Bank Of America
Debit Purchases Not Declined With Insufficient Funds, Fees Added
- 09-10-2006
- 7
Like Citizens Bank, Bank of America does not reject purchases made by debit card if there are insufficient funds. For those of us who live paycheck to paycheck, we do often cut things very close. Bank of America took over Fleet Bank whose policy was to deny any purchase that would put the balance into a negative status - not unlike credit cards who will deny a purchase that exceeds the credit limit. However, when Bank of America took over, they changed this policy without notifying Fleet customers - they also did not grandfather us in for free checking, instead hitting us each month with their exorbitant monthly fees. When I called them to complain about the being overdrawn and having fees on top, I was told that even if they denied the purchase, they would still charge the fees because I'd made the attempt to purchase and overdraw!!! Ridiculous!!! Well, they still have my overdrawn account in negative status. They can keep it. I have a new account elsewhere whose policy is more reasonable - if I do mistakenly overdraw my checking, they will transfer funds from my savings to cover it, for a small fee of $5.00. Info up front with no surprises. As it should be!!
Company: Bank Of America
Country: USA
State: New Jersey
City: West Deptford
Address: Charlotte, NC
Phone: 8008414000