I discovered last week that my bank card was not being accepted anywhere, despite having funds in my checking account. I called the number given to me on an ATM receipt. I was told that there was an "alert" on my card; the person helping me could not tell me what the alert was about, nor could he fix the alert.
I visited my local branch last Friday just before their closing time. Chris, who was helping me, said that he had found the problem, but that it was too late in the evening to contact the appropriate person to fix it. He said that he would have it fixed on Saturday morning. On Sunday I tried to use my card.....nada.
This afternoon, I called the branch. Chris passed me to Marybelle, whom he said was the person who put this "alert" on the card and was the only one who could take the alert off. Marybelle told me that the alert was due to the frequency of my checking account being overdrawn, and that she was not going to remove it until my account had remained positive for at least ninety days. This was no good.
I told her that I understood their preventative approach to this issue, but that it made no logical sense. First of all, as I explained to her, even though my account balance is frequently overdrawn, direct payroll deposits are made into my account twice per month, which results in a positive balance.
Secondly, I pointed out that because of the overdrawn balance, I have paid over $900 in overdraft fees since I opened the account. This is not money that I get back when my account is positive. This is money that the bank keeps, which I find reasonable and have always understood. Let me explain.
Since the free checking boom began several years ago, banks no longer receive the funds that were previously charged for checking accounts. These days, those funds are replaced by outrageous fees, especially the overdraft fees they charge for every transaction that results in a negative balance.
Therefore, they should not block me from using my bank card because I often have a negative balance. No. Instead, they should welcome my overdrawn account as they would a money tree. After a brief pause, Marybelle agreed to remove the alert from my card (despite having already refused) and "let me off with a warning".
Thanks for the HASSLE, Marybelle! What's left in your wallet?
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1 comment:
WOW...good for you boy. I don't think most banks would have done that for you. They put those types of alerts on accountholders who pose a potential threat...a threat of one day overdrawing your account by millions and leaving them high and dry. The good thing is...it comes down to how comfortable the bank employee feels with the transaction and if they are willing to take responsibility for the situation if it goes south. Good for you...you stood your ground and made her cave...my little boy is growing into a man. BTW...you'd probably be a richer man if you didn't overdraw your account so much. Balance Balance Balance.
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