Bank of America Complaint - Manipulating Processing Dates to generate to generate NSF charges
MORRO BAY, CALIFORNIA -- I have direct deposit for my SSDI check. I'mon a short budget and keep trace of auto pay and debit card transactions on line.
The issue here is Pending & Cleared. I think anyone could agree that several times throughout a pay cycle there is a need to make frequent purchases for produce, milk, eggs, bread and cereal. Those purchases can run $20-30 at a time, several times a month. The problem I have with BofA is the time frame these smaller purchases are held in "Pending" status. Although the balance column reflects the correct balance, that the transactions remain in limbo.
No problem, I still have $110 then a $90 prescription comes up, OK that leaves me $20.
Not so fast. The prescription is "pending" and 2 of the smaller transactions just cleared. Ut-Oh. Three transaction are NSF. It just takes One to start the crescenda of overdraft fees for the smaller transactions. That's not the end of the damage. I start off automatically next month as much as 3 NSF charges PLUS the original transaction amount.
Bank of America has a computer program set up to intentionally manipulate and analyze usage patterns for the purpose of generating NSF fees.