minimum_wager08/04/2011Steer clear of this bank. If y...
Steer clear of this bank. If you are a hard earner in these rough times, This is not the bank for you. This bank charges $3 per transaction if you have money in your savings for overdraft protection. I have direct deposit and this bank holds the deposit and posts pending transactions first so they can have your overdraft charge or NSF charges. I was with this bank for 2 years and all its been is overdraft after overdraft after overdraft. Just recently, With a balance of $6, a pay pal...view more transaction posted in the morning for 15.35. Before it posted, I was there first thing in the morning to post a $40 deposit. My account had a $6 current and available balance. After it posted, both balances were $46. The lady told me that even though the pay pal charge didn't post before my deposit that I was subjected to a $29 re-post debit charge and that they wouldn't take it off. That is 3 hours of work taken away from me for no reason. They didn't even care that I had pawned a personal item to come up with the $40. This bank is a load of crap. Avoid it before all costs!!!view lessShare Review
claimed iconBusiness Response.09/21/2011
Thank you for posting your comment. We appreciate your candied review and we would like to address your concerns and provide clarification.
InvesTex is a credit union that offers similar financial services as banks. Credit unions serve members which are the actual owners. Members have a voice. InvesTex encourages member discrepancies or disagreements be brought to the attention of Management. Management has no record of this individual’s experience.
All fees and charges at InvesTex are disclosed to members upon joining the InvesTex. A fee of $3 to protect further costs from overdrafts is a normal practice in the industry. This fee is significantly less than the cost of an insufficient fee as well as the additional costs of merchant return fees.
InvesTex Credit Union posts all direct deposits in accordance to ACH rules. ACH audits are performed annually at InvesTex with no exceptions. Debits on member accounts (ACH, debit card, checks) that transact before deposits are made will result in either an overdraft or return.
Most financial institutions (including InvesTex) provide consumers the opportunity to make a deposit so an inadvertent debit is not returned preventing merchant return fees. A fee for this courtesy is appropriate and accepted by most consumers to avoid further costs and embarrassment.
Again, thank you for your comment and we hope to serve you in the future.