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Bank Of America / robbing folks with nsf fees!

1 United States Review updated:

Bank of America is in the business of robbing people. Their rules constantly change to benefit their pockets and there is no consistency from one rep to another. In the past year, they have managed to rob me of over $900 of my hard earned money. I only know this figure because it was thrown in my face today by a so-called customer service manager that I’m doing a poor job of managing my finances. Never mind the fact that I'm a single mom and a business owner trying to keep my head above water in the mortgage industry. I have been monitoring my account on-line constantly to prevent this from happening, and no one could offer me an explanation, all I know is that in 5 minutes I racked up $210 in overdraft fees for $30 worth of transactions. When I questioned why they process transactions from biggest to smallest instead of in the order they are presented, I was told that this was intended to benefit the consumer so the most important items are paid. OK, so if I have a $100 light bill and I go on a shopping spree for $110, how is it more important to pay the shopping spree first? They have no method as to how long credit transactions and debits show as pending before that money is out back into your balance. All they can tell you is to write down every time you use your card, and do not rely on the online banking as a ledger. I may be wrong, but I thought debit cards were created as a convenience to the consumer, and on-line accounts were an added convenience. If I have to write down each time I use my debit card, wouldn't it be easier to write checks and have carbon copes so I can transfer it to a ledger when I have time? Their customer service reps are rude and have no clue what they are talking about. They just love to point out that it's your fault and they stick together like glue no matter how wrong they are. Bank of America is definitely an institution with no heart. They are extorting millions of Americans and they have absolutely no remorse whatsoever. If anyone knows of a class action lawsuit against them, I would love to voice my opinions. I'm not usually a vengeful person, but I can't wait for the day when they get what they have coming to them.

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  • Ha
      18th of Jun, 2008
    0 Votes

    I agree completely about BOA,
    They do all they possibly can to INSURE that you overdraft & when you actually do, They handle it in the way that racks up the most fees possible AND THEN have the testicular fortitude to actually call this a courtesy!
    And what annoys me to no end is that there is no way to opt out of this,
    I have a thread at [redacted], search for the word (fleecing) regarding bank of america

  • El
      14th of Aug, 2008
    0 Votes

    I TOTALLY agree with you!! I am currently researching the legality of these charges. Although all I have read so far is it is legal, my sister (who is a lawyer) and I are looking into this matter to possibly initiate a class action lawsuit. I believe it is "legal" because not enough people have challenged it in a class action lawsuit. Sure we hear complaints left and right, but until it is challenged in the courts it will remain legal. (Let me note I have not done extensive research so if any of you know of any class action lawsuits that have failed regarding this matter, please let me know!)

    So far what I have found is NationsBank (which is essentially Bank of America before they merged) had a class action lawsuit put against them regarding these overdraft fees in which it settled paying out $9mil to the the complainants. Although they admitted no fault, and did not change their policies, I believe if enough people take it all the way and not settle for a payout these excessive Overdrafts fees will become illegal!

    My situation is: I was charged with 7 overdraft fees. But their process is to "clear all the larger amounts charged first" not the way it should be, which is in the order you charged it. If they did follow a policy of clearing transactions in the order you charged it, I would have only incurred 1 overdraft fee.

    My boyfriend went through something similar, however, they persuaded him into opening a credit card which gave him overdraft protection and they refunded ALL of his over draft fees, even the ones he incurred the 2 months before the credit card was opened. I believe you shouldn't have to negotiate refunding of overdrafts fees by showing your willingness to open a credit card with them!

    I am a full time college student and work full time. I pay for my own rent, all my bills, and tuition w/out the benefit of help from my parents. I have no debt, but I still cannot afford to pay 7 overdraft fees in the amount of $25 each! That's $175 WASTED! That amount would pay my cable, cell phone, internet, and groceries for 2 weeks (Sorry if I sound whiny or like I am complaining) but it's very frustrating!

    Bank of America has offered to refund 4 of the overdraft fees if I make a deposit of $125, then I can call them and they will bring the account out of a negative balance, but I am still refusing! I will not pay more than 1 overdraft fee!

  • Ha
      22nd of Aug, 2008
    0 Votes

    $25 ?? Last time I got an OD fee it was $35 BTW I hear the feds are forming legislation that will curb this kind of fleecing, So It is possible that help is on the way, BUT don't think for a second that the banks in all their greed wont find new and even more creative ways to screw us.

  • Ki
      23rd of Aug, 2008
    0 Votes

    My husband and I have also experience the same thing with overdraft fees. They minused us out numerous times totaling in one year thousands we almost lost our buisness because of this. I depend on banking on line to keep me up to date and it changed constantly on the dates of how they were used. They of coarse blamed us for not subtracting properly. I could not keep a register book, my accountant was lost looking at it. One of our customers paid with a check from the wrong account by mistake and it was a bank of am. account and it bounced and the bank let it ride for 7 days w/o telling us and allowed us to keep debiting from our account never posting anything online that the check was no good then charged us over 900.00 in fees as well as our customer. They should have notified us upon depositing the check that it was no good, since it was a bank of am. check to begin with. Also, they do nothing to stop or decline your card when you go in the minus, they just keep allowing you to debt. Now the only protection we had was that if a merchant tries to swipe the card more then 2 times they lock your account, well this left my husband stuck 500 miles from home trying to get home and it was after bank hours and we were told we had to wait till monday to take care of this. I do not see how this has protected us, thank god it was not me with my 10 month old and 2 year old that far from home. Although it did when I needed gas my children and I were stuck for a bit till we were brought money to the gas station. Of coarse we are no longer with this bank, and they did manage to steal thousands of dollars from us over 1 year. We are a small family owned buisness and work hard for our money. I say shame on them, they will go belly up for what they have done to all those current and past customers. I am amased at all the comments I have read about over draft fees, I thought we were alone in this, but so many have been taken advantage of by those CROOKS called bank of am. We are trying to recover but our only option may be to claim bankrupsy because of them. They are still calling 3-4 times a day asking us to pay the fees placed on the account, now I think they owe me and we are getting a lawyer to stop them from filing negatives to our credit report and collection agencies.

  • Ma
      3rd of Sep, 2008
    0 Votes

    9/3/08 - I'm going through the same issues with bank of america. I'm trying to find out if there is a class action suit against them! They are rotten to the core.

  • Mo
      4th of Oct, 2008
    0 Votes

    'This is why they want to know if you are going to make a lot of transactions when you open up a free banking account. I feel for you. I thought these banks where targeting poor vulnerable people who don't keep a lot of money in their accounts with this NSF mess. I can see how they got you . I feel for you honey. When and how is this going to be stopped? This is getting out of hand. All the banks are jumping on the bandwagon. So it is not even safe to go to another bank!!!

  • Sh
      11th of Oct, 2008
    0 Votes

    I have been going through this NSF mess with BofA for over 6 months now. They have taken my wife and I for well over $1000 in NSF fees do to the way they manipulate the posting of transactions. The most recent issue had to deal with BofA charging me for 6 NSFs on transactions that had already cleared (Posted) to my account according to the on-line system. BofA claims that a larger charge made days after the 6 caused my account to temporally go negative before the 6 transactions officaly posted. The negative was so temporary that it does not show up on my account transaction history. They gave me the typical story to keep written spending records and not to depend on the on-line system for keeping track of my account. Completely frustrated, I finally went into my local branch and talked to the branch manager. She just shook her head and said NSFs are one of BofA's biggest sources of revenue and all she does is field complaints from frustrated customers. She agreed with my claim and is working with me to refund the 6 NSFs. As soon as I can, I am moving my accounts to my local credit union. BofA is a bunch of greedy crooks taking advantage of busy people that are "so called" greeting convenience from their on-line banking solutions. Only one getting convenience is BofA dipping their hands into my account with fraudulent NSF transactions.

    If there is a current class action lawsuit, I would be happy to join in.

  • Wi
      27th of Jan, 2009
    +1 Votes

    So, it's not just me...

    I was charged with 9 NSF fees, at $35.00 EACH! At the time the fees were posted, I had a POSITIVE balance. I spent 2 1/2 hours at my local branch in Lakewood, CA trying to figure this out. The rep and I both could find no reason for 8 of the charges, so he went to refund them. However, the "system" would not allow him to credit the account. I am currently overdrawn by $315.76!!! That's 2 weeks worth of groceries and gas! If the system processed transactions in the order in which they were received, and not "largest to smallest", I should have only been overdrawn by $0.76 cents; which supposedly "they don't charge an NSF fee for". I closed out this account once before, and now I regret re-opening it.

    If anyone has any information regarding a class action suit, I would be more than willing to join. Maybe we can FINALLY stick it to these ###!

  • Je
      5th of Feb, 2009
    0 Votes

    Bank of America charged me thousands in overdraft fees even when I had thousands in my savings account. The best way to fight this is to close your accounts, refuse to do anymore business with them and find a reputable bank to do business with. I'm happy to say I don't bank with them anymore. If enough people and businesses do this, that would hurt them more than any class action lawsuit.

    There is a class action settlement underway against Bank of America. The deadline to sign up is May 1, 2009. You can sign up at: The settlement cap per account is 78.00, but it's better than nothing. It would be great to see this bloodsucking bank fail, but I doubt that would happen. The federal government would rush in to bail them out with our taxpayer money!

  • To
      28th of Feb, 2009
    +1 Votes

    I am from the Atlanta, GA area, and I have been with Bank of America for a little over 7 years now. I did my research and it was, at the time, the most repitable and most accessible bank in the city. I have NEVER been so wrong and disappointed. I am a single parent living basically from check to check. Therefore, I am counting every dime. I go over my account daily in an attempt to assure NSF fess are not charged to my account erroniously. You would not believe how much I have paid over the years in NSF fees to this bank. There has been times when my whole pay check has been taken to cover NSF fess. I am pleading for someone to offer any suggestions on how I can try to recover monies I am due from this bank. Calling to try to work out the mistakes is like pulling teeth. The bank has no interest, what so ever, in refunding monies taken from my account. I knew it was time for a change, so I recently opened and account at Regions Bank. I am tranferring what little cash I have and will NEVER go back to do business with Bank of America.

  • Ch
      11th of May, 2009
    +1 Votes

    Same thing happened to me countless times. They changed the order that the charges happened within 3-4 days making sure the higher payments hit the account first, resulting in hundreds in NSF fees. Both me and my wife closed our accounts with them and and now bank with Citi Bank. Citi is a much better bank, they don't close your balance after every transaction like BoA does, instead they do an end of day balance which is much better to prevent NSF fees.

    We kept our credit cards with Bank of America and this month I found their newest scam. We paid our bills online using our Citi bank account. I always schedule the payments to be paid 1 day before the due date and it always worked great that way, even to pay our BoA credit cards. This month I found out that Bank of America charged both of our credit cards a late fee payment. Both bill were due on the 25 and it were paid on the 24 but Bank of America didn't accept the online payment's untill the 28 in order to charge us late fees.

    Bottom line is, stay away from bank of america, they are always looking for a way to rob their customers.

  • Md
      30th of Jul, 2009
    0 Votes

    I strongly agree. I just got charged $320 for 9 transactions that amounted to approximately $25 in items. I AM FURIOUS and cannot believe that they can rob their customers like this! I just noticed that there was a class action lawsuit against BofA, but the deadline to enter was May 1st. If anybody knows of any other avenues to sue these people, please let me know. This is absolutely ludicrous!

  • Ja
      16th of Aug, 2009
    0 Votes

    They completely destroyed my accounts by associating an account that I filed a claim on and avoided in proceeding in completing the claim and had to refile. They advised me that I could only file claims for the past 60 days and would not listen. They emptied my savings and applied it to the account that I filed the claim on several times and never did one thing to resolve the claim. They absolutely are the worst and not only did they steal from me, as this was my only income that I receive from the V.A. as this is my military disability pay. For over 3 months they have had my account all messed up but they have left me broke for over 3 months. I could only save myself from this by canceling my auto deposit. Otherwise they would of continued to charge overdrafts even though I had no other alternative but to close my accounts.

  • De
      8th of Sep, 2009
    0 Votes

    I have been a client with Bank of America for years and this new so called draft portection is a scam. I do not have it however my son does and a rep told him he had enough money in his account to cover his expenses and he assured him three times it is all your money no worries and then hit him with 5 overdrafts totalling 175.00 now the kid can barly pay his bills as it is and an additional 175.00 for nothing is insane. How do these people sleep at night this is not a service it is a racket that needs to be stopped. I closed my credit card accounts when I heard what they did to a Senior Citizen who could only afford a 6.00 lunch from the local grocrery store and later was hit with a 35.00 overdraft fee. I was livid and cut the cards now with what they did to my son I am closing my checking account with them ASAP they don't deserve to be in business. I don't understand why the Attorney General has not gotten this undercontrol or the Comptroller of Currency maybe if more people would complain to them it would help stop this.

  • Te
      1st of Dec, 2009
    0 Votes

    This bank is a rip off for sure! I am happy to say I am BOA free now! Shut this bank down!! Stop doing business with them!! They don't deserve the American's money to support there evil ways!! You will never get my money again BOA!! Never!!

  • Ma
      10th of Dec, 2009
    0 Votes

    I agree big husband and I have been on the phone with the "customer service" people 8 times in the last two days..We get something different from each person we talk to and one told him he should have "assumed" a check card couldn't be set up the way he was told from the Bank Rep. We should know when they are lying to us? I now have $175.00 in overdraft fees (which was our food money for the next two weeks) because the rep lied.
    I spoke to a "supervisor" that sent an email to the person who set up the account now it goes back to her..of course she isn't going to tell them she told my husband the card was connected to both accounts and the charge would be taken out of the account with the funds in it..I explained to the "supervisor" that if my husband wasn't told that it was set up to be taken out of either account then I would have just did a transfer from the account with the money to the one the card was taking the money out of..I am not a stupid person. My husband who has had a stroke a year ago is really having a problem with being told he is lying. We shall see if the bank corrects this problem but my guess is we will go hungry for the next two weeks. I will be changing banks as soon as I can but it looks like on all the sites I have been to the problem is the same in all banks what is our answer?

  • Da
      26th of Dec, 2009
    0 Votes

    Info please: We paid in over $900.00 in escrow account with Bank of America and they took it saying we didn't have insurance on our home which was a lie because we paid for a FULL YEAR on our insurance!!

    My husband called them and told them he wasn't paying them another dime till they put that money back.

    Now for 2 months we have not gotten a house payment billing statement, nor our escrow account amount that is empty.

    Does anyone know an attorney????

    By the way : Bank of America is Obama's Bank.

    contact me at :

  • Jo
      8th of Jan, 2010
    0 Votes

    Gosh, I just got NSF charges THREE times, for $35 each. And you guys were right - they purposefully processed the biggest charge first. Otherwise I would have been charged just one time.
    We need to do something about this. I've been banked with them for many years and thought they're great to do business with, but from my last conversation with a customer service rep and his supervisor I came to a totally different conclusion. Rip Off!!

  • Md
      15th of Mar, 2010
    0 Votes

    I agree! I personally was just charged over $350 in NSF fees recently. Some of the charges were charged an NSF fee on an NSF fee. Which took me further into the red. It is bogus and unfair. I HATE Bank of America and have been with them over 10 years. When I went into the bank to speak with a personal banker, he was at least able to refund $180 of that amt. but I still had to pay close to $200 in NSF fees. I don't know what basis they used to refund at least that amt. Absolutely ludicrous!

  • Ja
      16th of Mar, 2010
    0 Votes

    They have a serious scam running and can not believe that the government does not get involved. I guess we know who's pockets are being filled. It's a shame that this wonderful country that we love so much has to be fouled and bad mouthed by a Bank that has the word AMERICA in it.

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