I've read the numerous back and forths from the issues with Bank of America. Well I'm sorry for those who are pro-Bank of America because it's been the worse banking experience in my life. I was a Fleet Bank customer for over 4 years and probably overdrafted two times in the time span i was a customer. I had an overdraft protection with my savings account but I also was not allowed to use my debit card when there were no funds in my account. This is just plain good old fashion business do not allow us to overdraft because we are human at times we make errors so if you tell me no i can't use the card at the store I'd rather be a little bit embarrassed then be short $34.
My problem occured when I deposited my husband's pay check issued from a bank of america customer. The teller cleared the check as the funds were there on the other side. The problem was that his bosses check was cleared by bank of america prior to them making sure it would clear. So they went into his account and took the money back in turn causing a domino affect all checks he wrote against that money bounced.
It took us having to talk to Managers and higher to get all our money back from the fees they charged us for an error they caused. It took almost two weeks to resolve this issue but since they bounced the checks it caused the checks we wrote against his pay to bounce as well so the stores charged us a returned check fee for that which BOA has not given back to us.
So please this is bad bank practices but I don't blame BOA to get away with what they can because our Government allows this. It's up to us "We the people" to start hounding our representatives to have more regulations on banks because their profitting more than they need to profit. It's a capitalistic nation and BOA is just reaping the profit as long as the legisalutures allow it.
It's time for us to make a stink to have laws state checks should go in the order received so that if we do overdraft were not making the banks any richer. Hell don't they make enough taking interest off the top from our mortgages and car payments. Their should be somewhere in the banking system the consumer doesn't get raped over the coals.
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