The most trusted and popular consumer complaints website
Explore your opportunities! Create an account or Sign In

Bank Of America / outrageous fees

1 GA, United States Review updated:

I have repeatedly been screwed over by boa. Their website is great... As long as you want to track how many overdraft fees you will receive!

They have a tendency to do two things 1) they will credit your account as little as legally possible ($100 until the check clears, even though the checking rules after 9/11 made checks clear almost immediately, although they can wait 7-10 business days to have it clear). And 2) wait for all that overdraft money to flow in. Your online statement will read something like this by date (Day 1) $700 paycheck pending, (Day 2) $200 on groceries pending, (Day 3) $200 on bills pending, (Day 4) $100 on car repairs pending, (Day 5) $100 on doctor bills, and (Day 6) $100 in cash. Guess what boa does? Sorry, but your paycheck didn't clear until they could rack up all those overdraft fees, so it's $35x6=$210. And that's just quick math for it. I've had more than a few overdraft charges because they dragged their feet with my paychecks. How can they really charge a person a $35 overdraft fee over a coke and a bag of chips?

I find this type of banking quite disgusting and prefer local banks. I'd rather pay the few dollars to get money at an atm than $35 for overdraft fees. It is absolutely ridiculous.

Sort by: UpDate | Rating


  • Ic
      24th of Sep, 2009
    0 Votes

    I am going through something similar. Except I deposited cash which post automactially to the account. They advised me they charged my account because I had more charges waiting to go through the account than I had in my account. Example
    odf = over draft fee
    Date Deposit Balance Hold Went though Balance Hold
    9/15 100 125 - 75 25 50
    9/16 100 125 50 -50 50
    9/17 50 0 -35 odf 9/15 15 0
    9/18 15 40 - 40pd -65 0
    9/19 -65 0 -35odf 9/18 -100
    On 9/15 I had enough in the account to cover the 75.00 that went through the account. I was charge because the amount waiting to go into my account was more than the 100 in my account. If they would not have charged my account I would not have had any transactions bounce. The bank issued me a credit of 35.00 that should have back dated to the 17th. It didn't so the other overdrafts still occurred. This is legal theft of money. Does any know what the laws are regarding when the bank can charge overdraft fees?

Post your comment