Complaint Rating:

Company information:
Bank of America
United States
www.bankofamerica.com

This complaint post is for my daughter. She had 4 overdraft fees taken from her BoA account recently. The problem arises in she had transferred money from her savings into her checking (both BoA) on the weekend. All the transactions posted the same day, however, before the pending transactions went through, the overdraft fee was calculated putting her in the red. So, when the transfer posted the same day as the debits (I am sure the debits were first-all little amounts under $10), she incurred 3 more nsf fees. Now she is in the red with no way of putting anything in the account. If the first nsf had not been calculated with pending but not posted transactions, this domino effect would never have occurred. We filed complaints with the Federal Reserve (on their website), The FTC (from website), and the BBB about these practices. The Fed Reserve claims to investigate complaints. I do not know what they do if anything, but what the heck? Too bad they do not realize without customers, they have NO business! More corporations need to realize that the BIG accounts are not the biggest part of their business, but it's the "little guy" who keeps them running. In my biz, I would rather have 20 small accounts, than 2 Big accounts. I may go to a lawyer if we receive no satisfaction at the local branch. Or... perhaps we all need to ban together somehow and create a petition if it has not already been done.