Complaint Review: Bank Of America

Many places where customers can write in tips do this, and has nothing to do with the bank. What happened is that the sushi bar authorized a certain amount or percentage above your bill, anticipating that when they bring you the receipt you will be adding a tip. They do this to make sure you have enough money. then, when they finalize the transaction, they only take out what you wrote on the receipt, and released the hold on the additional funds. That is where the mystery five dollars went.

Credit cards work the same way. You may also notice a similiar situation at gas pumps and hotels.

As for the maintenance fees, that indeed is a ripoff. Doesn't BOA have an out now about basically free everything, or am I thinking of a different bank? Have a nice day.

The reason you had a higher amount pending is as a result of what is called an authorization hold. When you use your checkcard, the merchant where you're making the purchase must obtain an authorization. If you're buying groceries, then the cashier knows precisely how much to authorize your card for. But when you make a purchase where the final total is uncertain (restaurants, automated gas pumps, hotels, etc) the initial authorization is a 'best guess' by the merchant.

So, the waitress took your card to the register, saw that you had a $90 bill (let's say) and thought you might leave at most a $20 tip, so she authorized your card for $110. This is what shows as a pending item on your online banking. You then receive the sales draft, put on a tip and total out $105, and sign it. This signed receipt is then turned into the merchant's bank, who then turns it in to BofA, who then pays the merchant's bank the $105. The $110 authorization falls off your account, and the $105 posts. The extra $5 is not missing, it is back in your account balance.

As far as the fees on your account, usually fees are charged if you fall below a minimum daily balance, don't receive a direct deposit that cycle, or make too many transactions. It depends on the type of account you have, and you'll need to check with the bank to see what the terms are to avoid fees on your account type.

The reason you had a higher amount pending is as a result of what is called an authorization hold. When you use your checkcard, the merchant where you're making the purchase must obtain an authorization. If you're buying groceries, then the cashier knows precisely how much to authorize your card for. But when you make a purchase where the final total is uncertain (restaurants, automated gas pumps, hotels, etc) the initial authorization is a 'best guess' by the merchant.

So, the waitress took your card to the register, saw that you had a $90 bill (let's say) and thought you might leave at most a $20 tip, so she authorized your card for $110. This is what shows as a pending item on your online banking. You then receive the sales draft, put on a tip and total out $105, and sign it. This signed receipt is then turned into the merchant's bank, who then turns it in to BofA, who then pays the merchant's bank the $105. The $110 authorization falls off your account, and the $105 posts. The extra $5 is not missing, it is back in your account balance.

As far as the fees on your account, usually fees are charged if you fall below a minimum daily balance, don't receive a direct deposit that cycle, or make too many transactions. It depends on the type of account you have, and you'll need to check with the bank to see what the terms are to avoid fees on your account type.

The reason you had a higher amount pending is as a result of what is called an authorization hold. When you use your checkcard, the merchant where you're making the purchase must obtain an authorization. If you're buying groceries, then the cashier knows precisely how much to authorize your card for. But when you make a purchase where the final total is uncertain (restaurants, automated gas pumps, hotels, etc) the initial authorization is a 'best guess' by the merchant.

So, the waitress took your card to the register, saw that you had a $90 bill (let's say) and thought you might leave at most a $20 tip, so she authorized your card for $110. This is what shows as a pending item on your online banking. You then receive the sales draft, put on a tip and total out $105, and sign it. This signed receipt is then turned into the merchant's bank, who then turns it in to BofA, who then pays the merchant's bank the $105. The $110 authorization falls off your account, and the $105 posts. The extra $5 is not missing, it is back in your account balance.

As far as the fees on your account, usually fees are charged if you fall below a minimum daily balance, don't receive a direct deposit that cycle, or make too many transactions. It depends on the type of account you have, and you'll need to check with the bank to see what the terms are to avoid fees on your account type.

The reason you had a higher amount pending is as a result of what is called an authorization hold. When you use your checkcard, the merchant where you're making the purchase must obtain an authorization. If you're buying groceries, then the cashier knows precisely how much to authorize your card for. But when you make a purchase where the final total is uncertain (restaurants, automated gas pumps, hotels, etc) the initial authorization is a 'best guess' by the merchant.

So, the waitress took your card to the register, saw that you had a $90 bill (let's say) and thought you might leave at most a $20 tip, so she authorized your card for $110. This is what shows as a pending item on your online banking. You then receive the sales draft, put on a tip and total out $105, and sign it. This signed receipt is then turned into the merchant's bank, who then turns it in to BofA, who then pays the merchant's bank the $105. The $110 authorization falls off your account, and the $105 posts. The extra $5 is not missing, it is back in your account balance.

As far as the fees on your account, usually fees are charged if you fall below a minimum daily balance, don't receive a direct deposit that cycle, or make too many transactions. It depends on the type of account you have, and you'll need to check with the bank to see what the terms are to avoid fees on your account type.

When they ran your card, they place a hold on the amount + a 15% tip. When they close the card out, they will put in the correct amount.