I believe the bank engages in unfair practices in regards to their account fees. As a recent example, my husband deposited a payroll check drawn on a Bank of America account. I use the online banking feature to monitor our checking account, and as of the following Monday, the account showed a positive balance. When I looked at the account again a couple of days later, I saw 4 charges for insufficient funds on items presented earlier in the week, yet there was still a positive balance. And a fifth check presented after this didn't clear, because of the earlier service charges. When I called the bank, I was told that the payroll check didn't clear for 3 business days, because BoA is headquartered in another state. This is a bank that is literally in every town across the country! When I then asked how my account could still show a positive balance, I was told it was my responsibility to be aware of the bank's check clearing policies. Gee, I thought I was! I think the bank is deliberately misleading to consumers. What good is online banking if it doesn't accurately reflect your balance? If you know you are in the red, you can make a deposit so no further damage is done - but I think they'd rather take your money than help you manage your account. And this is definitely not the first time we have had issues with this bank. I have had an account for over 30 years, starting with Attleboro-Pawtucket savings bank, through all the changes over the years, most recently the bank was First Federal. I have NEVER had the problems, or poor customer service, that we have experienced with this bank. We are closing our accounts and going to the credit union!
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