Bad banks.. wierd credit and I didnt sign for it
Date: Tue, 01/10/2006 - 11:15
I had a checking account with Whittaker Bank in Richmond, Kentucky. Everything went really great for about 6 months.
Ten I noticed that on my statements I had a balance, then I han an available balance. When I called the bank to ask about it I was informed that the money in my account was my money and that I had made several errors when making deposits. I am very aware that math is not my best subject. But I didnt think it was that bad. I had over $700.00 dollars in my account I was told. It wasnt a loan nor was it a credit. I checked with them about this for over 2 months. each time they printed me off a statment and showed where I had made deposits. In one instance I had made a deposit off $1800.00, but I knew that money had left as soon as it was put in. I had already wrote checkes and was ready to mail them.
When I got tired of the run around and was ready to close my account, I got a letter in the mail that I had an overdraft charge of $800.00.
I was floored. After I closed my account I learned that after 6 months, with no bounced checks and regular depostits, Whittaker Bank, gives you an $800.00 line of credit. Now you cannot request the credit, you dont sign any application papers or anything, they just deposit it into your account.
The only thing is that if you dont want this extra money, you can sign a peice of paper asking the bank to remove the money from your account.
The difference is is that the available balance is the money that they have given you, and your balance is what you actually have. I had always thought that Available balance and your balance was just the difference in what checks had cleared and what checks were pending. I was wrong.
I think people need to be extra careful about things like that. I guess its good to have overdraft coverage, but for me I would just rather pay the bank the fee and the money for the bounced check, than have to deal with that all over again.
Ten I noticed that on my statements I had a balance, then I han an available balance. When I called the bank to ask about it I was informed that the money in my account was my money and that I had made several errors when making deposits. I am very aware that math is not my best subject. But I didnt think it was that bad. I had over $700.00 dollars in my account I was told. It wasnt a loan nor was it a credit. I checked with them about this for over 2 months. each time they printed me off a statment and showed where I had made deposits. In one instance I had made a deposit off $1800.00, but I knew that money had left as soon as it was put in. I had already wrote checkes and was ready to mail them.
When I got tired of the run around and was ready to close my account, I got a letter in the mail that I had an overdraft charge of $800.00.
I was floored. After I closed my account I learned that after 6 months, with no bounced checks and regular depostits, Whittaker Bank, gives you an $800.00 line of credit. Now you cannot request the credit, you dont sign any application papers or anything, they just deposit it into your account.
The only thing is that if you dont want this extra money, you can sign a peice of paper asking the bank to remove the money from your account.
The difference is is that the available balance is the money that they have given you, and your balance is what you actually have. I had always thought that Available balance and your balance was just the difference in what checks had cleared and what checks were pending. I was wrong.
I think people need to be extra careful about things like that. I guess its good to have overdraft coverage, but for me I would just rather pay the bank the fee and the money for the bounced check, than have to deal with that all over again.
Hmmm???read your story. You had some confusion in understand
Hmmm???read your story. You had some confusion in understanding their strategy. The bank should have cleared all your queries properly. Then you would not have gone through this situation.
Generally the credit system and all the policies are stated in the agreement paper. Most people ignore these lines and just sign the agreement. If you had read the agreement at the very beginning, perhaps you could avoid all this mess.
