I have a checking account with Chase bank. I recently deposited a somewhat large check into my account, when I deposited the check they said it will likely take 4 or 5 business days to clear - no problem I expected that. So they put a hold on the check - once again no problem - as I had plenty of money in the account to pay for the checks I had written and was going to be writing. However, someone with the bank mistakenly put a hold on my entire checking account.
So every check that I write, bounced - insufficient funds. I started getting these notices from my bank indicating that I had insufficent funds in my account. They were unable to determine what was going on, so I finally had to call and we got it straightened out. But in the meantime several credit card accounts were past due as were other things that I had paid. My credit score is still be lowered as we speak about this, I have incurred numerous late fees.
Sure the bank has offered to pay me for any late fees and they have written a letter that I can send to my creditors indicating it was a banking error......but at best it is a huge pain in the butt to make all the calls and try and get it all straightened out. Ayt worst I don't know if I will be able to get my credit score back where it was or whether I'll be able to get my interest rates as low as they were.
Overall I cannot think of a worse thing a bank could do to someone.