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A number of class actions have taken issue recently with the way banks charge overdraft (OD) fees. The complaint for this class action alleges that First Savings Bank charges OD fees for transactions that do not actually overdraw accounts. The complaint alleges, “This practice works to catch accountholders in an increasingly devastating cycle of bank fees.”

Building with RBC Sign on It

A class action against RBC Bank (USA) is being settled by PNC Bank, NA, its successor-in-interest after the two banks merged. The complaint contended that RBC posted debit card transactions in the order of the highest amount to the lowest, and that this resulted in customers being charged more overdraft fees. 

Bank of America Sign in Front of Location

Banks don’t provide overdraft coverage for any and all overdrafts customers create; they have rules, and a certain amount of discretion. Bank of America, NA and Bank of America Corporation instituted new rules on overdrafts, alleges the complaint for this class action, and then failed to abide by them.

Vibrant Credit Union Logo

The complaint for this class action makes two charges against Vibrant Credit Union: that it charges overdraft fees for transactions that do not overdraw accounts, and that it charges more than one nonsufficient funds (NSF) fee on a single item.

DCU Logo

An auto-pay bill comes due in your bank account and your bank refuses the transaction because you don’t have enough money. How many non-sufficient funds (NSF) fees should you be charged for this? Should you be charged an NSF fee now and an overdraft (OD) fee later? If your bank is Digital Federal Credit Union (DCU), you might find yourself paying more than you thought, as the bank decides, on its own and without notice to you, to retry the transaction.

First County Bank Logo

If your bank has already refused an item and charged you an fee for non-sufficient funds (NSF fee), should it later turn around and, without any second request from you, accept the same item and charge you a fee for an overdraft? The complaint for this class action alleges that First County both charges multiple NSF fees on a single item and sometimes charges both an NSF fee and an overdraft fee on the same item.

TD Bank Logo

An auto-pay bill comes due in your account, and the bank refuses the transaction because you don’t have enough money to pay it. How many non-sufficient funds (NSF) fees should you be charged for this? One should be enough, right? But if your bank is TD Bank, you might find yourself charged two or three such fees in the coming days for the same auto-payment item.

Citizens Bank Logo

Many banks these days charge non-sufficient funds (NSF) fees if you don’t have enough money in your account for an auto-pay item when it comes due. Citizens Bank also does this. But how many fees can they charge on that item? Only one? Or will you be surprised in the coming days to find two or even three NSF fees assessed to your Citizens Bank account for the same item? 

Flagstar Bank Logo

What happens when an auto-pay bill comes due in your Flagstar Bank account—say, your auto loan payment or Internet service bill—and there’s not enough money to cover the transaction? If Flagstar refuses the transaction, it will charge you a non-sufficient funds (NSF) fee. But what if, in the following days, you’re charged another such fee, and maybe a third one? And you haven’t put more money in your account or requested that the transaction be tried again? Is this fair?

Santander Bank Logo

An auto-pay bill comes due in your bank account and your bank refuses the transaction because you don’t have enough money in the account. How many non-sufficient funds (NSF) fees should you be charged for this? One should be enough, right? But if your bank is Santander Bank, NA, you might find yourself charged two or even more in the coming days, as the bank decides, on its own and without notice to you, to retry the transaction.

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