ComplaintsforNational Bank

• Initial Complaint

  08/17/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have been banking with The national Bank of Blacksburg for about 1-2 years with their free checking account. My overdraft protection privileges were discontinued after banking with them for a couple of months. No big deal. Well I receive direct deposit and started noticing that certain transactions they would overdraft my account and charge me the overdraft fee even though I didn't have overdraft protection. Then to eliminate this issue I began transferring my paychecks to cash app once the ACH transfer has been made and not even using my national bank card or account to prevent the overdraft issues. They stopped but I then began seeing a $75 processing fee for transactions that would be declined because of not having enough funds. I have never been informed of this few when creating the account, nor have I ever heard of any bank charging this much when the standard overdraft amount is $35 or so. This bank made my account over $300 in the negative in less than 2 weeks by these transaction charges and then when my payroll check was ACH transferred they got their money and then closed my account and Everytime I contact them about how all of this is unfair and essentially stealing from me, they state that it is in their policy. I looked over their policy again online and nowhere does it state a $75 processing fee anywhere! It's the same as the overdraft charge fee for returned checks but none of the processing fees were for returned checks because I never used checks. This bank got hundreds of dollars from me that should have never been able to be charged for to begin with nor was I even notified of a $75 processing fee on transactions with a free checking account.

  Business response

  09/22/2023

  National Bank does not charge any fee in the amount of $75. An Overdraft Item Charge in the amount of $36 is assessed if an item is presented to an account and the available balance in the account is not sufficient to cover the item. No more than six Overdraft Item Charges can be assessed on a  consumer’s account per business day. This fee is disclosed on our website under Rates and Fees and also on documentation provided to the customer at account opening. As of 8/1/2023, National Bank does not charge overdraft fees for transactions that are $5 or less or when a transaction causes an account balance to be overdrawn by $5 or less.   The customer’s account became overdrawn and items continued to be presented for payment incurring overdraft item charges.  Multiple unsuccessful attempts by mail and by phone were made to contact the customer to discuss the overdraft.  After the account was overdrawn 60 days, the account was charged off and sent to collections. 

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