Let me start off by stating that I have read many of the reports listed on this website for Bank of America, and I have come to some very serious conclusions.
Let me fill you in on some personal history so you know that my allegations have credibility. I am a former U.S. Marine and former Aviation Electrician for a very big military contractor. I took a leave of absence in and have been attending college (full time) ever since. This is no easy feat with no real income and four small children. We now live check to check with only one year left until I earn my B.S.in Electrical Engineering (I have already earned an Associates Degree in General Studies, Liberal Arts, Mathematics, and Engineering.
Now let me get into the details of my interactions with the bank. Last month, I wrote a check to my mother-in-law who was going on an extended trip. She was supposed to cash the $100 check in August while on her trip. She cashed it in mid July, and the subsequent transactions which posted to our account brought us $10 and change into the negative. The $10 was three separate transactions. One for less than $2. The bank then charged me $93 in fees. I called the bank and they graciously reversed $47 to my account as a "courtesy".
A week later, after paying my rent and car payment, more items cleared the bank. I knew they were coming, and kept a very good check register, but the original -$10 and the remaining bank fee helped to cause a -$66 condition. Many transactions cleared that day, and because of the way the bank does business (clearing the big transactions first), 8 transactions were posted negative to a cost of a $155 fee. Now I am approx. $220 in the negative. I called the bank again to see if anything can be done and was told by more than one person, " Nothing can be done, Sorry ".
I understand that the Bank is a business and needs to make money. I understand that everything that cleared was justified. I understand that this is MY FAULT. (for those of you that post the dribble about nobody taking responsibility for their actions). I do not dispute the fees. They were charged in accordance with the contract I signed when I signed up for my account, and the people I spoke with at the bank were just following Bank of America policy when they denied my plea for help, and they did it in a very business like way.
That said, Yes, I am angry. Yes, I need to blow off steam. I find the whole situation absurd. I was told by the person I spoke with at the bank that they clear charges in this " large transaction first " policy so that my big items will clear ", (like rent and car payment—but not food and smaller non-necessary items). Wait a minute, all the items cleared add up to the same total. No matter what math you use, all the cleared transactions add up to the same negative number. Maybe it should just be a $ amount. Clear all daily transactions as they come in. First come first cleared.
My next complaint is that I have been a customer of Bank of America for a long time and it is my honest opinion that in this particular case I should have received better consideration. I understand business practices, but sometimes you need to bend a little. If you can see that both of the withdrawn events are related, and feel the least bit sympathetic, then you are better than the Corporation of the Bank of America. I go over by $11, you charge me $93, give me back $47 as a "courtesy", a week later I go over by $60, and you can't see the transactions are related and I possible deserve the same " courtesy ". The transactions effect each other. Please don't tell me you "can't" do anything for me when the real answer is that you "won't" do anything for me.
I am one year away from graduating with a B.S.in Electrical Engineering and going into the robotics field. I will also be the owner of my parents old house, with a good salary. Too bad BANK OF AMERICA will never get any of my business again.
On a final note; To Lauri of Jacksonville, FL who wrote,
"You are the people that have raised the cost of a bounced check from the average of $5 (1988) to $35.00.
You are the people that have required banks and credit unions to have such high opening balances, so that now alot of people can't AFFORD to have the luxury of a bank account.
You are the whiners, the criers, the "refuse to take personal responsibility for ANYTHING" that has turned the American economy on it's head.",
You are one very ignorant individual.
The banks do not raise the cost of fees because more people accrue and pay them. The bank does nothing to earn the much larger fee. The cost of processing fees has not gone up that drastically, and if your next argument is that the bank has more people not paying the fees, then the fee should still be lowered so more people can afford to pay them. We are supposed to have laws in this country to prevent people from not paying the fees that they owe. We should not punish the whole country for those few that break the law.
As per your next remarkably ridiculous statement, anyone can get a bank account with just a few dollars. My six year old son started his with $2. Illegal immigrants here in California get bank accounts. You don't even have to be a citizen.
Your last statement is fairly ironic. It is ignorant / non compassionate people like you who have managed to " turn the American economy on it's head."
Michael
La Mesa, California
U.S.A.
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