I checked my BofA Account today and I saw I was hit with 9 overdraft fees, when there was money in the account.By the time the over draft fees went through, of course I was in the Red! I called Bank of America to ask them HOW I could have 9 overdraft fees and 5 of them when there is money in the account.
Here was the explanation of JOSE (Customer Service Supervisor) #1580. He said that as of March 1st BofA passed new guidelines for charging NSF charges. There guideline is that irregardless of when the money is actually taken out of the account, if the bank does not have money in the account, and even if you make a deposit to cover any charges made - they have the right to still charge you $35 per transaction. I asked when were we informed of this change, and he said that we should have read our contract that give Bofa permissons to change and apply and charges at their discretion.
I asked him how they could charge NSF when there was money the account to cover the charges as they came through the bank, and that my Online statement clearly shows that when charges were posted to my account there was money in the account. His explanation was that although the money was taken out on the 8th, some charges originated on the 5th, and even though the Merchant did not process them until the 8th, that they still have the right to charge NSF... HUH???
My next question was that how is it possible that online I can see that when charges post to my account, and I have money to cover them - I can still get charged. His answer was that the ONLINE TOOL is only for reference and not an accurate reflection of what is really happening... So I told him then if I am dependent on their system to let me know if I have money or not, and what charges have come through, then I am pretty much S.O.L. He said Absolutely, furthermore he began to tell me that he is not my accountant to help keep track of my expenses...
I keep track of how much I have spend and cover any charges... I asked to speak to the Branch Manager, and he said that they do not take phone calls - HUH? I asked him for his last name to file a complaint, and he would not give it to me... intersting thing - he gave me his managers first and last name...!!! Can you RIPOFF!!! BofA is Notorious for fees— and it all makes sense - they are losing money because of the BAD loans they have made, and now are passing the losses onto their consusmers...
What did I do? I told them to close the account - and GOOD LUCK on collecting those BOGUS CHARGES! That is Great Customer service don't you think!!
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