Jun 17, 2008 Bank of America complaint |
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Recently, I made purchases on my BOA account. On Saturday, after the "end" of the business day, I found I was in the red by $22.00.
Because I had cash, I deposited in my account and had a postive balance. Then I was given another check of $373 and put that in the account. Until today, all the charges were pending. So almost $500 in my account, and then I find that most of the oldest transactions are either pending, or they've been given an earlier date to justify the $35 fee taken out of my account.
I'm not a rich man, but at the same time, if I owe money, I pay it. But every time I turn around, the system is backdated or the charges posted out of order to make sure I have to pay. When I asked about this, I was told to make sure I pay attention to how much I spend. When I said that I'm poor so every penny is always looked at, they got upset. I'm paying more in bogus bank fees and charges than what I have because even when I put money in, they still keep charges pending until more money comes in the account. More than once, I've seen a transaction post 3 days earlier, or a deposit post for the next day, even if it's been on time. What should I do?
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1. Written by rachel, on 10-08-2008 12:18
AGREED AGREED AGREED. This bank proceeded to tell me that the "pending" transactions had a specific code that were intended for the previous day so they could still charge me fees. That's complete BS! Like I'm supposed to know what their codes mean. I don't work there!  I'm currently looking into a new bank, because I went there the other day for another problem, and the lady who worked at the branch had a complete attitude problem with me as if I was inconveniencing her, when it is HER JOB to help me.
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2. Written by banker, on 16-07-2008 21:15
You are going to run into this at any bank. I work for a totally different bank and our system is very similar. You need to familiarize yourself with how transactions are processed. They give you a bank services agreement at opening for a reason. Quick rundown... after funds on hold are deducted from your available balance, transactions initiated previous day are always processed 1st (those pesky pending transactions that finally post) then current day transactions. Debits are processed largest transaction to smallest. Banks say that this is because larger payments tend to be more important (think mortgage, electric, car payment etc) but YES... it is also because they DO want to charge you fees. How do you think they are going to make money off your nearly empty account? How do you think they stay in biz? Banks are FOR PROFIT. There are ways to aviod fees though! If you are unable to keep large balances ... keep an accurate register and figure out how transactions are processed..... get a savings account or a small line of credit linked to your account as overdraft protection... EDUCATE YOURSELF
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3. Written by Adam, on 27-06-2008 08:31
Drop them
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4. Written by Aaron, on 17-06-2008 14:17
almost the same thing happened to me, they re-arranged my purchases and dates with the most expensive first, so instead of only over drafting once, the put the expensive stuff first to take the money out, then all of the 1 or two dollar things afterwards, even though that they were days before the big transaction, and already accounted for on my account.
cheaters
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