Bank of America Complaint - Predatory Over Draft Fees
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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