How to Build an Overdraft Fee Case Against PNC Bank

Your bank assesses an “overdraft fee” when your account has insufficient money to support a transaction or service. It would help if you took immediate action once you discover an arbitrary overdraft fee in your account. Overdraft fees are a significant source of income for major financial institutions like PNC. According to recent studies, 9% of consumer accounts paying ten or more overdrafts amounts to over 80% of all overdraft revenue annually. PNC and other large banks rely on their most defenseless clients who are already trying to make ends meet to boost earnings for their stockholders. Read on to learn more about building a strong PNC lawsuit. 

Who is Eligible to File a PNC Lawsuit?

Studies show that every item overdraws your bank account by more than $5 is subject to a $36 fee from PNC. When several overdrafts are imposed on customers for the same batch of transactions, these fines may quickly mount up. However, unfair PNC bank overdraft fees are a major source of stress for many of its clients. You may, therefore, be eligible for a PNC Bank lawsuit if:

1. Your Bank Rearranged the Transactions

You could hire an experienced law firm and initiate a class action lawsuit against PNC if you were charged overdraft fees due to transactions that PNC changed. Victims may be entitled to financial compensation for these unscrupulous charges.

2. There’s Returned Item Fee

Once you make a transaction or purchase but need more account balance to support the purchase, you will be charged a returned item fee, commonly known as a non-sufficient funds (NSF) cost. Research shows that every transaction that results in an overdraft of more than $5 is subject to a $36 fee from PNC. You may be eligible for a PNC lawsuit if the bank imposes a higher return item fee than the normal one. 

3. You are on an Overdraft Protection Transfer Fee

When you have enrolled in overdraft coverage and PNC permits you to debit your account by moving money from an eligible linked account, overdraft protection transfer fees are most frequently charged. If you have enrolled in the program, PNC Bank will impose a $10 overdraft protection transfer fee rather than the standard $36 overdraft cost. You must link an eligible account to allow overdraft protection so that in the case of an overdraft, the bank may move funds into your primary checking account from your linked account. An acceptable connected account might be:

  • PNC credit card
  • Money market account
  • PNC savings account
  • Personal or home equity line of credit
  • Secondary PNC checking account

However, you may be eligible for a PNC lawsuit if the bank has imposed a standard overdraft fee rather than an overdraft protection transfer fee. 

Is It Possible to Make An Overdraft Lawsuit Against PNC?

Banks are obliged to notify you whenever the charge amounts change. Nevertheless, they are not compelled to do so while you are constantly being charged. Thus, you can institute a PNC lawsuit if your bank’s actions toward you were unjust.