US Bank - US Bank Overdraft

Posted on Thursday, January 15th, 2009 at 1:44pm CST by 63a89f23

Product: Checking Acct

Company: US Bank

Location: US


Category: Other

So there is 600 dollars in my account and 5 pending transactions on Monday.

I rent a car on Wed. and they authorize for more than the available balance.

3 transactions go through Thursday and accrue 3 overdraft charges that amount to over 100 dollars in fees... even though the actual transactions occurred days before the car rental and even as I write this, there is enough money to cover them as the car rental and the other 2 pending transactions from before the car rental still have not cleared. In the end I anticipate that because the car rental was so cheap but they authorized for so much more than it actually costed, I'm going to have over 200 dollars in fees but my actual balance will never have actually gone into the negatives EVEN AFTER THE FEES.

So thats right, at the end of the day there is enough in my account to cover the actual transactions AND the fees that are apparently being charged because "there wasn't enough money" WITHOUT ever actually going into the negatives.


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f609a0c0, 2009-06-29, 12:11AM CDT

If you had sufficient balance to cover all the checks and debts but were still charged overdraft fees, you should dispute the overdraft fees in accordance to Regulation E and state law of your state. You should put your dispute in writing. Banks are required to respond to your dispute. If this does not work, contact a consumer law attorney, as it is appropriate, as some will take your case on a contingency basis.

Kenneth -

Chicago Lawyer

6c00a2b6, 2009-09-01, 04:24PM CDT

If companies put a hold on your account like hotels/car rental companies do then that money is "not available". The bank assumes this money is going to be taken from your account. Don't ever look at your current balance...always look at your AVAILABLE balance. Also...the banks don't decide when transactions go through. If you write a check it can go through immediately or can take a few days depending on who you are writing the check to.

36f88884, 2011-05-16, 02:52AM CDT

I experienced the same exact thing, it's a scam by the banks under the 'guise' of overdraft coverage. It's ridiculous and just another way the consumer is getting screwed. Not only do you have to have the money cover your transactions you have to have money to cover any money that gets held even though the final charges has not gone through... So you make 5 pending transactions and then someone holds a bunch of money then you make a debit transaction and your balance minus what is held is less then the transactions then you charged fees... now you can't touch the amount being held but the bank can reduce that amt in your with fees so when those pending five transactions come through you no longer have the balance to cover to the transactions that was being originally held which caused you to incur the first nsf fees.

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