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Be Aware! Band of America's New NSF Fees; Procedure
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Mar 18, 2008 Bank of America complaint by No_to_bofa |
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***Bank of America's New 03/01/08 Posting Procedure: I've just learned that BofA is now charging NSF fees for "paying" for unposted/pending transactions to your account eventhough you will make a deposit at the end of the day that very same day. So for example...you have $100 in the bank now...you decide to make a purchase for $101 (knowing you'll make a deposit tonight-which WILL post at midnight) we....dear BofA will charge you $35 for covering that $1 eventhough you made a deposit and EVENTHOUGH the purchase transaction WILL NOT POST FOR ANOTHER TWO DAYS!!!...that is OUTRAGEOUS...I have now been charged over $100 in NSF fees for three small transactions I made just MINUTEs before making a deposit....I think I'll take my business somewhere else!!!
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1. Written by Rediculous Procedure, on 05-09-2008 13:06
Bank of america does NOT process like all the other banks. This was an insta change to all of their customers accounts and the customers they had understood their overdraft plan, but all of a sudden, it changed overnight. This was a scam from BofA against it's customers. There was a wide known fact that banks have 'Check Cards'. Checks don't post for days, this is no longer called a check card, it should be called an insta debit. It does not even sound remotely sensible to charge someone that amount of money for an item that HASN'T EVEN HIT THEIR BANK ACCOUNT.
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2. Written by dog, on 02-08-2008 06:08
I've noticed the same thing. I used to be able to make purchases thru credit on my check card a day or so before my direct deposit went in and since it took 2 days for the items to get processed I was in the clear. Now they go by the date you made the transaction. The funny thing is, my account was never actually in the red because they still counted my deposit before the purchase so how was my account overdraft if it never dropped below $0.00??? I have also noticed for a long time that if you use their site to figure out your balance they are trying to trip you up. Items being processed from pending to posted will disappear for a whole day and the amount will be as if you had never made a purchase. My register was $48 one day and the amount shown on the BofA site was also $48. Next day bank says I have $190 or there about. This is because the transactions that made up the difference was being processed as not shown. I have just renewed my habit of making sure I go strictly by my own register and ignore what the bank site says. Also I have such little trust that I also will no longer enter a pending deposit into my register until after it has finished completely posting. People need to realize that banks are the enemy. They will do anything and everything they can within the bounds of the law (hopefully only that far) to take your money and anything else of value you have. If they can get you in debt the rest of your life, well I am sure this would please them as well.
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3. Written by quick, on 25-07-2008 17:02
Banks. Well they are there to generate money you know. They want to get as much of your money as they can. The bank manager is also rated on the number of nsf charges so as you might imagine this might make it hard for them to resist. The only way to have a good experience with any bank is to make sure to use as few of there services as possible and to make sure you have your own overdraft in place. That is always having at least a paycheck worth of money sitting to save you from there crap. Bank cd's, insurance, or even mutual fund investments are also all highway robbery. Watch out it is going to get worse and as usual you will find out after the big charges are put onto your account. The banks have no problem telling you that they will charge you and yes it is fair because you signed there agreement. The fact is society has been pushed to use banks and there services or you are punished with many inconveniences. Unless you are on the track to run your life on a cash cycle vs the debt cycle they push you into you will always be one paycheck from them ripping you off. So if you must use a bank and have the convenience make sure you have at least a paycheck worth of income sitting in your bank.
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4. Written by banker (at another bank), on 23-07-2008 12:28
I can tell you that every bank processes transactions in a very similar fashion. So even if you do close out your account and go to another bank, you will still run into the same problem. Read over your bank services agreement carefully to see EXACTLY how your transactions are precessed. I would also recommend getting some sort of overdraft protection on your account. Attach a savings account or line of credit to your checking account so you dont have to worry about tiny overages as much.
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5. Written by Ian Fredereicks, on 09-07-2008 08:23
This "Bank Natzi" obviously works for them,
I'm experiencing the same CRAP as I type this response!!
"1. Written by Customer service guy, on 26-04-2008 12:06
sounds like you abviously don't know how to budget your money. BofA new processing system for debit card transactions are the same as any other bank these days. No longer are you able to play your account short and close by expecting to make a deposit ontop of a negative balace that is pending. This type of change is what customers REQUESTED for a number of years for BofA to do, and enough voices were heard in HQ to change it BACK to this type of processing. Bottom line, keep some form of register of your transactions, write your stuff down, if you know you don't have enough money, don't attempt to make the purchase or you'll suffer the snowball effect of overdraft fees. Thats my only advice to EVERYONE that reads this post. To be honest with you, i'm tired of taking VERBAL ABUSE everyday, and so does all my fellow associates. We become frustrated because people fail to listen to anything. And people wonder why BofA have such "horrible" customer serivce."
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6. Written by Customer service guy, on 26-04-2008 12:06
sounds like you abviously don't know how to budget your money. BofA new processing system for debit card transactions are the same as any other bank these days. No longer are you able to play your account short and close by expecting to make a deposit ontop of a negative balace that is pending. This type of change is what customers REQUESTED for a number of years for BofA to do, and enough voices were heard in HQ to change it BACK to this type of processing. Bottom line, keep some form of register of your transactions, write your stuff down, if you know you don't have enough money, don't attempt to make the purchase or you'll suffer the snowball effect of overdraft fees. Thats my only advice to EVERYONE that reads this post. To be honest with you, i'm tired of taking VERBAL ABUSE everyday, and so does all my fellow associates. We become frustrated because people fail to listen to anything. And people wonder why BofA have such "horrible" customer serivce.
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7. Written by jeffrey white, on 18-03-2008 15:46
*** BANKS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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