Checking or savings account -- Problem caused by your funds being low -- Complaint #4704434
Complaint Overview
Complaint ID: 4704434
Company: U.S. Bancorp
Product: Checking or savings account
Sub-Product: Checking account
Issue: Problem caused by your funds being low
Sub-Issue: Overdrafts and overdraft fees
State: Washington
ZIP Code: 98122
Date Received: 2021-09-08T12:00:00-05:00
Date Sent to Company: 2021-09-08T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have used USBank for ten years without much issue. USBank had enrolled me into an overdraft protection program which I never authorized. In XXXX XXXX I was out traveling and forgot to put money in my checking account and my balance hit negative. I was unaware and kept using my debit card for small transactions like coffee. The majority of these transactions are below {$10.00} dollars. Instead of declining these charges, USBank charged me a series of Overdraft fees, each of them {$36.00} dollars. In the end, the total overdraft fees ended up being {$360.00} for over a couple of days. They waived 3 of them, bringing my loss down to {$250.00}. I complained to them that since I never signed up for overdraft protection so they should have just declined the transactions ( so I can use another card ) and not charged me these overdraft fees, to no avail. Talking to their customer service, they never offered an option to opt out of their overdraft " protection '' program. They offered some even more predatory protection options which I declined. I opened a complaint with CFPB to resolve this issue. US Bank sent back a PDF to show that I indeed never signed up for an overdraft program but did not refund the overdraft fees.
Frequently Asked Questions
What is Complaint #4704434 about?
Complaint #4704434 was filed against U.S. Bancorp regarding Checking or savings account specifically about Problem caused by your funds being low. It was received by the CFPB on 2021-09-08T12:00:00-05:00.
How did U.S. Bancorp respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against U.S. Bancorp?
Yes, visit the U.S. Bancorp company profile at readthecomplaint.com/company/u-s-bancorp to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.