Bank Of America Overdraft Item Fee Rip Off - Charged Nine Times in One Day! Internet

I did not write a complaint letter to the Customer Service in Arizona, instead, I went to a branch in Downtown Boston (City Plaza) and asked for a phone number/mail address of a supervisor in Boston. City Plaza staff was incredibly helpful, they gave me the e-mail address of the assistant to the Consumer Market Executive. I sent her an e-mail, she forwarded the e-mail to the Market Executive, and to my surprise, ME called me! In a week, we managed to schedule a phone meeting, and I got additional six refunds.

I learned that BoA is going to change its overdraft item fee.

Shortly speaking, it took me six weeks, but my story has a happy ending.

It reminds me of a Rip Off Report posted back in August of 2007 by a woman named Betty. Her credit card interest rate went from 10.99% to 32.44% for no apparent reason.

It reminds me of a Rip Off Report posted back in August of 2007 by a woman named Betty. Her credit card interest rate went from 10.99% to 32.44% for no apparent reason.

Why else would someone bother to report it here if it wasn't true?

The problem is..some responders see the problem as poor account management and the solution is a register...There is some truth to that..but you could also say if you never drive a car..you will never have an auto accident. Bunk,,accidents happen bottom line..everyone with even half a brain knows this.


Many of us see the problem as too many overdraft fees being avalanched from a single overdraft due to re sequencing.

The bank and bank defenders understand that overdrafts are going to occur, hence they have these policies. The bank does really not care if you use a register (although that's what they will tell you when you ask them what the hell is going on)...they only care that they can get away with fleecing people. And this is why they promote on line banking so rigorously. Online banking is unreliable, so yes..you do need to keep a register. But the register can't prevent the re sequencing of fees that will occur if you do overdraft due to error, oversight or necessity.

And THAT my friends is the TRUE issue at hand.

If that's TRUE, then all the Rip Off Reports that JIM is reading would have to be NON-FICTION, correct?

Stick to the subject being complained about....

I'D LIKE TO GET YOUR OPINION ABOUT THE FOLLOWING STORIES, AND THE QUESTION I HAVE, OKAY?

Of all the overdraft stories I've read, this is the most obvious case of account mismanagement on the part of the account holder ever seen.  This REALLY was your fault and there is not one account holder apologist that would disagree.

To the OP, it doesn't matter what the balance online says.  It only matters what is in your check register.  If you have a check register, you don't ever need to check your balance online.  On top of this, the balance in your account was not $275.00.  The balance in your account was really -$25.00 before you used the debit card and it had been that balance for some time; certainly more than one day - possibly 2-3.

Some would argue the bank should process transactions on the date in which the transaction occurred.  Since you wrote that check three weeks ago, that check would also be posted first - before any deposit.  In other words, there is no scenario that would have resulted in anything except eight overdraft transactions to you.

If you would like to find the person who is at fault, find a mirror.  You should see the person quite clearly.  You ripped yourself off and there is no bank or credit union out there that would have treated the situation any differently.

Keep a check register, stop using a debit card, and stop looking online for your balance.  That should fix your problems immediately; you'll never have to depend on customer service (why would you anyway?) for anything.

On the first day of Christmas my banker gave to me-

I think the reason you get different answers and reasons is because it is so confusing..the representatives can't even figure it out. From what I understand the bank uses a very sophisticated program designed to yield the maximum they can legally take from you.. resulting initially from a SINGLE overdraft.

But..just because it is legal, and may be in the terms and conditions..does not mean it does not qualify to be considered a rip-off. It is a rip off. There have been and will continue to be class action suits, I am involved with assisting with one coming up..but this is only a band-aid. We need to figure out a way to get congress to pass more restrictive laws regarding what the banks can get away with.

It kills me enough that many of these banks received a bailout using our tax dollars..but on top of that they run up the fees like that for ONE overdraft and cascade it into many by re sequencing the transactions. As you stated you made sure you had funds available..but were slammed with all those OD fees.

And then the bank re sequences it and tells you the funds were not actually available. So..why did they let it go through? Did you authorize the bank to give you a short term loan if transactions do not have the funds to cover it? How much did you authorize and at what interest rate is in your terms and conditions contract? Something fishy is going on and the worst part is that the government is allowing this. I am a firm believer in small government..but the few things I need them for..like protecting me from getting hit with missiles..and protecting  big corporations from taking advantage of working class people, I hope they can do effectivly.

It clearly states in the banking disclosure papers you are given when you open an account that when processing time comes around deposits are added first and then they deduct the largest item first and work their way to the smallest purchase. Their reasoning, which makes sense is this: say you have 1200.00..A check comes thru for 1050.00 and then debits for 355.22 and 215.98. Obviously you don't have the funds to cover all three...They feel the largest item is usually of most importance like a mortgage payment and you would rather them pay that first and then pay the others. Yeah, you can look at it as a way to get more overdraft fees but is it really that hard to write a few numbers in a check registry and then add and subtract your activity. By doing that you don't have to even log onto online banking b/c you always have your own record of what you have....How can people scream RIPOFF about overdraft fees when they are spending money they don't have????

How do you not know that a $300.00 dollar check did not clear?

You went in the next day to deposit cash the check had already cleared.

Seems to me that in your reort the three reps gave you the same info.