Bank Of America / nsf charges for pending transactions

TX, US Review updated:

I contacted Bank of America by phone today to find out why they had charged me (4) 35.00 overdraft fees. I show that my account was still had 8.00 in it when they began charging me these fees. Granted I have been with Bank of America for over 7 year and they have never done this type of thing before. I contacted the [protected] and spoke with Ishamela who was very nice but proceeded to tell me that three of the overdraft fees that they charged were for a pending transaction of 28.00 that did not clear until 8/3/09. They processed the fees on 7/31/09. Keep in mind, I receive my direct deposit 8/1/09 from the State of Texas - actually BOA receives my direct deposit on 7/30 but they hold it until 8/1/09. She stated they do that for pending transactions now. If this is policy for BOA, WHY ARE THEIR CUSTOMERS NOT INFORMED OF THIS INFORMATION. How can they change policy about MY funds and MY account without informing THEIR "valued" customer of the changes? I told her that they are stealing money from their customers when they do that. How are you going to charge a fee for a transaction that is pending and has not yet been cleared thru the bank?? She stated there was nothing she could do about it. I then went online and talked to an online rep. I do not remember his name but the supervisor stated his name was Sam. He then told me that this is their practice and they will not do anything about it. When I asked for a corporate number he stated they don’t have a number just an address. This is ridiculous. I am being penalized for pending transactions. They took a total of 140.00 from my account and 135.00 of that was for a transaction that had not even cleared the bank. I have never been treated like this before. They didn’t even try to satisfy a "valued" customer as they stated when they pull up my information on both the phone and the internet. They just stated what they were not going to do and moved on from that point. All of this took place 8/6/09. I tried to contact them 8/1/09 and the line was so busy I couldn’t get thru. I work 8-5 with the state. It is difficult to find time to do what needs to be done. I am outraged that banks are pleading with the government for funds and ripping off the people who trust them to take care of their money. I will be sending this information to every possible consumer and agency to try to get this resolved. It is obvious that Bank of America doesn’t care. I pray that you all do. Thank you.

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  • Ed
      Aug 19, 2009

    Same thing just happened to me. Does anyone know when this practice began? I used to be able to beat the pending charges with a deposit to cover the funds before they actually posted to the account. Do other banks have the same practice?

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