Checking or savings account -- Problem caused by your funds being low -- Complaint #8049810
Complaint Overview
Complaint ID: 8049810
Company: Security Service Federal Credit Union
Product: Checking or savings account
Sub-Product: Checking account
Issue: Problem caused by your funds being low
Sub-Issue: Overdrafts and overdraft fees
State: Texas
ZIP Code: 78749
Date Received: 2023-12-22T12:00:00-05:00
Date Sent to Company: 2023-12-22T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Every pay period ( XXXX per year ), Security Service Federal Credit Union ( SSFCU ) holds the direct deposit from my employer, until the official payday, every other Friday, even if the money has already been deposited by my employer a day or two prior. SSFCU will allow debits against my account from XXXX process on Wednesday or Thursday of the pay period, and charge me an overdraft fee of {$32.00} for each deficient transaction. I know that my employer has released the direct deposit on Wednesday or Thursday of the pay period. And can prove it! I believe SSFCU is intentionally holding my direct deposit so they can charge me as many fees for insufficient funds instead of releasing my direct payroll deposit when they receive it from my employer.
Frequently Asked Questions
What is Complaint #8049810 about?
Complaint #8049810 was filed against Security Service Federal Credit Union regarding Checking or savings account specifically about Problem caused by your funds being low. It was received by the CFPB on 2023-12-22T12:00:00-05:00.
How did Security Service Federal Credit Union 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 Security Service Federal Credit Union?
Yes, visit the Security Service Federal Credit Union company profile at readthecomplaint.com/company/security-service-federal-credit-union 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.