Consumer complaint received 2016-10-29
Company: U.S. BANCORP
State: CO
Product: Bank account or service
Sub-product: Checking account
Issue: Problems caused by my funds being low

Complaint:
US Bank, whom I previously banked with for XXXX, has turned me into collections for overdraft ( OD ) fees to the tune of {$660.00}. I have proof of US Bank 's mistake where it all started. This proof is a screen shot I obtained when I was online trying to figure out what happened. US Bank has a sneaky way of confusing you when you check your balances online. I caught their discrepancy when I hovered my mouse over the icon to determine my account balance. You have to take this extra step to see your actual account balance. The banks lame explanation for this is that " there are xxxx balances ''. xxx is the account balance and xxx is the ledger balance. This is confusing and is their deceptive way of generating overdraft fees. The attachment which I screened shot from my online checking account is proof of how they do this plus the OD charge of {$36.00} that was incurred. You will notice when the check was paid, there was still a balance, however, US Bank charged me as if there was not enough to cover the check and this Is where it all snowballed with OD Fees. I spoke to XXXX with US Bank about the first {$36.00} OD fee and she refused to waive the charge. I also spoke to XXXX with US Bank on XX/XX/XXXX @ XXXX AM and she said, " the most you will be charged is {$390.00} for OD Fees because there are XXXX transactions to soon hit the books with a {$36.00} each charge for OD Fees. '' I asked again, will there be any other charges after this {$390.00} total for OD Fees because there should not be any other transactions on my account. She said, " NO ''. What I discovered that day was my son was using my debit card and did not realize the account was in the negative. XXXX said I can press charges on my son to get reimbursed for the fees. I told her there is no way I would do that to my son. I disputed the amount for OD Fees of {$660.00} and received bank statements. Bottom line, US Bank has recovered all that was paid from my bank deposits. In other words, US Bank is out nothing except their alleged {$660.00} which is strictly OD, extended OD, & closed account Fees! This is outrageous and the government needs to stop the banks from stealing from those that are struggling to keep food on the table. The banks cried and received their bailout money from the government. Now the banks are XXXX 's richer than when the economy crashed in XX/XX/XXXX-XX/XX/XXXX. The banks are why the housing market crashed yet the banks was bailed out for their extortion, fraud, deceiving from their customers but they are allowed to continue to charge their customers these outrageous fees! US Bank now wants to start charging for my sons XXXX account monthly fees because it does not meet their XXXX Account criteria since I moved my checking account. I spoke to XXXX XXXX XXXX on XX/XX/XXXX @ XXXX pm to close that XXXX account & he said, " there is a XXXX signer before processing hold since XX/XX/XXXX ''. He also stated he never seen this type of transaction. This stems from US bank arbitrarily changing my sons XXXX account that was their mistake. For some reason US Bank took my sons ( still a minor at the time and was a custodian savings acct ) savings account from the connection to my account which was the XXXX XXXX. Then US bank charged me $ XXXX processing fee and it was not discovered till I received a letter from the Bank stating the Savings was in a $ XXXX balance and if I do not deposit they will charge a {$25.00} fee. I put {$30.00} in his savings account prior to this change US Bank made. So, once again, US Bank stole {$30.00} from my young child 's savings account and refused to credit all but {$4.00}. I even spoke to a supervisor who agreed to the {$4.00} credit but that was all. US Bank then associated my sons savings account to the XXXX plan yet I 'm being penalized with this verify signer hold? I think not & never received anything from them in this regards!

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