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Anyone Bank With Bank of America?

Discussion in 'Classic Menswear' started by bigbris1, Jun 19, 2007.

  1. bigbris1

    bigbris1 Senior member

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    Opulence
    I need you to transfer $25 into my account before 10:40PM Eastern time to avoid $140 in stupid overdraft fees.

    I will send you the money via paypal or just transfer it back to you when my direct deposit hits at midnight.
     
  2. usctrojan99

    usctrojan99 Senior member

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    Apr 7, 2007
    Why not borrow some money from a friend and go to an ATM and do it?
     
  3. sho'nuff

    sho'nuff Senior member

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    Irvine
    big if you are anywhere nearby i can go help you. you are not in orange county no?
    i could paypal you money, but then the transfer to your bank account will not occur for 2-3 days.
    hope you find someone to help
     
  4. mr monty

    mr monty Senior member

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    Why not borrow some money from a friend and go to an ATM and do it?

    Sounds like friends and family are all back in Nigeria[​IMG]
     
  5. lifersfc

    lifersfc Senior member

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    Jul 24, 2006
    If you carry any kind of decent balance on a regular basis, they will refund overdraft fees if you call them. Just make sure to fund the account quickly.
     
  6. bigbris1

    bigbris1 Senior member

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    According to the BoA rep the only way to avoid the fees would be to instantly transfer funds from another BoA account.

    I have money, but it would take too long to post to my BoA account. If I went to an ATM, the cutoff for all transactions in NYC is 5PM. The cutoff for online transactions is 10:45PM.

    The way they post transactions to your account, even ATM withdrawals made me end up in the red for a few hours. Sucks im going to get $140 in OD fees because I bought a $10 pair of RLP swimming trunks, $4.99 breakfast at McDonalds, & some gas, all today up until 6PM.

    They posted the ATM withdrawal from Monday first, which left me in the red. I like BoA because if I make a deposit at the ATM, the funds are immediately available. But they suggest I keep a 'register' of purchases to avoid this. Why even have paperless checking.

    Anyway, thanks to all of you who attempted to help.
     
  7. sho'nuff

    sho'nuff Senior member

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    i would call next day to customer service and escalate to the manager to explain (even though it is not bank error) that in good faith you tried to post payment to avoid overdraft.
    most likely they will comply and pardon this penalty. of course, if this is a rare case and/or first one ever happened.
     
  8. gracian

    gracian Senior member

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    Dec 23, 2004
    Yea, this has happened to me before with BoA. I liked them better when they were Baybank and then Fleet.

    Those are good suggestions that you should argue the charges, especially if you are a good customer.
     
  9. Joel_Cairo

    Joel_Cairo Senior member

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    Cambridge, MA
    Yea, this has happened to me before with BoA. I liked them better when they were Baybank and then Fleet.

    Those are good suggestions that you should argue the charges, especially if you are a good customer.


    personally. my favorite incarnation was the local Shawmut bank.
     
  10. SantaCruzGuy

    SantaCruzGuy Well-Known Member

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    Feb 8, 2007
    Stories like this remind me why I don't do business with certain banks such as Bofa or Wells Fargo.
    They're basically thieves.
    They're not there to help you, just help themselves[​IMG]
    I dropped both those banks ages ago like a hot potato.
    [​IMG]
     
  11. lawyerdad

    lawyerdad Senior member

    Messages:
    21,820
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    Mar 10, 2006
    According to the BoA rep the only way to avoid the fees would be to instantly transfer funds from another BoA account.

    I have money, but it would take too long to post to my BoA account. If I went to an ATM, the cutoff for all transactions in NYC is 5PM. The cutoff for online transactions is 10:45PM.

    The way they post transactions to your account, even ATM withdrawals made me end up in the red for a few hours. Sucks im going to get $140 in OD fees because I bought a $10 pair of RLP swimming trunks, $4.99 breakfast at McDonalds, & some gas, all today up until 6PM.

    They posted the ATM withdrawal from Monday first, which left me in the red. I like BoA because if I make a deposit at the ATM, the funds are immediately available. But they suggest I keep a 'register' of purchases to avoid this. Why even have paperless checking.

    Anyway, thanks to all of you who attempted to help.


    Don't know BoA policies in particular, but I would assume they meant an instant transfer from another account in your name (like a savings account) and not an EFT or wire from another accountholder's account. I've never really heard of a bank allowing retail checking customers inter-customer instant transfers like that.
     
  12. DNW

    DNW Senior member

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    Recession, Baby
    Don't know BoA policies in particular, but I would assume they meant an instant transfer from another account in your name (like a savings account) and not an EFT or wire from another accountholder's account. I've never really heard of a bank allowing retail checking customers inter-customer instant transfers like that.

    You can do it overnight, but it costs money. IIRC, it's about $19.
     
  13. lawyerdad

    lawyerdad Senior member

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    You can do it overnight, but it costs money. IIRC, it's about $19.

    $19 lol, what a joke.
     
  14. DNW

    DNW Senior member

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    Recession, Baby
    $19 lol, what a joke.

    Yup. Service fees is the cash cow for banks and credit card companies.
     
  15. bigbris1

    bigbris1 Senior member

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    Feb 3, 2007
    Location:
    Opulence
    Don't know BoA policies in particular, but I would assume they meant an instant transfer from another account in your name (like a savings account) and not an EFT or wire from another accountholder's account. I've never really heard of a bank allowing retail checking customers inter-customer instant transfers like that.
    He said, "from someone you know who banks with us" Since the direct deposit hit last night, the charges are showing to be deducted from that amount (new black balance) & only shows one item in red. If the OD fee is assessed for that item, I will call them & ask for a courtesy removal.
     
  16. lawyerdad

    lawyerdad Senior member

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    Good luck. If you don't know the song "I Hate Banks" from the album Frenzy by Mojo Nixon & Skid Roper, I highly recommend it.
    The whole album in fact, even if some of the lyrics from "Burning Down The Malls" are now a bit dated.
     
  17. mrchapel

    mrchapel Senior member

    Messages:
    679
    Joined:
    Jun 19, 2006
    Location:
    Southern California
    Stories like this remind me why I don't do business with certain banks such as Bofa or Wells Fargo.
    They're basically thieves.
    They're not there to help you, just help themselves[​IMG]
    I dropped both those banks ages ago like a hot potato.
    [​IMG]


    In most cases, I'd agree about theivery with banks. However, it's important to remember that banks are a business, and business by it's very nature is not designed to help people.

    To the OP, how about STOP spending more money so as to stop racking up overdraft fees? I hope you keep a budget. How on earth did you withdraw money knowing your balance was low? If you knew your balances were low, you had no business purchasing anything you couldn't readily cover. It's just common financial sense. I hope things work out! Overdrafts are a bitch, but be glad they are there to cover you when these things occur, and considering the service, I'd say overdraft fees are worth it rather than having all of those debts bounce and make things MUCH worse and MUCH more expensive for you. Next time keep a better watch on what you spend!
     
  18. satorstyle

    satorstyle Senior member

    Messages:
    689
    Joined:
    Jun 16, 2007
    Location:
    Maryland
    In most cases, I'd agree about theivery with banks. However, it's important to remember that banks are a business, and business by it's very nature is not designed to help people.

    To the OP, how about STOP spending more money so as to stop racking up overdraft fees? I hope you keep a budget. How on earth did you withdraw money knowing your balance was low? If you knew your balances were low, you had no business purchasing anything you couldn't readily cover. It's just common financial sense. I hope things work out! Overdrafts are a bitch, but be glad they are there to cover you when these things occur, and considering the service, I'd say overdraft fees are worth it rather than having all of those debts bounce and make things MUCH worse and MUCH more expensive for you. Next time keep a better watch on what you spend!


    I'm glad you said it, you must type faster than me. My father (a retired CPA) would laugh at things people accumulate, he always said stuff is nice, but if you want to impress me show me your liquidity. Thank God there is a lesson in everything.
     
  19. crazyquik

    crazyquik Senior member

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    Capital of Southern Elitism
    Contest the fees if they hit you with one.

    If they don't waive it, close your account and go somewhere else. There is a bank on every corner.

    El Banco de America won't care, we let in over 5,000 new customers a day for them.
     
  20. bigbris1

    bigbris1 Senior member

    Messages:
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    Joined:
    Feb 3, 2007
    Location:
    Opulence
    I have several accounts with several institutions which I use for various purposes. I do not use charge accounts (credit cards) so anything I spend is as good as cash.

    Now, this happens to be my 'petty cash' account, if you will. I use it for small purchases, i.e. gas, McDonald's, etc. I know exactly how much I have in there at all times. I have set up a reoccurring electronic transfer to this account which keeps it funded.

    I do, however use this account to cash checks, like from ebay purchases & such. My concern was that the bank has a weird posting procedure where they rearrange items on your account from day to day. I can go online & check the balance & view activity right now, then go back later & everything will look very different.

    To give an example, the day I posted this, at 6PM I had a balance of $5.91, at 9PM there were 4 items atop the account in red, the same 4 items listed elsewhere on the account earlier that day. Then when the electronic deposit hit (around 1AM) the items were shifted again, being shown as deducted from the electronic deposit which appeared to have happened before the charges. Making sense now?

    In all, I got a $35 OD charge which I will live with, it could have been $140.
     

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