Bank of America policy is to process the largest debit first, so if you have $200 in bank and you have 3 debits or checks out one for $4.00 one for $7.00 and one for $201, guess which one they process first? Thats right they process the $201 one first causing all three to bounce and then they charge you $35.00 for each one. Even if you can prove with debit slips that the lower amount purchases were made before the larger amounts, they still won't change there policy. Kind of sucks being $12.00 short and then get stuck with $105 worth of NSF fees. This has got to change, many other banks do it this way as well. So beware before you write a check or use your debit card. And if this has happened to you REPORT THE BANK TO THE Better Business Bureau maybe if they get enough complaints against them hopefully they will change their policies.
I know a bunch of "model citizens" will jump on here and criticize me for not maintaining enough $ in my account. Stuff happens, there was NO intent on my part, and a $5.87 purchase at a pharmacy, that was made while my available balance was far in excess of that, cost me $40.87!
This is not about who was wrong, and no, unfortunately no laws were broken by the bank, because THEY OWN THE POLITICIANS & lawmakers whou could have changed this a year ago or so. It is about ETHICAL business behavior! (OR the lack thereof).
All these ripoff big banks claim that "our customers told us they want it this way" - I call BS on that. Give us the option to choose what order (largest to smallest, or vice-versa) the transactions are processed, or allow us to choose to have the debit transaction refused at the point of purchase! Simple, and the only RIGHT thing to do. I cannot believe that this is not illegal... Thanks a lot for nothing, banks & politicians.
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