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Bank of America Complaints - Over Draft charges

Review all Bank of America complaints

Bank of America
Posted: 2008-07-20 by Dom [send email]
Over Draft charges
Complaint Rating: 0 % with 0 votes
Company information:
Bank of America
#1 Front Street
United States
Phone: 636.528.8256
bankofamerica.com

When you do an over draft Bank of American will reshuffle all the amount for the last 3 days by largest to the smallest, not by date. Then this will empty your acount quicker. I got 5 $35 overdraft charges all of the items were done the day before I the one I should have been charged for. On of them was $35 on a $2.00 charge.
Comments United States Banks
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Comments

30 days ago by Jennifer [send email]
Yes, they do use this practice. You may want to be aware because many banks are now moving towards this practice. It is in the terms of the account.

However, keep in mind that you can always avoid this by not over-drafting your account.
16 days ago by M K [send email]
Bank of America did the same to me..I checked my online balance and the balance at the ATM . I should have only been charged $35.00, instead they charged me $35.00 x 3. The 2 checks had already cleared my account according to the online statement and the atm...huge ripoff
12 days ago by Kris [send email]
BANK OF AMERICA SUCKS!

Here's the funny thing about all of you defending BOA!...You keep saying "Don't verdraft if you don't want fees.." HELLO?!?! We don't all intend to overdraft. I will repeat the above statement...THEY RUN THE WITHDRAWLS FROM HIGHEST TO LOWEST REGARDLESS OF THE TIME YOU MAKE THEM!!! I was unawar of this policy for a while and didn't figure it out until I actually overdrafted.

READ THIS FROM TOP TO BOTTOM AS IF THIS IS THE ORDER BY TIME OF HOW YOU SPENT YOUR MONEY IN A GIVEN DAY:
THIS IS YOU:
Lets say you have $100
You spend $11
You now have $89
You spend $60
You now have $29
You then deposit $50 you found in an old coat pocket
You now have $79
You spend $30
You have $49 left, and you are close to nothing, but ok with a balance...or so you thought...

THIS IS HOW BOA PROCESSES YOUR DAY:
BOA:
They start you with $100
They take away $60
You ahve $40 now
They take away $30
You have $10 now
They take away $11
Now you are -1.00
They deposit your $50 after the withdrawls
You are finally $49 positive...JUST KIDDING!
Now they throw on their $29.00 OD fee from the $1.00...three days later! and bring you down to $29. Now imagine all of this happening in one day while you are at work and you in your head think you have $49 and spend $30 on your way home...whoops, bounced again!

Imagine thinking like "YOU" but thinking that way for a whole weekend and imagine that total about $1200 before Rent, Car payments, insurance, gas, groceries, phone bills, etc...
NOW DO YOU SEE HOW PEOPLE UN-INTENTIONALLY OVERDRAFT?! It is not fair for banks to run your charges through by order from high to low to maximize their profits when you made your deposit before spending the rest of the money and deposited cash! The middle and working class are the victims. The people that barely get by are trapped and the ones that have lots of money, profit with interest which is paid for by our overdraft fees.
MY ADVICE:
SWITCH TO ANOTHER BANK or:
Stop using your debit cards! ATM's LIE! Cash can't lie!(unless it's fake)

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