In this era of hard economic times there is NOTHING worse than getting raped by your bank in overdraft charges. I've been a BofA customer for close to 20 years. And if I'm stupid enough to accidentally overdraw my account, I usually suck up the overdraft fees and promise myself to be more careful. What happened this month, is far beyond fair or ethical, in my opinion.
On the 15th of the month, I checked my balance online and had $956. in my checking. I knew I had an outstanding check( senior living rent for my dad)for $900, so I thought I would be OK until one of my direct deposits from one of my 3 jobs came through. Wrong! 2 days later, when the check came to the bank, I now had a negative balance and $245 worth of overdraft fees.
Yes, I had forgotten that I contributed $25 to the Presidents healthcare campaign, and yes I had forgotten about an automatic debit for a useless on line dating site, BUT... the bank resequenced all the previous transactions from earlier in the week, put the check in front of them, and caused 7 overdraft items at $35 each to occur on a $2.32 Dairy Queen purchase, a $3.18 Mc Donald purchase, a $3.36 Starbucks purchase and a $4.65 Hardees purchase.
All of these items had previously cleared but were resequenced from highest to lowest amount so the bank could charge for 7 OD fees instead of 2 or 3. What a scam!!! And then, since I only get paid every 2 weeks, they added another $35 fee for being overdrawn more than 5 days. What????
Is it my fault that the economy and housing market where I own a home collapsed? Can I help it that lenders gave mortgages to people who absolutely couldn't afford them, causing massive foreclosures in my area and dropping the value of my home $300.000. and making it impossible for me to sell my home, even though I'm not living there most of the time? No. But I'm doing what I need to do to pay my bills. so, when I'm working 1 full time job and 2 part time jobs at 54 years of age (with health issues) I get really PO'd that a bank I've been dealing with for years screws me like this!
Fortunately, a bill has just been passed in Congress to stop this unethical practice. And though I'm stuck eating these charges this time, you can bet it won't happen again! And there's a good chance I'll be shopping for a new bank! SOBSBE... sick of being screwed by everyone!
Approximately one month ago, b of a shut down my card on a Saturday thinking fraud was occurring. Although signed up for alerts, nothing came in on my cell or computer. My card was being rejected everywhere although charges were occurring. Finally reached fraud dept who assured me all charges would be dropped on Sunday nite. I checked quickly and thought they were all off. Fast forward two weeks and on September 8, 2009, I was charged for 9 overdrafts from a debit card, totaling 67 dollars total for the 9 charges. once again without any alerts from b of a.
Not knowing I was being charged, I did deposit 500 on the 9th thinking that I may be a little short and went on my way... that night I was charged an additional 5 overdrafts, totaling 25 dollars of purchases and charged another 170. I tried pulling money out on the 9th and the woman informed me I was going into the negative and there would be more charges assessed that night. I transferred 200 into the account and went home to check.
After 5 business days with over 1000 in account I paid 995 in overdraft and bank transfers. I went to the local bank where they were of no help and continued with the 800 #, which I have made over 25 calls to at this time. In looking at my paperwork I realized there were 3 charges totaling 15 dollars that were never taken off the two Saturdays before when they shut my card down... this could make all the difference and had to submit a claim. All the time my card and account is frozen.
Finally they return 620 a week later, credit me the 15 on that day and not when it should have been, and charge me another 70 in overdrafts. I call b of a again and finally spoke to someone who could see the problem and sent it back for emergency evaluation (stupid me did not write down her name or #). This was on a Friday nite and she told me it would be made right within 48 hours.
On Tuesday late afternoon still not credited and call again, no one can tell me who I talked with on Friday nite but sends it back to fee dept, they credit another 240 that day but refuse to take off the 70 od's that happened when they gave me the 620 and even though they owe me the 240. Would not drop the 70 od's. This bank is a complete joke and after 51 phone calls can say only one woman was helpful... instead I had to deal with lectures, ignorance, impatience, refusal to let me speak to anyone beyond customer service supervisor level. I really can't believe this bank has not folded yet and yes my account is closed and am banking at a local bank
RIVERVIEW, FLORIDA -- My daughter is in South Africa as a student for an extended period of time. I was depositing money into her debit card account to support her. Just before Christmas season I had deposited expense money and some extra for her. For a short period of time she did not have airtime for her laptop and could not access her account to check her balance therefore she did not know exactly how much she had.
She made several small purchases just before the holidays that were "let go through"... these in turn generated $35 overdraft fees for the 13 or 20 cent automatic foreign transaction fees. Even though a customer has no control over these they were charged anyway... so in her case a $5 purchase was charged $70!!! Is this fair or is it robbery?
To make matters worse when I deposited my daughters Christmas money into the account it was swallowed up by Bank of America and my daughter was penniless for Christmas. Then I got a call from my daughter saying she was totally out of money, so I went to BofA to explain the situation in Riverview, Florida couldn't care less that a US citizen was stranded and penniless in a foreign country because the bank had charged overdraft fees. There was NO understanding or help to be found there.
I also found out that in South African Banks a debit card charge will be denied if there are no funds in the account. That lame story about "customers need mortgage payments to go through" that banks love telling as justification for letting small charges "go through" doesn't fly any more. When in doubt, "follow the money" banks have made billions in profits on overdraft charges on insignificant amounts. I really doubt banks have lost money if you take into account these unethical fees for slight errors customers make.
The taxpayer has bailed out the banking industry, it is time we had some say in how it is run, either that, or we should nationalize whomever we have bailed out. Debit cards charges should NOT go through unless there are funds in the account to fund the purchase... other countries handle it this way... they only reason banks in the US do not is their GREED for money they have not earned.
CHARLOTTE, NORTH CAROLINA -- I am reading about all the BOA reviews concerning overdraft fees. Well first of all they try there hardest NOT to credit these fees back to us. You would think that they would WANT to help the average long term customer., especially in these hard times, well think again. I have a friend that works for BOA and on there computer screen there is a section that pops up on there customer information screen and it says--
RETENTION SCORE- for most people the score is low regardless if you have been a customer for a week or twenty years. It is all about how much money you have invested with THEM and how much money they are making. If you have under 10k at any giving time, your score will be low. They get nasty and rude and when you try to complain and talk to a supervisor, they are even worse. It does not matter, all they do is look at retention score and they can say/do just about anything they want to. THIS IS GREAT CUSTOMER SERVICE.
I have several accounts with them, and they charged me 4 od's. When I called them, the SUPERVISOR, was so rude that I told her I wanted all my accounts closed. She then replied- sure no problem. Well, long story short after closing the personal accounts, I then proceeded to put my fiance on the phone to close our joint account.
She (supervisor) told my fiance the same thing(no problem). But then is when it got kind of funny. When my fiance then told her she also wanted to close her business account, she was told they did not see one. That was because it was under business and that's where we kept most of our money. That's when something must have been seen, because the supervisor started to backtrack.
She was apologizing and trying to keep us from closing the accounts. This was a Saturday, and Monday morning we had someone from BOA call us literally beg us to stay. We have moved our business account to Wachovia, and am very happy with them. We did keep one account with BOA, but am very careful with anything I do with them. MY ADVICE TO ANYONE WHO HAS A BOA ACCOUNT, SWITCH BANKS IF YOU CAN. You will see a difference in customer service with another bank (ESPECIALLY WACHOVIA).
I have been a victim of Bank of America, despite being a loyal and faithful customer of theirs for over 5 years. I have seven, yes seven account with this company. Between checking, savings, CD's, business accounts and lines of credit. I send ALL of my clients to them when assisting them with their banking. Well, not anymore. As an avid user of my BofA Debit Card I had made several small purchases one week (as I always do) between the days of Tuesday - Sunday, Dec 16-21st. For some reason they did not post until the following Monday the 22nd - despite having been paid days prior.
There was one large $366 car payment due on the 22nd which unfortunately would cause an overdraft of $35 to my account. However, BofA decided that the $366 charge would not be the one to overdraw my account but instead every single one of the other tiny little $5, $10 and $15 purchases that I had made the week prior would get hit with the fee - RESULTING IN FIVE $35 CHARGES!! The very next day I deposited money into the account, assuming the $35 had been deducted for the $366 charge. Well it wasn't enough. Because when they charged me the $175 in fees it caused my account to overdraft AGAIN - resulting in two more fees.
In total I was charged $245 in overdraft fees. HOW CAN THEY DO THIS TO PEOPLE?? How can a company get away with this? I spoke to a representative, Aaron ** in New Mexico, who was condescending, rude, impatient and patronizing. I left in tears, hopeless, as he told me to give up because anyone else I spoke to was going to say the same thing he did - that they wouldn't correct the charges and that it was my fault. He advised that I read my banking paperwork to realize that the mistake was entirely mine.
I think we can all agree that in an economy that is causing thousands of Americans grief, hardship and strain that the last thing they should be suffering from is large and excessive fees from our banking institution. How can we spend so much money bailing out banks that do not even assist - in any degree, large or small - the patrons who use them so faithfully? I am outraged.
LAKE CITY, FLORIDA -- I cannot count how many times that I have worked just to pay this wonderful bank just for the privilege of breathing. I can say for a fact that in the last two years alone my husband and I have seen many paydays with the bank receiving most if not all of my paycheck. I HATE this bank. But because I have direct deposit and I also have my bills coming out auto draft for a specific time I cannot see my way clear to get out of this thieving banks clutches, I would love to see this organization go under for the simple fact that they are making me go under.
And how can they have a clear conscious about that? They say watch your account online and keep track of your spending by checking the online balance. Go online and see that all is OK. Then have an unexpected item hit. They put back any item that has cleared in the last two days and bounce all of them. And then they pay the one large item because it may be your house payment.
Well I wish that my house payment was only 65.00. But how can anyone be that stupid and work at an institution that controls our money? So do I hate this bank? WITH A RESOUNDING YES. If I can see my way to I will have direct deposit go to a credit union very soon, then I will free of broom Hilda's wicked sister. I believe that this bank is a part of the anti-Christ. Trust me they say and then they snatch the rug right out from under your already slippery feet.
And do they care that this was all your family had to eat on or buy gas so that you can go to work and pay bills that really need to be paid? I could go on and on but I will behave. Why you say? Well I guess so that I will be able to hold MY head up high and know that Jehovah Jireh will be all sufficient in the long run. And I also know that God says in His Word that vengeance is His and that He will repay.
So maybe what I am hearing in the news about this bank having financial difficulties is that God is tired of His people being tormented by pharaoh and Moses is coming to release us once again. So have a great day Bank of America and realize that judgment is on the horizon.
MATTHEWS, NORTH CAROLINA -- I have overdraft protection from my credit card account connected to my checking since July, 2007. In my repeated instances where it was delinquent but I was not informed. At one point in October, 2007, I paid at least $70.00 of overdraft fees. Then another of this instance happened again in January, the credit card division of Bank of America delinquent my overdraft protection then refuses to alert me about this stating that it is my responsibility to know if it was linked or not, which will mean that I have to call them almost every day. But each time I called them, I was always informed that it was linked between checking to credit card.
The only way I could have known about this is when I was assessed overdraft fees from checking account. Bank of America checking account division did refund me part of the overdraft fees for the month of January. Similar situation kept repeating on February. I called the customer service at the Bank of America checking account who told me that checking account and credit card was not linked up although the customer service of credit card division (Bank of America) informed and reassured me that I have overdraft protection.
Then, my checking account kept delinquent. I was charged for more than $105.00 but was only considered for $35.00 refund. I inquired again on March 11, 2008 to verify if I have overdraft protection from checking to credit card and the customer service told me "YES" effective 3/14/2007. Then, today I found out that it was never link up from checking to credit card for overdraft protection since January, 2008. This was confirmed to me by a bank manager from West Virginia by the name of **.
This kind of lies and deception as well as callous behavior is highly intolerable especially when I asked repeated if there was problem with the linkage. The deception and the overt manipulation of Bank of America in taking advantage of overdraft fees plus APR on your credit card should not be tolerated.
CALIFORNIA -- I am a B of A customer not by choice as I opened my accounts (both savings and checking) with BankBoston which was acquired by Fleet and later B of A. On September 29 & 30, 2007 I authorized the Kaiser Pharmacy to charge my B of A debit card for two prescriptions. Both charges appear on my bank statement. I noticed on November 19, 2007 that 4 (four) overdraft fees were imposed.
When I called customer service at 1-800-432-1000, I was told that Kaiser made two charges on my account the same amounts. I received a direct deposit to my account on 11/16. I explained that those charges were from back in September and no additional purchases have been made since. I contacted Kaiser who informed me that they have only charged me for two prescriptions back on 9/29 & 9/30 via my debit card and have no additional charges but that they would explore this issue. Moreover, she stated that it does not take close to two months for Kaiser transactions to clear.
I received a letter from Kaiser indicating the following: "We're writing to notify you that some members who recently made prescription drug purchases via credit card were unintentionally charged more than once for the same transaction. Please rest assured that we have identified the source for the mistake and are working with the credit card processing company and the credit card issuers to reverse the extra charges as quickly as possible"
"What happened? During the weeks of September 29 through October 12, 2007, our credit card processing system experienced an error as a result of a security software update. This error caused the system to charge some members for prescriptions more than once. As soon as we discovered the source of this glitch, we began to reverse any duplicate charges."
"Please know that we've corrected the issue related to our security software upgrade. As stated above, we're working with both our credit card processing company and the credit card issuers to identify and reverse duplicate charges. WE COMPLETED THIS PROCESS ON OCTOBER 19, 2007." I sent online mail to B of A but they refuse to reverse these charges. B of A does not provide customer service. If anyone has been successful with reversing overdraft fees, please advise. Thank you.