Comments on: Bank of America Ends Some Overdraft Fees http://www.consumerismcommentary.com/bank-of-america-ends-some-overdraft-fees/ A premier personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sun, 12 Feb 2012 20:01:44 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: SavingEverything http://www.consumerismcommentary.com/bank-of-america-ends-some-overdraft-fees/comment-page-1/#comment-204599 SavingEverything Thu, 11 Mar 2010 01:59:11 +0000 http://www.consumerismcommentary.com/?p=8494#comment-204599 Glad to see one big bank is doing this. I remember a while back, banks used to always decline me if i charged over my balance, or, when I went to an ATM for $20 when all I had left was just under $8. It's about time they go back to the basics. How will Bank of America gain or recoup these lost revenue fees? How many other banks will follow suit? Is this just marketing ploy for the Bank of America? I thought starting July 1, 2010 for new accounts opened then and after, or August 15, 2010 for existing accounts, that consumers must opt-in to allow bank's standard overdraft services to apply for everyday debit card and ATM transactions. If consumer doesnt opt-in, and they do not have enough money to cover a debit card or ATM transaction, then it will get denied and no overdraft fees!?! Glad to see one big bank is doing this. I remember a while back, banks used to always decline me if i charged over my balance, or, when I went to an ATM for $20 when all I had left was just under $8. It’s about time they go back to the basics. How will Bank of America gain or recoup these lost revenue fees? How many other banks will follow suit? Is this just marketing ploy for the Bank of America? I thought starting July 1, 2010 for new accounts opened then and after, or August 15, 2010 for existing accounts, that consumers must opt-in to allow bank’s standard overdraft services to apply for everyday debit card and ATM transactions. If consumer doesnt opt-in, and they do not have enough money to cover a debit card or ATM transaction, then it will get denied and no overdraft fees!?!

]]> By: Evan http://www.consumerismcommentary.com/bank-of-america-ends-some-overdraft-fees/comment-page-1/#comment-204581 Evan Wed, 10 Mar 2010 16:12:38 +0000 http://www.consumerismcommentary.com/?p=8494#comment-204581 ING does something cool where it lets you go into negative territory up to -$150 but when you do you get an email and they charge you I think a 7 or 8% interest but NO Fees. ING does something cool where it lets you go into negative territory up to -$150 but when you do you get an email and they charge you I think a 7 or 8% interest but NO Fees.

]]> By: Smithee http://www.consumerismcommentary.com/bank-of-america-ends-some-overdraft-fees/comment-page-1/#comment-204576 Smithee Wed, 10 Mar 2010 13:33:44 +0000 http://www.consumerismcommentary.com/?p=8494#comment-204576 I worked for Bank of America customer service in Seattle (after they acquired SeaFirst Bank), and by far we got the most calls about overdraft charges. Unfortunately, the system was set up at the time not to allow linking a savings account to help with overdrafts of any kind. They only allowed the credit card option. Hopefully they're fixing that nationwide, too. I worked for Bank of America customer service in Seattle (after they acquired SeaFirst Bank), and by far we got the most calls about overdraft charges. Unfortunately, the system was set up at the time not to allow linking a savings account to help with overdrafts of any kind. They only allowed the credit card option.

Hopefully they’re fixing that nationwide, too.

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