Do you believe that Bank of America is cheating you with crazy over draft fees ?

Question

O.K. Bank of America has given me over draft fees that I don't understand and I think what their doing is somewhat sneaky and I truly believe that they are getting rich off of people with their fees.

Answer 1

1) When people overdraw their account, it's not usually the bank's fault.

#2) If you don't understand the fees, go down to your local branch. Be pleasant. That will increase the chance that they may waive a fee.

Answer 2

Everbank was voted best online bank. Had same problem as you so switched.  

Answer 3

I can understand about service fees and maintenance fees, especially after a merger or buyout. You might not know about them. They seem unreasonable being you are putting your money in and getting those fees.

However overdraft fees may be costly, but I see nothing wrong with them. You spent more money than you had. The bank is charging you. Lesson: Do Not Spend Money You Do Not Have!

I think I remember a time when people actually kept track of what they bought.  

Answer 4

Then stop over drafting your account & you will pay no fee's.

YOU caused those fee's not them,  they charge those high fee's so that people will learn from the penalty.  Maybe they should charge you extra.

Answer 5

I agree that the fees are harder to understand now that bank of america changed its process. before pending transactions didnt really matter and all you had to worry about is getting money in the bank before th trans posts. Typically referred to as "floating funds". Obviously this was easy to do if ur short on ur money.. lets say u wanna get gas on a wed but ur direct deposit doesnt hit until friday. as of march of 08, it changed to where you can no longer do this. rather a running balance of all posted trans, pending trans and auth are all looked at, and at midninght - during processing if any of them OD the acct, u will be assessed od fees. Call, ask, stay calm and listen. They are there for you for a reason.

Start a register. it helps!

Answer 6

I am so sick of seeing people bash (insert bank) because they got hit with overdraft fees.  It is your responsibility to keep track of your bank balance and not to write checks or use your debit card if you don't have the funds in your account.  If you can't manage to update a check register, then get overdraft protection.

Most people don't have NSF problems.  Why should we pick up all the administrative costs of processing your overdraft transactions?  

Answer 7

It's true that fees are getting outrageous, but if you play your cards right, you shouldn't have to pay a penny.