May 21, 2021
If your bank okays your debit transaction because you have sufficient funds in your account, can it later charge you an overdraft fee for that same transaction? The complaint for this transaction alleges that UMB Bank, NA authorizes debit transactions but later, at settlement, may claim there are now insufficient funds in the account and charge the customer an overdraft (OD) fee. According to the complaint, this violates UMB’s account agreement.
Case Event File: UMB Bank Debit Holds and Overdraft Fees ComplaintRelated to: UMB Bank Debit Holds and Overdraft Fees Class Action