- Report: #499596
Complaint Review: Bank Of America - BofA
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Bank Of America - BofA Debit Card "courtesy" Fee Trap RipOff Internet
*Consumer Comment: Chuck, If you.....
*Consumer Comment: Ronny G, Maybe an encore presentation of- HARVARD PROFESSOR POEM will help you put your finger on it.
*Consumer Comment: Karl, I take back what I said..
*Consumer Comment: RONNY G & EDGEMAN, HAVE BOTH OF YOU....
*Consumer Comment: Edgeman..
*General Comment: Does anybody realize...
*Consumer Comment: CHUCK, Have you 'Googled' this- BANK BAILOUT PROBLEM: NO EASY ANSWERS, and read that article yet?
*Consumer Suggestion: response
*Consumer Comment: BofA check card purchases authorized on overdrawn account
*Consumer Comment: "free"?
*Consumer Comment: Not Necessarily
*Consumer Comment: Expect more fees for things now free.
*Consumer Comment: The banks policies are changing soon..
*Consumer Comment: Anyone can 'Google' this- RIP OFF REPORT WELLS FARGO BANK OUTRAGEOUS FEE RIP OFF SAN FRANCISCO, and see Lisa with her PICKET SIGN outside a Wells Fargo bank in....
*Consumer Comment: CHUCK, YOU CAN STAND OUTSIDE YOUR BofA BRANCH WITH A PICKET SIGN THAT SAYS THIS: Go to Ripoffreport.com and type in- BANK OF AMERICA.
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Although I have requested a number times, to date Bank of America has not allowed me to opt out of overdraft use of my debit card, as I have with credit cards companies.
Any time I use a card of any type I expect to be declined subject to account limits/balances. I do not recognize nor require any so called 'curtosity' which creates a situation where overage fees are incurred.
In particular, I recently incurred a total of $45.00 in fees for 0.57 cent (for total 4.28 purchase) Aside from an unaccounted $12 monthly service charge on my "free" checking account which contributed to the timing of the oversight, to be charge $10 dollars & then additional $35 'extended fee' for a 57 cent overage?!?!?!?!? The refund of $18 in response to my complaint is insulting and far from satisfactory.
(cue sound: straw breaking camel's back)
Similiarly, I ultimately incurred without mitigation $115 in fees parcipitated by a $1.96 debit card overage in late July early August when I first requested to opt out. I'm sure a case can be made for still another $35 fee incurred as I tried to catch up with the flood of fees.
Aside from the fact that I've had over $500,000 (inheritances, business sale, salary, etc.) go through my accounts in recent years, aside from a twenty-five year plus previous banking 'relationship' prior to BofA, managing my accounts without being overdrawn for decades!... unfortunately my current situation has me keeping unusually low balances in my personal account in deference to my business needs.
I been ripped off for at least $195 in fees for a .57 & a 1.96 overage to should have been avoided by my AND BANK OF AMERICA!!! That's a significant amount of money for me to use otherwise!
As such I have closed and/or suspended any relationships I have with BofA until this money is ALL returned to me. And I will write, record, send a press release and/or tell this story to anyone I meet including my elected representatives, consumer reporters, regulators, better business entities, and websites like this.
Similarly, I will boycott/not accept any BofA cards in my place of business until I receive satisfaction.
EVERY BANKING RELATIONSHIP I'VE HAD PRIOR HAS DETORIATED SINCE BEING TAKEN OVER BY BANK OF AMERICA... My former MBNA credit card relationships now suck ... the closing of four convenient area neighborhood branches (red lining?), and now my checking account fees entrapment.
PLEASE WHERE'S THE CLASS ACTION SUIT FOR THIS ONE?!?! SIGN ME UP!!!
This report was posted on Ripoff Report on 09/23/2009 09:34 PM and is a permanent record located here: http://www.ripoffreport.com/r/Bank-Of-America-BofA/internet/Bank-Of-America-BofA-Debit-Card-courtesy-Fee-Trap-RipOff-Internet-499596. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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***GLOBAL ALERT: "PROTESTER SONG 9" was submitted at this website on November 30, 2011. Just type in 271454 to see if it is available in the consumer comments section at Ripoff Report #271454.
POWER TO THE PEOPLE
#2 Consumer Comment
Ronny G, Maybe an encore presentation of- HARVARD PROFESSOR POEM will help you put your finger on it.
AUTHOR: Karl - (U.S.A.)
SUBMITTED: Tuesday, September 29, 2009
#3 Consumer Comment
Karl, I take back what I said..
AUTHOR: Ronny g - (USA)
SUBMITTED: Monday, September 28, 2009
Seems on the surface to be unbiased and very informative. However it also seems to be missing something that I can't put my finger on. I have to watch it again.
#4 Consumer Comment
RONNY G & EDGEMAN, HAVE BOTH OF YOU....
AUTHOR: Karl - (U.S.A.)
SUBMITTED: Sunday, September 27, 2009
Anyone who continually overdrafts by intent or carelessness (and if they choose not to opt out of overdraft protection) is of course increasing their chances of incurring fees.
The changes are only in hopes of better protecting the good customers money..nothing unreasonable and no system will ever be perfect..because people are not perfect..and the world is not perfect...the banks will still have plenty of opportunity to charge fees. But perhaps by all this exposure some people that were not fully aware of how the system works..will understand and be given the choices which can best protect their money.
For myself..and MANY other bank customers that have reported here..we would have saved a bundle in fees if the card was simply declined if the account did not have the funds...we didn't want the loan but the banks "courtesy overdraft protection" is nothing more then a "pre-authorized loan" in the banks eyes..and THAT is how THEY were getting away with it...the banks (such as BofA) that forced this service onto their customers as "mandatory"..in many cases are just as "guilty" as a customer that overdrafted a single transaction..expected a single fee..but got hit with hundreds of dollars in fees..they had no intent of ripping off the bank..and quite the contrary was the result.
#6 General Comment
Does anybody realize...
AUTHOR: Edgeman - (U.S.A.)
SUBMITTED: Sunday, September 27, 2009
Join up with those of us who choose not to pay overdraft fees and keep your money where it belongs - with you.
#7 Consumer Comment
CHUCK, Have you 'Googled' this- BANK BAILOUT PROBLEM: NO EASY ANSWERS, and read that article yet?
AUTHOR: Karl - (U.S.A.)
SUBMITTED: Sunday, September 27, 2009
#9 Consumer Comment
BofA check card purchases authorized on overdrawn account
AUTHOR: Lisap4343 - (USA)
SUBMITTED: Saturday, September 26, 2009
I understand how this can happen when an account has a positive balance to begin with but this account was overdrawn for at least 72 hours......why would ANY purchase be authorized at this point CLEARLY THERE IS NO MONEY IN THIS ACCOUNT
Do they "extend credit" to all overdrawn accounts just so they can collect a few $35 NSF fees? I can't get anybody to tell me why these purchases were authorized...
I can bet most of the customers that reported here would have gladly paid a fee for checking if they knew how much it was really going to cost them in the long run. And I would trust the banks are aware of this..I mean why would they do anything for free if it wasn't going to give them a profit in the long run? They are a business right? And a rather shrewd one if I say so myself.
Why would anyone with a decent income mind to pay a small fee for checking..if it could really help lower income people from being wiped out? I mean laws and business and even ethics aside..do we really want to be a society that has no compassion or willing to sacrifice a tiny bit to help the needy?
And as Edward stated...and is 150% correct..the habitual offenders who consistently overdraft and blame everyone else..will probably not opt out of the protection..and probably continue to overdraft again and again.. they deserve what they get as long as the bank is not violating any laws or using unethical tactics.. the bank can fee the crap out of those types of people until they learn.
#11 Consumer Comment
Not Necessarily
AUTHOR: Edward - (U.S.A.)
SUBMITTED: Friday, September 25, 2009
To Robert. According to some, those who overdraft will probably continue to do so, no matter what the policy is, and no matter where they bank. So this means even after these new policy changes, the same old overdrafters will still contribute to the bank's bottom line with OD fees. Thereby protecting your precious free checking. That's if you believe the all of the condescending comments routinely issued on this site and others.
To the OP Chuck. You should feel privileged. According to those same skeptics and critics, customers who overdraft, like yourself, are in a very small percentage group. While the majority of customers have no problems with their banks accounts.
So Chuck, you should feel privileged that the bank would revise it's policies, just throwing away billions of dollars in profits, all for little old you. Now don't you just feel special?
#12 Consumer Comment
Expect more fees for things now free.
AUTHOR: Robert - (U.S.A.)
SUBMITTED: Friday, September 25, 2009
With the possibility of OD fees being regulated, I would expect to also see the end of free checking and services.
Expect to see monthly service fees for checking accounts as well as per check charges, minimum balances and charges for online bill pay. Just like the old days of checking accounts.
Thanks alot congress.
#13 Consumer Comment
The banks policies are changing soon..
AUTHOR: Ronny g - (USA)
SUBMITTED: Friday, September 25, 2009
Now, I can't say you don't hold any responsibility..and I think you understand that..but either way..the banks tactics worked in their favor..how??
You stated it yourself..by having difficult financial times..your account balance was low..so of course you are more likely to overdraft..and more likely to suffer greater hardship due to it. Think the banks are aware of this? If they weren't we could say they were pretty ignorant..right? But we can't say that..so there in all logic must have been some intent..possible? Nah, the banks would never mislead their customers with intent now..would they?
With that said..aren't you glad you had overdraft protection? Tell us..how well did it protect you from any overdrafts..regardless of the reasons they occurred?
Sarcasm aside..can you understand why the bank did not let you opt out? Because if they had..most of that money would have remained yours..and not theirs. The banks know we are on to this game..and we are coming for them..so they are starting to implement reasonable changes..and perhaps one day the banks will actually be what they once were..a safe place to keep our money.
#14 Consumer Comment
Anyone can 'Google' this- RIP OFF REPORT WELLS FARGO BANK OUTRAGEOUS FEE RIP OFF SAN FRANCISCO, and see Lisa with her PICKET SIGN outside a Wells Fargo bank in....
AUTHOR: Karl - (U.S.A.)
SUBMITTED: Thursday, September 24, 2009
#15 Consumer Comment
CHUCK, YOU CAN STAND OUTSIDE YOUR BofA BRANCH WITH A PICKET SIGN THAT SAYS THIS: Go to Ripoffreport.com and type in- BANK OF AMERICA.
AUTHOR: Karl - (U.S.A.)
SUBMITTED: Thursday, September 24, 2009
