US Bank Sucks!
OK, so I have an equity line of credit at US Bank on my home which equates to an interest only loan/second mortgage. My goal has been to pay it off as soon as possible and so when I have a significant amount saved, I pay some of it down. Last month I went to my local US Bank office and deposited two checks, one for $8,000.00 and the other for $200.00. I explained that the $8000.00 check was to be paid on the principle of the loan while the $200.00 was for the next automatic withdraw and should be deposited in my checking account.
The clerk deposited the checks and claimed to have made the application of the $8000.00 to the principle, thereby reducing the amount of my total mortgage. She even gave me a new balance that seemed to reflect the applied money.
Today I went in to deposit some money for my next payment and learned that there was nothing due. Asking why, the clerk responded that “oh, you have paid an $8000.00 payment towards future payments so you have paid ahead of schedule”.
- What the crap!!!!!!!!!
That’s not what I asked for and it’s certainly not what I want. I’m not going to deposit $8000.00 and expect it to be eaten up by interest alone. That’s insane. I don’t think that anyone in their right mind would assume that either. They totally messed up and I’m not too sure that it wasn’t intentional. It’s in their best interest that my principle not be paid down so I think they either make it hard to pay down the principle or confusing for the clerks to do it right or outright intentionally did it wrong hoping to get whatever they can from me in interest before the mistake was caught.
- Plain and simple: US Bank Sucks!
So, I’ll be going in on Monday also to try to straighten this mess out. Unbelievable.
My last problem with them was that they were deducting a “penalty” from my account for several months because it was not set up as a having direct deposit. After getting mad at them then over the fact that it was not supposed to be set up that way in the first place, they credited me the full amount of the penalty fees. Again, their mistake. I bet things like this happen a lot and many people either don’t know or don’t fight when they find out about it.
My main worry now is that they now can claim another month of interest on my larger-than-it-should-have-been principle for the last month which will be significantly larger than the interest would have been, had the $8000.00 been applied to the principle a month ago!
One of my friends who also had a similar loan with them also had problems. It seems that they obviously place their own interests above those of the customers they claim to serve.
- Did I say this enough already: US Bank Sucks!
I’d like to tell you it’s better at Wells Fargo. I really don’t know where to turn for good “customer centric” banking. I’ve tried several and they all do sneaky little tricks like this. Really ticks me off. In fact, it’s likely that I will be moving my HELOC to a different bank if Wells Fargo doesn’t get it together fast. Good luck with that.
Comment by Gabriel Gunderson — 8/5/2006 @ 11:27 pm
I just wanted you to know that this isn’t the way that USB does business. It’s not the way employees are trained and I am sure if you speak with the manager in a nice tone you will recieve the answers you are looking for. You will find compliants and issues no matter where you go–it’s the way you react that gives you the reaction that you want. There isn’t a need to abuse employees for honest mistakes. There are always ways to correct the problem.
Comment by Katy Sundry — 8/19/2006 @ 12:01 pm
SunTrust Bank robbs Father after son robbs him
last jan i left the country to Marrie my girfriend and my son took my card that had my id pen for i am disabled and ran up charges that there was no money in the bank to cover, I reported to police when i returned and found out. and the bank charged me outragus fees. i had no money for months from ssi disaility for the bank kept all the SSI $ sent to that account and charged me for not haveing money in the bank because they took to cover his theifts. I was told if i prosicuted him i would not be liable, but nothing ever happen. I am dicusted with Suntrust to cause such outrageuos harm to me that had allready been a vicim of crime the bank robbed me of as much money and more as my son spent when there was no money in the bank over a 1,000 more dollars than the cost of the non-funds he charged. when i went to the bank at one occation the woman there smiled at me like the whole thing was funny. Well i diid not think so. i can not help that my child was such a thief but to spend what i do not have i the bank there was only $50.00 in that account at the time. i can not understand. and to keep charging me and takeing $ that is what i did not have. they kept my disabilty $ and my sons for months while i had noything to pay my bills with or money to buy anything to eat. and i keep them imformed of this. i have not recovered from this time to now. the police could not find my son for 6 months till i found him and has done nothing to him. The secutary at the bank said to me many times if i procicute, my money will be refunded. This has not happened . I think your bank is a bigger theif than my son. i have all the papers from this ordeal and will be pupishing to the wen under search of your banks name. Suntrust. I am disaabled an live on very little and you ppl did not care or work with me in any way. I almost ended up homeless and did not have a decent meal for months, i lived on peanut butter and cream of wheat. Damm you ppl you are not human at Suntrust, i have yet to recover finacially from this.
David B Earl
755 Espanola Ave # 44
Ormond Bch
32174
United States
3866762694
Email Address
ddrfox77@aol.com
Comment by David B Earl — 11/29/2006 @ 2:19 pm
Ths is the most ridiculous email I have ever read! Your son steals your debit card and your ID, and its the Banks fault????????? Your son cleans out your account, and its the Bank’s fault?????? HOw long did your son have your ID and debit card in his possession before you notified the bank? Did you even bother to read the rules and regulations of accounts? You have to report these stolen in a “reasonable” amount of time. When did you learn your ID was missing? I dont know if this email is a joke or not. I have seen better spelling and punctuation from a first grader.
Comment by catherine clarke — 3/23/2007 @ 9:32 pm
Catherine Clarke, Perhaps dear David Earl is not a native born citizen. Perhaps he’s doing the best he can do. With US Bank I can’t believe the fees they were charging my elderly father!!!! I can’t believe he willingly allowed them to charg him for returning his checks…..he’s had that account for over 30 years!!!! Of course my father had just as much to do with not looking into getting a free checking account also. US Bank rates over Wesbanco as far as I’m concerned.
Comment by Mary — 4/25/2007 @ 2:06 pm
Us Bank is doing the exact same thing to me. Other than I paid through their online service. I posted payments all larger than the minimum and they just short the next automatic payments until the payment is eaten up and they make all their interest. I emailed their 5 star customer service which you are to hear from someone within 24 hrs. No response! One payment for 5000 dollars was posted and then reversed then reapplied as interest then principle as though I made the next 5 payments. Then nothing was withdrawn from the account via automated payments. This should be against the law. If you don’t watch them every second they will screw you.
Comment by Thron Van Komen — 1/24/2008 @ 7:29 pm
believe, i am in a similar situation, i misplaced, or my card was stolen, not sure which, charges were put onto my account until it declined, usbm then charged me over draft fee’s amounting to over 500 dollars, although they removed the fraudulent charges, the refuse to refund the overdraft charges, that were caused by the fradulent charges, and now advise me that my account is closed and they will be turning it over to a collection company, i plan on taking them to small claims court, and let a judge, decide, oh, yeah, my totally free checking, turned into 10 dollar a month checking after only 6 months, u know most people, would just change banks, but its the freaking ideaology, of being trustworthy that im having a problem with, im for holding people to be honest.
Comment by mike shahrokhi — 1/28/2008 @ 10:13 am
USBank tried to do me and took an unauthorize debit from my account and overdraw my account and than charge fees on fees on fees. When I screamed and holler and acted a fool and dispute the items they didn’t want to give me back all the fees associate with their mistake. After this back and forth of that they were wrong in their transaction…they closed my account and I refuse to pay the fuse now I am being submitted to checsystem and I can’t open an account anywhere. I pissed and MAD …don’t waste your time with this BANK ..they are A RIP OFF TRUST ME!!!!
MAD AS HELL IN THE BAY AREA/SF 101 California Branch… they are no JOKE
Comment by Maxwell — 1/31/2008 @ 9:51 pm
OMG!!!!!! I closed my account with US bank after they charged me those crazy overdraft fees, only to receive an insufficient funds letter a week later. Apparently the genius who closed my account neglected to tell me that I had pending charges so now I owe money to them. WHAT THE HELL!!! Why didn’t the clerk just tell me to come back and close my account once the transactions posted? US bank will find a way to screw you!! FRiendly banking butt….
Comment by tiffany — 4/24/2008 @ 5:45 pm
To number 9. Guess what smart guy, the person closing the account can not close it if there are pending charges, but he has no clue if you wrote a check and didn’t bother to tell him.
Comment by That Guy — 5/18/2008 @ 9:12 am
You allw ant to know a secret. All banks have these types of policies. That is how they make their money. They make didly off the interest on a coupel $1000 you have a in a checkign account.
The trick is to find the magical customers that will pay the fees and not notice or not care. A lot of the fees can be reversed simply by asking.
Comment by SickSkilz — 6/6/2008 @ 9:47 am
Yes it is funny how so many people blame banks because they can’t manager money or balance a check book. So in one of the post your son stole or you gave him your debit card. If it was a true debit card he would have to know or have a pin number. If think it is unreasonable to expect the bank to cover your son’s decisons. It is like hold GM responsible if your car gets broken into. Blame the right people at least.
Comment by John Roberts — 6/16/2008 @ 1:39 pm
I just seen this website about US Bank. I too have a huge problem with them. I was told last night after argueing on the phone with them, that on veterens days when the federal reserve was closed, the US Banks were still open taking regular business as if it wasn’t a holiday. I made my deposits, and used my visa debit card as normal. They informed me last night that because the fedeal reserve was closed…Deposits was delayed on being posted by a day or two. Somehow all debits to the accounts was able to be posted. How is it that debits get posted but not credits??? That is so they can charge all the bank fees. Well I have been hit with $300 so far and expecting another $225. How are they allowed to get do this? They said to read my terms and conditions. That is wrong! My second problem with them is I was told that I cannot use what THEY call the Available Balance, because it isn’t a true figure. I am thinking, then why call it that and be misleading. They said you have to click on the blue links next to each transaction to get a total. Who has time to do all that, they put a figure at the top for us to use, then a second figure on a blue link so more people can go overdrawn. Does anyone know who to contact to find out if this is legal. Maybe enough people have not compalined.
Comment by mad @USB too — 11/13/2008 @ 8:38 am
I am feeling your US Bank pain. They are shifty. They are worst than any credit card company or payday lender can be. I was over on my accout like 1.98. I had three things that went through. I deposited the like $60 in my account because I knew the charges were coming. Instead of them taking their $34.50. The reversed all the transactions and I had 4 overdraft charges and then I got 4 more overdraft charges for not having the money in the account for the overdraft charges. WTF. So my 1.98 is now up to $261. There was a transaction that was made on Nov 21 and now all of a sudden it been pushed to Dec 1. They claim that the purchase didn’t clear until Dec 1. If you bank with them, use them for direct deposit and take your cash out. They are trying to recoup their losses with their consumer fees. Just look at their balance sheet the majority of their money is coming from fees. I swear is I hear that they are going to capital hill to beg for one I will the the 1st person on the front row with a HELL NO sign!
Comment by R Miller — 12/2/2008 @ 4:38 pm