I wanted to comment on the "Bank Of America juggles transactions in order to generate excessive overdraft fees. Ripoff Carpentersville Illinois" I saw earlier today. According to the rules I cannot add my comment on hers.
Bank of America takes money out of your account for a particular day from the highest amount to the lowest amount (for those of you who do not already know). So if you are bad at managing your account, as I admit I amyou will repeatedly get caught in this gimmick. Yes I call it a gimmick because BOA will tell you this is done to help you, the customer.in situations were you have a rent check amongst your transactions you would prefer to have the Rent/Mortgage check cashed first right? Sounds like a no-brainer. The problem with that policy is this
Say your rent is $700 and you have $700.03 left in your account but you also had other 10 transactions for 99cents each coming on the same day (my 8 year old son figured out how to download music on iTunes with my account), Bank of America does you the customer a favor by paying your rent! Now your account will end up being -$340 plus -$9.99.in this situation anyone would prefer to put those ten little transactions through and deal with the consequences of the RENT!
Even though it's in BOA's policy, (terms and conditions, as a rebuttal clearly explained), I still say shame on you for bringing yourself to this level. You are definitely one of the biggest banks in US and I am sure you do not need the little people. This is just simply wrong. Some people only make a set amount of money. If you want to help the customer, do that! But do not make it seem like you are doing me a favor because you are not! I do not know ANYONE who this policy helps but you! Even if you do not clear the larger checks and charge overdraft fees it would cost a lot less then $34 a transaction that you are charging for each overdraft. BOA you have taken over $2,000 of overdraft fee out of my account in less than six months with this policy and I tell you honestly you have stolen Christmas from my kids. If there is anyone in BOA reading this that has a conscience consider changing this policy. It's just simply wrong. I have been a customer of yours for almost 12 year and I have NEVER had to deal with this sort of thing. Even mentioning the fact that I am definitely leaving BOA does not satisfy me because I know you only have to pretend like you care. After all I am one person. I admit. I suck at managing my account. What a way to learn a lesson! From your own bank. Why not leave all those gimmicks to credit card companies? You have many ways to show a profit. This is just wrong.
Shame on you!!
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