Because of some bad credit history thanks to the Federal Education Department opening a bank account has been one heck of a task for me in the past few years. All banks now days want to run credit checks before allowing you to put your own money into their bank and with a low credit score there just isn't many banks that will give you the time of day.
After reading on the internet about First Internet Bank of Indiana I decided to apply. I crossed my fingers and hoped they would give me a chance and in the end they did! When I first started using their online banking service I was loving every minute of it. They had a wide range of services and the website was very easy to navigate and find or do what you needed. They even offer free deposit slips and envelops with no postage required so that you can mail checks in to be deposited and they amount is usually added to your account the same day it is received. I thought I had found the perfect bank!
Then, because of failure to post a transaction for 2 weeks I was thrown off in my calculations of my account balance and accidently went $2 and some change over my balance. They didn't waste any time posting the negative balance and within 5 minutes of the updated account reflecting in the negative I made an electronic deposit to put my account in the positive. Now, from my experience, most banks allow a certain time period for you to bring your acount back into good standing before they tack on any charges.It is usually anywhere from 24 hours with some being really nice and allowing up to 3 days or so. Not this one! 5 minutes with a negative account balance costed me $60!
The fee was so ridiculous that I decided to call the bank and see if they wouldn't cut me a break since I always keep s good sum of money in my account and because it was the bank that failed to post to my account accordingly. The customer service rep I spoke with even admitted that part and apologized.
45 minutes later the nice customer rep agreed, after speaking to a manager, to reverse half the charge. Wow! Thanks a lot! I still owe $30 for a $2 over limit charge that was fixed in 5 minutes or less.
After that I have just been kind of iffy with this bank. $60 is a huge amount of money for going over your account limit and imagine if it were to happen with only a few cents over. I am considering other banks right now because of this outragous charge and recommend anyone who has ever overdrawn in the past to steer clear of this one unless you want to go broke very fast.