Bank Of America Rip off overdraft fees Los Angles California

Every BofA account holder has access to the very same information that the bank uses to assess fees. It is called a ledger, a check register, an account record, etc...

Let's assume that you have a $1,500 balance with no pending transactions and no checks out there. You make your car payment which comes to $387. You deduct $387 as soon as you make the payment and your ledger says that you now have a balance of $1,113.

Next you go to the gas station and get $26.43 worth of gas, but so far your online banking has only held $1. Since you know the exact amount that you paid, you enter $26.43 as well as the $5.65 you spent at McDonald's. Your balance is now $1080.92.

Now it is time to pay the rent of $1100. If you checked your online balance, you might believe that you still had $1113 or even $1500 in your account. However, you were smart enough to keep a ledger and know that your account is about $20 short, so you deposit some money before writing that check.

The OP may disagree that he shouldn't have to keep records or deduct from his pending balance, and honestly, he is free to do as he pleases. However, he shouldn't complain about the fees that this will inevitably result in.

Every BofA account holder has access to the very same information that the bank uses to assess fees. It is called a ledger, a check register, an account record, etc...

Let's assume that you have a $1,500 balance with no pending transactions and no checks out there. You make your car payment which comes to $387. You deduct $387 as soon as you make the payment and your ledger says that you now have a balance of $1,113.

Next you go to the gas station and get $26.43 worth of gas, but so far your online banking has only held $1. Since you know the exact amount that you paid, you enter $26.43 as well as the $5.65 you spent at McDonald's. Your balance is now $1080.92.

Now it is time to pay the rent of $1100. If you checked your online balance, you might believe that you still had $1113 or even $1500 in your account. However, you were smart enough to keep a ledger and know that your account is about $20 short, so you deposit some money before writing that check.

The OP may disagree that he shouldn't have to keep records or deduct from his pending balance, and honestly, he is free to do as he pleases. However, he shouldn't complain about the fees that this will inevitably result in.

Every BofA account holder has access to the very same information that the bank uses to assess fees. It is called a ledger, a check register, an account record, etc...

Let's assume that you have a $1,500 balance with no pending transactions and no checks out there. You make your car payment which comes to $387. You deduct $387 as soon as you make the payment and your ledger says that you now have a balance of $1,113.

Next you go to the gas station and get $26.43 worth of gas, but so far your online banking has only held $1. Since you know the exact amount that you paid, you enter $26.43 as well as the $5.65 you spent at McDonald's. Your balance is now $1080.92.

Now it is time to pay the rent of $1100. If you checked your online balance, you might believe that you still had $1113 or even $1500 in your account. However, you were smart enough to keep a ledger and know that your account is about $20 short, so you deposit some money before writing that check.

The OP may disagree that he shouldn't have to keep records or deduct from his pending balance, and honestly, he is free to do as he pleases. However, he shouldn't complain about the fees that this will inevitably result in.

Every BofA account holder has access to the very same information that the bank uses to assess fees. It is called a ledger, a check register, an account record, etc...

Let's assume that you have a $1,500 balance with no pending transactions and no checks out there. You make your car payment which comes to $387. You deduct $387 as soon as you make the payment and your ledger says that you now have a balance of $1,113.

Next you go to the gas station and get $26.43 worth of gas, but so far your online banking has only held $1. Since you know the exact amount that you paid, you enter $26.43 as well as the $5.65 you spent at McDonald's. Your balance is now $1080.92.

Now it is time to pay the rent of $1100. If you checked your online balance, you might believe that you still had $1113 or even $1500 in your account. However, you were smart enough to keep a ledger and know that your account is about $20 short, so you deposit some money before writing that check.

The OP may disagree that he shouldn't have to keep records or deduct from his pending balance, and honestly, he is free to do as he pleases. However, he shouldn't complain about the fees that this will inevitably result in.

I had the same experience. I was informed BofA changed their policy on pending transactions back in July of 2008, I received no notification of this change, and have been charged for overdraft despite maintaining a positive balance. Like you viewing the transactions online do not help because they aren't shown in the same way the bank sees them or treats them. It is crazy!