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Overdraft Protection Scam Complaint - Overdraft Protection Scam

Review by 14368 on 2005-03-06
JACKSONVILLE, FLORIDA -- When opening an account with Bank of America, I was informed about their Overdraft Protection Service. What they failed to mention was that you had to verbally request it.

As you all know how the banks like to hold your checks for deposit for days, yet use the new (government backed) "Check 21" law to release your funds to payees within hours.

Well it happened to me, I was out of town for a couple weeks and came back to over $100 in "unsufficient balance" fees even though I had plenty of funds in my savings account.(I keep a minimal amount of funds in my checking, just enough to cover monthly bills, just in case of identity theft)

So I requested Overdraft Protection. Months later, I see more "fees" now, being added to my BofA credit card AGAIN, even though, again I had enough in my savings acount to cover it. There explanation to this was that I had my credit card "Linked" to my checking and NOT my Savings.

Huh....I didn't have a BofA credit card when I signed up for Overdraft Protection in the first place. This is just reminder to everyone to keep track of your accounts, these SofB's will keep trying and trying to squeeze money out of your wallets.

Hope this helps some out there,
Ward
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