I have been a customer of Bank of America for a total of 6 months now and I have paid over $700.00 in overdraft fees.
The first situatuion occurred when a check of mine was deposited that was written in my married name instead of my maiden name as I was newly divorced.
My payroll department had not changed the records and my check was printed in my married name. Not realizing this I deposited the check into my account but a couple of days later the transaction was reversed.
I explained this to the bank but they said that they could not accept the check because the name was not on the account, I needed to add my married name to the account. I had to wait for two weeks to get my check back, in the meantime my account remained overdrawn for two weeks.
Check after check hit my account because I sent out bills on the day I made my deposit. Not only did I have to wait for my check but when it did come I had to pay half of it in overdraft fees to the bank plus I had to pay returned check charges to my creditors.
So an entire check was used to pay overdraft fees. The bank was not sympathetic at all they claim to care about their customers but all they care about is how much money they can milk out of their customers.
I had a situation where I had gone to the ATM and made a withdrawal, I checked my account to see what was available before I made my withdrawal.
The next day my account was negative. Their explnation to me was when I made that withdrawal the funds were not available and this caused my account to overdraw.
Correct me if I'm wrong but it was my understanding that I cannot witdraw any money if the money is not available, I know it's that way everywhere else.
These people will use any kind of explanation because they can.
I had a situation where I made a cash deposit to my account before the cutoff time and later that night my account was overdrawn.
Their explanation to me was that the funds are not available until the next business day. I reminded them that since it was a cash deposit it should not have been held but available immediately.
They told me that if any teller has ever made my cash available immediately at any time they must have been doing me a favor because they recognized me or something because it is a federal law that any funds deposited into an account is not available until the next business day. Sounds crazy to me!
I have had transactions go through my account that have cleared for three days prior and all of a sudden when a large check comes through they have gone back and placed the already cleared transaction in as if it came in the same day as the large check
And wouldn't you know it, they put the large one through and charge me an overdraft fee for both transactions including the transaction that had already cleared.
Their explanation to me was that sometimes companies will put transaction through for amounts different than what the transaction really is and after a few days the actual transaction will come through.
This did not wash because non of my transactions are that way, I have reocurring transactions that are the same amount each month and they are debited from my account the same day they occur, and when I use my pin number. The transaction is debited right away.
When I asked who I needed to complain to the customer service rep told me that she didn't know who I should complain to and that it would normally be her Supervisor but the Supervisor was not available at the time.
Bank of America will come up with anything; like don't write checks if you don't have the money in the bank to cover them. Okay if I have $100.00 in the bank and I had written four checks one for $100.00, two for $5.00, one for 10.00 and one for 5.00, and one for $25.00 and all of these checks come in even if the smaller ones come in a day earlier the larger check will go in first.
Instead of putting the checks through that they know will clear or even in the order in which they come in so that they save the customer from having to pay excessive fess they will put the largest one through then each of the others, and charge $34.00 for each of them and to top it off they will not even pay them. It is rediculous.
I have decided that enough is enough I am so tired of their tired explanations, they are playing on our ignorance, because we are not in the banking business therefore there is a lot we don't know, but we can all learn.
One thing we do know is that we are being taken for a ride by Bank of Ameerica and we are paying through the nose.
I assume they are so large that they could care less about a few disgruntled customers, but from reading this report it is obvious that there are more that just a few imagine the ones that don't know about rip-off dott com.
If we all get together a form some kind of class action maybe they will wake up and re-think the way they do business.
There are soo many companies that operate just inside the lines, and by operating this way they are protected. But it should be illegal what they are doing.
If any one knows of a way to get this company to be held accountable for milking their unsuspecting customers out of hundreds of dollars and committing unfair business practices please let me know because I work hard for my money and I am tired of paying money to dishonest people.
Lynn
Rockford, Illinois
U.S.A.
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