Bank Of America Overdraft fees when account isn't negative Romeoville Illinois

When your bank begins the processing, they add up your checkcard holds, then they post from largest to smallest. Any item(s) that posts that leaves a positive balance BUT is less then the total amount needed for your holds is accessed an unavailable funds fee. Example if you have a total of $40 on hold (from one or more items, it doesn't matter), then anything that posts that night that leaves less than $40 in your account is accessed a fee. Since your checkcard was approved for the purchase (hold) that money is guaranteed to the merchant and must be paid when the documentation is received. So in the above example, when you have $40 in holds and something posts leaving your account balance at $37.50, at that point you have spent more money than you have in your account.
A couple of suggestions:
#1 See if your bank has an opt out on your checkcard so that it will only be approved up to the available balance in your account. Many banks have a program where in case of emergency you can take/spend more money than is in your account. However if you don't know about this it cab cause overdrafts.
#2 Keep a register of every transaction that you do, especially the checkcard purchases. A lot of banks are now offering a register the size of your card that you can keep right with your card to mark the transaction down as they occur.
Hope this helps

When that happened to me I had to keep calling the call center. I visted the bank. and called again. And I kept getting the run around. Until someome finally refunded the fees.


They have done that to be before, but i could not proove it because I had not printed it off the account activity that showed that the money was available. Their website clearly says your available funds can be used immidiately.


I called and told them to send me my terms and conditions. When I get it I shall march up to the bank and tell them to refund the previous OD fees that they had charged.


When you call the customer service, they may tell you some BS about "available balance" does not mean it is available (when their website clearly say it does). Or that you should look at the posted balance. They are also going to act like they don't have any record of when the deposit was actually presented. they are going to make it seem like it was deposited the day it posted.


I'm just really upset that they say the money is available when it is not!