How to Switch Banks (and how US Bank is saying that my friend owes $1,800 in overdraft fees)

I know many people are considering switching banks because of all of the new fees and everything else that’s going on.  My friend is also thinking about switching from US Bank because they just told her and she owes $1,800 in overdraft fees.  She told me that her and her BF have NEVER over-drafted in their lives and she’s trying to fight it but the bank said that in order to help her she would need to pay $6 a month for each statement for the past couple of years in order for them to analyze her statements.  I don’t understand why she has to pay this, when they are the ones who need to analyze it? Isn’t that crazy? She’s tried talking to so many people but no one will help. Any ideas for her? She also is going to switch after this whole debacle, but they already took the $1,800 out of her bank, so she wants to wait until she clears that up. I feel like this should be illegal.

Anyways, here are steps to switch banks from Five Cent Nickel:

  1. Make up your mind and find a new bank.  Really think about this chance and how it will affect you, and also what you like about the bank you are now considering.  Make a pros and cons list.
  2. Change your direct deposits. Contact whoever at your work handles this and switch it. Then for the next couple of pay period, make sure you watch this closely.
  3. Re-establish your other accounts that link up to your old account.  This can be savings, Paypal, bills, and so on. Check any auto-debits, insurance premiums, and so on also.
  4. Get new checks.
  5. Sit and wait. Make sure all of your payments and anything else linking up with your new account is working.
  6. Close your old account. I would wait a little bit before closing your old account. The article says a few months, and I think that’s a good amount of time.  You want to make sure that you didn’t forget anything.

Do you have any other tips for someone wanting to switch?


  1. says

    They just TOOK $1800 from her account?!?! I would have went ballistic! Seriously! As for switching, ask friends & family who they bank with and if they'd recommend them! That's a surefire way to find out who's good, and who's not! 😉

  2. says

    Yeah they just took it! Isn't that insane? And she is going ballistic! How could anyone ever rack up that much in overdraft fees? And I know she hasn't overdrafted, so I feel so bad for her.

  3. says

    A certified, return receipt letter to the President and CEO of the bank with the same as a cc to the manager of her branch might help. Plus a call to whoever does consumer problem stories in her location. Plus a call to the FDIC and state banking commissions. Dare I go on?

  4. says

    I couldn't even imagine. I have my frustrating days with our banking system, but what I hear you guys going through is downright nuts. I feel for your friend.My only tip would be to leave some money in the other account after you've gotten the direct deposit switched over, just in case some of the bills don't transfer properly right away. You don't want to have to fight over more fees while you're trying to close the account.

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge