I had to go to the bank this morning with my 18 yr old son. He was not aware of the hold on deposits (including cash) so he overdrew his account. He was charged twice ($45 each time) before he discovered the overdraft. They also have a policy of charging an additional $35 for every 4 days the account is in a negative balance. Needless to say I had to help him...he will be paying me back within a week as I had to use my grocery $$ to help. His dad (my ex) is done paying child support so we are on our own again.

We talked the bank into considering dropping the $35 charge, we will find out on Monday if they will. As soon as that's decided we will be closing the account.

I belong to a state employees credit union - the fees are cheaper, you are charged only once for an overdraft because they go ahead and pay the item. They do not have additional charges for a negative balance, they refund all ATM fees, all deposits are credited immediately regardless if they are deposited via a ATM machine or online. needless to say my son will be opening his account there.

I tried to get him to do this when he told me he was getting a bank account - being the independent child he is refused my assistance and advice. He also neglected to read the many terms and conditions of his new bank.

How satisfied are you with your bank?

I think he needs to understand more about that kind of stuff. Teenagers normally have that problem. They don't really understand where the money comes from. I mean I didn't when I was his age thank God for my parents they helped me out. They co sign the account though and I was stupid I didn't even checked my balances each month. I never opened any of my statement. Let him learn and talk to him at the same time make him understand the consquences about over withdrawing the account. Sooner or later he will come around. Believe me I'm not far from his age and I learned my lesson not too long ago unfortunately but I had to start somewhere right?

We are very happy with ours actually we never have a problem so far. We have USAA and we get reimburse for ATM fees. I'm so glad I switched before I had First National Bank (when I was working). But I got charge a lot for my ATM withdrawals when DH and I got married 2005 I switched my account.


Yikes! that's still a lot of money though charging you guys every four days.

wow, what bank was this??

we are with wamu, and they have no holds on new accounts and cash deposits. only on checks. I love wamu, their policys are great, I love our online banking and if our account is nearly empty they dont take the monthly savings until there is more in the account, and ask our permission for if they should tke it or not if they waited. So they wont purposly put us in overdraft unlike my father in laws bank TCF. They will just take his $10 savings deposit regardless of if his acct is empty or not, and then charge him $37.

__________________
stay at home mom to my crazy toddler with sensory issues

It was Citizens Bank - more like Godfathers Bank!

I got my first acount at US Bank, It was a joint account with my mom which made since for me. We also signed up for a credit line. Over drawing bumped $500 into checking and then charged $5. I did it one too many times but it was nice not to be heavly pentalized when I was just learning about having a bank account

I am with washington state employees CU, my dhs bank and I have liked it there hasn't been fees and since we have our morgage through them they auto pay our morgage with a check to make sure the money is there

__________________
Kimberly Proud Mommy to Bethany Rose April 2006