About five years ago my checking account received an unauthorized debit from which I had made a previous purchase. The debit was for $30, but caused my checking account to go overdrawn by approximately $800.
Not knowing the debit had been taken and I was already overdrawn, I deposited enough money to cover my pending expenses and let my checking account to fall deeper and deeper in the red.
It took the bank 6 days to notify me of the overdraft on my account. In the mean time, the bank charged me $32 for every debit that came in as an overdraft, six dollars for every day I was overdrawn, plus the amount of each debit while not giving me overdraft protection and covering the amount I owed to each business at which I had made purchases.
When I discovered my overdraft, I immediately went to the bank and asked to see what had gone wrong. I received a small statement from all charges and deposits from the prior week and discovered the unauthorized charge. The bank contacted the business that had charged me and got them to take away the $30 charge without argument.
As for everything else, the bank did nothing to help me. I was told I would have to collect the overdraft fees from the company that had put me into the negative. They also continued to charge me $6 for every day I was overdrawn, causing the overdraft to grow even larger.
I was never able to collect my fees the company who had taken the unauthorized debit from my account. In the end, I owed every business what I owed them, plus their individual check-bouncing fees, the bank overdraft fees, the daily $6 overdrawn fee and also the money I owed to the businesses I had to pay two-fold to the bank.
To expose such practices from the bank and the business, I would contact the Better Business Bureau to report the incident and look for similar complaints.
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