Consumer complaint received 2018-04-25
Company: OLD NATIONAL BANCORP
State: WI
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem caused by your funds being low
Sub-issue: Overdrafts and overdraft fees

Complaint:
Im filing this complaint against Old National Bank of XXXX, Ind.  in order to recoup {$410.00} in overdraft charges that I incurred for a series of transactions using my debit card. The charges began XX/XX/XXXX and ended on XX/XX/XXXX. 

I have a checking and savings account with an Old National Bank branch located in XXXX, Wisconsin. My account with Old National Bank was a continuation of my account with XXXX XXXX   which was acquired by Old National Bank in XXXX of XXXX. The conversion of XXXX XXXX and its branches to Old National Bank was completed in XXXX of XXXX. 

When I began my account with Old National Bank in XXXX of XXXX, I met with XXXX XXXX XXXX, to discuss the details of the account. In the course of our discussion we talked about overdrafts and I pointed out to him that in addition to my checking account, I would continue my savings account which typically had a balance in excess of {$20000.00}. I asked if, in the event of an overdraft, could there be a transfer of funds from the savings account to the checking account in order to avoid overdraft fees. He said that is what would happen should an overdraft occur. 

In XX/XX/XXXX Old National Bank offered an overdraft protection plan that I declined because of the confirmation given me by XXXX XXXX XXXX in XX/XX/XXXX that an overdraft on my account would be covered by a transfer from my savings account. In declining the overdraft protection plan, Old National Bank did not inform me that now, in spite of what XXXX XXXX XXXX had told me when I opened my account, the bank would charge me for overdrafts rather than transfer funds from my savings account. 

When the initial overdraft occurred, Old National Bank had the discretion to deny the use of my debit card but instead allowed the transactions to continue and the charges to accumulate. I still maintain in my savings account a balance in excess of {$20000.00}, I think its only fair to expect that the bank would act on my behalf and not theirs. Overdraft charges on debit card transactions provide an opportunity for easy profit and they made the most of that opportunity. 

On XX/XX/XXXX, I met with XXXX XXXX XXXX of Old National Bank to discuss what I felt were unfair charges. I pointed out to her what I had been told by XXXX XXXX XXXX regarding how an overdraft would be handled, and she confirmed that XXXX XXXX was correct with regard to that feature of the account. XXXX XXXX said that the reason for the overdrafts was due to the fact that I did not opt out of a provision of the account that allowed for the overdraft charges. When I asked to see my signature on a document showing that I had opted in to that provision she could not produce such a document saying that it would require research. She did not offer to find the document then and has not yet contacted me to show proof of my having agreed to a provision in for overdraft charges. 

Old National Bank is no stranger to taking advantage of its customers. In a class action suit settled in XX/XX/XXXX, Old National Bank was accused of purposefully posting debit card and ATM transactions in an order that increased depositors overdraft fees. They agreed to a {$4.00} XXXX settlement. 

The bank in that instance showed a willingness to serve itself instead of its customers. 
A customer should be able to trust the bank that holds its money, but Old National Bank appears to serve its own interest before its customers interest.

Company response to consumer: Closed with monetary relief