ED Magedson – Founder
Bank Of America ,bankofamerica.com100 North Tryon St Charlotte, North Carolina United States of America
This began dating back to August 24, 2009 when I got a check of $300 from my parents to help my financial situation. I deposited the money into my account, however 4 days later Bank of America informs me that they were only going to allow $100 of that to be deposited until they release the funds 2 weeks later because I had overdrafts before. This essentially punishes me even more than the overdraft fees they already charge. Isn't the object to get out of an overdraft to have more money in your account? On top of this, I already made plans to have a credit card payment come out of that account which after receiving this letter, I then realize I wouldnt have enough funds to cover the credit card payment.
Well I contacted Bank of America and I asked them about what would happen if I got overdrafted during this holding period because I wasn't aware of it. [continued below]....
September 11, 2009 after about 45 minutes of holding I contact them about the situation and the representative on the phone said that since the charge was because of a holding, they would refund the $105.
However on September 13, I look at my account online to show $15 was refunded, much different than the whole $105 I was promised. I contact the customer service and this gentlemen said the charge was legitimate and there was nothing he could do and I even explained that I was told I would get everything refunded.
This is typical Bank of America practice because I've had to contact them over the phone for other issues and you end up getting two different stories. I am hoping they can refund the rest of my money or else I will take my banking elsewhere.
This report was posted on Ripoff Report on 10/05/2009 07:54 AM and is a permanent record located here: http://www.ripoffreport.com/reports/bank-of-america-bankofamericacom/charlotte-north-carolina-28255/bank-of-america-bankofamericacom-boa-bank-of-america-took-advantage-of-my-financial-situ-504415. 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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