Bank of America excessive Overdraft fees over the weekend "What a SCAM..."The Money was there...now they took it all!!! Tampa, Florida

Gonavy72

There are no "hidden" transactions.  Just transactions you forgot to record in your NON EXISTANT CHECK REGISTER.   i wont even try to explain the process behind pending transactions, but you were the one who made the transactions earlier, so how can they be hidden?

10 overdrafts @ 35.00 each, man they hit you good, i mean real good.

Consider this BOA's taking you to the woodshed to whoop up on your butt.  I"ll bet you learn now how to keep a check register, and for you to know how much money you ACTUALLY have in your bank account.

Be careful dude, BOA is changing their policies.  If you incur too many NSF charges, they will close your account, and put a freeze on your funds, until they know all other outstanding checks , and Debit transactions come though.

BANKS NO LONGER WILL BE DOING BUSINESS WITH PEOPLE WHO DONT MAINTAIN PROPER BALANCES!!!!!

Oh yes..there will be people who will tell you that you were a victim.  That you did nothing wrong and it was all the bank's fault.  Unfortunately they are wrong.

I don't know how they can get away with hiding pending transactions

- How could they HIDE transactions if you had them written in your register?  Let me guess that you don't keep a register and rely on the on-line banking to tell you what your balance is.  Well I have news for you.  On-Line banking was NEVER meant to be the sole or even a primary way of managing your account.  The bank does not know you made a transaction until the merchant submits the debit or check. 

Now, I can't tell you how to get all of your money back, because you won't.  You may be able to get them to credit you a couple of the fees.  If they do consider yourself lucky that they credited you any.

But I can sure tell you how to do everything in your power to avoid or at least minimize these fees in the future.  The first is to keep a register and write down every transaction you make when you make it.  The next is to make sure you do not even attempt to spend more than you have available at the time you write the check or use your debit card.  The third is the newest item.  That is to go to them and see if you can opt-out of the overdraft protection.  When you do this if your account is currently overdrawn they will decline your debit card.  Now, this does NOT mean you can't get overdraft fees, so don't think that gets you out of keeping a register and making sure you don't get into that situation.  It would just minimize the "damage" if you try to keep spending and have already overdrawn.

How can a bank "hide transactions" from you? You must have known about them since you are the one who made them? Are you keeping any kind of check register or ledger?

Some of you who preach the "you need to keep a register" as a save all in this situation are conveniently forgetting the holds various outfits put on an account when making various transactions. Most have to do with debit card transaction (which is why I no longer use one), but it will allow the bank to legally (but rather unethically) nail you for overdrafts even if the money was never even taken out. If this has changed since I stopped using a debit card, please correct me.

Example, I have 100 in my account, I take the wife and kids out to dinner, pay with my debit card, bill $30.00 (it was a cheap place). The restaurant runs the card and puts a hold of approximately double on the card. Even though I spent only 30, the transaction has 60 tied up, so I only have 40 available. The additional hold can last up to a day or more.

Now I go to fill up the gas tank, pay at the pump, debit. Sometimes they say, sometimes they don't, but many stations will put a hold on the debit card up to 75 no matter how much gas you pump. Put in 20 in gas, station puts 75 on hold. You think you have 50 available (100-30-20) and yet, based on the holds, you are really 35 in the hole (100-60-75). Some banks will nail you for that. That is wrong, but at this time legal.

Keep a register AND do not use a debit card!!

but it will allow the bank to legally (but rather unethically) nail you for overdrafts even if the money was never even taken out. If this has changed since I stopped using a debit card, please correct me.

- You are talking about the Unavailable Funds fee.  Some banks do this, some don't.  This is why it is important that no matter what bank you bank with that you understand their policies.

The restaurant runs the card and puts a hold of approximately double on the card.

- If this was for the estimated tip then the restaurant is in violation of their merchant agreement.  I know VISA specifically does not allow this, and believe that all other cards are similar.  Note this is different than a "tab" where you go to something like a bar and they will hold a specific amount.

Sometimes they say, sometimes they don't, but many stations will put a hold on the debit card up to 75 no matter how much gas you pump. Put in 20 in gas, station puts 75 on hold.  

- That is ONLY if you pay at the pump.  If you go inside they will debit the true amount.

Keep a register AND do not use a debit card!!

- Register Yes.  As for the Debit Card, yes some people should not use it.  But if you are responsible with it there is nothing wrong with a debit card.

   

 it is NOT your responsibility to keep perfect tabs on your account. Who on earth do people think the average 'CONSUMER" is...some checkbook balance guru who has nothing better to do than write down EVERY DAMN TRANSACTION THEY HAVE? This is the 21st CENTURY you dumba**es and jerks who keep posting here defending the thieving banks who are stealing people's hard earned money. We live in 2009...with highly advanced technology, but it is a necessity to keep a checkbook balance, while a faulty bank can process errors and false charges, and hidden charges electronically FOOLING THE CONSUMER and then stealing money through ENORMOUS and OUTRAGEOUS NSF fees??? GIVE ME AN EFFING BREAK....what the banks are doing is THEFT AND IT IS WRONG AND SICK.... if you're a 'bank' who is electronically showing consumer's INFO it is your JOB to post EVERY TRANSACTION ACCURATELY....and TIMELY....rather than falsely pin the blame on the 'rushed' consumer who is so irresponsible for not writing down 'every transaction they ever do'...this is highly computerized technology we have here....and people are still resorting to having to do things the way they weer done in the 50's if anything....and if not then they will be PUNISHED by having their bank account wiped CLEAN of NSF charges??? Then you have these morons here talking about how wrong people aer for not keeping tabs on THEIR transactions??? NSF fees are THEFT....they should be ILLEGAL in this manner for what they are doing...an NSF fee should be no MORE than a DOLLAR if even doing things in this deceptive and disgusting way....it is the bank's job with their COMPUTER TECHNOLOGY to accurately POST transactions....but they dont do that-- they fool people....by making them believe the transactions are posted when they're not---they'er hidden, pending, wrongly not posted....this or that....just so the banks can steal money from people.....this needs to be stopped....it it WRONG THEFT ILLEGAL SICK....dont listen to teh scumbags here....or anyone who says otherwise....they defend robbery of innocent citizens and consumers by a CORRUPT banking system....

According to that article, Bank of America, Wells Fargo, & Chase, have $45 BILLION in 'SECRET LIFE INSURANCE POLICIES' on their employees, correct? And if you 'Google' this- BANK OF AMERICA COMPLAINTS SECRET LIFE INSURANCE POLICIES, you can read where MORE banks were taking out 'secret life insurance policies' on their employees, right?

That's right buckwheat, don't listen to anyone who KNOWS HOW TO AVOID NSF/OD fees.

This isn't about some ethical "right or wrong."  It's about what is legal and illegal, and HOW TO AVOID these fees.

Simply put:  keeping an accurate and reconsiled account register will prevent any account holder from causing any NSF/OD fee.

Ways to avoid these NSF/OD fees:

Using an account register and reconciling that register with a monthly account statement from the bank will prevent any account holder from causing any NSF/OD fees.

The majority (if not all) of the reports I've read about NSF/OD fees have common behaviors of the account holders:

-using ATM cards for everyday purchases.
-using more than ONE ATM card attached to the account (husband and wife)
-using ATM cards for online purchases.
-using ATM cards for 'auto-bill pay' (autodebits)
**relying upon telephone or online account balances to determine what money is available for that shopping trip to Walmart.

**NOT using an account register.

**NOT verifying deposits have cleared.

1. Use an account register and reconcile the account register with a monthly written statement generated by the bank.  If the bank is not mailing statements, contact customer service to have monthly statements MAILED to you.

1a. Be aware of ATM fees, such as the 'non-bank ATM fee' that most banks charge when you use an ATM that is not owned by your bank to make a withdrawal and post that fee in your account register immediately.

1b. Also be aware of any monthly 'account service fee' charged by your bank and post that to your register on the appropriate date.

2.  Do NOT GIVE bank account information (or ATM card info) to any merchant, service provider, utility, or online service to pay for services and goods.  Use a REAL credit card for this purpose (either secured cc or unsecured cc.)  Do not setup any automatic deposit to an account that is attached to said cc-NO auto payments to CC company-mail a check each month.  If the entity demanding payment makes a mistake, you're going to have a host of problems and risk OD/NSF fees.

3.  Do NOT use an ATM card for everyday expenses-USE CASH.  Establish a monthly budget and withdrawal a weekly 'allowance' for every day expenses such as 'milk and bread' from the corner store, Burger King, etc.  This will reduce the amount of transactions on the bank account which in turn makes RECONCILING the account and detecting ERRORS easier to accomplish.  Again, if the entity demanding payment makes a mistake, you're going to risk NSF/OD fees.

4. Do not shop with the ATM card-use a real credit card.  A real credit card offers protections that you don't have with an ATM card.  If the merchant/service makes a mistake, you can dispute it with the CC company WITHOUT getting any OD/NSF. Not true if you use an ATM card-if the merchant makes a mistake; your money is gone until you can convince your bank to give it back, as well as OD/NSF fees.

5. ONLY ONE ATM CARD to one account.  Do NOT have 2 or more atm cards for one bank account. Having 'his and hers' ATM cards attached to the same account is the same as in the old days when some folks would have 2 checkbooks for writing checks.  It was an invitation to disaster then, and it is today.

                                                                                                                             

6.  Verify that deposits to the account have actually cleared.  Deposits can take anywhere between 1 and 5 BUSINESS days to clear depending on the type and/or source of the deposit.  Deposits over $5000 can take even LONGER before they are posted to the account.

 

The Federal Reserve publishes a “Consumer Compliance Handbook” which gives detailed information about what banks can and cannot do with deposits, holds, and funds availability.  You can download this handbook at http://www.federalreserve.gov/boarddocs/supmanual/cch/200711/cch200711.pdf

Follow ALL of these suggestions and you will NEVER pay an OD/NSF fee again unless it is a LEGITIMATE bank error or caused by a merchant.  If it is caused by a bank error the bank will rectify the situation and credit any fees generated as well as contact payees and cover any fees the payees assess to you.  If the fee is caused by a merchant error, you will need to hold the merchant accountable for the fees, although in many cases the bank may reverse the fees as a courtesy if the merchant confirms that the merchant made an error.

This is a tried and true method to avoid these fees. It works EVERY TIME it's tried.

 

P.S.  Please continue to IGNORE any advice on how to avoid these fees.  I truly enjoy having a FREE interest earning checking account and folks as you are the reason that the bank can afford to GIVE ME a FREE CHECKING account that also earn interest.

If everyone would HEED MY ADVICE and stop causing these OD/NSF fees I'm confident that Key Bank would have to start CHARGING ME a service fee for having the account.  I don't want that!  So buckwheat, YOU NEED TO IGNORE my advice. 

 

That's right buckwheat, don't listen to anyone who KNOWS HOW TO AVOID NSF/OD fees.

This isn't about some ethical "right or wrong."  It's about what is legal and illegal, and HOW TO AVOID these fees.

Simply put:  keeping an accurate and reconsiled account register will prevent any account holder from causing any NSF/OD fee.

Ways to avoid these NSF/OD fees:

Using an account register and reconciling that register with a monthly account statement from the bank will prevent any account holder from causing any NSF/OD fees.

The majority (if not all) of the reports I've read about NSF/OD fees have common behaviors of the account holders:

-using ATM cards for everyday purchases.
-using more than ONE ATM card attached to the account (husband and wife)
-using ATM cards for online purchases.
-using ATM cards for 'auto-bill pay' (autodebits)
**relying upon telephone or online account balances to determine what money is available for that shopping trip to Walmart.

**NOT using an account register.

**NOT verifying deposits have cleared.

1. Use an account register and reconcile the account register with a monthly written statement generated by the bank.  If the bank is not mailing statements, contact customer service to have monthly statements MAILED to you.

1a. Be aware of ATM fees, such as the 'non-bank ATM fee' that most banks charge when you use an ATM that is not owned by your bank to make a withdrawal and post that fee in your account register immediately.

1b. Also be aware of any monthly 'account service fee' charged by your bank and post that to your register on the appropriate date.

2.  Do NOT GIVE bank account information (or ATM card info) to any merchant, service provider, utility, or online service to pay for services and goods.  Use a REAL credit card for this purpose (either secured cc or unsecured cc.)  Do not setup any automatic deposit to an account that is attached to said cc-NO auto payments to CC company-mail a check each month.  If the entity demanding payment makes a mistake, you're going to have a host of problems and risk OD/NSF fees.

3.  Do NOT use an ATM card for everyday expenses-USE CASH.  Establish a monthly budget and withdrawal a weekly 'allowance' for every day expenses such as 'milk and bread' from the corner store, Burger King, etc.  This will reduce the amount of transactions on the bank account which in turn makes RECONCILING the account and detecting ERRORS easier to accomplish.  Again, if the entity demanding payment makes a mistake, you're going to risk NSF/OD fees.

4. Do not shop with the ATM card-use a real credit card.  A real credit card offers protections that you don't have with an ATM card.  If the merchant/service makes a mistake, you can dispute it with the CC company WITHOUT getting any OD/NSF. Not true if you use an ATM card-if the merchant makes a mistake; your money is gone until you can convince your bank to give it back, as well as OD/NSF fees.

5. ONLY ONE ATM CARD to one account.  Do NOT have 2 or more atm cards for one bank account. Having 'his and hers' ATM cards attached to the same account is the same as in the old days when some folks would have 2 checkbooks for writing checks.  It was an invitation to disaster then, and it is today.

                                                                                                                             

6.  Verify that deposits to the account have actually cleared.  Deposits can take anywhere between 1 and 5 BUSINESS days to clear depending on the type and/or source of the deposit.  Deposits over $5000 can take even LONGER before they are posted to the account.

 

The Federal Reserve publishes a “Consumer Compliance Handbook” which gives detailed information about what banks can and cannot do with deposits, holds, and funds availability.  You can download this handbook at http://www.federalreserve.gov/boarddocs/supmanual/cch/200711/cch200711.pdf

Follow ALL of these suggestions and you will NEVER pay an OD/NSF fee again unless it is a LEGITIMATE bank error or caused by a merchant.  If it is caused by a bank error the bank will rectify the situation and credit any fees generated as well as contact payees and cover any fees the payees assess to you.  If the fee is caused by a merchant error, you will need to hold the merchant accountable for the fees, although in many cases the bank may reverse the fees as a courtesy if the merchant confirms that the merchant made an error.

This is a tried and true method to avoid these fees. It works EVERY TIME it's tried.

 

P.S.  Please continue to IGNORE any advice on how to avoid these fees.  I truly enjoy having a FREE interest earning checking account and folks as you are the reason that the bank can afford to GIVE ME a FREE CHECKING account that also earn interest.

If everyone would HEED MY ADVICE and stop causing these OD/NSF fees I'm confident that Key Bank would have to start CHARGING ME a service fee for having the account.  I don't want that!  So buckwheat, YOU NEED TO IGNORE my advice. 

 

Let us know in five years how successful you are in managing your assets with that attitude that you are not responsible.

Honestly, I don't give a rat's behind how you end up and you can blame whomever you want until the cows come home. Have fun, live large, die in the gutter. I really don't care.

But to suggest to others that they simply co-opt their own culpability is truly amazing.

I truly hope your post was a joke. A poorly posted joke is just bad social manners.

Get some, 'kay?

Mr. Anonymous Miami, sir you are so right.

They are stealing from the ones who LEAST can afford to be stolen from, and also cant do anything about it because they cant hire an attorney to fight a bank.

Banks are going to see a steep decline too, and wait, you'll see VP's getting shot up over some nutjob who got 39.00 stolen from him and he couldnt afford diapers or food.  Watch.  It will happen.

I had a debit card and could not believe the bs charges they put on me.

 

 this is truly amazing-- that in order to 'avoid nsf fees' people have to resort to the encyclopedia novelle of "TIPS" you've written....just so they can avoid being stolen from by the bank---tihs is truly so absurd.... if you purchase something...on a debit/check card....it should 'SHOW UP" on your electronic statement online....your balance being shown should NOT be inaccurate as it usually is...there should be no hidden impending transactions....these are all done for a REASON...so that ppl CAN ACCRUE NSF FEES and corrupt banks can GAIN profit from stealing from people...duh common sense....if it was simple and done legitimately which it can be done...there would be no problem but they want the problems....a legitimate banking system would allow for computer accuracy not.."items purchased tonite, will be posted in two days and then you won't even see them on any statement"....but your online banking statement is available...as a supplement to your 'check balance register' you should already be keeping... what?? even if errors are occurring.....by any party there should be NO REASON to charge exorbitant amounts of fees to people...and regardless of all this the entire pt is that....even if u do keep a register....it doesn't mean that....errors arent going to occur or havent occurred....with regards to being charged nsf fees.....the system is set up so that...fees aer going to be charged no matter how hard you try....unless you are the most accurate perfect registry keeper....who keeps tabs in a precision based process that is very difficult for this 'rushed' busy society....who has the time to write down everything they've purchased and even if you do....where is the guarantee you will still have those funds int he bank and errors wont occur with the bank...tehre isn't....stop supporting these corrupt corporations and their illegal behaviors....the banks really lose out from overdrawn accounts that most fo the time they create themselves with their thieving computer systems.....designed to steal from people....of course not.....what theyr'e doing is WRONG.....i dont care if you are the most responsibile person in the world.....it doesnt jsutify what these banks are doing to hard working consumers....i personally am so scared of OD fees i dont even use my check card anywhere....just keep it in case of emergencies....why risk losing your bank account and hard earned money because there is a large chance you wll and in the end there is little you can do about it....

A few points to consider...

It IS the account holder's responsibility to manage his or her account and know what the balance is.

If the account holder doesn't want to deal with low tech items such as pencils and paper, he or she can enter transactions into an electronic check register. I enter mine into a money app on my phone and sync with my computer later.

Online banking wasn't intended to act as a check register and the bank has no control over the amount that merchants put on hold. It is much simpler and more effectiveto enter your own transactions and track your balance that way.

If you don't use your debit card because overdraft fees frighten you, then perhaps a checking account is not the right product for you.

You wrote about the banks' "illegal behaviors". What are the illegal behaviors?

How is your arm? I'm asking about the one that requires you to ask drive through employees tor each a bit further out to you as you sit in drive-thrus to get a drink.

Are you interested in meeting that guy from Hollywood I was telling you about? You two would make great babies together.

Here is how I do not fear overdraft fees or using my debit card ..

1) I do not write checks.

2) I do not use any type of "auto" bill pay..I pay my bills on my own..when I feel like it..usually at least a week early.

3) Tell the bank you wish to OPT OUT of overdraft protection. Overdraft protection was designed to protect large payments such as a mortgage payment in the event there was insufficient funds..the bank would cover the check for a fee. However..if you use the debit card for lots of every day purchases in lieu of cash..opting out is actually a better "safety" net. Opting out means that the debit card transaction will be DECLINED at any point of sale or ATM if the funds are truly unavailable...hence NO MORE OVERDRAFT FEES.....EVER...period done end of conversation. This way if any kind of "hold" or theft or unauthorized use of your account was to take place..and you were unaware, when the card is declined regardless of the reason..and regardless of what the online statement or your register says...you will not be able to use the card and will have ample opportunity to investigate why you are missing funds..no need to worry about the bank continually ALLOWING the account to overdraft without any notification, no need to worry about the unnecessary re-sequencing to maximize fees if your bank does this..and you can save a potential bundle in fees.

The bad news is the banks will find other ways to profit..since they have proven they CAN NOT do it ethically...but I tell you one thing..they are not going to make one red cent off me from an overdraft fee..that is a given.

For instance, you have a debit card.  We all here know what debit card means.  Its not a credit card, funds must be there to be accepted right?

Run your card, funds are there.  Its good.  Purchase made.  WTF is the GD delay?  Run the transaction.

Case in point.  If you went up to pay for your whatever at Kohls, and it came to 87.00 and you had 44 in your account, it would be DECLINED.  Why?  It contacted your bank and funds werent there to cover it. 

So.  If it cant go thru, cause it knows you're short, then it KNOWS its good at the time of purchase.  Remove the funds then and there.  This is where the banks are fkg all of us.

I apologize for my words, but I'm so sick of this practice.  In this day and age, its just crooked.  Any racetrack/sportsbook online can post winnings and pay/collect in less than 5 minutes.  Its total BS and its got to stop.  I have closed all my bank accounts except for my CD's, and I make money from the bank on this.  I pay my bills online with prepaid reloadable cards.  Car payments and monthly scheduled payments are ok but this gas station and other delay stuff is a RIPOFF.

"Opting out means that the debit card transaction will be DECLINED at any point of sale or ATM if the funds are truly unavailable...hence NO MORE OVERDRAFT FEES.....EVER...period done end of conversation. "

NOPE!  Afraid NOT.  Your statement is WRONG as regards POINT OF SALE transactions.  Your "at ANY point of sale or [any] ATM is INCORRECT.  All the "regulations" from the Fed isn't going to change it either because the INFRASTRUCTURE for real time data transfer/verification DOES NOT EXIST (via the ACH.)

What WILL happen is that merchants (especially small merchants that process BATCHES) will REFUSE to accept bank cards/check cards for purchases altogether.  Got that Ronnie?

The PROPOSED federal rules for notifying the consumer that a POINT OF SALE transaction is going to cause an OD/NSF fee is NOT GONNA FLY -overdrafts will still occur unless the merchant REFUSES to accept the atm/check card altogether.

Your "no more overdraft fees" is wishful thinking at best, or a deliberate attempt to mislead folks at worse.  Either way, YOU ARE MISTAKEN.

 

the FED will be able to 'load' our chips that will be surgically implanted into our bodies, and then the FED can 'load' our chips with the 'digits' (money) so we can buy things at the store, correct?

I stated...

"Opting out means that the debit card transaction will be DECLINED at any point of sale or ATM if the funds are truly unavailable...hence NO MORE OVERDRAFT FEES.....EVER...period done end of conversation. "

You replied...

"NOPE!  Afraid NOT.  Your statement is WRONG as regards POINT OF SALE transactions.  Your "at ANY point of sale or [any] ATM is INCORRECT.  All the "regulations" from the Fed isn't going to change it either because the INFRASTRUCTURE for real time data transfer/verification DOES NOT EXIST (via the ACH.)"

You are misunderstanding the entire point to "opting out" and why the banks are against it. The policies of overdraft protection and re-sequencing were put in place years ago to protect check users..the policies are designed for CHECKS..such as to cover a mortgage payment if there were insufficient funds.

What turned the tables on many customers, and have cost them a FORTUNE in fees..is the banks using these same policies for debit card users.

Now think about it..what does the bank encourage EVERY customer to do?

1) use the debit card for everything

2) enroll in online banking

3) automatically enroll EVERY customer (and many banks never gave a choice) in mandatory courtesy overdraft protection.

4) Resequence and MANIPULATE the TIME and ORDER of transactions.

Put those all together..and it is a recipe for overdraft fee-ing many debit card using customers into the poorhouse.

Agreed, that "currently" there are no provisions for check and ACH transactions if opted out..which can lead to trouble. (there is talk of different policies for check/ACH vs. debit card but for now the consumer must utilize caution)...However if you read MOST of the complaints about overdraft fees on this sight (which is a very very small percentage of victims..most do not report here), they were due the BANK continually allowing the debit card to be used AFTER the account balance reached zero..with no notification in most cases, and then the resequencing compounded it..and as well caused MANY additional fees to incur..even on transactions that DID have the funds available FREE AND CLEAR at the time of the transactions..but the banks manipulations altered the times in order to charge additional fees.

So for example..lets say a customer is opted out. They fall sucker to some on line merchant who charges 49.99 to the card but the customer thought the charge was only going to be 5.99. Now..being opted out can actually "protect" this consumer.

First of all..if there was not 49.99 in the account to begin with..the transaction would be declined..nightmare avoided.

Buts lets say for the sake of argument the account covered the 49.99. The customer thinks the charge is only going to be 5.99 and enters that into the register. Now what happens if this causes the customer to overdraft? Need I say? Not to mention that the bank most likely will continue to allow this card to be used after it is overdrafted..so all the coffee is 35 dollars a cup etc..well we all know the horror stories.

Bottom line is WHATEVER the reason an overdraft was to occur..the transaction WILL BE  DECLINED at a point of sale or an ATM is the funds are TRULY unavalable..regardeless of what the register says..what the decieving untrustworthy unreliable online statement says..regardless of what the teller at the banks says..and regardless of what the bank defenders say...the transaction WILL be DECLINED..and hence NO overdraft FEE is possible. Not too hard to understand no..is it? Or should I type slower?

"What WILL happen is that merchants (especially small merchants that process BATCHES) will REFUSE to accept bank cards/check cards for purchases altogether.  Got that Ronnie?"

I never heard of this one before..but you know what???? That is still BETTER then then getting charged 35 dollars for diapers..and then the bank manipulating transactions. This is a serious recession we are in and people have dangerously low balances..perhaps the merchants should take precautions as well.

"The PROPOSED federal rules for notifying the consumer that a POINT OF SALE transaction is going to cause an OD/NSF fee is NOT GONNA FLY -overdrafts will still occur unless the merchant REFUSES to accept the atm/check card altogether."

I have no idea what you ae talking about. If anyone EVER makes a purchase with a debit or credit card (or even a check these days)..at the time of the swipe the card/check is either accepted..or rejected..right? So what makes anything different with the new policies other then better protecting the customers account..and helping to prevent overdrafting? That is the point to this..you are clutching at straws in a feeble attempt to discredit the changes SO MANY customer have wanted for so long..and they are fair..to the consumers..to the merchant..and to the bank. No one rips anyone off this way..why is it such an issue with you? As far as ach and bouncing checks..always was illegal..and always was forgiven if the customer makes good and pays the NSF fee..if not..they face criminal charges and destroyed credit rating..that is still the case after the changes..consumers must STILL spend and use the account responsibly...only difference..the banks TACTICS will not be in place to fleece the debit card users..so they will find other ways...bet on that.

"Your "no more overdraft fees" is wishful thinking at best, or a deliberate attempt to mislead folks at worse.  Either way, YOU ARE MISTAKEN."

I am not misleading anyone..this is the very words from the banks themselves..do some research before you rebut me please..you are the one horribly mistaken. You do not understand how opting out works at all.

RONNY G. I also agree with Tom Cryer. He's the attorney who won his case against the IRS. Anyone can 'Google' this- TOM CRYER WINS CASE AGAINST IRS, and read all about it.