Bank of America review: overdraft fees theft! 17

How about this... i signed up for a low balance warning, via e-mail... should i make an error with my accounting. I accidently omitted one check in my records, and ended up with an overdraft. Did they send me a low balance- overdraft warning on that same day, when it was possible to put some emergency funds in to the account and cover the check? Noooo... they send me the e-mail alerts a DAY AFTER the overdraft, along with the overdraft "fees" they are charging.
Some warning. Some alert. Thanks BOA.

I do agree somewhat with the gentleman on BOA practices. I have copies of my account when they were shuffling it around. From beginning to the end where they hit me for 245.00 in charges. However I didn't over spend. My account was not negative. By the time they got done I was. My husband and myself had been customers for years. I had even worked for them. When they did the same thing to him costing him over 200.00 we dropped the bank. considered taking them to court but just marked it up to lesson learned. Or we thought, now our current bank is showing signs of doing the same thing. Started to shuffle transactions around for a few days. Hasn't done them any good but seems they keep trying. I don't understand what the issue is with banks? Not making enough money?

Is this thread seriously still going? Holy crap.

I am posting everywhere I can to warn people about USAA and their horrible treatment of customers (members) - USAA Mortgage is run by mexican immigrants, I am totally convinced of that! Our VA Mortgage Processor, could not communicate well at all (and I think she cursed out my husband in Spanish) therefore, I will tell everyone I know AND the VA loan center about how Veterans and their families are treated.

I applied alnong with my husband for a VA Refinance a month ago. My husband is 100% disabked as a result if service in Afghanistan- a grenade exploded under him during a "sweep". He is a grunt, an infantryman and would die for his country- and he almost did! Anyway, our VA Processor kept telling us he has to pay the 3.3% funding fee. Then, she changed her mind and said no he did not. She refused to accept any paperwork from the VA with his rating. This incompetant [censored] mexican lady put us through hell and back! It finally came to the point that our lock expired not once but twice on us. Had we gone through with the USAA refinance, we would have had another half a percent tacked on to our rate.

I am thinking that this malicious treatment has to be criminal or fraud. I find it hard to believe that a fortune 500 organization would be so "politically correct" in its hiring to reflect the large mexican american population in TX without regard to skill or merit. I understand that they have a consumer reporter on KENS 5 in SA. I have contacted him and they will be airing an expose on USAA Mortgage Services in early Feb 2011.

I want to vomit when I think of the bad people there.

Eh, mixed reaction here. My friend is a banker for them, and the party line is: bigger transactions are usually more important. You'd rather your mortgage payment went through than your utility payments. You'd rather your utility payments went through before your shopping trip. You'd rather your shopping trip went through than your cheeseburger at mcdonalds. Or so the theory goes.

Still, it's fairly convenient that the policy they assume everyone wants is the policy that makes them the most overdraft fees. I think they're laughing all the way to the (wait for it) *bank* on this one.

Interesting factoid: Almost no bank will guarantee their ATM balances, but they WILL guarantee their ONLINE balances (IE at the website). Food for thought. I once overdrafted due to an ATM giving me a random fictitious number that neither I nor the bank's customer service reps nor any amount of addition, subtraction, or even duplication could explain based on my transactions. Did they refund the overdraft fee? Take a wild guess.

EASIEST SOLUTION: at least in the US, a recent federal regulation allows anybody to opt out of overdraft fees on ATM accounts. Just tell your bank you'd like to opt out. They have to let you, now.

Bigger risk of being stranded somewhere with no funds. But way less expensive in general.

Failing that, yes. Always expect every and all possible overdraft fee possible. The system is just designed that way. They just want your delicious, delicious money.

same thing happened to me, kind of, at Rockville Bank. i was loaning $500 to a friend, so i went to the atm, and transferred 500 from my savings to my checking and gave my friend the check a couple hours later. He goes to the bank and cashes it. It clears. i go about my day, charging random small things and the next day im way in the negative. The first bank teller refused to listen to me, simply said i must not have had the money, oh well. i asked to close my accounts and take all my money. she laughed and said i have no money, hence the overdraft fees. I Informed her of the tens of thousands i had in my savings. She flat out refused to give it to me. I was pretty furious, said a few things about her not being able to do simple math, stealing my money, she went to call the police. I left, went to another branch. this time, the teller actually listened to me. i had all of my receipts, most importantly, the atm transfer of $500, with the time on it. Apparently in their system, all funds are calculated at the end of the day in order of highest dollar amt first, withdrawls prevailing. this stupid way of processing screwed everthing up and when they took all of my receipts with the time and figured them out, in order, i had no overdrafts(they had charged over $200 in overdraft fees). they refunded my money. soo.. moral of the story is keep all of your reciepts, computers can be wrong too.

BOA does suck, any company that has your business and sees you regularly make deposits and withdrawals should have some customer service. I can add, I can subtract. But I'm human and make mistakes, I placed my normal weekly paycheck in the bank as usual, and use a bank receipt book to write down my withdrawals. What I didn't realize was it was a holiday weekend and the line was so long my deposit was made at 2:09pm. I knew I put the money in and when that weekend came I used my debit card like normal, eleven different times. Not only did BOA take the largest sum out first when it wasn't purchased first, the slamed me with ten overdrafts. My issue with this is that I am a good customer with multiple accounts and credit cards. I'm a nurse and work hard and take care of people. I tried to explain that my deposit came like always every Friday, but I was just late in depositing it by ten minutes! I agreed to pay some kind of fee but $350 was ridiculous when I have no history of overdrafts and it was a simple mistake of minutes. NO ONE cared, not anyone I talked to, or the bank manger himself when I talked to him really upset that I was a good customer and could not afford that much in fees. I am responsible and hard working. People who abuse the system yes should be given fees, but in my case and in others BOA is taking advantage. I would have paid a fee as it was my mistake but not intentional. But BOA has a system where if yourcomplaint has already been seen by someone, another employee cannot help you with that matter as it is greyed out and blocked. So the bank manager agreed to help me looked on the computer and sadly informed me he could not open my complaint as it was already reviewed by someone else an online rep who was a ### btw. I told the manager I was not paying that much for fees, I was sorry but it was ridiculous! He told me that he would have to close my account and I would still owe them and be reported to chexsystems and other banks would not want my business. I told him I was crossing the street and opening a new account with the credit union immediately, which I did. I do understand mt mistake and I don't mind a small fee to discourage me to not do it again, but their way of business is not for the customer at all. I am not a ### and I'm 9 minutes late on a weekly $$$. I live in ny and nurses pay well, so it wasn't a 200 check, it was 800+ like usual every week. I'm human and make mistakes but I shouldn't be slammed for them, especially I've no history of this. Booo BOA.

Assessed $420 in late fees and charges with Bank of America because money was not in the account we thought it was. It was 2 weeks before we were notified. The money was there, just in another account. A period of time has passed about a month since we became one of the thousands of victims of the Bank of America scam whereby permitting charges to go thru on a debit card, knowing full well the money was not there. In fact BoA received 420.00 of our money in charges. We are long term customers have 2 mortgages with this bank and made a very simple error one that is easy to make. we have several accounts and made a deposit of 1200.00 in the wrong checking account. It took about 2 weeks before we were notified that there was no money in that account. Late fees & other charges were assessed to the tune of 420. Husband went to the local branch, where we thought we had a good relationship with manager and other employees. Unbeknownst to us, the 1200 that we deposited went into the wrong account – one of our other accounts and not the account where we were using the debit card. Of course, after many phone calls no one can do anything. It seems as if Bank of America is rubbing their grubby little hands together, saying we got another one.
We will be closing out all accounts, but one. We have to wait 6 months before we can move the mortgage that we got in May. Another HORROR STORY as a customer of Bank of America. It will be 2 months before a credit union or another bank can do the 1st mortgage, but it will happen.
I wish we could have been involved in the class action lawsuit again this company. Bank of America knew full well what they were doing and for years got away with it.

I have had the same thing happen. I had the correct amount of money in the account, but for some reason they held on to money I deposited a FEW DAYS before I had gotten a large charge and two small charges. They approved the charges ON THE NEXT DAY but HELD my deposit longer and then charged me three overdraft fees. I called and complained, they said it wasn't thier fault it took longer for the deposit to go through than the charges. Really? I call B.S.! Also, on thier credit cards, they have NO GRACE PERIOD. I was ONE DAY LATE on making a payment to my credit card, they charged me a late fee! ONE DAY LATE! Nice, very f-ing nice. I'm trying to find a new bank out here, which is proving near impossible to transfer my credit card balance because my asset to debt ratio isn't high enough, even though my credit report previously stated I have always paid and paid on time. Thanks to Bank of America and they're B.S. it no longer states that. There following the path of WaMu. I can't wait until they go down.

good old bank of america, i have the same problem, i found if you are going to spend money, figure how much you need and go to a bank of america atm machine, no charge for their customers, i found if you call their [protected] number get your balance and check all activiety, you will hear that eveything you used the card for has been processed, so you feel your ok and you know how far you can go with the card.thats what i did, i got to the point my balance was only 6.51, thats sad i know, but this was 6 days until our next direct deposit.but we never used the card at all, the day of the direct deposit, i called the 800 number and found they added charges to my account for using my card, 6 days not using the card and all transactions went thru and i was safe.the bank says even though the transactions showed it their peroughative when to take their card charges, well im sorry, but 35.00 a clip hurts, and they do plan this, its called GREED.the best part of the story, they say mr obama we need help.the government gives them billions, a helping hand, and i know they paid it back, but if your in a jam and you tell them hey i need help, they dont care, they lick their lips and watch your account so they can rape you out of all they can get, how many people need help, but we arent the highh class so no one wants to help us.god bless all of us that need help of any kind, and i ask the lord to let someone realise how greed has fogged bank of america's idea of customers,

BOA Credit Card keeps taking my full CC balance from my checking account balance to pay off my full balance on my credit card (even if the money isn't there). I switched to minimum payment over the phone and they did it again! The second time I recorded the phone call (notified them as well that the call was being recorded) and they stated that they would reimburse my account... But they never did. We are talking about a $5, 000 dollar unauthorized ACH. They have a done it twice and it has over drawn my checking account to pay the credit card account.

http://www.gregorygarver.com/boa-credit-card-rip-off.html

Byra: BOA Banking
Veronica: BOA Credit Card

I have banked with Bank of America for years and they are pretty good; however their credit card department is awful in my opinion. It has been over a week and they have not returned my money. I was forced to file an unauthorized ACH. Next step is court...

I think all banks have a system to get as many overdraft fees as possible especially in this economy because soon the law will be passed where you can opt-out of overdrafts and you can simply get your card denied if you don't have the funds in the account.
If it were simply people's adding and subtracting problems then there wouldn't be laws like this being passed and chances to opt out.
It has a lot more than you think to do with timing. For example the bank takes days or weeks to clear your check that you might even forget about by then and then it comes out at the most inconvienient time.
Bank accounts aren't for all people, specifically for people who don't have a large sum of money in there at all times where they won't run the risk of running out of money.

BOA Does suck they Charged My Wife and I $537.62 for being overdrawn by $0.52. I am not kidding. My Wife and I said F*** BOA We went to a Credit union instead. We Called BOA about the Overdraft Fees, We got told " Well it was because of the $0.52 that we charged you the $537.62 so deal with it. After We Left BOA and Joined the Credit Union, BOA has Lost our Car loan, Mortgage, Credit Cards, My Business Account, My Friends and Families Account.. And Guess what We are not going to pay them the $537.62, let them send it to collections and try to put a judgement on it, We will tell the Judge that it was because of $0.52. This took place a year ago.

I'm pretty sure you're mildly psychotic, BofA.

Yes overdraft fees are taken automatically but, BOA has and still does make it a practice of "shuffling" your transactions so they benefit via overdraft fees. i.e. if you have a $500.00 balance in your account and then make several purchases $20.00, $50.00, $200.00 and $600.00 in that order BOA's system will actually "shuffle" the transactions so the $600.00 goes through first giving you an overdraft fee for each of the transactions instead of processing them in the order you made them which would have only given you a one time fee for $35 instead of $140.00 for four transactions. They paid out $35million dollars in 2009 for a class action lawsuit for FRAUD! that was brought against them for that very practice.

Yeah, overdraft fees are taken automatically when you overdraw your account. It's not like there's some person arbitrarily deciding who to take more money from. You made some mathematical errors in your accounting. It's your own fault.

Simple, UNHAPPY with Bank of America? CHANGE your Bank! Theres always an Option...we're in USA, land of the Free! Freedom to Choose!