I have been a good customer of Bank of America for the last three years. I have often been a victim of their overdraft skeem, self generating fee's.
My wife recently went to Del Taco, order her food and paid with a BofA debit card for $9.78. AT that time our balance was $848.00. They held that debit plus several others, for a period of 6 days.in my error I had mailed several bills I had wrote checks for and two of which were mailed early This was my fault.
I had several debits etc listed on the pending portion of the online banking. At 9am it showed I had a balance of $35.48. Sometime in the afternoon, one of those mismailed early checks reached the bank.instead of just bouncing that check they moved it to the bottom of the stack and then declared all above it to be in overdraft mode. Some of these charges were transacted 6 days prior when I knew I had adequate funds.
10 OVERDRAFT CHARGES OF $35.00 each were then posted to my account. Talk about self generating fee's, what a racket.
I talked with an online representative and told her of my situation, after the generic recteric, she agree to remove two overdrafts, but stated thats all she could do.
I've had it. I'm canceling my account and moving on. I've spent a fortune in fee's, half of which are unjust. 10 overdrafts!!! I've never been that irresponsible.
Just recently Bank of America lost a class action suit for overdraft fraud practices and was ordered to repay thousands to their customer. Seems they havent learned much.
Moral of the story: If you Bank with BofA and use a debit card, and have adequate funds you could be charged enormous fee's for just using your card.
Wayne
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