Bbt what is a balance adjustment




















OFM contacts the paying agency to alert them of the return. The paying agency is responsible for contacting the vendor, requesting updated bank account information, as appropriate, and determining if the payment will be reissued. Reversals must be in compliance with ACH rules which designate three valid reasons to reverse an entry:. ACH reversals are not guaranteed as the financial institution can reject the request due to the account balance being less than the requested amount or funds being otherwise unavailable.

If this occurs, the financial institution sends a negative ACH return which reverses the provisional credit. The paying agency must reverse the previous cash receipt entry and is then responsible to recover the erroneous payment from the payee. When OFM initiates an ACH reversal, DES is also responsible to ensure notification of the reversal occurs in accordance with ACH rules which require the payee be notified of the reversal and the reason for the reversal no later than the effective date of the reversal.

The effective date of the reversal is one banking day following the reversal request or the effective date of the original ACH payment, whichever is later. These procedures cover items returned or adjustments made by the bank for the following reasons: Non sufficient funds NSF checks Missing signature s on check Stop payment placed on check Account closed Deposit adjustment found during bank's proof process Other reasons causing return of checks or adjustments to the state's bank accounts.

Documentation for deposit adjustments. Date of check and bank upon which it was drawn. The date of the initial deposit of the check subsequently returned and the Revenue Source and Sub-source if applicable codes or other account coding to which the check was initially credited.

The date and coding of the subsequent redeposit of the returned item, if such subsequent collection is actually realized or the number identifying the Cash Receipt Journal Summary A8-A reflecting the subsequent redeposit. Deposit adjustments - treasury and treasury trust accounts. Deposit adjustments - local accounts. The receiving financial institution may initiate a return because: The payee bank account on the ACH transaction is closed, frozen, or invalid, or The payment is refused by the payee.

The paying agency must release the transactions for processing in AFRS. Looks as if I am owed a large check as deposits were made the day of the fees. So I filed a complaint as to why my atm is telling me a different balance then my available funds. Also you can't pend a direct deposit. I have figured out they organized this system to hold and pend post and deposits purposely this so you over draft. Bc there is not other explanation.

Frank Branton Send email. They haven't posted mine. Fraudulent activity I'm interested in a class action suit. Now what? Gas is crazy and so is food and I'm falling behind fast and I can't catch up because BBT keeps overdrafting for.

Can't get a break. James Send email. Over the years I have paid around a couple of thousand in overdraft fees. The first time I figure it was due to my own irresponsibility.

But then it happened again, and again, and again. And in one instance I was slammed with 10 overdrafts in one day. It was around this time I started to pay closer attention to my banking practices and chalked it up to my own irresponsibility.

I was told that deposits gets credited to accounts first and then withdrawals. But I'm on direct deposit with my job and have been for years. That's when I realized they were processing my direct deposit after withdrawals forcing my account into overdraft. In that case I had checked my bank statement prior to using my debit card and saw I had sufficient funds and went to make a purchase.

I came home checked my statement and saw I was in overdraft. I was extremely perplexed. The representative explained to me that the reason why my account went into overdraft was because I didn't have sufficient funds in my 'Current' even though my 'Available' showed that I did because of a recent deposit. So they charged me overdrafts based off my 'Current' balance instead of my 'Available' which is completely backwards from how it should be.

Fast forward to today and I have been noticing that money has been disappearing from my account. I would call the customer service and they would spin me around in circles doing all of this math I can't see and saying that the balance is correct. And here recently I've noticed entries into my online banking that reads 'Balance adjustment' where it would add or subtract funds from my account with no explanation as to what this 'Balance adjustment is'.

Lately, I've been noticing these 'Balance adjustments' has been taking more money out of my account without explanation. And when I go back to look at it an hour later that entry and the amount is gone, but the amount it said I was adjusted is removed from my account without explanation. And I also believe that they are stealing minuscule amounts of money through the form of 'Balance Adjustments' without offering explanation as to why they're taking money out of customer accounts.

I am contemplating a lawsuit. Mike Lawter Send email. They continued to charge fees even after a below zero balance. What would you do Stacey Send email. Stay away Cash is always good I immediately called the branch and was told the same old speech about 'deposits made after p.

I understand that with a check, but CASH!!! I was told that the Manager could not do anything and would get with the Regional Manager for authorization, if any, to refund the fees. I never heard from anyone that day and low and behold I again called the branch, spoke to the manager, this time in tears. Got the same speech..

Never heard anything that day either. My husband's entire pay check that had been direct deposited into the account had been totally eaten up! I called the branch again, same story, never heard so I went to the branch. Unbelievably, I got the same story. Long and short, I sit here right this minute STILL waiting to hear whether or not my life can go on, if I can eat, pay my rent and just have gas to get to work on Monday.

Send email. When I begin my accounts, I specifically told a customer service representatives that I wanted my checking and savings account to be linked for overdraft protection. A couple months later, I was out of town making purchases. Normally I will transfer funds between accounts. On this occassion I was unable to do so but I knew or thought that funds would automatically be transferred over "because I was suppose to have overdraft protection".

I although I did not write checks, I used my debit card as "a credit transaction" due to their program "Visa Reward Points" if you use credit and instead of debit. I contacted the bank, and they stated that I had not signed up for overdraft.

I am very itelligent person and worked at a bank for many years. They did not sign me up for overdraft protection not myself. What is the point of having overdraft protection if I am going to be charged by the bank for the service. Suppose I am ill, in a hospital unable to transfer the money?

Venice09 Send email. Thieves Lame comeback. Ellen67 Send email. Thieves Yep, there you go ASSuming again. Thieves You're just jealous of anyone with more knowledge then you. Thieves Oh looky at the message I received.

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