Those THIEVING SWINDLERS at Bank of America have profited richly with the New Millennium at our expense by virtue of its fraudulently rigged automated system deviously designed to bilk—and bleed to DEATH—the hard-earned money deposited in accounts of low-balance customers.
We DO NOT write bad checks.in fact, we scarcely write checks at all. What with automated debit systems customers scarcely need to anymore.
Yet the THIEVING SWINDLERS at the Bank of America fraudulently plucked our checking account with extortionate "insufficient funds fees" in these exorbitant amounts for the following years: $291 ; $300 ; $352 . And to date for 2003 an ABSOLUTELY OUTRAGEOUS $480. Imagine the excessive sums the swindlers make off with if they're stealing similar amounts from most or all its other low-balance accounts. Quite a neat little racket, isn't it?
We are a moderate-income couple living on a fixed monthly salary whose financial condition this fraudulent bank's insidious automated system is deviously designed to not only RIP OFF but COMPLETELY IMPOVERISH AND PAUPERIZE.
Here's how the insidious automated system is so deviously designed to fraudulently STEAL hard-earned funds from low-balance accounts:
1) It accepts rather than declines electronic debits made to low-balance accounts even when funds are "insufficient" or unavailable to pay those debits.
2) It FALSELY REPORTS the payment of electronic debits UNDULY LATE—typically DAYS after such debits are presented for payment.
3) It FALSELY REPORTS via its insidiously automated bank balance inquiry system not only INFLATED but OUTRIGHT INACCURATE balance statements (greater than actual amounts available).
4) It promptly charges low-balance accounts drawn down to minus or negative amounts—even just pennies over one single dollar—excessive "insufficient funds fees" ranging from $14 to $28 to $32.
That means a customer can miscalculate by debiting a payment for something as cheap as a paltry cup of coffee and still get fraudulently RIPPED OFF for an amount as exorbitant as $32! So should a customer even notice the shortfall in their balance and attempt to cover it with a hasty deposit the insidious automated system will either 1) falsely report the bank balance status or 2) reject the deposit for posting until some ARBITRAILY SET TIME WELL PAST THE PAYMENT OF THE DEBIT WHICH SHOULD'VE BEEN DECLINED FOR "INSUFFICIENT" OR UNAVAILABLE FUNDS IN THE FIRST PLACE!
Yes, we've already heard all of the LAME ALIBIS AND EXCUSES for this fraudulent and insidious automated system so deviously designed to RIP OFF the hard-earned funds of low-balance accounts: customers must "balance their checkbooks" and, more smugly, the bank doesn't act as anybody's "accountant." Well, who the f*k asked it to?
What IS demanded and expected is CURRENT AND ACCURATE AUTOMATED BANK BALANCE INQUIRY INFORMATION! As I posed this question to an arrogant and indifferent APOLOGIST for banks at the Comptroller of the Currency: So what exactly is the PURPOSE AND USE of the bank's automated bank balance inquiry system then if not to ASSIST CUSTOMERS WITH THEIR ACCOUNTING OR CHECKBOOK-BALANCING CALCULATIONS WITH CURRENT AND ACCURATE INFORMATION??? No answer.
Yet the THIEVING SWINDLERS at the Bank of America OUTRIGHT REFUSE TO TAKE ANY RESPONSIBILITY WHATEVER for their insidious automated system, DECEITFULLY citing that it never makes any "ERROR" when it fraudulently RIPS OFF low-balance accounts exploiting its outright obsolete and INACCURATE BANK BALANCE STATEMENT REPORTING.
Naturally it's no mistake or "error." Quite the contrary, it's obviously deliberately and deviously designed to RIP OFF FUNDS FROM LOW-BALANCE CUSTOMER ACCOUNTS!
Their fraudulent attitude was admitted in writing by one "executive customer relations officer" with this telling statement: "If we do OVERDRAW your account to pay an item, YOU are RESPONSIBLE for paying US!"
No! The f*king bank should be "responsible" for not overdrawing our account to pay any item to begin with much less report dated, false and inaccurate information via its insidious automated system!!!
As I myself cautioned those THIEVING SWINDLERS at Bank of America: What comes around indeed goes around!
And it's indeed most heartening that attorneys in san francisco are presently suing the b*tards at bank of america via a class-action for robbing direct social security deposits to pay their fraudulent "overdraft fees!" ha, ha, ha, ha, ha, ha, ha, ha!!!
Now it's high past time to prompt bank regulators and legislators to compel these THIEVING SWINDLERS to TAKE RESPONSIBILITY FOR ITS INSIDIOUS AND FRAUDULENT AUTOMATED SYSTEM, preferably by a similar class-action suit.
It's this absurdly and ridiculously simple: If the bank's automated system can be deliberately RIGGED to RIP OFF low-balance accounts with "insufficient" or "unavailable" funds by accepting electronic debits, then it can obviously be responsibly rigged to automatically DECLINE THOSE VERY SAME DEBITS AND SO NULLIFY ITS ALIBI FOR RIPPING OFF THOSE FUNDS.
What have the THIEVING SWINDLERS at the Bank of America to say to that???
Joseph jr
Berkeley, California
U.S.A.
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