I had a account with these people. I checked my online account and all checks cleared the night before. The next morning they REVERSED the figures to show the payments BEFORE the deposit and bounced several transactions. I went to the Locust Avenue branch in Lawrenceburg, Tennessee, to talk to a bank representative. She said there was nothing they can do about it, the banks policy was to "soft post" at night and "hard post" after the figures were entered into their bookkeeping system.
Due to the false "soft/hard" posting procedures, my account went from a positive balance to a negative balance of four dollars. The bank employee stated there was NOTHING she could do because any changes had to go through corporate and she was a "floater", not a regular employee of the branch that I dealt at. The bank employees claimed that Paypal continually processed a transaction of just over seven dollars more than a dozen times, with as many as three processes in one day. For a week all I could do is watch the bank pile on one charge after another for this Paypal transaction.
It should be noted that I contacted Paypal and they deny the transactions being submitted; stipulating that they submitted it ONCE and they stated it was their policy to only submit ONCE a day, that other banks often do their own "internal submitting".
A week later I went to the downtown branch. The employee at this branch was more helpful and not as dishonest as the previous employees had been. She put a hold on my account so no more bounce charges would incur (which the "FLOATER" could have done just as easily). I was employed at a temporary agency and didn't have a regular full paying work week at the time. I made a few deposits to pay the "bounce charges" that was from the week that I waited to go see people at the other branch. The charges are tantamount to nothing more than theft and extortion as the employees KNEW the account could and SHOULD have been put on hold; but they let the account reach almost one hundred and fifty dollars in improper charges. If they had used the original "soft posts" then I would not have been overdrawn and would not have incurred ANY overdraft charges; but due to their "hard post" they extorted the money that I've been forced to pay.
My roommate took bookkeeping in college and it was profoundly expressed that changing book figures after they are entered in ledgers is considered "doctoring" the books and accountants caught doing such acts are routinely charged with felony fraud. Evidently bookkeeping practices are only a technicality for Bank of America.
According to written bank policy, the accountants can routinely change the figures to the banks advantage; in other words, move deposits from the proper submission time to cause checks to incur non sufficient funds charges even though the checks were submitted AFTER the deposit was submitted. The overdraft charges were about one hundred forty four dollars plus the original illegal four charges of thirty five each, hence they EXTORTED over TWO HUNDRED AND EIGHTY dollars from my family.
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