Bank Of America Wouldn't Take My Deposit And Then Ripped Me Off $200 ripoff, overdraft fee, fees, overdrawn, Norman Oklahoma
On Thursday, 11/13/2003, I brought my paycheck to my local Bank of America, as I always have before. This time, however, I was informed that since my check was out of state (it ALWAYS had been for as long as I worked there), it was going to take 7 days before posting to my account. The teller told me this was because I was a *new* customer and I had a balance of $100 in my account.
I was angry and called the bank that the check was from (Wells Fargo), and I told them the routing and account number and the teller on the phone told me there was definently enough to cover it. The Bank of America teller still said no. I just moved here for school and I didn't have any way of cashing the check somewhere else and coming back, so I drove the 200 miles to Texas to the bank it was from and cashed it. HUGE INCONVENIENCE.
I needed the cash quick cause I knew I had a couple check card transactions coming through (all for under $10). So, after all this I show up at the bank the next morning to make my CASH deposit and I put over $600 in the account. By the end of the day, I was left with about $300. I need to pay my bills and I have already called the Bank of America customer service line and they were no help. They told me they didn't know why the teller told me that and that there is nothing I can do about my overdraft fees. The CUSTOMER SERVICE representative was extremely rude.
I don't know how to reverse them, and I don't feel that Bank of America should be charging me over $200 for them saying that I had less than $50 go through that was overdrawn. I was overdrawn for MAYBE an hour before I added all the funds and if they had accepted my paycheck immediately none of this would have happened at all. I can't afford with school and bills for them to take $200. Please someone give me suggestions.
Lisa
Norman, Oklahoma
U.S.A.
8 Updates & Rebuttals
Kim
Gilbert,Arizona,
U.S.A.
you have no idea on how much fraud passes through tellers hands
#9Consumer Suggestion
Thu, November 20, 2003
Spending money you don't have in the first place. What you are being told is correct.
Lisa, apparantly you have no idea on how much fraud passes through tellers hands, most of it committed by new customers.
If your employer offers Direct Deposit-do it. I am surprised banks even cash checks anymore so many of them are fraudulent.
You can also go to a local Wells Fargo Bank and cash it there, if you need the $$$ immediately.
Krista
Wichita,Kansas,
U.S.A.
$100 immediate credit when you deposit in the atm
#9Consumer Suggestion
Wed, November 19, 2003
I don't know how that branch works, but the one's here let you have $100 immediate credit when you deposit in the atm. Of course the date that it will show will depend on the cutoff. Maybe you could ask about that policy for future situations like this.
Lisa
Norman,Oklahoma,
U.S.A.
go to college or something instead of spending your life being a lousy bank teller?
#9Author of original report
Wed, November 19, 2003
actually, when i went in to make my deposit even before i was overdrawn the teller told me i had 68 dollars in there and less cleared. and ive had other banks put checks right through, and bank of america also did for the past 4 paychecks so i dont see why theyd treat it differently now. why don't you go to college or something instead of spending your life being a lousy bank teller?
Lisa
Norman,Oklahoma,
U.S.A.
go to college or something instead of spending your life being a lousy bank teller?
#9Author of original report
Wed, November 19, 2003
actually, when i went in to make my deposit even before i was overdrawn the teller told me i had 68 dollars in there and less cleared. and ive had other banks put checks right through, and bank of america also did for the past 4 paychecks so i dont see why theyd treat it differently now. why don't you go to college or something instead of spending your life being a lousy bank teller?
Lisa
Norman,Oklahoma,
U.S.A.
go to college or something instead of spending your life being a lousy bank teller?
#9Author of original report
Wed, November 19, 2003
actually, when i went in to make my deposit even before i was overdrawn the teller told me i had 68 dollars in there and less cleared. and ive had other banks put checks right through, and bank of america also did for the past 4 paychecks so i dont see why theyd treat it differently now. why don't you go to college or something instead of spending your life being a lousy bank teller?
Lisa
Norman,Oklahoma,
U.S.A.
go to college or something instead of spending your life being a lousy bank teller?
#9Author of original report
Wed, November 19, 2003
actually, when i went in to make my deposit even before i was overdrawn the teller told me i had 68 dollars in there and less cleared. and ive had other banks put checks right through, and bank of america also did for the past 4 paychecks so i dont see why theyd treat it differently now. why don't you go to college or something instead of spending your life being a lousy bank teller?
Sarah
Olympia,Washington,
U.S.A.
Bank of America Rules of Deposits ..They will get you any way they can
#9Consumer Comment
Wed, November 19, 2003
When you originally signed up for a Bank of America account, there was an agreement where it may take up to 24 hours for a deposit to be posted. On most receipts, they say "Funds May Not Be Available For Immediate Withdrawl." Even if you've cashed your Wells Fargo check at Bank of America a million times, they can still hold the money for seven days because it's not their check. I once made the mistake of making an ATM (it was after regular teller hours) deposit after their cut-off time and had a few fees with a returned check even though I had the money there at that moment in time, it took over 48 hours for that deposit to post to my account. But this is how they make money. They will get you any way they can and all the teller was doing was protecting herself from having her paycheck cut by the possibility of your paycheck returning.
Also, as for being a "new" customer, your customer relationship is established per branch. And especially per state. Each state has a different routing number and they all do not work the same as for the age of your account.
Jessica
Columbia,South Carolina,
U.S.A.
This is not a rip off, This process is governed by federal regulations
#9Consumer Comment
Wed, November 19, 2003
I work at a bank, and I see this same situation all day long. You admit that you had checkcard purchases that were going to come through, so that's why you needed your deposit to post immediately. Well, if you wouldn't make purchases when you didn't have the funds in your account, you wouldn't have to worry about this. It is technically illegal to authorize a purchase on non-existent funds. Even though you verified that the funds were available for the check, that doesn't mean that the account owner won't walk into the bank five minutes later and withdraw all the funds. That's why it is necessary to place the check on hold until it can travel through the Federal Reserve system and physically clear the other account. This process is governed by federal regulations, not just your individual bank. Bottom line, don't spend money you don't have yet. It's that simple. None of this is your bank's fault.