Bank of America charges to debit card for in suffient funds Beaufort South Carolina
I have a Debit Card with the Visa logo. While gone on vacation, my card had 20-24 debits that occurded that were not mine. I started getting magizines that I did'nt order. Mind you at this point I'm confused. Wondering whats going on. I sent the mags back. I have called Equivax and made my Fraud report. What I don't understand is if you have no money in your account how can the (bank ) pay for transactions and then charge you the consumer 35 dollars per transaction when there is no monies in the account? I've contacted the bank in regards to this fraud activity. But to no avail I'm not pleased with the results. Because they won't refund or credit my account. What do I do? Please feel free to contact me If you can offer advice or my next step to take.
Chrissy
beaufort, South Carolina
U.S.A.
2 Updates & Rebuttals
Steve
Bradenton,Florida,
U.S.A.
Understanding the difference between "debit" and "credit" transactions
#3Consumer Suggestion
Mon, September 03, 2007
Chrissy,
A transaction is a debit transaction ONLY when the PIN# is input at time of the transaction.
All other transactions are processed as a credit transaction, therefore, they do not check to see if you have money in the account or not. They only see it as a visa card.
Stay off the phone! Do all disputes in writing and send by certified mail, return reciept requested. Be sure to put the certified# on the letter itself, so you can prove exactly what you sent.
You will need to send a dispute separately by the means above for EACH transaction to each merchant. Demand to see something you signed or other authorization method.
Then send one to the bank that lists all transactions on one dispute.
However, it is my guess, based on being a BofA customer, is that you accepted a bunch of "free" magazines and did not bother to read the fine print that authorized the subscription. I get these "offers" all the time from BofA with my statement.
Good luck.
Robert
Wallingford,Connecticut,
U.S.A.
First, did you cancel the Visa check card?
#3Consumer Suggestion
Mon, September 03, 2007
Second, did you file a fraud affidavit in writing? If you only spoke to them by phone, you will need to submit the fraud claim in writing. You should be able to get the needed forms from your local branch. Do so as soon as possible. There is a time limit to submit the claim. After the bank has received the claim in writing they usually give your account a provisional credit while they investigate. They should also refund the associated fees. Check you account terms and conditions. There should be a section in there explaining their fraud claim procedure and where to send the forms.
Third, if you did file a fraud claim in writing and it was denied, you are entitled to get copies of the documents the bank used to investigate your claim.
Forth, you can file a complaint with The Office of the Comptroller of the Currency (OCC). Keep in mind though that they will only investigate if the bank followed proper procedure during the investigation of your claim.
Most banks will allow the account holder to overdraw their accounts with the check card as well as with an ATM transaction. Some banks have an opt out (at least mine does, but I have have to ask for it) but I think most do not.
Good luck.