• Report: #287030

Complaint Review: Bank Of America

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  • Submitted: Tue, November 27, 2007
  • Updated: Sat, June 28, 2008

  • Reported By:Copperas Cove Texas
Bank Of America
bankofamerica.com Copperas Cove, Texas U.S.A.
  • Phone:
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  • Category: Banks

Bank Of America Fee Rip Offs Continue Copperas Cove Texas

*Consumer Suggestion: Bank of America and their fees.

*Consumer Comment: More Useless and Generic Advice

*Consumer Suggestion: So you don't like Banks

*Consumer Comment: And This is Where We Agree

*Consumer Comment: And This is Where We Agree

*Consumer Comment: And This is Where We Agree

*Consumer Comment: And This is Where We Agree

*Consumer Comment: Unfortunately Edward...

*Consumer Comment: Unfortunately Edward...

*Consumer Suggestion: All the banks have to do

*Consumer Comment: Great Point Striderq

*Consumer Comment: But Edward...

*Consumer Comment: Alas You Have Seen The Light!

*Consumer Comment: Simple solution...

*Consumer Comment: Jim You Are Right about the 'BALANCES'

*Consumer Comment: Edward - I just Keep Wondering

*Consumer Comment: You're Indirectly Agreeing With The OP

*Consumer Comment: It matters not if he mentioned it or not........

*Consumer Comment: This Was The Bank's Fault - Here's The Proof

*Consumer Comment: In spite of all the 'heat' here' I will add a prediction:

*Consumer Comment: It IS Christmas Eve, Edward. Therefore, since you ask, I will answer...

*Consumer Comment: Edward - Normally, I Agree With You

*Consumer Comment: RE: Edward's suggestion...

*Consumer Comment: RE: Edward's suggestion...

*Consumer Comment: RE: Edward's suggestion...

*Consumer Comment: RE: Edward's suggestion...

*Consumer Comment: Example of My Suggestion

*Consumer Comment: Wayne, you're right...

*Consumer Suggestion: A Couple of Suggestions

*UPDATE Employee: It's All the Same

*Author of original report: Why I will no longer read some responses.

*Consumer Comment: Say it isn't so, Wayne...

*Consumer Comment: The banking rules have changed...for the worse

*Consumer Comment: Ha Ha Ha.

*Author of original report: Enough!

*Consumer Comment: Good For You Margaret

*Consumer Comment: I HATE TO BURST YOUR BUBBLE BUT..

*Consumer Comment: Show Me The Terms and Conditions!

*Consumer Comment: Sorry to hear

*Consumer Comment: Welcome to Wells Fargo

*Author of original report: Thank You

*Consumer Comment: CASH IS SUPPOSE TO POST IMMEDIATELY

*Consumer Comment: Now YOU Can't Read

*Author of original report: Still can't read

*Consumer Comment: Documents Don't Matter If the Bank Says They Don't

*Author of original report: I have already dealt with this and suggest that others do the same.

*Author of original report: I have already dealt with this and suggest that others do the same.

*Author of original report: I have already dealt with this and suggest that others do the same.

*Author of original report: I have already dealt with this and suggest that others do the same.

*Consumer Comment: Wayne - Not Correct

*Author of original report: Not NOT TRUE

*UPDATE Employee: Not true

*Consumer Comment: Debit Card World

*Author of original report: Never Again

*Consumer Suggestion: Arent they warm and fuzzy?

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Bank of America continues to charge fees for their late deposit processing. The process is simple for them.

Deposits make on Friday do not appear on your account until Monday or Tuesday. (This applies to CASH and CHECKS) Any money that you spend using your debit card on the weekend is INSTANTLY posted, making you overdraw your account. BofA gets $35.00 for each transaction and you get the shaft.

This is not the first time that this has happened to me, it will be the last. Others here have reported the same RIP-OFF!

Keep away from BofA. I will be moving the account this week.

Wayne
Copperas Cove, Texas
U.S.A.

This report was posted on Ripoff Report on 11/27/2007 07:10 AM and is a permanent record located here: http://www.ripoffreport.com/r/Bank-Of-America/Copperas-Cove-Texas-76522/Bank-Of-America-Fee-Rip-Offs-Continue-Copperas-Cove-Texas-287030. 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 Suggestion

Bank of America and their fees.

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

Bank of America and their fees are the highest I have ever seen in any bank.

Using a different ATM/Debit card/credit card other then BOA cards. They charge $3.00+ depending on where you are. and including the charges of your bank.

Now even on the ATM and sometimes in very small print in the bank next to tellers there is a little saying "Deposits may not post until the next business day" . So Friday is a Holiday but the bank is open but Monday is a holiday and the bank is closed. You put the money say on Thursday after 3.00 pm. so the money will and might not be posted until Wed.

That is what a "pending transaction" Means the money is in the bank and waiting for the system to accept it.

For overdraft protection use a linked Savings account. There should only be around a $10.00 fee if the savings account has enough money to cover the overdraft. It saves my back side and my wallet a few times.

Now fees are the highest I have seen here. the $35 fee. A $25 returned check fee, and another type of NSF fee of around $40. So even if you are $1.00 short you are socked with all those fees. Then you wonder why the account is Overdrawn.

Now on-line banking tip. Go to the banks website and check on how may things are
Pending. The account may say you have the money in their but do not believe it.

What until the money, checks, and payments have "Posted" and that way you will save your back side. Most banks will let you sign up for alerts. Use them, they work to help you maintain a + balance.

keep the ledger up to date down to the last red cent. and every time you go on-line to see pending write on the above line "Pending" and the date it is pending.

ATM machines sometimes takes weeks for the system to add to your account.
Do not have enough money to clear a check, it will take up to 7 days to clear and the "Real" Money to be transferred to the bank.
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#2 Consumer Comment

More Useless and Generic Advice

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

This becomes funnier by the moment, but why is it not surprising? Hey Striderq, do you remember what I said earlier about GENERIC and OFF BASE advice based on assumptions that had nothing to do with what probably happened? Ok, it's logical this might occur from earlier posts. But even after it's becoming more apparent what PROBABLY happened, now afterwards, STILL more of the same.

There you have it Wayne. YOU need to take your own money, put it in a jar and keep it at home from now on, simply because a BANK EMPLOYEE made a mistake.

What does a programming formula have to do with a BANK EMPLOYEE giving an incorrect answer? Please explain where the Terms and Conditions state that customers are signing and agreeing to allow BANK EMPLOYEE to LIE to them?
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#3 Consumer Suggestion

So you don't like Banks

AUTHOR: Tell Me About It!!!!!!! - (U.S.A.)

My suggestion to all who complain about "Banks over-draft fees". Take your money out of the bank, put in a jar inside your own house and operate off cash going forward.

I work for a small community bank and I hear the same thing from clients all day long on how the banks are ripping them off. No one makes you bank with them, and if you don't have enough money to live off of STOP SPENDING WHAT YOU DON'T HAVE.. The banks have spent alot of money to detect clients who try to scam them out of money. So what makes you think that you are smarter than the dozen of programmers who program for every situation.

Banks are not out to get you, it's a business people, plan and simple. The funny thing is that when you signed up for your account you received a document about Terms and Conditions, and Funds Availability. Theses are required by the Federal Government for each bank. If the banks do not follow these guidelines then the FED will shut them down.

It seems that the wrong person or persons are being blamed here. It's your fault you manage your account better and because you do so you're penalized for your own stupidity. If you get pulled over for speeding do you blame the car manufacture for making a car that goes faster than the speed limit? No, and you shouldn't blame the bank for charging you for you not keeping up with the amount of money in your account. Don't like the way banks run their business, take your money and leave. No one makes you stay.
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#4 Consumer Comment

And This is Where We Agree

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

You are exactly right Striderq. The key word is 'Unfortunate'. Yes indeed it is.....unfortunate that a customer will ask the EMPLOYEE a question and the employee knowing full well what the customer means, but yet the employee gives the customer an INCORRECT answer.

Then the customer goes and checks their balance online or via ATM and the way the balance is displayed seems to CONFIRM what the employee told them. But then UNFORTUNATELY (there's that word again), after numerous OD fees later the customer finds out the truth.

Unfortunate Indeed!
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#5 Consumer Comment

And This is Where We Agree

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

You are exactly right Striderq. The key word is 'Unfortunate'. Yes indeed it is.....unfortunate that a customer will ask the EMPLOYEE a question and the employee knowing full well what the customer means, but yet the employee gives the customer an INCORRECT answer.

Then the customer goes and checks their balance online or via ATM and the way the balance is displayed seems to CONFIRM what the employee told them. But then UNFORTUNATELY (there's that word again), after numerous OD fees later the customer finds out the truth.

Unfortunate Indeed!
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#6 Consumer Comment

And This is Where We Agree

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

You are exactly right Striderq. The key word is 'Unfortunate'. Yes indeed it is.....unfortunate that a customer will ask the EMPLOYEE a question and the employee knowing full well what the customer means, but yet the employee gives the customer an INCORRECT answer.

Then the customer goes and checks their balance online or via ATM and the way the balance is displayed seems to CONFIRM what the employee told them. But then UNFORTUNATELY (there's that word again), after numerous OD fees later the customer finds out the truth.

Unfortunate Indeed!
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#7 Consumer Comment

And This is Where We Agree

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

You are exactly right Striderq. The key word is 'Unfortunate'. Yes indeed it is.....unfortunate that a customer will ask the EMPLOYEE a question and the employee knowing full well what the customer means, but yet the employee gives the customer an INCORRECT answer.

Then the customer goes and checks their balance online or via ATM and the way the balance is displayed seems to CONFIRM what the employee told them. But then UNFORTUNATELY (there's that word again), after numerous OD fees later the customer finds out the truth.

Unfortunate Indeed!
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#8 Consumer Comment

Unfortunately Edward...

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

The tellers often times just answer the question with the simplest answer and not the complete information. Many times I have talked with customers who made a deposit after cutoff and asked the teller "Is my money in my account?" to which the teller answers "Yes". Unfortunately the correct answer should be "Yes, but it's not available to you until tomorrow due to the deposit being made after cutoff". Tellers like a lot of other customer service people will sometimes answer the short answer to keep the customer from being upset at them.
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#9 Consumer Comment

Unfortunately Edward...

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

The tellers often times just answer the question with the simplest answer and not the complete information. Many times I have talked with customers who made a deposit after cutoff and asked the teller "Is my money in my account?" to which the teller answers "Yes". Unfortunately the correct answer should be "Yes, but it's not available to you until tomorrow due to the deposit being made after cutoff". Tellers like a lot of other customer service people will sometimes answer the short answer to keep the customer from being upset at them.
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#10 Consumer Suggestion

All the banks have to do

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

All the banks have to do is decline the card if a transaction is tried when there is no money for it. It is impossible to keep up with all the different "situations" where you might have a delay in posting a transaction (I still have not figured it out). That way people will not get mad and not be charged $35 for a $3.78 meal at Mcdonald's. I have an account at Chase, and I will deposit cash and I'll be told it is available immediately, and I'll even look it up on the computer, and then come monday, the status has changed and then they take money out of my overdraft and charge me $10 for the priveledge. Then about wednesday they will take the overdraft out of my checking account and leave the fee. Well seems I had an extra $150 in there I will likely have spent some of it and so then they sock you with $35.
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#11 Consumer Comment

Great Point Striderq

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

Touche on your last point Striderq. I can't argue with that. However even though the author didn't specifically mention whether the deposit was made before cutoff, I can also read his later updates when he mentions what the employees said and all of their explantions ONLY mention the out of state reason. None of them mention the fact that it was made after cutoff either.

The point is, if in fact the deposit was made after cutoff, and if in fact the employees would have told Wayne this, then he wouldn't have any reason to update saying that they ONLY mentioned the out of state explanation.

But I agree with you. Yes it can go both ways. But the reason I reach my conclusion is because of how all of the pieces fit. Wayne asks the teller, she gives him the answer. No mention by the teller of the deposit being made AFTER cutoff. Then Wayne goes back and asks why didn't things happen like the Teller said. Still no mention in the employee explanations that it didn't happen like the Teller said because it was made after cutoff.

So even though Wayne didn't specifically say this, it seems HIGHLY likely that it would have come up in at least ONE of the employee explanations later on. The ONLY thing mentioned is the out of state excuse.
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#12 Consumer Comment

But Edward...

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

Look at the fact that Wayne has not jumped in and said "Hey my deposit was before cutoff" even though many have posted that the deposit was after cutoff. I would think that if it was before cutoff then he would have posted this a lnog time ago. but since he hasn't and using your logic from other posts, then that must mean that he can't refute that the deposit was after cutoff and he caused this to himself.
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#13 Consumer Comment

Alas You Have Seen The Light!

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

I do believe Hell is about to freeze over if Striderq is agreeing with me. I give you credit for FINALLY realizing what I've been saying for days. But look at HOW LONG and HOW MANY POSTS it took for you to realize this? This is precisely why persistence is sometimes necessary. I digress.

Now look back and re-read all of the GENERIC comments made BY EVERYONE after this ASSUMPTION. When all they had to do earlier is what you have FINALLY done, simply ask that simple question. Then all of this GENERIC and BASELESS advice could have been prevented.

And by the same token, if in fact Wayne reveals that the deposit INDEED was made AFTER CUTOFF, then of course I would AGREE with everyone else. Because as everyone has already said, which I already knew anyway, whenever you make a deposit on Friday after cutoff, it will not post until Monday, or Tuesday if Monday is a Holiday.

See how easy that is? But look at how difficult it ended up being because of a RUSH TO JUDGEMENT. This is a common pattern on many threads.
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#14 Consumer Comment

Simple solution...

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

Wayne, what time did you make the deposit? was it before or after cutoff time? If you have your receipt it should show the effective date of the deposit, the date the money will credit to your account.

Edward I do agree that the assumption in tis post was about the deposit and the time it was made. But Wayne did not step up and say it was before cutoff. so it being after cutoff is a logical assumption, but still an assumption. maybe this will help answer the question.
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#15 Consumer Comment

Jim You Are Right about the 'BALANCES'

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

It does come down to 'available balance' and 'account balance'. And I'm saying that many banks are capitalizing on these interchangeable terms. In the old days there was only ONE balance. I understand times are different now with debit cards, check21, etc. Therefore because things are done differently, the banks felt compelled to change how things are DISPLAYED online and via ATM. However, many of the Deposit Agreements have not been updated to reflect this change. And I submit that this has NOT been done purposely.

If you put the pieces together here, to me it's obvious. Wayne was quote - 'TOLD BY THE TELLER THAT cash DEPOSITS POST RIGHT AWAY'. We can dance around this if we choose but I'm fairly confident the teller understood that Wayne was asking if this cash would post IMMEDIATELY and be AVAILABLE for him to use IMMEDIATELY. The teller told him, yes it would. Why? Because the teller saw that Wayne was depositing CASH, and the desposit was being made BEFORE CUTOFF, so the teller didn't see any reason that would cause this cash deposit not to immediately post and be immediately available.

The ripoff here is the teller missed something. The teller apparently didn't realize that Wayne was depositing to an out of state account. So once Wayne went back and asked them what happened, he's now given the REAL reason why this happened. The problem is, he wasn't told beforehand. That's the ripoff here.

Happy New Year!
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#16 Consumer Comment

Edward - I just Keep Wondering

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

...whether the interpretation between "account balance" and "available balance" would be relevant in answering Wayne's question because Friday after cut-off would most certainly apply in this case. There is no question if the money is deposited into the account on a Friday (even after cut-off) would be in the account. So when the question is asked whether the money is in the account, the answer is, "yes, it's in the account", and the customer interprets as available to use right away since it is "in the account". However, what the employee is not communicating is that the deposit is not available Friday after cut-off, and that to me is a problem.

Banks have some responsibility in educating their customers - not forcing them to read fine print. I know this may sound like a departure from previous positions I've taken, but I've been thinking about this whole mess regarding debit cards and the bank has dome little to nothing to educate the consumer about the pitfalls of debit cards. If they're going to hand this little tool out and tell people all of the nice things they do - they have some level of responsibility in educating people about (1) the pitfalls of debit cards, (2) checking online for your account balance is bad management, (3) posting order, (4) I could go on and on.

I even think with the tons of money they're making in this regard - they should reinvest the money in classes for their customers. Sort of like when the state earns money from gmbling enterprises, they then offer courses on breaking the gambling addiction - payment for those courses comes from the revenues of gambling. I don't know - it's just a thought. I'm getting tired of telling people of the pitfalls of debit cards, when it is something the bank should be telling them...

Happy New Year.
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#17 Consumer Comment

You're Indirectly Agreeing With The OP

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

Faron, You now agree with the OP. A Friday deposit made BEFORE CUTOFF should post on FRIDAY, no if's, and's or but's. Welcome to the club.

That's the question Wayne has been trying to get an answer to. Let me repeat to you what I said earlier. If it was that SIMPLE, why wasn't that the answer given to the NUMEROUS questions that Wayne asked NUMEROUS bank employees afterwards.

So not only did the OP not mention it. The bank employees didn't mention it either.....because that's not what happened.
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#18 Consumer Comment

It matters not if he mentioned it or not........

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

You are not going to make a cash deposit on a Friday and have it not show up in your posted activity. The bank would only realize their error if the deposit was before the cutoff.
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#19 Consumer Comment

This Was The Bank's Fault - Here's The Proof

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

Ok. Let me re-hash for everyone. Many of you are making the statement about deposits made after cutoff on Friday, cash or check. And the fact that these deposits will not post until Monday. I AGREE with you. Ok? The statement you have made is totally true....... IN THEORY!

HOWEVER. As is the case on MANY THREADS, many of you make ASSUMPTIONS, then from those ASSUMPTIONS, you proceed to make statements, WHICH ARE TRUE, but DO NOT pertain to the OP. Now, can everyone PLEASE go back and review this entire thread and please point out to me where THE AUTHOR himself said the deposit was made after CUTOFF?

Once you're done reviewing this and you come up empty, I suggest you go back review the thread again and this time I'll point it out to you. First look in THE AUTHOR'S post titled 'Not NOT TRUE' where the author asked the bank why the cash didn't post immediately. The bank's reply was because it was an out of state account. The bank did not tell THE AUTHOR your deposit didn't post because you made it AFTER CUTOFF.

Then continue on with your review and take a look at THE AUTHOR'S update titled 'Why I will no longer read some responses', where he REPEATS and CONFIRMS this in item #6 which says they did not post the cash and made an adjustment to the account because the account is in Arizona.

Now. As far as the author's banking habits, he ONLY checked his balance via ATM to CONFIRM that what the TELLER told him was true about the CASH posting IMMEDIATELY. What the TELLER told him was wrong and THE BANK told him the correct answer AFTER THE FACT.

This is the reason his problem was the bank's fault.
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#20 Consumer Comment

In spite of all the 'heat' here' I will add a prediction:

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

If OP would cut up (all of) his debit cards and use ONLY cash, checks, and credit cards, 99% or more of his problems will disappear. And his "40 years of banking experience" will once again have relevance.

I do NOT use any debit cards. I never have, and I never will. Debit cards have NO mandated protections. Credit cards DO have mandated protections!

And I have... ummm... various accounts at 6 different banks, 4 credit cards (none with a balance), 4 active checking accounts, and NO problems. And everybody wants my banking business.... I even get offers for new credit cards every week. They must think I know how to handle money..... well... handling money is easy if you DO NOT use debit cards.

Does this sound like an echo of "Jim from Aniheim"'s comments? If so, too bad!
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#21 Consumer Comment

It IS Christmas Eve, Edward. Therefore, since you ask, I will answer...

AUTHOR: Truth Detector - (U.S.A.)

'So I ask, why couldn't the employee have given you that CORRECT answer before the deposit was even MADE?'

I suspect that the bank employee had justifiably assumed that any adult with a functioning brain could READ the sign undeniably posted everywhere that states the FUNDS AVAILABILITY POLICY of the bank and the cutoff time for ALL deposits...cash or otherwise. But then again, businesses tend to conceal information like that on signs and literature with WORDS, not pictures.

I realize that you are fixated on ragging on this bank no matter what. Therefore, I will present you with indisputable facts that the OP was 100% in the wrong here:

This is a direct quote from the OP:

'Bank of America continues to charge fees for their late deposit processing. The process is simple for them.

Deposits make on Friday do not appear on your account until Monday or Tuesday. (This applies to CASH and CHECKS) Any money that you spend using your debit card on the weekend is INSTANTLY posted, making you overdraw your account. BofA gets $35.00 for each transaction and you get the shaft.'

Notice how he explicates his situation by stating that BOA MADE him overdraw his account. Funny, but I do not recall ANY bank ever MAKING anyone do anything. He makes mention of the 'late' deposit posting - when in fact it was his failure to deposit funds in an expeditious manner per both the Terms and Conditions of his account AND the explicit policy of the bank plastered everywhere in the lobby and outside the drive-up windows that led to his demise.

Look pal, there is nothing wrong with being on a crusade. But when you take the part of the irresponsible dolts who are looking for nothing more than a mommy to whine to, you lose credibility with each rebuttal. Save your outrage for those who are actually ripped off, not for crybabies like this.
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#22 Consumer Comment

Edward - Normally, I Agree With You

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

But this entire issue was caused by the OP - and it was preventable. He made a deposit on a Friday after cut-off. Expecting a Cash Deposit would post immediately, he spent the money. Unfortunately, no bank will process immediate deposit transactions on a Friday after cut-off (cash or not) and they haven't for more years than I can count. The OP then started using his Debit Card as if the money was in the account. The root of his problem is the Debit Card; if he held his cash and spent some of it, instead of depositing it, or wrote checks - this would not be an issue because he could ride the float through the weekend.

As you know from my prior posts, I have a lot of problems with debit cards because of the NSF fees consumers incur through their usage, and I think you do as well. Debit Card transactions are the only transactions the bank recognizes (other than ATM withdrawls) on a weekend. They don't recognize deposits into an account - nor do they recognize checks clearing an account. So if a person makes a deposit on a Friday after cut-off - that money is not going to be able to be accessed, but the spending sure will be picked up. Whoever invented the debit card pariah is one rich person..... and the consumer has been crying ever since.

Now, I also question the OP's banking habits since he never would need to check his account balance with an ATM if he truly balanced his account on a written register; each time he does that, it costs him more money as well.... The only reason one would ever need to check an account at an ATM or online is to determine if there are fraudulent transactions or bank fees the account holder may not be aware of. Like you, I am glad he left BofA - I simply hope the OP learned something from what happened, however his letter-writing about my alleged attacks seems to indicate otherwise.

Happy Holidays Edward....
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#23 Consumer Comment

RE: Edward's suggestion...

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

Actually NO. Again the deposit was made after cutoff time (mentioned by the employee and shown on the deposit slip, online would have shown processing and the date). But the money was used before it was in the account and available. So I guess my "GENERIC comment" has validity.

And while some of the "POSTER BOARD" comments help explain the fees and how to avoid them, Edward's are just "you right the banks are evil and ripped you off". An attack, no, just stating the way things are.
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#24 Consumer Comment

RE: Edward's suggestion...

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

Actually NO. Again the deposit was made after cutoff time (mentioned by the employee and shown on the deposit slip, online would have shown processing and the date). But the money was used before it was in the account and available. So I guess my "GENERIC comment" has validity.

And while some of the "POSTER BOARD" comments help explain the fees and how to avoid them, Edward's are just "you right the banks are evil and ripped you off". An attack, no, just stating the way things are.
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#25 Consumer Comment

RE: Edward's suggestion...

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

Actually NO. Again the deposit was made after cutoff time (mentioned by the employee and shown on the deposit slip, online would have shown processing and the date). But the money was used before it was in the account and available. So I guess my "GENERIC comment" has validity.

And while some of the "POSTER BOARD" comments help explain the fees and how to avoid them, Edward's are just "you right the banks are evil and ripped you off". An attack, no, just stating the way things are.
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#26 Consumer Comment

RE: Edward's suggestion...

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

Actually NO. Again the deposit was made after cutoff time (mentioned by the employee and shown on the deposit slip, online would have shown processing and the date). But the money was used before it was in the account and available. So I guess my "GENERIC comment" has validity.

And while some of the "POSTER BOARD" comments help explain the fees and how to avoid them, Edward's are just "you right the banks are evil and ripped you off". An attack, no, just stating the way things are.
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#27 Consumer Comment

Example of My Suggestion

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

See what I mean Wayne? From Striderq's GENERIC comment - 'wait until the money is in your account and THEN you spend it and no fees. If you spend it before the money is in your account then fees. Easy and simple.'

Yes it is easy and simple Wayne and that's EXACTLY what you did. You DID EXACTLY what Striderq is suggesting. You WAITED until you had money in your account and then you spent it.

Oh! But in HINDSIGHT the money WASN'T in your account. But Striderq's comment is the POSTER BOARD example of how they make it seem like you DID know you didn't have the money but you KNOWINGLY spent money you didn't have.

But according to the EMPLOYEE, you WOULD have the money to spend IMMEDIATELY after the deposit, and you acted accordingly. Only NOW do you know the money WASN't in your account. This was NOT your understanding from the EMPLOYEE'S explanation and from you checking your BALANCE, which to you CONFIRMED what the EMPLOYEE told you.
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#28 Consumer Comment

Wayne, you're right...

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

It isn't rocket science. You wait until the money is in your account and THEN you spend it and no fees. If you spend it before the money is in your account then fees. Easy and simple.
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#29 Consumer Suggestion

A Couple of Suggestions

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

To Wayne. First of all, never fall into the trap of personal attacks as this is what some want you to do. This will only divert attention from your issue and solve NOTHING. Trust me. I have learned (more than once) that once you post IRREFUTABLE evidence which can't be argued, the thread will turn into a ghost town with deafening silence.

Next. Simply state THE FACTS, which will stand on their own merit and cannot be defended, explained or justified. Which is the reason that some divert to the insults, or to other subjects that in no way address your question - like the employee Iamawesome. The facts here as you have plainly stated - You TRUSTED the employee's answer to your question. You acted accordingly and now look where you're at. Then when you question the bank about what happened afterwards, you were given THE FIRST excuse - the CHECK was held. After reminding them about the CASH, they said uh? Then they gave you THE SECOND excuse - out of state deposits.

So I ask, why couldn't the employee have given you that CORRECT answer before the deposit was even MADE? Then, why did it take so many tries before they finally gave you the CORRECT answer afterwards? Does the employee not know their own Terms and Conditions? But when you cry foul, you're chided and ridiculed for overdrawing your account, which technically you did - by following the advice of the employee. Mind-Boggling!
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#30 UPDATE Employee

It's All the Same

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

AS an employee of an evil bank (I like my job, I don't particularly think banks are warm, fuzzy, or even kind) I realize that many customers aren't happy with their bank. The truth is:
Checking accounts make little/no money for the bank. Overdraft fees are a way to make up for that. As many of you probably have noticed, the bank is less inclined to stick you with overdraft fees if you actually have interest bearing accounts (an ADVANTAGE relationship, Premier relationship, Private Bank, or U.S. Trust). People trying to leverage their ONE checking account for a refund is a nice thought, but unfortunately it's not realistic (even in the kindest terms.)

Overdraft fees are punitive, and the bank charges you for your error, BofA refunds a certain amount of overdraft fees, and recently increased its employee threshold for overrides. ALL banks charge ludicrous overdraft fees, so none will have to change their policies ever. If you don't believe read the top posts for Wachovia Wells Fargo, Chase, Us Bank, any other BofA peer banks.

No one who doesn't keep a check register likes their bank....coincidence, I think not. People who do keep a register and dislike their bank may have valid reasons.
76% of customers who overdraw at one bank, overdraw at another bank.
Back when I worked for a call center (and I did this for two banks) Overdraft fees would haunt me at night. It didn't take too long (I'm a really nice guy, lol) before I toughened up, and could actually say NO, and mean it. PEOPLE WILL SAY ABSOLUTELY ANYTHING to have OD fees refunded, that's why I refund even less than the bank recommends. Occassionaly I do talk to a customer who deserves a refund (and the bank gives us the ability to utilize these RARE moments).
I'm not completel brainwashed, I have my fair share of gripes with this bank, but most complaints about BofA are really complaints about ALL banks, they're just the biggest (so more customers to complain).
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#31 Author of original report

Why I will no longer read some responses.

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

For some reason we have several folks that seem to have a comprehension problem. Here is clarification, using small words.

1) THERE WAS SUFFICIENT MONEY IN THE ACCOUNT
2) THERE WAS A SUFFICIENT AMOUNT AFTER ALL PENDING ITEMS
3) THERE WAS A DEPOSIT OF OVER $600.00 MADE, OF THAT $35.00 WAS IN THE FORM OF A CHECK.
4) THE BANK SAID THEY POSTED THE CASH
5) I CHECKED THE ACCOUNT AT THE ATM, AND HAVE A PRINTED RECEIPT SHOWING THE CORRECT BALANCE, INCLUDING EXISTING AMOUNT and THE CASH and THE CHECK
6) THE BANK DID NOT POST THE CASH, AS THEY SAID THEY HAD. THEY MADE AN 'ADJUSTMENT' TO THE ACCOUNT BECAUSE THE ACCOUNT WAS IN ARIZONA, I WAS BANKING AT A MILITARY BRANCH IN TEXAS.
7) I DO BALANCE MY ACCOUNT AND KNEW HOW MUCH SHOULD HAVE BEEN IN THERE.
8) if THE BANK HAD CREDITED THE CASH TO THE ACCOUNT, I WOULD NOT HAVE HAD THIS STUPID ISSUE.
9) I SPENT ABOUT $400.00 OF THAT AMOUNT, ON LARGE PURCHASES, I USE CASH FOR OTHER PURCHASES.

Anyone stating that it is MY FAULT may be correct only in the fact that I used BofA for an account.

WHAT IT SHOULD HAVE SAID...
If anyone has something constructive, please feel free to post, I would love to hear what you have to say. Children and those incapable of reading go elsewhere.

This isn't rocket science.
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#32 Consumer Comment

Say it isn't so, Wayne...

AUTHOR: Truth Detector - (U.S.A.)

'It is my understanding that it is against policy to use defamatory statements. This is precisely what has been done by Jim in Anaheim on multiple posts, including #287030. I believe that it is in the best interest of all of your users to admonish this person. He has provided nothing constructive, mounts attacks against users that post both supportive and unsupportive information. I came to your site to voice my anger over what I think is an unfair practice by a bank. I do not deserve the type of treatment that I have received at the hands of this individual.'

PLEASE tell us that you didn't actually write and send that crybaby, sissy-ass letter to ROR about someone who actually challenged your postings. You sound like the Democraps in Congress whining that conservatives on talk radio are actually (GASP) influencing public opinion on matters of policy.

Newsflash, buck-a-roo: THIS IS A PUBLIC MESSAGE BOARD. If you want to write for an entity that never has its assertions and articles challenged within its own publication, you may want to start your own private, whiny blog somewhere west of Nevada or in Iran. In the mean time, stop with the crybaby tattling to mommy and daddy. Time to grow up and debate, junior...
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#33 Consumer Comment

The banking rules have changed...for the worse

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

It's really not much you can do about the banking rules because withing the last 2-3 years most all of them have changed. It doesn't matter how long you have been banking; if they change the rules, you either put up with it or move on.
They were also required to provide the changes in the terms of the agreement, which you should have gotten.

If BOA did not accept a cash deposit, it would be because they have a cutoff time for it to appear on that day. I think it is either 1 or 2pm, but it would vary in whatever locale you are in.

Margaret is untruthful when she stated that deposits post the same day at WF. The ripoff report below blows that ludicrous statement out of the water. All of the larger banks are pathetic scum and use devious ways to extract more money from the customer. WF has a fair amount of ripoff reports within this website, so don't play that lilly white crap here.

http://www.ripoffreport.com/reports/0/171/RipOff0171867.htm
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#34 Consumer Comment

Ha Ha Ha.

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

It should have read:

dear admin,
I spent more money than I had in my account. I complained about it on this site and blamed the bank for my actions. People don't agree with me and I want them gone.
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#35 Author of original report

Enough!

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

I am tired of Jim from Anaheim and his useless comments. He has defamed multiple people on this and other posts. This is against the usage policy of ripoffreport.com, consequently i have send the following to the system administrator.

"
It is my understanding that it is against policy to use defamatory statements. This is precisely what has been done by Jim in Anaheim on multiple posts, including #287030. I believe that it is in the best interest of all of your users to admonish this person. He has provided nothing constructive, mounts attacks against users that post both supportive and unsupportive information. I came to your site to voice my anger over what I think is an unfair practice by a bank. I do not deserve the type of treatment that I have received at the hands of this individual.



Please deal promptly with this unacceptable behavior

"

I appreciate all of the other posts, keep them coming. Jim - Grow Up
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#36 Consumer Comment

Good For You Margaret

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

However, this isn't about you. The fact you bank there though makes me further question your intelligence..... It isn't about me either.

This is about Debit Cards and Wayne's failure to understand their proper use.
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#37 Consumer Comment

I HATE TO BURST YOUR BUBBLE BUT..

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

Jim I won't be writing a thread about Wells Fargo because I keep adequate funds in my account at all times. ENOUGH SAID TO YOU !!!!!!!!
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#38 Consumer Comment

Show Me The Terms and Conditions!

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

Texprime, I ALWAYS had the same experience during my tenure with BofA also. While with them, I had what they called the Express Checking Account. This was an account type that required Direct Deposit but there was no monthly service fee. However, the Express Checking Account was designed for customers who did their banking PRIMARILY online or via ATM. I was one of those customers.

With this account you could go into a branch and use a teller, but you could do this no more than three times per month for free. After the third time, you could still use a teller but it would cost $3 service fee, if I remember correctly. No problem, this wouldn't affect me, because again, I only used the ATM for EVERYTHING. NOT ONCE in my 10 years with BofA did I EVER have an ATM deposit NOT POST on the same business day, as long as it was made before the cutoff. No matter if it was cash or payroll check or even PERSONAL THIRD PARTY checks! But as you said, if you make the same deposit with a teller, it COULD BE and USUALLY is HELD. And this HOLD did indeed happen to me to on the FEW occasions that I was forced to use a teller. But ATM - NEVER a hold.

Now, since the customers are CONSTANTLY preached to about reading their Terms and Conditions, I DARE anyone to show me the PAGE, PARAGRAPH, and LINE where it clearly documents these procedures observed by myself, Texprime, and many other customers.
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#39 Consumer Comment

Sorry to hear

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

I'm sorry to hear of the problems you've had with BoA. I was having similar problems until I started making my deposits using a BoA ATM. I can deposit a check at the teller window and it won't post until the next business day (or after midnight as previously stated). But, without fail, when I deposit at the ATM, pretty much regardless of time of day, it is posted to my account by the time I get home and check online.
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#40 Consumer Comment

Welcome to Wells Fargo

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

I can't wait for the ROR from you when they rip you off as well. Remember, I used to bank there. Those dudes were dummer than bricks. As example of this, cash at BofA does not post immediately, when the deposit is made after cut-off on a Friday. There are enough examples of this on other ROR reports of people doing exactly what you did. As I already said, your issue is not a deposit problem, it is a debit card usage issue. There was recently an ROR posting in which someone posted their bank activity for about 3-4 days. If the person had taken cash out of the ATM and used the cash to pay for transactions under $25 instead of using an ATM card, the person would have had over $60 more in his pocket and less in the pocket of the bank.

Margaret, I used to bank at Wells Fargo. They possess the same intelligence as any other bank employee in the industry: None. Enough said.
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#41 Author of original report

Thank You

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

That is precisely what I said. CASH deposits POST now. Jim in Anaheim seems to have several issues related to this post.
Careful he says that NO bank employees post here, not you or the person that posted above. (Perhaps he did not read this?)

Thank you, I already have an account with Wells Fargo, there just was not a branch where I lived. I will travel to get to WF, where I have not had any issues like this in the 10+ year history with you. My advice to everyone is to avoid BofA. They DO rip you off.
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#42 Consumer Comment

CASH IS SUPPOSE TO POST IMMEDIATELY

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

Jim, you are WRONG!! CASH POSTS IMMEDIATELY!!! Remember? I am with Wells Fargo, and that I know for sure. And Wells Fargo, at least the branches I deal with don't give me dumb moranic answers about financial transactions.
BOA is the worst. They recently wanted to start charging my aunt some kind of dumb fee for an IRA account. She told them to either stop charging her and if they did not she was closing her account. She moved her IRA to Wells Fargo. Now, she is not stuck with fees.

Now for Wayne, investigate your banks, and find one that will offer you immediate cash deposit posting, FREE CHECKS, Overdraft protection, and a debit card that will be declined if for some reason you account gets too low!!!!!!
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#43 Consumer Comment

Now YOU Can't Read

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

If you read any of my posts, you'll find I am not defending this or any bank, and my advice is directed at you because this happened through your own negligence. Your situation was and is entirely preventable because you mismanage your finances, and anyone who uses a debit card is doing exactly that. Whether you have one day or forty years of what you consider "financial experience" is irrelevant - mismanagement is mismanagement. If you feel offended that I am telling you how to manage your finances.... you should be more offended this is happening to you after forty years than being told why this is happening to you. You should have come to the conclusion that if this is happening to you after forty years of managing your finances, chances are - you aren't handling them well.

My guess though is that this issue will never be closed until you change your habits because we'll see you again on another ROR.

I will say this again - your online printouts are irrelevant to the bank and are not evidence of anything except the fact that posting order changes based on dollar amounts posting. It's standard with just about every bank out there. Anything printed online is tentative until the day and often the month is complete because of any interperiod adjustments. Accordingly, they are evidence of the fact they order transactions, but that's about it. Since this is part of the Terms and Conditions of EVERY bank you will eventually end up at, you need to adjust your mindset and accept this, otherwise you will continue to rack up NSF fees at your next bank. Are there banks who don't post based on order? There are a few, but they are disappearing quickly - either through acquisition by larger banks, or just changing posting order through their own volition.

I don't defend it the policy. I simply accept the following facts of life: (1) the IRS is unsympathetic, (2) the Post Office slow, and (3) all banks maximize profits.
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#44 Author of original report

Still can't read

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

Jim STILL CAN NOT READ. This issue is closed. Stop defending their actions.

I have been banking for more than forty (40) years, NEVER had an issue like this. I had always closed the account when I moved and opened a new one when I arrived at my destination. This time I kept the account in Arizona and moved to Texas to take care of my daughters house while she is in Iraq. You want me to say that I made a mistake? THIS WAS MY MISTAKE; I SHOULD HAVE CLOSED THIS ACCOUNT AND OPENED A NEW ONE. (Feel Better?)

I do not appreciate your statement about how I handle my finances. OVER FOURTY (40) YEARS OF BANKING WITHOUT THIS TYPE OF ABUSE BY A BANK. NOW YOU WANT TO BLAME ME? GROW UP.

Anyone out there that has an account with BofA needs to keep a close eye on them, they WILL 'ADJUST' the dates, I have DOCUMENTS...
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#45 Consumer Comment

Documents Don't Matter If the Bank Says They Don't

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

Wayne, if the documents truly existed, then this would have been part of your OP; the worst case scenario would have had your cash deposit made Friday after cut-off posting on Wednesday early AM and assumes Monday is a holiday. If you had persuasive evidence such as what you claim you have, then the bank would have reversed the charges. No excuses and no double-talk.

Even Bank of America, for the idiots they are, can look at their own paperwork and determine they made a mistake - people who have posted here have indicated such and correct their errors. If the bank was not persuaded by evidence you showed them - I am not persuaded by the evidence you have either - accordingly, I ignored the comment. Paperwork means nothing if it has little to no evidentiary value to anyone.

Moreover, none of what you posted is the issue. As I said as well, what you posted is SOP at just about every bank you go, but it is a common problem with many people. This is not a deposit recognition problem for you and many others.

Let me say it again: Your problem is NOT a deposit recognition problem.

It is a spending problem with a debit card. I understand you want to make this a deposit problem - it isn't the issue based on the OP. Why? In a debit card world, only this can possibly happen:

'Any money that you spend using your debit card on the weekend is INSTANTLY posted, making you overdraw your account.'


You posted this as part of the OP. Now, it doesn't post instantaneously (I've explained that), but there is a more important point and it's this: Deposits don't post on the weekends, but your debit card usage does. Now, if you had used checks - checks don't post on a weekend either. Cash is already withdrawn from the account, so cash spending doesn't affect your account - only your wallet.

The debit card is the ONLY transaction that posts on the weekend against your bank account. That's why listing this as a deposit problem is irrelevant, because that's not the issue. If you used ANY other form of legal tender to pay for your items other than a debit card, you wouldn't get hit against your bank account on the weekend. That gives your deposit time to post. Until the day banks post deposits on weekends, using a debit card only makes the bank money and relieves you of it.

Accordingly, my advice still stands. If you want your problems to stop, snip the debit card and live on cash or checks. If you want to keep giving the bank all your money - whether it's BofA, Chase, Wells Fargo, BB&T, Citibank, etc....., then keep the debit card. They're all the same, they all want your money, and that's your business. The methodology of their posting won't affect you if you take the proper steps to insure you have money in your account, track it in writing, and post deposits accordingly. Shredding the debit card will put an end to a bank taking money from you because you'll have better control over your account and manage it much better. Let the bank make money in other ways.

Now, go to a credit union and do your business there.
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#46 Author of original report

I have already dealt with this and suggest that others do the same.

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

Jim from Anaheim did not read the first sentence. I have DOCUMENTS ...

If you handle replies that way that you did this one then you will continue to have ...
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#47 Author of original report

I have already dealt with this and suggest that others do the same.

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

Jim from Anaheim did not read the first sentence. I have DOCUMENTS ...

If you handle replies that way that you did this one then you will continue to have ...
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#48 Author of original report

I have already dealt with this and suggest that others do the same.

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

Jim from Anaheim did not read the first sentence. I have DOCUMENTS ...

If you handle replies that way that you did this one then you will continue to have ...
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#49 Author of original report

I have already dealt with this and suggest that others do the same.

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

Jim from Anaheim did not read the first sentence. I have DOCUMENTS ...

If you handle replies that way that you did this one then you will continue to have ...
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#50 Consumer Comment

Wayne - Not Correct

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

No matter where you go, cash will post after all debit transactions are posted to your account; sometimes that could be the next day early AM. The exception to this is on Friday after cut-off (cut-off time is set by the branch - you should ask them wherever you end up with a bank account). If the deposit is done Friday after cut-off, then YES - the bank will not post the transaction until Monday or Tuesday. Again, this isn't just BofA - this is virtually everywhere.

And the other poster is right about debit cards - debit card transactions will post when the information is received from the merchant where you used your debit card and spent money; whether the posting is immediate is really up to the merchant whom you spent money with. The bank is not in the business of paying merchants who haven't submitted transactions; the bank only pays when a merchant requests it based on the transactions spent in the store; the bank has no responsibility to control when something like this is posted.

You can live without a debit card - just snip it and you will really save money. But if you can't snip the card and if you want to save $$, you will not use your debit card on transactions less than $25.00; if you overdraw the account - it will be on one transaction, instead of smaller ones. Debit cards make the banks more money and you are poorer for the result.

PS: No one at BofA posts here. NO ONE. What I have posted here is general information universal at all banks - BofA is no different in my eyes than the other banks. If you practice the same banking skills with your new bank, as you did with BofA, the same thing will happen and you will be complaining about your new bank as well.
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#51 Author of original report

Not NOT TRUE

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

You must work for them.

I have DOCUMENTS showing a deposit (CASH) on Friday that did NOT POST UNTIL THE FOLLOWING THURSDAY. The banks excuse was that it takes time for checks to clear, then when I confronted them with the fact that it was CASH they said it takes time to deposit to an out of state account (Arizona). ODD... I was TOLD BY THE TELLER THAT cash DEPOSITS POST RIGHT AWAY. NOW SOME "employee" WANTS TO BLAME ME AGAIN.

I HAVE ALREADY RESOLVED THIS ISSUE, I CLOSED THIS ACCOUNT. I WILL NEVER DEAL WITH bank of america AGAIN. TAKE YOUR TWISTED LIES ELSEWHERE.
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#52 UPDATE Employee

Not true

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

Debit transactions are not INSTANTLY posted to your account. NOTHING is INSTANTLY posted to your account. Nothing posts until the day ends. So for the weekend, you make a deposit on friday AFTER the cutoff time (of 8pm in most places, EXTREMELY reasonable considering most banks is at 3. Some Atms might be at 6, and some at 1 if they're remote), so you make a deposit on friday AFTER the cutoff time it will post monday NIGHT. your debit transaction on friday may post, because the cutoff times for debit card transactions going out are slightly later. As for transactions on saturday, sunday, and monday, all will show as pending, none will POST until monday night, when processing is done. Provided your deposit was in on friday (or sat/sun/mon for that matter) if will post first, credits before debits. Your recount is not true. What probably happened is you overdrew your account on friday, and the fees posted on monday (one business day after, per BofA's T&C's). I Disagree with posting high-to-low, but overdraft fees are %100 avoidable. Not only are they avoidable, BofA refunds ALL customers first occurence (that's up to five fees in one day). If this was your first time, and you had learned how to keep a check register, you'd be good to go, lesson learned. But since you've jumped up to the 35.00 tier, I know this isn't your first time, and would bet my savings that it won't be your last. No offense, It's just time for me to go to bed.
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#53 Consumer Comment

Debit Card World

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

Wayne, you and Genius suffer from debit card reliance. This reliance has made more money for the bank and made you poorer in the process. In the days before Debit Card World, what happened specifically to Wayne could never have happened because (1) the merchant could not cash your check until the bank received the document, or (2) more people had credit cards, which ALSO meant the money was not linked to your checking account and then withdrawn or reserved for. Debit cards are slick - they allow the user to tap their account at any point, but there is often an unexpected price for that convenience.

Genius, you don't have to snip the ATM, but you should snip the debit card at your earliest opportunity. I don't know if you will be going through withdrawls (so to speak) from not using the debit card - trust me, you will be better for getting rid of the damn thing. Keep a check register after that, and you'll be fine.
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#54 Author of original report

Never Again

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

I asked the bank to reverse the charges that they had posted against me. Even though most of my deposit was CASH they refused. I have closed this account and will NEVER do business with this "den of thieves again."
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#55 Consumer Suggestion

Arent they warm and fuzzy?

AUTHOR: Super Genius - (U.S.A.)

You would be amazed at just how many people have the EXACT same problem.
Pull out of the BOA constrictor! All banks are more or less the same BUT BOA
Seems to take this practice to the next level!
Also you would be amazed at how some employees ARDENTLY defend this practice.
They will tell you its for your own good basically.
If you want a good example of this check my thread =Bank Of America Overdraft fee fleecing of those poor saps that live paycheck to paycheck . These people are the ones you trust with your money! Do yourself a favor and vaporize that atm card and keep your money in a safe deposit box.
Yours truly
Super genius
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