Student Warning: Your Large Corporate Bank Will Cheat You!

The Website Universal Tattletale which was the original reason for this blog tried to provide an avenue for people to complain or seek action because there is in many cases little or no action economically feasible available through a lawyer or the government. Telephone companies, cell phone companies and banks are the biggest winners when it comes to unscrupulous behavior including outrageous charges and shady contracts that legalize a form of theft. Many times they will negotiate but this is only after they have made huge unreasonable profit from your accounts.

Sadly Americans have come to accept shady deals, dirty games and the absolute authority given to large corporate entities especially communication companies and banks. We have been trained to be submissive to otherwise unethical and immoral behavior. Note this real life account.

04/10/2008	NSUFFICIENT FUNDS FEE	$70.00		($278.52)
04/09/2008	WALGREEN COMPANY MICHIG 514552 04/08WALGREEN	$1.32		($208.52)
04/09/2008	ATM WITHDRAWAL 007405 04/0830 N MICH	$40.00		($207.20)
04/09/2008	INSUFFICIENT FUNDS FEE	$35.00		($167.20)
04/08/2008	MCDONALD'S F3661 CHICAGO 04/06MCDONALD'	$5.01		($132.20)
04/08/2008	INSUFFICIENT FUNDS FEE	$210.00		($127.19)
04/08/2008	DEPOSIT ID NUMBER 912087 (view)		$100.00	$82.81
04/07/2008	CVS 3674 105 S. Wabash C930042 04/04CVS 3674	$1.01		($17.19)
04/07/2008	7-ELEVEN CHICAGO IL 100259 04/047-ELEVEN	$1.08		($16.18)
04/07/2008	7-ELEVEN CHICAGO IL 334195 04/067-ELEVEN	$1.41		($15.10)
04/07/2008	MCDONALD'S M4129 OF IL C 04/05MCDONALD'	$2.53		($13.69)
04/07/2008	7-ELEVEN CHICAGO IL 121161 04/057-ELEVEN	$3.02		($11.16)
04/07/2008	SHELL Service Station CH768147 04/05SHELL Ser	$4.06		($8.14)
04/07/2008	DUNKIN #343358 Q35 C 04/03DUNKIN #3	$4.21		($4.08)
04/07/2008	7-ELEVEN CHICAGO IL 352849 04/047-ELEVEN	$5.33		$0.13
04/07/2008	MCDONALD'S F30930 CHICAG 04/04MCDONALD'	$6.52		$5.46
04/07/2008	ATM WITHDRAWAL 007128 04/0430 N MICH	$20.00		$11.98
04/04/2008	INSUFFICIENT FUNDS FEE	$35.00		$31.98
04/04/2008	DEPOSIT ID NUMBER 912085 (view)		$70.00	$66.98
04/03/2008	7-ELEVEN CHICAGO IL 351411 04/037-ELEVEN	$3.15		($3.02)
04/03/2008	MCDONALD'S F30930 CHICAG 04/02MCDONALD'	$3.43		$0.13

Above is an actual recent record of a college student who recently overcharged his account buying meals in downtown Chicago on a very low budget. The student had used only a debit card but was unaware of any of the overdrafts at any time and eventually incurs $340 dollars of fees with 11 total charges of 66.80. You might say the student should have known, but if you carefully study the series of charges you can see why it is quite possible to overcharge this much money and never realize that a mistake has been made. The above charges incurred on a Chase bank account.

The first overdraft occurred on April 3 when a deposit went in immediately following on the next day for $70 . The balance would be $35 dollars lower than the student realized. Therefore the student in downtown Chicago used the card for very small purchases to eat for the next few days not realizing the account was over drafting, Seven charges of a total amount of $17 dollars on a debit card incurred fees of $210. The student then put in another $100.00 because without the charges thus far there would have been a positive balance of roughly 118.00 dollars.

The student then made two more debit card meal purchases for a total of $6.33 and made a withdrawal from an ATM for $40 dollars at which time he showed a negative balance of $207.20. The bank then added additional fees of $70. The final balance is now $278.52 and the account balance with no charges would still be positive by more than $5.

This is nothing more than legalized theft. Its to bad Charlton Heston or Ronald Reagan couldn’t try to stand up for this kid’s rights for fair treatment by stating something like over my dead body or from my cold dead hand, but these people and many Americans and others have little or no ability to defend their rights. We are indeed a nation lead by elitist views who say one thing but do another.

In a final note the Chase bank via a foreign customer service from India? agred to credit the account for $150 leaving the student who should have had a positive balance with $190.00 in late fees on an account that should have never bounced or incurred any late fees.