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Old 10-17-2012, 11:50 AM   #1 (permalink)
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Key bank overdraft charges. Do I have a case?

Keybank authorizes payments regardless of funds availability. I did not give consent to Keybank to authorize payments in case of insufficient funds. But the Key associate (who opened the bank account for me) did not make it clear beyond any reasonable doubt that I have to subscribe to overdraft protection products to avoid overdraft charges. For 2 weeks bank was authorizing payments and charging overdraft fees on my account. The Key associate should have explained that all Key clients are by default NOT protected from overdraft. For 2 1/2 weeks the overdraft charges are 467.50
Do you think I have a case?
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Old 10-17-2012, 01:10 PM   #2 (permalink)
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A couple questions come into play first it is possible you signed some form agreement when you opened the account agreeing to these terms. Generally when you open a bank account you agree to an endless amount of things by signing a paper and nobody really reads all the details, but something indicating that is likely in the agreement.

As for reasonable doubt etc that is a standard in the criminal justice system not contracts. Unfortunately, in contract situations there is not a great deal of protection all parties are allowed to enter into a contract that may not necessarily be fair as long as it is not unconscionable http://www.legalmatch.com/law-librar...t-lawyers.html (brief article explaining that)

Often times they are not fair as a bank will have in-house lawyers etc drafting very favorable terms for the bank and a consumer simply signs without reading the details. This is likely what happened in your situation.

Furthermore, they could have a defense that it is not their responsibility to make sure you have the correct amount in your account. That puts expenses on them to check how much money you have in each transaction and a bank is not going to do that for a customer. Instead it will be up to the customer to know how much they have.

Overdrafts are annoying and I had plenty myself when I was in college and law school they can be a rip-off and maybe you can win. Since it is only 467.00 it is a not a very large amount and you would simply go to small claims to http://www.legalmatch.com/law-librar...ms-courts.html to take this to court.

It may be possible to get a class action against key west if there is some unauthorized practice going on here is an article explaining that. http://www.legalmatch.com/law-librar...n-lawyers.html

However, in my anonymous internet poster opinion (which means very little) and based on the few facts from your post I imagine the bank would prevail, but you can certainly take legal action if you wish, and I hope you win as I hated overdrafts.
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Old 10-17-2012, 01:47 PM   #3 (permalink)
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@rgriff I appreciate your reply. I would definitely love to file a class action lawsuit on behalf of all bank clients. The most outrageous thing is there's no way to OPT OUT of bank "overdraft courtesy". For that I'll have to pay for overdaft protection "products".... either way ******* money from people like leeches.
Unfortunately I can't find an attorney to represent me in court...
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Old 10-17-2012, 01:58 PM   #4 (permalink)
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That is tough, but there are plenty of sites to help you find an attorney. You can try your state bar's website, you can post your case for free on legalmatch, and a number of other resources. Litigation is a lot of work and class actions specifically are, but you could try posting your case here or going somewhere else.

Good luck maybe by taking some kind of court action you will at least get your money back. I don't think anyone is a big fan of banks so I hope you get the results your looking for good luck!
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