Bank Of America Overdraft Protection Scam Nationwide

The charge was $5.95 and with keep the change it would have posted as $6.00. When this $6 was taken from your account it made your balance a negative $2.53 which means you has $3.47 in the account when you spent the $5.95. This means you spent more than was available in your account and therefor you got the fee. I'm happy to hear they refunded it for you this time, but don't expect it to happen every time.

As far as posting order, most if not all banks post from largest to smallest. So it doesn't matter that 'only 1 transaction' over spent the account. What matters iswhen the transactions are posted (yes, from largest to smallest) how many times does the balance post to the negative. This is the number of fees you will be charged. You can argue the point with the bank all you want, but you would do your daughter a better service in teaching her notto spend more money than she has available and that way she won't get any fees.

The charge was $5.95 and with keep the change it would have posted as $6.00. When this $6 was taken from your account it made your balance a negative $2.53 which means you has $3.47 in the account when you spent the $5.95. This means you spent more than was available in your account and therefor you got the fee. I'm happy to hear they refunded it for you this time, but don't expect it to happen every time.

As far as posting order, most if not all banks post from largest to smallest. So it doesn't matter that 'only 1 transaction' over spent the account. What matters iswhen the transactions are posted (yes, from largest to smallest) how many times does the balance post to the negative. This is the number of fees you will be charged. You can argue the point with the bank all you want, but you would do your daughter a better service in teaching her notto spend more money than she has available and that way she won't get any fees.

The charge was $5.95 and with keep the change it would have posted as $6.00. When this $6 was taken from your account it made your balance a negative $2.53 which means you has $3.47 in the account when you spent the $5.95. This means you spent more than was available in your account and therefor you got the fee. I'm happy to hear they refunded it for you this time, but don't expect it to happen every time.

As far as posting order, most if not all banks post from largest to smallest. So it doesn't matter that 'only 1 transaction' over spent the account. What matters iswhen the transactions are posted (yes, from largest to smallest) how many times does the balance post to the negative. This is the number of fees you will be charged. You can argue the point with the bank all you want, but you would do your daughter a better service in teaching her notto spend more money than she has available and that way she won't get any fees.

I just want to make clear that after analyzing my case the bank reverse the charges that they made on my account.

And as for you Mr. Mike from New Jersey. THe shortage was not 5.95 it was 2.53 which resulted from keep the change program. Maybe, im new at this. So there.
But it really is a big money-making system of banks nowadays. So, Beware!

I see the comments from Mike and can only assume he works for BOA. My daughter is 19 and has an account there. I have been dealing with them for weeks now to adjust her over limit fees. I agreed to cover 1 of them because it is legit - the others are of their own creation.

When a Monday comes they legally should draft out the amount in the chronological order they were accepted. In her case she made several small debits starting on THURSDAY for $1 & $2 then on SUNDAY she made a charge that put her over her limit. They posted them all in order of amount with no regard to the date of purchase & now she has 5 ($170) in overdraft fees. I transferred money to cover the one actual overdraft so it truly should not have posted either but the transfer was held up by my bank so I allowed extra to cover the ONE legit overdraft fee. She is still negative $135 and they refuse to help her at all. If you were you I would rethink any allegiance I pledge to a bank that is this unscrupulous. I personally bank at SunTrust (out of convenience only as they are not much better). The only bank I have ever dealt with that was truly caring and approachable was Wachovia and that was several years ago so I cannot vouch for them now.

Work for them if you please - we all need a job but do not insult yourself by defending their practices.

The $35 fee you were charged is not overdraft protection, it's an overdraft charge for being negative. It doesn't matter if you covered it soon, you are charged it immediately when you go negative, as it should.

As for your question about the banking laws, they say it's ok to charge people for spending money they don't have.

Oh, and you claim that this all happened because you enrolled in their "save the change" program. This can't be, based on what you claim. If you made the purchase of $5.95, they would round up to $6, no way you can come up with a balance of negative 2.54 as you say. Plus it's not the banks responsibility to monitor your activity including the keep the change. It's yours. period.