Why anyone would defend Bank of America is beyond me. They must be people who have a little cash in the bank. And I can understand if that is so, because Bank of America targets those who only have small amounts in their accounts OR people like me (a disabled retiree) who have their Social Security and Pention checks "DIRECT DEPOSITED" into the bank each month and living from "check to check".
My problem with Bank of America is how they try to justify charging fee on "PENDING" transactions (this is how they steal billions of dollars every single month, with no retribution from the law, this is a WHITE COLLAR CRIME):
I have talked to FOUR local bank managers and NOT ONE OF THEM were able to explain to me how they are able to charge $35.00 on a "PENDING" transaction that the merchant has 72 hour to except. In other words, if the merchant has NOT YET excepted the charge that they put on hold, "how can you charge me $35.00 for that charge until it is excepted by the merchant and posted to your account"? One manager said the $35.00 is for "the bank's promise to pay the merchant", but then he had to admit 'no, that really doesn't make sense', I aggreed with him, it does not make sense. If the bank have not yet paid the merchant, then why is the bank charging me $35.00. I asked him, 'If I promise to pay you $100.00 for your services, at what point do you consider the transaction binding so that any action can be taken, WHEN I MAKE YOU THE PROMISE or WHEN I HAND YOU $100.00"? He said, 'I see what you mean, but I am only following instruction." If you are a Bank of America customer and this is happening to you, your money is being stollen GET OUT NOW!!!!
Also there is a double standard when it come to this scam: If you have a deposit that is "PENDING", you don't get credit for it if you make a purchase against that "PENDING DEPOSIT" Tell me how can Bank of America have it "BOTH WAYS". IF I CAN'T GET CREDIT FOR A PENDING DEPOSIT - HOW CAN BANK OF AMERICA TAKE CREDIT FOR A PENDING TRANSCATION - "PENDING IS PENDING". The truth is THEY CAN"T and SHOULDN"T but THEY DO! Now you tell me how that is lawful!!!!!!!
Well they won't have to worry about me any more, Bank of America have stollen their last dime from me - I am moving to a Credit Union this week. I wish the rest of you Bank of America SUCKERS well. PEACE!!!!!!!