Bank Of America Financially Rapes Customers Through Friendly Service BofA regulary manipulates order of transfers, deposits and debits to maximize their fees on from your hide ripoff Internet

Yes, this occured just after the 1st of August. I have also had the experience of BofA completey losing a payroll deposit. Luckily I kept my deposit slip (hardly ever did before) and was able to make them correct the problem - within two days. I certainly didn't spend any money during that time because I know how BofA is.

Unfortunately, BofA is very similar to most banks these days. The banking industry seems to feel they have license to do whatever it wants with THEIR CUSTOMERS money because they have access and control over it. This is absolutely ABUSIVE, UNETHICAL and IMMORAL. Unfortunately, we haven't had anyone take action enough to make it illegal - but we should. And we should receive TREBLE damages because of the general arrogance and lack of good will.

Did this issue happen to you between July 26 and August 8 2007?

I think their system failed to post transactions properly over this period, but BofA is NOT admitting it. On 7/27/2007, I logged into BofA with a postive balance of several hundred dollars. On 7/28/2007 (a saturday), I logged into BofA after I received an OD alert. It made no sense. I had a positive balance, but the alert said I was negtive $0.24. Over the weekend, I made small purchases, and had no reason to suspect a problem.

However, on 7/30, BofA's system finally updated and posted transactions retroactive to 7/26/2007. It was 7/31, and I discovered that I incurred NSF on 7/26, 7/27 and 7/30 in one batched update that spanned several days with debits before deposits. How can their system update on 7/30 with a transaction inserted on 7/26? I received the 24 cent alert on 7/28 after my deposits. The negative 24 cents apparently occurred for one nano-second on 7/26/2007. I incurred an NSF on 7/27 which was not there either until 7/31. I then apparently went negative on 7/28 when I withdrew $300 from an ATM leaving a positive balance of approximately $100.

I made 3 small purchases for $20, $25, and $26 over the weekend in a foreign country. When the system finally updated, I did not realize there was a problem yet because I received another $400 in deposits that Monday which was available. I went to the ATM withdrew $300 when on August 3rd, I received a flurry of OD notices but when I accessed Online Banking, I couldn't see any updated detail since 7/30. The system finally updated at midnight on 8/3 and every single transaction between 7/30 and 8/2 appeared at once.

The 8/2 closing balance was positive, and I received more deposits, but this time, their system failed to update until 8/8. I printed the page on 8/5, 8/6, twice on 8/7 and again on 8/8. The account never sent negative but it rearrange everything on 8/8 and I incurred fees every single day.

My purchases are int'l so BofA charges NSF on the purchase and their 3% Int'l Fee to pay overhead. If they didn't get me on the purchase, I was being hit at $35 for 3 cents. For 4 purchases, all under $27, I got hit with 8 NSF over two days because I pay double with the bank fee. Anyways, to make a long story as short as possible, after BofA's 8/3 update that posted transactions to the prior 3 business days in an order that caused NSF, it didn't update again until my account's closing balance on 8/8 appeared!

I have print outs showing pending transactions, deposits, etc., and even an authorization being approved when my Matrix should be ZERO and account apparently was negative. By the time the system updated on 8/8 at midnight (revealed on 8/9), I discovered that I incurred NSF on 8/3, 8/6, 8/7 and 8/8 for items that were clearly showing as Pending online on the dates that BofA posted them. I have alerts from Online Banking that make no sense and transaction dates of 7/27 that posted as 7/26 and actually appeared on 7/30 with the NSF of 7/27 at the same time.

Of course, they blame me, even through at the end of the week, my account is positive and they've swiped $100s every single day of the week. To top it off, it started with 24 cents that I couldn't see. There were more than sufficient funds to cover these transactions and I would have covered the $100s in NSF if I knew about them as I incurred them.

Obviously, this information was hidden from view for several days at the end of July and first week of August. BofA intentionally delayed deposits for just enough time to post a transaction in front of the deposit. Over this period, I logged into BofA twice a day and printed my account history because I had never seen my account go more than 2 days without activity. When it finally updated, debits were paid before deposits posted. NSF were charged right after the deposits, and i discovered that I had lost $100s over 6 days to something that I could have prevented if I could see my account detail.

From August 2 and August 8 2007, Online Banking failed to update at midnight with any current transaction detail. Not only were my electronic deposits delayed by 5 days, but my account finally updated on 8/09/2007 (midnight of 8/08) with transactions posted on 8/03/2007, 8/06/2007, 08/07/2007, and 08/08/2007.

How is that possible? Everything appeared at once, and I had incurred NSF every single day, multiple times when my account was supposed to be positive. This is the first time I've witnessed retro-active posting dates, and transactions that really do move.

I'm just wondering if anyone else noticed strange activity during this time period. I've been banking with BofA since 1991, and I've been using Online Banking since 2002. I know delays can occur and I don't expect perfection but when the account doesn't update for 6 days to then post all transactions retroactive and before each deposit, I have to question whether this was intentional on BofA's part because they are not willing to admit any fault and claim there were no delays. That's impossible, and I have a feeling that others experienced this too. If yes, then perhaps we could take action together because they definitely moved debits before deposits over this period. Of course, the account is updating like normal again.

Lastly, during the end of July 2006/early August 2006, they pulled some kind trick too which caused customers to be confused and incur NSF because deposits were not made on time. I believe this is intentional. Perhaps, they do it long enough to close their books at the end of July with higher income. It's absolutely ridiculous. Someone needs to investigate BofA's practices.

The third occurance was in August, 2007 when BANK OF AMERICA processed my ELECTIVE transfer from my checking to my savings BEFORE PROCESSING MY LEGAL OBLIGATIONS. The automated savings transfer resulted in a $10.00 overdraft charge and two subsequent overdraft fees of $70.00 for debits totalling just over $10.00.