

**Schmalgar** · 07-13-2010, 07:35 PM

I would like to think my business would be about customer service and not customer gouging. That is what the American business model has become. Across so many industries the 'strategy' has become about finding ways to levy fees against their customers to make profit, rather than about providing superior desirable services to make profit. And that is just lame.

**gonzo99ta** · 07-13-2010, 08:01 PM

Originally Posted by Schmalgar

I would like to think my business would be about customer service and not customer gouging. That is what the American business model has become. Across so many industries the 'strategy' has become about finding ways to levy fees against their customers to make profit, rather than about providing superior desirable services to make profit. And that is just lame.

So if your customer tried to cheat you on the bill, you would not impose a penalty?

by writing a check and not having the funds to cover it (at the time written) that is what you are doing. this has nothing to do with customer service.

banks have all kinds of programs to prevent overdraft fees (draw from other accounts, credit cards, etc...). they are full of services. If customer is not willing to take advantage of them... here come the fees.

I'm not a banker, but i have no problem with the fees or how they charge them.

**HOBS** · 07-13-2010, 08:45 PM

It depends on the bank whether they draw it out in order or by the amount so you could always check around to see if there's one in your area that does it by date. Also I'm like 75% sure overdraft fees fuck your credit if it happens enough. I'm sure someone will correct me if I'm wrong.

**jiveass** · 07-14-2010, 03:37 AM

Originally Posted by gonzo99ta

everyone curses this practice when it happens to them, but they all know if they were running the bank they would do the same thing... if it makes the bank money, why wouldn't they? the fee isn't hidden so the customer is fully aware of the potential results...

just my $.02

oh ..i was fully aware of the ONE overdraft fee i would create, and i was fine with that...but when they go switching the order of the transactions to be able to create multiple fees, then thats where they are fuckin me.....

**Zinergy** · 07-14-2010, 05:48 AM

Originally Posted by Schmalgar

I've seen quite a few news stories on this. It's a standard industry practice. The banks say it's because they feel their customers want to be sure their big payments which might be rent/mortgage or car payments get through. But common sense and numerous investigations show that it's so they can levy as many overdraft fees as possible. The banking/credit industries have discovered they can make billions with fees, much more than with the interest they charge. So they do everything they can to levy as many fees as they can.

But what you dont understand is that most loans like mortgages the bank doesnt get the interest. Almost all our mortgages have investors, banks aren't looking to wait 5,10,30 years to make a profit. But investors are, investors are the ones the interest goes to and the bank gets a serviceing fee for working the loans and the late chatge fees, nsf fees the bank gets to keep. Alot of customer dont understand this or even know they have an investor other than the bank who actually owns the loan and has the final say on what can and cant be one to the loan.

I think they should be waived if a customer can explain the issue, I do think there should be some form of forgiveness. I work for a bank and bank with that bank but my overdraft fees still dont get waived, they dont even care that im an employee. They just tell me to have my manager waive the fees and then I tell those morons im in home mortgage and me nor my manager have access to the personal banking system.

**Schmalgar** · 07-14-2010, 08:01 AM

Originally Posted by gonzo99ta

So if your customer tried to cheat you on the bill, you would not impose a penalty?

by writing a check and not having the funds to cover it (at the time written) that is what you are doing. this has nothing to do with customer service.

banks have all kinds of programs to prevent overdraft fees (draw from other accounts, credit cards, etc...). they are full of services. If customer is not willing to take advantage of them... here come the fees.

I'm not a banker, but i have no problem with the fees or how they charge them.

It's not the fee itself. You are correct on that. It's the manipulation of order of charges to get more fees. That's where it gets sketchy. Instead of processing charges in the order on which the come in, they stack them and then clear them in a manner that brings in more fees. My bank has taken a charge from as far as 3 days prior and placed it behind a charge from 'today', and sure enough that led to more fees...

**Schmalgar** · 07-14-2010, 08:03 AM

Originally Posted by Zinergy

But what you dont understand is that most loans like mortgages the bank doesnt get the interest. Almost all our mortgages have investors, banks aren't looking to wait 5,10,30 years to make a profit. But investors are, investors are the ones the interest goes to and the bank gets a serviceing fee for working the loans and the late chatge fees, nsf fees the bank gets to keep. Alot of customer dont understand this or even know they have an investor other than the bank who actually owns the loan and has the final say on what can and cant be one to the loan.

And you are correct also. It's the stock/investor driven economy that causes/enables much of these shady practices. Companies can no longer think in long term strategies. It's all about this quarter or at most this fiscal year. Do anything to make the numbers for the quarter/year. The future is irrelevent...