Bank of America are thieves!

[miaheatlvr]

My friend owed me $100, so he stopped by my office today and dropped off a check from BOA for $100.. Excellent because im usually the guy who has to bring up the, "Hey dont you owe me some money?" To which I usually get a bewildered face telling me "oh yeah, I do owe you some money, dont I" hahaha.. Well anyway on my way walking to sub way for my $5 footlong There is a BOA located conveniently on the corner of my block.. I walk in and say to myself GREAT NO line! The cute young lady says "can I help you" I say "yes you can, I would like to cash a check" she says "do you have an account with us" and I say curiously "no i dont" then she says "well since you DONT have an account with us it will be $6 to cash the check and if I would like to proceed with the transaction" I tell her "WHAT? $6, that is ridiculous and preposterous, gimme my fricken check back" What is this world coming to? There is no way im going to give BOA $6 for cashing a check in my name on a debt owed to me.. Thats lunch today.. So I walk a little more to citibank and deposit it into my account via ATM... BULL DOOGIE!

 

[stdreb27]

They ALL do that. I walked into Citibank the other day with a check issued by Citibank. And asked to cash it. They asked if I had an account, then informed me that there would be some sort of fee, 4 or 5 bucks. So I started arguing saying this is your check! You shouldn't charge me to cash your check. Went all the way to the store manager, then called corporate. To complain (because they were particularly rude about it) It is dumb.

 

[el guapo]

Man the biggest thieves in the world are banks .
I forget which bank it is . But for an NSF they charge 35 dollars and then 5 dollars a day until the account goes back to a positive balance . Thats per check . So If you have 2 NSF's and its a week till payday . that 35x2+5x2x7 for a total of 140 bucks just in bank fees .

 

[darthtang aw]

Originally Posted by EL GUAPO
http:///forum/post/3071619
Man the biggest thieves in the world are banks .
I forget which bank it is . But for an NSF they charge 35 dollars and then 5 dollars a day until the account goes back to a positive balance . Thats per check . So If you have 2 NSF's and its a week till payday . that 35x2+5x2x7 for a total of 140 bucks just in bank fees .
Compassbank did something like this.

 

[miaheatlvr]

Originally Posted by EL GUAPO
http:///forum/post/3071619
Man the biggest thieves in the world are banks .
I forget which bank it is . But for an NSF they charge 35 dollars and then 5 dollars a day until the account goes back to a positive balance . Thats per check . So If you have 2 NSF's and its a week till payday . that 35x2+5x2x7 for a total of 140 bucks just in bank fees .
Guap... Im feelin you bro.. I was 1 day late paying one of my credit cards and then they hit me with a late payment! $39 and a Over the limit fee of $39 + finance charges... This was like twice the minimum payment I sent in!!!

 

[el guapo]

Originally Posted by Darthtang AW
http:///forum/post/3071633
Compassbank did something like this.
Thats the bank I am thinking of .
Originally Posted by MiaHeatLvr
http:///forum/post/3071635
Guap... Im feelin you bro.. I was 1 day late paying one of my credit cards and then they hit me with a late payment! $39 and a Over the limit fee of $39 + finance charges... This was like twice the minimum payment I sent in!!!
Oh man I have night terrors about that kinda thing .
Yo make your 100 dollar payment a day late so they charge you 39 bucks which puts you over limit and then you get an over the limit fee which makes you now 50 over the limit , Then they add finance charges and you next bill comes and your already 80 over the limit , You make your 100 payment thinking your good to go and bam finance charges put you back over the limit . AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH

 

[scsinet]

The thing I hate is the practice of running the largest checks in a particular batch by order of amount.
Banks say they do this to "maximize the chances that the most important checks will go through as the largest checks are usually ones like mortage." BS. Banks do it to jack up the NSF fees.
Example: You have $1440 in your account, and you write 5 checks:
Wal-Mart: $50
Cable Company: $50
Power Company: $100
Car Payment: $500
Small visit to LFS: $1400
The bank receives all of these checks on the same day, in that order. But rather than process the checks in order, where the last check would bounce and result in a $35 NSF fee, the bank reorders them in order of amount, largest first, resulting in 4 NSF fees, as only the first check will clear, hitting you for $140. I've even heard of banks holding a couple days worth and running them all at once. I've never had this happen to me, and if you are good with your money then NSF fees shouldn't be a problem anyway, but even still... seems pretty crappy to me.

 

[aquaknight]

At least with BOA you have the chance of getting some NSF charges refunded. Roommate got 5 NSF charges knocked down to 2 once, and 3 down to 1, after some pleading.
Not a chance with Suntrust. A trip to the movies turned into costing me $85 after two charges, and I OD'ed one month, of course since they stack the debits from largest (rent) to smallest, I had 4 charges that didn't clear. Nothing like owning the bank $190 dollars, $165 of which are NSF charges.
SCSI, that's sort of happened to me. Suntrust has back dated a check, so that the check went through, BEFORE AN ATM CASH WITHDRAWL. How in the world that's possible I don't know, since atm withdrawl (from a Suntrust ATM) is supposed to be instantly debited from your account.....

 

[el guapo]

Originally Posted by SCSInet
http:///forum/post/3071656
The thing I hate is the practice of running the largest checks in a particular batch by order of amount.
Banks say they do this to "maximize the chances that the most important checks will go through as the largest checks are usually ones like mortage." BS. Banks do it to jack up the NSF fees.
Example: You have $1440 in your account, and you write 5 checks:
Wal-Mart: $50
Cable Company: $50
Power Company: $100
Car Payment: $500
Small visit to LFS: $1400
The bank receives all of these checks on the same day, in that order. But rather than process the checks in order, where the last check would bounce and result in a $35 NSF fee, the bank reorders them in order of amount, largest first, resulting in 4 NSF fees, as only the first check will clear, hitting you for $140. I've even heard of banks holding a couple days worth and running them all at once. I've never had this happen to me, and if you are good with your money then NSF fees shouldn't be a problem anyway, but even still... seems pretty crappy to me.

Wells fargo has done this to me more than I can count

 

[reefraff]

Banks also run debits before credits so if you write a check for 10.00 and you only have 9.00 left in the account but you deposited 10,000.00 the same day the check goes through the second the bank opens and they will still bounce your check.

 

[gypsana]

These are the reasons why I bank with USAA. You can scan checks at home and they refund up to $15 a month on ATM fees. I do not pull cash out a lot so this works out great for me.

 

[uneverno]

It tends to vary by both bank and circumstance.
I've been a BofA customer for 15 some years, and their practice w/ me, at least, is to put the largest transaction first in line regardless of the transaction's chronological order or whether it's a debit or credit. E.g., if I debit my account for $40 at 10:00 am, and make a deposit of $50 at 2:00pm, the deposit precedes the withdrawal on my balance sheet.
It does pay to know your banks rules though, because they are mostly ridiculous and very much aligned in their favor. BofA has an automatic policy of extending you (overdraft) credit for a fee of 18-35 per transaction as a "courtesy" unless you tell them explicitly not to.
They don't anymore, but BofA also used to have a policy of extending a maximum of $100 cash on a deposit until it was verified. They meant "cash" literally. I.e. I could withdraw the Jackson's from the ATM but, I could not use my debit card to "charge" the same amount without incurring a fee.
Thank goodness we're bailing them out though. Those practices definitely need to be continued...

 

[spiderwoman]

I've been with BofA for a long time and have never had any problems with them.
If you were a Wachovia customer, you'd be cursing really hard. They are running 2 different system, one for the inhouse banking and another for ATM's (2 because they are using system they received from buying another bank for ATM). Friend of mine's son had deposited a check for $xx at the bank before 2pm which is their cutoff time. He went to the ATM machine which stated that he had $xx available for withdrawal. He proceeds to place an order online for soccer equipment and ends up getting a NSF charge for that and a few other small purchases he did that evening. Wachovia ended up reversing all but one of those after his dad raised hell at his branch. Now that's sucky.
If you don't have an account at the bank where you go to cash a check, they will charge a fee for it, just like if you went to a check cashing facilities. Unfortunately.

 

[fanker]

i hate BOA i had a $250 overdraft fee cause i got chargd twice and i never used my card except to put money into savings, they wanted al the money and i said i didnt do it and there was money in my savings. i switched to a local credit union...best thing ever now if i overdraft they take out of my savings and put it into my checking auto and never pay anything!!!

 

[jackri]

Credit card companies have also been known for holding your payment a few days before entering to make you late.
I currently have 0 credit cards with anyone and will never have one again. They are a bunch of vultures yet some how go bankrupt.. get bailed out.. and still stick it to the consumer (which most of the time are dumb enough to get in trouble but still..) and still want to make more money off of them. I think they are blood sucking leeches and have no room in my wallet for them.
As far as banks... they know exactly how to make an extra buck -- that's their business. My bank refunds all atm withdrawals and I get a dime each time I use my debit card... it's their "better than free checking" as if there is such a thing.

 

[deejeff442]

i cash alot of checks customers write in my name.
i pay thefee knowing i dont have to put it in my business account and have the biggest thieves take 40% --the government.
since wells fargo bought wachovia they have down the crapper.
so a month ago i opened a business account at my credit union ,so far so good.
i have gotten at least 10 bounced checks with wachovia when i look at the statement it says nsf due to hold on deposit then i look at my deposit ticket and it has no hold says deposit same day.
they also started charging $20 a month for my account maintanance ,it was free when i signed up and they never sent me anything about the fee.
everyone really needs to go to credit unions and small banks if they really want fair service.

 

[jennythebugg]

Originally Posted by EL GUAPO
http:///forum/post/3071662
Wells fargo has done this to me more than I can count
ditto