Banking question??? Bounced checked, son of a bi$ch!

[woundedduck]

i just closed my account at regions for this very reason. they run the big charges first to put you negative and then the little ones for $30 a pop. i was $17 overdrawn which i am guilty of but they charged me $137 - 4 overdrafts for $30 a pop. 1 big charge and 4 little ones for less than 20 on each one. and the little ones occurred before the big check was even written(weekend). im pizzed!

[D-2 Olt]

This will take care of it!

[dadbennett]

overdraft protection- bank gives you the piece of mind that if you go slack on your accounting and bounce a couple of checks/debits (which they hope you do), not to worry dear customer, they've got your back. When actually they got your booty, and they jab it as much as they can without KY and then the coporate guys get a pat on the back. I hope that explains it.

[lowbar]

Regions adjusts overdraft charges
The Clarion-Ledger • October 2, 2009

Starting next year, Regions Bank will stop charging overdraft fees to customers who overdraw their accounts by less than $5.

The Birmingham-based bank also said it would not charge customers more than four overdraft fees a day.

The regional bank’s announcement comes on the heels of national banks announcing similar changes.

Last month Bank of America said it would not charge overdraft fees when customers overdraw their accounts by less than $10 a day and would not charge more than four overdraft fees in one day. Chase announced it would not charge customers if their accounts were overdrawn by less than $5 and would reduce the maximum number of overdraft fees from six to three.

Wells Fargo, which operates Wachovia, last week introduced a plan that does not charge fees if a customer overdraws their account by $5 and caps overdraft fees at four per day.

The bank changes come after an official from Federal Deposit Insurance Corporation called for the Federal Reserve to issue tighter regulations on overdraft policies, the Associated Press reported.

In making its change, Regions said it was trying to help consumers manage their finances. The bank said it already waives the first overdraft fee a customer is charged and allows customers to opt out allowing an account to automatically go over the limit.

[duckkiller]

bottom line here is keep up with your checking account via a check register and not to completely trust the ATM and you want have this problem. Now I know I will get blasted for saying that but honestly I dont care. Im very tight when it comes to spending my hard earned money and a simple timeless habit of keeping track with what I spend via a check register and then using the online banking to trippple check my records and my statement keeps me from worrying about OD.

[farmerc83]

Regions adjusts overdraft charges
The Clarion-Ledger • October 2, 2009

Starting next year, Regions Bank will stop charging overdraft fees to customers who overdraw their accounts by less than $5.

The Birmingham-based bank also said it would not charge customers more than four overdraft fees a day.

The regional bank’s announcement comes on the heels of national banks announcing similar changes.

Last month Bank of America said it would not charge overdraft fees when customers overdraw their accounts by less than $10 a day and would not charge more than four overdraft fees in one day. Chase announced it would not charge customers if their accounts were overdrawn by less than $5 and would reduce the maximum number of overdraft fees from six to three.

Wells Fargo, which operates Wachovia, last week introduced a plan that does not charge fees if a customer overdraws their account by $5 and caps overdraft fees at four per day.

The bank changes come after an official from Federal Deposit Insurance Corporation called for the Federal Reserve to issue tighter regulations on overdraft policies, the Associated Press reported.

In making its change, Regions said it was trying to help consumers manage their finances. The bank said it already waives the first overdraft fee a customer is charged and allows customers to opt out allowing an account to automatically go over the limit.

If the fear of a $30 overdraft fee doesn't help folks manage their account then how is letting them know they can go $5 under going to help? Too many people will find this out and break the -$5 limit just like they have $0 and be back to b!tching at the banks.