I noticed a very strange delay with BofA's system, Online Banking & Phone Banking, that caused some deposits to post late, and purchases to post faster or purchases that appeared to post retroactive because of their system's delay. Did you also experience this between 7/26/07 and 8/8/07?
My account updated at midnight on Monday 7/30 with transactions posted to 7/26,7/27 & 7/30. On 7/27, my account went negative 24 cents for a split second, but BofA posted it to 7/26 before my electronic deposits on 7/27. I received an alert from Online Banking on 7/28 about the 7/27 transaction that amazing moved to 7/26. I could not see the transaction or the real balance until 7/31 or after midnight on 7/30.
On 8/3 (or midnight on 8/2), my account finally updated with transactions from 7/31 to 8/2. Of course, BofA arranged them in an order that they could benefit. Having never experienced these delays in the past, I started printed my Account History every single day and didn't touch the account.
On 8/8, I checked the account, and only saw pending debits & direct deposits which had not posted yet. Having waited 6 days since the last posted date to allow my account to settle, I thought I had stopped the snowball before it could get bigger. I went to the ATM on 8/8. On 8/9, I access my account to find transactions posted to 8/3,8/6,8/7, and 8/8 before my first deposit which should have posted on 8/3 but instead posted on 8/7.
I discovered I had incurred numerous NSF, even after I checked the account every single day for nearly one full week to ensure that it would not go negative again. I incurred $100s in NSF for this, and ended the week positive but I lost far too much money in the process! I've never seen BofA's systems take 6 days to reveal detail. Had it updated daily, like normal, showing the prior day's closing balance, I could have prevented this but the detail was not there.
BofA denies this, and told me that I should rely on Online Banking for check actual activity as it is normal for the system to update in batches. However, today, Online Banking told me that it updates at midnight Monday to Friday, like clockwork.
Did anyone else experience this glitch? If yes, I'd love to hear your story because I'm certain this was intentional and it likely happened to a large percentage of customers who had cut their accounts too close at the end of July, right before BofA's books/reporting period closed. I'd like to try to prove this theory but obviously, if I'm really the only person who suffered from this, then it's just me.
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