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

Bank Of America / over draft charges

1 #1 Front StreetTroy, United States Review updated:
Contact information:
Phone: 636.528.8256

When you do an over draft Bank of American will reshuffle all the amount for the last 3 days by largest to the smallest, not by date. Then this will empty your acount quicker. I got 5 $35 overdraft charges all of the items were done the day before I the one I should have been charged for. On of them was $35 on a $2.00 charge.

Do
Sort by: UpDate | Rating

Comments

  • Je
      21st of Jul, 2008
    0 Votes

    Yes, they do use this practice. You may want to be aware because many banks are now moving towards this practice. It is in the terms of the account.

    However, keep in mind that you can always avoid this by not over-drafting your account.

  • Mk
      5th of Aug, 2008
    0 Votes

    Bank of America did the same to me..I checked my online balance and the balance at the ATM . I should have only been charged $35.00, instead they charged me $35.00 x 3. The 2 checks had already cleared my account according to the online statement and the atm...huge ripoff

  • An
      9th of Aug, 2008
    0 Votes

    BANK OF AMERICA SUCKS!

    Here's the funny thing about all of you defending BOA!...You keep saying "Don't verdraft if you don't want fees.." HELLO?!?! We don't all intend to overdraft. I will repeat the above statement...THEY RUN THE WITHDRAWLS FROM HIGHEST TO LOWEST REGARDLESS OF THE TIME YOU MAKE THEM!!! I was unawar of this policy for a while and didn't figure it out until I actually overdrafted.

    READ THIS FROM TOP TO BOTTOM AS IF THIS IS THE ORDER BY TIME OF HOW YOU SPENT YOUR MONEY IN A GIVEN DAY:
    THIS IS YOU:
    Lets say you have $100
    You spend $11
    You now have $89
    You spend $60
    You now have $29
    You then deposit $50 you found in an old coat pocket
    You now have $79
    You spend $30
    You have $49 left, and you are close to nothing, but ok with a balance...or so you thought...

    THIS IS HOW BOA PROCESSES YOUR DAY:
    BOA:
    They start you with $100
    They take away $60
    You ahve $40 now
    They take away $30
    You have $10 now
    They take away $11
    Now you are -1.00
    They deposit your $50 after the withdrawls
    You are finally $49 positive...JUST KIDDING!
    Now they throw on their $29.00 OD fee from the $1.00...three days later! and bring you down to $29. Now imagine all of this happening in one day while you are at work and you in your head think you have $49 and spend $30 on your way home...whoops, bounced again!

    Imagine thinking like "YOU" but thinking that way for a whole weekend and imagine that total about $1200 before Rent, Car payments, insurance, gas, groceries, phone bills, etc...
    NOW DO YOU SEE HOW PEOPLE UN-INTENTIONALLY OVERDRAFT?! It is not fair for banks to run your charges through by order from high to low to maximize their profits when you made your deposit before spending the rest of the money and deposited cash! The middle and working class are the victims. The people that barely get by are trapped and the ones that have lots of money, profit with interest which is paid for by our overdraft fees.
    MY ADVICE:
    SWITCH TO ANOTHER BANK or:
    Stop using your debit cards! ATM's LIE! Cash can't lie!(unless it's fake)

  • To
      9th of Sep, 2008
    0 Votes

    Yesterday we were notified online that we were in an overdraft status. We immedately add enough cash to cancel charges. Last night a direct deposit was added, giving us an even greated balance. Everything was fine this morning and a couple more items were added with no problems.
    After 2 pm we were notifies that we were again iin over draft status. The strange part is items appearing yesterday as pending and having already beed deducted from our account. suddenly reappears today as beiing deducted from our accound again. We tried to point this out to the bank rep. that they have deducted the same charges times 2. all she can tell me is that there's nothing she can do and that the charges will stay in place. So now not only am I complaining here but we are also changing banks. We've been with Bank of America for 20 years and often have found and reported these same practices before. It is my belief that over those 20 years they have probably erroneously taken several thousands of dollars from us.
    I'm a retired nurse trying to live on SS and this bank wants to eat me alive. I may be small time to them but their not the only bank in town.
    A few years ago they had to pay a large fine but it was small potatoes to us. And now it appears that their doing the same thing again. An ybody want to start a classaction suit, lol.

  • Ti
      11th of Sep, 2008
    0 Votes

    OMG! i just switched banks from them! they did the exact thing to me. just because they think they're this big well known bank they think they can do anything. I know they'll get sue'd one day.

    I have had SO MNAY over drafts from them that I do not know about and all were never legit. I started to evaluate and analyze why and how since they have the WORST customer service in the world. I have been hung up on. they supposedly do not track who you last spoke with or clicked into your accoutn...WHICH IS HORRIBLE BECAUSE THEY CAN TAKE YOUR MONEY WITHOUT KNOWING WHO DID IT!!! i have been through HELL with BofA. I have had them say they'll reimburst my over draft fees and they did...BUT the next day they disappeared and caused MORE OVER DRAFTS FOR ME! i cale din adn all they said was they donn't know who did it and on their records the last time i called was 9 months ago!!! BS!!! i have to call in every effing month because they suck!!! URRRGH! i'm so pissed thinking about how horrible and shady they are.

    my sisters friends works for the corporate now and she told me: over drafts are how they make money. when a transaction is pending to be taken out and you have a deposit. ALL transactions being deducted are done first...THEN ALL deposits go in last!!! WTF HUH???? even if i deposited my check at 8:00am and wentr to lunch at noon that day...my money for my lunch is taken out first before they allow my deposit!!! FREAK! i'm so annoyed at BofA!! i am so ready to take them DOWN!!!

  • Jm
      17th of Sep, 2008
    0 Votes

    Five years ago I closed my B of A checking account. I opened one with Wells Fargo. Three months later, I was notified by Wells Fargo that my account was to be closed due to the fact that B of A took action against me for having unpaid overdraft charges. This action made it illegal for me to have any banking in California so I had to go out-of-state and open an account with a Federal Credit Union that my family members belong to. I am a disable person and this has been an extremely hardship on me. How could I have been allowed to close my account without B of A (at that point) withholding any fees, overdrafts that existed on my account? I went back and checked my bank statements and discovered that I did not have any outstanding fees or overdrafts on my B of A account when I closed it. Now I am being hassled by collection agencies for the amount of 133.00 dollars (B of A claimed my overdraft was 30 dollars). Can I fight this? Is this illegal for B of A to place an overdraft on my account after I closed it?

  • Bo
      2nd of Feb, 2009
    0 Votes

    We know the problems with Worse-Than-Nigerian-### Bank - who uses the con name America (but has absolutely nothing to do with America). These are international ###. Now it is time for solutions.

    There is, in fact, one highly effective way to PINCH THE HEAD OFF BOA once and for all: summon the power of the greatest enemy to BOA.

    -------------------------------------------------------------------------------

    For all of us who are sick of Bank of America's fraudulent practices:

    Step One:
    Apply for a job via their website or local branch. They want your money, so they should give you a job so you can pay them. But wait there is a catch. That is - they will turn you down (especially if you are white or male or over 40 or straight or a non-drug user). Of course, your application will end up in the batch where they will discover that you do not meet their "profile" of a ghetto employee.

    Step Two:
    Make sure they send you a denial letter and don't just ignore you.

    Step Three
    Once they turn you down, lodge a complaint against them at your local EEOC office.

    Step Four
    BOA cannot evade and also employees cannot lie to a federal investigator. (It is a crime to lie to a federal investigator.)

    -----------------------------------------------------------------------------------------------------------------------------

    I mean good grief, they want to grab everyone's money, but yet so many people cannot find jobs these days. It's not like they would hire any of these people they rip off - people who are hard working and intelligent.

    Let's all send off an avalanche of EEOC complaints (instead of a class action suit based on their fraudulent business practices.) BOA can fight class action lawsuits with their armies of lawyers. Instead, let's point out their lack of any moral value or redeeming qualities in our society. (In the old days when you owed money you could at least work off the debt or negotiate to get out from under it. But BOA wants to hold you down as a servant to them. They know everyone is struggling right now and they are always one step ahead in accounting tricks and deceptions.)

    Once you launch an EEOC complaint, instead of evading your consumer complaints based on their illegal (or at least immoral business practices), BOA management would HAVE TO answer to the EEOC. BOA would have a certain amount of time to respond. (The EEOC is the most mortal enemy that any business can have.)

    Many of victims should consider this. The very people who cannot get jobs or pay their bills are the ones that BOA rips off the worst.

    Think about it, they want your money and proceeds from fees but yet they won't hire you? It's time to put Bank of America (a con-job name for Ghetto Bank International) out of business FOR GOOD.

Post your comment