Wells Fargo and the debit card overdraft lawsuit
 

I thought it was nation wide-turns out it's just California, I feel I have good cause to haul them into small claims court in Texas-likewise.

http://www.oregonlive.com/business/index.ssf/2010/08/judge_orders_wells_fargo_to_pa.html

I always thought transactions are ordered by time of the transaction..... I keep a buffer in my checking account mostly due to forgetfulness, but overdraft charge generation by reordering transactions just sounds like BS.

I'm sure I've had that happen. When I do lose track of my checking account balance, I usually do so in a spectacular manner. When I have done it, the bank seems to order the transactions (from the same day) in such a way that the number of overdraft items is maximized. I'm sure they view these fees as a revenue stream. When I'm paying attention, I try to keep a healthy buffer in my checking account.

Their new Modified angle
 

That sounds pretty sleazy, but I assume other banks use the same tricks. I opted out of "overdraft protection" when the rules were changed.

Well you automatically have opted out unless you tell a bank personell you are "opting in" now-after the change in regulation ( that only a particular political party has brought about )-only a dimbulb would.

I immediately went to my banks website when the regulations changed; I never looked into the default.

The slime bag lawyer for Wells stood there and flat out LIED. Said they were only providing a "Service" to their customers that they wanted. Every time I was hit with one I went in and asked Why They were not denying the transaction at the point of sale if the funds were not there--Like they are now forced to do-instead of screwing their customers.
Well since wells thinks (still that this is respectable buisness and appealed) -trying to keep the averice angle still happening for them- and there will not be consequences for them-They wont have my money to make money off of.
Plus having to pay their guy to square off with me in JP court -And I will do it :)even if its only to the amount of $300.00 since the Texas AG is not taking care of buisness.

I told my bank to deny service to me if I don't have the funds and have it in writing with a signature :cool:

Whether it's worth something I don't know. I'd rather have my card declined. I only write checks when I put the cash in.

Down here they used to have a scheme where by debits were processed at the time of the transaction, deposits were not processed till the next night. You could walk into the bank, deposit say 50 gorillas in cash. Then walk down the street, write a check for $20k & if the guy took it to the bank that day, it would bounce. Just one big case of we have your money but we want to play with it for a while first.

foot note; 1 gorilla = $1k

Funny how bank FEE's are their profit center, wasn't it supposed to be the spread between borrowing and loaning ???

Remember when ATM's were 'cost savers' vs their current role as 'profit centers'.

Heard about how interestingly the FEE's the airlines have added roughly equates to their profits ??

Well I don't think we've paid more than a few dollars total in ATM fee's ever, was lucky the ATM in the complex's I worked in was from MY bank, and plan ahead a bit.

Same with overdraft fee's, we have a line of credit that kicks in when the account goes negative, I don't keep much money in there and our paydays don't always align with bill dates. So we may pay a bit of interest, but I can usually pay it off quickly and keep that to a minimum.

Then of course the politician (don't remember specifically) that was going to investigate the airlines and their nickel and diming us fee's.
How about the government and their fee's, they don't raise taxes, but they add 27 new fee's. Gee what's the difference.

So the business's are just following along with what the government showed them.

I hate this crap. I have a complementary overdraft line on my personal checking account and just got a $25k one on my business checking.

Hoping I can avoid this BS in the future.

I just put everything on my AMEX card and pay it off at the end of the month.

Join a Credit Union. You will never know the difference from a bank.

Pooka has the simple solution
 

You Ain't gonna change the way Commercial "Banksters" ROB their customers.
They used to take a Chunk of their ill gotten gains and corrupt your elected
officials to "Let them Help their customers" ...Now since the IDIOTS @ S.C.
made the "RULING" it's perfectly LEGAL for the Banks to bribe Congress.

All commercial Banks have the software for "Revenue Stream Improvement"
(They take your deposit and put it the circular file as long as legally allowed,
before they credit it to your account,in hopes you'll "Overdraft".)

F**K the Commercial Banks,Take all your Hard Earned Money and go to the
Local Credit Union.(They work FOR YOU)

I LOVE my credit union's motto : "We NEVER forget It's YOUR Money".

Credit Unions ROCK. I am with a bank now, but considering switching back.