Bank Of America’s Workaround

| October 27, 2009 | 1 Comment

When In Doubt, Send The Fee Out

The reader who brought us our latest Bank of America rant, has followed up with us again with proof of the audacity of Bank of America and their renegade fees.

Despite making a written request to be a part of the new program (effective October 19, 2009) that would have BOA decline any purchases when they would overdraw an account, Bank of America ignored the request and apparently honored a forgotten automatic payment, issued more fees and even came up with a new fee to top it off.BOA Overdrafts

Dear Eye ON annapolis,

Thanks for bringing the Bank of America stuff to the attention of whoever reads your site. Maybe it will get somewhere. But as you can see from this print out (I smudged details) they hold transactions to suit their needs. The numbers after the word “checkcard” are the dates of the transactions and you can see when they applied them. So much for their commercials where you see it instantly.

But on the 19th, I knew I was low and made a deposit to bring it up. But they had held the 10/19 purchase till the 21st to assign the fees.  I am not sure how they reason 5 $35 fees for only 2 transactions. Yes, the 10/22 posted on 1/023 transaction was an auto payment I forgot about, so I agree I am responsible, but now they add another $35 because I have not paid their extortion fees?

After my deposit, I had $46.75 in the account. I bought a lunch for $25.70 so I should have been good and left a balance of $21.05.  ANd yes, the auto payment for $25 would have overdrawn me. But instead of overdrawing the account by $3.95 and then assesing a $35 fee resulting in a -$38.95 balance, thanks to Bank of America, I now have a -$143.95 balance.

When I wrote you last time I asked to put in the program where they do not honor transactions if it causes an overdraft (banks used to do this in the old days) and they apparently ignored the request. It was sent on the 21st to them, yet they honored the $25 auto payment and issued subsequent fees.   I also asked for a refund of the fees and they refunded one of them but then just yesterday took it back with another fee.

Feel free to post this if you think it makes sense to do. But I am done with Bank of America. I wish there were some small banks in the area that really understand what a customer is. Any suggestions?

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