When will I get paid the proceeds from the lawsuit.

At the endof 2010, I was sent information concerning a class action suit against WebsterBank that was suppose to go to court in March, 2011.When can expect to hear the outcome of this suit

11. When will I get my payment?
For current Webster customers, Webster will directly deposit payments into customers’ Webster Bank accounts. For former Webster customers who submitted valid Claim Forms, payments will be mailed. Former customers who do not submit Claim Forms will not receive a payment. At this time there is no exact timeframe for payments to be made. Please be patient.

This is all I could find on the Webster bank settlement. I was in my local branch on Friday and asked them, and they had no clue what I was even talking about!

They are still doing this, the very thing they were sued for. And I had three accounts, made a claim, and have not yet received any payment.

Webster Bank is still continuing this practice, just this weekend they did this very thing to me and will only refund a portion of my money. I’ve sent several email to them asking to refund my money but they won’t, I don’t know where to turn to. I submitted a claim also and I have yet to receive a payment either.

how does one submit a claim or is it too late? thank you.

I am a current customer and have not received a payment as of yet!

I also have not received anything yet. They are still doing this and more! They claim it is because if you have a mortgage check going through, wouldn’t you want that paid instead of the smaller ones? If I put my mortgage through and did not have the full amount (I am thinking $1500 and more) shame on me. I would also have overdraft protection. I had another recent incident where I looked at my bank balance online. I showed a balance that morning (posted not pending) of say $20. A check in the amount of $400 cleared but I was charged $37 overdraft on that $400 check, even though the statement said $20 balance. I called and went around and around with the bank too many times, even I was thinking I would just give up…that is what they wanted. Here is the explanation (this is a bit long, sorry):
At midnight the $400 was there and so was the check. Sitting in someone’s credit card machine there were 2 small charges pending. These pending charges have not been batched out yet. The bank sees these as there for that day, even though the batch has not been cleared. Technically we are into the next day. The $420 was there to cover the check, that they posted at midnight. BUT, because the full amount of the 2 pending charges and the $400 check over drew my account when added together, they charged me the $37 fee for the overdraft on the check. The pending charges still were not put through the next day when I called the bank but I was going to be charged for them, too (this I did not argue). So that morning I have a $20 balance and 2 pending charges, a charge for an overdrawn check of $37 that was technically not overdrawn since it was posted leaving the $20 balance. This makes not sense and because I didn’t agree with them they thought I was stupid. How can you have a posted check clear and still have a plus balance but be charged an overdraft fee???? This sounds illegal and still a manipulation of funds to me. Just so I am clear all the way through, after all of this I did get the $37 back with the warning that this is how it is done and to plan on it. Right or wrong?

Well, here it is, the end of September 2011. Have yet to hear anything and Webster is STILL playing games.

Like many of the above comments, I too, have not heard from Webster yet. They have had sufficient time to send out the payments from the settlement. With all of the high speed technology, there is no excuse for such a long delay.

Ruby

I have not heard from Webster yet. In five months customers should have received some kind of response from Webster by now, October.

Ruby

Gobble Gobble…..its almost Thanksgiving….still no payment

THIS IS GETTING OLD…. THE WEBSITE DOESN’T WORK ANYMORE??!!!!!!! (WEBSTEROVERDRAFTSETTLEMENT.COM) WHAT SHOULD WE DO GUYS??!! WEBSTER KILLED ME WITH OVERDRAFTS IN THE TIME PERIOD THE SETTLEMENT HIGHLIGHTED! WHERE DO WE TURN NEXT?

joe, i realized the same thing! i was wondering what happened to the website. i would really like my payment asap! is there anyone we can call or contact about this issue??

i too was hammered with fees during that period and still no refund payment from webster bank,im thinking maybe we complain to the ct attorney general? any ideas would be appreciated

I have not heard anythingo from my bank about the overdraft settlement, i am a long time customer of webster bank , please have someone context me, my information is on file with the bank . thank you

I am a current customer and have not recieved a payment as of yet.

Im glad to hear I am not the only one that has not received payment. Has anyone been able to get through to them and what did they say?

We have not heard anything yet either and we are still waiting and it’s almost Christmas!

Christmas is around the corner, and still nothing! I wish we could receive payment before Christmas!!!!!

Well I’ve just tried the website and yes it is no longer in affect!..I think that we have been duped!! I still have not received any monies either!!..very disappointed and I think that I will be closing my account in the coming year!

I was just informed from Webster that the site has been closed b/c of the fact that the lawsuit has been settled. However, they did tell me that payments can start as early as January. There’s also a rumor going around that the site has opened back up so check.

Website has not opened back up yet. I e-mailed them about when the checks will go out and they told me that they have to go over the accounts. I think they are holding the money to get more interest on it and not giving it out right away. THEY REALLY ARE AWFUL PEOPLE. Greedy.

We are still having problems with them switching things around on our account. They wanted everyone to go paperless to see online and it always changes from minute to minute. Was given lawyers number by customer service and it is out of service. HMMMMMM

Why is it taking so long for the Bank to pay us? If the situation were reversed, we would be expected to pay Webster IMMEDIATELY!!!

U are so right….they would expect us to pay right awawy….do u know if anyone contacted channel 8? I think the tp dogs are stealing the money…I know plenty of co workers who have said webster did this to them….change ur account and leave webster….its only gonna get worse….

Still nothing here I think were getting. Screwed I have read all the comments and hope that one person said we could start getting payments in January I am no longer a customer so I will probably have to wait longer but I’m glad people r leaving comments so I know I’m not the only one that has not been waiting keep posting people it doesn’t hurt keeps people like me in formed

I recall reading in the original letter last year, that once the settlement was awarded it would be deposited in our accounts. Which is the ONLY reason why I’m still banking at Webster!!

Website is back up. Where is my money though!??? As many of you I’m still a Webster customer so I can have the funds directly deposited. Disgusted!

How about kelly mathena she started the law suit I wonder if she got her money or is she still wiating?????????

What is the website address, plz?

Has anyone received any payment? This is just rediculus.

There was a contact email on the website, so I emailed them to ask about payment… this is the email that I got back:

“Thank you for your email. At this time, there is no exact time frame for payments in the Webster Bank Overdraft Settlement. Webster is conducting a final review of all valid claim submissions against its internal records and will begin distribution once review is complete. For additional information regarding the settlement, please visit the settlement website at websteroverdraftsettlement.com.”

Hope this helps! (and I hope we get our money soon!)

I just heard that people should be getting their monies sometime after Feb. 17th. Hope that helps!! More importantly hope it’s true!!

Really hope that’s true because they are still posting funds this way, I just managed to get 5 over drafts fees in 2 days, because of 1 overdraft, and all the people I spoke to at webster were rude, and just kept cutting me off instead of listening to what I had to say. It’s obscene that they are still getting away with this method of posting, Finding a new bank this weeked. I’ve been with Webster for over 10 yrs and it’s been nothing but hassels.

Does anyone know exactly how much we are getting? Ive been a Webster customer for many years and they done this practice to me so many times!

Where did you hear that we were getting paid on or.after the 17th??

The bank told me about the payout timeframe. They won’t tell anyone how much their getting…I think it depends on how many fees you paid during that time and also what the settlement guidelines are/were.
Guys check out the “opt out” decision you can make with your debit card. If you don’t have funds they won’t put the purchase through and you can avoid that fee. Also, if they do put a debit card trans through and it sets you negative you don’t pay a fee if you “opt out”. I got this overdraft protection thing that protects my checking and it’s a lot cheaper than the stupid fees. I had a balance of $100 in it and i paid only $1.50 in a month interest for it….Pretty cool!!! What sucks is all banks are like this…They’re only out to make $$ and will find a way to continue to charge these kind of fees. We need to be schooled on ways to avoid it. They make enough $$ off us as it is. Check out the opt out and overdraft line of credit and see if that helps you. it sure as heck helped me!!

I got my payout finally!!!!!! Yay!!!

Well after all the work and agravation, I received $27.11 creditted to my account this A.M. I have no way
of determining exactly how many questionable O.D’s there were, but I was certain I wiuld see more than this!!!! Better Luck to Everyone Else…… Mark

Wait I closed my account after they took almost $250 in overdraft fees in one day. Am I correct in assuming that I am not seeing any of this back because I closed my account immediately after that and ran in the other direction?

I too, got $82.19 deposited today into my acct . a LOT less than I thought, because I thought I read that you were supposed to receive something like $20 for EACH occurence over like a 3 year period. Not trying to look a gift horse in the mouth, but thought it was supposed to be a lot more.

Webster pays $2,800,000 to a Settlement Fund that will be used to make payments to eligible Settlement Class Members as well as to pay: (a) attorneys’ fees, costs, and expenses; (b) incentive payments; and (c) third party costs to provide notice and to administer the settlement.

Those who filed a Claim Form are eligible for refund of up to twenty (20) eligible Overdraft Fees. An eligible Overdraft Fee is any Overdraft Fee beyond the first one on any given day incurred from April 7, 2008 to August 15, 2010. Such Overdraft Fees will be reimbursed at an amount of $20.00 per overdraft fee. In the event that claims made exceed the value of the net Settlement Fund, each claimant would receive a pro rata share of his calculated loss.

$360,000 of the Settlement Fund will be set aside for automatic distribution to Settlement Class Members who are current customers of Webster on the date of distribution and who have not submitted a Claim Form. In addition, if the claims made do not exhaust the net Settlement Fund, the remainder will also be distributed evenly among such existing customers. The automatic payment will be divided evenly among the number of current customers who did not timely submit a Claim Form. Former Webster customers who did not submit a Claim Form will not receive an automatic payment.

I was so happy to receive my payment of $100.95 today! Like many of you, I did think I was going to get back more, but I am happy that I did receive something. Hope everyone else is making out okay and enjoying their long-awaited payments!

I also received my payment of 188 bucks..thought I’d get more, but alas that was it.
And now tomorrow I can ever so happily change my bank to Rockland trust!!!
Thanx to everyone for all the feedback and for keepin us up to date,,,mucho appreciated

Can somebody answer my question? I closed my account out a long time ago but filed for a
claim because they still sent me paperwork for it. I think it’s a bit unfair to expect people to sit still with this thieving bank who steals money hand over fist just to get a mere fraction of it back. Are they mailing checks also?

I received $27 and change, as I wrote yesterday. After reading what others received I feel as though I’ve been ripped off. If anyone else received such a negligable payment, please state so in this column.

I had totally forgotten about this. Does the deposit from Webster say “miscellaneous NSF settlement” in your online transaction history? If so, I received $182.64, if not, I guess I need to call them and figure out why they deposited $$ in my account!

I too finally received my payment – of $8.27!! Much less than he minimum of $20 per NSF charge….And worst of all, this bank has NOT changed it’s policy in the least. I was charged five overdraft fees this past summer, and talked to customer service about their supposed change in policy, that items would be paid as received, and not largest to smallest. I stated that the largest item wasn’t presented until the next business day, after the four other items already were presented to the account, or so it showed when I checked my account online. They denied that the other four items had cleared the previous day, and actually changed information on the account. I had fortunately made a screen print of some of these changes, and said enough is enough – reported them to the Mass. Attorney General’s office. They took immediate action (bless them) and I received a letter shortly afterwards from Webster. They were still claiming no wrongdoing of course, and the tone of the letter was decidedly snotty, and didn’t really address any of my concerns – but – they did refund all five overdraft fees, although in truth I was only really entitled to just four of them, which is all I asked for. Yes, definitely time to go to a credit union where it’s less likely that this sort of crap won’t happen.

Got a check in the mail over the weekend for about $50. I had totally forgotten about the lawsuit so its free money as far as I’m concerned. Although I’m sure I paid well over $50 in erroneous overdraft fees to Webster over the years.