Report: #499596

Complaint Review: Bank Of America - BofA

  • Submitted: Wed, September 23, 2009
  • Updated: Wed, November 30, 2011
  • Reported By: chuck — Orange New Jersey USA
  • Bank Of America - BofA
    United States of America
  • Phone:
  • Web:
  • Category: Banks

Show customers why they should trust your business over your competitors...

Although I have requested a number times, to date Bank of America has not allowed me to opt out of overdraft use of my debit card, as I have with credit cards companies.  

Any time I use a card of any type I expect to be declined subject to account limits/balances.  I do not recognize nor require any so called 'curtosity' which creates a situation where overage fees are incurred.

In particular, I recently incurred a total of $45.00 in fees for 0.57 cent (for total 4.28 purchase) Aside from an unaccounted $12 monthly service charge on my "free" checking account which contributed to the timing of the oversight, to be charge $10 dollars & then additional $35 'extended fee' for a 57 cent overage?!?!?!?!? The refund of $18 in response to my complaint is insulting and far from satisfactory.

(cue sound: straw breaking camel's back)

Similiarly, I ultimately incurred without mitigation $115 in fees parcipitated by a $1.96 debit card overage in late July early August when I first requested to opt out. I'm sure a case can be made for still another $35 fee incurred as I tried to catch up with the flood of fees.

Aside from the fact that I've had over $500,000 (inheritances, business sale, salary, etc.) go through my accounts in recent years, aside from a twenty-five year plus previous banking 'relationship' prior to BofA, managing my accounts without being overdrawn for decades!... unfortunately my current situation has me keeping unusually low balances in my personal account in deference to my business needs.

I been ripped off for at least $195 in fees for a .57 & a 1.96 overage to should have been avoided by my AND BANK OF AMERICA!!! That's a significant amount of money for me to use otherwise! 

As such I have closed and/or suspended any relationships I have with BofA until this money is ALL returned to me. And I will write, record, send a press release and/or tell this story to anyone I meet including my elected representatives, consumer reporters, regulators, better business entities, and websites like this. 

Similarly, I will boycott/not accept any BofA cards in my place of business until I receive satisfaction.

EVERY BANKING RELATIONSHIP I'VE HAD PRIOR HAS DETORIATED SINCE BEING TAKEN OVER BY BANK OF AMERICA... My former MBNA credit card relationships now suck ... the closing of four convenient area neighborhood branches (red lining?), and now my checking account fees entrapment. 


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This report was posted on Ripoff Report on 09/23/2009 09:34 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

Chuck, If you.....

AUTHOR: Karl - (USA)

type in 61736 at this site and go to Ripoff Report #61736 you will see a picture of Lisa standing outside the Wells Fargo branch in San Francisco holding a picket sign and directing people to this website.

Have a nice day.

***GLOBAL ALERT: "PROTESTER SONG 9" was submitted at this website on November 30, 2011. Just type in 271454 to see if it is available in the consumer comments section at Ripoff Report #271454.

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#2 Consumer Comment

Ronny G, Maybe an encore presentation of- HARVARD PROFESSOR POEM will help you put your finger on it.

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


There once was a man
He was a Harvard Professor
His brain never stopped working
It had a built-in compressor.

He knew about DECEPTION & FRAUD
He knew the market would BLOW
One big financial eruption!

Now our country's collapsing
We hear cries, shouts, & moans

But the 'big-shots' don't care
They made millions, it's true
Lowered your stocks & retirements
Now they're LAUGHING at you!

The Professor teaches what's right
But most will DO what is WRONG
CEO's think that they're KING
But we know they're just KONG.

Now we all understand
It's man's love for the dollar
Forgetting one's lessons from the Professor
A great man who's a scholar.

Time to wrap this one up
Put an end to this poem
This is for the Harvard Professor
I hope someday we'll know him.


'HARVARD PROFESSOR POEM' was originally posted in the 'Updates' section to Susan's Ripoff Report, which you can 'Google', entitled- RIP OFF REPORT BANK OF AMERICA WHEN IS PAYMENT DUE DATE NOT A DUE DATE.

Thank you.

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#3 Consumer Comment

Karl, I take back what I said..

AUTHOR: Ronny g - (USA)

I didn't want to be hypocritical and presumptuous like I see some others act around I gave the video a shot.

Seems on the surface to be unbiased and very informative. However it also seems to be missing something that I can't put my finger on. I have to watch it again.
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#4 Consumer Comment


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

'Googled' this- THE ASCENT OF MONEY PBS, and watched that documentary by a Harvard professor on the web yet?
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#5 Consumer Comment


AUTHOR: Ronny g - (USA)

The reasonable changes in some of the banks policies and terms many of us want and are starting to see happen, are not designed to or an attempt to prevent the bank from charging fees. Some of us feel that many customers have been charged excessively due to certain tactics by the bank that encouraged and allowed it to happen by deception, manipulation and unethical practices.

Anyone who continually overdrafts by intent or carelessness (and if they choose not to opt out of overdraft protection) is of course increasing their chances of incurring fees.

The changes are only in hopes of better protecting the good customers money..nothing unreasonable and no system will ever be perfect..because people are not perfect..and the world is not perfect...the banks will still have plenty of opportunity to charge fees. But perhaps by all this exposure some people that were not fully aware of how the system works..will understand and be given the choices  which can best protect their money.

For myself..and MANY other bank customers that have reported here..we would have  saved a bundle in fees if the card was simply declined if the account did not have the funds...we didn't want the loan but the banks "courtesy overdraft protection" is nothing more then a "pre-authorized loan" in the banks eyes..and THAT is how THEY were getting away with it...the banks (such as BofA) that forced this service onto their customers as "mandatory" many cases are just as "guilty" as a customer that overdrafted a single transaction..expected a single fee..but got hit with hundreds of dollars in fees..they had no intent of ripping off the bank..and quite the contrary was the result.
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#6 General Comment

Does anybody realize...

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

That even with the changes in policy an account holder can still rack up multiple overdraft fees? BofA can still charge four overdraft fees per day and somebody who uses their debit card repeatedly can still wind up paying hundreds of dollars in unnecessary overdraft fees.

Join up with those of us who choose not to pay overdraft fees and keep your money where it belongs - with you.
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#7 Consumer Comment

CHUCK, Have you 'Googled' this- BANK BAILOUT PROBLEM: NO EASY ANSWERS, and read that article yet?

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

It seems as though the FDIC is running out of money, correct? The FDIC is the entity that makes certain customers who have deposits in banks are protected so they don't LOSE all their money that's in the bank, in the form of- checking & savings deposits, right? The FDIC is mainly funded by assessing fees to banks, but these fees have almost all DRIED-UP because of the many bank failures, haven't they?

So it looks as though the FDIC will need to go to the Treasury in order to get the money to BAIL-OUT the FAILING BANKS in the near future, correct? So what we'll have is the FDIC, using TAXPAYER'S money, making certain that the customers of these banks don't LOSE their money that's in their CHECKING ACCOUNTS & SAVINGS ACCOUNTS at the banks, right? (American's money going into failing banks in order to make certain that Americans don't lose their money!) That's a bit ironic, wouldn't you agree?

Taxpayers BAILED-OUT many of the large corporations like- AIG, GM, Chrysler, Freddie Mac, Fannie Mae, Bank of America, JP Morgan Chase, Wells Fargo, Goldman Sachs, Morgan Stanley............. in the form of a $700 BILLION 'TARP', & now the taxpayers will most likely be BAILING-OUT many of these other banks which are obviously about to FAIL, isn't that correct?

QUESTION: Do you believe that the 'system' we have in the USA really works?

Have you 'Googled' this- MOORE: A NEW ECONOMIC ORDER, and watched that video?

*I guess the 'system' DOES work for the executives, & the others who are making MILLIONS upon MILLIONS of dollars at the expense of the American people, right? And many of our POLITICIANS who PROTECT the executives at these corporations are also benefitting because they still have their jobs, which are PAID FOR by the American people, correct?


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#8 Consumer Suggestion


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

To Lisa... if you overdrew by that much it's your own fault (assuming you were talking about yourself). If you kept a check register it wouldn't have happened. And to Ronny G... my accounts are free because I don't overdraw, even though I live paycheck-to-paycheck. I keep a register, don't use deposited money until I know it's clear, and NEVER depend on the ATM or online balance. I also use cash for small purchases so that my debit card doesn't get me into trouble. It was a valuable lesson learned.
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#9 Consumer Comment

BofA check card purchases authorized on overdrawn account

AUTHOR: Lisap4343 - (USA)

   Bank Of America authorized FOUR  different VISA check card  (debit) purchases which totaled just under $1000 on an account that was  overdrawn by $-68.47.
   I understand how this can happen when an account has a positive balance to begin with but this account was overdrawn for at least 72 hours......why would ANY purchase be authorized at this point  CLEARLY THERE IS NO MONEY IN THIS ACCOUNT  
  Do they  "extend credit" to  all overdrawn accounts  just  so they can collect  a few $35 NSF fees? I can't get anybody to tell me why these purchases were authorized...
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#10 Consumer Comment


AUTHOR: Ronny g - (USA)

I have to ask myself if free checking or anything the bank offers not just part of the overall ploy to further bilk low income and low balance customers.

I can bet most of the customers that reported here would have gladly paid a fee for checking if they knew how much it was really going to cost them in the long run. And I would trust the banks are aware of this..I mean why would they do anything for free if it wasn't going to give them a profit in the long run? They are a business right? And a rather shrewd one if I say so myself.

Why would anyone with a decent income mind to pay a small fee for checking..if it could really help lower income people from being wiped out? I mean laws and business and even ethics we really want to be a society that has no compassion or willing to sacrifice a tiny bit to help the needy?

And as Edward stated...and is 150% correct..the habitual offenders who consistently overdraft and blame everyone else..will probably not opt out of the protection..and probably continue to overdraft again and again.. they deserve what they get as long as the bank is not violating any laws or using unethical tactics.. the bank can fee the crap out of those types of people until they learn.
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#11 Consumer Comment

Not Necessarily

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

To Robert. According to some, those who overdraft will probably continue to do so, no matter what the policy is, and no matter where they bank. So this means even after these new policy changes, the same old overdrafters will still contribute to the bank's bottom line with OD fees. Thereby protecting your precious free checking. That's if you believe the all of the condescending comments routinely issued on this site and others.

To the OP Chuck. You should feel privileged. According to those same skeptics and critics, customers who overdraft, like yourself, are in a very small percentage group. While the majority of customers have no problems with their banks accounts.

So Chuck, you should feel privileged that the bank would revise it's policies, just throwing away billions of dollars in profits, all for little old you. Now don't you just feel special?

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#12 Consumer Comment

Expect more fees for things now free.

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

With the possibility of OD fees being regulated, I would expect to also see the end of free checking and services.

Expect to see monthly service fees for checking accounts as well as per check charges, minimum balances and charges for online bill pay.  Just like the old days of checking accounts.

Thanks alot congress.

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#13 Consumer Comment

The banks policies are changing soon..

AUTHOR: Ronny g - (USA)

They had their little hayday and made a killing off these fees and manipulations.

Now, I can't say you don't hold any responsibility..and I think you understand that..but either way..the banks tactics worked in their

You stated it having difficult financial times..your account balance was of course you are more likely to overdraft..and more likely to suffer greater hardship due to it. Think the banks are aware of this? If they weren't we could say they were pretty ignorant..right? But we can't say there in all logic must have been some intent..possible? Nah, the banks would never mislead their customers with intent now..would they?

With that said..aren't you glad you had overdraft protection? Tell well did it protect you from any overdrafts..regardless of the reasons they occurred?

Sarcasm aside..can you understand why the bank did not let you opt out? Because if they had..most of that money would have remained yours..and not theirs. The banks know we are on to this game..and we are coming for they are starting to implement reasonable changes..and perhaps one day the banks will actually be what they once were..a safe place to keep our money.
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#14 Consumer Comment

Anyone can 'Google' this- RIP OFF REPORT WELLS FARGO BANK OUTRAGEOUS FEE RIP OFF SAN FRANCISCO, and see Lisa with her PICKET SIGN outside a Wells Fargo bank in....

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

California, right?

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#15 Consumer Comment


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

A woman did it at her Wells Fargo bank. You can see a picture of her at the WELLS FARGO page of this site. It is one of the Rip Off Reports there that was recently Updated.

Stay off of the banks property when you do this. Alert EVERYONE, including all the employees at Bank of America about this site! The employees can find out about the 'SECRET LIFE INSURANCE POLICIES' that BofA has taken out on its employees. I believe that $17 BILLION in 'SECRET LIFE INSURANCE POLICIES' has been taken-out on the lives of BofA employees.

'Google' this- BANK EXECUTIVES PROFITING ON THE DEATH OF EMPLOYEES, and read that article. Then 'Google' this- BANK OF AMERICA COMPLAINTS SECRET LIFE INSURANCE POLICIES, and read that article too.

Good luck, & I hope to see you on TV with your PICKET SIGN!

Remember, keep what's on your picket sign short & simple. All it should say is this-

*Go to & type in- BANK OF AMERICA
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