Sorry about that virtual scream, but I am so irrittated!
My husband and I recently opened a new checking account (we had to leave our old bank because of some new fees that were costing us a lot of money), and luckily, we opened an overdraft protection account too.
They had neglected to tell us that everything we deposit must be held for a full week
even if it'* a payroll check for the first month the account is open. What we always do becasue we run pretty much paycheck to paycheck is deposit "as cash", meaning they cash the check and then deposit it so it is immediatly available...well, the teller deposited our checks as checks, ignoring our request to do it as cash, and neglected to tell us she did it that way.
So what happened? We wrote almost $1000 worth of checks that would have bounced were it not for the overdraft account, and we're getting charged sky-high interest for the overdraft amount!
All I can say is, they had better
refund the interest amount for the overdrafts and not charge us any fees or anything for this.