first of all i am in ohio. heres the deal. i started out with a whopping amount of $1.36 in my checking account. i recently deposited a couple of checks and then withdrew the same amount of money a couple of days apart. i deposited ($80) the first on a friday night then withdrew the same amount. over the weekend i looked at my account online and it was fine. then the next monday i did the same thing. deposit ($60) then withdrew the same amount. after i withdrew the money i looked at my receipt and saw i was now negative $38. we depsoited $40 back into the account. when i got home that night i looked at my account and it showed that the bank was holding $80. two days later on wednesday morning i looked once again online and the deposits and the withdrawls had cleared. then i looked later in the afternoon and there was an overdraft fee. i had no checks out either.
i have been doing this for a number of years now. this is the first time that i remember them holding any amount of money.
i guess my question is how can they allow me to me withdraw money if it is not available and then charge me an overdraft fee. is this legal?
thank you in advance