I was charged $70.00 by Bank of America for transfering funds from my checking account to savings. On 8/10 available balance was $43.43, at 7:52 I made a $25.00 gas purchase, balance was still available also on 8/10 I deposited $200.00 cash into my checking account after 3 pm. When I returned home after work the evening of 8/10 I looked online and my account showed an "available balance" of $218.43. I completed a funds tranfer of $100.00 from my checking to my savings account and thought all was well leaving enough in my checking acount.
I checked my account this morning 8/12/and I had been charged a $35 NSF fee for the $25.00 gas purchase and $35.00 for the funds transfer. The bank had manipulated the transactions to cause my account to be overdrawn by the $100. Funds transfer. When I contacted customer service - they stated I should have made myself aware of their policy that they can decide when and how to process the transactions either by Higest balance first or date or lowest amount basically any way they see fit.
When I hung up with the customer service rep, I called the local branch and they took my information and said they'd return my call. I pulled out the 81 page Deposits Agreement and Disclosures booklet I received from the branch when I first opended the account and low and behold on Page 57 it states under the title: Check and Item Process Orders:
"We may in our sole discretion change our priorities, categories or orders at any time without notice to you. Even if we provisionally post checks or other items to your account during the day, we may treat them as if we received all of them at the end of the day and process them in any order we choose. We DO NOT Process transactions in the order in which they occurred."
I want to make as many people as possible aware that Bank of America maniipulates funds to produce additional fees for their bank. Even though I have receipts with date and time stamp proving that the $25.00 purchase was made when the funds were available I was charged. I also was charged for transferring funds from one account with this bank to another account within the same bank affiliation. BEWARE!!! Beware!!! BEWARE!!!
I have taken this to the highest level of customer service and will provide an update if these funds are reversed. I have filed complaints with the BBB, FL State Attorneys office, local news and I will take this matter as far as I can until the bank ceases this practice or reverses these charges back into my account.
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