Overdraft fees - that's too much!!! Complaint - Bank of America sucks your money without informing you

Review by Overdraft fees - that's too much!!!!!! on 2009-09-11
If you are a Bank of America customer, you should watch out your money. Bank of America charges you $35 as Overdraft fees EVERY TWO DAYS, rather than seven days as their announcement. Like a nightmare, they charge you $35+ $35+ $35+ $35 again and again...
Comments:9 Replies - Latest reply on 2009-09-12
Posted by yoke on 2009-09-11:
If you had the money in your account to cover all your transactions they would not be doing that. I think they expect you to have the funds to cover the transactions. Read the agreement you signed with them.

BTW, Credit Unions also expect you to have the money to cover your transactions.
Posted by the_frito_bandito on 2009-09-11:
I've been with BoA for fifteen years and have never had a problem with them. If you can live within your means and maintain a balanced register, your overdraft fees will go away. You knew their policy when you opened your account with them. It is the same one that I was given when I opened my account.
Posted by Suusan B. on 2009-09-11:
I'm really getting tired of these overdraft complaints. It sounds like you were planning on leaving your account in an overdraft state for 7 or more days. Here's how checking accounts work whether they are at banks or credit unions: You deposit money and then withdraw it via checks, debits or ATM up to the amount you have deposited. You receive an account holder agreement when you open you account wherein all the rules and fees are disclosed. If for whatever reason you withdraw more money than you have deposited you are going to get hit with overdraft fees. If you are unable to abide by the rules and maintain a sufficient balance then your best course of action is to use cash and money orders.
Posted by tnchuck100 on 2009-09-11:
Usually I find something in a post to give the benefit of the doubt to the poster as most of the regulars probably know. I have no admiration whatsoever for the big banks. They WILL take advantage of a customer whenever they get the slightest opportunity.

That said, in this case the OP definitely needs to learn how to use a check register. But even then BofA CAN get you.
Posted by Anonymous on 2009-09-11:
You should watch your money anyway, and not just because a bank might take it.
Posted by Anonymous on 2009-09-11:
Tn, banks do not take advantage of customers. banks do expect customers to have money in their account before they spend it. It doesn't matter how many overdraft fees you get or how the bank posts. Don't spend money you don't have and you won't get any. People need to grow up and take responsibility for their actions.
Posted by Anonymous on 2009-09-11:
"as Overdraft fees EVERY TWO DAYS"

Well, then... don't overdraft. Don't spend money you don't have. It's not hard to keep track of your money.
Posted by JR in Orlando on 2009-09-11:
Mr. OP, you are right. You know how convenience stores have a little bowl with extra pennies in it, in case you need a penny when you make a purchase. Banks should have the same thing: maybe a couple million or so, just for overdrafts. That way when you overdraft, you can reach in the bowl and pull out that amount to balance up. Next time you make a deposit, you could throw a couple hundred into that bowl for someone else. Seems like any bank would do that. How could anyone be expected to actually balance their account and keep track.
Posted by Fufu487 on 2009-09-12:
You mean the Banks of America ISNT a charity???? *gasp*

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