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site key
Posted by Beegee on 01/26/2006
PHOENIX, ARIZONA -- I have been with bank america for 27 years and have not any problems until now. The bank has required everyone who online banks to sign up on the site key for security, which they claim is award winning program, well we have been on it for almost a month and it is now down for the second time. A message come up when you try to log on and tells you to call a number to get the site key reset. The first time my husband called at night and it took 1 hour of waiting on the phone to get to talk to a human being. Today 1/26/06 the site key is down I called to request a reset and after waiting not to long (10 minutes) and answer a lot of questions about our account and me I was told I could not request the reset, even though my name is on the account,
that my husband, who is at work, would have to do it because part of his ss number was used as the login number. So now I'm stuck without onling capablities until my husband comes home and hopfully does not have to spend to much time on the phone to get the AWARD WINNING SITE KEY reset.
     
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Posted by Anonymous on 2006-01-26:
Look I couldn't sleep at night before the BOA site key. I was afraid somebody might, ah.. I'm not sure what I was afraid of but since BOA instituted the site key I have the serenity of a twelve stepper on the thirteenth step. Thank you BOA!
Posted by KenPC on 2006-01-30:
I too find teh Site Key a little cumbersome... but... you have to understand that all banks are being mandated to have a higher level of validation for online transactions. BoA is the first to market with a solution. Compared to what some of the other banks are looking at, this one may turn out to be a blessing.

Whatever a bank chooses, to comply with this new law, it won't be pretty.
Posted by meinnj on 2006-04-25:
I don't mind going through procedures designed to protect my identity, etc., but ONLY IF THEY WORK! Bank of America's Site Key doesn't. Every single time I try to access my account it tells me to call and have the site key reset. I went through it with their rep to see if maybe I was doing something wrong. No, it's them. And each time they assure me it's fixed. And then next day I can't access it again. It is VERY frustrating!
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Beware - this could happen to YOU!!!!!!
Posted by BARBIE7034 on 02/28/2006
NEW JERSEY -- I deposited over $900- cash this past Friday and left happily - looking forward to my weekend. Prior to this deposit my account went down pretty low because I had some automatic draft payments that went through - so the money I deposited would make up the bulk of what was in this particular account (I have 3 with Bank of America). I spent money at the grocery store that same night and paid with my debit card.... And then over the weekend I withdrew $$$ at an ATM once before arriving at church on sunday and then used my debit card for a few misc small purchases at various stores...... In total I spent about $350- of the 900+ I deposited on Friday. This morning (tuesday) I went to the gas station to put $10- in my tank on my way to work - the attendant said that my card was declined. In a panic, and thinking that there must be some mistake, I called immediately and found that the automated system was telling me that my account was overdrawn by 550.00!!!! Impossible!!!!!!! Luckily, and I say luckily because I usually throw them out, I saved my deposit receipt from Friday.

Now, ironically, when I withdrew $$$ on sunday my receipt said that I had the correct amount of money in my account - so, somewhere between sunday night and tuesday (today) something happened to mess up my account balance. Customer service assured me that they'd figure it out by the end of the day - but, this is really frustrating. Imagine how inconvenient this would be if I were away on a business trip or on vacation???? You deposit cash in good faith and think the $$$ is going to be there for you and suddenly you get the clerk telling you "i'm sorry, this card is coming up as declined" - your heart sinks and you start wondering how it could be...... I pray they figure this out and I don't have any more problems! This definitely affects my trust!!!!
     
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Posted by CobraCat77 on 2006-02-28:
Many banks have policies that if you do not deposit by 1 or 2 pm, the deposit is not accounted for until the next business day's midnight (ie Monday at midnight). As for the reciept that showed what you thought was your correct balance, it may have been your POSTED balance,not your AVAILABLE balance. Either way, if you don't know your bank's policies and are willing to tempt fate by keeping such a low balance in your account, then I feel no pity.
Posted by BOA EMPLOYEE on 2006-04-03:
I am now a supervisor for Customer Service and Support for BOA. first let me say some of you have valid complaints and I do apologize on BOA's behalf.
As far as the on-line banking, automated phones service, ATM machines or even customer service they are all just tools to assist you with knowing what has come in at the moment you are looking at the acct. There is no way for a computer or person to know what items you still have outstanding, We don't put microchips in your checks, but since it is your money and your checks you know what you are spending, so use the tools we provide but keep your own records too.
There are cutoff times for ATM transactions and in your account disclosures it does tell you they very state to state and to call customer service to get the exact times. I am sorry if you choose not to read the information provided to you but it is in writing.
As far as holds on your deposit there is a federal regulation call REG. CC that states whenever you make a deposit it is subject to holds. And depends on 3 things, 1. is the deposit cash (will have no hold) 2. Is it a local, non local check, 3. and is it over $5000.00. If it falls under any of #2 or #3 then expect a hold. Again this info is provided to you in your ACCT disclosures if you as an adult choose not to read that information provided to you than its not the banks fault but your own.
And Bank of America really does appreciate and value each and every one of their customers, but we cannot condone abusing your accounts. We will treat all customers with respect but since we are human to, try given the customer service reps some respect to, be amazed how much more of a nicer experience you could have if you didn't swear at people. Well, I have said what was on my mind and thank you for hearing me.

Posted by taviles on 2006-08-24:
BOFA Always has an excuse that is their computer system doing this. I think it is time time for them to stop spending money on advertising and to start spending the overdraft money they charge you on new computer systems.
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Bank Cashier Check
Posted by Goody on 02/16/2006
NEW YORK CITY, NEW YORK -- I purchased from Bank of America a cashier's check in the amount of $2000.00 ion January 23, 2006. I have been a Bank of America customers for quite a while, I was never really satisfied with their service but a creature of habit I stayed with them. Anyway I mailed the cashier's check to a company on February 3, 2006 for a very important purchase. The purchase price on this item was only good up through a particular date in Mid-February. I called the company inquiring about the delivery of my item and was told that they have not received the cashier's check. I call the 800 number of BOA and asked why needed to be done to cancel the (lost) cashier's check and issue another. The CS rep told me to go to any branch and they will do exactly that. Well needless to say I entered the BOA branch in NYC and told the gentleman that greeted at the door what I needed and what their CS rep had told me to do. He directed me to the teller window where I waited 1/2 hour to be waited on. When I explained to the teller what I needed she told me to see the gentleman at the door. (The same guy who told me to see her). After I explained this to her she called a woman over. I explained to her my situation and she stated that she did not know what to do. I told her to do what the CS rep said and give me a new check. After a round of unless questions like (Is the check lost?)I was told that they could not reissue a new check until 91 (YES 91) DAYS LATER. I was told that the CS rep was incorrect and that unless I could give the bank double (YES DOUBLE) the amount of the check to hold for 91 days, I could not get a BANK CERTIFIED CHECK re-issued. I had to pay for the purchase again and will not be able to get my money back until April 23rd, 2006.
     
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Posted by Hugh_Jorgen on 2006-02-17:
I think their reasoning is that after 90 days the first check will be subject to more scrutiny if it is presented for payment and the chances of it getting caught before it is paid increase quite a bit.

Their fear is that they re-issue the check, you use it and a few days later the first check re-appears and gets cashed anyway.

They are just trying to protect the bank. And let's face it - you lost the first check, not the bank.
Posted by dsmith68 on 2006-02-17:
The only times I use cashier's checks is when I physically hand it to seller and I immediately walk away with the product.
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Class Action Lawsuit Against Bank Of America Anyone?
Posted by Hatecrooks on 03/17/2009
THANKS TO ALL OF YOU WHO EMAILED ME YOUR INTERESTS, CALIFORNIA -- FILE FTC COMPLAINTS HERE information is at the end of my review:
Well, what can I say? After having experience it for myself, I wish that I had done a quick net search BANK OF AMERICA RIP OFF and read the thousands of Americans that have been reamed by this institution. I would have taken my small business bucks elsewhere! Within the roughly six months that I have been with this 'bank', I have authorized under 5 checks. In all fairness, I have bounced one of them because of a deposit that was made and 'held' by BofA conveniently until this item bounced and I was assessed a fee. However, BofA has managed to rack up a whopping 1700apx in fees and I do not even know from where these are coming. I have payroll and expenses and so I opened up another checkings account in order to pay these people and EVERY dollar placed into this account, BofA takes and puts into the other EVER increasing in fees account! Now, they are going after my unattached personal bank savings accounts?? My business accounts are attached to my EIN # and my personal savings are attached to my social security #, I called and confirmed that they were in fact unattached (recorded the conversation--always record your conversations with BofA) yet they persist with stealing this money from me!! Bofa has even gone so far as to change my personal accounts into business accounts! I have proof, their own proof, that they have done this!! So, now, I am sustaining damages and may have to close my business and go on welfare to pay my rent...SHAME ON YOU BofA. If you cannot get 'Stimulus' money, it is not right for you to steal it from the blood and sweat of hard-working Americans...SHAME OF YOU BOFA.

ADDENDUM:
I believe that I will file suit (small claims or other), file complaints with the BBB, file complaints with the consumer departments within the Federal and State governments, alert President Obama that he also needs to be 'pissed' off at predatory banks such as BofA (not just AIG)...

I found this information from another poster (whose post has somehow become 'unavailable'...hummm? Oh well, until I am censored, file banking complaints here:
(enough complaints will bring action)

Office of the Comptroller of
Currency
Customer Assistance Group
1301 McKinney St., Ste 3450
Houston, TX 77010
1-800-613-6743 or email: customer.assistance at occ.treas.gov
COPY TO:
FDIC CONSUMER RESPONSE CENTER
3245 Grand Boulevard, Ste 100
Kansas City, MO 64108
Fax #703-812-1020

BTW:
The poster below, has been quoted as posting I LOVE BANK OF AMERICA! Every single post that he/she has posted has been gleaming towards bofa and others (all that I have read)...Hummmm. Can you spell paid t r o l l?? Online Reputation Management Companies are pretty good at what they do, guys. Read all of the comments-those of the below poster and those of his comrades as well as others who have had more real experiences with bofa and other institutions.
     
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Posted by Soaring Consumer on 2009-03-17:
Oh, this is definitely predatory.

You will need a lawyer, because this is massive banking fraud that BOA is committing.

Voted helpful.
Posted by Slimjim on 2009-03-17:
Posted by Slimjim on 2009-03-17:
You should be on the phone with them constantly until you do know where the fees are derived from. At that point, you can decide if retaining council to litigate would be prudent.
Posted by Anonymous on 2009-03-17:
There is no fraud here. The poster admits to bouncing a check. Probably more than one... probably more than twenty. What is needed is an accountant type who can sort out his accounts and get them in balance. I would also suggest making an appointment with the branch manager. Explain that you're in over your head with this problem and see if they will work with you to resolve this.

Once that is done, keep your personal accounts separate from your business accounts. Banks have a right of setoff, and they can take funds from any account on which you sign. Always a good idea to have them in another bank.
Posted by Slimjim on 2009-03-17:
Solid advice Ken.
Posted by grandma005 on 2009-03-17:
Ken is right! Only have one account with each Bank. I learned this the hard way.
Posted by Soaring Consumer on 2009-03-17:
Here is the problem, he is not being told what the fees are for and why the fees are still increasing and why they changed his account types and linked his accounts without authorization.
Posted by Anonymous on 2009-03-17:
You j/k about sending a bomb to your local branch? I'm sure the Feds will j/k when they haul your butt to court and prosecute you.

I am not a fan of BoA at all, but Ken got this one right. The bank is not comitting fraud here, it's you that's comitting fraud.
Posted by Slimjim on 2009-03-17:
Soaring, do you really believe the bank is charging $1,700 in fees and actually not saying why.
Posted by Anonymous on 2009-03-17:
SC, you're only reading one side of the story here..a bank cannot arbitrarily change a person's account type. If this were the case, this person would already have retained an attorney and gone after them for fraudulent practices. A bank can however take funds from one account to cover fees in another account, as previously explained it's called a right of offset. It doesn't matter if one is a business account and the other is a personal account, as long as the name is on both, it can be done.
Posted by Soaring Consumer on 2009-03-17:
There are indeed many holes in the story that need filling:
"I have bounced one of them because of a deposit that was made and 'held' by bofa conveniently until this item bounced and I was assessed a fee." How long was the deposit held? What type of deposit was it? (cash, check, etc)

What it seems to me is that they are just adding fees on top of fees on top of fees on top of fees, yet what nobody knows is that if these fees are actually legitimate or not. This definitely seems completely separate from the bounced check fee. Right of offset is understandable, but if the money is just being thrown into something I will title "an illegitimate void" then I would consider it fraud.

And according to the OP, the bank did arbitrarily change his account types.


As far as I see it, I usually assume that everything posted is true until proven otherwise, especially since he claims to have proof.
Posted by hatecrooks on 2009-03-17:
Ok. Well it seems that I have taken my break at an appropriate time. To clear up so things: the ONE check that was bounced was bounced with a deposit that covered the amount 6 times over-however it was a check that was deposited. I have several accounts with the crooks opps I mean with bofa and when the fleecing started with the account that amassed to 1700, I was told that electronic debits, etc were causing the fees--however, they bofa would not render much information on these accounts save a couple of toll free #s for which I could never reach anyone and phone calls were not returned. Now, I was told by our friendly bofa rep that access to that account would be blocked for me. It was not and the charges (8 at one time) continued. My company accounts were under an corporation and my personal accounts were under my ssn. An corporation is a legal and separate entity so attaching my personal assets should not have been an automatic at-their-discretion thing. I had not since sought counsel because I wanted to believe that we could handle the situation at this level without my having to get the FTC, the BBB, the Federal and State Consumer Protection agencies, and legal counsel involved. However, it seems, that this will have to be one fought in court and/or the court of public opinion. A quick net search and you will see that I am not the only victim of bofa.

P.S.
To the ones responding who, clearly have been hired by bofa, to monitor their online reputations, nice try. You are obvious.
Posted by madconsumer on 2009-03-17:
ken, spot on as usual. best answer!
Posted by madconsumer on 2009-03-17:
by the posters rehetoric reply, it shows they need not have a bank of america account.

"P.S.
To the ones responding who, clearly have been hired by bofa, to monitor their online reputations, nice try. You are obvious."

ever heard of satified customers??
Posted by hatecrooks on 2009-03-17:
"Ever heard of a satisfied customer?"...

Not with bofa yet.
Posted by Anonymous on 2009-03-17:
With all the alternatives available I for the life of me don't know why anybody would risk doing business with BoA.
Posted by old fart on 2009-03-17:
"send a mail bomb to your local Branch"...???

That's not a joking matter bud!

(I assume admin has already taken note of this...)
Posted by Anonymous on 2009-03-17:
old_fart -- After you turn this OP into the site admin why don't you forward a copy along to the FBI. I'm sure the boys at the bureau will get right on this one.
Posted by old fart on 2009-03-17:
I'm pretty sure admin has already read this one crabs.. they don't need my help...
Posted by Anonymous on 2009-03-17:
"My company accounts were under an corporation and my personal accounts were under my ssn. An corporation is a legal and separate entity so attaching my personal assets should not have been an automatic at-their-discretion thing."

hatecrooks, it would greatly benefit you to read the T&C of your agreement with BoA..they can and do exercise their "right of offset"...if your name is on both accounts that all they need. It doesn't matter that one is a business account and the other a personal account.

There are many posts here about BoA's shady ways of posting deposts/credits that cause the most amount of NSF's for their customers, that I find apalling... but I think in your case, based on what you've told us, that there may be a bigger issue here of understanding how managing an account, or multiple accounts, works. JMHO of course and I am thankfully not a BoA employee.
Posted by Slimjim on 2009-03-17:
OF-correct
hatecrooks-incorrect. I'm not saying it won't happen, but I'm like mad and have never had a problem with Bank of America. On a corporate level doing business with them, they aren't my favorites when it comes to their protocols, but using them as for credit card and personal accounts, has been almost pleasant for me.
Posted by Labrynthfire on 2009-03-17:
If you have trouble paying your bill don't just not pay it. Call them and discuss what can be done. I see to many consumers violating their end of a contract and blaming the bank. You also should not have been doing business banking with personal accounts. I have a BoA credit card, mortgage, saving and checking accounts...never had a problem.
Posted by hatecrooks on 2009-03-17:
Old?? I am probably younger than you, old fart...just for the record, we 'kids' call j/k JUST KIDDING. One who is serious wouldn;t post it they would do it....Anyhow, ok so your advice is to read the fine print before dealing with bofa. It must have been really fine because I did not notice this clause in any of the paperwork that I received. Maybe it came with the paperwork that was sent to me one week later in my 'welcome' package? Now, for ACTUAL consumers on this bulletin, beware of bofa. Do not just read my post, do a net search on this bank and any other bank. How you bave behaved towards old customers determines how you will behave towards future customers. The choice is yours. For the paid bofa, etc, trolls...how much do they pay you? Just curious.
Posted by Anonymous on 2009-03-17:
hatecrooks -- Honestly dude why don't click on 'Edit Review' then delete the 'mail bomb' part out. It adds no flavor to your complaint.
Posted by old fart on 2009-03-17:
Hatecrooks.. it was wise of you to remove the bomb reference.. smart young man there!
Posted by Slimjim on 2009-03-17:
1. first, lose the tude and the accusations about shills and BOA employees HC. All rebuttals here are common sense replies and show no inclination of BOA partisanship. Credibility really takes a dive when posters start that "you must work there" cr@p simply because they disagree.
2. I think you hit it when you said do a search on this OR ANY other bank. Fact is, all banks have tremendous amounts of complaints, no matter which one you review. Simple numbers in customers accounts for a lot of that.
Posted by hatecrooks on 2009-03-17:
Labyrnthfire...I was not doing business with personal accounts. Again, my personal accounts were kept separate and not utilized by me for business usage. The additional business account was to be used for business expenses. Bofa took money out of my personal accounts. I have no problems paying my bills, but the balance was growing so fast because of fees assessed by the bank. All they would provide me were toll free #s that were useless. Now, I am going back to work...so I can pay bofa so more bank fees...
Posted by hatecrooks on 2009-03-17:
Thanks for the advice, Slim. It just seems a little suspicious when a poster only has glowing reports about everything and on every bulletin, somewhat. Most consumers would not take this much time to comment on a positive experience--I mean litigate as if their life and their commission depended on it. I believe in difference of opinion, but be truthful. If you are a paid poster, state so. If not, post away, however, if it comes across as personal (or, vested interest), it probably is.
Posted by hatecrooks on 2009-03-17:
slim,
btw, I do not have an attitude and do not want it to come across this way. I am actually pretty calm, smiling (b/c I am already problem-solving) and pleasant as usual. Thanks.
Posted by hatecrooks on 2009-03-17:
COMPLAINTS:

Office of the Comptroller of
Currency
Customer Assistance Group
1301 McKinney St., Ste 3450
Houston, TX 77010
1-800-613-6743 or email: customer.assistance at occ.treas.gov
COPY TO:
FDIC CONSUMER RESPONSE CENTER
3245 Grand Boulevard, Ste 100
Kansas City, MO 64108
Fax #703-812-1020
Posted by madconsumer on 2009-03-17:
bank of america is for people who can manage a positive bank account. all others need to use a credit union or a tin can and matress.
Posted by hatecrooks on 2009-03-17:
CRM/SEO...CRM/SEO...CRM/SEO...Reputation Management Company/Search Engine Optimization...I have been wronged by this institution and I am STILL willing to hear all sides! Any person who is locked into one position without flexibility is either fixated or on the books. There are options for those companies and company reps who want to post their responses...not on the BB posing as a consumer like a wolf in sheep's clothing leading real sheeps astray.
Posted by hatecrooks on 2009-03-17:
"
madconsumer (03/17/2009)...all others need to use a credit union or a tin can and matress."

At least your money would be safe from legal bank robbers (banks) and will earn the same interest. Hey, a tin can might be America's answer guys!!! Maybe we can,individually get some 'bail out' money to stimulate our economy!! lol
Posted by madconsumer on 2009-03-17:
i earn interest, do not pay over draft fees, have no hidden fees, my deposits are available in a resonable amount of time. as long as i have available balance, it does not matter what order my debits are made. i do not count on an immediate deposit to cover purchases i made.
Posted by livefully on 2009-03-18:
thanks for the info. i agree send the president our concerns he said he wanted to hear them. maybe if they get enough compliants Bank of America will finally have to help the people that keeps them in business. If we are giving them money to hand out to people why are they not doing it. what are they doing with the stimulus money they got hum.
Posted by CrazyRedHead on 2009-03-18:
I wish I would get paid for posting good things about BOA or any other company.
Posted by hatecrooks on 2009-03-18:
You are welcome, Livefully. Banks are a good and necessary element, however, fairness and good business practices which consider the Goodwill element must be implemented into their policies. Otherwise, greed runs the show.

CrazyRedhead, if you want to get paid to post good comments you can sign up with any Results Management Company or Search Engine Optimization company that has available openings and that you meet their individual requirements.
Posted by chacoatah99@yahoo.com on 2009-03-22:
what good is $78.00 going to do when they stole over $4000.00 from me in this overdraft thing the problem that I had two accounts that were linked with bank of america and the fact that they had overdraft protection on them didn't mean anything at all. The saddest part of it all was it was opened by the bank of america MANAGER herself in rincon ga it took me months to find it, being a single mom of three i worked 15 plus hours a day and did not have internet access to my account. when I did discover it I confronted the bank manager her response was "I can't do anything about it you should have kept better tabs on your money" which was precisely what I thought I was paying them more for, is it not? not only did they close my account, but they reported me to the credit bureau preventing me from EVER having another account with anyone!! Then to top it ALL off they had the audicity to send me a bill trying to say i owed them more. Nobody at the company would do anything always telling me someone would be contacting me of course that never happened. I do till this day have all the proof to validate these claims anyone that has any advice or similar problems please advise...
Posted by hatecrooks on 2009-03-23:
A family member of mine was conversing with our neighbor and the same thing was done to her son...predatorial fee practices, etc. When I met with a representative at the bank, I could hear the conversation of another bofa customer...same problem...overdraft fee charges where there should not be any...I believe it cost under $20 to file a small claims court lawsuit in most states....Maybe everyone who is being robbed by bofa should file suit in order to get their fees returned??
Posted by grandma005 on 2009-07-17:
Chase taught me a lesson again. They took a Bill payment out of another account that I did not have enough money in and charged me a NSF fee.
Posted by armywife74 on 2009-09-22:
I have had an account with BofA for a few years and never incurred a problem with them til Jan 2009 when I started getting these so called "overdraft fees" on my account when in all actuality my account never went into the negatives. I have recieved a refund for only two of the many fee's they have charged. When I contact them in regards to the matter of charging overdraft fee's when my account never went into overdraft, they give me the so called "manage your money spill", "make sure you have enough in your account", etc. They inform me that the reason my account was charged overdrafts fee's was because of an authorization that never left or cleared my account for 2 days later and so once that authorization was placed, my account went into overdrafts, thus triggering an overdraft charge. But at the end of that same business day, my account was not in the negatives, never in the negatives all day. They also informed me to go by my record of items coming out of my account and my record of my account balance, that I could not rely on their "account balance" that I was given online, over the phone, or via ATM. So if I can't rely on my balance on the internet, over the phone, or via ATM to be correct, then how do I know that they are correctly charging me overdraft fee's when infact according to their own bank statement I recieve in the mail, shows my account was never in the negatives. How is this a rightful charge? If an authorization is placed on my account, and if you read the fine print on their authorization information, it states that they can charge an unspeicified amount since they don't know the correct amount until the retailer or merchant sends the order for the money. So they can charge me for an overdraft fee because of an authorization for money that never left my account til days later. Does not make sense to me. Is it legal? Where does the money for these authorizations go if the money doesn't leave my account for days? If the money is not immediatly taken out of my account, how can they say an authorization made my account overdraw there for charging overdraft fee's for items that cleared my account that day and when my account clearly states via bank statement it was never in the negatives?
Posted by armywife74 on 2009-09-22:
Ok lets put it another way for you so called "perfect" customers who have never had a problem with BofA. How can an authorization for an "unspecified amount" (remember BofA clearly states they don't know the correct amount for the debit til the merchant sends a request which could be days later) trigger an overdraft fee when in all actuality the bank doesn't know the correct amount of the debit they are authorizing? How can you take money out of my account for an authorization that doesn't have the correct amount on it (for example, a resturant ticket, waitress processes your card for the total amount minus tip, you then add the tip to the amount authorized and then the merchant gets the money several days later)and then tell me that this authorization triggered an overdraft fee for two items that cleared my account on the same day. How can you give an authorization for money when you don't know the correct amount of money coming out of the account for that specific transaction? How can you place a hold for an authoriztion if you don't know the exact amount? I could have enough in my account to cover all the transactions and the authorization could be $1 more than the actual amount of the debit and trigger an overdraft fee when in all actualality, there was enough in my account to cover all debits, but because the bank authorized more money than what the authorization was for, it triggered an overdraft charge. Is that not the banks fault? Not mine? It doesn't matter what's on my registar, the bank doesn't go by my registar, they go by their computing system which supports the online banking, phone inquiry, and ATM inquiry. So if I shouldn't go by my account balance online, via phone, or ATM, then why should I believe they are charging me correctly for overdrafts if their banking system is faulty and doesn't give the correct balance? If I have a discrepency in my account, which method do you think the bank is going to go by, their bank statements or my registar. Therefore, it's pretty much useless to have the registar if it's only for my accountability and not the banks. So if everyone is stating it's the customer's fault that they are charged overdraft fees, explain to me what the heck the registar has to do with my account balance in the bank when my balance on my registar is different than what the bank is telling me I have in my account and what is and what's not been taking out of my account. What happened to BofA policy of we won't take the actual money out of your account until the merchant request the specific amount and the item clears your account and we'll only allow them to authorize $1 instead authorizing unspecified amounts since the bank does not know what your true debit is until the merchant sends in the request? Everyone has an opinion but if you look online at the many many bad experiences that customers are experiencing from BofA and especially after the whole Merrill Lynch/BofA merger and BofA paying billions of dollars in bonuses illegaly, then that should tell you something about their banking procedures.
Posted by Holdupamerica on 2012-03-01:
this gives a hole new meaning to tern to bank robbery and adds new respect to Robin hood, billy the kid, and the next in line to stand up for American people.................
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"Keep the Change" Program
Posted by Babykk on 06/24/2008
I have tried numerous times to stop this on my checking account. I am charged $3.00 monthly to have them take money from my checking account!!!!!! Do you know how much money I would have for all the $3.00 they have stolen?

How convenient to "sign-up" for Keep the Change on-line but cannot "discontinue" on-line. Apparently you can't do it in person either because I've tried IN PERSON TWICE to at TWO different branches of B of America. What's wrong with this picture?

Debra Wright
Dissatisfied Customer of Bank of America
     
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Posted by tnchuck100 on 2008-06-24:
If only people could realize what is happening. "Keep the change" is simply one more way Bank of America has come up with to increase the chance you will overdraft. It makes it more difficult to accurately track your balance. You spend $14.10, they deduct $15.00 from the account. Granted, you don't lose the money. The 90 cents went to another account. But, the checking account is 90 cents less than you spent. Yes, you can track this correctly. However, Bank of America is counting on a lot of people won't. Hence, more overdraft fees. Their ingenuity is boundless.

Do yourself a favor, dump the greedy dirt bags before they financially cripple you. Find a credit union.
Posted by Anonymous on 2008-06-24:
Chuck -- Never thought of it that way but you make an excellent observation.
Posted by Anonymous on 2008-06-24:
I would politely disagree. Considering the large number of people who can't be bothered to keep a register, or at least keep track at time of purchase, I would think it would be easier to track an even $15, then say $14.36. I use this program on my BoA account, and find at the end of the year I have moved a healthy chunk into my savings.

I am not clear what the $3 charge the poster mentions is for. I don't pay any fees on my account, and I use this service. That amount sounds like it might just be a monthly maintenance fee on the account itself.
Posted by tnchuck100 on 2008-06-24:
Ken, as I stated, this CAN be tracked properly by the customer. My point is the bank knows many people will fail at this thereby generating more revenue for the bank.
Posted by Anonymous on 2008-06-24:
Ken - You would have to agree that BoA instituted the 'keep the change' program as a way to make money, right? Come on BoA does nothing altruistically. So did they do it to garner new customers or to increase their reserves? Perhaps but I would bet you 10 shiny 2008 pennies that what chuck described also came into play.. It just sounds too much like an actuary's brain fart.
Posted by DigitalCommando on 2008-06-24:
I agree with LMD's last statement because it was forceful, and it employed multi-syllabic "convincers".
Posted by Anonymous on 2008-06-24:
Wow, I find my self agreeing with Lois. I must be coming down with a fever. LOL (joking Lois). I have to echo what most have said here. Ken, you may not have a fee if you keep a certain amount of money in your account. All in all, B of A charges $3.00 to move the money to your savings account and then probably charges another maintenance fee on the savings account itself. B of A nickled and dimed me to death . . . thats why I moved my money to the credit union. With the many service centers that can accomodate all CU members, it is as convenient for me as if I belonged to one of the big banks.
Posted by DebtorBasher on 2008-06-24:
Posted by DebtorBasher on 2008-06-24:
Chuckie...I didn't really know how that worked...but you're right. If a person can't keep track of their deductions and deposits to begin with, which is why they would sign up for any kind of overdraft plan, then it is just going to cause them to overdraft more often.

It they can't deduct $14.10...then they certainly won't deduct the difference and add the difference into another account...they will have to balance two accounts instead on one...but they know it's money in their pockets for making it "easier" on the customer.

Add your deposits, deduct your withdrawls/checks/debits...and don't forget pending transactions that hasn't yet cleared.
Posted by CrazyRedHead on 2008-06-24:
I don't know what the problem is here, but I have the Keep the change program for 2 years and it works fine. I have direct deposit on my checking account with enables it to have no maintenance fees. The Keep the Change program is considered a direct deposit to my savings account which means no maintenance fees on my savings account. So I don't know where the 3 dollars is coming from.

I have occasionally drawn my account down pretty low, which I usually try and avoid. If the Keep the Change transfer is going to negatively affect my account it is canceled by the bank. BOA has told me that to prevent my account from going overdrawn they canceled the transfer, which leads me to believe that BOA isn't out to screw there customers.

I have had no trouble managing my account with this program and find it helpful when I need a couple extra dollars. At the end of the year BOA matches what I have saved through the year. Which means if I have saved $50.00 BOA will credit my account for an extra $50.00.

All of these complaints about banks and overdrafts and predatory things just doesn't make sense to me. If you adequate funds available it shouldn't matter in what order they come in, they all should clear. The majority of these complaints are from people that just don't know how to manage a checking account. I know that the banks screw up sometimes but it is in the minority of the time.
Posted by tnchuck100 on 2008-06-24:
Crazy: "I don't know what the problem is here,..". Therein lies the problem. Most people do not understand what is happening or can happen to them. Bank of America relies on this. You, as one individual, may have the resources to avoid the traps.

Just because you have not been caught in one of their schemes should not prevent you from understanding what they are.
Posted by CrazyRedHead on 2008-06-24:
I have been with BOA for the past 20 years with no problem in the last 10. I have read the little booklet that came when I opened my account. I keep adequate funds in my account so that they all clear. I don't float (anymore)nor do I write for what I don't have. I nearly ended up in jail and learned the very hard way how to properly manage my account. I could have saved a third world country with all the over drafts I racked up.

I'm not going to go into anymore details about my situation, but I do know what can happen if I screw up. I don't have any more resources than what anyone else has. If customers would stop floating and writing for what they don't have a lot of these complaints would stop.


I know that a lot of people have had a rough time at the bank, but most of them brought it on themselves.
Posted by madconsumer on 2008-06-24:
i have been with bank of america for a very long time. i as well have keep the change. i have NEVER been charged for these transactions. not sure why you would be.

to cancel, you simply close the account. if you wish to keep a savings account, you will need to re-open one.

tnchuck, i am so tired of all your negative words against any major bank. not all banks are thieves, and not all banks rip people off. i am with the rest of the people who have never had any issues with bank of america.

bottom line, if people could keep acurate balances and check registers, then no bank would make any money.
Posted by dko61 on 2008-06-24:
We all must keep in mind that not everyone has the Luxury or Income to keep ADEQUATE funds in there accounts. This is what B of A is counting on, 90 cents here, 25 cents there to someone who runs close each pay period could indeed start a chain reaction of fees.

Many of these being young students or single parents.

I know I raised 2 children alone and didn't have the income to keep extra money in and so when ever a charge came through that I didn't authorize it took weeks before credits were issued. And thus putting my account in serious state and no money to care for my children. They charge your account instantly credits back to your account are another story all together.

Believe me I know I worked in Banking for years and the practices and the treatment of low income customers was so terrible I quit.
Posted by *Brenda* on 2008-06-24:
dk if they don't have the luxury of saving a few cents here and there than they shouldn't sign up for the program.

I used to have this program and I was never charged any maintenance fees so I'm not sure what the OP is talking about. I just used their online chat to ask if it was a free program in every state and the rep said yes.
Posted by Anonymous on 2008-06-24:
dk, keeping adequate funds in the bank account is not a "luxury". If a person cannot keep funds in their accounts to cover their expenses then they can expect not only account maintenance fees, but NSF fees as well. Not being able to cover unauthorized charges is another story...and I would go after ANY financial institution with every bone in my body.
Posted by speedy relief on 2008-06-25:
I've read this post and DOZENS of other posts from other disgruntled customers of this bank. Must be something in the wind, if hundreds of people are experiencing the VERY SAME problems with BOA. I've also recently opened the "keep the change" program with BOA, which means THEY get to keep MORE of my change. I've done DEBITS using my PIN to make gas purchases on WEEKDAYS (which the $$ come out instantly), and then did the same thing on WEEKENDS. What I found is BOA DOESN'T INSTANTLY TAKE THE DEBIT OUT OVER THE WEEKEND! Something wrong with that picture If you take money from their ATMs, weekdays or weekends, the $$ and balance in account shows instantly. What's the differnce?
Posted by Anonymous on 2008-06-30:
You don't get charged fees with this program. Debit cards are for the uninitiated because most people don't keep track of their daily balance and overdraft all the time.
Use cash instead.
Posted by PolishGirl on 2008-07-07:
All that you have to do is contact customer service on the phone and the representative will cancel the keep the change program for you. In order to avoid the $3 fee in the savings account, you have to either have a balance of $300 in the savings account or do an automatic transfer from the checking to savings of $25 each statement cycle.
Posted by TERMINATEpredatorBOA on 2011-09-03:
BOA is the biggest fraud company. They didnt credit my money or any matching bullcrap money on the anniversary. They are fraud company, infact reduced my keep the change savings and change the notification saying it will be credited after 8 weeks after anniversary. WHAT A FRAUD COMPANY....
Posted by Cici on 2012-10-15:
My personal problem with Bank of America has been slightly different but still relevant to keep the change. The problem for me is that they don't automatically subtract the change, I usually make several large purchases around payday because well, I have bills to pay. but the money doesn't simply go directly to the savings account. So I continue to make purchases throughout the week and then a scheduled transfer may take anywhere from 3-10 dollars out of my account. Also, not all of my purchases go through automatically so if I use my phone to regulrly check my balance (which I do) I may think I have more money than I actually do in my account. I try to leave at least $5 in my account at all times but when the keep the change transfer finally rolls around it might be more than $5 and I'm charged an overdraft fee, then if I try to transfer money into my checking account I'm charged a transfer fee and right there is a loss of $50. I understand that if I tracked my money (which may be very simple) I could probably avoid this problem but I feel like my bank should be making this simpler for me. I have also had other issues with the bank including them sending me statements with the wrong first name and my pin number occasssionally not working. I have also had them charge me for the same thing twice on many occasions in which cases they usually fixed the problem but one such occasion I lost $3. My alternative option is to get a card from my company which all the money will transfer to but I am charged a $10 fee for withdrawaling my money. I still think that would be better than an occasion and/or $15 fee.
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Debt Consolidation Mailers
Posted by Z4pepe on 03/01/2007
NORTH CAROLINA -- Recently I received a mailer from Bank of America offering a Debt Consolidation Loan. The amounts to borrow ranged up to $50,000 with payments broken down by 60/72/84/96 Months. When I received this mailer, I reviewed my Credit Card Debt and decided I could consolidate the debt into one payment, shorten the payoff time considerably and be debt free. When I called today, I was turned down. Why offer me a way out of debt if you are going to slam the door in my face. Thank you Bank of America for refusing to do business with me, I'm sure Wachovia will be more than happy to help. You need to stop playing with people and giving them false hope. I can more than afford to pay my bills. I'd just wanted a plan where I would be able to pay towards the principle every month instead of just interest. If the lending institutions would give the working people a chance, maybe there wouldn't be so many people filing Bankruptcy. But you would rather get a small portion of what is owed instead of the full amount. Sleep well. There is a judgment day!
     
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Posted by Anonymous on 2007-03-01:
Ok, so is Wachovia helping you?
Posted by heaven17 on 2007-03-01:
Was this a personal letter or one of those mass mailings?
Posted by grandma005 on 2007-03-01:
They send these mailers out to everyone, hoping that you have
good enough credit. They don't know what your credit score is
until you apply.
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Paid a Canceled & Expired Check
Posted by Lika on 06/08/2005
NEW YORK CITY -- Background: I live in NYC, and my previous landlord was a crook, no big surprise there. As I am moving out of the apartment, my landlord informs me that he did not receive one of my rent checks. I assure him that I mailed each and every payment, and could only conclude that he lost the check. Here's where BoA comes into play. I PAY BoA to cancel the check in question, and write my landlord another check (which is not a small sum).

Over ONE YEAR later: I am mysteriously not able to withdraw money from my account, so I visit a BoA branch to determine the source of the problem. They inform me that my account shows a negative balance - though I know that is impossible.

It turns out that my ex-landlord had succeeded in cashing the check that he said he lost, and which I PAYED BoA to cancel.

I am informed by every conceivable BoA employee that I am able to get ahold of (in person and via phone) that there is NOTHING they can do about it - the exact phase of choice was "you unfortunately have no recourse."

Apparently, a "stop payment" on a check is only good for 6 months, which they never bothered to tell me, nor did they inform me in any way at the time that my stop payment became invalid (in case I wanted to "renew" my stop payment, which they no doubt would have additionally charged me for).

This might make general sense, because after 6 months a check is considered "stale dated" and supposedly CAN NOT BE CASHED.

As you can imagine, my question then became: "if it was an expired check, WHY did you pay it??"

They informed me that my landlord had presented and succeeded in cashing the check at a "reputable financial institution" which then obligated them to pay it, even though they acknowledged that I put a stop payment on it and even though it was more than TWICE as old as a check's supposed expiry age.

This situation is totally alarming and entirely unacceptable: crook says he looses check, holds check until stop payment expires, cashes check that is OVER ONE YEAR OLD, and the bank that I payed to prevent this crook from stealing my money tells me they have no responsibility and that there is nothing they can do to help me. What sort of check (pun unfortunate) is in place to prevent any crook from pulling the exact same scam?

Now, obviously, my landlord is the high thief in this scenario, but the very LEAST my bank can do is stick up for me and apologize for their error (read on).

It has now been over two months since the incident, and I have still been totally unable to reach anyone from BoA who will help me or acknowledge fault.

The final insult is that my roommate at the time (who obviously had the exact same dilemma on her hands) banks with Chase bank (BoA's direct competitor in NYC) and get this:

**Within 24 hours of her complaint to Chase, the money was credited to her account and she received an official apology from Chase for paying the stale check**

I continue to publicize this incident so that others will not fall prey to this totally unacceptible policy on Stop Payments and BoA's utter refusal to admit fault even in light of their competitor's willingness to do so.

As soon as I get my money back I am never dealing with BoA again, and will of course advise any and everyone in my life to do the same.
     
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Posted by cycolbur on 2005-06-09:
check with federal banking regulations on this one and attorney general. if all fails take your exlandlord to small claims court.
Posted by KenPC on 2005-06-09:
OK... here's the scoop on this one. All banking transactions are subject to the Uniform Commercial Code (UCC). Both parts of your problem fall under this.

First, under UCC, Stop Payments are only valid for six months unless you specifically renew them. This isn't unique to your bank, it's the law, and is printed on the paper notice you received when you first placed the Stop.

A check becomes 'stale' after six months. This means that the bank may decline to pay it, but is not required to decline it. If the check had been presented to a teller for cashing, it likely would have been rejected. But... if it came in through a Federal Reserve clearing, it is extremely unlikely that any human eyes ever looked at the item, much less checked the date. The UCC reads:

"A bank is under no obligation to a customer having a checking account to pay a check, other than a certified check, which is presented more than six months after its date, but it may charge its customer's account for a payment made thereafter in good faith. "

Your beef is clearly against the landlord. What you should do is send him a registered letter (return receipt requested) requesting a refund of overpayment. If he does not respond in a timely manner, take him to Small Claims court and file a 93A action against him for fraudulent business practices. If you prevail in a 93A, you may be awarded triple damages.

Good luck.

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Customer Service Reps
Posted by Bank Of America Rep on 01/23/2005
I work in a Bank of America call center. If you are calling to get a service charge or overdraft fee back please keep a couple things in mind. We have horrible jobs. This is not at all your problem but nevertheless it’s bad. Everything you do is measured (Time you are on each call, times you transferred to your supervisor, how many refunds you gave, time you spent on your last bathroom break, etc...) Not to mention the pressure of knowing that 3 out of five calls you take are being critiqued by the hirer ups. We have no job security, are chained to a desk all day by a head set, and get treated like crap call after call. It is the job we choose to come into everyday, so again this is not your problem. When someone calls in about a refund we need to here something like "Hi, this is... and I've got a problem, I made a mistake in my checking account and I would appreciate some help getting this corrected..." Not "Your bank is so ridiculous I am going to close my account if you don't credit back these overdraft fees" or "Look I know you probably don't have much authority but so I'll probably need to talk to your supervisor" or "You are going to credit these fees back now!" Truth is we are much more responsive to the people who are as kind and respectful as we are. When did the rumors start that yelling and belittling someone was the way to get what you want? I had one customer over Christmas whose girlfriend was an associate of ours and they held a checking account together that had been hit with several overdraft fees. We can't handle any associates account they go to "associate banking department" I told him that I would have to transfer him because we cannot access associates accounts. He told me he hoped my Christmas was horrible and that anything bad that could happen he wished it on me. Then screamed so loudly heart jumped, "F*ck you!" This is not the way to treat anybody. Being a customer or having a lot of money doesn't excuse you from being a decent person. Bank of America is very focused on their customers a complaint or a bad survey may actually get someone fired. I have seen it happen when a CSR got tapped on the shoulder in the middle of the day and was told to log off and leave a single mother of 3 fired because of an email sent in to the company. Maybe she deserved it but who knows, maybe the customer was just having a bad day. Bank of America is a wonderful company and if you are cool headed you can squeeze just about anything out of us. We truly do like to help or we never would have come in to work that day.
     
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Posted by Outsider on 2005-01-23:
Thanks for posting this, I can't imagine how hard your job can be. When I call with a problem I always try to be polite with the service rep, I very rarely have a problem getting things taken care of. I agree completly with you, be nice, it makes things easier for everyone.
Posted by speedy06 on 2005-01-23:
Well said Outsider! But another idea to keep in mind, not sure what your education level is, but educational opportunities are abundant. Georgia has the wonderful Hope grant which pays for tuition, not sure what your state offers. There are also government grants,scholarships, and low interest student loans are among a few. Please do not spend years at a job that you truly do not enjoy. Time flies!
Posted by indygirl08 on 2005-01-26:
I was very understanding of your review, due to I have been employed in call centers also, and know the frustrations. But..you pushed it too far when you included the part of your customers having alot of money. Not true!!!! Then...you pushed it when you said you like your job and want to go to it...come on...give me a break. So you need to understand that accidents happen and some people do not mean to overdraft their accts. and some reps have a snotty attitude.
Posted by Bank Of America Rep on 2005-02-16:
I'm in school now and Bank of America is paying every penny (another reason I think it's a great company). So, no I don't plan to work there forever or anything. But another thing I wanted to mention is that not all of our customers have a lot of money, that's not what I meant, just that, just because you do doesn't mean you have the right to call in with your guns drawn.
Posted by dmdy55 on 2005-04-01:
Although I can understand that customers may be too harsh sometimes, that's not always the case. I have numerous accounts with BoA and have had accounts at this location for twenty years. I pay BoA in excess of $12k per year in interest on loans and have never defaulted on any loan with anyone. I recieved a recored message from BoA last evening informing me that they didn't have current information about my homeowner's insurance which they needed to maintain in their mortgage files. That made sense to me. I armed myself with all the necessary information and called the number I was told to call only to be met with the rudest person I've encountered in ages. From the start this guy was accusatory, implying that I wasn't maintaining my insurance as required and when I explained that there had been no interruption in my coverage for 13 years, he began to lecture me about how I was responsible for providing the bank with my current information. I tried to say that this was the first that I'd heard that my insurance information wasn't being provided by my insurance company and before I could finish my thought, he rudely interrupted me and nailed me on "my responsibilities" again. At that point I'd had enough and told him that I had been pleasant from the start of the conversation and it was time for him to change his tone and attitude with me. He informed me that if I had nothing else to say the conversation was over. I took a deep breath and decided the fastest way out of this was through it and politely said that I had the information about my insurance to which he spat, "The bank does not accept insurance information from the customer." He rattled off a fax number too fast for me to get and I had to have him repeat it 3 times. After the third time he terminated the call. I found out today that my agent sends proof of insurance to the same address that was provided me when we took out the mortgage 13 years ago, but I also found out that the address that the proof of insurance needs to be sent to is different now. None of us ever got a change of address from BoA, something they would have had a fit over if a customer did the same. I've been with BoA for a long, long time. I've had other problems with bad customer service there and it seems to be getting worse as time goes on. This is not an isolated incident, yet I continue to make all my payments and provide BoA with a steady source of income, albeit not the largest source they receive, but what represents a sizeble chunk of our annual incoome. Customer service at the branch we deal at has gotten steadily worse over the last few years also and culminated in an incident today, unrelated to the above, that will result in the termination of our relationship. I personnally have had enough of BoA's "new" attitude.
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Beware Due Dates on weekend/holidays
Posted by Egl8 on 10/24/2007
PENNSYLVANIA -- I signed up for a US Airways Visa card last year, which is administered by Bank of America. I signed up for on-line bill pay, and always payed my balance in full on time. This month, my statement shows my due date as OCT 7, a Sunday. I go online on Friday evening, OCT 5, to pay the bill, and the bill-pay software shows that the next available day to electronically pay the bill is OCT 9, a Tuesday. (Monday is a BOA holiday, so Tuesday is the next business day). No problem, I think, since the other credit cards I've had always allowed me to make an on-time payment on the next business day if the due date falls on a weekend or holiday. Not Bank of America. I received my statement yesterday, and they charged me a $39 late fee for my OCT 9 payment (in full). Calling customer service was no help, as they said their payment policy is on the web site. But it never warns you that you will be charged a late fee if the payment date is on a holiday or weekend. Why even assign a due date on a weekend or holiday if they won't let you pay it on that date? Could it be because they know it will trip up a certain amount of people that they can collect $39 from? They offered to cut the charge in half, and I countered with "how about you cancel my card."

So goodbye Bank of America Visa card. It's one less card I can do without. P.S. If you haven't seen it, there is a good documentary about the credit card industry called "Maxed Out". I highly recommend you watch it. After viewing, you'll probably only want to keep at most one credit card, and that only for emergencies.
     
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Posted by Anonymous on 2007-10-24:
Why did you wait until the last minute to pay your bill ?
Your advice at the end is excellent.
I voted 'Very Helpful'.
Thanks for the info.
Good luck.
<;O)
Posted by Anonymous on 2007-10-24:
Very purposefully deceitful. My goodness banks have no problem posting a weekend charge resulting in a NSF. I for one would like to know why are regulatory agencies let banks institute policy that is designed to ripoff the customer. I'd also like to know why they flushed the anti-trust laws down the commode resulting in these ever snowballing mega-banks. The rules/policies are very unfair to the consumer while our choices are becoming increasingly limited.
Posted by Anonymous on 2007-10-24:
I agree with Stew 100% and would also like to know why the regulatory agencies let them get away with collecting over 17 billion in these unreal fees last year alone. That kind of makes it obvious as to what is going on and yet it still go on.
Posted by Anonymous on 2007-10-24:
Stew, check this one out: http://www.federalreserve.gov/newsevents/press/bcreg/2007bcreg.htm

Maybe this is why they don't care?
Posted by Anonymous on 2007-10-24:
AlleyS, but what if your broke at the time?
Posted by egl8 on 2007-10-24:
Too Good To Be True: Why did I wait to the last minute? I tried two days before the actual due date to pay. Also, if the credit card companies can charge 20-30% interest to consumers, then I'm going to get my interest-free loan (I always pay my credit card bill in full each month )to last as long as I can. That's why credit card companies hate people who pay their balance in full each month. They have to find other ways to get money from these folks, like bogus late fees.
Posted by steve101 on 2007-10-24:
Many types of businesses besides banks have paydates that fall on a weekend or a holiday because each billing cycle goes by the number of days in that cycle no matter what the date falls on. It is your responsibility to know that payments are not processed on weekends or holidays and that payments made after banking hours will not be processed until the next business day. If you had paid your bill earlier in the day or the day before you would not have incurred a late fee.
Now what if your rent is due on the first and that falls on Sun. Guess what. In many cases you will be charged a late fee if you pay on Monday. Happened to me when I was a renter.
Posted by SeniorAccntSup on 2007-10-24:
I agree with Steve101.. I dont work for this company but I know with the large credit card company I work for if you are late....YOU ARE LATE! the computer puts the late fee on there when the payment hasnt posted by the date that is stated! Also make sure you read the back of your statements. there is always informitive info on there. I understand some things do happen but if you got a late fee because you didnt pay it on time it isnt the companies fault it is your responsibility to pay it on time. To make sure it is posted to your account by the due date. Also if you have a apr over 27% that is a default rate which is if you go past due 2 times within a 12 month period then you will get that apr. Make sure you read the org. terms and conditions! good luck
Posted by Anonymous on 2007-10-24:
egl8: You are the one that was late in scheduling. Your payment was due Sunday,October 07. You went online Friday night, October 05 after 5:00 P.M. and expect the bank to credit your account right then and there !!! What are you thinking ? Fridays after 5:00 P.M. is considered a Monday banking day. Your payment would not be credited until Monday processing. Because of the holiday, the payments are processed Tuesday.
The reality is, you DID NOT TRY 2 DAYS BEFORE the payment due date to make your payment, you tried to make your payment Friday night on a holiday weekend.
Good grief.
<;O)
Posted by egl8 on 2007-10-24:
OK SeniorAccntSup, since Credit Card companies are encouraging card holders to pay online (to keep their costs down) how hard would it be to have their computers generate a "warning" that you will occur a late fee if you try to choose a payment date from their calendar that doesn't agree with their terms. Shouldn't be too hard these days with all the computer knowledge available. And yes, those higher rates (>25%) are for folks who have late payments. But I know many cards now have regular rates of 18-20%, when the average bank is paying around 5% interest on your deposits. Tell me that isn't excessive.
Posted by Anonymous on 2007-10-24:
JayD, AGAIN YOU ARE OUT OF LINE, STOP BEING AN A HOLE!!
Posted by Ponie on 2007-10-24:
'No problem, I think, since the other credit cards I've had always allowed me to make an on-time payment on the next business day if the due date falls on a weekend or holiday.'

BULL!! If anyone believes that--I have 600 acres of swamp land in Arizona I could sell them.
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Bank of America lied
Posted by Tarter1974 on 06/27/2006
BOSTON, MASSACHUSETTS -- Bank of America- they lie

Please be aware! I have been a long time customer of Bank of America.

I cancelled my car insurance with aaa insurance in florida last month, the proceeded to automatically withdraw funds from my checking account (without my authorization) for the insurance policy that I cancelled last month, this was the insurance companies mistake. I was unaware of this unauthorized withdrawal, and continued to use my debit card for small purchases as I normally would.

I checked my account one day and realized that I was more than $200 overdrawn in my account. This was due to 5 $35 over draft fees that I incurred due to the unauthorized insurance company withdrawal (which caused my to go negative) and subsequent usage of my debit card for small purchases.

When I went to the branch manager, and explained the story about the insurance companies mistake (which they promised to reverse in a matter of a few business days) she told me that she could not take back those 5 $35 overdraft fees that incurred due to the insurance company's mistake. What? If the insurance company never took the money out (as they never should have) none of this would have happened. The branch manager wouldn't help me.

I called the 800 number and explained the story, and I put in a "formal" dispute on the original unauthorized withdrawal that the insurance company made against my account that started this whole mess. The claims dept. At the bank told me that as soon as the insurance company reversed the charges, they would refund the 5 $35 over draft fees for me, something that the branch manager refused to do.

When I checked my account the next day, I noticed that the insurance company had indeed reversed the initial unauthorized withdrawal, and guess what? There was another $35 overdraft fee tacked on to my account from the bank! They had not reversed the fees either. I had to go through the story again with the third person. This time the bank employee told me that yes, they would reverse all of the $35 charges (6 as of today) but it was going to take 2 business days for this to happen. The bank employee that I talked to yesterday did not tell me this.

So, all of this has taken about 3 1/2 hours of telephone time over the past two days, back and forth. Before this happened I had money in my account for the weekend, but because of the insurance company's foul up, I am negative in my account (which reflects badly) and will not have any money until tuesday, thanks to the bank.

When this is all cleared up, I am going into the branch manager who initial would not help me and I am closing my account.

This is also a wake-up call for me and anyone out there who has automated bill pay. I cancelled way ahead of time, and they still mistakenly withdrew a huge chunk of money from my account, I actually ran my tail off before all of this happened in order to cancel the insurance before the next cycle, and they still messed me up!

PS. Employees in the claim dept. At Bank of America told me that once the insurance company refunded the charges, they would refund the now 6 $35 overdraft fees. I was told by 3 different claims rep's that this would happen in 2 business days. The insurance company did refund the charge electronically. When the day came I called the bank, and was informed that no, I would not be refunded the overdraft fees until I filed a claim for the initial unauthorized insurance company bank withdrawal was processed by Bank of America. (10 Business days from when I receive it and mail the claim back)...so I was lied to and mislead by Bank of America employees. They flat out lied!

     
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Posted by CrazyRedHead on 2006-06-27:
I don't see where this is any of the banks fault. You did understand that the insurance company started the trouble, but it is your fault for not checking your bank account in the first place. When you have trouble like this with someone and auto pay you should always check your bank account.
Posted by spiderman2 on 2006-06-27:
I completely agree with crazyredhead. This is not the bank's fault. You overdrafted and they charged you. The insurance company should reimburse you for your fees. A lesson to be learned here is if you cancel an automatic debit, you should make sure it is truly cancelled before you spend the money.This is one huge reason why I will never give anyone access to my checking account.
Posted by Anonymous on 2006-06-27:
Find a credit union. Do your homework. Here's a good starting point http://clarkhoward.com/shownotes/category/7/18/211
Posted by Anonymous on 2006-06-27:
You said, "they proceeded to automatically withdraw funds from my checking account (without my authorization) for the insurance policy that i cancelled". This is the first point you're making. Guess what Those So-N-So's at AAA are taking money out of my account without my permission. What the F^CK gives them the right to do that? I called them and told them "DO NOT DO IT EVER AGAIN! YOU DO NOT HAVE MY PERMISSION!" I Just checked my statement today as I read your your complaint and those insidious B^st^rds are still at it. Tarter1974 neither one of us asked for automatic Debit.
Posted by miketech on 2006-06-28:
I read some article somewhere that was scary. It said basically though it maybe bad form it's not illegal for a company to debit your account without reason then it is your responsibility to catch the error and inform them. Scared me to death.
Posted by Doc J on 2006-06-28:
Yes, auto-debit is "convenient". It works so well. The only one you should allow into your checking account is you.
Posted by Doc J on 2006-06-28:
Jay-You are 100% correct about how credit unions have similar problems. Thanks for pointing that out.
Posted by kubado on 2006-09-06:
To all you who's on the banks side, it's clear from youre response that BofA doesnt have a customer service. Let's say it's someone elses fault like this story its clear that it was the mistake of the insurance, but from taters story I cant find that the bank have compassion with their client and doesnt even offer service or help to him. I tell you what BofA is a Dinosaur they want your money they want to eat you alive..... Instead of helping their customer even if the mistake is clearly not their own customers fault they will try to find something that they can charge you because of other parties fault. They will try to look of any penalties that they can charge their customer like adding insult to injury....... Where is the LOVE???
Bank of America Sucks!!!!!
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