• Report: #417576

Complaint Review: Bank Of America

  • Submitted: Thu, January 29, 2009
  • Updated: Thu, January 29, 2009

  • Reported By:albany New York
Bank Of America
www.bankofamerica.com Albany, New York U.S.A.

Bank Of America Unjust overdraft fees Albany New York

*Consumer Comment: Online Banking Statement Not Evidence

*Consumer Comment: QUOTE: 'The 'big shots' keep cashing-in stock........

*Consumer Suggestion: Never pay NSF fees again

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Bank of America is the worse bank ever. I check my account online as well as keep ledgers for my spending. I can check my account 3 days in a row and find 3 different online banking statements. I have started taking snapshots of these occurences as I am looking for a class action lawsuit.

Bank of America customer service reps state" you can't see what we see " and expect that to be a valid argument.

I've checked my account to discover that while all others have cleared and i have one transaction pending , the next day it is all rearranged with the last transaction being cleared first . Some purchases take up to 6 days to post.

I have been complaining about this for months and recently received a mailing with my statement about a class action lawsuit which I do not meet the criteria as the deadline for your account was 12/31/2007.I opened my account in may of 2008 where is my justice.

Bank of america is being bailed out by the government meanwhile they are ripping off their customers.Last year alone over millions in nsf and overdraft fees alone.

albany, New York

This report was posted on Ripoff Report on 01/29/2009 01:58 AM and is a permanent record located here: http://www.ripoffreport.com/r/Bank-Of-America/Albany-New-York-12206/Bank-Of-America-Unjust-overdraft-fees-Albany-New-York-417576. 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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#1 Consumer Comment

Online Banking Statement Not Evidence

AUTHOR: Jim - (U.S.A.)

Your online balance is not evidence of anything and would not be effective in anything actionable against any bank. The online system is merely a tool for you to use to balance your ledger. If you depend on it for the balance in your account - forget it. Your balance is in your ledger. Just keep these facts in mind - all of which are part of your account agreement.

1. Never race deposits to the bank to beat money spent on your ATM card. The bank receives transactions at the speed of light - unless you run faster than the speed of light - you will lose.

2. Deposits will always post after all debits/charges to your account. In other words, don't immediately spend money you just deposited. It's not available and you won't have access to the funds.

3. Never believe for one second the bank has to act in your best interest; they will act in accordance with the account agreement, which is written to protect them. Since all banks do this (not just this one), this is a universal theorem that must be followed.

Banks generally win class action lawsuits, so I wouldn't be too distraught about not being a part of the one you didn't qualify for. The only one the banks lost recently had to do with disclosure of policy - it took quite a few years for the case to go to trial and each class member received the equivalent of one overdraft fee ($35) as part of the settlement.
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#2 Consumer Comment

QUOTE: 'The 'big shots' keep cashing-in stock........

AUTHOR: Karl - (U.S.A.)

A CRASH is soon coming I fear.' 5-23-2008

To read that quote from 5-23-2008, which is the '4th Quattrain' of 'FIX AMERICA POEM', simply 'Google' this- RIP OFF REPORT TOYOTA MOTOR CORPORATION USA MANIPULATION, and go to the Updates section and you can read the rest of that poem.


P.S. Guess what? The 'CRASH' came, didn't it?

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#3 Consumer Suggestion

Never pay NSF fees again

AUTHOR: Scott - (U.S.A.)

You will never pay NSF fees if you do not spend more than you have. It won't matter how the bank arranges debits, as long as the funds are there to cover all the transactions before the transactions are made. It won't matter how soon or long it takes a business to post electronic payments if you have a positive balance.

The bank gave you a booklet when you opened the account that explains how it posts transactions and what will happen if you overdraw your account. Nearly every bank operates the same way.

**I do not work for or have an account with Bank of America. I also do not pay NSF fees because I do not overdraw my account. I've educated myself on how my bank posts transactions and I keep a detailed ledger for every transaction at the time I make the transaction.
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