Bank Of America
Larger amounts deducted first resulting in major overdraft charges

As a long-term and loyal customer (17 years) I am through with Bank of America. I am very diligent about how much I have in my account. I write down every transaction I make, I check my account online every day.

I have several drafts that come out of my account each month. One being my car insurance payment. It is supposed to come out on the 30th. This particular month it came out on the 29th. Both Bank of America and my car insurance people deny who is at fault. Needless to say, Bank of America's "policy" of paying the larger amount first resulted in five overdraft fees to the tune of $35.00 each. I called customer service and was told that it was decided that larger amounts be paid first. That I would have received something in the mail to confirm this. I did some online checking and see that there was a $9 million dollar class-action suit awarded against BOA for just this process. Who are they to make an executive decisions about my money? How can this be legal? Of course, I know that it is and I am just spitting into the wind, but had they paid all the smaller items first I would have only had one overdraft fee instead of five.

They tell me that this "policy" announcement was mailed to me last year. I asked if they could send me something SPECIFIC showing that on such and such date last year this was mailed to me. And of course, they can't. "It is mailed to everyone." What if for some reason it got lost in the mail? Did they do their due diligence to make sure that everyone received it and is aware of this "policy"? They say yes. I say NO. If they are going to enforce decisions made about people's money I say they should send something this important by certified mail! Yes, it would be expensive, but I say they can just take it out of the billions of dollars that they are milking their loyal customers out of!

So... I will take my money that I have been giving them each and every month for seventeen years and hopefully someone somewhere will treat me with respect. What happened to the good old days when bankers WANTED your business???

Company: Bank Of America
Country: USA
State: Tennessee
City: Nashville
Site: bankofamerica.com

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