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Bank Of America - Beware
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  (#1)
Horn replaced by throttle
 
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Join Date: August 24, 2007
Location: Fairfax
Wink Bank Of America - Beware - September 17, 2008, 03:36 PM

Financial Education Lesson:
For those who have overdrawn your account before (I know most of us have), you can prevent getting slammed by more the one overdraft fee.

When you first sign up for a checking account w/ B of A, a "feature" is automatically added called "courtesy overdraft protection" which allows you to overdraw your account up too $100, slamming you with $35 overdraft fees each time. This can be removed or opt out of, but its difficult.

Call the Bank of America customer service, be very specific with them, and tell them you want your courtesy overdraft matrix set to zero. If you don't use this specific terminology then they will deny it even exist. They're technically not even allowed to tell you about it b/c this is how B of A makes all their money by charging fees. Trust me, I had to make 3 separate calls to finally get someone to admit to me that this feature exist. Do this and if your account hits negative your debit card will automatically decline saving you tons.

Just thought I share.
http://articles.moneycentral.msn.com...on.aspx?page=2
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Elite Racing
 
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September 17, 2008, 03:42 PM

Good post Joe. Glad I'm not a BofA customer.


Chris
Elite Racing
CCS AM #458

Godspeed Bam Bam

VFR Matt: gotta be a winner at something. Cant reach for the stars mind well be king of suck
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  (#3)
PewPew
 
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Join Date: April 29, 2006
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September 17, 2008, 04:11 PM

Oh don't even get me going about Bank of America. lmfao

I opened a BoA account online back in march, got my check card and activated it. Went to use it and it was declined. Wtf? So I call in and they say "Sir, you're not a customer of Bank of America." Well that's funny considering I just activated one of your cards. So they find my money in limbo without an account, after a month of fighting they finally put my money in a new account and get me a new card. Everything is fine right? No....

I decided to leave BoA since they can't even open up a damn checking account, close my account and think it's done. IN may I get a statement for an account number that was NEVER MINE. But it's in my name, with my address, and some weird BS transaction and refund on it. Then the account was charge a 5 dollar fee. I called and they said that account doesn't exist, must be a glitch have a good day.

Well 6 months of receiving statements for this "non-existent" account collecting 5 dollar fees and fighting with their telephone customer support I say to hell with this. BoA is threatening to take me to collections for an account I never owned and they say doesn't exist? Yeah no f'in way.

I go to the bank, they refuse to give me written documents stating the situation... ok. But finally in the end they "found the account in our DOS system which we don't use anymore" what???

Yeah 6 months of dealing with every department Bank of America has really spread some light to how good their company is..... not


R.I.P. Eric "TheIrishGuy"

"Will you carry me down the aisle that final day
With your tears and cold hands shaking from the weight
When you lower me down beneath that sky of gray
Let the rain fall down and wash away your pain"


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  (#4)
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September 17, 2008, 04:22 PM

been a BoA customer for the last 8 years. never have had any issues, and one time one of my checks didn't clear in time, and I had bills that were paid, so I did get bunch of 35 dollar or 45 dollar over draft fees. I called and they took them off without ANY hassle.

:thumbup: for BoA


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I tow 747s


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September 17, 2008, 06:47 PM

That's not how BoA's overdraft protection works.

That's the default - no protection. Even then they allow the first couple overdrafts, and are quick to refund you the $35+ if you've been good with them for awhile and this is some odd event. I had a situation where I paid all my bills (including my massive truck note) and then my wife went and did the same thing... then we went on xmas vacation. Yeah, every dime we spent on vacation was an overdraft. I had some $400 or so in fees when I got back. Called up, explained the situation and they refunded the whole bit and signed us up for overdraft protection which I thought I'd never need since we always have a bunch of money in the account.

BoA overdraft protection is basically just an auto-transfer to a BoA credit card and its free.

Overall I give them a - there are some annoyances, but they are what I expected them to be. Great online banking with lots of ATMs everywhere you go (in and out of state).

Oh yeah, and they are freakin' AWESOME when it comes to fraud protection. Very pro-active and quick to bring it to your attention. Someone got ahold of my visa number and bought tons of junk - they called me about it since it was occuring in a place out of my usual purchase area, they killed the card, took off the charges, and sent me a new card ASAP.


"No race has ever been won in the first corner, but plenty have been lost there."

Last edited by DvlsAdvc8; September 17, 2008 at 06:51 PM..
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  (#6)
2 wheels for life
 
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September 17, 2008, 06:49 PM

Quote:
Originally Posted by pauliodotnet
been a BoA customer for the last 8 years. never have had any issues, and one time one of my checks didn't clear in time, and I had bills that were paid, so I did get bunch of 35 dollar or 45 dollar over draft fees. I called and they took them off without ANY hassle.

for BoA
+1 .. never had a problem ..


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Groundhogs can play dead
 
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September 17, 2008, 06:57 PM

I started with Sovran Bank, then went to NationsBank, then ended up with Bank of America. I think some of their fees are retarded but I'm too lazy to change. I've memorized my account number and when I call, they're very helpful.


Tanya
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It is what it is!
 
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September 17, 2008, 07:16 PM

Use our local Chevy Chae Bank...good people, good service!


2007 Triumph Daytona 675
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Serial Killer
 
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September 17, 2008, 07:59 PM

Ahhhh...the joys of being a member of a credit union; no BS fees, and I get my ATM fees refunded on the 1st of every month


I'm a lead farmer, motherfucker!!
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Lets Ride!!!
 
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September 17, 2008, 08:19 PM

Quote:
Originally Posted by Diggy
Ahhhh...the joys of being a member of a credit union; no BS fees, and I get my ATM fees refunded on the 1st of every month
Which credit union are you at?? Mine charges 35 dollar fees and there is no ATM refund of any sort. I have synergy one BTW.


Go Hokies!!!

2007 GSXR 750 Black/Midnight Blue - sold
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September 17, 2008, 10:17 PM

I mainly bank with USAA which has great online banking, super rates and they refund all my charges from using any other banks ATM since they don't have any of their own.

I also have a small checking account with BOA for the convenience of depositing checks. I never have more than a few grand in it at a time but the convenience of an actually brick and mortar bank almost anywhere in the U.S. makes it worth it for me. I've never had a problem.


Stupidity is an elemental force, and I respect that. ATGATT
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Don't ask me,I'm Canadian
 
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September 17, 2008, 10:18 PM

Been a while since I overdrafted,but I know if I do,the money is pulled from my savings account.I use BoA.Do you have a savings account?


ALL MY HEROES ARE RUSSIAN...GO CAPS!

Well you see, Norm, itís like thisÖA herd of buffalo can only move as fast as the slowest buffalo. And when the herd is hunted, it is the slowest and weakest ones at the back that are killed first. This natural selection is good for the herd as a whole, because the general speed and health of the whole group keeps improving by the regular killing of the weakest members. In much the same way, the human brain can only operate as fast as the slowest brain cells. Now, as we know, excessive intake of alcohol kills brain cells. But naturally, it attacks the slowest and weakest brain cells first. In this way, regular consumption of beer eliminates the weaker brain cells, making the brain a faster and more efficient machine. And that, Norm, is why you always feel smarter after a few beers.-Cliff Claven

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September 17, 2008, 10:49 PM

or you could carry cash


"I am officially retired so please don't ban me"
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September 18, 2008, 10:07 AM

Fack Banks...I give all of my $$$ and business to Navy Federal Credit Union and Pentagon Federal Credit Union.



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September 18, 2008, 10:10 AM

I keep all my money between my mattresses.

I wish . It would have been a better investment then the last year has been!


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