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WTF: Bank Of America

Originally posted by: tfinch2
What are these fees you speak of? BofA has never charged me any fees in the 5 years I've been with them.
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ACH is a way to do wireless transfers. They have always been free in the past. I initiated one sending money from Ameritrade to BoA and I got charged a fee, albeit small. But still, it's a fee that I am not happy aobut as I transfer money monthly.
 
Originally posted by: mugs
Originally posted by: User1001
wth is an ACH
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Don't know what it stands for, but it's when you use your account number and routing number to pay for something online, like a credit card bill. (at least that's one example)
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For the purposes of this conversation, that pretty much sums it up. Use the post prior to this for what I used it for.
 
Anyway, that's pretty ghetto to have a fee for that... most banks do not. Time to change banks I guess.
 
I've made at least 5 ACH transfers over the past several days, and I have not been charged a fee for a single one. This is with a BoA account.
 
Originally posted by: BigJ
I've made at least 5 ACH transfers over the past several days, and I have not been charged a fee for a single one. This is with a BoA account.
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Hrmm, maybe I'll haev to wait a few days. Once in a while i get wierd fees at Ameritrade where my account gets credited back immediately. AMybe the payback is elayed or sum'n.
 
There's something I dont understand about ACH. The deposits that can be made through the use of your account number and the routing number on your check, for example when you have your tax refund automatically deposited make sense, but paying for something with it I don't get. It seems like it is very insecure to be able to pay someone with just an account and routing number because if someone ever writes you a check you have those numbers, they are also on bank statements and there is no expiration date involved either.
 
Originally posted by: IHateMyJob2004
Originally posted by: andylawcc
was the transfer international?
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nope:

Ameritrade->BoA
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well, i did that before too and there was no fees. actually, I did a direct transfer from BOA to Ameritrade (and etrade too; the transaction was instant, whereas it took 2 days for Ameritrade, but that's another story)
 
Originally posted by: mchammer
There's something I dont understand about ACH. The deposits that can be made through the use of your account number and the routing number on your check, for example when you have your tax refund automatically deposited make sense, but paying for something with it I don't get. It seems like it is very insecure to be able to pay someone with just an account and routing number because if someone ever writes you a check you have those numbers, they are also on bank statements and there is no expiration date involved either.
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I've always wondered the same thing...
 
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