When opening a check account, the holder of the account signs a document that outlines all of the charges that can be imposed. If the 7 day recurring NSF fee was stated in the document, the account holder can not claim ignorance.
Yes, a bank can charge nsf fees to anyone they want to. You may want to check with other banks, and ask about their nsf policies. THE BANK CAN CHARGE NSF FEE TO THE PRESIDENT OF THE US.
Yes. There are individual state laws which dictate the amount of the NSF fee. Most businesses do have the disclaimer posted in their business. Large businesses like Wal-Mart do not, and are still allowed to charge NSF fees.
Probably if you knew or should have known about the fee before the NSF happened. If you could not know then you may have a basis for dispute.
NSF checks and fees can usually be discharged in BK. Refiling? or reopening? Once a BK has been filed,it can sometimes be amended. There will be an additional fees.
It is legal for the bank to charge a fee for every nsf check on the account. Now they can't charge you an nsf fee that's higher than what they would charge anyone else. But, if there were 10 nsf checks, then they can (and will) charge 10 nsf fees. By the wording of the question "without contacting you to see whats going on with the account" I assume you mean do they have to call you to discuss this nsf problem? If so, then no, they don't. They did send you notices of the nsf/fee, right? Most banks will not contact you about NSF fees, so you may have them accumulating for days. Also, if you run out of money, you can often still withdraw money from an ATM, which will also generate a fee. It is up to you to track the money in your account. It is a tough lesson to learn, but you can go to the bank and ask for some relief in fees, if this has not happened to you before. Set up a savings account to be tied to the checking account so that you do not get caught in this bind again.
Non-sufficient funds... It means put some money in the bank or you'll be paying a lot of fees.
A NSF (non-sufficient funds) check occurs when a bank account does not have enough money to cover the check amount. When the check is presented for payment, the bank will reject it and typically notify the payee and the issuer. The issuer may incur fees from both the bank and the payee, and the check may be re-submitted or pursued for payment through collection efforts. Additionally, the issuer's account may be flagged for future NSF incidents.
National Sanitation Foundation
Fee income is the income that is generated off products such as NSF or Overdrafts, account service charges, etc. These fees are generally pure profit and very lucrative to banks
You can directly deposit money into your Prepaid Rushcard and it works just like a checking account. There's no need to worry about NSF fees and it can be used world wide.
an NSF cheque is often called a "bounced" cheque
The motto of NSF International is 'The public health and safety company'.