Is the bank obligated to correct this error?

Question

I called a card company to make a payment on my account. For the past few months, I've always used the same checking account to draw my funds from, although I had an older checking account on there that apparently never got taken off when I asked them to change my banking information.

When I talked to a rep to schedule the payment, I found out later that he pulled from the old checking account rather than the one listed as my primary checking. I'm not sure how this mistake happened but it did.

Because I hardly use that checking account, it ended up overdrawing and acquire overdrafte fees. When I called the card company and told them about the mistake, they basically said they wouldn't remove the charge from that account because I hadn't clarified which account to take it out of. Although I know it doesn't take a genius to know that a "primary account" is typically the account you use to schedule payments, I didn't argue them on this issue because technically they were right, I didn't clarify.

But on the checking account they withdrew from, they ended up splitting the whole amount I had scheduled, processing two seperate payments equal to the amount I had schedules, causing two seperate overdraft fees. There was no reason for them to split the amount and they had not informed me that they were doing so. Had they taken out one full amount like I had scheduled, there would only have been one overdraft charge. Are they obligated to fix this? If so, what do I do to make sure that they don't try to stick me with their mistake?

Thanks

Answer 1

Anytime you do a check over the phone, there are suppose to ask you for your complete checking account info even if they have the info in front of them. Just tell them either credit the overdraft fees or you're file a complaint with the Banking Commission in your state and also the FTC. The FTC toll free # 1-877-382-4357. As you found out, being nice did not get you anywhere.

Answer 2

Although you should have clarified, the bank should have asked for clarification before allowing it to overdraw.

As for a meeting with the manager of the bank you had it drafted from. You might have to threaten to take your business to another bank.

Good luck.

Answer 3

You can try to argue your situation, but I think it will be fruitless.  I've encountered a few similar errors in the past, and ended up cancelling the card and any charges associated with same.

Of course, within a couple of weeks, someone called and asked WHY the card was cancelled and what could be done to reinstate same.

I vented, and they frankly could NOT have cared less.

Fight the best you can, and then move on.