Dec. 9, 2000
Three months ago, I called the IRS to get a couple of weeks extension to the date they would withdraw $100 from my checking account. I was told (by someone who identified themselves only with a long number spoken quickly) that the extension had been granted. The IRS then not only took the money out of my account, but did so two days early. There wasn't enough money in the account because I wasn't expecting the withdrawal, and had already spent the money on other necessary bills. The bank paid the IRS, but charged my account $22. Then two more checks came in, and for each check my account was charged another $22. Then the bank charged me another $10 for each monthly billing period for which I had overdrafts. This all happened at the end of one period and the beginning of the next, so I was penalized for both periods. That's $86 in bank fees because the IRS didn't keep their promise. It costs banks an average of $1 to handle an insufficient funds transaction. I called the IRS and explained the havoc they had caused in my account. They said the person who gave me the extension made a mistake, but they refused to correct it or pay my bank fees. I went to the bank's architectural edifice of intimidation and looked for Customer Service. All I found was a "Customer Service" sign and someone behind the counter with no authority.
As a result of this, I was three weeks late paying my rent and was given a one day notice of eviction or removal by the Justice of the Peace. After I found this notice in my door, I had to lay down on the floor to keep from passing out. I was able to borrow the money from friends to pay my rent plus the $55 late fee. Thanks to these friends, I'm not homeless now.
Friday, I got another notice from the bank that I was overdrawn. I forgot to write down a debit of $11.01 for gas. A check hit my bank with $3.01 in my account less than needed. This, of course, caused the bank to take out $22, causing yet another check to also be insufficient. Plus the one more monthly insufficient fee. Total damage: $64.
Why can't the banks at least delay the penalty fees for two weeks so the fees don't cause yet more checks to bounce? Two weeks would allow some time for defensive action on my part. I have been treated by the bank like this several times, and it leaves me feeling violated, robbed, and living in fear of it happening again. What other type of business can treat their "customers" like this without losing them? I would change banks, but I know I wouldn't be treated any better at any other bank.
Jack Seay