Keybank 5

CLASS ACTION LAWSUIT NEEDED!!!!

Like the rest of you, i play by the rules, work hard for my money, and can admit when i make a mistake however.......

After numerous overdraft fees from this bank i finally surfed the net "Key Bank Class Action Lawsuit" and found this site. I NEVER post things for any reason but this has got to stop with Keys unethical overdraft practices. This most recent overdraft almost made me cry. Here's what happened.......

Friday July 4th 2008. Account Balance positive $52. I Deposit personal check from rental tenant into Key Bank ATM for $450.

Over the holiday weekend spent roughly $200 with Key Bank Debit Card.

Total overdraft fees after weekend = -$268.


Sooo here's the problem. Key bank says that i was allowed $100 good faith credit for the deposit of the check during that weekend. Any transactions above $152 resulted in a overdraft fee since the check was not yet cleared. The purchases above $152(McDonald's for the family, a U.S. Flag blanket for the Fireworks picnic, Gas for the car and snacks for the picnic.) resulted in overdraft fees. When Monday rolled around and i got online and saw that i was in the negative i naturally called to get this all straightened out. To make a very run around story short, i left the Executive Key-bank representative speechless when i said simply,..... "I totally understand limiting my funds until the check has cleared because you don't know if there is a check until Monday and u verify that it is legitimate, so automatically giving overdraft fees is a natural defense by a bank to deter excessive Non Sufficient Funds transactions. HOWEVER once the check is cleared the bank should carry the responsibility of reimbursing the overdraft fees because they now know that the money spent was truly there."

Its simple, you are my bank, i allow you to hold my money so that i can avoid walking around with wads of cash and be able to make transactions via a debit card whenever i cant be there in person (Ex. Internet transactions). When i give you my money to hold i understand you will use my money and other peoples money to invest in loans and other legitimate financial tools. When i need to withdraw my money for my own personal transactions i expect my money to be there. The line is crossed when you find ways to take advantage and manipulate our willingness to allow you to hold our money. When a banking institution recklessly and excessively manipulates its customers and creates legal policies allowing loopholes like this to happen unchecked, we the people are then obligated to call for correction in the form of a Class Action Lawsuit.

FACT: Keybanks online banking for customers has a ILLUSION loophole. When a employee of Keybank accesses your information they see your transaction history in REAL TIME (When the merchant is paid). When you as a customer look online via there online banking you see a TRANSACTION HISTORY (When you made the transaction) that does not show what the Key Bank Employee sees. YOU see when the actual transaction took place, KEY BANK sees when they actually paid the merchant, sometimes 2 weeks later. The reality is that the lower level employees don't see that bogus sheet your reading on the Internet so they think you are crazy, meanwhile you cannot see the real time transactions so you think they are crazy. They purposely keep you and there own employees in the dark, looking at separate forms. As all of us know who are on this website the employees are limited in there ability in offering you a refund but are allowed to give you so many in a 12 month period. So you Feel like you compromise when they allow you %50-%75 of your wrongfully stolen money bank once or twice. The truth is that both you and the employees should be allowed to see BOTH the Real Time transactions and the Transaction History. This would make more employees understand the customers point of view and allow the customer to monitor the banks actions and demand an explanation as to why it took them 2 weeks to pay the transaction. The Grounds for a class action lawsuit is the fact that AVAILABLE BALANCE is a DELIBERATE MISREPRESENTATION OF FUNDS.

Fact: Key Banks computer system is designed to hold certain transactions, then to compound them all at once resulting in overdraft fees. Take a look at your online banking statement next time you go into the negative. Notice that transactions you though cleared weeks ago suddenly end up in the overdraft section, and that all of the big monies spent for each overdraft day come before the smaller transactions. If they did it in reverse there would be less overdraft fees. Grounds for Class Action Lawsuit, DELIBERATE CALCULATED THEFT of SMALL ACCOUNT CUSTOMERS.

Ive had more than enough of Key Banks unethical tricks, i work for a living and don't believe in suing for a quick buck. This however is not personal, its business.

I hope more of us stand up and speak out against these type of crimes, i a