BMO Harris waits hours to alert overdraft, charges me $175

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  • K_W

    Grandmaster
    Rating - 100%
    8   0   0
    Aug 14, 2008
    5,385
    63
    Indy / Carmel
    BMO Harris waits 8 hours to alert overdraft, charges me $175

    EDIT: A resolution has been reached that the bank and I can both live with. Fault was admitted by both myself and the bank and our banking relationship will continue.


    --- Original post ---

    I overdrew my personal spending account yesterday. My bad.

    It's not that I'm broke, we have over $25k spread over 8 accounts in 2 banks and a CU, plus our cash on hand... I simply underestimated my recent purchases with my personal spending account and had neglected to check my balance. :noway:

    I have account alerts setup but what does BMO Harris do?... they send a single e-mail at 4:51 PM yesterday... Nearly 8 hours after the ~9:15 AM purchase that sent the account into overdraft... and they close at 5pm

    Not only that, they put the overdraft at the front of the line further overdrawing the account with every pending transaction that came in after it.

    Of course I missed the email, so today's transactions (about 5 totaling ~$80) overdrew as well.

    They send an email today... at 4:47 PM... I catch that one.

    My account is ~-$125... plus $175 in overdraft fees. ($70 yesterday and $105 today) :xmad:

    Unfortunately my paycheck goes to that account before being divided up, payday is midnight tonight and I don't know if I can divert it and fight them later... if I can't divert it, they will take my money no matter what.

    If they wipe the fees from today I will stay with them. If not... Bye Felica!
     
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    GLOCKMAN23C

    Resident Dumbass II
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    22   0   0
    Feb 8, 2009
    38,118
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    S.E. Indy
    That sucks. At least they didn't do what BoA did to me and many other customers. They charged NSF fees without the account ever going into the red. I wish you luck in getting at least some fees back, hopefully all of them.
     

    awames76

    Sharpshooter
    Rating - 0%
    0   0   0
    Feb 24, 2016
    381
    28
    kendallville
    i use to bank with 3 rivers. one time i over drafted. no big deal except they charged me over draft on 2. the first was pending when the 2nd cleared and 2nd one used the money that was pending. so 2nd cleared, so the 2 got overdraft charges, 2nd clears but got charged. i was not happy, had to go back and say i was sorry but still closed the account,
     

    churchmouse

    I still care....Really
    Emeritus
    Rating - 100%
    187   0   0
    Dec 7, 2011
    191,809
    152
    Speedway area
    I overdrafted my personal account yesterday. My bad.

    It's not that I'm broke, we have over $20k in 3 banks and 8 accounts plus our cash on hand... I simply underestimated my recent purchases with my personal spending account and had neglected to check my balance. :noway:

    I have mobile alerts setup but what does BMO do?... they send an single e-mail at 4:51 PM yesterday... 6 hours after the account went overdrawn... and they close at 5pm

    Not only that, they put the overdraft at the front of the line further overdrawing the account with every pending transaction that came in after it.

    Of course I missed the email, so today's transactions (about 5 totaling ~$80) overdrew as well.

    They send an email today... at 4:47 PM... I catch that one.

    My account is -$150... plus $175 in overdraft fees. ($70 yesterday and $105 today) :xmad:

    Unfortunately my paycheck goes to that account before being divided up, payday is midnight tonight and I don't know if I can divert it and fight them later... if I can't divert it, they will take my money no matter what.

    If the wipe the fees from today I will stay with them. If not... Bye Felica!

    Had this same issue with the old National City bank. They were the worst.
     

    CampingJosh

    Master
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    18   0   0
    Dec 16, 2010
    3,298
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    I have requested that my banks not allow overdrafts. They simply reject the card. But I had to specifically make the request for each card, and my wife had to make the same request for each of hers.

    I recommend it to everyone.
     

    Cameramonkey

    www.thechosen.tv
    Staff member
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    35   0   0
    May 12, 2013
    31,686
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    Camby area
    I love the banks that charge you a recurring fee to transfer YOUR money automatically between accounts to prevent an overdraft. You are going to charge me to not charge me? Dafu????

    And its all automated, so its not like I'm paying for a an salaried human to do something in exchange for compensation.
     

    patience0830

    .22 magician
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    Rating - 96.6%
    28   1   0
    Nov 3, 2008
    17,590
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    Not far from the tree
    Why not just do the math when you do the transaction? Your calculator broke?

    Danged fiscal liberals blaming the bank for doing the math. Banks have done business this way for years. You've known they do business this way for YEARS. And yet you refuse to do the math every time you make a transaction.

    Who did this to you?

    Not the bank.
    Stop blaming them.

    YOU did this to you. Accept the responsibility. Stop whining.

    Snowflakes! Harrrumph!
     

    Old Dog

    Expert
    Rating - 100%
    2   0   0
    Mar 4, 2016
    1,376
    97
    Central Indiana
    I had a similar problem with a bank many years ago when I didn't have much money. They would do this almost every month. Tacked their monthly service charge on the account on a day when the account was less than the service charge, then each transaction after that caused an overdraft. This even occurred on days that I deposited my paycheck at the main bank at 9 AM. Would not get posted till next day... after they got for monthly fees and overdraft charges. We went 'round and 'round. I finally dumped them for an honest bank. 6 Months later federal reserve and auditors shut them down and sold the bank. I wouldn't want to suggest that I had anything to do with that.
     

    Cameramonkey

    www.thechosen.tv
    Staff member
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    35   0   0
    May 12, 2013
    31,686
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    Camby area
    Why not just do the math when you do the transaction? Your calculator broke?

    Danged fiscal liberals blaming the bank for doing the math. Banks have done business this way for years. You've known they do business this way for YEARS. And yet you refuse to do the math every time you make a transaction.

    Who did this to you?

    Not the bank.
    Stop blaming them.

    YOU did this to you. Accept the responsibility. Stop whining.

    Snowflakes! Harrrumph!

    I hope thats purple.

    In case its not, he has a bit of a point if I read it right. By putting their fees in at the head of the line and subsequently prioritizing each debit ahead of credits, it prevents any deposits from balancing things out and preventing MORE overdrafts. Fair (like [STRIKE]National City[/STRIKE] PNC does it) I can "overdraft" at any time throughout the day. As long as my deposit comes in by midnight when it all settles out its cool. If there is no deposit, then I get nailed with a fee(s). But not before. And thats the fair way to do it.

    Shuffling the fees up front where they can cause a cascade of more overdraft fees before a deposit (the same business day) that could cancel them out is a d**k move. Fair is settling it all up at the end of the day and assessing penalties if necessary.

    He admitted he goofed, but their policies are Sh**ty. He wasnt complaining about his screw up, he was complaining about how they handled it.
     
    Last edited:

    K_W

    Grandmaster
    Rating - 100%
    8   0   0
    Aug 14, 2008
    5,385
    63
    Indy / Carmel
    Why not just do the math when you do the transaction? Your calculator broke?

    Danged fiscal liberals blaming the bank for doing the math. Banks have done business this way for years. You've known they do business this way for YEARS. And yet you refuse to do the math every time you make a transaction.

    Who did this to you?

    Not the bank.
    Stop blaming them.

    YOU did this to you. Accept the responsibility. Stop whining.

    Snowflakes! Harrrumph!

    Your words are hurtful and constitute a micro-agression against people with fiscal-attention-deficiency. Your post has been reported.

    If anyone needs me I will be at my mom and dad's, in my old bedroom, playing with their puppy and my nephew's Play-dough.
     
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    indyjohn

    PATRIOT
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    77   0   0
    Dec 26, 2010
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    In the trees
    I hope thats purple.

    In case its not, he has a bit of a point if I read it right. By putting their fees in at the head of the line and subsequently prioritizing each debit ahead of credits, it prevents any deposits from balancing things out and preventing MORE overdrafts. Fair (like National City does it) I can "overdraft" at any time throughout the day. As long as my deposit comes in by midnight when it all settles out its cool. If there is no deposit, then I get nailed with a fee(s). But not before. And thats the fair way to do it.

    Shuffling the fees up front where they can cause a cascade of more overdraft fees before a deposit (the same business day) that could cancel them out is a d**k move. Fair is settling it all up at the end of the day and assessing penalties if necessary.

    He admitted he goofed, but their policies are Sh**ty. He wasnt complaining about his screw up, he was complaining about how they handled it.

    And they've been doing the selective transaction ordering for years too. Classic Fifth/Turd move right there!
     
    Last edited:

    K_W

    Grandmaster
    Rating - 100%
    8   0   0
    Aug 14, 2008
    5,385
    63
    Indy / Carmel
    I hope thats purple.

    In case its not, he has a bit of a point if I read it right. By putting their fees in at the head of the line and subsequently prioritizing each debit ahead of credits, it prevents any deposits from balancing things out and preventing MORE overdrafts. Fair (like National City does it) I can "overdraft" at any time throughout the day. As long as my deposit comes in by midnight when it all settles out its cool. If there is no deposit, then I get nailed with a fee(s). But not before. And thats the fair way to do it.

    Shuffling the fees up front where they can cause a cascade of more overdraft fees before a deposit (the same business day) that could cancel them out is a d**k move. Fair is settling it all up at the end of the day and assessing penalties if necessary.

    He admitted he goofed, but their policies are Sh**ty. He wasnt complaining about his screw up, he was complaining about how they handled it.

    Well I just got back from the ATM and dropped in enough $$$ to make the balance near $0, but it shows +$80 so maybe they will wait until midnight to tally it up.

    If they do it will lessen my ire when I would otherwise walk in tomorrow with a Forum Credit Union deposit bag and ask the branch manager for my balance in cash.

    EDIT: Deposit is dated 1/20... Tomorrow... will have to wait and see what happens.
     
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    long coat

    Master
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    15   0   0
    Jun 6, 2010
    1,603
    48
    Avon
    When we were with M&I I would do a phone deposit and the $ would show up over night, after BMO bought them it would only give you the first $200 and the rest after 2 business days and the ATM deposit would not show available untill over night also, but when asked they would say you get some of it right away. We changed to TCU and let them know the long list of reasons we left. When I do a phone deposit with TCU, all the deposit is available in about 1 hour.
     

    churchmouse

    I still care....Really
    Emeritus
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    187   0   0
    Dec 7, 2011
    191,809
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    Speedway area
    When we were with M&I I would do a phone deposit and the $ would show up over night, after BMO bought them it would only give you the first $200 and the rest after 2 business days and the ATM deposit would not show available untill over night also, but when asked they would say you get some of it right away. We changed to TCU and let them know the long list of reasons we left. When I do a phone deposit with TCU, all the deposit is available in about 1 hour.

    We use TCU as well. Unless the deposit is very large as in 5K= they will not hold all the amount.
     

    K_W

    Grandmaster
    Rating - 100%
    8   0   0
    Aug 14, 2008
    5,385
    63
    Indy / Carmel
    The old First Indiana, M&I, and BMO ATMs were rather plain, you entered your deposit amount and put your envelope in and the teller opened it in the morning to confirm your deposit was what you said it was... Then they would credit your account for the full amount.

    This ATM I used tonight was super fancy, it took the stack of bills and scanned each individual bill and showed me a picture of each one on the screen as they were accepted... so they better have it in my account tonight
     
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