Bank Of America Steals Over $200.00 From Elderly Woman On Limited Income USA Nationwide

"The account was in overdraft, but, we were told that as long as a payment was made to cover any overdrafts by midnight everything would be OK. A transfer (via the banks website) was made around 11:20pm Pacific Time, where we live. but the bank is claiming two things:

1. The transfer was made at 2:20am Eastern Time. But here it was only 11:20 pm Pacific Time.

2. The bank stated that transfers made between 10:45pm and 11:59pm post the following day [I have never heard of money being deposited after 2pm being available the next day. WHO at the bank said this?]. We were never told this. We were told 12 midnight was the deadline."


You are trying to float purchases. You cannot do this (I have never heard of anyone at a bank suggesting that you can spend money, THEN transfer the funds to cover them). Once the card is swiped, the money is considered spent.

"I can't believe Bank Of America would steal over $200.00 from an elderly woman who's only income is her Social Security Retirement check."

I fail to see how this has any bearing on spending money that isn't available. If this were a valid argument for not getting overdraft fees..couldn't the same be said for someone who has expensive tastes, but doesn't make enough money to buy the things they want, or someone being in college and only working part time, or someone who has been laid off and lives on unemployement? No. The bank doesn't care in the least why money was spent BEFORE the money was in the account.

She needs to be smarter with her finances. If the money isn't AVAILABLE in the account, then she doesn't need to spend it. Period.