Bank Of America ripoff Overdraft Fees ripoff money in the bank and still overdraft fees Charlotte Nationwide

Dear Alice, I know and understand your dilemma, Truly I Do! Banking institutions are all alike, don't ever think any different. I've worked for Frist Union now Wachovia after merger and have been with Bank of America before as well, but just in banking with them not employement. As I said, they ALL work the same. When merger came I called to ask exactly what the specifics were on holding checks if the same or what had changed from the merger, also how they treated cash deposits different than local and/or out of town/state checks. This is something I went through also with Bank of America so it is staying with your complaint.

I am just showing you how they all are in it together so don't move unless you just want to take your business elswhere and start a new, which I would getting everything in writing of how the next bank performs in ALL area's which all of them have pamplets to that effect, so get them.

Anyway, next time you have a local check given to you, go to that person's bank and/or companies bank and cash the check. Then go to your bank for the deposit in cash and as long as it is before their cut-off time it should be credited to your account at midnight that night. Also, before moving on, if you are close to the cut-off time or right on it and say one window is on the next days work or even more are, ask if someone is late in balancing their window where you can have this credited still on Today's Work!! That is what they call it as in using "Today's Work" sometimes Run. Anyway, if they do have someone that has not balanced yet they should take it and put it with that person's work for the day without any problem. I am not saying if they have ran a balance and the balance is off, I mean if they have NOT begun to balance at all.

If you have an Out-of-Town check the bank HAS to let you know how long they hold the check. You CAN get this in writing, they have to give that to you if you request it. Usually depending on the amount along with where it is drawn from really has a greater baring on how long. If the amount is great, such as in your case, count on 10 days and then should it go through before then that is great. Most hold an Out-of-Town, also can be Out-of-State check for 5 to 7 days. The best way to handle this situation is to ask them about an electronic deposit from whom ever you have owing you money (paying you). Since this check was from an account involving Charles Schwab (or any cash account involving a broker even other banks or financial instituations), they can take the funds directly from the person's cash account and wire it directly to the bank and most of the time for little or no fee (the fee would be to the owner of cash account) and this is counted same as cash. However, I would still question this to any banking entity you would move to. In regards to what you were told as in days until funds were credited. You should go BACK to the Same Branch and discuss this with a loan officer, Head Teller or I would ask for the Manager or Assistant Manager and tell them of what you did, explaining nicely that you were told this and by whom it was on the teller line or otherwise and they should credit back ALL of your Over Draft Fees Period!!!! But, the key is to go back to the Same Branch of that Bank. Always, with any bank, account for at least 10 days for an Out-of-Town or State Check to clear and as I said, if it clears sooner then great, but stay in keeping with the 10-day rule always!

Also, if you have a Check Card with Bank America or any bank for that matter, everyone DOES NOT know this so pay close attention. The reason they don't is because it comes with that thin diclosure pamplet you get in that veeerrryyy tiiinnny writing stating what I am about to tell you that will really chaff you fanny. When using a Check Card it is set up to hold more, as much as twice the amount you've approved when using it. For example, say you go to the gas station and pump, oh lets say $15.00 dollars of gas. Not only does the gas company charge for varifying you have the funds charging most of the time $1.50, but they ask and have held out twice the amount being $30.00 dollars. That is NOT LIMITED to gas stations. That is something that occures with EVERY STORE you do business with using your Check Card.

So lets say after you out that amount of gas in your vehicle and you go to the bank or better than that a check for $25.00 dollars comes into your bank, you had a balance of $50.00 dollars, you just used $15 dollars which should leave you $35.00 dollars. You are not worried, you have enough to cover an outstanding $25 dollar check still. However, because of that one transaction of $15.00 dollars they hold out Twice totally $30.00 (not counting the 1.50 varification fee)so when that $25.00 dollar check comes in they either return the check or pay it, either way they charge you an overdraft fee of $30.00 dollars. Why, because you were $5.00 dollars short in their eyes and calculations. So, not only do you pay them a $30 dollar Unavailable Funds fee (it is not NSF that mean Non Sufficient Funds,they don't use that because of the way these funds are being treated), you have to pay the company, store whomever a return check fee, not only taking more money from you, but in essence ruining your credibility with your vendors, clients, stores and so forth not to say what it does to your credit and also it will interfere with you going to another bank as creditor's report this to credit bureau's, lowering your credit score with late payments. See the bank's now go by credit scores of whether they will allow you to open up a banking account with them. So it takes more and more away from you than you, even others realize.

Now this is the same without the Check Card situation, because as you said, it is hurting your credibility with your vendors who are your creditor's as well and when you are past due it is reported and Alice, I am here to tell you and anyone else that reads this, that late payments gets your Credit Score down Quicker than anything else every can!! You call and ask a credit bureau! There are many factor's that play a part in this, but late payments my dear are the worst!!! So, I hope in some small way this helps you and from now own, you get it in writing being it through one of their brouchures mailed to you or in their bank lobby or letter, but you get it. If they don't want to give that to you, which they have to by law, but just in saying, that is a bank and/or financial entity you DO NOT want to do business with PERIOD!! If you are in doubt or would like to make a complaint, so many people do not realize the power they have.

You can also call the Ferderal Trade Commission, Washington,DC and speak to an actual person called an Investigator. They will have to look into the situation.

I know, I have done this with my Mortgage company several years past for what I thought were unfair business practices and they not only had to correct the situation, but it was through MAKING them do a Full Audit on my account and they found Numerous Error's made by the Mortgage Company and the company had to mail me a refund check for their mistakes and letter stating why and how this happened along with interest. If more people would step up to the bat and take advantage of the opportunities afforded them to ring out to these Huge Businesses that the consumers are NOT going to stand for this and become more of a society of WatchDogs in all practices be it especially Financial in this day and time or otherwise, allowing them to start taking longer looks at what they do, well then, I can say that this would make a HUGE difference in many aspects of todays buiness practices, believe me. I believe it this would have been the case before that Enron and other companies would have been found out about long time ago. But hey, that is another story right? So I will end this here in hopes you change banks and start new, but not before you go back to that branch and make them give you the fee's back. But remember, be nice, stern but nice.

You don't want to go to jail and everyone is on edge these days, especially banks so beware of that. Just some FYI, I live very close to you just outside of Charlotte in Union County NC near Monroe,just east and a native of Charlotte. Just remember, we are the 3rd largest Banking/ Financial City in the United States, so I have to this does not surprise me.

If cities having as many banks as we do could be called a monopoly, well lets just say this town woudl not have grown quite as fast as it did and it surely did that, I watched! Good Luck and I wish you much success in the future Alice!!