• Report: #290521

Complaint Review: Bank Of America

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  • Submitted: Tue, December 11, 2007
  • Updated: Tue, December 11, 2007

  • Reported By:Washington District of Columbia
Bank Of America
6011 Oxon Hill Road Oxon Hill, Maryland U.S.A.
  • Phone: 301-567-5995
  • Web:
  • Category: Banks

Bank Of America Endless Mounting Overdraft Fees of $35.00 Each Oxon Hill Maryland

*Consumer Suggestion: Deposits

*Consumer Comment: You're Being Misled

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I discovered that Bank of America held my deposits, while posting negatives to my account. Once the deposit cleared, my account was always overdrawn. Sometimes $140 or more. Checking balances at ATM and online banking is not the answer, it doesn't work. I was also told that my account couldn't be closed out until balances were satisfied. To make a long story short, I now bank at Wachovia. Wachovia Bank has an option to view all pending transactions and those items are deducted from the balance as well. It's much easier. Of course, Bank of America doesn't deal fair and open. Most of the overdrafts are not money owed but they are fees purposely incurred by the bank.

Jackie
Washington, District of Columbia
U.S.A.

This report was posted on Ripoff Report on 12/11/2007 08:13 AM and is a permanent record located here: http://www.ripoffreport.com/r/Bank-Of-America/Oxon-Hill-Maryland-20745/Bank-Of-America-Endless-Mounting-Overdraft-Fees-of-3500-Each-Oxon-Hill-Maryland-290521. 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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REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Suggestion

Deposits

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

How much of a deposit are we talking about (roughly, meaning over 500, over 2,000, etc.) and when was it made?

I have been with Bank of America since 2001, and the issues I have had with the exception of one paycheck was my fault. If you make a deposit through an ATM before 8 PM Monday through Friday, it posts at midnight. Cash deposits post immediately regardless of what time of day it is. If you make a deposit in a branch, you have usually till 5 PM (sometimes 7) for it to post at midnight. Deposits have to be posted first. However, if the amount is high, then it may take an extra day or two. Usually you can ask this or it is in writing (Navy Federal Credit Union has a sign where the teller line starts w/their deposit policy and they base it on amount and whether it is a local check or not).

Bank of America shows pending stuff online for the most part. The exceptions, if you write a check and most gas stations. As the previous poster said, that is why you use a check register and hold on to all receipts. Recently, I have noticed that Bank of America will show if a cashed check has been attempted regardless whether it is you writing a check out to cash inside of a branch, or someone cashing a check you wrote to them.

Mike
Waldorf, MD
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#2 Consumer Comment

You're Being Misled

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

Jackie - what happened to you at BofA will happen to you at Wachovia. All you have to do is review all of the ROR's here for Wachovia. They do business the same way; you will overdraw your account in the same way and they will hold your deposit until all of your pending items post. In other words, if you see an item as pending in your account - it's already too late.

You're right in that you can't depend on any online balance or ATM balance with anyone you bank with. The balance you should be reviewing is the one in your check register. If you don't keep a register - do it. If you still decide not to, we'll be waiting for the ROR from you on Wachovia for excessive OD fees and how they are misleading people.
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