Bank of America Complaint - Drowning in overdrafts
Being 69 years old on social security, I, like most people am struggleing. My bank balance is substantially less than in the past. On the morning of October 2, I review my account on line and found that there were two items, a total of 25.00 pending that, when posted would bring my balance into the red.
I deposited 100.00 early in the morning and that deposit was posted to the account before the other two transactions. Bank of America charged me 70.00 anyway. They explained that even though the order in which the tranactions were poste elimenated the red ink, I still owed them 70 bucks.
BOA is not heartless. They did return half the money. the next day they charged me for two more overdrafts which put me back in the hole. They will not reverse those. They will not close my account. They will however continue to add overdraft fees daily until they close the account and ruin my credit.
They have already ruined my credit. Last spring I got a letter from Bank of America telling me that the interest rate on my credit card had been increased. not douoble, but triple!. I called to opt out per their instructions. I was not, and had not been late on a payment and my payments were always more than the minimum. The BOA representative told me not to worry about that. Just don't use the card for a couple of months and make an aggressive payment and they would not raise the rate. I didn't use the card, I made a 600.00 payment, and they raised the rate.
Now, instead of making payments around 150.00 a month I was asked to pay almost 300.00. I can't do that.
I have tried to close my accounts with Bank of America. They tell me that I cannot. Is this still the United States?
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