Bank Of America / check processing
Agatha: hello! Thank you for being a valued bank of america customer! My name is agatha. May I have your full name and the last 4 digits of your account you are referring to?
Agatha: thank you for the information, _.
Agatha: how may I help you with your personal checking and savings accounts?
Agatha: are you still with me? Please respond so I can leave this chat window open to an answer any questions for you.
You: my checking account is overdrawn because the online banking system didn't give me a correct account of what was occuring. My gi benefits from the military was deposited into the account on the 6th around midnight...
Agatha: I understand your concern regarding the account balance.
You: and the online banking system told me I had around $720
You: this led me to believe that I could proceed with making purchases.
You: I made sure to keep money in my account because I knew that my cell bill would be processed the next day...
You: I mean before the 5th.
Agatha: thank you for your patience. I really appreciate it.
Agatha: I have reviewed your account.
You: I checked the account throughout the day on the 5th and the check I gave to my landlord earlier in the morning hadn't been processed...
Agatha: I see that the available balance in your account is overdrawn by $30.82.
You: today I was in the grocery store to buy food and it said I had insufficient funds, so I checked my online statement and the information had changed from what it was on the 5th and 6th...
Agatha: I see that the check number 139 for $447.00 was posted to the account.
You: I really don't know what happened because the check must not have processed on the 5th but on the 6th.
You: the funds to cover that check wasn't deposited into their account until the 6th, so I do not understand why I have an overdraft fee.
Agatha: yes, but whenever the payee presents the check we will pay the amount.
Agatha: this check for $447.00 overdrew your account and a overdraft fee was charged.
Agatha: the date on a check is for your reference.
Agatha: the payee of a check is not required to hold the item until after the date on the check. When you sign the check, you agree to pay the amount written on the check.
You: so why wasn't the money withdrawn from my account on the 5th and posted so I knew where I was financially?
You: it appears to me that the online banking system duped me into believing something false.
Agatha: I do understand your point.
Agatha: please note that if a check dated in the future, otherwise known as a post-dated check, is presented for payment, we may pay the check and charge it to your account even if it is presented for payment before its date.
Agatha: however, if you do write a post-dated check, it is only an agreement between you and the payee.
Agatha: by federal law, banks within the united states may process post-dated checks once they are presented for payment.
You: the money for the check remained in my account until the 6th and wasn't withdrawn from it until the 6th or midnight of the 7th right?
You: the $447 check was written on the 5th and given to my landlord that morning...
You: I really am in a bind here and would greatly appreciate a refund of that fee...
You: until I receive my financial aid I will not have money to eat.
Agatha: one moment please.
Agatha: I do understand your point.
Agatha: would you like me to explain how the fee was charged?
You: I guess...
Agatha: one moment please.
You: electronically speaking, isn't the check manually typed into your system for removal from my account but it is not physically removed until processed... Which occurs the next day?
Agatha: the funds will be debited from the account when the check is presented for payment.
Agatha: we do accepts stale or post dated checks.
You: but the online banking system didn't notify me of it.
Agatha: thank you for waiting. I'll be with you in just a moment.
You: isn't the check like a credit or debit transaction that posts to the the account to give an average of what is available, but it is not really taken out until the computers have updated the next day.
Agatha: we process all the transactions during the overnight processing, first the credits will post then, the debits will post to the account and all the updated transactions will post to the account on the next business day by 6 a. M.
Agatha: however, saturday and sunday being the non-business days, the overnight processing will not occur and the deposit will be considered as made on the next business day i. E., monday. Hence, the deposit will be processed during the monday's overnight processing and the funds will post to the account on the next business day by 6 a. M.
You: yes, but my gi benefits were posted to my account on midnight of the 6th.
Agatha: let me please explain this to you.
Agatha: our records show that the starting balance in your account on 1/5/11 was $38.88.
Agatha: there were 3 transaction that posted to your account which are $447.00 which is check 139, $5.00 and $1.00.
Agatha: the transaction for $447.00 overdrew your account and an overdraft fee fee was charged.
You: hypothetically speaking, if I made a credit or debit purchase for $40 then I would be in the negative, but if I put money in the atm to put me in the positive I wouldn't be charged a fee for being in the negative for a few hours?
Agatha: I see that the credit of $687.00 posted to your account on 1/6/11.
You: yes, I checked it that night on the 5th, I mean 12:30 a. M. Of the 6th, and it was in my account.
Agatha: we apply direct deposits as they are received throughout the day.
Agatha: the funds are made available on the effective date.
Agatha: this date is decided by the company that is sending your direct deposit and is reflected on the documentation that you received from the company.
Agatha: please note that making a deposit or transfer after items have overdrawn your account will not prevent the items from being returned as unpaid or fees being assessed.
Agatha: the funds must be in the account before items are presented in order to avoid overdraft fees.
Agatha: hope, I am clear with you.
You: so what if my landlord's paperwork says the money was deposited into their account on the 6th?
Agatha: it depends on the financial institution of the land lord's account.
Agatha: I am unable to comment on it
You: so if I can prove that their institution received the money on the 6th will you guys please refund me the $35 feee?
Agatha: I see that the fee was charged correctly, so we are unable to refund any fee.
You: goodbye bank of america.
Agatha: is there anything else I may have pleasure to assist you today?
You: lol, no but thanks anyways.
Agatha: thank you for choosing bank of america's text chat service!
Agatha: bye. Have a great night.
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