Bank Of America ripoff Dishonest drafing of fees Tampa Florida
I have had the same situation happen with Bank Of America, I had money in my account to cover debits that i di over the course of a day or two. I saw the debits pending and forgot about a debit that was due to come out two days later,Well of course when Tuesday came around back of America took out the larger debit first. I had money in my account to cover all the transaction of those forst couple of days.When the larger debit finally came out BofA took it out first.
It didnt matter that the debits of earlier where a couple of days ahead of the larger one. That in turn gave me overdraft fees for a few debits that the money was available when they were done. I should have only incurred the overdraft for just the larger debit. They are theives that make an excuse to rip people off.It always seems that in thois world today it is ok to steal if you are a big corportation. We have to stand up and complain together,we have to file a class action lawsuit together. There are strength in numbers and even a bank as big as BofA cannot stop all of us.
Christopher & Novia
Tampa, Florida
U.S.A.
4 Updates & Rebuttals
Stile
Phoenix,Arizona,
U.S.A.
Regarding Posting order
#5Consumer Suggestion
Sat, November 12, 2005
Most banks process transactions from largest to smallest, this is basically an industry standard process. The theory behind it is that this way your largest items (rent, car payment, electric bill, etc) have the best chance of clearing the account and the smaller more inconsequential items (the burger you had for lunch or the pack of gum you got at the gas station) may get rejected. This framework does also generate more overdraft fees compared to smallest to largest processing, but there is a good reason why banks process things this way.
Banks are for-profit institutions, not social service organizations. When you sign up for an account you agree to maintain that account within the terms of the deposit agreement. If you fail to do so, then the bank will penalize you accordingly.
If you balance your checkbook every time you make a transaction, then you will be able to avoid overdrafts because you won't forget debits that are due to come out.
Stile
Phoenix,Arizona,
U.S.A.
Regarding Posting order
#5Consumer Suggestion
Sat, November 12, 2005
Most banks process transactions from largest to smallest, this is basically an industry standard process. The theory behind it is that this way your largest items (rent, car payment, electric bill, etc) have the best chance of clearing the account and the smaller more inconsequential items (the burger you had for lunch or the pack of gum you got at the gas station) may get rejected. This framework does also generate more overdraft fees compared to smallest to largest processing, but there is a good reason why banks process things this way.
Banks are for-profit institutions, not social service organizations. When you sign up for an account you agree to maintain that account within the terms of the deposit agreement. If you fail to do so, then the bank will penalize you accordingly.
If you balance your checkbook every time you make a transaction, then you will be able to avoid overdrafts because you won't forget debits that are due to come out.
Stile
Phoenix,Arizona,
U.S.A.
Regarding Posting order
#5Consumer Suggestion
Sat, November 12, 2005
Most banks process transactions from largest to smallest, this is basically an industry standard process. The theory behind it is that this way your largest items (rent, car payment, electric bill, etc) have the best chance of clearing the account and the smaller more inconsequential items (the burger you had for lunch or the pack of gum you got at the gas station) may get rejected. This framework does also generate more overdraft fees compared to smallest to largest processing, but there is a good reason why banks process things this way.
Banks are for-profit institutions, not social service organizations. When you sign up for an account you agree to maintain that account within the terms of the deposit agreement. If you fail to do so, then the bank will penalize you accordingly.
If you balance your checkbook every time you make a transaction, then you will be able to avoid overdrafts because you won't forget debits that are due to come out.
Stile
Phoenix,Arizona,
U.S.A.
Regarding Posting order
#5Consumer Suggestion
Sat, November 12, 2005
Most banks process transactions from largest to smallest, this is basically an industry standard process. The theory behind it is that this way your largest items (rent, car payment, electric bill, etc) have the best chance of clearing the account and the smaller more inconsequential items (the burger you had for lunch or the pack of gum you got at the gas station) may get rejected. This framework does also generate more overdraft fees compared to smallest to largest processing, but there is a good reason why banks process things this way.
Banks are for-profit institutions, not social service organizations. When you sign up for an account you agree to maintain that account within the terms of the deposit agreement. If you fail to do so, then the bank will penalize you accordingly.
If you balance your checkbook every time you make a transaction, then you will be able to avoid overdrafts because you won't forget debits that are due to come out.