BofA just had to kick down!!

[speeder]

I haven't been this happy since my last "Becky", (new word learned on PPOT this week).

I put some $$$ in the bank today at the teller. She handed me the receipt for the deposit and I took a quick look at it as I walked away. I thought that I knew to the penny how much was in that account, (not much), and the receipt reflected about $150 more than I thought after the deposit.

Well, I just got home and checked my online statement. There was a strange item from yesterday, entitled "Chking Acct Overdraft Settlement Credit".

Bank of America finally got sued a couple years ago for their unfair overdraft policies, basically they arranged your electronic debits on a given day from largest to smallest regardless of the order they actually went through. (I think they all went through simultaneously, but they were arranged as such on statement). This of course was to trip the overdraft charges on people w/o much $$ in the bank. Their phone reps had a BS rap that they were trained to give you when you complained and the bank made untold millions off their customers with this software.

I got a letter a while back, as did every customer, telling of a class-action settlement. I guess yesterday was judgement day. The dollar amount is insignificant, ( I racked up more in overdraft fees on a bad day before they changed the policy), but it's satisfying. They also had to stop charging NSF fees on paid debit card purchases even if it made the account go negative. They can still charge them for some things but it's very limited.

I've run hundreds of 1000s through that account and I'm a terrible balance keeper, so I deserved some of those old fees but it really got excessive at times. Anyways, made my day.

[RWebb]

it is good when govt. works

[RedBaron]

I stick to my local bank / credit union just so I don't have to deal with that BS. I'm surprised more people don't do the same thing.

[widgeon13]

Originally Posted by RWebb

it is good when govt. works

What did the govt. do?

"The legal action sprang out of complaints like one filed by Ralph Tornes, a Florida man who sued Bank of America for charging him about $500 in overdraft fees, after the bank was suspected of rearranging the order in which it processed his purchases."

[RWebb]

the court system is a govt. funtion

[widgeon13]

yes, but at least it's supposed to be unbiased.

[Rick Lee]

Originally Posted by RedBaron

I stick to my local bank / credit union just so I don't have to deal with that BS. I'm surprised more people don't do the same thing.

+100

I go into BofA every month to pay my mortgage in person because they bought the servicing. They always ask why I'm paying with a check from a credit union and don't join BofA. I try to be nice to them, but they couldn't pay me to put up with their BS fees. My wife banks with them, but raises hell with them regularly and they always cave and waive every fee. I don't have that problem with my CU. No fees ever, great loan rates and share branches everywhere.

[bell]

Wow.....did you have to do anything for that?
I was hit with the exact charges of the op......this was a few years back obviously.....
I want my check.......lol

[BlueSkyJaunte]

Who the hell is stupid enough to ever have to pay an overdraft fee? Does nobody balance their goddamn checkbook anymore?

[nynor]

Originally Posted by RWebb

it is good when govt. works

i am sure you meant litigation.

[Rick Lee]

Originally Posted by BlueSkyJaunte

Who the hell is stupid enough to ever have to pay an overdraft fee? Does nobody balance their goddamn checkbook anymore?

My wife bounced a check for $3k to me and it would have caused me to bounce a check, but I have overdraft protection. There's no fee at all for dipping into that. They charge interest like a credit card between the transaction date and when you pay. But it's a lot cheaper than a cash advance and can be less than a dime if you find out and transfer funds from another account. Unfortunately, my bank doesn't alert me when overdraft kicks in, so I have been surprised before after some interest racked up. But I just paid it all off and there were no fees.

[speeder]

Originally Posted by BlueSkyJaunte

Who the hell is stupid enough to ever have to pay an overdraft fee? Does nobody balance their goddamn checkbook anymore?

Take your meds, bro...it's gonna be alright.

[Por_sha911]

Originally Posted by speeder

take your meds, bro...it's gonna be alright.

+1

[speeder]

Originally Posted by Rick Lee

+100

I go into BofA every month to pay my mortgage in person because they bought the servicing. They always ask why I'm paying with a check from a credit union and don't join BofA. I try to be nice to them, but they couldn't pay me to put up with their BS fees. My wife banks with them, but raises hell with them regularly and they always cave and waive every fee. I don't have that problem with my CU. No fees ever, great loan rates and share branches everywhere.

CUs are great. I need to work again in my union so that I can join their CU, it's a really good one. I'm not a dues paying member anymore, so I don't think I can use it. I'll have to check.

BofA has been alright to me over the years other than those ridiculous overdraft fees. My branch manager used to just erase most of them for me until corporate BofA clamped down and changed their ability to do that for customers at the branch level. I am lazy and careless about watching my balance, I'll admit it. It comes from having a family bank in Minnesota, where I grew up. NSF fees were non-existent and I could write any check whether the $$ was in my account or not and it got paid. A bit spoiled in that regard.

[nota]

and IF our nut - con's beloved tort reform had gone in to law

class actions like this would be banned

[Tobra]

I had nothing but trouble from B of A, banked with them because they had a drop box halfway to the corner, very convenient. Best day was when I closed that account. Quit writing checks on that account, went in and got a cashier's check. They had just turned me down on a line of credit and had put a hold on funds for an excessive period of time after a check I had given them cleared.

[Schrup]

They hosed me about 15 years ago for no other reason than they could. They acquired my mortgage a couple years ago & I promptly refied. They are scumbag predators & I will no longer do business with them. My CU got bought, so I moved all my banking to USAA, they handle everything now.

[mossguy]

Denis, why are you still with Bank of America?

[McLovin]

Originally Posted by widgeon13

What did the govt. do?

The govt built the roads that speeder used to get to BofA.

[RWebb]

The govt provides the legal system that the litigants used to get to BofA