Consumer complaint received 2016-12-02
Company: U.S. BANCORP
State: WI
Product: Bank account or service
Sub-product: Checking account
Issue: Problems caused by my funds being low

Complaint:
I have been charged XXXX overdraft fee of {$36.00} for transactions that should of been cleared and not considered overdraft transactions. The transactions are as follow in the amount of : {$20.00}, {$11.00}, {$6.00}, {$6.00}, {$12.00}, which hard posted on XXXX/XXXX/16. These transactions where made, meaning point of sale time, the moment the card was swiped, the prior week which was XXXX. I spoke with a US bank representative, XXXX XXXX, from the XXXX WI in US bank location on XXXX XXXX She advise that because I made a preauthorization on XXXX/XXXX/16 in the amount of XXXX and another automatic preauthorization of XXXX, it brought my account into negative. So, my prior transactions, did n't hard post to the account until after the preauthorization was made and so my account was negative when the charges hard posted. I advised that when I checked my internet banking and mobile bank app it had already posted. I checked my mobile banking app several times a day. On Friday XXXX/XXXX/16 it stated that my available balance was XXXX with XXXX pending transactions. On Saturday and Sunday,XX/XX/XXXX-XX/XX/XXXX16, it stated the same. Then on Monday morning it stated that my available balance was XXXX with no pending transactions. I decided to pay for my cell phone bill in the amount of XXXX, and was unaware of the automatic withdraw of from the merchant paypal of XXXX. Then I checked later that day it was still the same. The next day on XXXX/XXXX/16, it stated that I was negative {$190.00} then later that day it stated I was at XXXX with XXXX pending transactions. I just assumed that it was a bank error. I knew I would overdraft with the XXXX payment on Monday, and I am willing to pay for the over draft for those XXXX transaction that posted on XXXX/XXXX/16 and XXXX/XXXX/16. I also advised that in there overdraft policy it states that they will not charge an overdraft fee until transaction has been paid, I assume it meant hard posted when the funds are actually pulled out of the account. As stated in overdraft information from us bank internet banking : " U.S. Bank will charge an Overdraft Paid Fee of {$36.00} for each item we pay or return on your behalf. '' She advise me that as soon as I swipe my debit card the funds are automatically taken out of the balance and so the preauthorization is what really matters and that they also charge for any preauthorization you make which brings your account to a negative. So I stated that those transactions where made the prior week and I had more than enough funds to cover it. So if that were the case, my account should not have been charged. Then she advised that because it hard posted onto my account on the XXXX/XXXX/16 my account was already negative due to the preauthorization transaction. I advise that if the preauthorization of the prior transaction was already pulled according to what she said " the prior week or moment I swiped my card '', then the funds should have been take out before the XXXX/XXXX/16 preauthorization transaction, so those hard posts should not have mattered. She then went on to state that the hard post did matter because if I had done the preauthorization on XXXX/XXXX/16 instead of XXXX/XXXX/16. The hard post would of cleared and I would n't be facing negative charges. I advise that on Monday morning XXXX/XXXX/16 stated that there was no pending transactions, that my available was {$4.00}. She then went on the state that preauthorization transactions are taken before hard posting transactions. I then advise how that can be because the preauthorization for the prior transactions should of cleared first because they were preauthorized first, the prior week. Then she stated that the hard posts does matter. Her explanation is very contradicting. I feel that I am being cheated and the US bank mobile app and online banking is very misleading. I 'd the XXXX overdraft charge of {$36.00} to be refunded back to me.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation