Bank of America Complaint - Pretty Much Says They Can Do What They Want To Do Even If It Makes It Worse For The Customer
I found this in the " Deposit Agreement and Disclosures"
K. Processing and Posting Orders
We may determine in our discretion the order of processing and posting deposits, fees, charges, checks, debits and other items to your account. We may credit, accept, pay, certify or return deposits, fees, charges, checks, debits and other items arriving to your account on the same day in any order at our option. We may give preference to any fees, charges, checks, debits or other items payable to us. We may change our processing and posting orders at any time without notice to you.
We may establish categories for fees, charges, checks, debits and other items and designate a posting priority for each category. A category may include more than one type of item. For example, we may treat atm withdrawals and loan payments as one category and checks as another category and then process atm withdrawals and loan payments before checks. Within each category, we may process and post items in any order we choose. We may use the same or different orders for different categories. We may change categories and orders within categories at any time without notice.
When you do not have enough available funds in your account to cover all of the items presented that day, some posting orders may result in more insufficient funds items and more fees than other orders. We may choose our processing and posting orders regardless of whether additional fees may result. If you want to avoid fees for insufficient funds and the possibility of returned items, you should ensure that your account contains sufficient available funds for all of your transactions.
Even if we provisionally post deposits, fees, charges, checks, debits or other items to your account during the day, we may treat them as if we received all of them at the end of the day and post them in any order we choose. We do not process and post transactions in the order in which they occurred.
In most states we process and post items within each category from the highest to lowest dollar amount. If you do not have enough available funds to cover all of your transactions on any given day, the high–to–low posting order may result in more insufficient funds items and more fees than may have resulted if we had used another posting order.
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