Bank of America Informative - BOA Overdraft Fees & System
After BOA got me for my grocery money, I finally figured it out by asking other victims. I guess I'm a 54 y/o hangover from the check days. My debit card - I expect it to come out of my account when it hits, that's it. Not the way it works. For those merchants out there who wait until later to figure it out, some oddball nebulous amount is "held" on your account, unseen by the naked eye if you look at your online account. Then bing bing $35 a pop when your debits hit because you trusted the online system. I see my paycheck is going to be credited tomorrow morning, I look at my account thinking I haven't used my debit card in days, I see the balance - and I go buy necessities with what's left. Next day? $175 out of my account. BOA: No one keeps a check register anymore because they don't write checks. If they do, they subtract it from their online balance. Debit card? Don't give one to a hotel clerk to hold a room if you're not planning on using it in the end. They'll invisible hold it and you might as well just stay in the room wherever you decided to vacation.
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