US Bank...

[WXMotorSports DecalsPartsAccs]

So, today I checked my business account and I have an overdraft. I'm trying to figure out why and I can't so I call the branch and talk to the the Branch Manager and she proceeds to tell me that the check I deposited they held all the funds except for 100.00. I said I didn't realize that it was going to be held and if I did I would of not sent out all the electronic bill pays. She proceeds to tell me that I was told of the policy when I opened the account. I said, sorry, I opened this account in 1995, eleven years ago. Sorry, I can't remember that far back and if it's policy sure would of been nice if the teller would of took the extra 5 seconds to notify me of the policy. Well they won't reverse the charge. Yes, my fault but a customer of 11 years and they can't reverse the charge? IMO poor customer service.

 

[Michael Lighthall]

Sorry to hear about that. My bank will hold a check for 3 or 5 days depending on the check. But they don't hold paychecks. I'm surprised about the all but $100. That's a little odd.

 

[Larry Gamble]

Keep asking for a supervisor until you get the answer you want. Banks are desparate to keep good customers. Threaten to pull your account by telling them if you've been a happy customer all these years and this should be forgiven if they value your business. Has it always been US Bank or were some mergers? Of course, this only works if you're really a good customer.



My local bank used to hold my checks from a second (out of state) account until I had a short talk with the branch manager. Now, they don't hold any of those checks.



Here is Wisconsin, the bank competition is so fierce they will give you money to open an account. I just opened savings accounts for my kids because they offered $25 bucks if you do. I've heard of other places offering $100 if you switch and set up direct deposit.



Good luck!

 

[Richard L]

It sounds like that bank doesn't want your money or your business.



My bank just converted our checking account to an interest bearing checking account paying 4.21% interest, with overdraft protection, and no service charges regardless of the number of checks we write. The only restriction is that we must use our Debit card at least 10 times per month, and I must download my monthly statement online instead of getting a printed statement mailed to my house. The do send me an email when my statement is ready for downloading. The even pay any other bank's ATM charges (I only used that once and they paid the $3.50 ATM charges)



We have 4 accounts with this same bank. I have my LeverLift Company business account there. My wife has a personal checking account, we have a regular joint checking account, and a joint Money Market Account that pays 4.55%. As long as we keep a total of $1000 in any/all our accounts combined, I never have to pay a service charge on my LeverLift business account, and none of the other accounts have any service charges



There are banks around here that are paying $75-$150 if you open a checking account at their banks. That's what Chase Bank was offering when they opened a new branch here about 2 months ago.



You seriously need to look for another bank that really wants your business and is willing to pay for it.



...Rich

 

[TRACket Paul]

SST, take the time to go to the next level of supervision with your complaint. It's worked for me many times. Their policies are on paper, not in stone. RichardL is quite right about wanting your business, you have a lot choices for banking, elsewhere.

 

[TRACket Paul]

oops.

 

[Dan Miller 3]

SST...Ditto Larry and TRAC P

 

[WXMotorSports DecalsPartsAccs]

Thanks for your feedback guys. I will make another call and if that doesn't work I'll move my business elsewhere.

 

[Dale McMurry]

Take a look at using Ford Money Market account. I have used is for over 12

years and it has been very satisfactory. They are currently paying about 6%.

You can write a check at any time, they also furnish the checks free.

 

[Nelson Atwell]

That policy of holding checks is antiquated. The new banking laws and technology allow for almost immediate transfer of funds. There essentially isn't any float, except for the time it takes for the local store to take their deposit to the bank. In fact, places like Wal-Mart scan your check right at the register and your money comes out of your account immediately. I've even seen one store that hands back the original check to the customer, because once it is scanned, the paper copy is useless to them.

 

[WXMotorSports DecalsPartsAccs]

Good point Nelson. And, it's not like my customer's check was going to bounce they do about 30 Million in business a year.

 

[Casey B]

Rich - What bank do you use? It sounds similar to ours but our bank stopped the interest bearing checking just before I opened the account 3 years ago.

 

[Kevin Palmer]

Easy fix, they reverse the charges due to your loyalty or they will no longer have to worry about you being loyal. Tell them you want to withdraw all of your funds and they will suddenly be able to fix the issue....



How I have done it in the past is to ask them if they will charge me to wire transfer the funds to another account or is it better for me to manually withdraw the funds and deliver the money to my new bank???? Seems they can do anything they want to when THEY want to.

 

[Michael McGrady]

Unless you have over 5,000 bucks in the bank... Most banks won't care if you close the account. They aren't making money off you..... Most banks give 1 or 2 (forgives) a year. I'd take TracIT Paul's advise, and talk to someone else, and be really nice, and sound very sorry...