This topic is regarding a relevant ethical issue that hits home for almost everyone, including myself. A recent brush with unethical and unfair treatment by Bank of America had me extremely aggravated and frustrated. I felt stripped of my rights and powers as a customer, nobody would listen to me, and every person I talked to switched the story around.
It all started when I deposited my weekly payroll check at the ATM on Dearborn and Ohio, on Thursday, as I did every week for nine months. My paycheck was for an amount greater than $500 and my ATM receipt stated that the money would be available the next business day, as usual.
A couple days later I mailed my rent check, and I called Bank of Americas automated line to get my balance information, just to make sure everything was in my account. My balance was about $100, and the transaction for the deposit of my paycheck stated that is was for $0. A bit frustrated, I optioned to speak with an associate.
The associate informed me that a hold had been placed on my paycheck for two business days, and the funds would be released on Tuesday. I argued that it was the same check I deposited every week for nine months, and he explained that the corporate office felt that the check could be returned as un-payable. I also mentioned that my deposit receipt stated that the money would be available the next business day, and that I was worried that my rent check wouldnt clear.
After I explained those details to him, he stated that this was a bank error, and that any overdraft fees resulting from the hold of my paycheck will be refunded in full. His promise made me feel a bit better, but I was still worried about my rent check clearing. He also stated that there was nothing that could be done to remove the hold.
On Monday I made a $100 deposit to cover minor transactions that would be posting. I was frustrated to see that my ATM receipt stated that my account balance was negative. I looked online for a list of recent transactions, and saw that I had been socked with five pending overdraft fees for five different transactions. This didnt make any sense to me being that my ledger balance for the date the fees were initiated was positive.in fact, the ledger balance had taken my paycheck into account, which I thought was confusing being that my paycheck was still on hold in my pending transactions list. Very confusing. I wanted this resolved immediately and called customer service.
Customer service once again stated that this was a bank error, and informed me that I couldnt be credited back the $270 in fees until they post to my account the next business day. I got frustrated, and asked to speak to a supervisor. The supervisor stated the same broken-record nonsense, and told me that he was making a note on my account and that I should call back first think in the morning to get credited for all five fees.
I called the next day and waited on hold for an associate for ten minutes. I explained, once again, my situation, and I told her about the note on my account. She put me on hold for five minutes. When she came back, she apologized, because she couldnt remove the fees, because, in fact, they werent incurred due to bank error, they were due to my careless banking. She went on to explain that the associate and the supervisor that I talked to were both wrong and that they both gave me misinformation.
Fuming, I asked for her supervisor. Same deal, she tried to explain to me that the order of posting transactions occurred in such a way that I didnt have enough funds in my account. She also told me that there was never a hold on my paycheck, for it was dispersed on the previous Friday. She told me she was willing to compromise and that she would refund three of the fees. I told her that offer was unacceptable, and she refused to negotiate further.
I marched over to the nearest branch. Demanding a manager, a banker pulled me aside into his office to discuss my problem. I explained again. He told me that he absolutely understood and that he would remove the fees. A moment later, he apologized, for he couldnt remove the fees because the woman I talked to at the corporate office locked them up. He informed me that a manager could override this, but he wasnt in until the next day.
So, I marched over to another branch and explained again. The manager couldnt remove the lock on the fees, and explained to me that when reviewing my account on his screen, this all appeared to occur at my fault. I told him about the hold on my paycheck, and he said that there was no hold. There wasnt even a hold listed in my hold records.
I mentioned something that was conflicting in my mind; the five fees were posted on the 8th, and the transactions, he claimed, that caused the fees, posted on the 8th. I also mentioned that there were only three transactions listed, not five. I explained that this didnt make any sense, because the account has to post a negative balance before a pending fee can be generated by the computer system. He finally started to come around and see my point.
However, he stated that there was nothing he could do, and he advised me to call corporate again. At this point, I honestly wanted to strangle someone. If I had to explain this to one more person, I was going to do something which would probably get me exiled. I demanded that he call corporate, and explain on my behalf.
The woman he talked to stated that the fees were locked and that there was nothing that anyone could do to remove them. How is this possible? She also mentioned that she saw the note that the supervisor left on my account Monday night; ordering a removal of all the fees. He hung up, and left the room for a brief moment.
He came back, and apologized for this inconvenience. He stated that he was going to draw up a check from Bank of America for the $270 that was rightfully mine, and that the money would be in my account the next business day. I checked, it was, and I closed my account.
This confusing, infuriating, and insulting experience filled my conscience. What If I gave up? Has this happened to others, and did they give up? How could this happen? I was treated unfairly with disrespect, deceit, and my complaints fell on deaf ears. My problem was resolved, yet I was still angry. People should be able to trust their banks.
Lauren273
Chicago, Illinois
U.S.A.
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