Don't trust your bank

[Phil P]

Hi

I had my bank pull a fast one on me last month.

I have a line of credit that I use when brokering items they may need parts, fuel or repairs to close the deal.

I logged on my online banking to make a payment on the appointed day. The bank system said I didn’t have any payment to make the amount was all 0’s. This is not abnormal so I paid it no mined.

When the statement dropped about a week latter it was still 0’s on the online banking.

About a week later I get a call from the bank. They said I had an outstanding balance that consisted of $13 plus a $30 late fee..

I explained that the online banking did not agree with that. I paid it on line then a few days later went to the local branch to find out what was going on.

We down loaded the bank statement (I am on paperless banking) and it showed the $13. We logged on my online banking and it showed 0’s and the payment. The bank office agreed that this is not correct. The branch bank officer was on the phone with the home bank for an hour and a half. After that he informed me he could not get the information because the bank wanted me to call them and gave me an 800 number to call to work with the online banking people to see what the problem was.

Well this I did and was informed they could not do business with me over the phone I had to go to my branch and have them call. After going up the line to several supposed supervisors they agreed to have someone call me in 2 or 3 days but nothing would change because they will only do business with me from the branch bank.

Well in my opinion this equates to not an error in the online banking software but a deliberate maneuver to generate income from late fees.

I will be changing banks including the trust account and maybe when I transfer the large amount of money the trust handles every month they will get around to acting like legitimist business people.

Phil P

[1retired06]

Frustrating for sure.

[richfaa]

Never had anything as bad as that happen. We did make a routine on line payment on a bank loan well within the time frame only to get a "late charge" from the main office .Went to our local branch with the supporting documentation that it had been paid before the late date. The pay date at the main branch differed from the pay date recorded when I made the payment.They took my pay date and removed the late charge.

[JandC]

I would change banks in a heartbeat over an issue like that. A few years ago we had our small business accounts with a national brand bank. After everything was set up our checks never came. They apologized and re-ordered. They still never came in so we closed down the accounts at that bank and went down the street to the next one.

[waynemoore]

I only deal with credit unions. Our business,personal and trust accounts are with several credit unions. I spread it arround a bit not all my eggs in one basket.

[Dam Worker]

I have never seen a bank that isn't scheming some new way to get your money to become their money. Credit unions are better but think back and see if you can remember ever going into a bank that did not seem to be shiny and new. Maybe it is that little gimmick of paying you basically nothing for having money deposited with them. On the other hand look at how much they charge you to borrow money from them. Banks, Credit Card Company's and PayDay Loan outfits are all the same in my opinion. We had American Express do the same thing to us though our Costco Account. We dumped them and I am glad that you are dumping them too. As previously stated Credit Unions are usually better to deal with.

Tom Marty

[DQDick]

That's why we do our major banking with a small family owned local bank. We have a savings account at a national bank so we can bank anywhere but the basics are done and the money held by folks we've known for years.

[navybanker]

Well, that small local bank will probably be purchased by a larger bank and there you go again! I worked in commercial banking for ten years in a small town bank. It changed hands three times and is now owned by a bank operating in four states. The problem with small banks is they have to hire companies to handle accounting, computer systems, credit cards and etc. The bank rep may be talking to someone in India. Credit Unions don't pay federal income taxes. We keep accounts with two different banks to be safe.

[Phil P]

quote:Originally posted by navybanker

Well, that small local bank will probably be purchased by a larger bank and there you go again!

Thats how I got the bank I am with presently the local bank was purchased by one of the very large banks.

Phil P

[richfaa]

We have had the same Local bank for over 40 years and I can recall it being bought and changing names 4 times in that period.

Our checking accounts are free, checks are free, online banking is free money orders are free as I recall we have to keep 500.00 in the checking account.there is no charge to use the bank debit card. We have several accounts at that bank .

We have alerts set up to advise us of selected transactions example any transaction of over 1000.00.

Balances are reported to us vis E mail every day.We do monitor our transactions daily and check over our statements for errors.
We do the same with any credit card statement and bill paying statements. The only charge we have at the bank is the safety deposit box.


We also have a Federal Credit union account in many cases the rates are better there. We travel all over the country and thus far have had no problem with online banking. You do have t o be alert and monitor at all times.

[Artemus Gordon]

In smaller Communities like mine, the small local banks share your info over coffee and golf. Have banker friends and they gossip more than the "Housewives of Orange County"! Our banking is handled by a large banks wealth management department. It secure and we have an actual banker to call. The bigger banks are getting the message. You don't have to be rich to get these services. If you do have assets over $500,000. the benefits and services get even better and can be extremely valuable.