Bank of America - Page 3

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1.2 out of 5, based on 34 ratings and
459 reviews & complaints.

Predatory Over Draft Fees
Posted by on
MIAMI, FLORIDA -- Hi I had been with Bank of America for 11 yrs. I got my parents to open a personal and commercial account with them.

Our whole family was on Bank of America.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Now why would anyone prefer the bank to pay a higher draft but instead pay multiple overdraft fees that exceed the one highest charge. They manipulated my account to steal money. I will make sure they get as much negative publicity about this as possible. They deserve just what they get. I may even picket a branch in the near future.
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Online Banking, Refunds, Deposits, Fees, New ATMs And More
Posted by on
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 top 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 in to 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. Never the less those bounces 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 checkcard 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 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 cause I plan to see an attorney about this bank.
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User Replies:
madconsumer on 06/12/2008:
I have been with bank of America for many years. I have had zero issues with my deposits. I know the online statement is accurate.
Anonymous on 06/13/2008:
Look at it this way. When a check deposit posts, the clock starts ticking. The funds from that deposit are usually not available to draw against until the next business day AFTER it posts to the account. And usually only the first $100 of that deposit. The remainder are available to draw against usually the second or third business day after the deposit posts to the account.
So, if you make a check deposit on Friday morning, you are able to use $100 of that deposit for debit transactions initiated on Monday (any transactions initiated on Friday night or Saturday and Sunday against those funds will be charged an NSF since the funds weren't available at the time even though the transaction won't post until the Monday). The remainder will not be available to use for debits until Tuesday or Wednesday.

Look through you account terms and conditions. There should be a section in there that better explains the banks funds availability policies.
tnchuck100 on 06/13/2008:
You need to drop BofA as soon as possible. They are continuously finding new, innovative ways to take your money. Divorce them now before they bankrupt your business and destroy your relationships with your vendors.

What BofA is doing to you is legal and per their one-sided agreement you said it was OK. Forget a class action lawsuit. You probably have neither the time nor the money to go that route.

Find a local bank. Get to know the people there. Good luck.
Slimjim on 06/13/2008:
I hope when you see you an attorney you plan on discussing remedy for yourself only and don't consider for a second any suggestions about filing on behalf of some class as your handle suggests. You want restitution I'm assuming, not making a group of law firms rich.
Do_ I_ hear_class_action_lawsuit on 06/24/2008:
It seems not everyone has read the whole blog. We found an attorney who is taking the case. If the online statement is right then why does even the statement that our branch manager gaves us show that over 6 checks bounced even after BOA charged us overdrafts there shows a positive balance. Never the less those who so quickly responded must had overlooked the fact that they held cash that was deposited for 10 days. A check for 14 days. Those are only 2 examples. Even before those deposits, we had a positive balance. Some of you need to re read my complaint. I could understand if we were one who played the "hope it doesn't bounce act" but this is a business account and we do not do business like that neither should those companies who have us as a client.
Anonymous on 06/24/2008:
I enjoyed this review. So long as a bank can earn more from fees than by lending, they will have a motive to improperly hold deposits to garner them. I wish you luck with the class action. The better fix would be to rally lawmakers to correct and forbid these shennanigans...but the banking industry is generous with campaign don't look for relief from the congress-critters.
dko61 on 06/24/2008:
I also have had issues with Bank of America putting holds on deposits without notice. I am setup for email and phone alerts on my account and have yet to receive the first. I also referred friends signed up for the referral bonus associated with that and never received one. And used the Live Chat and still received none. A hold put on a deposit of mine caused a chain reaction of fees and charges from B of A. All that was required was a simple 'Alert' which I signed up for and didn't receive.

I am going to go back to a Credit Union or locally owned bank not a huge bank. In the 80's when I worked in banking it was Bank of America that bought out the banks I worked for and laid many of us off over and over. Accounts that were opened for employment were immediately closed. I only stayed due to the hassle of changing banks, but now after the last issue of non-information and rude repsonses from Customer Service I will be closing and never refer another sole to their bank.

Horrible experience.
dko61 on 06/24/2008:
The ATM fees are the highest I have come across not only do you pay a fee from the ATM if not BofA but Bof A charges 3.00.

What is the point it is my money and I have to pay to get access to it. When they charge outrageous interest rates on their Credit Cards...and close Credit Card accounts with customers who pay in full each month.

My parents had a Visa that they used for 20 years, it was bought by BofA they saw that it was an account that was paid in full each month and closed it. Without notice. They had to find out when trying to use the card.

How insulting is that when they have perfect credit.
joyn49 on 06/25/2008:
There was a write up and also on tv that the banking industry generates 17.5 million or billion a year in overdraft and other fees. The reason the bank has changed their processing and banking strategy is to make up for their low stock. There was something about a memo that was going around Wachovia about NOT refunding overdrafts,because the bank needed to generate revenue. I now have an account with Wachovia and really don't want an account. My employer has Wachovia and we are not allowed to have "hard" checks,sooo I let my direct deposit come in, pay online a couple bills,(cellphone, tv, etc.) Take the rest out in cash and DO NOT use my debit card. I write a check for my mortgage ONLY. The BofA only has to get me 1 time for me to learn. I'm not letting the banks manipulate my money and charge h*ll out of me unscrupulously. BofA double debits your account by deducting the transaction from your balance and then when the transaction posts they debit again and charge a fee. I have my complaint form downloaded from the banking commission. I suggest everyone do the same. Good luck with the class action. count me in. I even started printing the day to day statements online. If you look at it, PRINT IT.
Anonymous on 06/25/2008:
BoA is the WORST credit card company I have ever dealt with, and I have a sterling credit rating, so the fault wasn't mine. The jerks tried every trick in the book to milk money out of me when I had their card. Run as fast as you can away from them. No offense to those who love them, but this is my experience.
joyn49 on 06/27/2008:
there is a form letter on capwiz that is for legislation concerning fees, cc and the like, this has to be sent by 7/18 so rally all to fill one in.
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They lost TWO deposits!
Posted by on
CHICAGO, ILLINOIS -- Hi there, my name is Susanna *****. We have a nightmare to relate about Bank Of America deposits being "lost".

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

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

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

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

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

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

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

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

The contact information is this:

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

Then after getting a pretty snotty response, I called:

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

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

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

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

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

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

Dog_Lips on 09/24/2006:
BofA sucks.

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

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

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

Have any of you tried this?

LadyJay114 on 04/26/2007:
One thing I stopped doing a long time ago was making deposits into ATMs. I used to have issues frequently using this method. The problem with making deposits in ATMs is you don't know where your check is going or who's handling it. Also, you can't even prove to the bank that you actually put a check in the machine. I do all deposits now at the teller. When you go to the teller, there's all the proof in the world that they received your checks - the transaction is on camera, you know which teller took your deposit, the teller stamp acknowledges your deposit copy. The bank is less likely to screw up. Since changing the way I deposit, I've never had problems.
AndrewD on 01/13/2011:
I will never make another deposit into an ATM. I deposited a check today into a Bank of America ATM. The machine didn't credit my account and didn't return the check. Tomorrow I will try to stop the check. I called customer service at Bank of America and they were not helpful at all. Bank of America sucks.
MikeM on 02/23/2013:
Bank of America lost one check of a multicheck deposit that I made to a teller. The coveted receipt from the teller gave me was no help. I was told that it meant nothing. Check disappeared and was never cashed.
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Most horrible bank out there
Posted by on
Don't even look at BoA for any kind of account unless you are very rich. They treat hardworking people like trash. They charge fees for everything they possibly can, and use sneaky tactics like lining up your purchases, largest to smallest with the hopes that you might forget the $1.45 cup of coffee you had and go over your checking limit so they can hit you with outrageous overdraft fees. Now, I take responsibility if I go over my limit and will pay the overdraft fee, fine - but using their system of largest to smallest transactions, instead of one fee, I could get as many as 5 of them...all for a cup of coffee.

Seriously, their online banking system is the worst. Your balance is never correct. In fact, it tends to be more than you actually have. One of the reasons online banking has been marketed as being convenient is because it was supposed to free people from having to write checks and carry around a registry. I have always successfully tracked all my debit transactions in my checking account online at other banks. That's because they listed charges as they got them, in real time. And if a charge was pending, it would still be subtracted from the total balance leaving me with a correct total amount. Everyday, I check my balance, noting the purchases I made and how much I have left. That is the registry. The real time account list IS YOUR REGISTRY.

Now here comes Bank of America, who I couldn't avoid because my older bank was acquired. Most people who do a lot of online banking use the system just as a registry - in fact, all three banks I've had before (all large banks) had the same system and it worked correctly - so why shouldn't BoA's system work any differently?

With BoA, transactions I would make would "appear" on my online banking statement in real time, the day I made them. That was great. However, the next day maybe one or two of the transactions that had appeared (and were pending) the day before, have now disappeared. This temporarily makes your balance more than it should be. Now, if you use the online system for what its intended for (as a registry of transactions you have made), its very easy to forget a purchase you made because it isn't listed anymore. It might be a day or a week before that transaction magically comes back and is deducted from your balance. By then, you've probably used up more money than you had because you thought you had more, and they stick you with overdraft fees. That's how they make their money. I have NEVER had this problem on any other online banking system. EVER. Smells like a scam to me.

Another thought about online registry versus paper - in this day and age, with debit cards taking over the concept of a check, with electronic bill pay services and with online account access why would it be convenient to track transactions on a separate piece of paper? I mean, isn't the whole point of having online "banking" is to give you a place where you can write electronic checks and have transactions recorded for you? So you have everything in one place? I remember hearing somewhere that BoA was confronted with this issue and said something like "customers should not use online banking to keep track of transactions." That's a lot of bull. They are saying that to cover their tracks about their horrible business practices. Like I said before, all three banks I've dealt with before had correct, real time, online transaction tracking. With all of its power, size, and "up to date" technology, you'd think that BoA would have the most accurate online technology that I was using 5 years ago at a different bank.

Point blank, your online statement should accurately reflect what amount you have available and what transactions you have made. Even if you track your money the old fashioned way on a piece of paper. Don't you deserve accuracy as a customer?

Take that along with listing transactions from largest to smallest and you are just swimming in fees. Don't go here. Do yourself a favor and find a credit union or community bank that will treat you with the respect that you deserve.
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User Replies:
crabbie74 on 03/24/2006:
I agree. I was with them for several years until I got fed up at all of the fees they were charging me for everything under the sun. Once I made a deposit at the ATM and my addition was wrong so they charged me for it. They suck.
CrazyRedHead on 03/24/2006:
I have been with Bank of America for almost 20 years, three bank changes and before there was any online banking. I will never let anyone take control of my check book. I religiously keep my checking register and have never had any trouble. When I write it in the registry, it is as though it is gone. Even if it shows up and then disappears. The Online banking system is NEVER meant to take over your registry, and if you allow it to then you will always have trouble. I have had a few overdrafts over the years, but is due to my own miscalculations. Regardless of how they post my transactions, there has never been a problem. Never have I ever accessed any type of fee in all of the 15+ years that I have been with them. Most of banking customers cannot manage a checking acct and they try to blame this on the banks.
Anonymous on 03/24/2006:
No bank has _ever_ said that online banking eliminates the need for you to keep a check register. That's just plain absurd.

When you make a debit card purchase, the merchant places a hold for some amount on your account. That's the pending transaction that you see. Some merchants, however, do not place the hold for the accurate amount, or, they are not efficient about processing the actual transaction. For this reason, banks automatically drop the hold after a period of time, in case the actual charge never comes in. In the case of BoA, it is 24 hours. The credit union where I bank does it in 3 days. It varies.

Because you can never know online if the merchant processed the transaction for the actual amount, or if the actual sale has cleared, you just cannot rely on online balances. The prupose for them is to help verify the amount you have in your book, not to replace it.

BoA is a commercial bank. They exist to earn money, if you allow yourself to be liable, they will take advantage of the situation you created. You might think of trying a more consumer friendly environment, a community bank or a credit union.
Ponie on 03/25/2006:
This is a new one for me. I never heard that online banking was supposed to replace your check register! I use online banking to eliminate the hassle of writing and mailing checks. I also check my account at least twice a week to make sure there are no incorrect withdrawals made. In my entire lifetime I've been hit with NSF fees only once. The bank paid all checks rather than return them. I went in to talk to the branch manager. We discussed the error I committed in transferring funds during a grief-enduced haze. All NSF charges were removed. I wish the poster could cite the advertising the bank does telling us we no longer have to keep a check register. Don't be so free with your spending and not keeping track of it. Learn to live beneath your means.
crewboy on 03/26/2006:
First of all, you should not be using online banking as your sole means of recordkeeping for you checking account. Yes, online access to your account activity is a wonderful and very convenient thing. However, you still need to keep an accurate and updated record of your transactions in your checkbook register. As you stated, certain times a transaction will not show up for a few days and you need to make sure that you don't overdraw your account, hence the need to record this into your paper register beforehand.

Secondly, what would you do if your computer crashed or if the server crashed at the bank due to technical issues? If you didn't have access to your account online you would have a serious problem if you weren't keeping it updated on paper as well. The online banking is another tool you have to help make banking easier for you, it's not meant to replace your paper records and it shouldn't be used as such.

I had a checking account for many years before I started using online banking. The difference now is that I can access my account on a daily basis and reconcile my checkbook balance with the online balance, similar to what I used to do once a month when my paper statement arrived in the mail. But it's a lot less of a headache now because a small arithmetic error can be caught within a few days instead of letting an entire month go by as was the case before online banking.

So please, continue to keep accurate records on paper and use the online banking as the tool it is intended to be. Reconcile your balance every few days while being sure to save receipts and enter them into your checkbook daily. Also monitor your account regularly online so that you can catch fraudulent transactions earlier on, rather than having to wait until your monthly statement comes in the mail.
TikaT on 03/27/2006:
Just wanted to respond to people's comments - I have only been charged an overdraft fee once in my entire life..that is when BoA took over my account after it bought out Fleet bank a little while ago. Everything had been great until a week or so later, two transactions slipped off into oblivion and didn't resurface until weeks later. Since my account balance was always correct with Fleet, it was my fault to think that it would stay the same with BoA.
Like I said in my post, I have never, ever seen such a crude online system like what BoA has. Yes, merchants put holds on transactions and sometimes transactions don't show until a few days later depending on the business - but 85% of all my transactions I have ever made in the five years I have used online banking have shown up immediately. The amount of the transaction, regardless of whether or not it was on hold, was always accurate and taken from my account balance at that moment until it was no longer on hold. And, when I go to a merchant (like a gas station) who tends to hold off on transferring a purchase for a day or two, that's fine. I take note on an excel spreadsheet which I check daily.
To me, it doesn't make sense - I don't have a checkbook with a registry because I don't write checks. I shouldn't have to count little slips of paper...I haven't had to do that for FIVE YEARS. It wasn't until BoA's system took over the reliable system Fleet bank had that these problems surfaced.
Five years ago, Fleet's online system tracked all transactions and deducted them from my balance even if they were on hold. I never had a merchant charge me more than what I paid for temporarily either. Transactions never "disappeared"...that is ridiculous. At least if BoA kept a record of every transaction you made (even the ones that were going to disappear) maybe I would be more sympathetic. But they make it look like certain transactions never existed. That is designed to trap you. I never, ever had that happen to me before. You'd think that the online technology they use would be better than what was available five years ago, but nope.
Anyway, I found another bank that has the same system that Fleet did and I have not had any issue with disappearing transactions, listing charges largest to smallest or anything else designed to trump you into paying a fee. We all forget a transaction at least once in a lifetime, would you rather pay one fee or five?
dsmith68 on 03/27/2006:
Purchase something like Quicken basic for $30 and use that as your register. Then reconcile with your online statement. To use your online statement as your only register is nuts.
BOA EMPLOYEE on 04/03/2006:
I worked at fleet as a loan specialist and before that I did customer service at the telephone banking call center. 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. I know how upsetting it is when the branch sends you to the call center and then you get sent back to the branch. We at the call center have been trying to educate the branches on actually what we are able to handle. Something's are only for the branches to handle(e.g. updating or correcting a customers name, because it requires the supporting documents can only be handle with at the branches) and yes most of the branches do have attitudes that need some adjustments but what I can say is at the call center we are working hard to make your banking with us a pleasant one. We had some issues with the merge with Bank Boston (as Fleet) and then with Fleet, however we have finally fixed them. and anytime anyone has a problem with a rep on the phone all you need to do is ask for a manager and it will all be taken care of including actions being taken towards that rep. Which includes being fired. At the call center ruddiness from a rep is not taken lightly. We also monitor the calls to hear how the rep. are on the phones (and they are silent monitors so they don't know we are listing to them our selves, best way to catch them messing up. On that note though not all calls are monitored)

OK now about are banking fees. Any and all banks are going to asses a fee when you over draw your account (mine including, which by the way is a credit union, and their fee is the same as BOA). It is your responsibility to keep track of your money and the checks you write. not BOA's. and if you over draw your account, its your fault not ours. And if it is a banking error we will rebate any fees and interest we have charged you without a problem. And most times even it is the customers fault we will still give a COURTESY rebate when asked unless you're overdrawing your ACCT numerous times in the past and have rebates totaling something like $300.00 in a12 months period then it is shame on you, maybe that is mean but this is a business and all banks have the same policy. You cannot honestly expect to bounce checks left and right and for BOA to allow it. I mean bouncing checks is illegal if you are not taking care of it. Second of all when it come to automatic payments that a customer sets up with a company don't you think if your closing the checking account you would need to contact the company YOU gave permission to, to take the money out in the first place to let them know YOU are closing your account...that's not BOA's job, how are we to keep track of all the agreements YOU make with the companies YOU do business with (we are not mind readers. ) We don't assign each employee at BOA one account to monitor all day long. There is no way for us to do that.

And don't yell at a CSR for following policy and procedures. We are only doing our jobs and if we go against it we won't have a job, and like you we have families that we are supporting. I know that I do the best I can for ALL my customers when they call me and will go above and beyond to get things done right the first time but I do have limits and I most follow company rules or I won't be around to do anything, just like any job there are rules set that we all must follow. Besides try to imagine what it is like for us. All day long people call us and yell and swear (very vulgar words) and threaten us because once again they bounce a check because THEY didn't write down in their check what THEY have been spending, and are screaming it is our fault THEY cannot balance it and how dare we charge a fee for those 6 bounce checks. Then we go home after being yelled at all day to screaming kids, bills that need to be paid, and a house that needs to be clean. What a fun day for us.

Also if people would read the stack of papers you get when you open your account and ATM cards you would see that it state that if you continuously overdraw your account or leave it at a negative balance for a long period of time that we will close the account, so don't blame us if your not capable of the responsibility it takes to have a checking account and the privilege is taken away from you.

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.

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 one or two 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.
flashrock on 05/17/2006:
I am aware of boa practices, 5 charges come in boa will bounce the largest one first, then proceed to bounce the smaller ones... in which all of the smaller ones could have been paid and only 1 nsf charge would apply on bouncing the largest one.... they need to deduct by the order the charges were made, not by how boa can make the most $$$ by manipulating the order... I also keep an excel register and mine is accurate to the day I made the charges... meaning I had money in my bank when I used my card.
Unhappy Camper on 06/17/2006:
I've had the same problems with BOA. Once I lost almost an entire paycheck to overdraft fees...including one for an ATM withdrawal from a BOA machine, for which I had adequate funds at the time! Why wouldn't a cash withdrawal be considered a real-time debit?

I went to my local branch to complain. The rep with whom I spoke tried to explain their convoluted "largest to smallest" transaction listing to me, including the "reason" (I use the term loosely) why some transactions "disappear" online only to reappear on the online statement after they've hit. When I told him that it just didn't make any sense, he himself said, "I admit, it is a little hard to follow." He followed that by saying that I should balance my checkbook on paper and not count on BOA to keep track of account activity chronologically.

I wouldn't have a problem with that if BOA weren't always pushing their "stop your paper statements" campaign. Yeah, right! The way transactions appear as pending on one date, then vanish, then reappear in some arbitrary order? NO WAY! It's like letting the fox guard the henhouse. A paper trail is the ONLY means the consumer has of proving a dispute. Don't give away all the power to the bank!

I have direct deposit and a lot of automatic payments through BOA, which I now keep track of scrupulously. I also make sure to keep a fair chunk of extra change in my account so I won't be blindsided by penalties for small charges I have forgotten. I have opened other accounts at smaller banks since then, and I hope to be Bank-of-America-free in the coming months!
taviles on 08/24/2006:
Their system is very bad business for all of us. I can have a charge on my bank card on a Thursday morning lets say 8.00 and a deposit at ATM of 300.00 CASH, on Friday for 15.00 and 6.00 and on Saturday for 22.00 and 50.00 and by Tuesday morning they will appear in order from highest to lowest on my stated and not by transaction date and the deposit will appear last.

How convenient for BOFA...

Over 48hrs to clear a cash deposit...
sloshan on 06/22/2007:
I thought I would give you some peace of mind: Bank of America treats the rich the same way. My mother was left destitute after Bank of America locked her out of her own trust. They never returned phone calls or responded to letters and left the situtation unresolved until her death 3 years later. I've seen reports of many other Trust and Investment clients treated the same way. BofA is incompetent, unethical, but is an equal opportunity gangster.
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theft on an ATM deposit
Posted by on
RIVERSIDE, CALIFORNIA -- On May 19, 2005, I deposited $4630.00 Cash late at night in the ATM outside our local branch. (Stupid thing to do!) I also deposited that same night two checks each worth $1000.00. Total deposit that day was $6630.00. The next day I went on bank online around 6 p.m. to pay some bills, thinking I had my money in the account posted already. Online said that I had only deposited $2430.00 total the day before. Which in fact I deposited $6630.00. I right away called the 800# to find out what was going on. I figured I could reach someone there because customer service closes a little later. Any how the rep said that they deducted $2200.00 from what I keyed into the ATM. She said I only had $2430.00 in cash that I depostied not $4630.00. I went crazy! (Can someone please tell me how someone can miscount a large amount like that?) I told her that I knew for a fact how much I had in that envelope. My husband and I own our own business and every night when we close we count the money and enter the amount in our ledger. We recounted the money in the car so I can write on the envelope how much I had in cash that I was going to deposit. My husband was there when I did that. That night we went to the bank to deposit because I had some bills to pay. I also asked her about the two checks why they weren\'t showing that I had deposited checks also. I did inform her that it was two different transactions. She did not show no checks. She transferred me to the dispute department. I told the dispute department what was going on. They entered a claim in for the checks. And they entered a claim for the $2200.00 that was missing from my account. The rep said that they will be mailing me a form that I have to sign and fax back. I never received a form. The next business day I went online again to see if any chances were made. It posted that they found my checks. I called the dispute department to ask about the cash dispute not about the checks. I did tell them that they found the checks. But for some reason they re-entered the claim again for the checks and the cash. I don\'t know why when I was just calling to get status only. Keep in mind every time they enter a claim they give you a temp credit until claim is resolved. I knew about the first credit when I entered the claim the first time but, the second time I did not know. I told them that I had too much they over credited us on these claims. A day later they sent me two letters, one was for the cash dispute and it said: \"After carefully investigating this claim I came to the conclusion that they\'re is no bank errors, and your account will be deducted $2200.00 that was credited to your account!\" and on the checks dispute, (which I don\'t know why they\'re was a dispute out there for it in the first place.) it said: \"After investigating this claim carefully, I came to the conclusion that we over credited you for these checks and we will be deducting $4000.00 from your bank account.) How in the world can they figure that they had a conclusion in less than a day, because I received the letter two days after entering the claim the first time and the date on the top of the letter had the same date I spoke to them. It takes awhile, a day or two to get the mail. Keep in mind they credited us twice for these checks but in the same time they really did not put the actual $2000.00 from the checks. So, basically they were going to take the $4000.00 that they were over crediting us on. (I understand!) I don\'t understand were is my actual $2000.00 from the checks? I called once again. (2 hours again!) They finally realized what was going on and credited me my $2000.00. That was fine and all but where is my other $2200.00 cash that I actually deposited. They ended up deducting that from my account. I called and asked them what was going on. I spoke to a Ray in dispute department last and he informed me that they\'re is nothing he can do anymore because they entered the claim already and dispute department closed the case. I was transferred to a manager, which did not want to help me at all, she told me that I have to write a letter to National Debit Card and explain my story. I faxed them four days ago and I still have not heard a response. I have no other choice but to take this to court. I will no longer deposit cash in the ATM again. I will be closing this account. Bank of America is the worse bank ever. I had an account with Washington Mutual and I never had this problem before. I will be returning to them. $2200.00 is a lot of money to just let it go. We work hard for our money and meanwhile B of A just keeps taking money out from our account for NSF fees because now we are overdrawn $3000.00. We don\'t know what to do. We do not recommend Bank of America to anyone. They reputation has gone down a lot for stupid things like this. We feel strongly that one of them must have taken the money and pocketing it. How else do we explain an explanation like this.
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User Replies:
DavidD on 09/21/2005:
Internal theft is a big problem for companies these days. Bank of America seems to have found a way to avoid the losses by passing the cost off to it's customers.
kingmd75 on 11/19/2005:
I'm sorry you had to learn such a hard lesson about depositing cash into an ATM.
holycrap on 12/06/2005:
I believe you its happened to me also, there are some fn crooks working in the banking industry. supposedly 2 employees count deposits but if they are in on it together...their word against ours,
never deposit cash in an atm only checks.
holycrap on 12/06/2005:
forgot to add bank of America sucks ass. hope they go the way of ATT.
WAMU Hater on 05/03/2007:
I just had the same thing happen to me at WAMU in Temple City, Ca. They are thieves also. This happened to me last year and they refunded my money two weeks later with no apology. This time they insist it was my mistake and that is impossible!! STAY AWAY FROM WAMU ALSO!!!
llamas79 on 09/05/2008:
I feel your frustrations! Recently I deposited 1,650 dollars in cash at 10:30 p.m. at my local B of AN ATM on a Friday night and somehow I was only credited 165 dollars. How they got that amount, I really don't know because I only placed 100's and 50's in the envelope. I went through all the trouble of filing a claim to only be told that basically I never deposited the amount I claim I deposited. I was pretty bummed... If any one out there knows how to resolve an issue like this please share, I'de like to know.
jrbrook76 on 03/27/2009:
I'm sorry but as a business owner, I would think you'd be smart enough to make your deposits at the counter. Obviously, if you know you put the cash in, it's not totally your fault, but it's not very smart to put such large sums of cash into an ATM. Have you ever seen some of the losers that work at bank branches?
BokiBean on 03/27/2009:
What a mess! I feel bad for you..once the complete incompetancy settles I feel like its going to be your word against the banks, and that ain't good.

Please consider a credit union and no cash deposits without an immediate receipt from a teller.
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StarEmpty StarEmpty StarEmpty StarEmpty Star
Sold My Mortgage And Then Cashed Forged Flood Insurance Checks
Posted by on
Rating: 1/51
STATEN ISLAND, NEW YORK -- It started 3 years ago, my husband died and the mortgage was in his name but the deed in both of ours. I gave them everything they asked for and wouldn't put mortgage in my name. I paid every month and then hurricane Irene happened. My house got destroyed. I put all my husbands life insurance into my home so we can live there. I became behind on my mortgage but was waiting on the insurance check and then I'd be current. Well hurricane Sandy came and I don't have a house anymore. My 4 year old and I just moved back a month before to be evacuated again. All this time BOA will not talk to me cause I'm not on the mortgage but insurance on the house is in my name. February 2013 happens and I have $44,000 in checks for Irene and about $100,000 for sandy. The bank refused the checks and said the house was gone so they definitely couldn't accept Irenes checks cause they couldn't inspect the work. I have have receipts they don't care.

Now I find out they served a residence I lived 10 years earlier foreclosure papers, that they said were delivered to me. Never happened I didn't get them. We have been fighting back and forth so BOA decided to sell my mortgage to Nationstar as of June 1, 2013. I just found out on March 24th 2013 BOA got my insurance checks reissued to them (needs a dual endorsement) and cashed them through Wells Fargo bank without my signature - and I didn't even know about it. They didn't inform me my lawyer found out.

So they got almost $100,000.00 and they didn't even own my mortgage anymore. Wouldn't take the checks so I would've been current but made me struggle all year. I couldn't even get help from the city cause I wasn't current...what can I do???

Finally they handed the money over to Nationstar but their saying they didn't have to tell me and they don't have to put it in escrow or have my name on it? What the hell am I in the twighlight zone... I paid years for that insurance to help me and I'm getting screwed...
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User Replies:
Soaring Consumer on 12/18/2013:
I suggest filing a complaint with your state's insurance commissioner and the office of comptroller of currency, sounds like some serious misconduct going on.
tnchuck100 on 12/18/2013:
This is a good example showing that Bank of America is allowed to operate without regard for the laws the rest of us must follow.

Government sanctioned fraud??
clutzycook on 12/18/2013:
What on earth is your lawyer doing about this? They should be dealing with the banks, not you.
Likesbeefpies on 12/18/2013:
Tough situation but an abject lesson to others. It isn't about falling in arrears but a pattern of doing so that will zap you. A bank won't now sell your mortgage unless you have a spotty payment history over many years. Too much house? Budgeting issues?
Your mortgage has been sold, concentrate your resources on whomever purchased it.

nikalseyn on 12/18/2013:
You need an attorney well-versed in real estate law. You can get a free consult from most attorneys. You cannot do this on your own. You need legal advice and help. Ask friends, etc. if they know a good lawyer.
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Bank of America Steals Child Support
Posted by on
PROSPECT, CONNECTICUT -- I was just charged $140.00 in fees that Bank of America applied one day before they got around to posting a child support check ($758.00) that they received three days earlier. Then to add insult to injury the gave me a $35.00 dollar "courtesy refund," whatever that means? According to CT Support Enforcement, my delinquent child support check was deposited in my Bank of America checking account on 1/6. Bank of America charged me $140.00 in fees on 1/9, and they posted my support check ($758.00) on 1/10. When I complained they wrote that after reviewing my case they would issue a $35.00 credit, it's just utterly ridiculous! If they were in the right then how do they justify the $35.00 credit, was it a gift? I also love the sarcasm, "esteemed customer" and pointing out that my savings account was at zero! I'm a divorced mother of two working 24 hours a week while taking the prerequisites for nursing and my child support was over a month behind! I don't think the banks in general are in any position to make sarcastic remarks about managing ones finances! I have written to them several times to no avail! They claim they are justified and wrote the following, "Please be advised the $758 credit from CT Child Support is an Automated Clearing House (ACH) transaction. After reviewing the ACH transaction details our records show that the credit was scheduled by the initiator to post on 1/10/2012." Why would CT Support Enforcement make me wait till the 10th to receive money belonging to me? How convenient for BOA! According to CT Support Enforcement's automated service the money was deposited on 1/6. Now after paying bills I'm left with $40.00 in my account till next Friday, and I can't buy gas, groceries or anything else! The best part is that of the checks they "covered," not one of them totaled $35.00. Bank of America's policies are the sad result of corporate greed!
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User Replies:
DebtorBasher on 01/15/2012:
The check was deposited into your account on the 6th, which was a Friday. It may show as 'pending' but not 'available', check to see when your bank updates their computers over the weekend, looks like they don't update them until Mondays, which in this case is what you were showing on the 9th.
If the child support check wasn't to post until the 10th, that's exactly what the bank did. They are not allowed to have the funds available before the check date. This was not the fault of the bank. You need to make sure the funds are 'available' before writing checks from it to prevent the extra fees.
At Your Service on 01/15/2012:
To me, the simple lesson to learn here is not to write the checks before the amount is in the account.
trmn8r on 01/15/2012:
They did not refund $35 because they felt they made an error - that wouldn't make sense, and the bank officials would be in jail or out of a job if they were overseeing actions like that. They felt that you were properly charged the overdraft fees due to insufficient funds, but as a courtesy banks often give one courtesy refund, which is what they did. In some cases, they refund half the amount of the overdrafts. EITHER WAY, this is only to be expected ONCE (1 time).

Here is the crux of the problem: "After reviewing the ACH transaction details our records show that the credit was scheduled by the initiator to post on 1/10/2012" This is an ACH transaction, not a check. I think you need to check again with CT Enforcement to find out why the funds were not available prior to the 10th.

The overdraft policy itself - yes, all banks I know of charge overdrafts of $30 or more, and it doesn't matter how much you go under by on each transaction - $5 or $50.
Old Timer on 01/15/2012:
B of A is an embarrassment to itself and the banking industry.
Anonymous on 01/15/2012:
I would never do business with them
drugdoc121 on 01/15/2012:
Another thing to consider. Out of state checks normally have holds on them before they clear as available into the account. Holds an be anywhere from 2 business days on, depending on the institution.
madconsumer on 01/15/2012:
I have been treated with 110% respect from all my years with bank of America.
mid2348 on 01/16/2012:
Trnm8r, I plan to contact CT Support Enforcement to inquire about the hold on my deposit. It doesn't make sense, because the bank was open for business on Saturday and Monday... It wouldn't be the first time Bank of America was accused of creative posting. In fact that credit they issued posted at about 1:00am on the 12th, slightly outside bank hours! Either way they win, and I have decided to close my accounts and opt for a more customer friendly credit union. I'm tired of feeling like I'm speaking to a bot! I would swear from their response that a computer is responding to me. To those who think BOA is concerned about their!
yoke on 01/16/2012:
When was the child support supposed to be deposited for use, the 6th or the 9th? What was your balance on your account on the 6th? Did it reflect the deposit? If the state stated the funds to be released on the 10th that would be the date BoA could release the funds. The state may have made the ACH deposit on the 6th, but it was not due to be released until the 10th. When my husband gets paid we can look on our account a few days before and see the deposit pending and what day it will be released.
traceylynn on 01/16/2012:
Also even though a bank is open on Saturady it is not a 'posting' day. 'Posting' days are only days the Federal Reserve is open. Saturday, Sunday, and holidays do not count. And any post made Friday after cut-off ( my banks cut-off is 4pm, for example) will not count until the next business day which would have been Monday.
Slimjim on 01/16/2012:
In this week's case, any deposit made last Friday, wouldn't even be able to count off one business day until tomorrow.
Old Timer on 01/16/2012:
True Slim, a banking holiday on a Monday can push a late Friday deposit out five or more days. And BofA will use that opportunity to line up NSF's for the maximum in can soak it's customers for in NSF fees.
trmn8r on 01/16/2012:
I think it is important to remember that this is an ACH transaction, not a check, and that BoA's argument is that per instruction of the depositor (CT Enforcement) the funds were not to be made available until the 10th.

Personally, I would be calling CT Enforcement.
mid2348 on 01/17/2012:
I wasn't able to call them today due to the holiday, but I plan to call in the morning. I had been told by CT Support Enforcement that if the deposit didn't show by Saturday then it would be Monday. They never said a word about a "hold" on my payment. This also isn't the first time I've collected child support. Once they receive and post the payment, it usually shows in my account the next day. I'm dying to know why they would place a "hold." I agree with Old Timer, BOA cashes in on it's customers, and there are plenty of law suits against them to support that fact. They recently settled a $410 million suit for excessive overdraft fees.
Cwazychicken on 01/17/2012:
Maybe, just maybe, there was a delay in your child support because of the new year? Maybe the place that your ex works at, didn't send the checks out on time so the state didn't get them as you usually do? I have done this where I thought I was getting a check, wrote a check too soon, and ate myself up for doing so. With child support, you aren't guaranteed a specific date. Plus it does take 2 days to transfer from the CS office to your bank account. So that's the only thing I can explain happening....other wise I'm stumped. When a holiday falls, they usually are delayed from both my exe's job getting to child support and child support getting to me.

And unfortunately, banks have a rule of anything under 5 bucks (the first 5 dollars only), you have 10 days to take care of. If it goes over 5 bucks and another check comes in for a dollar (yes a dollar), you will be charged 30 bucks per check.....My mom had that happen and it sucked to lose 30 bucks for a dollar! But that's how banks work. Got to be very careful!

EDIT: It seems it was over a month behind. Maybe your ex just didn't send it in on time. or CS put a hold on the funds til the 10th for another reason (One time, my ex's wife had to sign something for state to release a 1700 dollar check to me, I was mad but luckily she signed the paper and I got it a few days later)...that has happened to me before, sometimes they hold the funds because I already got my amount for the month then they give it to me when the 1st hits, then I get it on the 3rd.

But all in all, I'm sorry you got sucked out of that much money for so little spent.
mid2348 on 01/18/2012:
Update, CT Enforcement stated that they did not place a hold till the 10th and BOA holds firm that the "financial institution" used by Support Enforcement did not send till the 10th. Regardless the fees of $140 on checks that together totaled $70 is sad, especially in an economy where people can barley afford to breathe.

@ Crwazy thanks! I wish I could just have my ex pay the support directly to me, but I know it would lead to endless battles over what is owed, paid, etc., I'm pretty much forced to rely on SE, it's always delinquent but eventually they collect the support.
trmn8r on 01/18/2012:
The fees you speak of are usury and horrible and all that, but it is that way at all banks I know of today. My dentist held a large check for 4 months+, and cashed it on Jan 3. The only explanation I can think of is he held it for tax purposes. Guess who carried that balance along mentally for 3 months, and then forgot about it? Cost me $35 a day, and luckily I only was hit once before I happened to discover it online.

It sounds like you didn't get an ultimate explanation - that stinks. Lesson learned - keep a buffer in the account so small items that roll in don't cost you a fortune. I'm still learning, as documented above.

You have also learned to be wary of deposits from CT Enforcement. This also stinks because it sounds like they don't arrive on a regular basis in the first place. Good luck.
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Posted by on
My debit card info (debit card is in my possessio/not lost or stolen) was compromised over the 4th of July holiday and caused my rent check to bounce and other transactions to be denied. I was charged over draft fees left and right. When I called Bank of America to cancel my card immediately and file my complaint, the customer service representative began to give me a list of places where my debit card number was used...these were all unauthorized charges of roughly $550 plus $200 in overdraft fees. Bank of America only refunded me $541. They said it would take 90 days to investigate and they gave me a claim number to refer to when I call back in 90 days. It has now passed the 90 day period and I just routinely checked my account only to discover that Bank of America had not only taken the $541 back but charged me a $35 overdraft fee and are now showing me $565 overdrawn. I called to see why they took the money back and was told that someone had to been in possession of the card even if I did not know who it was and this is not considered identity debi card was in my possession the whole time, just the card number was being used. After 90 days of waiting to see what they found out they are trying to make me out to be the bad guy and in my opinion they are now the thief...they have now taken my money and then charged me $35 to do so. Now after 90 days they are telling me to go to the police and have them go to the different merchants so that tapes can be pulled showing the person who was using my number. I could have done this in the beginning instead of trusting them to handle to no advantage to me. I have waited 90 days to end up right back where it all began...minus the money that was taken from me. I have been with this bank for seven years, this is my first major complaint and I am treated like a criminal..will not EVER recommend them to anyone..closing account Asap!!!!
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trmn8r on 09/28/2011:
This sounds like standard practice. BoA investigated the case, and ultimately determined (right or wrong) that your card was not obtained by someone else and therefore the charges are legitimate.

Their advice sounds logical - conduct your own investigation and report it to the police if you haven't already.

The one time I had a dispute with a bank, they warned me that the amount in dispute could be taken from the account without warning. Too bad BoA didn't warn you so you didn't get nicked on the last overdraft.
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Bank of America maintenance fees
Posted by on
A couple of month past, Bank of America sent out notices about the new structure to maintenance fees. The fees were dependent on minimum balances and or a minimum of $250.00 direct deposits. Today I was balancing my checking accounts, and noticed on one account they assessed a maintenance fee. I decided to visit my local branch to query the maintenance fees. The young man in customer relations named Eric, greeted me politely, ask what my visit was about, and shown me to his office. After verifying my identity via driver license and bank card, proceeded to access my accounts. Eric stated he noticed my direct deposits, and asked me what my concern was. I stated I recalled the recent notice and the minimum direct deposit amount, and why I was assessed the maintenance fee. He stated the minimum deposit was per deposit, not total deposit. On this one account I had changed the amount to total per month not per deposit. This nice young man said he could waive the maintenance fees for one year, refunded me the maintenance fee assessed this month, and asked if I had any other concerns. He said he noticed this account was used for online purchasing, and asked if I took advantage of Bank of America's "Add it Up" program. Giving a puzzled look, I stated no. He gave me the details, and said I could be earning cash back for all my online purchases with participating merchants. I rushed home, and gave it a try for an online purchase. I look forward to earning free money!

I was treated politely, my concerns were listened to, and wished a nice day as I left. Thank you Eric for your polite and friendly service.

Bank of America rocks!!
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Anonymous on 07/29/2011:
Great review! Very informative! One of the few banking institutions that still cares about its customers.

Thumbs up!
Anonymous on 07/29/2011:
Wow! Your BOA CSR's have offices? Our banks all have open floor plans.
Anonymous on 07/29/2011:
I was just curious to how much the maintenance fees would be if your balance feel under the $250.
madconsumer on 07/29/2011:
AFR the monthly maintenance fee is $12.
but as long as you have direct deposit of $250 per month it is free also. the minimum balance I think is $1200.
Anonymous on 07/29/2011:
I have recently become an administrator for someone's BOA accounts who receives DD's and was unaware of these new fees. I'd better bone up on the new conditions so I can properly maintain their accounts as I am accountable for them. Timely info, thanks!
Anonymous on 07/29/2011:
Thank you for clarifying that for me madconsumer. $1200 seems pretty steep. Oh well.
Alain on 07/30/2011:
Good review, Madconsumer! I use BoA and have also found them to be polite and helpful.
CrazyRedHead on 07/30/2011:
I have BOA on both checking and savings and neither have a maintenance fee. Direct deposit causes my checking account not to have one and my keep the change stops a maintenance fee from appearing on my savings account.
Anonymous on 07/30/2011:
Sounds like your branch has great service!
clutzycook on 07/30/2011:
CRH, I didn't know that. I have the same features on my checking and savings accounts. Glad I signed up for KTC all those years ago.
madconsumer on 07/30/2011:
I do not pay any fees on my other accounts, it was just this one spare account I use for online purchases.
Anonymous on 07/30/2011:
I might consider opening up a BOAmerica checking account and check out the direct deposit feature etc. Thanks for all the helpful comments and review.
madconsumer on 07/30/2011:
AFR if you can maintain a positive account, and do not bounce checks or overdraw via the check card you will have a great relationship with bank of America!!
Anonymous on 07/30/2011:
Thanks madconsumer. Mostly I'll probably just use the checks. As far as small purchases like at CVS or something, I'll just use cash.
Anonymous on 07/30/2011:
I'm also glad that there have more positive reviews like this on BOA on both m3c and PlanetFBack as of late. Top reviews like this will be inspiring to those observing the sites.
madconsumer on 07/30/2011:
one I have noticed is that since the banking laws changed, and now banks are refusing overdrafts with debit card, complaints overdraft fees have nearly diminished.
Anonymous on 07/30/2011:
that's a real positive change!! It shows that BOA really does indeed look out for their clients, and not try to milk them of various fees of sort.
Old Timer on 09/28/2011:
Very good info and review. I read that BofA is having money issues again. Just hope the Gov doesn't bail them out again or they stick it to their customers with fee's to stay solvent.
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Scammed by a Nationally Known Bank's subsidiary
Posted by on
About a year ago, I received an offer from Bank One's "Total Protect" stating that all my appliances would be covered for a fixed amount each monthly premium. There would be a $75m service call fee and all other expenses would be covered. It seemed to be a good offer to me, since my appliances were from 3 months old up to 20 years old.

Recently my heat pump stopped working, they sent out an unknown repairman who checked it out and while he was working on it, it exploded right in front of him. The process of replacing it began. The package came to him on July 1st and they weren't too eager to put in the system on the second of July, but after talking to Total Protect they arrived to put it in.

No one thought to measure to see if the unit they were sending would fit into my furnace room, and it didn't. The took a power saw to my door and wall to get their unit into the room. In the process they happened to cut one of the wires in two that led to the furnace from the thermostat. By the way, the deductible had gone up from $75 to $287 before they got here by phone. When they walked in on the 2nd, they told us that they had to have a little over $400 in cash today before they finished and the unit ran.

With me sitting here in the heat, a CHF patient, I had no choice except to send my wife to the bank to get the necessary cash. They left just after the unit began to run, they ran. They did come back some days later to put the levellers on the outside unit and put the breather on the drain. I handed them a new piece of thermostat wire and told them that I wanted it put in to replace the strained wire that they had cut into two pieces when butchering my wall. They refused and went outside to check the freon level in the unit, shortly I sent my sitter out to check on what they were doing, she came back an told me there was no one out there, they had run off.

Thanks Bank of America for the nice service your contractor did for me! I am a victim of theft of a set of new lines that they manufacturer had sent to put in with the unit, elder abuse for their practice of holding the unit's ability to work until they got the extra money that they wanted.
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User Replies:
madconsumer on 07/24/2011:
"About a year ago, I received an offer from Bank One's "Total Protect" ...."

is this about Bank One or bank of America?
trmn8r on 07/24/2011:
Bank One is associated with JP Morgan Chase, not BoA.

I have few good comments about warranties like this. I know these offers sound attractive and each to her own, but I prefer to bank my money for a rainy day.
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