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When does Bank of America direct deposit show?

Bank of America Overdraft fees - HELP?!?.?

  • Hey guys... I have done some research and found that many people nationally have been screwed, alike me, by bank of america. However, I didn't find anything regarding how to resolve such an issue. Basically, what happened is, I went to the beach, surfed, bought a few drinks on the way back, stopped at mcdonalds, and refueled vehicle. This amounted to 12 seperate purchases. Unfortunately, BoA's online banking doesn't report the amount of money "you have", but rather, the amount before the "late posting charges" - which they claim is a vendors fault for not pulling the funds. So, Saturday morning, my account read $60. Very next it read the same amount. Then on Monday, it read -$23, So I went and deposited $50 to cover it, and anything else. BUT... because it was TWELVE seperate charges, all of which took 3 days to show up on the account, that "posted", in their "late" manor, I have 12 seperate $35 dollar fees applied. They turned -$20 into -$520. And I am fully aware that I "should have" been logging my purchases, rather than checking online. Im a college student, and a surfer. So yea, I assumed the online statement was accurate. Apparently not. I have tried telling them I don't get paid until 2 weeks from now, and that I am willing to pay the excessive amounts, but cannot until then; they told me to call their "overdraft assistance department". This department told me to wait 20 days before they will have my "account details" - and thus are unable to help me until then; despite the fact that she pulled my account up via my account #. I was also informed that for each of the upcoming 5 days, they will continue to attach an additional $35 fee, for not paying the balance out. So... I am in a loophole now, getting raped front ways and side ways and... back ways... Im just screwed man. Does anyone have any ideas on how I can get out of this situation? They have already claimed an entire paycheck beore I can get it. I cancelled direct deposit, so that they cannot take my money. I was curious if closing the checking-account (since theres also savings and credit), would allow me to simply tell them "send me a bill! "? Would that work? If not, does someone like me ahve any options? I don't want my credit destroyed by them because they caught me in a loophole...

  • Answer:

    If you wait too long to pay them off, they may "charge off" your account and report you to ChexSystems. Most banks check to see if you have a record with ChexSystems before they will open an account. Cairo w had a good idea about opening an another account now. I recommend opening a prepaid debit account too. Use the local checking account for checks to be cashed and set up your direct deposit to the prepaid debit card. The prepaid Visa account I have has free bill pay and never has overdraft charges. There are a lot companies that offer prepaid debit cards. Look at my profile if you want to know more about the card I use. In the long run, I believe Bank of America will meet you at least half way on the charges.

jake at Yahoo! Answers Visit the source

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Open a new account somewhere and pay them back as much as you can. Same sort of thing happened to me...when I finished paying my overdraft fees I closed the account and left. That's when they wanted to talk about refunding my money.

Cairo w

The bank will not close your account while you have a negative balance. You did the right thing by stopping your direct deposit though, that will allow you to pay them and still feed yourself. I would go and sit down with the branch manager of the branch that you bank at. When you go in person and sit in front of the bank officer, that carries a lot more weight than calling on an 800 line. If you have multiple accounts, tell them that you will move your business elsewhere if they don't help you. Start looking for a smaller bank or credit union. These people are more likely to work with customers in these types of situations. Finally, start managing your finances better. Keeping track of your balance will avoid this situation.

ki4kxq

There is a very simple way to avoid these problems: quit using debit cards for minor purchases. Cash is king.

rotflol

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