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ATM Withdrawal - NSF Fee

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Question: 
I have a question on the compliance of a NSF fee. I have a customer who had an available balance of $170 on a Friday. That day, after cut over, the customer came in and withdrew $60 from the ATM. This gave her an available balance of $110. That night a transaction was posted in the amount of $160, bringing her available balance to -$85, including the NSF fee. On Monday, the $60 ATM withdrawal posted to her account and we charged another NSF fee for that transaction. Being that she had sufficient funds for at least one of the transactions, can we allow for this? It seems that this is because of the banks posting procedure, not due to customer negligence.
Answer: 

This is very much like one of the practices that the agencies are planning to designate an "unfair and deceptive act or practice" in their new proposals.

First published on BankersOnline.com 7/21/08

First published on 07/21/2008

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