I became a Bank of America (BOA) customer through no fault of my own, (there were several mergers and acquisitions) Barnett Bank became Nations Bank became BOA.
In a one month period I was hit with overdraft charges totalling nearly $600.00. BOA resorted to a new strategy to get as much as they can from customers.
Previously BOA would post the debits before the credits regarless of which was received first, they got sued on that so now they have resorted to a scheme which is almost as sinister in nature.
They simply post the highest transaction received for the day regardless of the chronological sequnce of the transaction. They pretend to be noble by saying most people would rather their larger transactions to go through since it is usually a mortgage payment. Thanks but no thaks, what they have taken from my account amounts to almost one months mortgage and my mortgage comes through only once a month.
The trick is if u have 8 transactions, 7 of which are for less than $20 and one for $1,000, if the one for $1,000 came in last they will post it first, if that transaction cause the account to be over even by $1.00 they then get to collect $33*7. BOA I would rather you post the $1,000 last it will only cost me $33 and not $231.00
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