OVERDRAFT (OD) / NON-SUFFICIENT FUNDS (NSF) FESS – BANK PLUS “STACKS THE DECK” WITH THE BEST OF THEM!!
I have been with Bank Plus for many, many, years and besides this one complaint I really have nothing against them but I can’t just go on ignoring their practices when it comes to NSF – OD (overdraft) fees.
This bank still practices something called “Stacking the Deck” where clever software reviews accounts (especially older ones) for TRENDS such as, when deposits are made and during which periods the account “barely floats” (low balance until next direct deposit) it then anticipates an account going into the red prior and once it does…..stand by…. because anything that’s “pending” like checks that were written days prior (that normally post in a day or 2) is going to be ran through so you end up with the dreaded $45.
00 coffee or Redbox rental.
And YES they will REARRANGE “Pending” check card transactions to maximize their OD fees! It’s just outrageous! Sadly this practice is NOT illegal but only “frowned upon” by the treasury. I have filed complaints with the state and the Federal Reserve but since they (Bank Plus) are not doing anything illegal they could do nothing. And I knew they couldn’t, but still wanted my complaint heard! In response BP will gladly send you their Customer Agreement you singed when you opened the account (yes the multi-page fine print one no-one reads) that states they will and can rearrange pending transactions as they please and in random order.
Granted Bank Plus will credit back a PORTION of the very FIRST incident (which is suspicious in its self!) but after that they don’t want to hear it. As a matter of fact, I have been waiting 2 weeks to hear back from some “officer” about my latest complaint about them stacking the deck on me.
Bottom-line: Many other banks have successfully been sued via class-action for this unethical malpractice. One of note which is local to me is Trustmark Bank.
**This practice clearly and directly abuses the poor and lower middle class that lives paycheck to paycheck. And in MS we certainly have plenty of those.
** DO THIS – the next time you already know you’re going to go negative and also know you have written checks or over used your check card…..Take “screen shots” of your account every day until AFTER your next deposit! You will be amazed how transactions have been moved around and all of a sudden checks were processed with the mid night oil! Then file complaints with the state banking commission and the U.S. Federal Reserve. While it may do nothing but make them answer the complaint (which they have to) maybe someday they will change their ways like others and not slam you with $36.00 OD fees on $1.50 movie rental.
** YES I am aware that staying out of the red is MY responsibility! And 98% of the time I do! I just hate being raped for 100’s of dollars when times get harder than anticipated.
BankPlus Reviews
OVERDRAFT (OD) / NON-SUFFICIENT FUNDS (NSF) FESS – BANK PLUS “STACKS THE DECK” WITH THE BEST OF THEM!!
I have been with Bank Plus for many, many, years and besides this one complaint I really have nothing against them but I can’t just go on ignoring their practices when it comes to NSF – OD (overdraft) fees.
This bank still practices something called “Stacking the Deck” where clever software reviews accounts (especially older ones) for TRENDS such as, when deposits are made and during which periods the account “barely floats” (low balance until next direct deposit) it then anticipates an account going into the red prior and once it does…..stand by…. because anything that’s “pending” like checks that were written days prior (that normally post in a day or 2) is going to be ran through so you end up with the dreaded $45.
00 coffee or Redbox rental.
And YES they will REARRANGE “Pending” check card transactions to maximize their OD fees! It’s just outrageous! Sadly this practice is NOT illegal but only “frowned upon” by the treasury. I have filed complaints with the state and the Federal Reserve but since they (Bank Plus) are not doing anything illegal they could do nothing. And I knew they couldn’t, but still wanted my complaint heard! In response BP will gladly send you their Customer Agreement you singed when you opened the account (yes the multi-page fine print one no-one reads) that states they will and can rearrange pending transactions as they please and in random order.
Granted Bank Plus will credit back a PORTION of the very FIRST incident (which is suspicious in its self!) but after that they don’t want to hear it. As a matter of fact, I have been waiting 2 weeks to hear back from some “officer” about my latest complaint about them stacking the deck on me.
Bottom-line: Many other banks have successfully been sued via class-action for this unethical malpractice. One of note which is local to me is Trustmark Bank.
**This practice clearly and directly abuses the poor and lower middle class that lives paycheck to paycheck. And in MS we certainly have plenty of those.
** DO THIS – the next time you already know you’re going to go negative and also know you have written checks or over used your check card…..Take “screen shots” of your account every day until AFTER your next deposit! You will be amazed how transactions have been moved around and all of a sudden checks were processed with the mid night oil! Then file complaints with the state banking commission and the U.S. Federal Reserve. While it may do nothing but make them answer the complaint (which they have to) maybe someday they will change their ways like others and not slam you with $36.00 OD fees on $1.50 movie rental.
** YES I am aware that staying out of the red is MY responsibility! And 98% of the time I do! I just hate being raped for 100’s of dollars when times get harder than anticipated.