I was a long time Boa customer 10 + years. originally I had the cheap bank account, low cost, use atm's don't use tellers. Eventually they dropped that plan for me and started nickel and diming me more than $40 per month. eventually I notice this and talk to the bank manager, it had been going on for years. I was pissed (stupid for not noticing earlier). But thats just complete b.s. to do that kind of stuff. similar to your 'available balance' b.s.
Your story is pretty similiar to my exp with BOA. I didn't understand how a cash deposit isn't avalible the same day even though my receipt says it is. I of course threaten to close my account and they were fine with it. I went to Wachovia and thus far they been cool to refund overdraft fees that were my fault.
As an aside, just a heads up on another experience some may have had about BoA and their fees. Luckily I read the fine print on this one so I knew about it -- i didn't feel like I got screwed, but I felt like it's a little deceptive considering most people don't read the fine print. I'm sure everyone is aware of the "keep the change" program BoA has advertised for the past couple of years. Well, in order to participate in the keep the change program, you have to open up a "free" savings account for them to transfer the "change" to. The catch is you have to maintain a continuous balance of $300 in that savings account or they will charge you $3 for every month that you don't. Now, $300 isn't all that much, but for the people who would likely be attracted to BoA to open an account for a program that allows you to "Keep the change," a continuous $300 balance is probably more than they will keep in a savings account, effectively negating much, if not all of the actual "savings" that BoA helps you out with in the "keep the change" program.
Odd. I've been with Bank of America since 1993. I have thought of changing a few times, but I digress. Anyway, when I make a deposit (non-payroll of course, those go in directly), either through the ATM or the branch teller, they only give me 10% of it for immediate use/withdrawal. The rest of it is added to my account the next business day (at midnight). So I am surprised that they allowed the entire deposit, but then you were overdrawn. Something isn't right here.
I can't complain about Bank Of America.. every month or two they seem to put a free $25 in my account.
See, mine is even different than that. If I deposit cash, it's available immediately. If I deposit a check or the like at a teller, nothing is available until the next day. If I deposit at an ATM, the first $100 is available immediately with the rest available the next day. But nothing that isn't truly available shows on my available balance at the ATM, either.
I make my deposits by ATM at Wells Fargo. When I get the receipt, the first $100 is available for use, because it gives me two balances. One is the balance with the deposit added. The other is the available balance which is $100 plus the previous balance. For a bad story with WAMU, I was very low on my balance, but really needed some gas. So I fill up at about 11:45 at night(had to use debit card as nobody there to take the cash), then proceed to the WAMU ATM for a deposit of about $50(had a balance of about $20, tank was $40). The next day they had already deducted the gas tank(Wells Fargo usually processes my gas fillups 2 or 3 days later) and hadnt put the deposit in. Really ticked me off that they would process that gas transaction so quickly when the balance wasnt there to cover it. I think some banks can hold transactions a while to try and get you on a overdraft. Might be an algorithm in their computer looking for certain balances and transaction amounts.
I'm impressed that no one has come in to defend the bank in this situation. Why bank sucks: 1. They charge $30+ for an overdraft fee. I don't care what you think what religion, political party, or whatever that is a f**cking rediculous amount to charge for an overdraft fee and they will charge it even if the item was a dollar menu item from McDonald's. Now the funny thing is all of these fees have all magically risen in the same amount of time. Call of the major banks they all charge close to the same. Collusion anyone? 2. Banks rearrange charges so that the largest charges come out first and the smallest last. It does not matter that you spent $4 at Starbucks and $5 at Burger King on Monday and then spent $100 at Walmart on Tuesday. The $100 will be deducted first and the smaller charges second. That way the bank will get two fees instead of one. This is done purposefully and is done at all banks. I have discussed this with several banks, the justification is that large charges are more important because typically they are mortgage, car payment, electric bill, and we wouldn't want those getting denied. Granted but then why do you need to rearrange charges that are $5, $10, etc.? 3. Voluntary overdraft protection. This sucks when you're married. Payday is tomorrow and you're starving and you know that there is like $10 bucks in the account. So you go to Burger king and get your meal. You go home to discover the wife ran the card of $9 bucks in gas. Why didn't the card decline at Burger King? You didn't feel like paying an extra $30 for that meal? Some banks allow you to overdraft and then charge you a fee for it. It's BS. I went to the bank and discussed it with an employee. They said it was for emergencies like if you had a flat tire and needed a replacement. Oh and it's not really voluntary because i could not get them to turn it off. So here is how I got around it. Go to a credit union they typically charge a lesser fee mine is like $21 then I got a savings account and direct deposit everything in there. I can still have my car insurance take out their money automatically. The nice thing is I pay everything in cash and if my account does go negative they don't charge me that lovely $5 a day. Banks are a cancer to this planet. The correct term for those fees are f**k you fees since all they are for is to f**k you. Spread the word I am trying to get this term into the dictionary.
Unless I am missing something, I don't see why anyone would want to join that program. I've lost track how many times they've asked me to join that program.
Man, I had it real bad one time. I didn't realize how low my account had gotten. I bought some tickets to the Stros games (playoffs against the braves) and partied in DT houston. The next day when I was back in College Station I had to return some movies I had gotten from the red box. ($1 rental each). Little did I know I was over drafting. EACH one of those $1 rentals cost me $32 plus fee. That there was already nearly $100. (the stupid machine charges you THREE separate times even though I returned them all at the same time. )by the time everything added up I was at -$700 I couldn't believe it, I had ALWAYS been good with money. It was my first time ever to be in dept. I quickly paid it up that month, but man it sucked.
well, thanks for those that told me to file a claim with the BBB. BOA called me today and is refunding $70 of the bank overdraft fees. I haven't argued the credit card stuff yet. I would have preferred to get all of the money back, but I'll take this.
You should call their CC company and tell them the issue was resolved so you'd like your money back. Don't give up now that you're this close.
I got 9 overdraft fee's worth $35.00 each. thats $315 dollars of rape. I called them to see if they could waive ANY of the fee's and they refused. I too am a college student with a mortgage each month from boa as well! bastards.
I truly do not believe I overdrafted 9 times either, no way in hell i am that crappy with my money, its never happened to me before...I just can't prove that I didnt..
Banks are a dime a dozen these days. Quit Bank of America and open an account somewhere else. They will probably even offer you back the money you lost in an attempt to keep you as a customer.
Have you checked your account balance online? You should be easily able to prove/disprove if you were overdrawn.
