ST. LOUIS, MISSOURI -- Online chat session:
Jill: Hello! Thank you for being a valued Bank of America customer! My name is Jill. May I have your complete name please?
Jill: Hi Marc. How may I assist you with your personal checking and savings account today ?
You: Fee dispute
Jill: I certainly understand your question regarding the fee. I will be more than happy to check that for you.
Jill: May I have the last four digits of your account please? 1
Jill: Thank you.
Jill: If I understand you correctly, you would like to dispute overdraft fee from your account is that right?
You: Well it is an extended balance fee
Jill: As I have checked on your account, I see that you got overdraft fee for a transaction amount if $620 which is an online banking transfer to your account xxxx when he only balance on your account was $585.30.
Jill: For each time we determine your account is overdrawn by any amount and continues to be overdrawn for five or more consecutive business days, we will charge an Extended Overdrawn Balance Charge of $35.
You: I understand this
Jill: Yes thank you for understanding the process, however, as I see here that there was a previous refund last 2/21/12, we are unable to process any further refund. I apologize however, the fee was assessed correctly on your account.
You: You're fee made the account negative. Then you charged a fee on the fee. That is deceptive business and gouging. I wanted to have this conversation before I pursue further action.
Jill: Once you overdrawn your account pay the fee prior to its 5th business day to avoid getting extended overdraft fee on your account.
You: The account was overdrawn because of a fee. You can't then charge a fee on the fee. That's preposterous.
Jill: Marc, you were assessed overdraft fee of $35 for your transfer made $620 to you other checking account, and, that overdraft fee remained on your account for 5th business day due to which you got charged extended overdraft fee for that overdraft fee assessed on the transfer made.
Jill: If you overdraw your account, repay the total amount you are overdrawn as quickly as possible and prior to the fifth business day you are overdrawn to avoid this fee in the future.
You: And you did not refund this fee. You refunded another fee that was erroneous to begin with, which is why you refunded it. Then you charged another fee to get your refund back.
You: That transfer was made when there was money in the account to cover the transfer. Otherwise I wouldn't have transferred that amount.
You: You then stuck the fee in there as if it had occurred before the transfer. Making the transfer for more than what was "available".
Jill: Let me explain the transaction on your account.
You: Then you refunded that fee, because of the ridiculousness of it. Then followed the fee with another on the same lateness. Of course I didn't have the money to put in there. Otherwise I wouldn't have been charged the fee to begin with.
You: I just explained it to you, what is the point of you explaining it again?
Jill: I will explain why the fee was assessed.
Jill: Last 2/8/12, the balance on your account was only $0.40
Jill: Last 2/16 there was a transaction for Educational Comp for amount of $182.65
Jill: Due to which your balance went -$182.64 correct?
You: Then my check went in
You: before the fee that you are about to say went in there
Jill: You made deposit of $802.91 last 2/17/12 which your balance went to positive $620.30 right?
You: Then I transferred, then the fee
You: Then a second fee for the transfer
You: Then this fee for the extended balance fee
Jill: yes, I would like to inform you that your transaction for $182.65 was an ACH, and all ACH transaction posted on account when there is insufficient funds will incur overdraft fee.
Jill: Then, the balance went below $585.30 before you made the transfer of $620.
You: No it was not
You: It was 620
Jill: That fee was refunded 2/21/12 for your ACH transaction.
You: Otherwise I would have only transferred 585
Jill: Then, you have been charged again overdraft fee for your transfer made $620
Jill: During nightly processing, we process all credits before we present any debits to the account. All debits are then processed from the highest dollar amount to the lowest dollar amount, according to the transaction type, even if they create a negative balance.
You: You do that so that you can get more fees. That is why you process them first.
Jill: I understand why you feel that way. Based on our experience, we believe that many customers prefer that we place priority on their largest transactions when the balance in their account cannot cover all their transactions. This may enable us to pay more important items, such as mortgage or car payments.
You: That has been proved in court to be an unfair business practice.
You: You need to stop using this policy. Or if it is making enough money to keep doing, refund the customers who call you on it.
Jill: I am really sorry if you are frustrated about the fees assessed on your account.
You: Look at the history, your institution has charged me thousands over the years. You might as well refund me so that you can continue to collect, rather than reject my request, and force me to get a different bank to get all that additional revenue.
You: Its just a smart business move.
Jill: Yes Marc, you have been charged overdraft fees on your account several times and we have refunded fees on your account as courtesy. I please suggest you to monitor your account balance to avoid getting overdraft fees in future. I know that paying fees is frustrating however, those fees was assessed correctly and the agreement on fees was included on your personal disclosure when you opened the account.
Jill: If there is anything that I may assist you with please let me know.
You: Refund of erroneous fee.
Jill: I understand however, I am really sorry that fees cannot be refunded and it was assessed correctly.
You: Unfair business practices. I hope you hurry up and settle on this lawsuit. This conversation will be put online and this practice of the extended overdrawn balance fee will also be deemed unfair business practice. I embarrassed that you are allowed to be called bank of America. It should be Bank of Thieves.
You: Does it say in my account documents that you can charge a fee since I am unable to pay on a previous fee?
You: And the fifteen dollars you charge monthly? Is that another fee?
Jill: Marc, again, we sincerely apologize. The fee disclosure agreement was provided and you were informed about those when you opened the account, and the monthly maintenance fee of $12 was also included.
You: No, when I opened the account, there was no monthly fee. And the overdraft fee was $15. And there was no extended overdrawn fee. This was all added later.
Jill: I can send you the Personal Schedule of Fees so that you can have check all fees associated on your account.
You: Yes, please do.
Jill: Please click here.
You: Will it say that if you are unable to pay on one of our fees, we will give you another one?
Last text message received Jill: Yes that is included.
You: Highly unlikely.
My husband and I are retired military. My husband is disabled due to a brain injury in Iraq. This is an account of how Bank of America uses the making home affordable program as a scam to get your home. It started when my husband had retired, his disability income had not come in yet and we were having difficulty making our monthly mortgage payments. Though we were not behind, we talked to representatives at B of A and they suggested we apply for the making home affordable plan.
For the next few months we faxed, FedEx'd, and phoned our information that they requested over 10 times. Also during that time, they said I could no longer make my payments over the computer and that I would have to either mail in or phone in my payments. So each month, I would call in, ask what I needed to pay, and they would give me a figure which I would then give them my debit card info. For a few months, they advised me that I needed to make trial payments which were $200 less than my regular mortgage payment.
After a few months, they started to inform me that I was behind. So I began to call every 2 weeks as they instructed to get a status and was told that I was behind due to them putting the partial payment into a holding account. However, when they started telling me that I was behind, I started making my regular loan payment amount plus extra to make up the past due amount. Then we got a call saying that we were in foreclosure and that they could sell our home as early as the next morning. Scared, I made some phone calls and got hooked up with Novadebt.
After speaking with them and having the representative from B of A on a 3 way call… we got the run around some more, they kept telling us conflicting information, but then assured me that I was not in foreclosure and that if I continued to make my regular monthly payments plus extra to chip away at the past due, I would not go into foreclosure. Well, that was last month. As of 1/25/11, I was informed that my home had gone into foreclosure and they would not accept anything from me other than the total amount past due plus lawyer fee's and that they would have to order those figures and will fax them to me in 3 business days.
So basically, after working with B of A for 1 year, calling each month, doing as they instructed, and never getting the same information twice, I am now in foreclosure and have to come up with a large sum of money next week to keep my home. This is very disturbing to me that they would treat one of our nation's disabled vets is such a dishonest manner. Keep in mind that we never missed a single months payment and only did what they instructed us to do and now they are trying to take a home away from a retired vet with a brain injury.
B of A has left a really bad taste in my mouth and the fact that they are using the making home affordable plan as a front to steal from honest Americans and take their homes from them is extremely foul on so many levels. Please, email me with your comments, I would love to discuss this with someone.
My home, my entire lifetime of working a minimum of an 80 hour work weeks, taking our first vacation only 7 years back going to NYC after 911,and for the last 35 years, is in ruins. The catalyst was Bank of America. Heck, my 20 plus year Premier checking account that I have closed 4 times now, is still open accumulating fees as we speak! I was considered one their "most valuable customers". My mother worked banking her whole life. I was brought up to believe the people within those vaulted walls were the most honorable and integrable people, and could always be trusted!
From the "I am so sorry, though you have never been late" letters to raise interest rates from 3 and 5 percent to 30 percent, to transferring payments on my home back into my checking which had us fearing to deposit monies to pay our bills through them, especially those they had with us that were mysteriously were not canceled on my overdrafted protected account via auto pays, when they attacked us because of their unwise executive decisions, has left me hopeless and in ruins! I feel like such a failure, a loser, and without any faith in our nation's banking industry.
I worried about my credit rating! To me it was vital to survive and not to be messed with. I was also so proud of the numbers, jointly and individually as a woman, that we scored. How ironic, I was someone who 'paid it forward' so to speak, from getting an Iraqi war vet's mom a home and many other single parent families, that I will soon be homeless myself! At my age, with the economy as it is, and having only my hard work ethics to offer, finding employment to rebuild, is near impossible.
I paid my bills always on time and never the minimum that is required. Between Bank of America, Discover and Chase (I won't share what the insurance companies contributed, we have discovered there is a loophole for all the extra protection's sold to us in order to prepare for the shaky economy to keep us viable), I have no more faith. Loan sharks are more honorable. Definitely less costly!
I would like to share my experiences with them to a lawyer or Congressmen who will look at my documentation of events that had led us to bankruptcy and giving up our family home! I never asked anyone in my life for a handout, accept personal responsibility for my actions but was no match against Bank of America's pirates. Besides letters written and received, emails and online records (scanned before I was denied access to my own accounts online btw), phone calls and a years work of documentation, I would like them to get what they deserve.
Whether it helps my family, doesn't seem as important anymore. But the rage, the anger, the bitterness and how it has affected me personally, I need closure. A closure that cannot be done until the despicable, UnAmerican, TREASONOUS actions of Bank of America is investigated!
I cannot believe that this could happen in our country! From the phone calls from India on Christmas Eve when only 10 days late, a first and the result of the games they played on us previous robbing us of months of income for service charges, all the while going through chemo, which was what I think when I told them in preparation to insure timely payments via auto debits. It's like they red flagged me after that!
Imagine with all the offices they have, and if 1 percent of their customers who cared about their credit scores, if held hostage because the thinking they will pay to protect those scores and were treated this way, the kind of money Bank of America made!
Sure, I admit, times were lean and extra funds were almost bare. But, we lived "lean and mean" and were more than willing to eat cereal for supper before not paying our bills. We would do without phones, cable, whatever, before not paying our bills. Not even, 4 years back, when my husband endured lung cancer, we left the hospital debt free but then they were not told! It does make me wonder if being so truthful and honest, led to our downfall. We even sold all we could, canceled my health insurance in order to keep our credit stable! Nothing was ever enough!
Every penny was robbed on an account with overdraft protection. The first banking error, when addressed at the local branch instead of the faceless customer service, gave us back half and assured us that all auto payments, 100% monthly bills paid on 1st to insure they got paid, was to be stopped. Another lie. Even after we left them, they re opened the checking account.
I hope there is karma for those so called "geniuses" rewarded so well and they get what they deserve. They destroyed this country and someday my grand kids will read about this rape on middle class America by the bank that shares our nation's name in school and in the history books. That is if this country isn't ruined by such deceit! It hard to realize, your entire life was for nothing! That you feel like such a loser! It hard to believe that the only thing I ever wished for, that my grand kids be secure, is gone. I do not wish this on anyone. Can anyone help advise us on who is brave enough to take them on?
CALIFORNIA -- I want to Thank You in advance for reading my long and detailed email. After being a customer of Bank of America since 2002, I closed my Account's today. This was a very hard decision to make as I believe long term relationships between establishments and their Customers are very important. I closed my accounts after I received inexcusable treatment from two different employees at your Newbury Park Branch located at 2345 Borchard Rd. Newbury Park, CA 91320. Being a former BofA employee myself, I am very aware of the standards and expectations BofA has of their employees in regards to customer service.
I went into the branch yesterday, June 31, 2009, to make a deposit. I was gestured to come over when it was my turn by your Teller. As I approached the counter, he took my deposit without so much as a word or any eye contact. I then asked him if he was having a bad day, which he then mumbled "No". I then said "it just seemed strange because everyone is usually so friendly at BofA and I receive such excellent customer service." He then looks and me and says "Huh?". I repeated myself. He shrugs his shoulders as if I'm joking and mumbles, "I don't care" with a smirk on his face. At this point I am completely dumbfounded. I took my receipt and left.
When I came home, I explained what had happened and found out that two members of my family had received very similar treatment from the same teller and knew him on a first name basis as they had already made complaints to your Manager about him. Confused as to why he was still giving such poor customer service after receiving complaints about him, I called the bank and spoke with the manager. After explaining what had happened, she simply said she would speak to him and asked if I needed anything else. I told her no and that I would be in tomorrow to close my accounts. To my surprise, she said casually, said "Okay" and hung up.
Today, I came into the branch and waited to speak with the manager. After she called me over, without making any eye contact, I sat down and she took my ATM card, still the same treatment (not a word and no eye contact). When she was ready she looked up and asked "what are we doing today?" I told her I was there to close my account. She then tells me I can do that with a Teller and to give her a minute to get the codes. After a moment, I told her how disappointed I was that I had to close my accounts and could not believe that she didn't offer an apology or show any concern to keep me as a Customer.
She then throws her hands up in the air saying "You were the lady that called last night. I spoke to him, there are two sides to every story. He claims nothing you said happened and I have nothing more I can do for you". I then told her as she could see by reviewing my account's at one time I had over six figures with BofA and unfortunately, due to hard times that is no longer the case, but if it was I'm sure we would be having a completely different conversation. Her response: "Possibly". WOW!
I highly doubt that Bank of America is doing so exceptionally well during these hard economic times that you can afford an employee who has no regard for giving good Customer Service, not to mention retaining loyal Customers. I will be forwarding this letter to Customer Solutions, all of my former BofA Colleagues, also Cal BofA branches, and everyone in my Address Book.
Don't trust your online banking. A bank officer even admitted that you can't trust it and that it is not as accurate to the consumer as it is to the bank… then why have it? We are a middle income family that uses our debit card for everything… first mistake. Charges are held for days, sometimes up to a week. Bank of America got us this week for nine $35 fees. They put through the largest item first to the smallest so they could hit us for all nine. I was charged $35 for a slurpee at 7-11 and $35 for a McDonald's hamburger. Our online banking did not show the pending items, only 2 that would put us in the red.
We went to the Bank and made a cash deposit to cover our pending 2 items, plus additional funds, yet we were hit that night for 9 items. Today, we went in and showed the banker our print out of what was actually pending according to their bank on line, but he responded by telling us the other 7 pending items could be accessed by yet another link, that is not on the main page that shows your current register. Our loyalty or our explanations didn't matter and we were at the banks mercy, there was nothing we could say or do to reverse any of those fees.
Most of the items that we got hit on were many days old, being held back until there were nine total they could get us for. Part of this is our fault for sure for not keeping track of every slurpee or hamburger bought, but BofA knows our patterns, and they have us by our check books. They hold back your charges until you overdraw yourself because you think you have a balance according to their bank by phone or online banking. They told me depending on the charge, it sometimes takes days for the paperwork to come through. Yeah right, they know every transaction you make and the minute you make it.
They have no mercy, nor do they care if your power is being turned off or you can't buy groceries. Six months ago, the maximum they could hit you for was 6 items, but the manager told us today they just raised it to 9, so watch out. America is in the worst shape it has ever been in, and more than 50% of American's live paycheck to paycheck.
We need to put an end to the banks stealing our hard earned money. They have many tricks up their sleeves that rip off their loyal customers (25 years loyal) because they can get away with it. They are sitting fat right now while our country is hurting and we need to put our foot down. We should all close our accounts on the same day and give our business to someone else like a good old fashioned credit union. We need to somehow send a BIG message to Bank of America!
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 1700 apx 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.
On October 31, 2008 I contacted FIA card services for Bank of America in order to pay the remaining balance of my overdue credit card account. As specified by the customer service representative **, my remaining balance on that date was 718.49. I informed ** that I would not be able to pay that balance and asked him if there were any alternatives. ** informed me that I could arrange a settlement agreement for 560.00 but that it would have an adverse effect on my credit report.
I then asked ** if he could credit the latest months over limit fee and late charge because I would then be able to pay that amount. ** informed me that this would be acceptable and proceeded to credit the latest month over limit charge and late payment charge and process a phone payment of 655.00 to pay off the remaining balance. Upon receipt of payment I informed ** that I wished the account to be closed and was told by ** that the account was now paid in full and closed.
As of early December I received a statement that says I have a remaining balance of 65.16. The statement shows that the previous balance on the account was 718.49. It also shows that there was a payment of 655.00, a late charge credit, an over limit fee adjustment all being applied on 10/31/2008 bringing the total amount applied to the account on 10/31/2008 to 725.00. However, it also shows Bank of America decided that they would reverse the late charge adjustment on 11/21/2008, 3 days before the end of the billing cycle.
They also proceeded to charge me interest on the reversed credits after my account was supposed to reconciled and closed. Shortly after receiving the statement I also received a letter stating that I agreed to a settlement of 560.00 for this account and that it was being reported to the credit bureaus. This is completely false as I agreed to no settlement and paid my balance in full as of 10/31/2008 as noted on my statement. I then contacted Bank of America on 12/11/2008 and spoke a customer service representative informing them of the mistake that was made with my account.
The customer service representative then informed me that the individual that accepted my payment ** went back into my account and reversed the adjustments on 11/21/2008. I informed the customer service representative that this was unacceptable and that I would like to speak to a manager. I was then placed on hold for 54 minutes at which time I decided to call back. I then spoke to a customer service representative named ** and explained the same situation to her. ** informed me that I had agreed to a settlement of the account in the amount of 560.00.
I once again informed ** that I did not agree to any settlement and that I had paid my balance in full as of 10/31/2008. ** proceeded to place me on hold again and transferred me to a Mrs.** (she would not provide a last name) of the Norfolk division. After Mrs. ** reviewed the account she apologized for the mistake and informed me that she would be sending an email to the loan department to rectify the mistake and that I should call back in 2 days. I then contacted Bank of America on 12/15/2008 and spoke to customer service representative **. ** informed me that I had a remaining balance of 65.16.
I once again explained the same details and was informed by ** that the reason the overdraft limit fee and late charge was reapplied was because that when I paid off the account there was a remaining balance of 1.67 as the finance charge. I then informed her that on 10/31/2008 I overpaid the account in the amount of 6.51 and that that amount would be enough to cover this finance charge. ** then requested a contact number so that she could have an account manager contact me regarding my account. I am still awaiting that call.
Word to the wise. NEVER PAY ANY AMOUNT TO CLEAR A BALANCE FOR A CREDIT CARD OVER THE PHONE WHEN ACCOUNT IS IN DEFAULT. Request in writing of what you wish to do. Get it notarized and send back copy of notarized letter along with payment.
LANCASTER, CALIFORNIA -- After being a loyal customer with Bank of America through good times and bad for DECADES, I have finally decided that I no longer will tolerate being treated like a criminal. I brought in a $5500 commission check from my employer (a long respected local major Real Estate firm) to the local BofA branch I always use on Wednesday 7/16/08 and attempted to deposit it into my account. I requested that it be posted immediately as I had a business trip scheduled for the next day. I was told no, they had to hold the check.
I very politely requested access to $1000 as needed about that much for my trip. I was told that a two-day hold was required and was referred to "supervisors" who turned out to be the greeters at the front of the bank. After telling my story, one of the greeters took my check and said he would ask the manager.
After a few moments, the greeter came back, looking rather abashed and said it was not possible. I took the check and went to the bank it was drawn on, a local bank a few miles away. That bank took it and cashed it with no problem. The cashier patiently listened to my story. I was so pleased that I immediately opened a savings account. The teller hesitated when she opened the drawer and suggested that I carry a cashier's check back to BofA instead of all that cash since they "wouldn't put a hold on that".
I agreed but then asked for $1000 cash, and the rest made into a cashier's check, just to make sure. I went back to BofA and deposited the check (there was a whole new crew - all very young). After the deposit was made and AS I WAS TURNING AROUND TO WALK OUT, the teller said there would be a two-day hold on the check.
I turned around and very loudly said, "You're putting a two-day hold on a CASHIER'S CHECK???" Everyone in the bank heard me, and one older woman in line made a wry comment how our money isn't ours anymore. I ranted (no swearing!) about how my husband and I had been BofA customers for decades and I just couldn't see the logic in holding a CASHIER'S CHECK drawn on a local bank when in real estate, we regularly transfer hundreds of thousands of dollars instantaneously. Why ON EARTH would it take 2 full days to verify the validity of a cashier's check drawn on a local bank that's just a phone call away?
The cashier then rather sheepishly said I had immediate access to $100. I stared at him disbelievingly for a second, stormed out and swore I would close my account and never do business with them again. After coming back from my business trip the next day, I found 3 NSF charges on my account. I called customer service (what a joke of a name) to request that they be removed due to the circumstances. I was told no. I asked to speak with a supervisor, who also said no, I had been informed of the hold, therefore they were not liable and I had to pay the charges.
I was very upset and told her I couldn't understand their logic, especially with a long time customer. She was very snooty with me and told me she did not have to listen to such language - I had to think about what I had said, it was "damn". I was absolutely speechless. Not only was I being treated like a criminal by my own bank, but I was being lectured on using an extremely mild expletive by some kid??? Then I told her that after over 25 years with BofA with service getting worse every year, I was closing my account and hung up. I think I used the word "hell" in that rant. Bad me.
(On a side note, my husband called them about 1/2 hour later and demanded that the charges be removed and THEY REMOVED THE CHARGES. Does this smack of sex discrimination - they refused to do it for me but did it for him - or just that my hubby is more forceful and browbeat them into it? Who knows.)
I have already been burned by the "biggest first" NSF scam a few years ago. Due to a bookkeeping error that I readily admit, five items came through at the same time, but instead of paying them in the order they were received, the largest one was paid first, which left me with FOUR NSF charges, instead of the one I should have had.
I have found with very little research that NationsBank (one of BofA's predecessor organizations) was involved in a class action lawsuit in 1999 that was settled for $9 million dollars, for this very practice. So they paid a chunk of cash to make the suit "go away", but continue to "help" their customers by deciding FOR us which checks/payments should be posted and which should be NSF'd... Wait a minute... Since they were all paid against the account with their "overdraft protection", why would it matter which order the checks were posted EXCEPT to garner all those unnecessary NSF fees and therefore, boost their revenue???
But I digress... After waiting a few days to make sure everything has cleared, I am closing my accounts with BofA forever. My husband and I will be banking with a local company that actually cares about people and the value of loyal customers. I am DONE with Bank of America.
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 overdrafting my account on 3 items. It was my responsibility to pay for my mistakes so that's what I did. Until payday, 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 every day 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 overdrafting. Come morning (5 hours later), my account said I had overdrafted on Thursday for 2 items, the check and 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?
FLORIDA -- I am glad to see another recent post! This has been happening to us off and on over the past 5 years. But this last one less than a month ago is it! We are a small business who relied on the online and payroll services till we were told there is something with a post, a hard post and available. So I do not check the accounts everyday anymore. What good are computers if you can be accurate by paper and pencil! Now that BOA has the new ATMs that takes the checks and reads them and the money is posted to your account if deposited by 8 pm is a line of crock too.
Two weeks ago we deposited a check to find out 6 days later that they had put a hold on it. Deposited it on the 16th, the deposit slip said it would post on 5/16. Here we are depending on the monies to pay our suppliers and vendors. To receive a letter on the 24th stating the funds were being held till 5/28. Crediting our account $100 of the $1,180.00. They did not first attempt to send out the letter till the 19th, then added more postage on the 21st. So in 8 days we are bouncing 20 transactions, then the fees from BOA on top of that which are $35.00 each. And then the suppliers that we paid which had bounced, their fees.
My husband went into the bank and first they told him that there wasn't anything they could do. Gave him the "Post, hard post, and available" motto. That is when I pulled out the deposit slip and it stated right on there that it would post to the account on 5/16. He went to where we opened the account and spoke with the bank manager. She refunded 17 of the 20 bounce fees that had posted to the account. Nevertheless those bounced fees had a roller coaster effect on what we had deposited after that too.
Yesterday I went to sign on to post a payroll check to notice somehow we were in the negative again when my ledger read $882 as the balance. After 3 hours on the phone trying to find out BOA legal department. I get 3 different address to send a letter to. No one person to speak within the legal department. But was supposed to be refunded again $800+ in bounce fees. Only to find out today went I went to pay for supplies that my check card was denied.
I have been since 10 am going through all deposit slips comparing statements and my ledger. There's show checks that have cleared my account but they still returned them. This is about 5 of those. Then they add back in the monies from the bounced checks which throw you off again.
Also, now that 3 of the checks that by BOA says they bounced has been turned over to Certegy. One of those Certegy had done an electronic check to also get their NSF fee. Which we were not notified till we received our paper bank statement... "GO PAPERLESS", better think twice even though you can't know what had gone on day by day to well either. I do recycle other paper by the way, so if someone wants to say I am taking trees for from the world, I need my money too!
Adding to this is where my check card was denied. So I come back to our home office and look up online to see what the balance is... What are we supposed to go by if one balance says $966.81 but up in the left hand corner says -$448.22? And again, my Ledger says $882. What is wrong here? Which is right?! I will probably post again, I need to get all my papers in order because I plan to see an attorney about this bank.