Bank of America Complaint - Overdraft Nightmare - One more Customer Lost
Bank of America's overdraft policies should be illegal. I have been caught up in their "fees" previously, and I was shocked by how much they charge ($33 per transaction). At that time, I thought I linked all of my accounts so that this would never happen to me again, however, a change to my savings account caused overdraft protection to disappear. Imagine my surprise when $362 in overdraft fees later, I found out that I did not have overdraft protection and there was nothing that Bank of America was willing to do to help. I was charged a $33 overdraft fee for a $7 debit! When I asked why my debit card wasn't cut off considerint that I no longer had money in my account, I was told that it was a "courtesy" to their "best customers" that they covered charges when there was no money left in the account. How is $362 in fees to me a courtesy? Then the customer service supervisor had the nerve to tell me that they don't make any money on overdraft fees. Does that $362 they charged me magically vanish into thin air?
I made an unintentional mistake, and yes, I would have preferred if I went to use my debit card and couldn't because there was no money in the account. Then, I would have known that there was a major problem, and I could have taken steps to correct it rather than having to pay the unbelievably expensive "courtesy" that Bank of America provided.
I am leaving Bank of America after 5 years. Their lack of customer service is appalling. I realize I am not a very important customer to them since I don't have any major investments to make at the moment, but I do have 3 children that are going to need funds for college and I do have a home that is going to need improvements in the future. It would be nice if they understood that the day-to-day customers like me help to keep them in business, too.
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