THE TIM

Dirty Banks

Let me tell you a story about how banks, especially Bank Of America tends to rip people off and make themselves tons of money!!  Recently, I had 4 overdraft fees from my bank.  Yes I know, irresponible and silly, however I forgot to transfer some money from one account to the other so that’s what happened.  I called BOA and told them that it was mishap and clearly they could see that I transfered money to the account as soon as I realized this mistake.  Well, they didn’t really care and told me that they would be happy to “as a courtesy” credit my account $12.50.  Well they took out $140!  I calmly told the guy that I had been a customer for 8 years, and maybe on one other occasion had overdrafted, and to kindly refund those fees.  He then had the nerve to tell me, “Sir have you ever thought about keeping a check register and recording your transactions so that this doesn’t happen again”  That sent me through the roof.  I ended up cussing the guy out, which was wrong but he asked for, and told him that I didn’t call for a lesson in finance and that he needed to refund the cash!  Well he didn’t, except the $12.50.  After talking with a co-worker, who had a similiar experience, I found out something very interesting about BOA.  Lets say you have $160.00 in your account.  You go the convience store and buy a pack of gum and a drink, $3.56 for the transaction.  Later that day you stop and eat lunch for $12.00 with a tip.  On your way home you are thirsty so you grab a smoothie, $3.50.  One last stop, thats for gas $32.00, cause you were on empty.  At 6:30pm that evening you remember you have a bill due that was day in the amount of $160.00.  So you get online and pay your bill.  Well as you know, there was only a $160.00 in your account to begin with, minus all those previous purchases.  Now most people would think…….Ok Tim, in this hypothetical situation, you should have only been charged one overdraft fee, for the last transaction……..NOT THE CASE.  All transactions that go to pending, or show as pending in your account, BOA will move the highest amount to the top, and process those first.  That way, they can hit you with 4 overdrafts for the smaller transactions throughout the day.  Seriously that is what they do, told to me by a BOA employee.  HOW IS THAT ETHICAL?  Shouldn’t your bank be able to process things in real time?  It is so backwards for a bank to do that……………and they all need bailout money???