Problems with local Bank (credit, showing, job)

[tprejean]

Hi all,

I am currently fighting what I feel like is a losing battle with bank. In a nutshell, my husband gets paid montly from his job, so every month on or around the first, for over a year, we have deposited his paycheck. We did this, as we normally do, this past Monday. He received a receipt and went on his way. Well, I tried to get money out of the bank today, only for the ATM to tell me that I had no money. So, I opened up my account to see (to my utter horror!) that I was overdrawn $1200 and had accumulated $700 in insufficient fees in the last two days. When I called the bank, they told me that they placed a hold on my husband's check - something they had never done before. When I asked why, she told me that it is up to their discretion to place a hold on any deposits based on my average monthly balance over the last 3 months. They didn't tell me what the average had to be or anything. She offered to release the hold on the check (which was to be held until the 9th) and to refund $70 in fees. I think this is outrageous and unethical behavior on their part, especially considering they did not inform us at all about the hold. I was wondering if anyone else has had problems with bank locally (I can read lots of horror stories on Google) and if anyone has any suggestions for me on how I can go about getting my money back! The check was enough to cover 10 times the amount of charges that have come through in the last two days - the money is showing in my account, just not available. I appreciate any suggestions!
Thanks so much!

[shellytc]

they should never hold a payroll check, and most banks will not. I would be furious and go right to the top..... and keep going until you get those fee's reimbursed.

shelly

[Lilybeans]

The first thing you should do is go see the branch manager in person.

[A2Mich]

Does his employer offer direct deposit? If so, that might eliminate that problem for good in the future...

[dk22]

Advice for you. Only bank with Credit Unions and use direct deposit like A2Mich. Stop writing checks and mailing them. You know how to use a computer and save yourself some time and money.

[cmj_fla]

Did you deposit the check through the ATM? The same thing happened to me with Bank of America. They said that if it's put in the ATM they have the discretion to hold it until it clears but told me that if I give it to a teller they will tell me if it will be put on hold but only if I ask. However, Bank of America will refunded all the NSF charges due to the held check if it clears. Like others have said, go the branch manager of the office that you opened your account and plead your case. Don't take no for an answer and let them know that this is not how other banks are run and nor should they be. Good Luck!

[Wilshire81182]

I had problems with Washington Mutual who made numerous accounting errors on my accounts and I have since switched to Bank of America. At first they put some of my deposits on hold because the account was new, but have since do not. It is always easier to set a direct deposit too. They do not typically hold those funds.

[Keeper]

I agree go to the branch mgr and higher if necessary. Never take the word of a person on the phone.. They don't have the power to rectify a large sum. Ask for their supervisor/manager.. If they have never put a hold on the check before then they shouldn't have put a hold on it this time. Having worked in a bank once upon a time.. it could be it was a new teller or a teller who was busy and didn't deposit it as a payroll check. I would also demand a letter stating it was a bank error to give to the companies where you bounced checks.

If the company doesn't offer direct deposit, just make sure your DH tells them it is a payroll check and ask when funds will be available.

[tprejean]

Hey there,

Thank you everyone for your advice on this issue. I was FINALLY able to get it resolved and am happy to report that I got all of my money back! They did actually return only 2 transactions, and I am just going to suck up those charges with those companies. I spoke to the branch manager, who was really no help - she told me the reason for the hold was based on my average monthly/daily balance. I then called to find out where I could contact the highest person I could speak to in "customer service." I was given the address for the office of the president - they won't give out the number (curious). Anyway, I then spoke to the area branch manager's assistant - who was the one to refund my money. She told me the reason for the hold was because my husband's paycheck is drawn on an out-of-state bank. Interesting, since they have never held it before. Two days later, I got a letter in the mail stating that my deposit was being held, but, in the "reason" box, there was no explanation. It sounds to me like the teller may have made a mistake and they were just looking for any excuse to justify it. Whatever the issue was, I know for certain at this time that I am going to go back to my company's credit union. It is an out-of-state company which makes it harder to bank with, but I think that anything is better than Suntrust. My advice to anyone who banks with Suntrust is to be careful, be observant, and question anything that you don't feel is right. This bank "error" could have really thrown us under the bus had I not been persistant with the issue. Thanks again for all of the advice!

[Keeper]

Glad everything worked out for you. Here is a hint..check the website you can find higher up names there, it may take some searching but they are listed there. Name dropping never hurts either.