Complaints

• Initial Complaint

  06/04/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I recently opened a new checking account. with ******** **** while retaining my old account at special metals. The ******** account had become my primary but I do have bills that still auto deduct from my old account. On May 31st I had signed into my account at Special metals federal credit union to check and make sure my balance was enough for my car payment scheduled for the 2nd of every month, and upon seeing a negative balance of -284.52 (including 4 $30 fees) I immediately signed into my ****** account to transfer money. The easiest way to move money between banks has been through ******. I transferred $800 to ****** from my ******** **** account and $786 to my special metals account (less ****** fees for immediate update) at 12:14PM on 5/31 the transaction was marked complete. Later that afternoon I used my special metals debit card at the atm to confirm the balance reflected and it did. However upon signing into my special metals account Monday June 3rd, I found 3 additional $30 fees had been deducted and my car auto-payment sent via ACH returned… THEN the deposit from ****** was notated. When I called special metals and spoke to manager, they told me that it took 2 days for the card balance to reflect on my checking account. As the additional $90 in fees now had my balance below what was needed for my car payment, I deposited another $98.25 (100 less fees) from ****** on June 3rd to cover the gap. It seems to me that special metals held the deposit to collect additional fees of $90. Changes on my ******** account for the debits reflect same day. It should not be my responsibility as the client to have to pass $90 for their archaic and delayed system, they allow someone to review changes manually and I believe the order inputted was intentional as to garner additional fees. I accept accountability for not realizing I had my old account associated with ****** but I’d like the $90 in additional fees after 5/31 returned.

  Business response

  06/20/2024

  I received a call from ******* and she explained to me about opening a new checking account at ******** ****.  ******* stated she had made a transfer through *** *** to her checking here at Special Metals however, her *** *** account is linked to her debit card with Special Metals and I explained to her that there is a 2 day process for debit card transaction to clear accounts.  We do not hold any transactions, this is simply the process due to us not being on real time processing.  ******* never asked me to refund her fees in fact when I explained to her the 2 day processing she seemed to understand the process.  I also suggested to her for future transfers that she use the routing and transit # along with her account # here to speed up the deposit.  

  The $ 90.00 fees were credited back to her checking account with Special Metals on 6/11/24.

   

  Thank you

  Michelle

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