Complaint / review text:
Since May 14,2009, my checking account was charged $315 in overdraft fees. I understand that the first time I over drafted and was charged $70.00 in fees, it was my fault and I left it alone. The second time between 6/8/09 and 6/10/09, I checked and re-checked the balance before making transactions over the weekend. Apparently, deposits that I had set up to be made via PayPal took several days to post (I find this amusing as well having made many PayPal deposits to my Bank of America accounts in the past, it normally wouldn’t take 3-5 days for them to post; its like they are posting the deposits at their leisure to ensure that they can take advantage of someone) and other transactions that I saw online as pending" with available funds in my account on their automated phone system apparently were not correct amounts (this information was given to me by several representatives that I should use the online account information or the automated phone system as tools to prevent over drafting my account; but when I question why I keep showing available funds as well as "pending" not "posted" transactions, I was then told by their reps that the information I see online or hear over their automated system is not correct so I can't rely on it).
Once I found the account to be overdrawn on 6/9, I immediately deposited $60 before the pending transactions posted (which based on my receipt from the deposit showed that I had $7.29 available). When I came back to check my account online the next day, 6/10, I saw my $60 deposit has been eaten up by fees (as well as an additional deposit that posted for $80.42) and I again am showing a negative balance. At this point, I have no more cash to deposit and wait until the following morning for my paycheck to post before I called their customer service line and spoke to a representative named Tim who was kind enough to attempt to refund 1-2 of those fees, but felt I may have better luck speaking with someone higher than him to have them all waived after I explained my situation. I then spoke to a Team Leader named Tracy and a Supervisor named Derek, who advised me that the policy to waive fees changed since speaking with Tim. Nothing at all could be removed (So my question was, is the offer to remove fees based on personal preference?). I have deposited a total of $1,394.65 in my account within the past 4 days to make sure I had all "pending" transactions covered and I am still racking up overdraft fees as of yesterday, 6/10/09. I had according to Bank of America a total of 6 items posted, which were "pending" according to their website/automated phone system. They charged me six fees a day after I made a deposit to bring it positive, for the six pending (not yet at that time posted transactions). Then 2 days later, an additional $35 fee was added.
So from 6/9, when these transactions were pending (according to Bank of America posted because they claim they were pending 6/8 to 6/10, a total of 2 days), another fee was added. Why? According to the pop-up link on the fee, their system says: “Please note: If your account has a negative balance for 5 consecutive business days, you will receive an additional one-time Extended Overdrawn Balance Charge of $35 on the sixth day.” So why was I charged another fee? The system claims it is from overdraft item on 6/9. I had a $5.45 transaction that at the time was pending. When the $60 deposit was made on 6/9, I had $7.26 in available funds (I have the ATM receipt to show this). I find it funny how the layout of the transactions keeps changing on their website. Like they post stuff in any order, but then refer you back to their website to check your balance and avoid going over. They say one thing; check the website as a tool to help with the account. Then they say you can’t rely on that information (even though the charges are "pending" and showing having already been deducted from the balance). So, do they want us to use their "tools" or not, because they refer us to the website and the automated phone system for balance information, then they say not to rely on that information because it isn’t accurate.