My bank merged with 5th/3rd and have added new fees and taken away old privileges, can they do this ?

Question

First Charter merged or was bought out by 5th/3rd bank while I was in the hospital suffering through a life threatening illness. When banking with First Charter I had a $500.00 overdraft protectiion for a $36.00 fee, which had to be brought current within 30 days.

While I was in the hospital my son, who was taking care of my affairs paid my house payment using the overdraft First Charter had given me. After the merger unknowingly to me this courtesy from First Charter was no longer available with 5/3. Not only did 5/3 charge a $33.00 NSF fee but they began to charge $6.00 a day to my account until it was brought current. To bring my account current is not a easy task as I live on disability which is paid once a month. Anyway my question to the bank was why did they choose to pay the check. If the courtesy of the overdraft was not available and was not the same why did they choose to pay? I had not signed any paperwork with them (5/3) asking to pay any overdrafts and I would not have under the above circumstances. How can a bank take away one service and add another without permission from the customer? I certainly would have rather the bank sent the check back. My landlord would have contacted me immediately (as that has never happened with us before.) But instead the bank decided to pay it and charged me the $6.00 a day to the amount of $93.00. That may not sound like alot but that is 15% of what I live on each month. It is also a gas/water bill that I can not pay. I have contacted the bank and they refuse to give any of the fees back, even if I was in the hospital and not of sound mind. How can the bank decide what to pay and what not to pay when there is no agreement between the two parties? I read somewhere on the internet that banks made in excess of 17 billion in fees last year. Poor people bounce checks, people who are on fixed incomes bounce checks. I was $9.00 short and this bank charged me $6.00 a day for a $9.00 loan. If I needed $9.00 to pay the house payment I certainly can't afford $6.00 a day in some trumped up bank fees.

Answer 1

As long as they got you notice somehow (typically a flier in your statement). They can do what they want.

They paid it knowing they would charge fees.  They make most of there money on fees.  They were probably expecting you to pay the balance faster which is the reason for $6 a day.

I would suggest changing banks.  If they wont wave the fees because you were incapacitated, they don't deserve your business.

Answer 2

Yes, they can do this.  

THey paid it as an overdraft.  Theydon't need your "permission" to change the way they are doing things - they only need to send you notice.  REgardless of whether or not you read it - and it could have been a flier in your monthly statement - I'm sure they sent it to you.