- Report: #404285
Complaint Review: Bank Of America
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Bank Of America Processing transactions largest to smallest - Causing overdraft fees! USA South Carolina
*Author of original report: ALL FEES REVERSED!
*Consumer Comment: Processing largest to smallest does not cause overdraft fees...
*Consumer Comment: Your right...
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I already had items presented from my check cashing card and they showed on the internet with the money already having been deducted from the cash available. Last time they refunded half the money because the dumbos found out it was their fault and they caused the overdraft. If anyone intends to win a class action suit you MUST print a daily balance sheet with all transactions showing. This way you have a record of what is showing daily. Then when they reorganize debits and so on you have proof. what happened was we filed a dispute for two charges that weren't ours - after they refunded the money they went back in to our account and took out two overdraft fees that these charges caused. We are still waiting for the $70 to be refunded. Strange thing though they gave us the moeny back for the charges and haven't given back the overdraft fees. So you see it was their fault. They went in and took money without warning and messed up my balance.
Point is they DO NOT bank in real time - if they did they wouldn't tell you we deposit in order from largest to smallest regardless of time. if you have a checking account do not write checks when you use your check card. As of today we had a check for over $800 go through our account and the ACH charges we made the week before (check card charges) they had already been deducted from the account last week and have now been re-arranged to appear as though they were processed after this check had been deposted. It is completely unethical to re-arrange the books to gain fees. Luckily we keep track of everything and there were enough funds this time and they did not get away with any fees.
If there is a class action against them for this let me know - I'm IN! I don't and won't do business with people like this and they have gotten so much money from us it makes me sick and I'm done with it. We're in the process of moving four accounts including our business account to another bank that has guaranteed us they bank in real time! If anyone ever opens any bank accounts make sure you ask them if they post from the largest to the smallest. I already heard BOA just lost a lawsuit because they were doing this. If anyone has more info let me know!! Thanks
Anne
Greenville, South Carolina
U.S.A.
Point is they DO NOT bank in real time - if they did they wouldn't tell you we deposit in order from largest to smallest regardless of time. if you have a checking account do not write checks when you use your check card. As of today we had a check for over $800 go through our account and the ACH charges we made the week before (check card charges) they had already been deducted from the account last week and have now been re-arranged to appear as though they were processed after this check had been deposted. It is completely unethical to re-arrange the books to gain fees. Luckily we keep track of everything and there were enough funds this time and they did not get away with any fees.
If there is a class action against them for this let me know - I'm IN! I don't and won't do business with people like this and they have gotten so much money from us it makes me sick and I'm done with it. We're in the process of moving four accounts including our business account to another bank that has guaranteed us they bank in real time! If anyone ever opens any bank accounts make sure you ask them if they post from the largest to the smallest. I already heard BOA just lost a lawsuit because they were doing this. If anyone has more info let me know!! Thanks
Anne
Greenville, South Carolina
U.S.A.
This report was posted on Ripoff Report on 12/23/2008 09:51 AM and is a permanent record located here: http://www.ripoffreport.com/r/Bank-Of-America/nationwide/Bank-Of-America-Processing-transactions-largest-to-smallest-Causing-overdraft-fees-USA-404285. 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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Search Tips#1 Author of original report
ALL FEES REVERSED!
AUTHOR: Anne - (U.S.A.)
SUBMITTED: Tuesday, December 29, 2009
Filed a complaint with the Office of the Comptroller of Currency. All fees reversed!
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What's this? #2 Consumer Comment
Processing largest to smallest does not cause overdraft fees...
AUTHOR: Edgeman - (U.S.A.)
SUBMITTED: Tuesday, December 23, 2008
Think about it-
If I have $700 in available funds and $640 in checks and debits, then it doesn't matter how the transactions are processed. The end result will always be the same.
If I have $700 in available funds and $640 in checks and debits, then it doesn't matter how the transactions are processed. The end result will always be the same.
Respond to this report!
What's this?
You are correct about one thing
"...Point is they DO NOT bank in real time.."
They do not because they can not bank in real time. The bank has no idea that you have written a check until the merchant submits it for payment. The bank has no idea that you have used your Debit Card until the merchant(or their payment processor) has submited the debit. This may not be in "real time", but you know what is in real time..YOUR Register. That's right if you take the responsibility to write down the transactions you do AND you don't spend more than you have then the order that they post transactions mean nothing.
"Luckily we keep track of everything and there were enough funds this time and they did not get away with any fees."
- NO this is not luck, this is what you are SUPPOSED to do. Keep a positive balance and they don't get their fees..real simple.
"...Point is they DO NOT bank in real time.."
They do not because they can not bank in real time. The bank has no idea that you have written a check until the merchant submits it for payment. The bank has no idea that you have used your Debit Card until the merchant(or their payment processor) has submited the debit. This may not be in "real time", but you know what is in real time..YOUR Register. That's right if you take the responsibility to write down the transactions you do AND you don't spend more than you have then the order that they post transactions mean nothing.
"Luckily we keep track of everything and there were enough funds this time and they did not get away with any fees."
- NO this is not luck, this is what you are SUPPOSED to do. Keep a positive balance and they don't get their fees..real simple.
Respond to this report!
What's this? 
