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That's right, another complaint concerning overdraft fees with Bank of America (BOA). Before you naysayers rise up against me, let me first tell you that I did not monitor my account or my spending as closely as I should have. Now with that being said, let me say this.
My checking account was -$136 (negative). After discovering this, I immediately transferred $300 from savings to my checking. Later on that night after 1 am, I discovered that my account was -$145 (negative). I asked myself how could this be.. I rectified this situation about 10 hrs earlier.
The next morning I contacted BOA and asked an explanation of how this could have happened. I was told that the system recognized that i overdrew my account an accessed my account the overdraft fee of $35 five times. Ouch!
Let me explain to you what I believed happened: The computer software charged me again for 5 items which caused my account to be overdrawn again even after I moved the $300 over from savings to checking.
The BOA contact explained to me that those additional charges were from today and that the previous charges were from the day before. Here is where it gets CrAZy. Before we got off the phone, she stated that 'once you get an overdraft fee it unfortunately begins to snowball'.
She was not lying at all. When I got off the phone with her about 12:30pm I had a balance of -$145. As you read this my account balance is -$320. I haven't made any additional transactions since this fiasco started.
Naysayers, I know what your thinking... You are probably going to say 'You should have been responsible in managing your checking account.' Your right but THATS NOT THE ISSUE. The issue here is that the software kept charging me additional overdraft fees AFTER I bought the account current with NO additional transactions pending.
In Conclusion... let me say this. You have your own opinion of what happened here and that's cool, its the American way. This isn't the first time I have complained to BOA about this problem. There is a glitch in the software and no one is publicly acknowledging the problem. You and I both know that the stock would plummet through the earth if the public knew.
It doesn't matter what you think, its my account, my mistake. I can tell you this NAYSAYERS just don't let this happen to you. Its easy to throw rocks when you don't live in a glass house, isn't it?
If you have a similar story please JOIN complaintsboard and tell us what has happened to you. Thats what I did. If you know a good lawyer have them contact this site and legally get our names so we can file a CLASS ACTION LAWSUIT against Bank of America.
America, WAKE UP ! The large corporations are draining the life out of the honest people who pay taxes. Stop Complaining and talk amongst yourselves and Complain and Protest. You dont have to march in the streets or have a sit in. You have the INTERNET and other people and friends who have been unfairly taken advantaged of. You are POWERFUL thats why this website exists!
The complaint has been investigated and resolved to the customer’s satisfaction.
I've worked for banks and credit unions the past 10 yrs. It is always the banks/credit union fault for the overdraft. The employees go in at Midnight and sit around a table to decide who's account we will overdraw today... It's really fun I tell you! Then we secretly take out money from your account to make SURE you overdraft... Ok the balance showing online or mobile phone is your current balance. The balance in your check book is the balance you have to go by because bank employees don't know what you have spent or what checks you are writting. I'm sure you can find an online tool which will help you manage your check book. Good luck with using a check book and don't blame anyone but yourself for overdrawing the account!
I just recently requested to close my account for the same reason. I HATE THIS BANK! They are ripping people off ! My boyfriend and I have switched to SEFCU. Credit Unions are much better. I really wish you all the best.
@Hutch, since you worked there for 10 years maybe you can clear some thing up for me.
Why are amounts billed starting from the higest first to the lowest and not in order of the transactions ?
Why can't go transactions instant? most transactions are electronic or are entered in a electronic system so could be realtime.
Why does a bank need to charge you 35 dollars per purchase you do over your funds ? when there job is to store and loan money? where is the sence compaired to the fact, when you just loan a litlle bit of money from them for a few days, if you worked at a bank i dont have to telll you what 35 dollar intrest on a litle loan for a few days comes down to.
I can tell you what i think, the banks in the USA are rotten, i really don't see the bennefit of using one of those banks, better cash your checks and store it safe at home, so you have a realtime oversight of your money and at least can make sure nobody is silently ripping you off.
There only alive couse we choose to bank with them, it's gonna be a mather of time till more and more people have dealed with those insane overdraft fees, couse it can happen to anyone at one point, the money they make with this is so good that they won't mind a few customers walking away, they will be making good money still.
I really hope people start waking up on this one, there is no reason to accept those crazy fees when a bank just should do there job, store money and loan money.
I've had constant problems with BofA. I called and complained and they returned a fraction of what they purloined as fees.
I filed complaints with the BBB and the Office of the comptroller of currency.
I doubt that will help but at least I'm doing something about it now.
I also filed a complaint through AFFIL. Check them out. You can contact your Congressman through them about this.
BOA Worse bank ever. The greedy get greedier and some how BOA needs to be STOPPED
The checking account that my husband opened with BOA was suppose to be a joint account. My husband brought home the contract that you sign when you open an account. I never signed it but BOA went ahead and put my name on the checks. Our account was compromised and the bank said we'll take care of it. The bank did take care of that but during our account being compromised we continued writing checks (the day came we got the letter stating that our account was compromised) Everything thing seemed to be OK until we get a statement in the mail OVERDRAFT and the next day we got another and another. We went down to the bank and they said that we owed the overdraft fee. I said if our account hadn't been compromised the checks would of never bounced and I refuse to pay for something that I am not responsible for. Since then BOA has turned our name into the CHEX system and now we can not even open an account. I am thinking of using the unsigned contract against them but I don't want to make my husband look bad. This day in age you need a bank account. I don't know what to do
Bank of America is famous for stacking customer checking accounts. They seem to target customers goinmg thjrough economical hardships (e.g. low account balances). They claim they pay the largest bill first in case it's a mortgage or something. HOGWASH! They pay the largest bill first to make customer have several overdrawn small bills and more NSF charges for them. They pulled themselves out of bankruptcy by cheating struggling customers like you and myself. No need switching banks. The others and the credit unions are all starting the same practice.
I recently made a deposit in the atm machine at bank of america. I have been with bank of america since 2000. The check was my school tuition refund which I could have cashed at a Wachovia since that is my schools banking institution paid the 5.00 fee for not having an account at wachovia and then deposited the cash at bank of america. However, because I have never had a check held even in the past with my school refunds. I deposited my account and waited for it to clear on the next business day. When I check my bank account BOA had placed a 10 hold on my funds. I call and tried to inquire why this occurred and they said because we have the right to place a hold on any checks we want to hold. Meanwhile all my automatic withdrawals will bounced and of course BOA favorite thing will occur. They will impliment several 35.00 overdraft fees when in reality I do have money in my account. They are not customer focus and they are surely going to be one customer less since obviously their main concern is money. They wont have any more of mine. Once that money clears I am closing my account. BOA will no longer pimp me!
As a former AVP of a large Bank I would like you to know that BOA had the funds in their account the following day. Also I don't know who allowed these excessive overdraft charges. These charges which range from $31.00 to $37.00 depending on your bank only affect the poor middle class who already are struggling to survive. I'm not saying there should be no charge but this is indeed excessive.-GQ
Sounds like it is time to wage war against Butt of America by changing over to a Local Bank or Credit Union, Besides b of a is a Commercial Bank
Pass the word around Face Book and Utube
Bank of America has purchased many smaller banks and, therefore, have little competition. They do what they want and they get away with it. The "pending transaction" scam is a specific example of theft. Monetary transactions are supposed to be atomic. Banks are not supposed to rewrite the times and dates of transactions to steal from customers as Bank of America does.
The attached photo shows transactions that are recorded grossly out of order.
Ya they "create" late fees so they can steal from you. Your not alone.
Poor customer service. I had to wait 45 minutes just to close my accounts. Than they wouldn't give me my money in cash and charge me $7 fee for a check to myself. Other banks I have used didn't charge me a fee as long as the check is for myself. They are a rip off, stay far away.
BOA has done the same thing to me. They are sharks and need to be investiaged for their practice. It pisses me off that my tax dollars bailed them out. They rip people off left and right basically stealing money from people and they get away with it. I am closing my account and will not recommend them to anyone and will post to every social site that they are crooks!
I know that Banks now are trying to recoup thier cc losses through crazy fees and that more than one overdraft fee can be charged to the same transaction, BUT not until a period of 5 business days has passed (in most banks, some may have different times) and the customer has not made a deposit to fix the overdraft. It seems as though you have fixed the problem and are still being charged, you really should go to a branch and speak to a manager, I bet they will reverse the extra fees, trying to work with reps over the phone is fruitless and makes you feel helpless.
Good luck, I hope you recover some of your losses, dont let them get away with it.
BoA is billing me for a corporate credit card that should had been paid off by my previous company. I may have owed around $200-300, but they are billing me for a total of $655.69. I had submitted all of my expense reports and for this people to double my bill is unheard of.
They want their money plus interest and penalties. Pretty much, you signed for a card, your company did not pay it off, and you are responsible for the debt.