Fvck Bank of America

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WiseOldDude

Senior member
Feb 13, 2005
702
0
0
you need to use cash, no more cash in pocket, no more spendy, simple and foolproof with no overdraft fees.

PS You swiped your card for $1.69 gator-aid?
 
KoolAidKid

KoolAidKid

Golden Member
Apr 29, 2002
1,932
0
76
My biggest pet peeve with B of A is this: say you have $100 in your account. You then write one check for $100 and ten checks for $1. Say all 11 checks are posted to your account on the same day. B of A will cash the $100 check and charge you fees for the other 10 checks. Of course, if they were truly customer service oriented they would pay the 10 checks for $1 each and bounce the single $100 check.

It's clear that B of A is not at all concerned about their small banking customers. They blatently take advantage of them at every opportunity. Of course, B of A is not obligated to look out for us just as we are not obligated to use their services. Moral of the story: switch banks.
 
kranky

kranky

Elite Member
Oct 9, 1999
21,019
156
106
Originally posted by: KoolAidKid
My biggest pet peeve with B of A is this: say you have $100 in your account. You then write one check for $100 and ten checks for $1. Say all 11 checks are posted to your account on the same day. B of A will cash the $100 check and charge you fees for the other 10 checks. Of course, if they were truly customer service oriented they would pay the 10 checks for $1 each and bounce the single $100 check.
Click to expand...

Banks defend this practice by saying they believe most customers want the larger checks processed first, as those are likely to be more important (mortgage, rent, car payment, insurance, etc.) and the consequences of a late payment are more severe.
 
KoolAidKid

KoolAidKid

Golden Member
Apr 29, 2002
1,932
0
76
Originally posted by: kranky
Originally posted by: KoolAidKid
My biggest pet peeve with B of A is this: say you have $100 in your account. You then write one check for $100 and ten checks for $1. Say all 11 checks are posted to your account on the same day. B of A will cash the $100 check and charge you fees for the other 10 checks. Of course, if they were truly customer service oriented they would pay the 10 checks for $1 each and bounce the single $100 check.
Click to expand...

Banks defend this practice by saying they believe most customers want the larger checks processed first, as those are likely to be more important (mortgage, rent, car payment, insurance, etc.) and the consequences of a late payment are more severe.
Click to expand...


I am aware of that explanation. However, I doubt that this was the reason that drove them to implement the policy.
 
Q

qaa541

Senior member
Jun 25, 2004
397
0
0
Use credit cards!
Debit/Check cards are the devil!

Just pay off your cards monthly, and you have all the convenience of a debit/check card without the fear of overdrafting fees. Plus credit cards balances are updated nightly.
 
CPA

CPA

Elite Member
Nov 19, 2001
30,322
4
0
keep a current reconcilation of your account and you won't have to worry about it.

you know the old saying: If you want it done right, you have to do it yourself.
 
D

davew0670

Golden Member
Apr 24, 2003
1,132
0
71
Originally posted by: KoolAidKid
Originally posted by: kranky
Originally posted by: KoolAidKid
My biggest pet peeve with B of A is this: say you have $100 in your account. You then write one check for $100 and ten checks for $1. Say all 11 checks are posted to your account on the same day. B of A will cash the $100 check and charge you fees for the other 10 checks. Of course, if they were truly customer service oriented they would pay the 10 checks for $1 each and bounce the single $100 check.
Click to expand...

Banks defend this practice by saying they believe most customers want the larger checks processed first, as those are likely to be more important (mortgage, rent, car payment, insurance, etc.) and the consequences of a late payment are more severe.
Click to expand...


I am aware of that explanation. However, I doubt that this was the reason that drove them to implement the policy.
Click to expand...




supposedly, bofa did a customer survey asking this very question about which should be posted first, larger or smaller transactions. The customer wanted larger since these things tend to be payments like morgtages, automobiles, and credit card payments. Things that could affect your credit if you bounced a check.
 
Legendary

Legendary

Diamond Member
Jan 22, 2002
7,019
1
0
Originally posted by: RossMAN
Originally posted by: davew0670
the easiest solution to this is to NOT use your debit card as a credit card whenever possible.
Click to expand...

Thank you.

and CitiBank pays 5% back on gas purchases :)
Click to expand...

QFT. I have two non-ATM transactions each month on my checking account - one to each CC. Works like a charm.
 
G

GrouchyLadybug

Member
Dec 1, 2003
145
0
0
Originally posted by: CRXican
who honestly still writes checks and balances check books?

silly old folks
Click to expand...
Uh, I do, and I'm not old! :p (I'm 23.) Bills like apartment rent, car loan, and the electric bill HAVE to be paid by check. And of course I balance my checkbook, and keep up with every single transaction. Like someone else already said, you CANNOT trust the bank to do your work for you.

And no one in this thread has mentioned Microsoft Money! It makes keeping up with your funds SO easy, there's no excuse not to do it. What I don't understand is why people still balance checkbooks by hand. ;)

 
T

tomt4535

Golden Member
Jan 4, 2004
1,758
0
76
oh no, i just signed up for an account yesterday. i hope i dont have problems like this :Q
 
J

Jmman

Diamond Member
Dec 17, 1999
5,302
0
76
Wells Fargo does the exact same thing. If you pay for something with a debit card, they immediately take that money from your account and place a pending charge in your transaction history. After a couple of days, that pending transaction gees away and usually within a day or so the hard charge comes through. What is nice about this is that if you use your debit card and then cancel the order or something, you have that money back in your account within a couple of days. Most credit cards won't release that money for 7-10 days....
 
D

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Originally posted by: Doboji
I just figured out their overdraft schemes.

The way their online banking system works.

1. You make a transaction using your VISA check card
2. If you check your account on the day of the transaction, the transaction shows up as "pending". Your account is debited the amount of the transaction.
3. 24 hours later, all records of the transaction is removed from your account records, and your account is credited the amount of the transaction.
4. Now your account is showing an incorrect balance.
5. 3 days later, the transaction reapears on your account and your account is again debited the transaction amount.

This makes overdrafting incredibly easy. In my case I have 3 accounts I operate from, 2 checking, and 1 savings. The VISA check card is linked to my discretionary spending account.

Sample scenario.

starting balance $80
Day 1.
I go to mcdonalds and spend $6.00
Get gas for $35
Pizzahut for $15

Day 2.
Movie for $8.50
Bought a Gatorade at 7-11 for $1.69

Account shows Balance: 13.81

I dont spend anything for a couple of days.

I need to get gas on Day 4 I check my balance. My balance shows $24 I'm confused now, because I know I spent money. So I'm scratching my head oh crap what hasn't shown up? Ahhh the movie I went to. that was 8.50.... so I really have $15.50

Ok I'm gonna leave a cusion so I spend 14.00 on gas.

The NEXT day... I check my account and I'm overdrawn -33.19... now I'm pissed...

Why the FVCK does the transactions dissapear completely so as to make banking as hard as possible? What is the point of online banking if it does this? Other banks like Wachovia I have confirmed do NOT do this. It's a fvcking scam pure and simple. And the sad part is, it's completely legal and they can get away with it.

ARGH

-Max
Topic Title: Fvck Bank of America
Topic Summary: Schemin bastards
Click to expand...

Correction - Bank of India
 
Freejack2

Freejack2

Diamond Member
Dec 31, 2000
7,751
8
91
All banks are like that. Never let your account get that low. Ideally always try to leave yourself at least a $100 cushion.
 
M

mzkhadir

Diamond Member
Mar 6, 2003
9,509
1
76
quote:

--------------------------------------------------------------------------------
Originally posted by: mzkhadir

quote:

--------------------------------------------------------------------------------
Originally posted by: elektrolokomotive

quote:

--------------------------------------------------------------------------------
Originally posted by: Merlyn3D
BofA is the worst bank, switch to WaMu, they're the best!
--------------------------------------------------------------------------------



Please do! Job security for me!

--------------------------------------------------------------------------------



Which location do you work at ?
--------------------------------------------------------------------------------



Corporate HQ.



I am in VH.
 
A

Anonemous

Diamond Member
May 19, 2003
7,361
1
71
Originally posted by: GrouchyLadybug
Originally posted by: CRXican
who honestly still writes checks and balances check books?

silly old folks
Click to expand...
Uh, I do, and I'm not old! :p (I'm 23.) Bills like apartment rent, car loan, and the electric bill HAVE to be paid by check. And of course I balance my checkbook, and keep up with every single transaction. Like someone else already said, you CANNOT trust the bank to do your work for you.

And no one in this thread has mentioned Microsoft Money! It makes keeping up with your funds SO easy, there's no excuse not to do it. What I don't understand is why people still balance checkbooks by hand. ;)
Click to expand...

E-bills for all. :D

 
M

mchammer187

Diamond Member
Nov 26, 2000
9,114
0
76
1 bank account

1 active credit card

i dont see why anyone would need more than this if they can manage their money


i also have another credit card but don't use it anymore because it has a crap interest rate but that is my oldest one with the highest limit just too keep a long credit history
 
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