Complaint Review: BANK OF AMERICA ONLINE BANKING - Internet

You could have the funds and it can still come back NSF, causing a reduction in your account. I don't see a ripoff here other than your friend may have been trying to pull a fast one on BofA. It would take a lot of fees to hit $2200, esp since I think they max out NSF fees per day now.

You should always wait a day or two for money that is posted into a bank, any bank for the matter. An immediate transfer is not immediate in terms of actual cash being put into your account, from one account to another account, that process takes a few days to process because it is an external transaction. It is credited and will post at the end of the day, in a series of steps required for the money to transfer. I transfer money from my savings to checking in the event of a possible deficiency of money in checking, so to cover for a potential lack of funds. This process is immediate because you are not reaching outside of an account. It is within the same account that the bank says "ok youre putting money from here to here" you said "Speaking with BOA's associates lately, I was told no transfer could be made if funds are unavailable. On the 5th logically, funds were available for my friend to transfer online the money to me." --what method of online transfer did your friend use? moneygram, western union etc? if that is the case then that process takes 2-3 days to post to your account. Whereas your friend who transferred your money with a BOA account, the bank has to check his account, make sure that the money is there, recognize that he/she is a bank member, to your account, recognize who you are and move the money there. you said: "Speaking with BOA's associates lately, I was told no transfer could be made if funds are unavailable" either your friend transferred illegal money to your account or rescinded the transfer, or the funds were simply 'unavailable' causing your 2 x $35 Returned Non-sufficient Funds fees. -BOA will not intentionally cause your account to go into the red while causing you 2 x $35 Returned Non-sufficient Funds fees. Although I agree the $35 Returned Non-sufficient Funds fees are a ripoff, you agreed to the fee structure when signing up for your bank account with BOA. you said: "Bank of America committed illegal breaching of the sovereign account and applied an unissued by anyone General Power of Attorney to operate with my money in the way they 'needed'" According to the agreement YOU SIGNED AND AGREED WITH, BOA has the right to charge a fee in the event they have to cover for you when you go into the negative. Your job is to prevent that from happening, use cash when possible and avoid using BOA debit card/credit cards. You said "Additionally, BOA messed up the bank account of my friend to negative more than $-2,200" --I think the -2,200 is probally NSF and other insufficient fund $35 fees your friend has caused as a result from other transactions, and not as a cause from simply transferring money to your account. This could be a separate event.

your friend didn't have the money available in their account. The bank tried to transfer but when the money wasn't in your friend's account, they returned it from your account. Same process as if your friend had given you a check for deposit. You deposit it, the money's not there to cover the check in their account, the check is returned and the money taken back from your account. The fees were caused by your friend loaning you money they didn't have.