THAT'S IT, I'M DONE WITH BOFA

[tk149]

Originally posted by: CTrain
I think I get what he meant.

Lets say if you have $50 in the account and 2 checks came in the same day, a $60 and a $20.
If they let the $20 go through first, then the $60, you would get only 1 bounced check.
But if they let the $60 go first, then the $20, you would get 2 bounced checks.
See how evil they can be ???

Don't forget that the bank can charge you an overdraft fee for EACH item. Therefore, if you bounced one check, you'd get one overdraft fee. But if you bounced two checks, you would get charged twice. And yes, some banks do this deliberately to generate fee income derived from customers' stupidity in not knowing their balances.

 

[RossMAN]

Originally posted by: tk149

Originally posted by: CTrain
I think I get what he meant.

Lets say if you have $50 in the account and 2 checks came in the same day, a $60 and a $20.
If they let the $20 go through first, then the $60, you would get only 1 bounced check.
But if they let the $60 go first, then the $20, you would get 2 bounced checks.
See how evil they can be ???

Don't forget that the bank can charge you an overdraft fee for EACH item. Therefore, if you bounced one check, you'd get one overdraft fee. But if you bounced two checks, you would get charged twice. And yes, some banks do this deliberately to generate fee income derived from customers' stupidity in not knowing their balances.

and the merchant usually hits you with $25 per overdraft as well.

This is why it's a good idea to link your checking account with OVER DRAFT protection to your savings account, line of credit or credit card.