I recently relocated and had not changed my bank yet.indiana does not have any Bank of America locations so I drove 148 miles to Charleston IL to deposit my paycheck.
I arrived at 1:50 in the afternoon, but my deposit slip was stamped 2:01. I want home thinking all was right with the world.
When I checked online the next day, I noticed that the deposit had not cleared yet. Since my company also uses bank of America, I wondered what the problem was. I had three bills coming out of bill pay on the 15th. My cell phone, My BOA credit card and my BOA mortgage payment.
I called customer service and was told that it would clear that night, and I would be fine on my payments. The bank can see that the money was there. No problem.
I checked Saturday morning and sure enough, all my bills were paid, according to confirmation on billpay, but they had only deducted the cell phone bill from my account.
Remember, Monday was a holiday, and all seemed fine until tuesday. When I checked my accounts I noticed I had a $35.00 late charge on my credit card. I then checked bill pay and both my credit card and mortgage, that the day before had shown paid, showed payment failed due to lack of funds. I called my old Branch and spoke to the manager that I had dealt with for the past 15 years. She checked my account. She could not understand it, it did not look like they even attempted to withdraw the money. She gave me a special number to call customer service. Customer service says that there is nothing they could do. Even if I had scheduled the payment, and the money was there, it was scheduled within one week of its due date. They are not responsible for mix ups unless it is over 5 business dates prior to the due date. I had told her that neither payment was due until Monday, and I did not repay it on Saturday because the bank said it was paid. She said sorry, that is the way it goes.
Today, even though I re payed the bills on Tuesday, I got a $35.00 over the limit fee on my credit card. My card was driven over the limit because of the late fee. This is a small card I use for online shopping. I pay it off in full at the end of every month. I also got a 3% late fee on my mortgage. I have a copy showing the money was in the bank. They don't care. They screwed up by being careless with the mortgage crisis, and now are ripping off consumers to make up for the shortfall.
I had heard the horror stories, but, when I had over 100K in their CDs prior to buying my house, I had no problems, now that I have virtually wiped out savings for home ownership, they are ripping me off... Stay away from them... Even if they are treating you good, they are just waiting for the worst time in your life to pounce.
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