Comments on: Bank of America Overdraft Resolution

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Comment on Bank of America Overdraft Resolution by uberVU – social … — Tue, 23 Mar 2010 07:27:24 +0000

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By: Ami

Ami — Thu, 01 Oct 2009 12:49:11 +0000

BOA have a well planed Overdraft Scam. I was charged $35 15 times in 2 weeks, while I had over $15,000 in cash in my account! This was well planed by the bank workers that fooled me into separating my account into 3 different accounts! Please ban BOA!

By: Lori Palmer

Lori Palmer — Mon, 17 Aug 2009 23:38:36 +0000

Bank of America charges $35.00 for NSF for charges of $1 or $2, even after an immediate deposit is made. I deposited funds to cover a $1 and for Starbucks drink of $2.00 on 8/13. On 8/14 I deposited $89, BOA took $73 from my account for 2 NSF charges of $35 each and the $3 for the charges. I called to complain and explain I was told that it is not the Bank’s fault. They are theives and instead of helping the public they hurt us. Bank of America are theives of the worst sort.

By: Cyndy

Cyndy — Fri, 17 Jul 2009 23:40:19 +0000

Today I called BoA, and discovered I was overdrawn 115$, including 3 overdraft fees. I was confused about this because the last time I used my card was on the 12th (today is the 17th), and I checked my balance/pending transactions before I used it. It said I had no pending transactions, and I made sure not to spend more than it said I had (I am poor, I don’t need overdraft fees!!). I called, and the man who was supposed to “help” me explained that 6 transactions posted to my account on the 13th (I only made 3 on the 12th). That was the extent of his help. Once I realized that the overdrafts were partially their fault (I say partially because I should write down my spending and not rely on the system), I called back and explained to the person that answered that I checked my balance on the 12th etc… I didn’t even ask him to reverse any of the overdrafts. He was super nice/helpful and ended up reversing all of the overdraft charges. By far the best BoA experience I have ever had.

By: Susie

Susie — Fri, 19 Jun 2009 18:12:52 +0000

Bank of America or any large banking institutions make SO much money off of these overdraft fees that it’s a joke. Bank of America is probably on the top of the list on bank that are unscrupulous. Not only are they scamming us in ATM fees {if you don’t use their own} but now $35 for each time you go into an overdraft? And they are charging me for an overdraft that never happened. The money got pulled but it never went through because the transaction was canceled. I am also getting charged for a charge that is still PENDING. Bank of America is horrible when it comes to customer service and they are HUGE scam artists. I am closing out account. My fiance too. He got charged $300 in overdraft fees because a transaction went through that he didn’t authorize. They are giving him the runaround. In this economy, you would think that they would work with their customers instead of trying to fleece them for all their worth.

By: Angela

Angela — Sat, 09 May 2009 04:19:35 +0000

Bank of America, ive been banking with these Jack A**’s for 10 years, never really had problems untill the crap hit the fan in the ecomomy, my most recent bad experience is when i transfered 100 from my husbands account (who is also a BOFA customer) to my account. Immeditaly the mone was removed from his account and put into mine. I knew i had a check clearing my account and this would transfer would cover this amount and then son. Well the next morning i get an email stating i received an over draft fee for that check. I call the bank the day (a friday) and according to TWO rep’s i spoke to a regualar, and supervisor, both told me there was NO record of any online transaction! My husband then calls and they tell him the same thing. Well the next morning (saturday) magically the money is in my account. After i recieved the overdraft fee i call and speak to two more reps, reg and supervior again,who then gives me the number to the ONLINE services (where was this number when i called friday?) any who i speak to a rep there who is a “supervisor” confirmes that my online transfer was made on Thursday (with that being the case i should not receive an overdraft fee, right????) No i made the transfer 8pm arizona time, they are on EASTERN TIME for ONLINE TRANSACTIONS ( if i had taken this money to an atm it would have posted the same day and no fee would have occured) so they isnist this was not a bank error and keep the fee on my account. I hope bofa burns to the grounds all bank are a huge scam!!!!!!

By: BOA cust Alex

BOA cust Alex — Mon, 20 Apr 2009 23:38:51 +0000

OK now I see I’m not alone. I made the mistake of paying a few bills a little early and my account went below 0,then I made 3 debits after my payments posted.
I was charged 3 times $35,thats $105,what a joke!!! They would not reverse the charges at all,evenn 1 or 2 of them,this is definitely a money scam and I would join a class suit against BOA for sure .. Their are may lawyers who love these type of suits,they win too!!
The charge is way excessive and there is no bank that should charge that much—EVER!!!

By: Adil Alsuhaim

Adil Alsuhaim — Fri, 03 Apr 2009 17:57:22 +0000

Just stop dealing with BoA. Go for a local credit union. They will give you a credit card (visa/mastercard) and you can use that anywhere in the world.If you want quick cash, go to Walmart, buy a 50 cents Snickers bar and ask for Cash back. it won’t cost you anything in terms of ATM fees.

Even if they charge me $10 a month to maintain my account I would still be doing fine. I paid BoA a total of $700 dollars in overdraft fees in the last two years and I think I would have done better and be happier with a smaller bank.

It is sad that all the big banks like CitiBank, HSBC and Chase would probably have similar outrageous fees. The problem is that no body is doing anything to stop them. In the UK, HSBC paid 1 billion Pounds in a settlement. Bank of America is getting away with it by just paying $35 million dollars. Read about the class settlement lawsuit against Bank of America.

By: b

Sat, 28 Mar 2009 18:55:57 +0000

boa is ridculous! they want our help now that the economy is bad but cant change tehre policy on overdrafts to help us when we make a mistake! Ironic isnt it

By: Lloyd Williams

Lloyd Williams — Sat, 01 Dec 2007 19:52:36 +0000

I am not sure how other banks do it but this whole “overdraft protection” item at Bank of America is a money making scheme.

In the old days it was a loss for banks to deal with accounts going below $0.00 on the account balance and overdraft protection was created. This was an inconvenience but banks would transfer money for you from another account. This was so accounts would stay in positive numbers, checks would not bounce etc.

However these days everything is automated and there is no inconvenience to the bank whatsoever. Let’s say you have $10,000 in your savings and your checking goes below $0.00, the computers transfer money from your savings and charge $10.00 for every debit below $0.00…AUTOMATICALLY. So essentially the bank has no loss and inconvenience and yet they still charge these fees. See an actual example below:

11/29/2007 SAVINGS OVERDRAFT COVE
RAGE TRANSFER CHARGE
-$10.00
11/29/2007 SAVINGS OVERDRAFT COVE
RAGE TRANSFER -…
-$25.00
11/28/2007 SAVINGS OVERDRAFT COVE
RAGE TRANSFER CHARGE
-$10.00
11/28/2007 SAVINGS OVERDRAFT COVE
RAGE TRANSFER -…
-$140.63
11/27/2007 SAVINGS OVERDRAFT COVE
RAGE TRANSFER CHARGE
-$10.00
11/27/2007 SAVINGS OVERDRAFT COVE
RAGE TRANSFER .
-$1,111.76

This can amount to hundreds of dollars very quickly if you are not aware of it.
THIS IS OUR MONEY THEY ARE TAKING FROM US. Bank of America and many other banks are making millions of dollars off of these worthless penalty fees and sadly most of this money comes from people who really need it…people who don’t have 10k sitting in their checking account.

In my opinion this is not about managing a checkbook. If you have enough funds and you do not want to manage your accounts you should not have to just for the sake of avoiding senseless fees.

I prey one day there are class-action lawsuits against these banks and the customers get some of their money back.