Beware the BofA "free" Campus Edge checking! Unlike their commercial, which touts the promise that charges show up on an account immediately, BofA processes charges sometimes days late. If an accountholder looks online or calls, they will be told a balance that is usually inaccurate. Then, they process a number of charges at once and if the account is even 1 cent overdrawn they will charge $35 for every transaction overdrawn. My son was charged $105 for being $7 overdrawn for one day. Another $140 was charged the following day because the overdraft charges created more overdraft.
BofA's response? Students should keep a handheld paper ledger with their balance, so they can keep on top of their charges, as BofA cannot report accurately. We had limits on the account that stated that no charge should go through if there is not the balance to support the charge. Also, we had "low balance alerts" recommended by BofA. We transferred $ in immediately upon learning of the overdrafts. Too bad. They don't care. It is a profit center.
The overdraft charges create more overdraft, causing a death spiral in the account. DO NOT get CampusEdge checking! It will cost you HUNDREDs of $
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