- Report: #322075
Complaint Review: Bank Of America - Virginia Beach Virginia
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Bank Of America
bankofamerica.com Virginia Beach, Virginia, U.S.A.
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Bank Of America If you don't think BOA is ripping you off, find my mistake! Virginia Beach Virginia
This is a snapshot of my BOA account, try to find my mistake. Read the account from bottom to top and do the math. Even though I know what my mistake was, I don't find it at all fair. A hint: Its pending.
Pending CHECKCARD FARM FRESH
#338 -$6.02 $979.15
Pending CHECKCARD CITGO 7400
SAV-A- -$8.08 $985.17
Pending CHECKCARD 03/28 DOLLAR
-GENERAL #8204 -$9.45 $993.25
Pending 7-ELEVEN 03/28 #808805
396484 PURCHASE 7-E... -$17.74 $1,002.70
Pending CT VCOM ATM 03/28 #808
800003416 WITHDRWL ... -$22.00 $1,020.44
Pending DEBIT/HOLD ON 03/28 -$35.00 $1,042.44
Pending CHECKCARD 03/28 FARM
FRESH #338 VIRGINIA... -$49.00 $1,077.44
Pending ACH CREDIT PAYROLL ON ... $1,115.97 $1,126.44
03/27/2008 CHECKCARD 0325 7-ELEVE
N 16613 Q05 -$6.63 $10.47
03/27/2008 CHECKCARD 0326 FARM
FRESH #338 -$22.68 $17.10
03/27/2008 CHECKCARD 0326 SAV-A-T
ON Q39 -$25.65 $39.78
Statement Period as of 03/27/2008
03/24/2008 CHECKCARD 0320 FTD* -$10.49 $65.43 Ending Balance
My mistake! Its called "Time of Purchase". Even though the two charges are still pending, at the time of purchase there wasn't enough funds to cover both of them. I began with a balance of 65.43 the next three purchases equaled 54.93 leaving me a balance of 10.47. My payroll check deposits on midnight on Fridays. So Thursday evening I make 2 purchases for 6.02 and 8.08 that leave me in the red. My check hits the bank before those charges are cleared and the bank charges me 35.00 for what! They didn't have to take anything from their pockets to pay for those purchases. They still to this date have not been cleared, they won't clear till the morning and my checks already in the bank. Now I can see if I made the purchases and they cleared without the funds in the bank. But now there charging overdraft fees when you make a purchase and before the charges clear. Unfair.
And to all who say "Don't make purchases if you don't have the money in the bank" bull*&^%! I come into your shop and when I swipe my card I promise to pay you whats owed you. The bank acts (or is suppose to) as a middle man in that purchase. If the charges are pending then you haven't or the bank hasn't finished the process of paying you. Not my problem as long as when that purchase clears the funds are there.
Gerard
Virginia Beach, Virginia
U.S.A.
Pending CHECKCARD FARM FRESH
#338 -$6.02 $979.15
Pending CHECKCARD CITGO 7400
SAV-A- -$8.08 $985.17
Pending CHECKCARD 03/28 DOLLAR
-GENERAL #8204 -$9.45 $993.25
Pending 7-ELEVEN 03/28 #808805
396484 PURCHASE 7-E... -$17.74 $1,002.70
Pending CT VCOM ATM 03/28 #808
800003416 WITHDRWL ... -$22.00 $1,020.44
Pending DEBIT/HOLD ON 03/28 -$35.00 $1,042.44
Pending CHECKCARD 03/28 FARM
FRESH #338 VIRGINIA... -$49.00 $1,077.44
Pending ACH CREDIT PAYROLL ON ... $1,115.97 $1,126.44
03/27/2008 CHECKCARD 0325 7-ELEVE
N 16613 Q05 -$6.63 $10.47
03/27/2008 CHECKCARD 0326 FARM
FRESH #338 -$22.68 $17.10
03/27/2008 CHECKCARD 0326 SAV-A-T
ON Q39 -$25.65 $39.78
Statement Period as of 03/27/2008
03/24/2008 CHECKCARD 0320 FTD* -$10.49 $65.43 Ending Balance
My mistake! Its called "Time of Purchase". Even though the two charges are still pending, at the time of purchase there wasn't enough funds to cover both of them. I began with a balance of 65.43 the next three purchases equaled 54.93 leaving me a balance of 10.47. My payroll check deposits on midnight on Fridays. So Thursday evening I make 2 purchases for 6.02 and 8.08 that leave me in the red. My check hits the bank before those charges are cleared and the bank charges me 35.00 for what! They didn't have to take anything from their pockets to pay for those purchases. They still to this date have not been cleared, they won't clear till the morning and my checks already in the bank. Now I can see if I made the purchases and they cleared without the funds in the bank. But now there charging overdraft fees when you make a purchase and before the charges clear. Unfair.
And to all who say "Don't make purchases if you don't have the money in the bank" bull*&^%! I come into your shop and when I swipe my card I promise to pay you whats owed you. The bank acts (or is suppose to) as a middle man in that purchase. If the charges are pending then you haven't or the bank hasn't finished the process of paying you. Not my problem as long as when that purchase clears the funds are there.
Gerard
Virginia Beach, Virginia
U.S.A.
2 Updates & Rebuttals
Edgeman
Chico,California,
U.S.A.
If you truly believe what you wrote in the last paragraph...
#2Consumer Suggestion
Sat, March 29, 2008
Then you will find yourself stuck with many more NSF fees in the future. It's that simple.
Robandmar01
Fort Wayne,Indiana,
U.S.A.
Available balance went below 0
#3Consumer Suggestion
Sat, March 29, 2008
You where charged because your available balance went below 0. This is listed very clearly in your TOS from BOA ( they are one of the best banks at describing this in their TOS~ more banks need to follow their suit). In this day and age you can not use funds in your account before they are available. There is no more float or spending your paycheck before it is in the bank...... the banks have changed this so if you try to do it you will be hit with a fee every time. Unfortunatly if you live paycheck to paycheck you need to examine your TOS and make sure you know all the rules because those are the people that are going to be paying more fees with this change in rules. Is it a ripoff? No, they disclose it so you do know about it. Is it fair? I use to say no but more and more I have to say yes..... people should not be floating transactions. If you spend your avaiable balance down to 0 you have received goods and/or services for that money... it should not be used to cover another transaction.
