How to get Bank of America to refund Overdraft Fees?

Question

I have a Bank of America account. The balance on my checkin as of August was $514.90

That same day, I used my debit card to pay for 6 different things in different places. I checked my acct that night, and all the transactions were "pending", but already reflected on my online statement leaving me with a balance of a little over $300.

On Agust 25th, my car company charged my car payment to my acct. The car payment is more than the $300 I had available, and it overdrew my account. I understand that was my fault, and I would have no problem paying thei $35 fee for that.

The problem is, they decided to post the car payment (og Aug 25th) before all the other transactions I did on Aug 22, and are charging me $35 for each one of those.

I don't think it's fair because when I spent that money the money was in the account. The only thing that overdrew my acct was the car payment, but I tried to talk to someone at the bank and they said it doesn't matter. It only matters when they posted it.

Is there anything I can do. I understand and agree with paying the fee I owe, but I don't think I should pay $35 for each transaction done on the 22nd when I checked my acct that day, saw the money available, and even saw them discount it from my acct still leaving me with a positive balance.

What can I do?

Answer 1

Technically they are right, it is the date the transactions post that counts, not when you spent the money.  Because August 22 was a Friday, those transactions are not likely to post until Monday, August 25.  The car payment was probably in queue before Friday's merchant transactions arrived.  So technically, the bank is correct in charging you for each overdraft that occurs.

I suggest you go to the branch where you opened up your account, and ask to speak to the manager.  Sit down with him/her and explain your situation.  Don't say "it isn't fair", just let the manager know that you made a mistake, and that you cannot afford to pay all of those $35 fees.  Tell him/her that you fully understand the first $35 charge, and have no problem paying for your mistake....but you would like to be credited for the rest of the fees.

If they do not refund you, as is their right, close your account and go to another bank.  From a customer service standpoint, the manger should agree to refund all but one over-draft fee.

Good Luck!