bank of america BOA BANK OF AMERICA OVERDRAFT FESS SCAM Huntington Beach, California

You need to fully understand how deposits are processed and debits and charges are assessed.

"over the past 2 years we were ripped off by 4 banks, Bank of America ($1290 in total losses), Comerica Bank ($3,780.00 in total) and wells fargo ($470 total), WAMU ($1200) a total of $6,740 in total losses. "

I suggest to you that your banking habits are creating the problem.  It is no coincidence that you are experiencing a high number OD/NSF fees at FOUR banks while the majority of banking clients experience NO OD/NSF fees at all.

It has been a while since I posted my suggestions on how to avoid these fees and I think you will benifit from them.  Please pay special attention to how DEPOSITS are processed and cleared.  I urge you to download the documents I've listed so that you can read what the allowed delays might be.  Good luck to you in the future.

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.

No doubt the banks have made a killing off you. But you let it happen ONCE you were aware they re-sequence transactions to yield additional fees, and have been covering your overdrafts.

Does this mean it's right for the bank to re-sequence transactions? No...and many banks are changing policy. But you let this happen too many times to place all the blame on the banks...fool me once shame on you..fool me twice shame on me...but it seems you have been fooled more then twice..you were not protecting your money.

Now if you were opted out of overdraft protection in writing..you'd have a case. And with that said..I do not believe it is right for the bank to charge ANY additional fees brought on by their manipulations..which apparently you did a print out to prove the fact that they manipulate your statement to maximize fees.  So...how long were you going to let this go on..and with how many banks before you put an end to it, by any means?

see that chart regarding WHO the owners of the Federal Reserve are? You can go to the following link to see it-

'Google' this- SANHEDRIN TRIAL OF JESUS- WIKIPEDIA, you can read this quote:

I have a few suggestions: Do not overdraw your accounts, then the banks can't charge you any overdraft fees. Keep track of your money at all times and make sure you have sufficient funds to cover your debits. Don't sue businesses for your irresponsibility. I have learned this lesson the hard way.

This case is not a "magic bullet" JFK conspiracy..or anything to do with the Jew Jesus Christ.

The poster overdrafted too much..even after knowing the bank was scamming ..and how the bank was scamming . It's that simple. It does not excuse the bank for it's deceptive, manipulative, pilfering...but...if someone is ripping me off over and over and over..at some point I have to share some responsibility for allowing it to happen.

The banks policies are changing soon..all the exposure is what did it..and it will cost the banks. Lets not forget all the pending lawsuits..with all the publicity and congress up their asses...I have a feeling this scam is short lived.

Ronny G,

I told you so. Karl, is nothing but a Bank of America 'Internet Troll'. Google that and see what you find at the top of the search results. Notice Karl's new technique as he interjects with just about every contributor by name. Hey Ronny G, google this... Hey Edward, did Google and see where..... Then he ends his posts by suggesting you read it and ''tell him what you think''. Ronny G, you were fooled just like myself and a lot of others, until I began to see through a very subtle pattern.

Please explain how this subject matter is at all helpful to the author of ANY of these reports? You're left with the conclusion that it's only hurtful as everyone is distracted and off in Never Never Land Googling this, and Googling that. Mission Accomplished, as we forget about the poor author who's waving and screaming. Job Well Done. That's if you feed into it, which is why this will be the last mention of it from me. Because Internet Trolls also feed off attention. Google that as well and see what you find, and 'let me know what you think'.

To be fair, many bank defenders have said my comments are also hurtful and not helpful to the authors of these reports. I can accept that, but it's because of a difference in opinion on the subject matter. That's the key. Whether you agree with me or not, at least I'm directly addressing the subject of the complaint, and not the mating habits of the African Mongoose.

Karl's motto: Not Divide and Conquer, but Distract and Conquer.

What does that tell you about how effective this negative PR campaign has been against the banks as the pull out all the stops?

'CHANGE' for the better, the WORLD needs to know the TRUTH regarding the 'ROOT' of all the problems in this world, wouldn't you agree? And the 'root' of all the problems comes down to one word: GREED!

Unlike Edward..I do not believe to are a Bank of America employee.

However..if your motives are truly to have a positive result...and I have at times defended you...believing you "mean well" and are "against evil".... you have to use some common sense.

The purpose of this site is a place for consumers to post their disputes..claims of fraud and ripoff..or maybe just a place to vent and expose injustice.

These posters expect their posts to be read..and hopefully contribute to a resolution. As well..fair rebuttal is allowed..so the "defendant" is given full rights..and the same means of exposure...a even playing field if you will...to defend themselves..explain..or rebut.

I am sorry but Edward has a point..you are more of a distraction then anything else. I have read many of the things you request to "google"..many before I ever came to this site...some are interesting..some are factual..some are debatable..but most of it will not help the original poster.

Unless they can go back in time..and talk to Jesus..and Martin Luther King...and maybe Rockefeller could show them how to make a few billion dollars and buy the Government..but for now..it's us against them.

This country still allows the right to vote...and the right for people to demand change. Not ask..not hide..not run...not give up..not think doom and gloom about our messed up past..but DEMAND change. And that is how things are done.

No one expects everyone is going to be happy with everything...but as long as scams are continued to be allowed to be exposed on places like ROR...UNFETTERED...the odds for improvement increase.

So if you want to post about engine sludge..kindly do it on a report where the poster has an issue with sludge. It is fair for you to recommend websites to read up on related topics..but when your post are about nothing but these websites..it is distracting..and has caused this site to lose some credibility.

Like the owner of this site..I would never ban you from it..first amendment all the way.. I am hoping reason will work...however I am not unrealistic...I know it will probably do no good and you will just respond back asking me to google the Talmud.

You are certainly not the first to question the logic of the ROR editors to continue allowing Karl to post his musings and damaging the credibility of the site.

Conversely I think it bolsters the site's credibility.

Think about it. The bank defenders can ever argue that the ROR is unfair or biased in its editing, since they allow anyone and everyone to post, as long as it's clean and tactful.

Trust me, I've submitted many posts, in anger, and they never saw the light of day on this site. After I had time to cool off, I realized the Editors had good reason for trashing my post.

The First Amendment is just like God. It protects babies and fools.

the PBS station. I liked the part at the end where Alan Greenspan testified in front of Congress and said that he found a "flaw" in the way the world worked, and he hadn't really taken it into consideration.

What gives BofA the right to show a transaction as pending on one day, then show it as if it had posted the previous day when you check later? If it has posted on a given day, then it should be shown there the day after, not "pending".

They deserve to be sued off their asses. They must be stealing billions by this fraud.

I think it is clear for everyone to see that your gross mismanagement of your finances is to blame; this hardly falls on the shoulders of Bank of America.  As a current customer, I have seen no evidence of any 'fraud' or 'scam' relating to overdraft fees.  When you list 4 seperate banks that you claim defrauded you to the tune of ~$10,000, maybe you need to stop in front of a mirror to see where the problem lies.

The lack of accountability here is disgusting; don't blame Bank of America because you can't manage your money.