I got smashed with 5 overdraft fees for 37.50 a piece because of a small error, the error was my fault but the bank reordered my transactions so that instead of getting one overdraft I got 5. Ive already talked to the bank manager with no success. Is it possible to get them back in small claims on grounds that the fees are unreasonable, or excessive, is there any type of act passed that would help me in this. P.S. I do not want to hear the answers that say its my mistake, I fully understand that, but when you get over 200 dollars of fees on less than 30$ of transactions it is rape wether the law allows it or not. The bank could say in fine print in the contract that if you overdraft they could kill you but I doubt itd be legal to do so, Im hoping I could find info that would make these excessive charges illegal as well. Plz point me in the right direction.
Answer by Zach
More than likely what occurred is they allowed the larger transactions to come out first, before the smaller ones, causing you to overdraft several times. This is completely legal, although a poor practice in my opinion. You don't have a law suit. You yourself said it was an error on your part. You'll have to continue applying pressure to the bank to give some of it back or deal with it. I got an overdraft fee and had to talk to three people to get it overridden.
Answer by quizzard123
Overdraft fees are legal because you signed an agreement to accept them. Banks do not 'reorder transactions', they typically process transactions from largest to smallest if they arrive the same day. That is done to protect YOU, since it allows the larger (presumably more important) ones to go through first.
Because you signed an agreement on how the fees work, the fees stand.
What do you think? Answer below!
Orignal From: could you get overdraft fees back in small claims court?
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