Having experienced some of BofA's anti-consumer policies in the past I try to keep a close eye on my bank account balance.
On 6/13 I checked my balance on-line at Bank of America. My account showed several pending atm point of sale transactions which had been deducted from my available balance. I had a positive balance after the atm charges of $342. I was expecting a $300 check to come in and had $500 to deposit. It was after 2pm so I knew that if I deposited funds at an ATM it wouldn't post till the next day so I decided to wait until the morning and go into a branch. Stupidly I figured I was safe.
When I deposited my money they told me I had a neg. Balance. I deposited some extra money and went on line to look. To my horror they charged me $170 in NSF fees. Turns out the $300 check came in plus my husband made another check card purchase later that day. B of A processed the transactions from largest to smallest, not in the order the transactions occured. So instead of processing the ck card purchases which showed up earlier that day and bouncing the $300 check or paying it and charging me - they paid everything and charged me $170 in NSF fees, by first processing the $300 check and then charging me $33 fees each for transactions ranging from $27 to $83.
I spoke to several "customer non-service" people who informed me that they would not make any adjustments because it was not a bank error. I have no problem with paying an nsf fee for a transaction if I don't have enough funds. However, their system is designed to generate multiple fees. It really tweaks me that even if I had deposited a check in an atm that evening - they wouldn't process it until the next day and would have still charged me $170. There is more to this but this is already too long. They connected me to person who is supposedly in the "executive office" and claimed to have authority but could only take a report and pass it along.
The other part of this story is that this is my business account. Obviously we are short on cash or this would not be an issue to begin with. I have 2 personal Bank of America Credit cards which are in good standing and credit cards for my business from every about 6 other bank card issuers. Bank of America WILL NOT issue me a B of A credit card in the business name to use for overdraft protection. They will not accept my personal Bof A cards or any of my business credit cards for overdraft protection. I want to kill them when they smugly tell me that if I had overdraft protection this would be prevented. When I tell them the BofA credit card story they tell me to open a savings account for overdraft protection. HELLO!!! If the business had extra money for a separate account this wouldn't be an issue to begin with. I keep sticking with them because I have been a BoA customer for 25 years. Well I guess I have finally had enough. It seems like this practice must be illegal??? It is clearly designed to maximize fees at the expense of the consumer. Don't they care about the customer at all??? From their attitude - it is clear they do not.
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