Consumer complaint received 2022-01-15
Company: PNC Bank N.A.
State: VA
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem caused by your funds being low
Sub-issue: Non-sufficient funds and associated fees

Complaint:
Madam or Sir, I have a Non-Interest bearing Checking account with PNC Bank in the Washington DC XXXX XXXX, since XXXX or XXXX ( for many years ). I am a small business person significantly challenged in the Covid economic paradigm. From time to time, my checking account funds drop below my bank 's enforced thresholds... 

XXXX. Recently in the last week of XXXX around the XXXX, I was charged with Overdraft protection fee of {$36.00} because an ACH payment due to a service provider hit my account less than a day before I could deposit a check that would have more than covered it. I had already incurred one Overdraft n XXXX, which fee of {$36.00} was later waived in keeping with PNC 's policy to credit back the first Overdraft occurence during a calendar year. I am grateful to PNC for this. 

I called PNC customer service to request a partial credit back even of that {$36.00} charged to me in late XXXX. Had spoken with XXXX. She said in keeping with Corporate Policy, Covid related financial hardship notwithstanding, there could be No credit back - not {$10.00} or {$5.00} even of the Overdraft fee of {$36.00} as it was my second instance in XXXX. I accepted that. 

2. Then around XX/XX/XXXX a few days ago, a service fee of {$7.00} was charged to this same Non-Interest Checking account of mine - Because my Average Monthly Balance in that statement period ended XX/XX/XXXX fell below the mandated {$500.00} level. I spoke with XXXX, another customer service representative an hour ago. He was sympathetic of my financial diificulties but expressed his inability to waive it himself. He tried through the system but the system would not let him ... PNC corporate policy. 

In normal times I do not grudge PNC its right to charge certain fees, since it is known to me beforehand as an account holder. But we know what has happened to real small business since the Spring of XXXX ... Loss upon loss. 

Furthermore, I specifically keep a NON-INTEREST bearing Checking account, such that when I have had several thousands of dollars in the account for a month or more even, I have never earned any interest. 
- Hence in return, is it not fair and reasonable to Not have to be charged a {$7.00} service fee during these Inflationary times on top of on-going Covid disruption, in a checking account where I am paid No interest at all regardless of how much money I might have at any time in that checking account? 

It would be nice if PNC could show decency and be willing to help its account holders in these times by waiving such " Low Account Balance Service Fees '' in its non-interest bearing checking accounts. 

For the CFPB : How about new legislation that will prohibit Banks from levying a " low account balance service fee '' upon checking accounts that earn No interest to begin with? Sure, I signed a contract with PNC when I opened this checking account. But who signed up for Economic Shutdown?! If the government imposed that upon us for the first time ever then surely parallel legislation should preclude Usorious fees of all kinds from being levied upon those who are already needing to save every US dollar. 

The longer term solution for me and perhaps others in my situation could be to open similar Checking accounts with a Credit Union where there are No low balance fees increasingly anymore, and where Overdraft protection can be paid via an interest rate per annum more like a line of credit rather than a fixed fee approaching {$50.00}. 

Thank you for reviewing. Sincerely Yours.

Company response to consumer: Closed with monetary relief