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I've devoted hours and hours to studying Bank of America's "accounting" and this is what I've discovered: During the course of the week they will "recredit" monies to your account that had already been deducted leading you to believe you have more money than you really do. Then they will put those old transactions back through along will all the new charges resulting in multiple overdrafts if you have a low balance and aren't wary of your "true" balance and are using "their" balance.

They will even undo transactions that have already posted and "reshuffle the deck" so to speak to get even more overdrafts. Call B ofA (1-800-622-8731) every morning for a week and listen to your balance and see if you don't "mysteriously" have more money in there for some reason even though you've made no new deposits.

I pay cash for everything now because I can't afford $38.90 lattes.

Product or Service Mentioned: Bank Of America Checking Account.

Monetary Loss: $1000.

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Anonymous
#315143

Thanks For This Post, was added to my bookmarks.

Anonymous
#313305

I find myself coming to your blog more and more often to the point where my visits are almost daily now!

Anonymous
#288848

Very informative post. Thanks for taking the time to share your view with us.

Anonymous
#175417

All I can say is I may ruin my credit, But I'm going to get some of my money back these thieving sobs' at boa have charged me in FAKE od charges due to their creative accounting...when you are down to $2 or so go fill your gas tank up on credit and maybe your buddies too leaving boa on the hook for the bill....

Anonymous
#156041

I dont know how or why this banks always screws me over. Alot of ppl are right when they say that they scramble a lot of the transaction around thinking you have money and then "poof" its gone and ur stuck with overdraft fees up the ying yang.

I just got 4 fees and this really *** me off because I just basically used up one of my hard days of working paying them instead of me. I notice that when you deposite money in your account it takes awhile to post, but when stuff gets deducted they are on it like vultures on road kill.

God I hate this bank so much, i wish I had printed out a statement showing what my account looked like before they deducted and charged me overdrafts. I have no clue on how their system operates in terms of deduction and adding.

Sheats always gets scrambled. Dont bank with them........

Anonymous
#155186

they are stealing from customers by rearranging pending transactions and charging you more overdraft fees

Anonymous
#151974

just got charged 105 for spending 20.38 of my money

Anonymous
#151192

Well, I have been the person sobbing on the phone with a BofA customer service rep, because of 5 overdraft fees. It is hard to accept the fact that you are on the hook for $175 in fees that you did not budget for.

I just decided to always try to keep a cushion of $100 in the bank at all times (not always possible) Because as they say "It is your responsibility to balance your account accurately". A problem I have with them is: I use the Billpay service for almost all of my bills. I have for years planned the "deliver by" date to be on my payday so that I could cover bigger payments. They used to deduct these payments at midnight of that day (Friday night/Saturday morning), but recently they started deducting the payments in the morning.

This really screwed me up, not able to put gas in my car, or buy groceries because my account was negative until my check cleared at midnight. Why can't their time lines be consistent?

Anonymous
#149902

Just got off the phone with BofA regarding overdraft fees. I don't understand how they can continue to get away with typical scamming practices.

For example, re-crediting money to your account in hopes that you don't balance your checkbook accurately. The worst experience just happened to me yesterday. I deposited CASH in to the ATM at 8:15 p.m. on 6-1-10 and the receipt showed the full amount available for withdrawal.

I then drove home and transferred $200 of the money to my wife's BANK OF AMERICA account online. The next morning I had three overdraft fees for some fast food purchases and the cash deposit still showed "pending" while the $200 transfer showed it had posted completely. I spent over an hour on the phone with a "supervisor" and couldn't get anywhere. They made me feel like I was talking to a robot and could not comprehend anything.

She kept repeating "$100 was made available to you immediately" and I kept saying "how was I able to transfer $200 then" and "the money was transferred to another BofA account".

BofA use to operate in a more honest manner years ago, but have since become the scumbags of the banking world. I'm going to move all of my money and loans to Chase.

Anonymous
#134261

that post from disclosing info was me my bad

Anonymous
#134259

so i signed up for this acount and give myself the name lowrolla and you guess find out my real name how is that i do not feel safe what if boa kills me and i know for a fact that the getaclue guy probably works for boa so *** you why defend a scandelos bank there name BOA as in BOA constricter Banking on america and so many others and i know what is my problem is and it is the day i decided to have BOA as my bank and another name b ank of *** *** getaclue you are a perfect example of the people that BOA consist of

Anonymous
#117656

How strange that I would discover this old post almost exactly 2 years later to the day. Anyway, I've been free of Banking off America's slimy practices for 2 years now and have been very satisfied with my local credit union.

Thank you Dale H. for the nice acknowlegement. I hope I made a dent in B of A's revenue stream with this thread. They've already repaid the government TARP money with 1000's and 1000's of overdraft fees so they can go back to getting their lavish bonuses.

I think the comment from GETACLUE22 is just shillt from a shill. Overdraft fees are becoming a bigger and bigger piece of the revenue pie for banks; replacing interest income. I've gotten rid of all my credit card debt also by converting them into personal loans. 2007 was the best year ever for banks.

They made 19 billion off credit cards. In 2008 their profit dropped drastically to 6.5 billion due to a lot of defaulting customers. They are scrambling to come up with new tricks to maintain their greedy profit targets. Switch over to a credit union if you live on the edge like me and can't afford to keep a cushion in your checking account.

This is essentially a war people! I work too hard in construction to let these parasites suck on my paycheck.

Anonymous
Hoffman, Minnesota, United States #117595

i wish i have 10 pages to post my hated for this #$@%&%$ bank of bad called america it should have another name like demond bank or something i hope one day goes out of buss for good stop using it you will be hapy

Anonymous
#111625

My issue was that the over draft fee was not levied until the following Monday, from a purchase on a Friday. So I floated the appropriate amount to my account to bring to the positive until my payroll check when into the account, but did not put enough to cover the overdraft fee because I did not see it one day after the transaction, and thus assumed it did not get charged, but apparently it is one BUSINESS day. So I thought I resolved the issue by putting my account into the positive column. But the overdraft fee put in on Monday put me in the negative, that then resulted in two more overdraft fees being charged.

When I called about the first overdraft fee they reversed it but said nothing about the two others that would go into affect that night. And now they will not reverse the two others. I did what I should have done and realize it was my mistake in the first place, but come on, they have to see that I rectified it as soon as I saw it!

This company is not without its faults, thus its need to live on taxpayer money, so why can't they admit that humans make mistakes and if it happens infrequently they should be able to reverse charges, especially when the customer tried to remedy it!

Anonymous
#109115

as with any checking account no matter who you bank with it is your responsibility as account holder to keep track of your transactions and not be lazy and expect that everything that the bank is telling you online is correct since its not always the case banks give you info for what wass charged as long as the merchant is actually presenting full info. some merchants can take 3 dayss or even longer to charge account.

Oh and always read the disclosures at time of opening an account with a bank it gives you info as to how they process and their fees. Once again don't be lazy when it comes to your money and keeep track of your spending you will see a big difference and this goes for any bank that you might open an account with.The info as to fees and processing is not hidden from you, it is given to you in writing, it is up to you to take the time and review it.

Anonymous
#103098
DONT OPEN AN ACCOUNT WITH BANK OF AMERIKA, THEY ARE RIP OFFS :(
Bank Of America Worse Bnk
#99020

DO NOT EVERY OPEN A CHECKING ACCOUNT WIH BANK OF AMERICA!!! This bank is not custonmer friendly they re arrange transactions so that they can bill you more overdraft fees and it doesnt even matter how much the transaction was for even if its for $3 they will charge you $35 for overdraft this bank is ridiculous.

Dont even try calling the customer service for checking accounts is horrible they dont show any empathy and they just simply dont offer help they dont let the customers talk and when I tried figuring out why my account was being billed so many fees they would simply say you are responsible for balancing your own account.

They show different info on online banking than what the reps have in thier system so when you call they always say the same thing your responsible for checking your balance and making sure you dont overdraw but the only way to do that is by calling or checking online but when you check online they dont honor the info that is presented there. All of thier business practices are just to take more money from the customers they are estimated to mak about 38billion in overdraft fees this year this is a huge sign they are not doing things right they are doing it to make money they rearrange transactions only when you are about to overdraw how convenient.

Anonymous
#94887

I have had it with B of A. The last straw for me was when they started charging overdraft fees on items that are PENDING, not posted.

It used to be that if items were pending, I could make a deposit to cover the charges I made, before the charges posted, and avoid all the overdraft fees. Well, they supposedly been doing this since 2007 and even mailed out notices, but I never got one and I'm sure I made a deposit to cover those charges since 2007 and it worked. To me they are just trying to take more of our money any way they can. It is riduculous to me to be charged for items that are PENDING.

As soon as I pay them off, I will be cancelling my account.

This makes me not want to trust any bank. I rather use cash for the rest of my life.

Hammered
#75351
This past July over the holiday weekend, I managed to double-pay my rent because my lease was in the renewal process and I couldn't confirm that the autopayment had occurred. I initiated a manual online payment.

When I discovered the error (one payment went through 7/6 and the other 7/7), I called the bank to alert them, let them know the property management company needed a week to return the funds, and ask if they could work with me during that time to limit the damage to my account. The rep's attitude was quite haughty, and I was advised that my only recourse was to get the funds replaced ASAP. One week and 31 $35 NSF fees later, with my overdraft credit and an entire next paycheck up in smoke, they reluctantly reversed the token 3 NSF fees. The load of NSF fees caused more NSF fees, plus charges for being overdrawn for more than 5 consecutive days.

When it happens sporadically it's one thing, but they nailed me to the wall with this one, it cost me over $1000. I lost my job two weeks later, and I'm a single mom, so that $$ was sorely missed. The reason the U.S. economy is in the pooper is greed such as this by the banks, mortgage, and insurance companies.

They sell you their 'services' and bend you over at every possible opportunity. :(
Anonymous
#75342
This past July over the holiday weekend, I managed to double-pay my rent because my lease was in the renewal process and I couldn't confirm that the autopayment had occurred. I initiated a manual online payment.

When I discovered the error (one payment went through 7/6 and the other 7/7), I called the bank to alert them, let them know the property management company needed a week to return the funds, and ask if they could work with me during that time to limit the damage to my account. The rep's attitude was quite haughty, and I was advised that my only recourse was to get the funds replaced ASAP. One week and 31 $35 NSF fees later, with my overdraft credit and an entire next paycheck up in smoke, they reluctantly reversed the token 3 NSF fees. The load of NSF fees caused more NSF fees, plus charges for being overdrawn for more than 5 consecutive days.

When it happens sporadically it's one thing, but they nailed me to the wall with this one, it cost me over $1000. I lost my job two weeks later, and I'm a single mom, so that $$ was sorely missed. The reason the U.S. economy is in the pooper is greed such as this by the banks, mortgage, and insurance companies.

They sell you their 'services' and bend you over at every possible opportunity. :(

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