comments
Zions Bank Sued in Utah Over Overdraft Charges
Email
 Print
|
I normally don’t post about lawsuits, I typically wait until the settlement period such as in the case of Bank of America, but I’m making an exception in this case because it let’s us see the evolution of one of these overdraft lawsuits. The latest lawsuit involves Zions Bank facing a lawsuit in Utah over policies that let it manipulate debits and credits to maximize overdraft charges. You know the story, the only thing different in this case is we have different actors.
At the moment, the lawsuit hasn’t received class action status and right now there are three law firms suing Zions Bank on behalf of Melinda Barlow. Zions is a regional bank with branches in Utah and Idaho but her parent company has banks all over the western and southwestern United States.
{ 4 comments, please add your thoughts now! }Related Posts
 By Jim |
 Stumble It! Bookmark reddit.comTags: Oct 13, 2011 | Read more in Banking |
Like this article? Get all the latest articles sent to your email for free every day. Enter your email address and click "Subscribe." Your email will only be used for this daily subscription and you can unsubscribe anytime.
I bank at Goldenwest credit Union and they are doing the exact same thing, I know that my paycheck will be deposited on thursday but Goldenwest holds it until friday and if I have anything in pending status that will put me in the negative and force me to pay 22 bucks per transaction then they will hold the paycheck and put the pending transactions thru and then releasing the funds of my paycheck.. Isnt this illegal?
I am a 38 year customer of Zions Bank and I just received a letter from them informing me that I must keep $2000 at all times during the billing cycle in my “gold” checking account or I will be charged a $12 monthly service fee; Zions also reduced the number of free (no service charge) withdrawals for use of their ATM’s to four per month. I currently have $1550 in this checking account and since they made these changes effectively almost immediately, there was no way that I could deposit $500 immediately into checking and still avoid at least one $12 monthly service fee. This to me is a similar bait and switch scheme as described in the “Zions Bank sued over overdraft charges” article. I immediately closed my “gold” checking account and my saving accounts with Zions. I would recommend avoiding becoming a customer of Zions Bank.
I closed my account on 11/30 and all of the sudden I have $137.00 worth of overdraft fees for nothing. The account was at 0. IT WAS CLOSED. I called and they told me that I would have to talk to the specific girl who “closed” my account for me because they don’t have records of me closing it. Okay, close it now, but wait what are the fees for? Nothing has gone through the account. Nothing has tried to go through it. The guy on the phone actually had the audacity to say I was liable for the fees even though he could not figure out what they were for. Idiots!!!!
I just got off the phone with manger of the branch I bank with Zions Tami supervisor from the customer service told me to contact manger of branch and she could give me my over draft fees back When I talked to the manager she told me that it was there policy to charge the biggest amount which is still pending and to charge over draft on all others which resulted in and over draft fee of $125.oo and it is not there policy to reverse charges at all. How can you charge fees when who have pending and deposit was made on the day before. HELP