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Post by rapidfire187 on Jul 22, 2011 10:38:22 GMT -5
So a lot of people (including myself) were robbed of a lot of money by Bank of America via overdraft fees. They were posting same-day transactions in order of most expensive to least expensive. For example. I had $10 in my account one day but thought I had more. I made a few small purchases that would have brought my balance down to $2. Then my mom called and asked me to pick some things up for her, so I ended up spending another $10 which effectively put me in the red. I should have had a negative balance of $8 plus the $35 NSF charge. Instead, they deducted the $10 purchase first, and charged me $35 for each small purchase I had made earlier. I ended up owing the bank over $100. That wasn't an isolated incident either. It happened to me another time and happened to my mom a few times. Anyway, we got a postcard in the mail today explaining that Bank of America is being sued and if a settlement is made that we'll receive money or an account credit. Neither of us have a BOA account anymore though. So has anybody else been ripped off like that? You can go to www.bofaoverdraftsettlement.com/ to read about it.
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The Line
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Post by The Line on Jul 22, 2011 10:43:08 GMT -5
ooh, I should go check my mail. BOA has boned me so many times with overdraft fees. Once I get my BOA CC paid off in full, I think I'm switching banks. BOA was the only chain bank in my old hometown, so my choices were limited(and my mom was a member of that branch since it was still called SeaFirst, before the buyout).
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Dr. T is an alien
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Post by Dr. T is an alien on Jul 22, 2011 10:54:26 GMT -5
Banks do that all the time. The excuse given is that if they process the larger ones first the odds that someone's rent check or electric bill bouncing is reduced if it were to be the first thing processed. I got bitten that way several times in the past as well. I now bank at the credit union owned by my alma mater. They process things as they appear in their system, no matter what the order is. The downside is that accidentally going over when you shop for groceries and depositing some cash immediately after will not keep the grocery bill from bouncing (I have overdraft protection so it still gets paid, but the $30 fee still sucks).
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Feyrhausen
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Post by Feyrhausen on Jul 22, 2011 17:08:01 GMT -5
Banks cannot do this anymore, its part of the credit protection act enacted a year or so ago.
I recommend Capital One. Several times I have made a mistake and a payment would come out of my account and overdraw it. I noticed in the morning before the bank opened so I got some cash and deposited in the atm before the bank opened. And they waived the overdraft charge.
Chase however will find anyway to screw you over. They overdrew my account by taking a check I had written over a year and a half before. And the rep on the phone told me there was no expiration on my personal checks despite their policy saying it was 90 days. I closed my accounts with them, and earlier this year paid off my mortgage early with them. And their automated system still withdrew payments for two months after the mortgage was paid off. And the checks they tried to send me as a refund were less than the payments, because of "processing charges". I had my lawyer call them and they refunded the full amounts. Chase is evil. Avoid them at all costs.
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Post by Ronny Rayguns Is All Elite on Jul 22, 2011 18:12:32 GMT -5
This reminds me of something I posted last year, but if PNC bank were an actual person I would have whipped his ass give time s over
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