Citibank Overdraft Fee Scam Caught Red Handed

[MrYoureajerk]

3:29 No Face Lol...But Citibank Fucked Me & Charged Me Overdraft Fees Now I Hav No Money 2 Repay Dem & I Hope They Dont Shut Down My Account Or Add More Fees =(

[Richmunnich]

@MrYoureajerk they'll probably do both

[ccam96]

I'm done with Citibank. I'm going to try to go bank free as much as possible. Thanks for the MoneyPak idea Rich.

[ccam96]

Change to a regional or local bank. Credit unions are fantastic. Get rid of Citibank.. they are supported by taxpayer dollars via Fed giveaways. They shouldn't even be allowed to charge fee's to taxpayers after being bailed out by us. They are thieves!

[Richmunnich]

@ccam96 I use MoneyPak now for the bills I cannot pay cash for.

[ccam96]

I just had a situation where I had a positive balance on July 5th end of business which included all debit authorizations and payments. Today, Citibank charged me a $37 fee and then returned my insurance payment. The payment was reflected on my balance as of July 1st and already deducted from my balance. As of July 6th, I magically was told that it went negative even though a deposit came in early in the morning. End of day 2 am it's positive... deposit goes in early July 6th. What the hell?

[Richmunnich]

@ccam96 That was the general routine with Citibank. They used the automatic debit on the line of credit I had called "bounce reserve". They changed the due date when it was convenient for them to assess a fee. Most of the time it involved putting the account into overdraft and returning debits. They ran up bounce reserve from a zero balance to $750 in a matter of 4 months and then doubled over bounce fees, you know charged fees upon fees. They moved posting dates too.

[burninauthor]

you sir should read the client manual and learn how checking plus works. she's absolutely correct and unfortunately not all details could be explained at account opening so yes these things occur and people such as yourself find them out as they encounter them, and yes i work at cii

[Richmunnich]

your attitude sir is exactly why I closed my account there at citibank

[rparis1022]

Actually, you probably closed your account out of a fit of anger that you have at yourself for not being able to balance a checkbook. You'de probably have more money if you quit smoking. I love how detailed with the name, time, and what you spoke about with the citibank representatives. If you put in 1/2 of the effort to balance BALANCE your checkbook, you would probably never EVER run into this problem. Floating funds does not work anymore.

Your account was suspended for a month? LOL.

[Richmunnich]

Not true! I used their online banking service. They were manipulating the dates on the automatic drafts. So yes I did close that account, it just got too expensive. You are very right sir there is no way to float any funds with online banking but there is no way I am going to allow them to charge an overdraft fee on a fee they are drafting to my account after the money is gone. Does that make sense? Well, I also found out there are no rules or laws against it.

[Richmunnich]

By the way I only earn about 12k per year.

[Richmunnich]

I made more money when I was a smart-ass teenager like you.

[rparis1022]

You have to remember that when you swipe your debt card, there is the vendor, VISA, AND YOUR BANK. Your bank will NOT send out funds out of your account until the VENDOR and VISA both have the right paperwork to release funds. That takes a LONG time... write it in your ledger book.

[Denomolise]

@rparis1022 I'm betting you work for a bank or you are just clueless. US banks made about $11,000,000,000 in overdraft fees in 2007, they have made 41,000,000,000 in 2009. Banks are always finding new ways to put people in overdraft.

[rparis1022]

I am finding ways to circumvent getting it in the ass by banks.. I use my credit card and pay it off at the end of the month. =-) Builds credit and i CANT OD!

[cedarpose]

most people aren't as hands on when they get casually screwed by their banks. the lady on the phone sounds like shes scared of someone who knows what they are talking about. shes not the bad guy the system is the error

[rparis1022]

its not casually screwed. I got hit with those yucky fees and learned my lesson the first time. DONT PEE ON THE ELECTRIC FENCE!

[Richmunnich]

Citibank has launched a full investigation into all of this. So we'll see what happens.

[Johnny1969]

shitibank

[Richmunnich]

thats a pretty popular title there

[PerpetualTwilight9]

@Johnny1969

Citibank is great, you'd better watchout for the SHIT banks, like B of A and CHASE

[FASpitfire]

Wow man, that sucks!

[Richmunnich]

you betcha

[Richmunnich]

thanks Joe :o)

[oWHONERSo]

Could you imagine how many people AREN'T as hands on with their accounts that get screwed all the time?

[Richmunnich]

I met this lady because I was watching a CBS news story, you should check it out her video went viral. I faved her.

[Richmunnich]

I sent you a PM with a link to her vid

[oWHONERSo]

Checking it out now!

Thanks!