Bank Of America
Online Payment Posted Two Days Late Due to 48 Hour Rule

I payed my credit card balance in full to BOA via my 5/3 online banking service. The payment posted from my bank account as paid on the credit card due date.

When doing my routine check of my BOA credit card statement I noted that the payment was processed 2 days later by BOA and I was charged a late fee and interest. ($39 late fee and 54.97 interest) I also know that there will be interest due on my next credit card statement as the old double dip will take place on the balance for the 2 days that passed before the payment was processed by BOA.

I called customer service and a woman listened to my complaint and then, I kid you not, laughed at my lack of knowledge of the "up to 48 hr rule" for processing payments. I mentioned how unprofessional her tone was and she then became defensive. "All we can do is refund half of your late fee" was her solution. I told her if that was the case, then I will close my account today. She said I am sorry you feel that way and stated she would close my account today. I told her I thought that a customer who never pays late, and pays balance in full every month would be a valuable customer; as I know they get transaction fees from vendors when I use my credit card.

I then asked to speak with a supervisor, which she did get and his reply was the same.

They did credit my account half of my late fee, but they will still get $130 of my hard earned money in interest and the remaining late fee. I did close my account, cut up my credit card and will NEVER use Bank of America again.

I also searched the entire BOA web site and nowhere did I see stated that it would take 48 hrs to process a EFT from another bank.

I am very disappointed in this company!!!

Company: Bank Of America
Country: USA
State: Delaware
City: Wilmington
Phone: 8002972326

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