At My Bank, NSF = Non-Sufficient Friendliness
by F.W.
I've had a checking account at a Compass Bank branch since November 2004. The branch's staff have always been rather cold and indifferent (except for a young puppy named Christopher). But I never had any real problems until this May.
Then I ran afoul of a classic bank trick: post debits before deposits on the same day, and ding the customer for multiple "Non-Sufficient Funds" fees (at $36 each!) on trifling debit card transactions. Four debits totalling less than $10 resulted in $144 worth of NSF fees.
I regularly pass a different Compass branch. I got in the habit of making my deposits there, and found the staff much more congenial. So I thought I might have better luck negotiating my way out of these NSF fees in there. I was right.
J.R., the branch manager, sat me down in his office and fetched me coffee. Then he did the dialing and holding to talk to my branch. The customer service manager there would only "forgive" one NSF fee as a "one-time courtesy." I pointed out that none of the debits would have bounced if the damned deposit had been credited first. J.R. went up the chain of command for me -- and I wasn't even his customer! We got another NSF fee "forgiven," but that was the best he could do. It was a lot more than "my" branch did.
So I opened a new account at J.R.'s branch before I left.
Last Friday, on my way to the pool hall, I took a four-figure check to my old branch, intending to deposit it in my new account at J.R.'s branch. The check was from a well-known publishing firm. I had deposited about 25 of this firm's checks in my old Compass account since I opened it, and the funds were always available the following business day. But not this time.
"I'm sorry, sir," said the drive-up teller, "I'm going to have to place an 11-day hold on this item."
That was a problem, since I'd mailed two hefty checks on my way to the drive-up window.
So I took my deposit back and went inside to speak with the branch manager, whose name and face had changed since I last saw him.
"Rodney" told me 11-day holds were standard on out-of-state checks. I told him to check my account history and he would find that he was wrong, at least in my case. His branch had credited a deposit from the same firm overnight, just four weeks ago.
Then Rodney said it was because my account (at J.R.'s branch) was new. I said no problem, let's deposit it in my old account at this branch and post it tomorrow, just like we've done for nearly two years.
Rodney said whoever had been doing that -- "and I'm gonna find out who it is" -- shouldn't have, and he would have to treat me the same as anyone else from now.
"So you intend to treat a well-established customer the same as any stranger who walks in off the street today?" I asked him.
"Now I didn't say that. Don't go twisting my words," he replied.
I really wanted to twist something else of his, but I moved on.
I asked Rodney to call J.R., my new branch manager, and see if he would accommodate me. So Rodney called J.R.'s office and cell phone, but got only voicemail. I told Rodney I had to go but I'd call him in an hour. I left my check and deposit slip on his desk.
Ninety minutes and three phone calls later, I got Rodney on the phone.
"J.R. wouldn't do it, either," he said.
So I returned to Rodney's branch and picked up my deposit.
Monday morning, I drove down to J.R.'s branch and explained the whole thing to him.
"So, you've deposited checks from this firm before?" he asked.
"About 12 checks worth over $20,000 in the past year, and there's never been a problem with any of them," I replied.
J.R. clicks his mouse and keyboard for a few seconds, and pulls up an image of the last such check I'd deposited, four weeks ago.
"Well, since this is the same outfit and that check cleared, there's no problem with posting this one to your account overnight," he said. "Rodney didn't tell me about that part."
"Thank you, J.R.," I beamed.
J.R. had even filled out the deposit slip and left me sitting comfily in his office while he made the deposit. When he returned with my receipt, I just had to ask him: "How come you're such a nice, helpful guy and Rodney's such a dick?"
"Now there's one more favor you can do for me," I said, "if you don't mind...."
"What's that?"
"Can you close my account at Rodney's branch from here?"
"Oh, sure!" It was done in five seconds.
"I really appreciate you, J.R."
I really despise you, Rodney.
>:-(
The author of this entry prefers to remain anonymous.
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Comments
I like to check my bank account balance and activities often online. Just this week I carefully monitored my activities and balance so I would have enough money to pay the mortgage and still have enough for food, gas and car repairs that were needed. All was fine. The check I wrote out for the mechanic cleared leaving me with still $200 before making my next deposits for the mortgage payment.
Suddenly I check Sunday morning and the whole page of activity had changed! I don't know how they did it, but now they were saying that there were non sufficient funds for the mechanic's check plus two more non sufficient funds for small withdrawals... one for $10. and one for $20. I'm so confused! This kind of thing happens quite often to me. I've noticed that every weekend, the statements are totally incomplete and it's impossible to keep track. Like the gas my husband bought for $40 that appeared yesterday and somehow mysteriously disappeared today. Does anyone know what I can do about this? I know for a fact that the employees are taught to manipulate peoples accounts in order to cause more bounced checks. I had a friend who worked in a bank and she told me how they are taught to clear the debits before the deposits. This is totally unfair and something needs to be done.
Posted by: Rachel | November 18, 2007 12:12 PM
I have had my fair share of bank frustrations over the years - bounced cheques because they processed them out of order, the time my credit cards were suspended when I was on holiday in Spain because "someone was putting charges on them from Spain", and so on. But in the end it all depends upon the manager of the branch you deal with, and these occasional errors were cleared up promptly.
The branch manager I dealt with was great, and could organise whatever I needed at short notice from anywhere in the world. Over time all of my financial affairs had gravitated to that bank, including mortgages, insurance, brokerage etc. Eventually the manager called me and asked, seeing as I was such a good customer with a wide range of products, whether I could give them a "testimonial quote" as to why I like banking with them. I was happy to oblige him, albeit a little surprised when my name and glowing quote was used in their nationally distributed brochures and placed in every branch.
Soon after that this manager moved on, and I had to deal with the new idiot. Again, I can accept mistakes happen, but only if someone is prepared to correct them.
One day a $10,000 debit was made to my savings account by mistake. I noticed it the next day, and it was promptly fixed. But that debit had put me into deficit for a day and the bank dishonoured all my bill payments (why didn't they dishonour the debit??), along with charging multiple fees. One of these was the insurance on my house, and the insurance company, a subsidiary of the bank, immediately rang the bank to say my house may be uninsured which was in breach of the mortgage conditions. This led to my mortgage account being suspended.
At this point the bank manager should have stepped in and fixed it by hand. Instead she quoted "policy" that her hands were tied and she could not possibly waive all of these fees. She also claimed she had no authority with the related insurance company and could not fix things there.
As we sat in her office and argued the stupidity of it she sarcastically offered me her phone to check with head office myself. I took great pleasure in dialing head office, then asking to be put through to the MARKETING department and asking them to withdraw all of their brochures nationally as I considered my previous recommendation to be no longer valid.
Watching the blood drain from her face as she realised what this would do to her name in head office, she walked out to the teller and had the whole thing fixed in about ten minutes.
I actually get very good service now, but unfortunately it is based upon her fear, as the trust element went when she spun the line about "policy". Even the new branch staff know me before I arrive as "the guy in the brochure that the boss is scared of".
I thought you might appreciate a "little win", but I dread to think how insane it can all get when you are not in the fortunate position that I was.
Posted by: Chris | November 22, 2007 11:39 PM
I have set every single bill for automatic payments every month. I have two credit cards that I am carrying a balance because they are always sending me offers in the mail for 0%. It's free money, so I used it last summer to pay for the floor and moving or whatever. Plus I do have the money to pay them off, but right now it is locked in a CD and I don't want to break the lock on the CD, because they charge you a couple hundred dollars.
It is Wells Fargo Bank. They were set up to be paid just a little bit more than the minimum payment every month on the 15th. I'll let you know, I owe them almost $2,000, and they only want 1%, which is $19 or $20. Well, last month, for the first time ever, they changed the due date to the 14th unlike the month before due on the 19th. I wasn't paying attention and didn't change my payment. They still got their money as usual on the 15th and charged me a $39 late fee. So I called them up and they understood it, and CREDITED the 39 dollars back on my card. (Thank you).
Yesterday I got the bill in the mail saying I am past due and I've been charged a $39 late fee. $112 is due immediately.
First I logged into my bank and sure enough, I had paid the account. It was due by the 17th, so I wasn't late. So I called them. Did they get last month's payment? Yes, but I didn't pay the minimum due. It's $59 and I only paid $20. Remember I said everything was set up on auto pay?
Apparently, a credit is not considered a payment (since when?) and I didn't PAY the full amount.
I have never been so ugly to someone on the phone. I almost cursed her. When my husband came home, he got so mad too, and he called and canceled the card, after they gave him a run-around and transfered back into the answer queue. But now I have to come up with $1,978 to be paid right now. And because I was late 2 months in a row (even though everything comes out on the 15th like clockwork), I am in default, I have lost the 0% interest rate, and they have no grace period.
I am trying to do everything right here, and sometimes I just can't get ahead. Is it fair? Is it even legal?
Posted by: Christina, Tennessee | March 23, 2008 2:10 PM