- Report: #396659
Complaint Review: Bank Of America - Nantucket Massachusetts
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Author Confirmed
Why?
Bank Of America
Sparks Ave Nantucket, 02554 Massachusetts, U.S.A.
Phone:
800-432 1000
Web:
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Bank Of America overdraft item fee scam.5 overdraft fees in one day.Deliberate interference with realtime charges Nantucket Massachusetts
Bank of America have on numerous occasions imposed on me, an overdraft item fee,without any prior notice or subsequent explanation.They sent my account into negative balance with an unspecified and unheralded overdraft fee of $35,and then charge me another $35 fee for each subsequent transaction made.
Obviously I cannot monitor my balance continuously,(I work long hard honest hours unlike some folk), so I require and expect that adjustments made to my account by either me or Bank of America, are made apparent to me in real time.
I know that modern technology enables realtime reporting of account transactions and balances.Any transaction I make should be instantly recorded and made apparent to me .If I make a debit card purchase in a retail outlet,while my account has a positive balance,the retailer should be credited immediately and I should be instantly debited,and notification made instantly to both parties.
Bank of America seem to intentionally defer the posting of this vital information,in an attempt to incur concurrent penalties on their customers.Put simply,this is a scam.I have never encountered this kind of nefariety with any other financial organisation,and I am angry and offended.
To say anymore right now would be a reiteration of the many other charges of this nature against Bank of America.I will conclude with a plea to all who read this and who have shared this disgraceful experience.Do not let this pass.Let's make Bank of America accountable for these grevious transgressions against their own clients.If you tolerate this,your children will be the next victims.Help stop it NOW!
Ifyoutoleratethis
nantucket, Massachusetts
U.S.A.
Obviously I cannot monitor my balance continuously,(I work long hard honest hours unlike some folk), so I require and expect that adjustments made to my account by either me or Bank of America, are made apparent to me in real time.
I know that modern technology enables realtime reporting of account transactions and balances.Any transaction I make should be instantly recorded and made apparent to me .If I make a debit card purchase in a retail outlet,while my account has a positive balance,the retailer should be credited immediately and I should be instantly debited,and notification made instantly to both parties.
Bank of America seem to intentionally defer the posting of this vital information,in an attempt to incur concurrent penalties on their customers.Put simply,this is a scam.I have never encountered this kind of nefariety with any other financial organisation,and I am angry and offended.
To say anymore right now would be a reiteration of the many other charges of this nature against Bank of America.I will conclude with a plea to all who read this and who have shared this disgraceful experience.Do not let this pass.Let's make Bank of America accountable for these grevious transgressions against their own clients.If you tolerate this,your children will be the next victims.Help stop it NOW!
Ifyoutoleratethis
nantucket, Massachusetts
U.S.A.
2 Updates & Rebuttals
Ken
Randolph,Massachusetts,
U.S.A.
Do I understand correctly?
#2Consumer Comment
Tue, December 02, 2008
My household accounts are at BoA, my personal accounts are at a credit union. I have never paid an overdraft at either place. I would suggest that this is because I try to be responsible enough to maintain my accounts correctly. Am I one of those folks who does not work long enough hours to suit you? Apparently. The reality is that you do not understand how the system works, you do not maintain your account responsibly, and your post has managed to make a pretty insensitive bank look just a little bit better.
Robert
Irvine,California,
U.S.A.
Your kidding right...
#3Consumer Comment
Tue, December 02, 2008
"Bank of America have on numerous occasions imposed on me, an overdraft item fee,without any prior notice or subsequent explanation." - Okay I'll give you an explanation. You spent more than you had in your account. "Obviously I cannot monitor my balance continuously,(I work long hard honest hours unlike some folk)" - I work 50+ hours a week and am able to balance a checkbook. If you write down your transactions in a register as you spend the money it takes just a few seconds. "...so I require and expect that adjustments made to my account by either me or Bank of America, are made apparent to me in real time." -This is not possible. Bank of America(or any bank) can not give you every transaction in real time. They do not know when you write a check, until it gets submited to them. They do not know when you swiped your Debit card until that merchant submits the transaction. Both of which Bank of America or any bank has no control over when they receive them. "I am angry and offended" - You should be angry...but at YOURSELF for not taking personal resposibility in managing your own account. "Help stop it NOW!" - Here is how to stop it. 1. Keep an accurate Register 2. Know the guidelines the bank uses to post debits and credits. If you refuse to do this then stop using your debit card. Go back to using cash.
