Liberty Bank of Iowa
Doesn't honor contracts, charges excessive overdrafts fees even in the face of broken contract terms

DO NOT DO BUSINESS with Liberty Bank of Iowa, headquartered in West Des Moines Iowa with branches in Waterloo, IA, Cedar Falls, IA et al.

I signed a contract with the Waterloo branch of the Liberty Bank of Iowa stating that they were to never let a check or ACH of any kind get past my account that would cause me to have an overdraft. But in Late February the Waterloo branch of Liberty Bank of Iowa let an $80.00 check go through when I only had a balance of $0.94. I made several subsequent deposits to try to keep up with their constantly overdrawing my account with their $30.00 fee that it cost me $120 in overdraft fees because they let the first check go through. I brought this to the attention of a manager at Liberty Bank of Iowa and she said that when a payment comes in a certain way, they are unable to stop it. Unable to stop it?!!! OK I said, lets look at these 2 payments, they both came in the same way, you let one go through and the other you threw back, so I guess you can throw them back if you want to.

And the real kicker was the day I knew I was going to be overdrawn so I put $40 cash in the night depoitory rather than the ATM. Because it didnt go through the ATM it didnt count until the next day so they gave me another $30 overdraft fee. I could have put an empty envelope in the ATM but instead had put cash money inside the bank and that didnt count. So Liberty Bank of Iowa overdrew my account again, BUT because the overdrawn amount was less than $5.00 they werent going to charge me another overdraft fee. But if Id be overdrawn by $5.01 they would have charged me. So because I put $40 cash inside Liberty Bank of Iowa, it cost me $30.00 and nearly cost me $60.00!!!

It all boiled down to Liberty Bank of Iowa inconsistently applying arbitrary rules that they decided on the spot and had nothing to do with standard practices.

My account was closed and 2 refunds came back to Liberty Bank of Iowa and rather than throwing the money back to the issuer, as any bank should since my account was closed, they kept the money and were intending to keep my money for 45 days, just to make sure that the issuing agency didnt issue me a replacement check. I believe at this point Liberty Bank of Iowa was becoming vindictive. I told them all they had to do was talk to PayPal and tell them that my account was closed so that Paypal could give me a payment. But the bank said that was none of their business. After much arm-wrestling with Liberty Bank of Iowa I finally got my money. They wanted to charge me $5 for drawing a check, I told them I wanted cash. Fees, fees, fees.

They did not give me back one single fee, not even one to try to appease me.

Offender: Liberty Bank of Iowa
Country: USA   State: Iowa   City: Waterloo
Address: West Des Moines, IA (headquarters)

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