ED Magedson – Founder
Bank Of America - BofAwww.BankOfAmerica.com Internet United States of America
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.
PLEASE WHERE'S THE CLASS ACTION SUIT FOR THIS ONE?!?! SIGN ME UP!!!
This report was posted on Ripoff Report on 09/23/2009 09:34 PM and is a permanent record located here: http://www.ripoffreport.com/reports/bank-of-america-bofa/internet/bank-of-america-bofa-debit-card-courtesy-fee-trap-ripoff-internet-499596. 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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