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Check Card and NSF Fees
Posted by VT on 08/13/2005
SAN FRANCISCO, CALIFORNIA -- It seems that Bank of America's online system is designed to trick you into paying high service fees... The "pending transactions" are intentionally cleared out each day, and no evidence of the purchase can be found. Isn't the transaction still pending? And the funds from purchases made by the check card are not held. By viewing the online statement giving the balance and pending transactions, we were "tricked" into making more puchases which eventually meant that when the payments finally appeared on our account, they came with a bunch of hefty $31 nsf fees. It is not nice to know that BoA will authorize a purchase (even with a normal debit card) of like $18 when the funds would not available in the first place, and then take their $31 service fee.

I have used a debit mastercard before with a different bank, and the funds were held from the time of the authorization until the time the transaction is posted to the account. BoA's intentional clearing of the "pending transactions" and not holding any funds is obviously designed to generate the service fees that are making them rich.

When calling their customer service to try to get an explaination of their policies, and talking to a *manager*, it was clear she was reading from a script. When I interrupted her to ask if she would just answer my simple questions, she said something like "well I guess I can't help you" and hung up!

This is one of the worst "bank robberies" I have experienced, and I will be happy when I find a new bank.

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Posted by CrazyRedHead on 2005-08-13:
Sounds like you don't know how to manage a checkbook. You should write the transaction at the time it happens not after you have spent all of your money. Don't rely on the online banking system or the telephone system to give you an accurate telling of your balance. I learned this the hard way. You need a class on how to manage your checkbook the right way.
Posted by Anonymous on 2005-08-13:
Um, they send you a statement every month. Dont' you bother balancing it when it arrives? Probably not. You goofed up your account & now you expect the bank to pay for you mistake. Silly, silly customers. You never learn, do you?
Posted by Anonymous on 2005-08-13:
That s/b YOUR mistake.
Posted by CB Baby on 2005-08-14:
You really expected sympathy from anyone here reading your plight? YOU and YOU alone have to be responsible for making sure funds are in your account BEFORE you perform a transaction. Key word...RESPONSBILITIY! Did you or did you not learn how to add and subtract in elementary school?
Posted by QContinuum178 on 2005-08-17:
You need to enter your debits in your checkbook when you make them and consider them gone. It's irresponsible record keeping to write them down only after they've cleared the bank and still keep spending money in the interim.
Posted by DavidD on 2005-09-21:
Oooh, I'm feeling a bit outnumbered here being the only non-BofA employee posting a follow-up on this one. There they go again with that "check register" jargin. Working at a bank, you'd think they'd know that check use is all but gone these days (ask a merchant how many checks he gets as opposed to what he used to get). Therefore almost no one carries a check book anymore. Hence, no check register. Try this... Pretend you are not a current BofA customer and inquire about online services. They will tell you it does everything you can imagine for you. But they never tell you it can't keep a register for you. Then when they start their adjusting of your transactions to confuse you into paying them fees, hey, it's your fault because a manual check register could've done what their online services can't!
Thanks for exposing their posting-unposting scam here. It's their biggest income source! You didn't really think online banking was "FREE" did you?
Posted by jestep on 2005-10-23:
While I do see the irresponsibility in the claim, I work for a credit card processing company and I know the way the system works. BOA knows that you dont have the money, and they intentionally allow you to make the purchase so that they can collect an overdraft fee. WAMU and most other banks are the same. In my opinion it is a crime, but the FTC does't have the ability to regulate corporate computer programs like this. Banking computer systems are designed to get the most mney from their customers as possible. Everything is processed favoring th bank.

The only advice I can give, is get rid of BOA, they're the worst anyway, and watch your account better.
Posted by kingmd75 on 2005-11-19:
Hey, I bank with BOA and I don't understand how some of you are suggesting that the bank is deliberately allowing people to spend money they ought to know they don't have. Yes, to the OP, the pending transactions do disappear from the pending transaction section, AFTER they drop down to the Posted transaction section. I use the online banking to balance my checkbook and have never had a problem with it. Except my own errors of forgetting to right debit purchases down. Why would anyone think online banking means you don't need to keep a manual check register? They give you one with your new checks when you sign up for an account. They shouldn't have to hold your hands and teach you how to balance it.
Posted by blaze1234 on 2005-12-23:
I agree that BofA is intentionally making money with their online "Houdini" tricks. Most transactions (excluding online/mail order) appear in 'pending' immediately. Most will then drop into the statement after a day or so. However, some will disappear from the statement completely, only to go directly into the statement a few days to a week later.
I pretty much keep a tight lid on my BofA account and it's balance. I firmly believe in keeping the check register up-to-date. I get into trouble with buying gas. Since the price of gas has gone up, gas stations are slow about refilling the receipt paper in the pumps. I'm not always able to go inside to have one printed. I usually make a note, sometimes I don't. BofA makes the transaction disappear. In short, I end up believing I have $35 more then reality. If I make 7 $5 purchases, they bill me $35 for each purchase - that's a $245 fee!!
I spoke with several reps at BofA about why this happens. I got a "big bank" answer. Basically they say with gas stations they are only required to put it under 'pending' for a couple of days. After that, they *DO NOT HAVE TO* keep it listed. And "No, we will not (and do not) refund our fees."
I believe BofA has the ability to keep purchases in the pending section until posting. I firmly believe they are banking on customers forgeting purchases in order to charge fees. This should be illegal to the highest degree. If they made $245 on a $35 loan it would be a crime.
Posted by sweetpineapplekitten on 2006-01-10:
I agree with you 100%! They got me too with that 31.00 NSF!
Posted by peteo on 2006-01-20:
BOA is the worst bank I have ever dealt with. Never once had a problem with fleet or bank boston, but nothing but problems BOA. They seem to love to fool around with debt charges, removing them from your account and them posting them days later to get you to over draft. I cant seem to get any one there to tell me how long their "holds" last. Some BOA employees say 24 hours and then just this week they are now saying 3 days because a law changed. With fleet the "hold" would never come off unless you called fleet up and asked it to be taken off or a large amount of time passed ( couple of weeks). Now I only write 1 Check a month so I do not keep a ledger and rely on atms/online banking to tell me my balance (just like their AD's suggest you can do) So here's what can happen to you if you have a BOA account (which I believe is totally Un-ethical if not illegal) You have lets say $700 in your account. you write a check out the 1st of the month for rent for $600. SO you know you have $100 to spend. over the next week you spend $100. But your account still shows $680 dollars left because 4 of the transactions "dropped" off and disappeared from your account. You check online and atm and you think you really have some money left. So you go spend $10 of it. Then next day you look at your account. The check comes in along with the 4 charges that got dropped off. Now here comes the fun part:
You noticed that your check bounced why? because the bank put all if the money you had in your account towards the check and there was no money left for the 4 "dropped off" charges. so they charged you 4 x $31 = 124 in FEES. so that makes it so you do not have enough money in your account to cover the check. Yes this happened to me.My balance went to -a negative amount. The next day they returned the check and charged me an overdraft fee for the check even thought they didn't cover it!! So i was out was 155 dollars plus a bounced check all for being over $10 which I would not have been if BOA held the money to cover my transactions that they approved and took off for whatever reason.
So you can see why I think BOA are crooks.
Posted by zing on 2006-09-14:
I too am just being ripped off by BofA. Have to find another bank, once I am through this saga. I deposited some checks last Friday evening in an ATM, and when I checked my account online on Tuesday evening, the funds were already available, and posted to my balance (the "pending transactions" were empty). So I went to the bank, and had the bank manager do a wire transfer that I was planning to do after the checks had cleared (the amount of the WT was about 75% of the amount from the checks). The bank manager checked my account, verified that the funds were "available", and sent the wire transfer through.

To my chagrin, the next day, I see that they are showing a negative balance. AFTER the bank manager had sent out the wire transfer, the bank then put the checks on "hold", after previously declaring them as "available" and posted to my balance. And they claim that the checks will be cleared only next Wed (i.e., 1.5 weeks, in this age of electronic checking). Till then, I am bracing for bounced checks, OD fees, bounded check fees from other institutions, and a big mess.

BofA customer service, as well as the same bank manager who processed the wire transfer (even she had no inkling that the checks were not yet cleared), now refuse to help me on this, since I went ahead with the WT only since their database showed the funds as "available". They offer to refund the OD fees later, after they will be posted to my account, but no means to expedite the check clearance, so that I can be out of this hole with minimum damage. Instead they want me to take a cash advance from my credit card, and slap me with the big cash advance fees and finance charges.
Posted by Anonymous on 2006-09-21:
You are absolutely right - Bank of America does make it deliberately deceptive. I had Washington Mutual previously and all transaction were posted immediately - debits, transfers, bill pays - and you could easily manage your account using only their online banking. Bank of America is totally different: all debits, transfers, and bill pays are posted as pending, usually for a day or so, and then there is ALWAYS a period of anywhere from 12 to 24 hours where transactions are not listed AT ALL: not as pending and not as posted - they are not visible.

What it means is that the online banking system of B of A is useless for managing your account, you are forced to use some sort of other register, be it Quicken or a piece of paper. Bank of America could easily make the online system real-time and useful, I know, because Washington Mutual is able to do it. There can only be one reason that BofA does it this way, and that is to deceive people who don't keep separate registers (I do now, because I have to, I didn't have to with WaMu) for the purpose of generating bank fees. There can be no other reason! If there is a legitimate reason, someone please enlighten me - don't say I should have kept my own register: of course with BofA I must, and I do.

Explain to me why WaMu is able to make it realtime, but BofA can't seem to.

Another plus of Washington Mutual: online bill payments funds are immediately removed from your account and then sent to the payee as a check from a Washington Mutual bank's own account. BofA, when it cuts a check to mail with billpay leaves you responsible for the check until the payee cashes it - again, for no other reason than to generate NSF and overdraft fees based either on a customer's carelessness with their balance or the intenional confusion generated by their online system. I started getting messages like "check #5004 was sent to so-and-so" when I didn't even know I had checks in that range.

Bank of America could easily make things less confusing and clearer, and they could change the way their system operates; again, I know they can, because I've seen Washington Mutual do it; however, they don't, for the purpose of generating fees.

Those of you who are responding by saying "you should keep your own register" are missing the true nature of the complaint here.

(the reason i don't have a wamu account, as you can tell I prefer them, is that they aren't in this state)
Posted by Miss Mom on 2007-11-20:
BOA is nothing but a big crook. I'm searching for another bank now. I understand the whole NSF deal and know that when I overdraw my account, I should be charged a fee. However, BOA likes to rob you blind with their so-called pending status on transactions. My husband and I share an account and he is currently stationed in Korea. Checking your account online gives you no real clue to what your balance really is. Say you have 35.00 in your account and you need to pay a 75.00 bill. You think okay, I will eat the NSF fee and go over to get this paid. WRONG! You bought a 10.00 lunch yesterday? Spent 5.00 at the corner store 2 days ago? They're gonna push those smaller transactions to the back, so they can hit you with 3 NSF fees instead of one. Then when you call them about it, they give you the song and dance about pending and how they pay the bigger transactions first to make sure your important bills are being paid. How the hell do they know whats more important?? It is truly beyond me that no one has filed suit against these people. I am searching for another good bank now. NSF fees are one thing, but highway robbery is another and these people are CROOKS!
Posted by spacepenguin on 2008-10-14:
I'm a web programmer and I work with credit card gateways regularly. Most gateways have a few options on how to capture funds. There is an "Authorize", where it simply asks the bank if you have the funds. The bank checks, and answers yes or no right then. The merchant then has up to 30 days to actually "capture" your funds. There is also an "Auth_Capture" function that immediately authorizes the funds, then the merchant captures the funds that night.

It's illegal in a lot of states to bill for a product before you ship it, but the majority of online merchants use auth_capture anyway. Some merchants authorize the funds (causing your bank to take the funds out of pending) and don't actually capture the funds for some time. Your bank has no way of knowing that the funds will actually be captured or not at the time of authorization. Different banks have different policies on how long to hold authorized funds before they remove them from the list. Bank of America is roughly 48 hours if I recall.
Posted by Greg78 on 2009-04-07:
BoA plays what I call the "Pending Game". They leave deposits and withdrawals in a pending status until it benefits them. They move items from pending to cleared and back again as they see fit! The tricky part is that the overall balance reflects deposits that are in a pending status. If the money is not there or is "pending", why does the balance tell you it is there? There are more details to these shady practices and BoA is not the only one doing this. The Government has yet to step up to the plate! Barney Frank and the Financial Services Committee have done nothing! Who will defend and represent the people? We'll have to do it ourselves. It's time to elect a congress independent of major party and corporation influence!
Posted by Horace Redhaus on 2009-07-28:
I balance my checkbook diligently but I have noticed the same thing. For DAYS my account according to the online banking site showed $85.60 when it was in fact less than half that by my register. I kind of tend to think they are in fact trying to trip you up by design. Even though it is unscrupulous they are still within the bounds of the law to do so, for now. You have to keep your own register updated and accurate. I've come to regard the online banking site as entirely useless. Banks exist to absorb wealth. They will do anything and everything within the bounds of the law to get your money. That's the #1 thing you have to keep in mind. They are useful to an extent but one keeps in mind they are the enemy.
Posted by Anonymous on 2009-07-28:
Horace, you point out EXACTLY the reason to keep a register. You have no way (otherwise) of knowing that a check may not have cleared yet, or that a merchant may not have submitted debits for clearing. If you didn't have a register to tell you better, you'd think you could spend that money. If people like the poster above you could grasp this concept, they wouldn't be making inane calls for a class action suit.
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Filing a fraud lawsuit - Need others
Posted by Vshah551122 on 05/20/2005
NJ, NEW JERSEY -- Background:
BOA is involved in charing unethical transaction fees to customers by strategically manipulating your debit card usage. Typically if money is unavailable in your account the debit card should decline. BOA actually lets the transaction go through and lets your account develop a negative balance and will treat it as an Over drawn account. They will charge upto $180 and continue charging without you realizing that you may have overdrawn your account. I have recently had the opportunity to speak with a previous BOA/Fleet Technology executive who recently left the company and he validated to me how the company strategically manipulates accounts and collect fees.

I am filing an official complaint against Bank of America are you interested in joining the complaint. I may even want to pursue a lawsuit down the road. BOA feers bad press and not only will they change their practices but will be a value add for other consumers who are getting ripped off. Don't get me wrong I am going after them not only for the fees paid but because I have spent hours and hours in frustration with their bank and someone needs to compensate me for my time. If you have the same compliant you can also be compensated. The lawsuit will not be that expensive and will be painless.

Please contact me at: vishal_98@yahoo.com

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Posted by Bank Employee on 2005-05-28:
The only person responsable for keeping track of your balance is you. If you were using your card to make purchases and you did not have funds in the account then you are commiting fraud! You were actually taking money that is not yours!!
Posted by dontgotoaaa on 2007-10-05:
Posted by Tonic17 on 2008-12-19:
I will have to agree with the poster. I've seen it to many times when BOA "rearranged" my transactions. With the hope of it going unnoticed. I pay what i need to. but when its an unjust action as to charge me and overdraft fee with there's more than enough to cover it, it gets a little frustration. If anyone that banks with BOA probly knows that im talking about. There deffenently sly. So my words are to be AWARE and keep on top of your account. cause i would not trust them at all.
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Deposit Holds - Inconsistent and Unfair
Posted by Moneytalks on 02/04/2009
PALO ALTO, CA -- I have had several problems with Bank of America policies since opening accounts here.
Yesterday I deposited two checks within 3 hours of each other,
one at a teller and the other at an ATM. The first cleared immediately, the 2nd is on hold for 5 days. They were both written from a local brokerage account. When I checked with customer service they told me that THIS IS THEIR POLICY.

Be Warned: If you are going to need the money, use a teller!
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Posted by tnchuck100 on 2009-02-04:
If you are going to need the money, use a different bank.
Posted by Anonymous on 2009-02-04:
Only...but BEST answer.
Posted by madconsumer on 2009-02-04:
if these are hand written checks, then yes there is a hold.
Posted by Anonymous on 2009-02-04:
LOL Chuck!

Out of curiosity Mad, what would make a hold on a hand written check longer than a check that is not hand written or one that is computer generated?
Posted by Anonymous on 2009-02-04:
Deposits in an ATM *always* have an extra day hold, if not more. The machines only get emptied once a day, and in remote locations less than that. This is pretty standard practice at all financial institutions, and will be spelled out in the FI's Funds Availability Policy. You get a copy (by law) when you open an account, and it must be posted in every branch.
Posted by nobofa on 2009-02-06:
If you need the money that bad, why not just cash the checks at the bank their written on??
Posted by hatecrooks on 2009-03-17:
Office of the Comptroller of
Customer Assistance Group
1301 McKinney St., Ste 3450
Houston, TX 77010
1-800-613-6743 or email: customer.assistance at occ.treas.gov
3245 Grand Boulevard, Ste 100
Kansas City, MO 64108
Fax #703-812-1020
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Making Home Affordable is a Scam!
Posted by Cebikin on 01/13/2010
I started my process in April 2009 and have been getting the same run around as everyone else. They recommended that I pay half my mortgage for 3 months as part of a 3 month trial period prior to beginning the Making Home Affordable process. After the 3 month trial period was completed in August, I received a very nice letter from the Sr VP of the Home Retention Division who seemed excited to assist me and recommended I call them right away to get started with the MHA! Yeah! It has been a nightmare ever since... I gave them my financial info over the phone, three months later I was told I was supposed to fax it and then later I was told to mail it. I have over 30 phone calls to date trying to get qualified. In December, I finally had an agent assigned who told me I needed to set up an escrow for taxes and insurance in order to proceed with the qualification process. On December 28th I was denied qualification due to an agent error who doubled up my mortgage and car loan payments which created an excessive monthly expense and thus disqualified me. They are now in process (supposedly) of re-reviewing my qualification after recognizing the error. Here's the kicker... Due to the erroneous disqualification they have done the following: a)sent me a letter demanding payment of my 3 month half mortgage balance due by January 27th or default; b)blocked my access to my mortgage information on-line with a notification that I am delinquent on my December and January mortgage payments and will go into default if not paid by February 11; c) calling me daily via automated voice response saying I am delinquent and need to remit payment immediately; and d) best of all, they have erroneously doubled my escrow amount on my next mortgage payments. Bottom line, instead of assisting me with a reduced mortgage payment they have made matters worse by increasing my payment with an erroneous escrow. All they care about is BAC profits - I got nothing and now they're going to hold my money all year for escrow and make 20%+ interest on some other poor soul. I GOT DUPED!!!

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Posted by goduke on 2010-01-13:
You might want to give them a chance to correct the error.
Posted by Fufu487 on 2010-01-13:
they may, MAY, correct the faults of their errors. Alot of banks do once it's obvious they made the error, and you had no part in the error being made.
Posted by ron65ron on 2010-12-01:
Let me tell you that the same thing has happened to me! They DO NOT CARE. Money is money to them and the accounting practices they use are boarder line illegal. Yes they accepted TARP money and are supposed to help people, but THEY DO NOT. They had my financial info all mixed up as well and did nothing to correct it. Bottom line, if your able, get out of Bank of America, they are the worst bank in the country.
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Impossible To Report Fraud To B Of A
Posted by Wetbaloney on 11/06/2007
CHARLOTTE, NORTH CAROLINA -- This afternoon I was trying to buy something on PayPal and I was served up with a page requesting me to update my credit card information or add a new card. Without going into the details of that, suffice it to say that I had reasonable cause to believe that this was a phishing ploy to get my credit card information and that I fell for the ploy.

Realizing this almost immediately I attempted to report the incident to Bank of America, the issuer of the credit card whose information I had entered on the bogus web page.

My exasperating experience with Bank of America went as follows:

1) I telephoned the customer service number on the back of my card and was answered by a voice messaging system which gave no menu choices for reporting fraud or for speaking to a real human being. After listing to all sorts of information about my account which I was not interested in, hearing about B of A's commitment to excellent customer service, and entering my card number and various other personal information several times I was finally connected with a customer service representative. She then asked me my name (didn't I just give them my account number?) and then I was disconnected. She did not call back.

2) I called back and went through the same rigamarole again, but this time I did not get disconnect and was able to explain the (fairly complex) details of the situation I wanted to report. This CSR then told me I would have to speak with someone from their "fraud department". She gave me the direct number to that (or she said) department and transferred the call to them.

3) After waiting on hold for several minutes I was provided with yet another voice messaging system which gave me all sorts of choices about reporting billing disputes. After entering my credit card number and other information the messaging system informed me that I was in the queue to speak to a representative. After waiting on hold for a while I got another message saying that the system was unable to help me at that time and to hang up and call back.

4) I hung up and called back. Again I went through the same waiting, menus, and entering numbers. Finally a person got on the line. I again went through my lengthy explanation of the situation only to be told that I had to speak to someone at the "fraud department". I told him that I was told by the previous person I spoke with that this WAS the number to the fraud department. He said it was not and transferred me over there.

5) After waiting on hold for some time I was given what appeared to be the same messaging/menu system as when I had first called customer service, and when someone finally answered (after going through the same motions I had gone through in the first place), the person I spoke with again told me I would have to speak with someone at the "fraud department".

At this point I had already spent one hour and 15 minutes attempting to report a serious security issue to Bank of America without any success. In disgust I just directed the person I was speaking with to cancel my account immediately.

Coincidentally, I had also given information on another credit card with that suspicious website before I realized that there was something to be suspicious about. That card was issued by National City Bank. When I called them I was able to speak to a customer service representative within about one minute of their voice messaging system answering my call.

The CSR with NCB took my information and initiated appropriate action promptly. The whole process with NCB took less than 5 minutes.
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Posted by GothicSmurf on 2007-11-06:
Call your branch directly and or go in to your branch and speak with a person there to verify that the information was recieved.
Posted by Anonymous on 2007-11-06:
Thanks for the information and I agree, that is a ridiculous amount of time to spend on hold and being transferred around and around to no avail. You should go into the main branch and speak to someone in person about your experience and hopefully some changes will be made.
I am curious to know, what caused you to be suspicious in the first place that it was a phishing attempt?
Posted by wetbaloney on 2007-11-06:
well now I have a complaint about THIS website. I got an email that said "Click the link below to view your post and read the new consumer response(s):" I clicked the link and then scrolled down to where it said: "Read user comments (2) ". And then all I got was this form to input a comment. The 2 user comments are nowhere to be found. If I click on that link again I just get sent right back here. Whoever designed this website must have an IQ that is less than his shoe size.
Posted by bigboxworker on 2007-11-06:
You should also contact paypal, as they should be taking actions to prevent fraudsters from creating phishing sites posing to be a legitimate payapl site
Posted by Anonymous on 2007-11-07:
Step away from the computer.

Make sure that anytime you speak to any bank or credit card company by telephone that the conversation is followed up by something in writing, no matter how trivial the reason for the call may be, summerizing what was said and what was promised, when the call was made and who you spoke to. Make sure to reference any case file number associated with your claim. They should be able to provide you the address to send it to, or there may be something on their web site or in the paperwork you received when you open the account.
Posted by Anonymous on 2007-11-07:
If you want to complain about Bank of America, send a written letter via certified return receipt to: Office of the Comptroller of the Currency, Consumer Affairs Department, 1301 McKinney Street, Suite 3450, Houston, Texas, 77010-9050, Tel: 800-613-6743. Also, send a written complaint to your State Attorney Generals Office, Attn: Consumer Affairs.
Good luck.
Posted by Magic Christian on 2009-12-18:
First, NEVER enter your account number on the phone: the rep will ALWAYS have you repeat it again, anyway! I have never been able to fathom why they bother to ask, unless they're simply trying to distract you from noting just how long they kept you waiting....

Next, if you find yourself pushing menu choices over and over, replace the call: this time, do NOT use your keypad! They will assume you have a rotary dial, and - voila! - a REAL PERSON! (My elderly brother taught me this many years ago. Even now, most systems have to allow for rotary phones....)

Do not trust Bank of America to ever do what they say. Not only are their reps unspeakably rude, but they will tell you just about anything to get you off their queue. Great operation - for teaching consumers what NOT to hope for in customer service!
Posted by ithinkikan on 2010-02-27:
I was trying to report a phishing email I received and it is impossible - like they do not want to know. Very strange. This lack of cooperation and communication has to effect their business and cause people to close their accounts ...
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Holds Checks when they feel like it....charges too many fees
Posted by Ckennedy124 on 01/21/2006
COLUMBIA, MISSOURI -- My husband and I have been BoA customers for 10 years now. My husband had worked the same TV job for 10 years as well and gets direct deposit of over $900 every two weeks. The bank in my area knows us and calls us by first name when we come in and we never had a problem until the last couple years. I agree with other people here that BoA waits until items come through on your account before depositing money. We use online bill pay and set up our bills to go out on the date my husband's direct deposit comes in. They sometimes let the bills go through first and THEN credit the direct deposit. When the direct deposit comes in it shows up in the pending but is available to us that morning at around 3AM. At around 5PM that same day, the pending part shows the bills are paid AFTER the deposit is there but, amazingly, not when posted. How can this be when they had my husband’s money at 3AM and did not send bills until 5PM that day?? Then they charge $19-$34 for overdraft on EACH payment!!

I also agree with the poster who talked about his stop payment not working with his landlord after 6 months. I had paid insurance agent money for a home and auto policy and then found he was a fraud. I called the bank that day to put a stop payment on the check and was charged the $28 fee. BoA let the check go through anyway and I had to spend two days getting my money back. All because this guy went online, pretending to be us, to open a home and auto policy. He then used our check to do an online transaction and the bank said that was a different story than a check. I ended up having the fraud department reverse the charges and I got my $28 stop payment fee back AND my money!!! Keep bugging this bank and talk to people higher and higher up until it's fixed. Don't bother talking to a LOCAL branch manager because they care less.

My "last straw" was on Jan 17th 2006. In Dec I got a check from my mother (hand written) for $100 on Christmas. She lives out of town and DOES NOT use BoA. I deposited this money by way of ATM. The money went through and was available that same day. We had only $5 in our account at the time. This is important as you will see later. Mind you, we have been customers for 10 years now.

On Jan 17th 2006, I got a check from my college, DeVry, for a little over $800. It was from excess financial aid and I get these a few times a year. BoA local should know this by now. I set up for some bills to go out the next day (online), thinking the money would be there on the day I put the money in the bank. I then went to the ATM to deposit the check but found I had forgotten a pen to sign the bank of the check. I then parked and walked into the bank with my 12 year old. A couple main bank people there said "Hi, Christina, we haven’t seen you in a while!" I said I was busy with school and such and went up to the counter to deposit the signed check. The teller knew me and never asked for ID. I stated that I wanted to deposit the check in my checking account. She then said she could not deposit the money. I asked why not? She stated that it was an out of state check and I only had $30 in my account to cover it. She also said that it looks like you NEVER have deposited this much money in your account before. I was VERY ticked and said "EXCUSE ME? My husband gets over $900 every two weeks for the last 10 years into this account! How do you think we pay for everything!!! I also just deposited $100 with a PERSONAL check and only had $5 in my account. You let that go through!!" She said she was sorry and had been looking at the wrong screen. She then said I would have to talk to the branch manager, Jennifer, to get this taken care of.

Jennifer came over, made a face at me.....HELD THE CHECK TO THE LIGHT like it was a bad check!!! and asked me if I get these checks often. I told her that I get refund checks every once in a while and they can even look on the account and see. She then said she would deposit the money but I can't have access to it until Jan 25th AND even then, I can only have $774.31 of it. I said "WHAT!!! You've NEVER does this to me before! What happens to the other $100 of the $874.31???? She said she would release that later but gave no date. I told her that I better have ALL the money there or we go to small claims court and let a judge decide. She said, "Look I will call your school's bank on the 20th and if the fund look like they will clear; I will release the money to you....all of it." I said OK.

I then went home to complain about my treatment to the main branch and those people said there was nothing they could do and that it was THIS manager’s discretion to place a hold on the account and NOT theirs. They refused to help.

I then called my school on the 20th to see if cleared their end and told them what this woman is doing with their money. My school looked at THEIR bank's website and saw that BoA HAD received the money and it had cleared their end. They were so upset with my bank that they called my bank of three way. My bank told my school official that they had found that the money was set to clear but she was not releasing the money until the 25th. My school official then said, " Let me get this straight...You're saying it's your discretion to take the hold off for this woman? And, even though OUR bank's website shows you have our money, you will not release the hold??" My bank said yes. My bank then said they would be nice and maybe release the money on the 23rd instead. My school official then said to my bank that they would call back on Monday to make sure it was done. When my school official and I got off the phone with my bank; the official said this was ridiculous and that I should change banks. I then reminded my official that the bank manager that she just talked to had promised to release the funds on the 20th if the check had cleared. This official said she would NEVER bank there after what she just heard. I told her we were opening up another account at another bank and as soon as my husbands direct deposit starts going to the new bank; we are closing this one.

The story is not over. I see on my account that the money has posted but I have no access to it as of the 21st. I also saw, online, that all the bills I paid with their online bill pay went through (5 of them) and I had 5, $34 charges on my account and one bounced check. I then called the bank to complain again and only got two of the $34 charges reversed! My account shows I have about $775 in there but my available balance is a negative $20.54!!!!!!

If the check is not available to me by the 24th I am taking this to court. I also told the main bank that I would be closing my account soon for these actions. They shot me an email asking how they could keep us as customers and that we have been such good customers with them for a long time BLAH BLAH BLAH. I shot them an email back and said, “You can start by releasing my funds to me that have cleared my school’s bank ALREADY!!! I have yet to hear back from them.

This "bank" can kiss my butt and I am going to bank with USAA who has NO fees at all...even free checks for life and ATM use at other, NON USAA ATMS. I will earn interest on my checking account and have a MasterCard Check card that will earn cash back on my purchases. I get MANY more GREAT offers with USAA checking and already have them for my auto and home. I should have gone with USAA before! Watch out with BoA!!! They are horrible people!
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Posted by crewboy on 2006-01-21:
I have a suggestion for you. I too have gotten sick and tired of the ludicrous policies and fees being set by these banks. It seems that the big banks are buying up the smaller ones and getting larger and larger every year, and with this comes higher fees and insane policies.

My suggestion to you it two words--credit union. I finally had enough of my bank changing it's name every year and raising the fees with each name change so I closed my accounts and went to a local credit union. I'm sure there is one in your area that you will be eligible to join.
Posted by ckennedy124 on 2006-01-28:
Just an update. The BoA gave released the hold on my check, charged me $138 in fees, and now has my bank account all messed up. They are a dollar off from what my figures are on Microsoft Money. I downloaded everything they have into Microsoft Money for years and it's never been wrong. My balance, AFTER downloading and checking against BoA account 50+ times, if a dollar off. I think these freaks are trying to get me to overdraft and take fees, thinking I am too stupid to catch the error, just because they know I am trying to close my account with them. I opened a better checking, savings, and money market account with a bank that also holds my insurance. BoA told me they saw that I sent money with my Check Card to this new bank and asked if I was leaving them. I said "darn right I am!". Now, this $1.00 error is there and I am glad I caught it or I would have gone overdraft again for their mistakes!. I took the $1.00 out of Microsoft Money so I do not go over and can't wait to close the account as soon as our direct deposit is moved to the new bank. What nice people BoA are....NOT!!!!
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Predatory Over Draft Fees
Posted by John1026 on 06/19/2008
MIAMI, FLORIDA -- Hi I had been with Bank of America for 11 yrs. I got my parents to open a personal and commercial account with them.

Our whole family was on Bank of America.

Recently, I ran into trouble by over drafting my account on 3 items. It was my responsibility to pay for my mistakes so that's what I did.

Until pay day, my account remained close to $0. Usually floating around $20. My mistakes started when I assumed that the online banking system showed all transactions immediately.

I checked my bank account everyday watching for any item to come in so I can borrow the money and deposit it before the end of the day.

I started noticing a trend where if I bought 3 $1 items in the morning and made a $200 purchase at 11:00 pm they will rearrange the items so that I overdraft for each little item.

I called customer service and they told me that they were doing us a favor by doing this because they survived their customers and the majority wanted the larger amount to come out first. The good thing is that will also put the deposits first.

Once again, I was like alright well, what can you do. So I paid it again.

After paying my bills and the overdrafts my bank account again floated around $20. So I stopped using my card.

The Wednesday before payday, I made a check to my doctor that was post dated for Friday. One of my doctor's staff didn't notice and deposited it on Thursday. All the while I'm keeping a check on my bank account online.

At 2:00 am on Friday morning, I checked my account and was happy to find that my account made it to payday without over drafting. Come morning (5 hours later), my account said I had over drafted on Thursday for 2 items, (1) The check and (2) a $3 purchase.

I was livid so I called customer service and the lady went into a script on how their system works. After asking her how it was possible that the bank can say they paid the check on Thursday but not report it on Thursday. She continued into the script and said that their online banking system isn't always immediate (contrary to what their commercials advertise).

I went to a branch and spoke to an official. He said that his hands are tied and tried to get me a refund. But, to no surprise, it was denied because (get this) I had too many previous overdrafts already!!!

I closed my account. Now they are billing for $9.95 that they paid after the account was closed.

My only advice is to not bank with them unless you have excellent credit and a lot of money. Otherwise they don't care about you.

They will step on you, take your money, and then with a straight face say that since you've already given us all your money, we can't give you any back. But, if you haven't paid us any, you can have it back. Sounds logical huh?

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Posted by BobJohn on 2008-06-19:
You should not write checks for money not in your account. Post dating a check means nothing, the bank accepts it when it comes in. The overdraft fees are serious money so you have to be very careful not to go negative. You can change banks but you've really got to change your habits and watch you check register and AVAILABLE balance closely. A helpful hint might be to pay cash instead of using a debit card for small transactions, then if you do go negative you won't have a bunch of small charges.
Posted by Anonymous on 2008-06-19:
"I checked my bank account everyday watching for any item to come in so I can borrow the money and deposit it before the end of the day."

If you can see it, you're already overdrawn. Do yourself a favor and cut up the debit card. If you use cash only, you'll find you have all those overdraft fees back in your pocket available to spend.
Posted by Anonymous on 2008-06-19:
Post-dating is little more than check kiting. Always write the correct date on a check. If you wanted the doctor to hold the check, you should attach a note to the check and put both in an envelope marked 'hold'. Clear it with the office manager. No business is obligated to hold a check or honor a post-dated check. The days of interest-free, short term loans via one's checking account are over.
Posted by Anonymous on 2008-06-19:
Keep track of ALL transactions in a check register- checks/debit card transactions/ATM withdrawls and balance your checkbook every day. This is how you know exactly how much money you have in your account. Online banking is a convenience to have, but it is not guaranteed to be 100% accurate at all times. As BobJohn said, you can change banks, but you also need to change your habits, or this will just happen again.
Posted by madconsumer on 2008-06-19:
without even finishing this, i stopped when the poster said,
" checked my bank account everyday watching for any item to come in so I can borrow the money and deposit it before the end of the day."

here is a radical idea, make the deposit first. then go spend the money that is available. days of floating checks is over.
Posted by Anonymous on 2008-06-19:
"I was livid so I called customer service and the lady went into a script on how their system works."

Hope you listened. Your post indicates that you don't know how to manage a checking account.
Posted by CrazyRedHead on 2008-06-20:
Never rely solely on the online system or the telephone system. You should keep an accurate check register. You don't seem to know how to manage a checking account properly. I have been with BOA for close to 20 years and I don't have a lot of money, and I haven't had an overdraft or any problems in the last 10 years. I keep a checking register and keep, at most, 10 dollars in the account and I only get paid once a month. I should keep more but when you don't have more it is kinda hard.

Stop post dating checks, they will only get you into trouble, and quit floating checks. When you deposit wait until the funds are available, even if you have to call the back to verify, and make sure you get a name.
Posted by speedy relief on 2008-06-21:
I agree with you . BOa is a preditor in no uncertain terms. They hit me for the tune of 300.00 in overdrafts, due to Their practice of paying in decending order. I made purchases over the weekend with my debit card (using my PIN) cuz they tell me they take the $ out immediatly (or so they say) I made a cash deposit before 5pm to cover another purchase to be made on the following day, and they paid that purchase first, and let everything alse (all my debits) kick out as over drafts.
Posted by Anonymous on 2008-06-30:
Post-dating checks does not work anymore. These rules have been in place for awhile. You give someone a check, they can deposit it immediately and the funds can be taken from your account immediately.
It's time that you learn how to budget your money.
Posted by Ponie on 2008-06-30:
'...(contrary to what their commercials advertise).' I've seen a lot of BOA ads, both print and TV, and in none of them do they infer if you don't have money left in your account they'll gladly float a loan at no charge to you. I don't think you should have a bank account. Looking at your history, that may become true. Banks are not too happy to sign up new customers who have had a problem balancing their checking accounts in the past.

speedy relief, you also need Basic Finance 101. I'd have a heart attack if I had to pay $300 in overdraft fees due to my inability to add and subtract.
Posted by speedy relief on 2008-07-01:
such sarcasm in the previous posts. maybe these people work for the bank
Posted by Ponie on 2008-07-01:
speedy, no we don't work for the bank. We just use common sense. I have never in my entire life had an overdraft fee. I suppose that could be because I don't try to spend what I don't have.
Posted by PolishGirl on 2008-07-07:
First of all, never post date a check, it never works. Second of all keep more money in your account. Third, keep a check register. Forth, never never never spend money on something if you don't have it, that way you do not overdraw the account.
Posted by Anonymous on 2008-08-07:
You are right about Bank of America. I only use them because they have a lot of ATM machines. But once I catch up I will transfer my business elsewhere. They are crooks and they move things around to create multiple overdrafts. They just stole $175.00 dollars from me. What would have been an about a 12 dollar over draft turned into 175 dollars in a few minutes. They apparently tell each customer the same reason.

Now why would anyone prefer the bank to pay a higher draft but instead pay multiple overdraft fees that exceed the one highest charge. They manipulated my account to steal money. I will make sure they get as much negative publicity about this as possible. They deserve just what they get. I may even picket a branch in the near future.
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Unfair Business Practices
Posted by JAFEICA on 11/19/2007
PORTSMOUTH, VIRGINIA -- BTW my "name" Jafeica stands for Just Another F#$^*^g Expense I Can't Afford

I have read many of the reviews on this site and I can relate to about 90% of them. The fee's that they charge, the interest rates that they charge, the overdraft protection that disappears when it's needed, the astronomical interest rates they charge (even when it's their fault) and the lack of compassion by their so called "customer service" reps.

First when my husband and I opened our account, we made sure that we added overdraft protection to our account, we also opened a savings account that would take a direct deposit from our checking account, we also got an introductory offer of 0% interest for 9 months and it would then increase to 17.9.

BofA constantly moves you bank card purchases so that it will eventually result in a calculation error on the consumers part, which allows these crooks to debit your account for unfair $35 fees. Here is an example. After noticing for years that our rent check takes 2-3 business days to process one month our account was running low, I knew that my direct deposit would hit our bank by midnight on Wednesday, so at 2pm on Wednesday I took our rent check over to our rental office. Relieved that I had just saved us $100 for paying our rent late. Well Thursday morning at 6am I reviewed our account to determine what bills we were going to be able to pay out of this weeks pay only to find out that our rent check was PROCESSED and following our rent were all the (10) bank card transactions that we had made OVER THE WEEKEND that had been showing as pending. Not only did I not have a positive balance but they had charged me $350 in insufficient balance fees. Which darn near ate my paycheck.

When I took the copy of the online banking statement into the branch office I was told that "because their customers wanted the banking hours changed" the cut off time was in fact 5pm and not the standard 2pm, when I showed him my check book showing the previous months not clearing for 2-3 days they told me that it was not their problem that I didn't have sufficient funds to cover that transaction, when I questioned why the pending transactions took so long to process, they told me "that happens sometimes".

My husband and I not only live pay check to pay check but we pay our bills on a weekly basis and not monthly. When a bill comes in, we set it up for payment for within a week or two depending on when it is best financially for us to pay, meaning our bills are never late. Well when we received our BofA into offer 0% c.c. we transfered our dell account to it because it had a higher interest rate. Well not being used to getting a BofA bill we over looked not getting one for a couple of months when I realized it I went to the bank and found out our bill was being sent to St Cloud, FL, now neither my husband nor I have ever been to FL not to mention ever lived there.

So I had the rep send all the previous statements to me so that I could review them, once I received them (in less than a week) I was relieved to see that no transactions had been made. With our c.c. account now currant, we moved on, and a couple of months later I get a call from them that my account was past due, I asked again what address they were sending our bill to, and you guessed it, it was going to the same address in FL. I asked how that was possible when just a couple of months before they had sent the bulk statements to our address, they had no answer for it. Well they revoked my 0% interest and hit me with late fees and now over the limit fees because the messed up. I know have the account set up on my Outlook to remind me to hand deliver the payment at my local branch, to avoid any other "mishaps", and guess what, I still don't get my statements, but I can review it on line so I know nothing is getting charged by an individual (only from the original crooks themselves). Oh and that overdraft protection we signed up for, THREE times still is not on any of our accounts.

OHHHH and here is one for the record books. I have an automatic withdrawal from checking every Thursday being deposited in my savings account, and if the funds aren't available they charge me a $35 fee....Also the keep the change thing...same thing, if you don't have the $0.56 in your checking account to cover the transaction, there's a $35 fee.....I don't know how they get away with this, but I can tell you one thing, they took their last $35 fee from me. I just wish that someone could do something about this bank.

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Posted by msnanny on 2007-11-19:
Ugh, where do I even begin. A) It doesn't matter how long it "used" to take to process your rent check. The fact is that you wrote a check without having sufficient funds to cover it (illegal by the way)

B)It doesn't matter that you did not receive a "courtesy" bill in the mail. It's your responsibility to know when the payment is due and you failed to pay it on time.

C) Bills can not be paid "depending on when it is best financially for us to pay". They must be paid on time.

D) If you do not have sufficient funds in your account to cover an automatic withdrawl you will be charged an overdraft fee.

E) And finally, GOOD LUCK finding another bank that will not do the very same thing.

Jeeze, I feel like I've just tried to explain econmics to a 2nd grader.
Posted by Suusan B. on 2007-11-19:
"I don't know how they get away with this".

I do - - read your account holder agreement wherein you will find all the answers.

Many of us live paycheck to paycheck, but you are knowingly overdrafting your account which is illegal. And BofA is no different than any other bank with regards to overdraft fees. They apply debits before credits and in the order of highest to lowest in order to maximize the fees they can charge from customers who do not keep a check register and authorize more debits than they have money available.

Finally, credit card statements are mailed as a courtesy and it is the consumer's responsibility to know what they owe and when their payments are due. The fact that "a couple of months" went by without your making a payment tells me you are not on top of your finances.
Posted by Suusan B. on 2007-11-19:
Oh - - and you stated you "signed up for overdraft protection". This is not something you sign up for - - it is something you apply for as it is a line of credit for which you must qualify.
Posted by jktshff1 on 2007-11-19:
I, I just can't go there! Don't know where to start!
Posted by ejack053824 on 2007-11-19:
I know where to go with this..........BRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRTTT!
Posted by Anonymous on 2007-11-19:
I have to do this, sorry... BRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRTTTT! Ahhhhhh....
Posted by ejack053824 on 2007-11-19:
LOL Lid!
Posted by jktshff1 on 2007-11-19:
ejack & lid...thanks for thaking the words out of my m.....oops a...!!lol
Posted by ejack053824 on 2007-11-19:
jkts..you shyt yourself my friend? LOL!
Posted by Anonymous on 2007-11-19:
jkt, did you make it to the bathroom?

What's up Ejack!!!!
Posted by jktshff1 on 2007-11-19:
i'm cool no problems
Posted by anthem on 2007-11-20:
Your not the only one hit up with there fees i just got hit with 455.00 in fees on two accounts.. then i find out when you have overdraft protection linked to your savings means nothing because i deposited cash into it thinking i was safe and then they tell me it takes two days to post to your account.... come on give me a break..someone needs to do a class action suit against them for unfair practices.. they have a hidden agenda
Posted by anthem on 2007-11-20:
Trust Me BOA will be busted for there unfair business practices they pry on the less fortunate.. i am currentlyl working to get it done.. Its not about writing a check when you don't have the money or using your debit card when you don't have the money.. I know for a fact by a friend that worked in management for Boa about there business practice... that are not ethical. trust me this issue will be in the major news soon guaranteed!!!

Posted by CrazyRedHead on 2007-11-20:
I agree with msnannay and Suusan B.. I also bank with BOA. I have been with them for almost 20 years with no problem. Currently I have the 'Keep the Change', where they transfer the remaining changed from any debit or check transaction to my savings, and when there isn't enough in my checking account they will cancel the transfer and not charge me anything.

They also canceled a overdraft fee since I caught it pending and transferred my own money from my savings account to my checking. I also live paycheck to paycheck and have no troubles with them, but then I don't write checks for what I don't have at that moment.

Read the booklet that they gave you when you opened up the account, that will go over any fees or charges that you incur. At least with me, they haven't been sneaky, they have actually came through for me and even gave me a $20.00 credit before.
Posted by jim5pisces on 2007-12-12:
anthem..I agree class action suit!! Obviously the taxes we pay for government oversite is not doing their job regulating banks! This is clearly not proper banking practices and they should be fined several million dollars and the money they stole from us needs to be returned with interest as my complaint took 6 months on this recent theft and over 4 years now I have been waiting for the B of A to replace my $600 when the hackers robbed me 6 times in a row...theypromised! When I discovered my entire social security funds were gone I went immediately to B of A and ssked them what happened and they were dumbfounded and surprised and told me they did not know how to stop these hackers! I demanded my social security money right then and there and finally got all of it redeposited into my account with this exception that they said they would withhold $100 of it and redeposit this into my account when their investigation was completed! Well...it has been over 4 years now so have they completed their investigation yet? I have called and called and been back to the bank numerous times, emailed them and still they have not put back my money? I only exist on $1100 each month, not enough to live on, and to have my meager income completely stripped from me for 6 times and 6 months in a row showedB of A had no protection and was not safegarding my money and that is what banks are supposed to do so a class action suit by this worthless government agency that is supposed to be monitoring bank practices is so far overdue! I cannot believe my eyes at how many folks have been ripped off by these CROOKS!!! J.C.H.
Posted by soothsayer on 2007-12-19:
Bank Americ lost a Billion dollar class action suit years ago for posting highest checks first to maxamize the amount of overdraft charges. They don't care they made a hundred times that in bogus fee's.
Screw BOA they aren't even an AMERICAN owned Company, WAMU isn't any better,(they just screwed me with 2 overdraft fee's when their should have only been one because they posted the higher amount first even though they were Paypal transfers and the smaller amount was done 2 days gefore the larger amount and it would not have overdrafted the account. google search Bank of America Sucks, or WAMU Sucks you;ll be AMAZED. Also BOA owns VISA, so every time you use your visa card they get 3% from the merchant.

So here is my suggestion, SCREW BOA - Switch to Master Card, close your BOA account and open one at a CREDIT UNION, because all the Banks are screwwing everyone on Charges. If you must have a Bank Account - DON"T PAY YOUR BILLS from it. YOU can buy 32 money orders for the cost of 1 overdraft charge. Deposit your checks then withdraw cash, (just leave the min amount in the bank) why let them use your money for free and then have them charge you hundreds of dollars in Bank fee's for overdrafts. Buy M.O.'s and pay your bills that way. Don't use ATM's, again they are using your money and then charge you fee's when you want it. If everyone started taking all of their money in cash (they won't give you more cash than is in your account) They would loose Billions. Maybe they would get the message. We are mad as hell and we aren't gonna take it anymore.
Posted by slovakgirl on 2008-03-11:
This comment is in regards to the complaint about Bank of America. I had a credit card with them. I never in my entire life experienced such aggravation with a credit card. Terrible customer service, deceptive practices, some of the reps actually lied to me on several occasions and then accused ME of being deceptive. I reported them to several consumer reporting agencies. Bank of America actually responded positively to me after receiving a complaint from the BBB. Do this-complain, complain, and complain some more. We can't allow them to get away with this; it's illegal. We have rights as consumers and they have obligations as a financial institution to abide by certain business ethics, if they don't, they should be held responsible !! A Class Action Lawsuit should be formed against them to put them out of business!! Recently,
I observed on my local news, people protesting CountryWide; guess who just bought CountryWide? Bank of America. I settled with them and they are still giving me problems. Good Luck.
Posted by Ty0111 on 2008-04-04:
I use to work for Bank of America and that is the reason that I have an account still. It is troublesome to get the direct deposit switched over to my other bank but I am definately going to do it soon.

Their pending transactions just changed within the month and they charge for anything that could potentially overdraw your account. Because the transaction is pending then it falls off of your account after a few days and then post at a later time.

I was charged a $35 fee for potentially overdrawing my account eventhough at the end of the day my account did not fall below $100. Then they could not even tell me which transaction would have potentially overdrawn my account. When I got the paper in the mail that tells which transaction caused the fee, it was completely different from the transaction that the customer service rep told me. They gave me my money back for the transaction but this is not the point.

This new system is very dishonest and it is hurful to the everyday working class person who puts money into their accounts for convience. I have another account with a credit union and I love it. I get a 3.44% apr on my CD whereas at B of A I only would have received somewhere around 1%. The savings accounts offer higher apr's and if you ever need a loan then the rate of the loan is usually lower as well. The only problem is that you have to avoid the fee's of using a B of A atm.

If anyone knows of a way to lodge a formal complaint then I really want to know because they should not be able to get away with this. I am also thinking about posting a video on youtube about this practice warning anyone who banks there.
Posted by Not for the narrow minded on 2008-04-19:
You know, it sure seems funny that THEY DID THE SAME THING TO ME. We are VICTIMS of Unfair Business Practices. I DON'T KNOW ANYONE WHO ACTUALLY USES A CHECKBOOK REGISTER ANYMORE. I rely on my online banking information which seems to change regularly to the banks benefit. I wrote a check that they sent back for insufficient funds. So I proceeded to use my debit card for something else, I mean it's my money right? They returned the check and charged me $35. So I spent what was left in my account. WELL then after I spent MY MONEY that was in my account, on Monday night the check appears again AS A CLEARED ITEM even thought I never had enough to cover it. Did it show as pending over the weekend? Of course not!!! NOT only did I have to pay another $35 for that check, BUT THEY PAID IT FIRST before my debit card transactions. Now I owe them for 8 overdrafts. Hmm, do you think they paid that check as a courtesy to me? That is not a courtesy, that is larceny. Why wouldn't you have paid it the first time it came in? If I write a check that gets returned and I never have enough to cover it am I supposed to let my money sit in the account forever? They should never have let that check clear on insufficient funds. I'll bet they wouldn't have if I didn't have 8 opportunities for them to score on.
Posted by Not for the narrow minded on 2008-04-19:
REMEMBER--Bank Courtesy = Larceny
Posted by joekerrg on 2008-05-13:
B of America is as big a Gangster as the Bells/ATT/Cingular, only worse. They have DIRECT access to your money, etc. and they KNOW how to use that advantage. Our government is too fixated on eradicating the middle class to actually step in and help throttle it's biggest supporters (Crooked Corporations and other entities thriving on usurious practices which hurt Americans).

Bank of America SUCKS, and more than most. I have banked with them, in the past, and thought I was free. I moved across the country, and opened an account with another bank, which...you guessed it...three sales later, wound up Bank of America. YEEEESH! I would RATHER deal with a WAMU than keep bolstering the profits for BofAmerica. Even my doggone MORTGAGE is in the hands of these crooks. I am working on an escape. It's a shame they are as deadly to the American people as ANY foreigner, and 100 times as insidious, and yet, very little can be done to rock them off the mountaintop.
Posted by Taistix on 2008-07-09:
i filed a complaint with the feds about what they did to me this week. i deposited a u.s. treasury check after cashing it on july 3rd...it was suppose to be posted officially on the the 7th monday but my atm reciepts reflected the deposit i had made on the 3rd in other words they don't have to hold u.s. treasury checks to they "clear" so they made that money available to me and i was also allowed to make checkcard purchases over the week-end as well as make cash withdrawels which usually AREN"T allowed if the money is not there. They posted half a dozen 35 dollar charges for transactions i made on the 8th when the money was already there or supposed to be. I won't be able to pay my rent this month and it's causing me considerable frustration as well as having to need to find a new bank that doesn't use tactics to get anything they think they possibly can from people regardless of the morality since it's just a technicality that they're wrong about anyhow. Hey get this b of a check posted the 7th, you don't have to hold u.s. treasury checks to CLEAR and the overdraft charges on the 8th??? good luck friends out there.
Posted by fhvmad on 2009-05-13:
I do not think that some of the people with negative comments understand how boa has changed thier notifying customers so they can collect nsf charges. I had called before about them rearranging transactions that were pending after posting them so that you have multiple nsf charges. They informed me that when they post transactions that are pending they take the largest transaction and post that first regardless of what day that transaction comes in. That causes a customer to bounce all the smaller transactions including fees they charge like a dollar for using other banks atms. Well they either changed that policy again or they are lying to people to collect multiple fees. I made sure after being told this to be aware of them posting the larger fees but to my surprise I checked my account and since it wasnt to their benefit they didnt do it that way ONLY if it would cause the customer to overdraft for smaller transactions. This way they can collect multiple nsf fees for smaller transactions instead of one fee for a larger transaction coming in at a later time. This is intention not exact banking procedures. If it wasnt they would on the day they post all the pending transactions take out the larger first but instead they are only doing that if it causes multiple nsf charges otherwise the larger transactions are posted NOT first on the same day. This is just the beginning. There are other things they are doing so that they can collect more nsf fees. My point is that they are lying to customers . If they were not then how come on accounts they are only posting larger transactions when is causes multiple transactions to bounce so they can collect nsf fees. Its simple , they are ripping people off. There needs to be a suit against bank of america because this in reality is not SET banking procedures they are using its HOW much money can they make off of you. I worked for a company that sells a product to the military. There was another company who sold a simular product. We had a set price list. They didnt and would basically try to get as much money as they could from a customer. Needless to say the military retail office that handles that banned them from working for aafees saying that was basically ripping people off. What bank of america is doing is the SAME thing. They are lying to people about their policy, they are intentionally posting larger transaction ONLY if it causes a bunch of smaller ones to accumulate nsf fees otherwise the larger ones DO NOT post first. This is clearly ripping people off and needless to say I am closing my account with them on Friday. One because the bank lied about it and two because I dont want to give a shark (BOA) our hard earned money. The military has taken steps to stop loan companies from ripping military members off by charging loan shark interest rates. I hope they do the same with banks that are doing unfair practices as well like boa. Wake up people! The economy is bad , the banks are getting bail outs even though they are making profits from these fees. I personally have decided to put the paycheck on a prepaid visa. My neighbor did this and its working out great.
Posted by Anonymous on 2009-05-13:
Soothsayer, you are wrong. They were fined (and it wasn't a billion dollars) because they failed to disclose properly the way they processed. There was nothing illegal about it (still isn't), but they didn't give some customers adequate notice.
Posted by geronimo on 2009-09-24:
Amen to that, you know last year I paid over 3000 dollars in these fees. I still have a negative balance and they are still charging me fees. It is really stupid that we keep paying these people ANYTHING. In the name of self-preservation I have now stopped making all payments and encourage others to do the same. Hit 'em where it hurts the most!!
Posted by geronimo on 2009-11-19:
Drop these people, DO Not Pay them ANYTHING! Let's see if ol Uncle Sam can carry their dead asses when we all STOP giving these a*****es our crumbs and wampum. Let them go down in flames, they should have to PAY the customer back!!

Same goes for the rest of them, screw 'em all to the wall!!

Posted by Anonymous on 2009-11-19:
Well said Geronimo.
Posted by Anonymous on 2009-11-19:
Wow - how did so many people who can't balance their bank accounts learn to access the Internet? Oh, right, it's all point-and-click.
Posted by DebtorBasher on 2009-11-19:
Ok...who breathed life back into this old thread????
Posted by Ytropious on 2009-11-19:
2 years to the day LOL coincidence?
Posted by DebtorBasher on 2009-11-19:
LOL...I didn't even notice the day, just the year.
Posted by Big Brother on 2013-08-09:
Keep up with your own balance
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Bank of America is horrible!
Posted by Gee-Cee on 08/03/2005
DALLAS, TEXAS -- A few months back, I was at a Bank of America location inside of Albertson's making a deposit; I already had $300 in the account. I needed to make a $20 withdrawal. The teller wouldn't let me have any of my money. So, I stepped the 3 feet over to the ATM machine and withdrew the money myself.
This week, I deposited a check for $1,700. BoA has held it for 5 days now. They've also decided to let overdraft fees start mounting up after holding if for 5 days.
I told them it wasn't fair to access charges, etc. if I did not know the check would be held. The customer service lady at Bank of America told me that the overdraft fees will continue because I've had so many overdrafts in the past, they could have closed my account. Instead, they have accessed overdraft fees to me. However, I would not have had many of the overdraft fees if they were consistent in their policy on how long they hold deposits.
Their webpage states that if a deposit will be held, they will notify the customer. No one has ever notified me.
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Posted by KenPC on 2005-08-04:
So the problem is that BoA has "decided to let overdraft fees start mounting up" and not that you have decided to keep writing bad checks? Your post seems to imply that if you lose your job, it entitles you to bounce checks. Good luck in finding any financial institution anywhere who wants this kind of business.
Posted by Slimjim on 2005-08-04:
There aren’t a lot of banks that have use for people who consistently overdraw their accounts.
Posted by CB Baby on 2005-08-10:
The hold time is listed on your deposit receipt. you also have the responsibility of making sure that you have funds in your account BEFORE you make a purchase with your ATM Check Card or write a check. Since you have so many non sufficient funds they will continue to hold deposits because of your past record.
Posted by Ferngully on 2005-08-10:
I cant believe you were still writin checks and didnt know why the bank was cahrging you for.
Posted by JChittim on 2005-08-16:
I think the real problem here is the 5-day hold. I am also a bank of america account holder (for now) and I have been a victim of the 5 day hold. As you may know Bank of America just merged with Fleet Bank. Fleet had different policies than bank of america and because of this my paychecks used to take 1 day to clear. BOA has just switched the former fleet banks over to their national policies and therefore the 5-day hold is in effect for the former fleet customers, however they didn't notify us of this change. That is problem number 1.

Problem number 2 is that in reality it does not take 5 days for a check to clear. It does not even take a day. All transfers are electronic these days. If you bring a check to BOA for deposit they will scan account and routing number and the transaction will take place in seconds. BOA then holds the money use it to make money (interest). One persons paycheck may not sounds like a lot, but once you multiply by the thousands of people that are doing this each day it adds up and allows BOA to please their stockholders and grow even larger.
Posted by fink369 on 2005-08-28:
I've had similar problems with my bank holding funds and when I get my deposit reciept it doesn't reflect any amounts that are being held or are pending. As far as the first comment from KenPC is concerned-what bank wouldn't want to continue doing business in that manner. Banks won't close accounts for people who regularly bounce checks. In addition to the interest that they earn by having your money and in the cases of some deposits not allowing you to use it, banks make millions on NSF fees. For example, I work in property management. There is almost always a clause in most lease agreements that says that if you are late so many times in a year we can evict you because you are in default. I can tell you that in 6 years we've put exactly 0 people out for this reason. Why? We make money off the late fees. Our CEO even said to me once "late rent is better than no rent" and it is true. We'd rather have someone paying late plus a little extra than evicting them and getting nothing. It is the same for banks. They are out to make as much as they can off of the consumer. The new check 21 law allows money to be withdrawn faster which is great, I don't like having checks or other transactions pending, but if that is the case then deposits should be available to the consumer just as fast. The problems I've had with my bank have lead me to file a complaint with the Attorney General, I would suggest you do the same. Then contact your state legislators about ammending the check 21 law to address deposits.
Posted by inthamix on 2007-08-02:
For those of you still able to think of life before corporations so dominated society: if you're depositing a paycheck or pension check, that is money you earned fair and square. A bank shouldn't have the right to keep that money from you for two days, four days, eight days .... regardless of your banking history! Any of you who have written in to spout off bank policy and lecture the poster .... I hope you regain your ability to have independent thought. As others here and elsewhere have emphasized, banks make great money off of NSF fees. Whatever inconvenience or cost I may have caused them by seeking to spend my money according to MY schedule rather than theirs, is amply covered by NSF fees. Not to mention: does anyone really think that withholding someone's paycheck from them is a sensible way to address that person's pattern of bouncing checks? seems to me anyone with common sense would understand that this policy isn't really geared toward serving the customer ...... and yet so many have written in to defend it and lecture this person! wow ... it makes me sad for the future of humanity .......
Posted by inthamix on 2007-08-02:
ere's a challenge for all you "bank-bots" who are into reeling off bank policy on holding people's paycheck and pension deposits: take a look at what I experienced this week and see if you can dig up a policy that justifies what I experienced at the hands of my bank. My girlfriend is employed at a large local company that owns more than two dozen national chain restaurants in the area and is paid weekly. I am a freelance writer who writes mostly for a very, very large and well-known newspaper group that is based in New York City AND includes our local daily newspaper, for which I write. I also make weekly deposits. When my bank originally informed me six weeks ago that my girlfriend's payroll checks would be held for two days, I objected, and then was told that if I continued to make the deposit weekly, the computer would erase that "hold." Great .... I followed orders and after two weeks, no hold. Then just last week, the two-day hold was reinstated, I was told upon depositing the check. But why, I asked? I've followed your directions and the hold had been removed. Why was it popping up again? Don't know, the clerk said. Not only did my bank hold this check for two days; it became apparent after Day Two that the check was actually being held for FIVE days!! Wait, there's more: after depositing MY freelance check weekly for several weeks, with no holds, suddenly this week a four-day hold was placed on MY check, as well! NFS fees began to appear at an alarming rate; I marched in to the bank and vehemently objected. The fees were refunded, but I was given a lecture by the bank about A) being more aware of holds being placed on my checks and B) being nicer to the bank clerks when I come in with a complaint. When I asked for an explanation of why the holds were put on our checks in the first place, I was told first that holds are placed if the bank is uncertain whether a payroll check would clear; when I reminded the bank manager that both employers were household names, she brushed on past. Then, I was told that holds are placed if our account hs recently been in bad condition. I reminded the bank manager that our account was in better shape now, when the hold was placed, than it had been four weeks ago when the holds were removed. Again, no answer provided. So whaddaya think, those of you who can reel off bank policies like they are the Pledge of Allegiance .... how can you justify this one?
Posted by jrbrook76 on 2009-03-27:
They did this EXACT thing to me when I opened my account. The bank would put 10 day holds on my checks. 10 DAYS!!! And I've had the same thing happen, but I fought with managers for 45 min on the phone to get them to reverse the overdrafts. Unbelievable. This went on for months. I started cashing checks that weren't direct deposit at a check cashing place so that I could deposit cash.

I will say that my more recent experience with BOA has been positive. The phone reps have been extremely helpful and kind. They must be hiring in New England or something...not the ghetto people that used to answer the phone.
Posted by slycat on 2009-12-25:
Bank of America has always had one of the most lenient funds availability policies in the implementation of their policy. And a lot of the issues regarding hold times can be averted for checks deposited at the deposit image / multi-check atm's.

For most customers, customers who deposit an out of state check might expect to see a hold of up to five (5) business days (not including holidays and / or weekends). An in-state check might see a hold of up to two (2) business days. In either case, the first $100 will be available immediately.

There are a couple of exceptions, and they both are relevant in this thread. Longer holds may apply if the depositor has a high frequency of overdrafts (you're shooting yourself in the foot by not monitoring their balance), or if you're a new customer (first 30 CALANDAR days, not business days- so weekends and holidays count here). In either case, longer holds may apply, and the bank does not have to give you access to your first $100, and many times won't. This is nto specific to Bank of America, but rather is used at every bank I've ever done business with.

Also, regardless of account status, you can get funds quicker if you can cash it at the same bank for which it was written on, and you can also request a bank check whcih must have next day availability of the first $5,000.
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They lost TWO deposits!
Posted by SusannaMehta on 05/14/2006
CHICAGO, ILLINOIS -- Hi there, my name is Susanna *****. We have a nightmare to relate about Bank Of America deposits being "lost".

It all started about a month ago when I decided to sign my $2500 loan check out to my husband's bank account. We deposited the money in the ATM and thought nothing more of it. We had done this same transaction dozens of times with no problem.

Then came the note in his account that, "Payee not on account". Thinking that it was a simple mistake, we went to the bank branch to work it out. There, we found out that they claimed to have already mailed the check back. Only they didn't know if they had mailed it back to us, or to the issuer. So we had to wait to recieve the check, which wasn't going to be easy to stop or to reissue.

The check never arrived at either destination. Fortunately, we had contacted the issuer, paid the stop-payment fee, and paid to be reissued the check. (not to mention paying on a bounced money transfer to India!) They asked us to mail them the cancelled check should we ever recieve it. We never did.

So we changed the account to reflect my name as well as my husband's. We were assured that this could never happen again.

Three weeks later I deposited my daughter's Social Security check. It was to be paid in my name. I was clearly the payee. So I signed the check, and deposited it in the ATM.

Four days after that, we again recieved the same note, "payee not on account". Hoping to God that they didn't send this check out, I called the bank, only to recieve a callous note that my name on the account had been erroneously put as "Susanna *****-*****" instead of "Susanna ***** *****", and that screwup meant that the check in the name of Susanna ***** was rejected. Ok, so the check would again be sent to us, and we woudl simply re-deposit it, right?

WRONG. Not only did the check never arrive, but according to Social Security, it had been cashed in another state outside Illinois. The bank refused to take responsibility, and white SS will issue another check, I don't know what I will do about the one which was cashed. I did, after all, sign it! Thinking that it was going to be deposited into OUR account, I never thought that the Bank of America would LOSE it and that someone, possibly an employee of that same bank (after all, if it had been "lost in the mail", wouldn't it have been cashed here in IL??) might actually steal the deposit outright.

After speaking numerous times with officials at the office of the CEO of Bank of America, we have still never recieved any satisfaction. Nobody is admitting to any wrongdoing, and I may have to pay that money back to social security. I am really upset about this, as it is the second time in less than 30 days that it has happened. Obviously, something bad is going on at Bank Of America!

The contact information is this:

I first talked to the manager at Bank of America IL1-111-01-01
963 W Belmont Ave
Chicago, IL 60657
(773) 244-3093

Then after getting a pretty snotty response, I called:

Jan (pronounced "yan") Montero at CEO of BOA
(813) 882-1142

Then spoke to Leilani Southern, same CEO of BOA at
(704) 386-5687

Jan reimbursed us for the many fees we encountered after the $2500 fiasco. But he refuses to acknowlege BOA's fault in losing and/or stealing our social security check.

Leilani Southern was very obliging, and she said she would get back to me. She never did.

And that's where things stand. The scary part is that I wonder how many other customers have lost deposits to BOA?
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Posted by Anonymous on 2006-05-15:
Hi, Susane first of all...do it now...eliminate your last name because you've given the identity thieves more information to comit fraud against your account . Login in my3cents and click in the middle of the page to edit out your last name. NEVER POST YOUR FULL AND LAST NAME to a public posting you're asking for big trouble. You also might want to find a credit union who are for most part more liberal to deposits.
Posted by CrazyRedHead on 2006-05-15:
Also, get you social security check direct deposited. Never deposit anything through the ATM, If at all possible, go into the bank to deposit it.
Posted by Ponie on 2006-05-15:
What's with this junk of the hyphenated surnames? Don't like the surname of the man you intend to marry? Don't marry him! Sheesh.
Posted by rhondam718732 on 2006-05-15:
Ponie: You are getting me off track, but what a silly comment you made about the hyphenated name...get real. Try changing your name entirely and see what a MESS it can be...then maybe you'd understand why some women don't and/or still hyphenate...
Posted by Ponie on 2006-05-16:
rhonda, you hit on something I once did and I know exactly just what this entails. However, it was a complete change of my given name. So, Ms. (which is the abbreviation for miserable) Jones marries Mr. Smith. She decides to become Ms. Jones-Smith. They have a daughter. Is she Ms. Smith or Ms. Jones-Smith who later marries Mr. Black and becomes Ms. Jones-Smith-Black? Please note in the above letter a problem arose because of the omission of a hyphen!
Posted by broke on 2006-05-25:
CrazyRedHead is absolutely right. If you can do direct deposit, do it. But, if you can’t then when you endorse your check next time, write underneath your name & account number, “For Deposit Only”. I feel lucky now. Bank of America is only trying to screw me out of $130.00 in overdraft fees after telling them not to let anything else go thru.
Posted by Kathy2006 on 2006-06-12:
Going inside the bank and having a teller process your deposit is not necessarily safer than the ATM. I know. I had a teller AND the branch manager process my escrow check for 348k, and B of A STILL lost it.
Posted by BOA EMPLOYEE on 2006-06-19:
It is stated in your account disclosures that BOA dose not except third party checks. (that's when the check has the name of someone not on the account) Now most ATM deposit are processed by a machine and they do get thru every once in a while. However UPON an audit of the machine if one is in there at the time of the audit it will be returned. Now since we have put this in your disclosures, and you should have read them, it is not a bank error that the checks got returned out of the account. Most times the checks are returned to the issuer not the person depositing them, since the person depositing them isn't the payee of the check. So since they get mailed back to the issuer, all you get is a letter stating item rejected/returned for payee not account. Again this is not a bank error.
Posted by smoothylee on 2006-06-22:
I have had a similar thing happen. I have been a loyal customer for over 10 years and was temorarily working in another state. I live in California normally. I deposited a paycheck into my account through the teller inside and 2 months later I get a letter from them saying they have debited my account for the amount of the check, they accused me of double depositing the check (once at the teller, and once at the ATM) and they wanted no questions asked. How can they just debit my account and assume that I was wrong?? Talk about no customer service skills, no loyalty. After days of research, I got ahold of the payroll company that i was working for, they told me that that specific check in question never cleared their records. The only answer is B of A took my check, and it was misplaced somewhere between the deposit in the other state and California. It never was deposited into my California account. When I called to try to clear it all up, they transferred me from person to person. I was treated poorly- they said things like, "well you only got paid twice a month right?" And I thought, that's not the issue!!! Let alone I was paid weekly. They threw my loyalty out the window on this one, and I have decided to go to another bank. What a pain they have caused me. Now I need to transfer all my bills to my new account and deal with holds because of their incompetence. I plan to write to the top to show my displeasure. I am sure I won't get a response other than, "I am sorry for the inconvenience." Whatever....
Posted by taviles on 2006-08-24:
BOFA always has an excuse for something not working out right. Why we do not see as many postings from other banks like BOFA has?

BOFA has screwed up my direct posits when I was in the ARMY and these are federal fund deposited directly to my account and their excuse was computer glitches.

Posted by Dog_Lips on 2006-09-24:
BofA sucks.

I am in the same boat on 9/07 I deposited a check for $1800 dollars through the ATM of a local BOFA account. On 9/19 or 9/18 I received my monthly statement and it had a Miscelenious withdrawl on the same day as my original deposit on 09/07/2006 for $1800. So I promptly called the BofA Customer Service to see what the problem was and they said that the check had been withdrawn because of improper endorsement and that it was sent back to me via the mail so I should be receiving it by this Friday 09/22/06 which was 10 business days. And I think you know what happens next.

So I didn't receive the returned check on Friday so now I call BofA again on Saturday 9/23/06 at 1:00 pm and the customer service has no idea what has happened to the check and they don't know why I never received a letter stating that they had to withdrawl and send it back.

So now on Monday morning I have to go into the branch where I originally deposited the check and inquire where the hell my check went. The worse part is that it was from my tenant for a months rent and it was a cashiers check so if I can't find the check or where the funds went I will probably have to file a Fraud suite against them with the local police department because I heard, contrary to popular belief, that banks hate dealing with the police because it tarnishes their image. So hopefully they will be able to find the check but if they can't I am definitely filing a fraud suite against them.

Have any of you tried this?

Posted by LadyJay114 on 2007-04-26:
One thing I stopped doing a long time ago was making deposits into ATMs. I used to have issues frequently using this method. The problem with making deposits in ATMs is you dont know where your check is going or who's handling it. Also, you can't even prove to the bank that you actually put a check in the machine. I do all deposits now at the teller. When you go to the teller, there's all the proof in the world that they received your checks - the transaction is on camera, you know which teller took your deposit, the teller stamp acknowledges your deposit copy. The bank is less likely to screw up. Since changing the way I deposit, I've never had problems.
Posted by AndrewD on 2011-01-13:
I will never make another deposit into an ATM. I deposited a check today into a Bank of America ATM. The machine didn't credit my account and didn't return the check. Tomorrow I will try to stop the check. I called customer service at Bank of America and they were not helpful at all. Bank of America sucks.
Posted by MikeM on 2013-02-23:
Bank of America lost one check of a multicheck deposit that I made to a teller. The coveted receipt from the teller gave me was no help. I was told that it meant nothing. Check disappeared and was never cashed.
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