Bank Fees and Social Security Disability

This is a discussion on Bank Fees and Social Security Disability within the Credit Cards, Banking, Securities forum, part of the Other Business & Finance Law Issues category; Florida Is anyone besides Social Security, the IRS or a state taxing authority able to garnish or otherwise have access ...

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Old Mar 25th, 2010, 09:51 PM   #1
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Confused Bank Fees and Social Security Disability

Florida Is anyone besides Social Security, the IRS or a state taxing authority able to garnish or otherwise have access to my Social Security Disability payment? I am permanently and totally disabled and have my checking account with Bank of America. My account became overdrawn and they charged me an overdraft fee of $35. I received a notice that after five business days from the date of the notice I would be assessed an extended overdraft fee of $35. The notice was dated 3/17/10. On 3/24, the fifth business day, I received my unemployment benefit for $264. The bank took the amount of overdraft and took $35 for the first fee. That left me $55.04. So, I scheduled payment for my water bill for $47.95. That would leave me a balance of $7.09. On the same day, 3/24, the bank charged the extended overdraft fee of $35. This put my account back into the red. Now I'm afraid they're going to charge me more overdraft fees and since the only money I have coming is my Social Security Disability check, they'll be taking the money from that check. It is direct deposited. I want to know if they can do that? If they can, it's going to cost me $140 in fees for what amounts to a $200 loan over a period of approximately 21 days since they paid the monies that were due from the account. Is this really legal or is it usury?
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Old Mar 25th, 2010, 10:34 PM   #2
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Default Re: Bank Fees and Social Security Disability

I wish to inform you that the Overdraft fees charged by the bank is as stated on their Website. However, you can bring the circumstances of this case to the notice of the Customer Service and the Local banking Center and request for a waiver and refund of fees. You can also seek an Overdraft Protection facility and speak to the customer service about it as your Social Security Disability check is deposited into your account on a regular basis.

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