NFCU ~ What Happened???? Good News, Bad News

[fishbjc]

I phoned NFCU to make a pyment on NavChek and VISA, total amount was $600. Got confirmation #. I'm at the hospital with my dad, he's having surgery....phone rings....I answer....it's NFCU. Rep was inquiring about payment....they didn't want to charge a late fee, so could I schedule the payment? HMMM, I already scheduled. She INSISTED that there was NO record and amount due was actually $388. I said OK, schedule the $388, and we're good. This morning I try to use my debit card....declined. WHAT? I kept $500 in there as a cushion!!!! I get to work, log onto my RBS acct.....Yep...NFCU took out $388 AND $600, causing me NINE OVERDRAFTS. I am so MAD at this point. I call in and get a RUDE REP, so I hang up and call again. Young lady speaks to supervisor and they verify the two payments, apologize and agree to refund the $600 AND if I will fax my statement in, they will credit me the NSF charges. I hope they actually follow through on this. I'm not happy as it will take up to five days for the $600 to be re-deposited.

[Uborrow-Upay]

Ouch!

Sorry this happened, fishbjc.

Don't want to bum you out any more than you already are about this incident, but now you're not only temporarily out the $600, but also the 9 x $39(?) = $351 for the overdraft fees, until they reimburse you.  Gotta figure that in, too, when re-balancing the checkbook.

I also hope that none of those NSF checks went to other credit card companies.  Bounced checks are one of the reasons CCCs use to go to the default rate APR on accounts.

I'd ask them for a written explanation/apology of some sort to document all of this, not just to confirm their willingness to cover the OD fees, but also to send to any creditor that may question the reason for the bounced checks.  Might not do any good, but it couldn't hurt!

Hope this all works out for you.

[SDChrgrboy2]

No bank charges 9 OD's in one day, there is a max that they can charge which is usually around 4 or 5

[fishbjc]

No bank charges 9 OD's in one day, there is a max that they can charge which is usually around 4 or 5

I'd like to read the law stating above.  I'd like to be able to go back to my bank and show them that law.  I just checked and was hit with SEVEN today...two will be from pending debits.

[Anonymous]

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@SDChrgrboy2 wrote:

No bank charges 9 OD's in one day, there is a max that they can charge which is usually around 4 or 5

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I work for a regional bank in the northeast and yes they can and will charge 9 ODs in one day if you rack them up.

CB

[fishbjc]

I just received a call from my branch's manager....they are charging me for SIX TODAY and, of course, the TWO incoming debits.  The bank PAID everything (they were all debits) except for the $600, which was processed as a check.

Hopefully, NFCU will follow through and refund my $$$. 

[lkcrew426]

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@Anonymous wrote:

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@SDChrgrboy2 wrote:

No bank charges 9 OD's in one day, there is a max that they can charge which is usually around 4 or 5

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I work for a regional bank in the northeast and yes they can and will charge 9 ODs in one day if you rack them up.

CB

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 Agreed! I work for a bank also, and we have a $1000 OD limit on (most) accounts. We will charge you for each and EVERY transaction that occurs on your bank account . If you have 87 $1.00 transactions - guess what 87 x $18 = $1566 in OD/NSF fees. (and our charge is MUCH lower than most banks)

[fishbjc]

DH said *Don't worry about it, I'll stop at our other bank and pick up cash.  Ah NO.  I want reimbursed for every cent of MY money.  Still, something strange happened as this transaction didn't post for FOUR business days.  I wonder if NFCU had some sort of computer malfunction? 

At least they've been willing to accept responsibility, I'll keep ya posted!