Ok, so I agree with you that this process is different and would appear to be unfair. Most banks are moving to this process, just FYI. Item processing turnaround has gotten faster, along with technology, eliminating float time as it used to be.
The bottom line is, if you don't have the money in the bank, you shouldn't spend it. If you use your checkcard the day before payday or write a check, counting on float time, you are in danger of being charged a fee. Technically, and I'm not saying I agree with the policy since I've fallen victim to it once myself, the bank has not done anything wrong. I do however, have to remind you that this information was communicated in a statement several months ago. If you are like me, you probably don't even read the statements or literature that comes with it. Again, technically, the bank has done nothing wrong if we choose not to read the communication they send out, the bank cannot be blamed. You have every right to be frustrated by paychecks being absorbed by NSF fees (and so was I), but you have to take the emotion out of it and realize that it was ultimately your own fault.
BB&T is a MUCH more trustworthy bank than some out there.
you can spin it any way ole way you like it's still unethical. it's true bbt disclosed their changes in their posting sequence (hidden in some message on a bank statement), but most people skim their statements several days or weeks after getting them. to me, posting debits before credits is like a clerk helping a person out of turn because they're more attractive than the person in front of them.
it's slimy at best. and believe it or not, there are people in this world that live paycheck to paycheck, who don't spend beyond their means.
my litmus test is: could this happen to my parents or my kids? in both cases, yes. in both cases they live on a fixed income.
so leave your ivory tower and slum with the rest of the world.
here's an idea.... Decrease the top tiered salaries by 50% and don't fee or cheat your customers!!!!!!!
Another Kool Aid drinking know-it-all who likes to preach. Its a disease with this crowd. Use a Credit Union...these clowns can only make their numbers by finding more creative ways to charge fees at the expense of their depositors and customers...just think if they used that mental energy into actually lending money.
What do you mean by "trustworthy"? Over 21% of BBT's loan portfolio is composed of construction loans. Who would be building into this real estate market? Over $3.2 billion of Alt A loans which are dropping in value like a rock. And the 2007 provision for losses was 24/100ths of a percent. This bank is going down down down. My recommendation? Get your checks deposited into a real bank that won't be belly up by EOY 2008 or you'll really be screaming.