- Report: #426824
Complaint Review: Bank Of America - Nationwide Florida
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Bank Of America
boa.com Nationwide, Florida, U.S.A.
Phone:
800-4501255
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Bank Of America BOA Charges Overdraft fees which they cause to happen Florida Nationwide
Bank of America has done it to me and others for the last time. Their deceptive practices to charge consumers overdraft fees. This is a game I want everyone to be aware of, and I think that a class action suit is near in the future.
How it works is this, lets say your checking account balance is $100.00 if you debit (but select to process as a credit vs. debit where you put the pin in) you will have an authorization on your account which deducts the amt you just debited from the $100.00 balance. If you are asking why you would want to process as "credit" over "debit" the answer is that they charge you for "debit" transactions (if you use the pin), however it seems they have caught up to how to charge us for using it as credit also... On with their scam..
So, I charge $98.00 we will say, I sign online and my balance will say $2.00 available in my checking account because they authorized the $98.00. Now, lets say that you go to charge something else thats $3.00, instead of declinging it because you do not have sufficient funds to cover this, they will authorize the transaction, and then charge you an overdraft for $35.00. Now you may be saying "duh everyone knows if you overdraft there will be a charge" but what you may have missed is what I am about to say next, they not only charge you for that, but all other "pending" authorizations that have not "posted yet" which will be things like your $98.00 charge. Even though it was already deducted from your balance, you will get charged another $35.00. for previous transactions because BOA does not consider them transactions. Isnt that unbelieveable?
Bank of America charges you for Authorizations even though it has already been taken out of your account previously. I cant even with them.
Shawnyb
norton, Massachusetts
U.S.A.
How it works is this, lets say your checking account balance is $100.00 if you debit (but select to process as a credit vs. debit where you put the pin in) you will have an authorization on your account which deducts the amt you just debited from the $100.00 balance. If you are asking why you would want to process as "credit" over "debit" the answer is that they charge you for "debit" transactions (if you use the pin), however it seems they have caught up to how to charge us for using it as credit also... On with their scam..
So, I charge $98.00 we will say, I sign online and my balance will say $2.00 available in my checking account because they authorized the $98.00. Now, lets say that you go to charge something else thats $3.00, instead of declinging it because you do not have sufficient funds to cover this, they will authorize the transaction, and then charge you an overdraft for $35.00. Now you may be saying "duh everyone knows if you overdraft there will be a charge" but what you may have missed is what I am about to say next, they not only charge you for that, but all other "pending" authorizations that have not "posted yet" which will be things like your $98.00 charge. Even though it was already deducted from your balance, you will get charged another $35.00. for previous transactions because BOA does not consider them transactions. Isnt that unbelieveable?
Bank of America charges you for Authorizations even though it has already been taken out of your account previously. I cant even with them.
Shawnyb
norton, Massachusetts
U.S.A.
3 Updates & Rebuttals
Consumerprod
Boston,Massachusetts,
U.S.A.
TV Producer
#2Consumer Comment
Mon, June 29, 2009
I'm a producer at a Boston news station. I'm working on a story about bank overdraft policy. Please contact me for more information. Thanks! [email protected]
Consumerprod
Boston,Massachusetts,
U.S.A.
TV Producer
#3Consumer Comment
Mon, June 29, 2009
I'm a producer at a Boston news station. I'm working on a story about bank overdraft policy. Please contact me for more information. Thanks! [email protected]
Striderq
Columbia,South Carolina,
U.S.A.
Okay...
#4Consumer Comment
Sat, February 21, 2009
If you know you have $2 available in your account and you choose to spend $3, how is this caused by the bank. You choose to overspend your account. Besides, the only thing you should look at for your balance is your check register. And what exactly do you mean by 'they charge you for debit transactions'? Are you saying BOA charges an additional fee if you run something as debit instead of credit? I'm not a BOA customer, never have been but I have a very difficult time accepting that statement as true.
