Banks and credits unions across America, including Astoria Bank, are facing major criticism for allegedly charging improper overdraft fees on consumers contending with overdrawn bank accounts.

Even though it is common practice for consumers to open checking accounts with banks or credit unions, consumers have been complaining of being overcharged with overdraft fees.

Complaints of transactions being improperly indexed have also been stated.

One of these banks is Astoria Bank, a prominent financial institution operating primarily in New York with 85 banking offices and 117 ATMS throughout New York and the District of Columbia.

As the second largest thrift bank in New York, it also has established branches in 13 states and serves thousands of customers on a daily basis.

However according to MyBankTracker.com, Astoria Bank has been garnering negative feelings from customers due to its overdraft protection policy.  The website reports that Astoria Bank ranks high in mobile banking and financial health, but only fair to poor in customer service and bank fees.

The overdraft fees charged by Astoria Bank are between $30 to $35 per insufficient fund fee transfer, with customers complaining that the bank either improperly charged the overdraft fees or that the fees were charged when there was sufficient money.

Astoria Bank’s Overdraft Fees

Customer Fran C. had posted her experience of overdraft fees with Astoria Bank on MyBankTracker on Oct. 06, 2014.

According to her story, her gym received their monthly payments late on two occasions because the bank allegedly would not release her funds before the gym’s routine collection date.

She was charged with two $35 overdraft fees as a result.

Despite repeatedly speaking with Astoria Bank managers, Fran was told it was the gym’s fault and that the gym was the one who should reimburse her $70.

However, Fran’s gym gave her documents stating they tried to debit the monthly payments but were declined by the bank even though there was money available to cover the charges.

Fran then presented the paperwork to the Astoria Bank manager, to which the manager responded the gym was “lying” to her and she needed to settle the charges with them.

The experience ended with Fran not being reimbursed $70 by the bank, and was told this could have been avoided if she held a bank account with a higher balance.

Before this experience, Fran had enjoyed using Astoria Bank but has since changed her opinion since the bank has been allegedly “taking advantage of those who are not rich with high balance accounts.”

Fran’s experience was particularly unfortunate as overdraft fees are normally only charged to overdrawn bank accounts.

Overview of Overdraft Fees Problems

Overdraft fees are the charges banks impose on customers when money is transferred from a different account to the insufficient one to cover a purchase.

As of Aug. 15, 2010, it is now illegal for financial institutions from charging overdraft fees to customers unless they opt for overdraft protection.

Customers who are overcharged or had their purchase orders improperly indexed may be eligible to file an overdraft fee lawsuit. Potential claimants should contact a specialized lawyer to determine if they have an overdraft fee lawsuit.

ATTORNEY ADVERTISING

The choice of a lawyer is an important decision and should not be based solely on advertisements.