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Bank of America Settles Overdraft Fee Lawsuit

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If you qualify for the Bank of America overdraft lawsuit settlement, you may have already received a postcard in the mail from the bank. Here is information on the overdraft lawsuit, only one of many class action lawsuits against Bank of America. If you recently received a check from Bank of America for about $98, you have received a benefit from an earlier class action lawsuit pertaining to the bank’s debit cards. This article pertains to a later lawsuit regarding overdraft fees.

November 21, 2012 update: Former Bank of America customers are reporting receiving postcard checks. All checks will be sent by November 30, 2012, so some former customers may receive theirs in December. Current customers are receiving their refunds as account credits, as described below.

November 2, 2012 update: The appeals filed after the judgment of settlement was announced have now been resolved. Bank of America customers who were part of the settlement class — those who initially received a postcard informing these customers of their involvement — should receive an account credit or a check to their last known address by November 30, 2012. The amount each customer might receive depends on how many overdraft fees were charted during the period outlined in the class-action lawsuit, but as expected each customer will receive only a fraction of what Bank of America charged in these fees.

Some customers have already reported receiving credits in their Bank of America accounts.

Here’s how the amount is calculated, somewhat simplified. Bank of America re-ordered the debits that caused overdraft fees during a certain time period beginning in 2001 and determined each customer’s amount of over-charged overdraft fees. That amount was reduced by any uncollected amount (if an account was closed with a negative balance). If one customer had $100 in adjusted overcharged fees and Bank of America was determined to have $10,000,000 in overcharged fees total, that customer’s share is 0.001%.

If the total settlement available for class members (total settlement minus lawyers’ fees, expenses, etc.) was $1,000,000, the customer would receive 0.001% of that, or $10.

September 2012 update: It’s been nine months since an appeal to the judge’s decision has been filed, and there is still no resolution. The $410 million awarded to the settlement class is still in dispute.

December 2011 update: While the judge has approved Bank of America’s settlement related to the overdraft class action lawsuit and has ordered Bank of America to pay $410 million, a member of the settlement class who objected to the settlement has filed a notice to appeal the ruling. With an appeal filed, it could take at least a year for the issue to be resolved. If the appeal is denied, customers may still be disappointed. With 13.2 million affected customers in the class and fees to be paid from the settlement fund to the lawyers and class representatives, the benefits each customer will receive are sure to be less than the value of a refund of even one overdraft fee.

Any compensation to affected customers is on hold until the judge enters the settlement and any appeals are filed.

Like many banking institutions, Bank of America processes debit transactions not at the time they occur, but in a batch, from largest to smallest. If they don’t still take this approach currently, they did in 2009 when a class-action lawsuit combined several other legal actions. 24 other banks in the United States and Canada were named in the class-action lawsuit, including Citigroup, Chase, and Wells Fargo.

The banks say that by ordering debits from largest to smallest benefits customers. For example, mortgage or rent payments are generally the largest debits, so they should receive priority and should be the first to be paid. This is not how it works in practice, however. The system is designed to make more money in fees, particularly from the paycheck-to-paycheck class of customers.

For example, five debits may be scheduled to post on a Monday:

  • $800 mortgage payment (check)
  • $200 purchase at the grocery store (debit card)
  • $100 withdrawal at a different bank’s ATM
  • $25 purchase at the book store
  • $4 coffee

That’s the order the funds will be taken from this person’s account. If there is $900 in the bank account, the mortgage payment will be processed, but the four other transactions will generate overdraft fees, one for each, likely totaling more than $100. If the debits were processed from smallest to largest, only the mortgage payment would cause a problem, and the check will bounce. This could cost the account owner less money, but a bounced mortgage payment could be troublesome.

In the more likely event that there is only $500 in this checking account, ordering debits from largest to smallest ensures nothing will go through without generating a fee. However, ordering the debits from smallest to largest, only the mortgage payment would bounce, and there would be no overdraft.

Bank of America will be paying $410 million to settle the class-action lawsuit, which also notes that the banks did not tell customers they could waive overdraft protection, allowing certain transactions to fail rather than paying a fee. Not every bank handles activity posting the same way.

The deadline to opt out of or object to the settlement was October 3. The official website for the settlement is bofaoverdraftsettlement.com.

Photo: Wonderlane
Reuters

Updated November 21, 2012 and originally published July 12, 2011. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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Luke Landes is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about Luke Landes and follow him on Twitter. View all articles by .

{ 1416 comments… read them below or add one }

avatar Jessica

I’m still confused on why you all think we’re only getting a fee back. It says in the paperwork that we would be getting a MINIMUM of 9% of the fees back….can somebody please explain to me why they think, or know, otherwise??

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avatar sandy11

I read the same thing,9% or .45 on a dollar.If you go out on your own or form a group,you still need a lawyer.how much is his take,or will you owe him.I’m cutting my loses,closing after it done.

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avatar Jessica

@sandy11 9% for me is a lot considering since opening my account in 2008 I’ve lost about $10k. No, that’s not a typo. That is in fact how much I’ve paid to BOA for NSF fees and returned check fees!!! I’m sick to my stomach over it!!! As I stated in my previos post I finally caught up after last years $6k loss. I’m still unemployed with 2 kids of course. And yes, BOA is still rearranging the debts. I paid $300 in fees this year to date because of the rearranging again. I just don’t understand how they can have a debit be “pending” for 6 days?!?!?!

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avatar oneof99%

I’m sorry to hear of your plight. Hopefully something will open up for you soon — job-wise to help you & your family.
Yes, as far as being charged for those “pending” transactions….that’s what needs to be changed and what’s worth fighting about. I believe that might be the way back to court….

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avatar Jessica

I’m in!!!

avatar ned

well put oneof99% we all need to hope it will get back in court before the appeals are over and then it will effect this case also. nThey haven’t changed a darn thing as the order of transactions is still arranged in order from largest to smallest so they can nail us for more fees then the LAW would if the judge would just throw the lawyers out of the case and make BofA accountable for every $$ they stole from us. We’d strill be at a loss of many hours trying to figure out how we screwede up so bad, Even though it wasn’t us at all it was BofA stealing from us.

I’m willing to bet that the higher percentage of us are on or were on Unemployment. BofA knows we can’t afford a lawyer when we are trying to live on 33% of what we were making before they screwed up the economy by giving out loans to everyone knowing they would get $$ for a while and then forclose when the time was right. They just didn’t do the math and foreclosed on too many at once. (example)So we are a country with 15 billion making enough to buy a house and 25 billion empty homes up for sale.

avatar ned

9% isn’t .45 of a $1 you need to go back and study harder in Math. 9% is .09 of $1

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avatar MICHAEL EMMONS

I WAS IN A VICIOUS CIRCLE OF OVERDRAFT FEES THAT REALLY MESSED ME UP FINANCIALLY I WAS LIVING CHECK TO CHECK AND BECAUSE I WAS COMING UP NEGATIVE 400+ DOLLARS EVERY CHECK DUE TO THEIR STUPID OVERDRAFT FEE SYSTEM IT WAS REALLY TOUGH TO PULL MYSELF OUT OF DEBT I EASILY HAD ABOUT 3,000 DOLLARS IN OVERDRAFTS AND IT WOULD BE NICE TO SEE THAT COME BACK TO ME SOMEHOW I FIGURE WITH THE SETTLEMENT AND ALL I SHOULD GET MAYBE 300 DOLLARS WHICH I DONT REALLY THINK IS FAIR.

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avatar rosie

you are not getting $300..you are getting approx $31!!! do the math again…less than the price of 1 overdraft total

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avatar sandy11

27.00 on 300.00,has alot to do with what they took.

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avatar Edward

You won’t see $31 I have no idea where people have been getting that # it will be close to $11 after the lawyers take what they worked (not ) so hard for.

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avatar Edward

here is more info to chew on.

It’s $4.5 billion that’s gone missing from people’s accounts,” Himmelstein said.

Hutt said only 46 customers filed formal objections to the settlement and 350 decided to opt out, meaning they could take separate legal action on their own.

“It’s very easy for people to say on the sidelines, `I could do better,’” Hutt said. “Never is a settlement at 100 percent of what somebody thinks they can receive at trial. It’s always a compromise.”

Customers will receive a minimum of 9 percent of the fees they paid through the settlement, Hutt added. The bank has already paid the money into an escrow account.

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avatar Edward

9% comes to $3.15 per $35 fee they paid so for my fees I paid that add up to almost $1000 I should see roughly $76.95. WOW I’m rich. See you all in Hawaii. LOL this is a joke on us. Lawyers make out with $136,666,666 if there are 100 people involved with the lawyers that comes to $1,366,666 each Only in America can the rich take from the poor and keep it legally

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avatar sandy11

Jessica,sorry to hear about your losses.I’m disabled,they took us for about 8000.00.LAWYERS ARE A JOKE!!!!! So is bank of AMERICA.Should be bank of Greed.I have another bank.Just waiting for this whole thing to settle,then good-bye.GET ANOTHER BANK. Just leave 1.00 in your account till this is done.Five years of hell,use a small bank or credit union.At least they know who you are when you walk in.

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avatar scottA

Brilliant idea to leave ONLY $1 in your account, but I threatened to do so because of a charge for NOT USING my debit card, that they refuse to refund me. It costs a customer $14 a month with BofA to NOT USE your debit card in a single month. I told them I would just leave 1 penny in my account and keep it open, and they very rudely pointed out that I would still be held accountable for that $14 service charge if I didnt use my card. Talk about BULL SHIT!!! I have been trying to get myself under control before going in to tell them to F*** off, because that is how pissed I am with the whole situation. That would have been $5 a transaction to use my debit card, OR $14 month to not use my debit card? Who can afford to have their money in the bank at these costs?

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avatar Matt Smith

It would have been $5 a month not per transaction…

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avatar JOSEPH

U
R SO RIGHT,HEY ED THEY BEEN STICKING IT TO ME ALL MY LIFE ,(THE RICH) N A BLACK MAN WORLD C-MON MAN TAKE IT ON THE CHIN JUST GET ANOTHER BANK ,RIGHT SANDY11

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avatar Edward

here is a pdf about how a class action suit works for those whom are curious.

http://www.bofaoverdraftsettlement.com/Portals/0/Documents/Notice.pdf

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avatar sandy11

you are so right Joseph

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avatar rosie

so after all this, and the over 2000$ they got from me, all I am going to get is approx $31????? How can that even have been settled under that amount??? $413 mill divided by almost 14 mill people is paltry compared to the 100 times more they made from us…how can this settlement have been reached this way?????????? One of the respondents figured he was getting approx $300…I wish…there is no way, and that is before attorney fees…how could this have happened?

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avatar Ro

OK I am/have been pissed for a while now…what are we going to do?? Sue the lawyers? File an appeal?? We’ve got to do something!!

Here is my email: rosinanadiagrignetti@yahoo.com

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avatar korey

Greed is all i see around me these days. The rich control all and the people who move the counyrt forward get fucked! if we all take are money out we can break them!

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avatar Teresa

i agree with all the comments i closed my account out years ago cause the kept overdrafting me and i have tried several they dont want to reemberce you anything i think thats how they get their Christmas funs,, i feel that we should get back most of it but as they said that will never happen.. so alls we can hope for is this and maybe all banks will be made to change their ways

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avatar Athena

Even THIS won’t cause BoA any heart palpitations.. the amount of the fine levied on them amounted to about 10% of the total amount they swiped in fees.. seems like a good business to be in don’t it?!!

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avatar JoAnn Sereal

I agree with Teresa, I closed my account and went to another bank because of Bank of America’s negligence with my account. Everytime I turned around they were taking money from my account which ended up with over $300 in overdrafts fees. They were taking money that was not there and messing bill paying status whereas I was late with a lot of my payments. They not only robbed me they put my credit ratings very low. I am waiting patiently for an answer on when we receive our money from the lawsuit. I can really use the money to take care of the mess the bank put me through when all of the overdraft fees were collected and messed up my credit rating.

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avatar Jenn

I am a boa customer. I haven’t been happy with them for a long time, and I know all about the overdraft fees!! My husband and I live check to check with 4 kids and only one income, because I haven’t had any luck finding a job since we moved back home and he was medically discharged out of the army. It’s been a nightmare. Here is my problem though… I have tried to get another bank, but unfortunetly my husband and I started with our kids at a very young age and made some bad decisions, so we don’t have very good credit. Our credit is getting better at a very slow rate, but right now I can’t get a bank around to open us an account… so we are kind of stuck with boa. Any suggestions anyone?

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avatar rosie

my roommate puts his direct deposit onto a visa card created for just that…he can use any atm without fees and still use his card for stores when he pays rent he draws money out then gets money order

I use b of a, but have the online only account since I never have to go inside a bank, and I use bill pay for everything

I switched back after regulations, I was with Chase, but chase allows overdrafts up to $500 even if you dont have any money in there,,I overdrafted $500 and owe $800 because of it
B of A wont let me overdraft now, I am thankful for that cuz even in temptation, it cant happen

also, if you are having direct deposit you can use the my access account, where you can use the inside of the bank with no fees…sounds like it is just the matter of using the right account…they weren’t good at directing me which is best…as far as overdrafting, I like the visa card setup the best
it has nothing to do with credit since it amounts to a prepaid visa card..but it is a good place to have your paycheck go

as far as suing someone for the really really bad settlement that only BofA and the lawyers benefited from, I don’t see any recourse other than getting some newspapers to get involved and have them report on it as an outcry…or one of the Occupy movements..who haven’t been in good graces lately

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avatar Fonty

Have you tried Navy Federal Credit Union? I am the single mother of five and I understand the credit issue. You are eligible for NFCU because your husband was in the Army. I went to them after BofA ticked me off. I love them. Even if your not close to a branch, you can have money direct deposited and withdraw from an ATM (no fee). Worth a shot

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avatar Andy

So has anyone yet received there credit to there account or a check in the mail…if so was there any explanation on what % it was and how much was the total ..and how much was it ..thanks

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avatar Mae

Hi Andy, I haven’t received anything yet. I would be getting the auto credit due to the fact I’m still with BOA. Hopefully their is no appeal out there to be settled because we will not be getting anything until all appeals are settled and taken care of. This seems lilke it could take a while if appeals are out there. I read this information last week plus the i-800# is saying the same thing about appeals being taken care of first. Let me know if you heard anything different.

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avatar rosie

you are only getting approx $30 bucks divide 13.8 million in to the 410 million….duhhhhh and don’t forget attorney fees, I think they are getting more than our $30 bucks it was one very very bad settlement,,, who the hell cares about refund of one overdraft when they made 100 times that

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avatar Shannon

Low and behold I recieved my check yesterday not a credit because I still have an account with them a check it was a whopping 98.00 to probably 2 to3k I spent in fees. It was address to me in my madian name and my account is a joint account with my husband I did close one due to fraud and reopened a new one so I was wondering if its on each account you had or by the person.

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avatar rosie

The online only account is completely accurate and up to date..its the same one everyone uses, the same web page, its the services you get that change it to web only use your head, if y ou can see it online its up to date more than the old fashioned way, and 0only thing that changes actual online is outstanding checks..which I never have since I do bill pay online

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avatar debbi

Hey there. I am also a former bofa customer that paid about 8 grand in o/d fees. You can go to the class action website and read the lawsuit. I have been really worried about the compsensation as well, but if you check out the lawsuit it does seem that they are attempting to determine a fair method for computing actual o/d’s that would qualify for this lawsuit. NOT ALL od fees you ever paid are going to come back. Only the o/d’s where if they re-ordered the debit card transctions (ONLY), from lowest to highest, and you end up with less od charges than they charged you, that is what would qualify under the terms of the lawsuit.

Then they are going to take everyones total from oct, 2003 until now, and go day by day on everyones account to get their positive differential overdraft payment amount, and divide that by the full amount left in the settlememnt fund to arrive at a percentage. Then they adjust your positive differential overdraft payment amount based on that percentage. Hope this helps someone.

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avatar debbi

Oh and yes there is currently an appeal pending in California. So we wont be seeing that in time for xmas.

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avatar rob

i have well into the 15,000 DOLLAR range in overdraft fees. i have been reading several articles stating we would be getting a minium of 9 percent back in a refund. so i dont see if there is enough money to pay this percentage with these numbers 410 mill and 13.2 million clients. the settlement should be in upwards of 1200 million to make things right, i better be getting more than 31 dollars as a credit i will be pissed and fight back. this country is going to hell and i am ready to move to another country as usa is so corupt truth and guilt dont exist just all foul play. everyone needs to stand up for whats right and quit letting judges make mistake after mistake after mistake etc.

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avatar Jim

These class actions are put together in such a way that ensure those solicited by the attorney’s
get a great deal and the attorneys also but, those who lost the majority of money are “fucked”
BOA and the attorney’s are both profiting at the cost of the working man.

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avatar alyce

In my opinion, time is wasted by the Courts (Judges), if Class Action law suites only benefits the Lawyers. So, the Lawyers prove that numerous people have been wronged by the Banks and only the Lawyers profited. If the figure of 31 dollars is considered reasonable for approximately 13.2 mill people, if my calculations are correct the Lawyers would get approx. 30% of the 410 mill which is approx 123 mill. Was it 12.3 mill Lawyers working on the case? I don’t think so. So again unless the people that were wronged be compensated then the Lawyers went to Court for themselves not the NUMEROUS WRONGED PEOPLE.

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avatar scottA

BofA is a great bank. Great strategy. The fact that they were going too begin charging that $5 per transaction fee to use your debit card, and already charge a $14 fee to NOT USE your debit card would have made them billions.

I have been complaining for years about BofA charging overdrafts in order of lowest to largest amounts. Lot of good that did. Not sure how much money I will have coming back to me, but when you try dealing with customer service, the response is “Tough sh**” If you are not a high dollar customer, they dont want to deal with you, the customer.

Bye bye BofA. I will be seeing you very soon, and very rudely be telling you off.

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avatar Raul

Dont worry you all will get your money soon the lawyers are working on it so just relax. once the lawyers and the judge det their money then you will get your money.

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avatar patrick.s

hay . iam at school just shooting some info they got me and i was haveing money problems ,for mor then $700.00 and some $300.00 at a time a gota go but keep intouch with me and stay smart spend less cash and count more.. one love

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avatar patrick.s

Hay , iam patrick i got a lot to share my account could have overdrawn alot more then they say but, i got seven, and three hundred dollars in overdraft fee’s what kind of help can i get.

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avatar Tara Lofton

i repeatedly asked customer serv reps why would you hold all the small debits and wait for a large debit to come up and draft it through so there is no money left to pay anything else, especially when the small debits were accrued first???!!! response…were helping you pay your mortgage!!! but now i owe $130 in fees in one day…bullshit…wish i had went through with my threats of lawsuit!!!

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avatar Jessica

@Tara- I actually went into a branch and asked the manager the same thing. And that was the sane response I got. I asked why it took them FIVE days to post a debit and they tried saying that that is when they received the info. Bull…that’s what it all is! Of course they wouldn’t refund me a penny of it. Not even one fee!

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avatar Teresa

yes i was told the same thing about its not a accurate way of keeping track

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avatar Teresa

I had an account with them and some cks came in on it and caused an over draft i tried to stop the cks and they came through 4 times.. so i closed that account and oppened another account thinking that it had to stop… well guess what it did not they were aloud two more over drafts per ck that i had to pay before i could close it out. it took me 3 weeks to get it closed out and they took the money from my new account. causeing me more over drafts

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avatar Edward

I forgot about a situation that happened back in 08 or 09 I believe where B of A allowed someone I don’t know who it was, but they kept trying to take money from my account and they would charge $300 then $200 then $100 and finally $50 every day for weeks. I didn’t have any money in the account. when I saw the first attempt I went into my local branch and told them I didn’t know who it was and asked them to put a stop to this. They told me they couldn’t do anything and said the person had my account info so it was my fault. I think somehow they copied my number when I used my debit card somewhere. I got pissed and they threatened to call the police saying I made threats to them ( I only ever threatened to close my account. and told them it was bull poop they couldn’t stop this?) Which they said I could close it if I covered all the overdraft fees. to cover the fees at the end of the month as the person attacking my account had finally given up trying to get my money. B of A took $750 out of my fathers personnal account, Dad’s name is on my account because I didn’t have good or bad credit and I wasn’t able to open my own account. ( I had no money because I had been layed off a couple months before that.) needless to say the person never got a thing but B of A got $750 from My Dad’s account and he’s retired living on a fixed income and that killed his vacation savings. I wonder if the lawyers involved in this wilol throw all of us a party to celebrate them getting groteskly rich at our expense.

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avatar Ken Arnold

An organized revolt needs to be started, all BoA customers must close the accounts with BoA by a set date in the future.

Open an account with another Bank now and everyone needs to transfer out of BoA by lets say, June of 2012.

Who’s in for this??? Pick another month??
Credit Unions seem to be the best option since they are “not for profit” like Banks are.

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avatar Ro

I am in but I don’t see anyone else…

My email: rosinanadiagrignetti@yahoo.com

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avatar Paula

Did it. Went with Liberty Bank of CT. They are a godsend. 0.2 percent interest on my savings account (they have tiered interest rates). Could never get crap for interest from Bank of America. My balance kept going up but my interest payments always stayed the same or went down. How’s that work? Anyway, thanks, BoA for refunding the $14 account maintenance fee so I could get the f out of there. Good riddance.

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avatar gail

My husband and I thought we were doing great with keeping all our bills and banking in check. Wasnt long before things started going wrong. We ended up having almost 4000.00 in overdraft charges. We closed our account after paying all but 250.00 of the o/d charges. Repeatedly my husband spoke to the bank staff. Basically they told us to piss off. After that we closed it and they put the 250.00 in collections. Honestly, i have no idea how we survived through all of that having 3 kids to care for. All i can say is Praise God, we managed. I never really expected to get anything back from all this so i guess i should be grateful, but there are so many ppl who got screwed. FN banks are crooks.

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avatar Matt again

Why is everyone shocked by the lawyers taking a third? I wish they didn’t and there was more money for all of us. But if you have ever been part of a lawsuit the one third rule for a win is pretty standard. No one wants to pay up front lawyers outrageous hourly fees, so the deal is always IF we win they get a third.

Again, I don’t like it, less money for us, but I am surprised and the amount of people outraged by this.

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avatar Paula

I agree. Especially the ones who think they can do better, but didn’t exclude themselves from the suit, and are now complaining.

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avatar Zachary F

So I guess there was an appeal filed and none of us will see our beer money for 1-2 years haha what a joke. Hopefully the appeal gets us more money but i’d rather get my 50 cents now then wait a year and get a dollar.

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avatar Ken Arnold

They settled out of court and that’s “binding”… The only people who could really file an Appeal is our Lawyers for more money OR the Judge ordered more of an offer.

Maybe they read this board and see that we are pissed at what’s going on!!

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avatar Zachary F

On November 29, 2011, a Settlement Class Member and one of the objectors to the Settlement filed a notice of appeal from the order and judgment. Under the terms of the Settlement, distributions will not be made, either by account credit or cash payment, until after the Effective Date of the Settlement. The Effective Date, as provided in the Settlement, will not occur until any and all appeals are finally resolved, which could take approximately one to two years. Future developments concerning the Effective Date and expected time for Settlement distributions will be posted in this space. Please check back for updates.

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avatar rosie

only those who had their transaction reversed in order are receiving payments, not those tht just plain over-drafted
it seems that everyone on here thinks they have money coming, but actually it is many millions less than actual customers.
I had a fast food purchase Tuesday, bought something twice Wednesday, and mortgage check friday…the took out mortgage first, then they others causing 4 overdrafts in one week..if they had done in correct order, i would have over-drafted my mortgage check by approx $20
This was not the first time they had done so I am the kind of customer this suit is about

and yes, over the years, some of my overdraft were my fault, but in 2008-2009, they did a lot of re-arranging, and that is what is being meagerly compensated

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avatar Zachary F

If you got the postcard your gtting a payment……..which im guessing is pretty much everyone who has said anything on here.

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avatar rosie

I see over the last few weeks a lot of people expecting all of their overdrafts to count, but that is not true. Just the overdrafts that were reversed and resulted in overdrafts that would not have been there otherwise, not self-inflicted overs. Definitely changes the $$ amount to be disbursed to the rightful recipients. Of the 13-14 million customers, this should only be affecting a 3-5 million, it won’t be affecting all of the customers. Most people have funds to cover everything.

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avatar kyvette parker

and you are an attorney? You guys just sit still, after this lawsuit is over THEN bitch about it.
You are all holding up payments!

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avatar Beth

I just looked at the bank of America overdraft suit. It said that an appeal had been filed. Now, it will take anywhere from 1-2 years to get payment? Bank of America will not be around if everyone pulls their savings out. Then, we will get nothing. It’s bad when you start losing trust in the banking system!

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avatar Edward

i don’t know where you found that but i posted last night that the case is final as of 11/7/11 and you can not appeal a settlement.
I’ve noticed everyone talks crap but doesn’t want to post where they got their info so money will be distributed soon.

http://www.consumerismcommentary.com/bank-of-america-settles-overdraft-fee-lawsuit/comment-page-9/

this is bproof i don’t believe any of yopu that talk crap with-out backing it up.

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avatar Zachary F

Here you go http://bofaoverdraftsettlement.com/.
That is the official suit website. Is that official enough for you lol

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avatar Ned

thank you Zachery for the proof. It must have taken you time to find that I have looked for hours to find truth of the matter.

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avatar kyvette parker

YEA Edward finally someone who talks some since for a change my e-mail is full of all their BS!

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avatar sandy11

edward read,the web site again.appeals could take 1 to2 years.

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avatar Damian

How do you find out how much in o/d fees you have paid over years of usage??

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avatar oneof99%

Good question….I never thought to ask them directly….I had printed out my OD’s showing dates, times, etc.– not all of them but a good bunch over the years. However, with the kind of IT systems BoA has in place; they most definitely have the ability to track it. Whether or not they say they’re able to is an entirely different animal.

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avatar Dena

If you demand that BofA put your account on “restriction” (I forget the program’s name but believe me, they know it) they MUST DO IT! This will give BofA the right to decline your purchase immediately for insufficient funds (even if it’s a penny short.) If they tell you they offer no such thing, they’re lying to you. I have it and have experienced being declined with a line of people waiting to be rung-up behind me. I apologize to the people waiting and explain I’d rather bear the embarrassment than give the bank the $35. It disarms them and they can relate. (It usually means taking the non-essential items out (didn’t really need them anyway.) The cashier will run the card thru again and get an approval…. Just be aware that you could still incur a fee if, after your approval for this purchase, a check just happens to clear….. (there’s a lot of those ‘coincidenitallies’ with BoA!)

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avatar Dena

Has anyone been credited anything yet from this suit?

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avatar Karen Cadwell

nothing yet! I assume they’ll yake their sweet a– time and by the time the individuals recieve their lawsuits they’ll be little or nothing left (count the lawyers in too.) One lady said she got 800 some dollars back. That must have slipped through the cracks! lol Let me know if you hear of anyone geting their money please:) Karen

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avatar Clara MacGinnis

I want to know when are we going to be credited! I have been with the bank over 10 years!

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avatar MF

AS SOON AS I GET MY REFUND OF $31.OO… I WILL PURPOSELY OVERDRAFT MY ACCOUNT HUNDREDS OF DOLLARS THEN LEAVE THEM QUIETLY..:)..

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avatar Conrad

I’m not trying to defend BofA, but we all had a choice to either go to another financial institution or stay with them. Obviously, just like everybody else in here, I stayed with BofA. That was a big mistake on my part. Everyone told me to go to a credit Union and I didn’t. So, it messed me up big time. What can I do?….NOTHING!! ….and I’m also sure that I’m never going to see a dime out of that settlement. Lest anyone think that the lawyers really sued Bank of America for the little people like us. No, no..they have their own interests also (just like Bank of America).
My point is that if you get something out of this settlement, …just take it and be happy. As for me, just the thought of Bank of America being MADE to pay anybody against their will is worth more than $31…or whatever the heck it is they want to give me.

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avatar Sarah

We already received our payment today in the mail, to the sum of 900.00. Didn’t even know we had any over draft fees’ but I’ll take the 900 bucks!

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avatar Luke Landes ♦127,505 (Platinum)

If you received a payment, it wasn’t a result of this settlement. Because of the appeal that’s been filed, it’ll be a long time before anyone receives proceeds from the class action lawsuit settlement.

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avatar Edward

bull crap you did

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avatar Jessica

Even if you opt out of overdraft don’t you still get hit with NSF fees if you don’t have the money in there?

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avatar Jessica

Someone made a comment about only getting refunded for when they rearranged the debits and not anything else. My comment to that is why? Because had they not “rearranged” the debits then I wouldn’t have overreacted continuously every month to try to catch up! I should be entitled to a refund of ALL my NSF’s and overdrafts! I would have never of had a quarter of those had thy not done that!!!! I want to sue somebody…I obviously can’t sue BofA…who can I sue? The lawyers?

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avatar Jessica

*overdrafted-not “overreacted”. Darn auto correct

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avatar Sarah

All I know is I received a check from is I received money from World Omni Finincial Corp from the Payoff overage in that amount. Took it to Bank of America yesterday, and it’s a real check from them. Other people I know in my area (florida) have also been sent a check…..as well

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avatar Edward

why lie it isn’t from the suit. maybve you had money coming for other reasons but its not from the suit according to http://bofaoverdraftsettlement.com/

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avatar Ken Arnold

World Omni Finincial Corp finances Toyota and foreign cars, did you pay off a car loan recently?

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avatar rosie

the check means that someone has paid more on the car than was owed, if you traded it in and calculations were done wrong by auto store, or whatever, but that is what an ‘overage’ payment is

it sometimes takes 60 days to get the correct amount owed

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avatar Karen Cadwell

Really? When??

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avatar trh

Does anyone know when this is going to be final? I so want to change banks. I have been with BOA for 30 years and am so dissappointed in the way they take advantage of their customers.

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avatar Luke Landes ♦127,505 (Platinum)

It could be a year or more due to the appeal that has been filed.

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avatar Jerome W

The B of A should just close their doors because of anti-trust violations and prejudice actions to customers account forbidden them to lumpsum allowances from the Federal Reserve Accounts. Thus forwarding the money back to Federal Reserve and never explain to customers of their banking invoice transaction. B of A is contempting our Federal Reserve Accounts with double taxation of the overdraft fee that is on a line of direct deposit which should be a line of credit toward none overdraft fees. B of A is anti-customer relations and selfish in it own actions.

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avatar Marilyn

Personally…..debit is debit not credit! A credit card stops it pretty fast if you are going over your limit! Just like I have bill pay…..why are you going to send someone a bill payment but not take the money out til the check clears???? For some that is like KNOWINGLY writing a bad check?! If the money isnt there then BofA shouldnt pay it!! In regards to the account history how can you have something processing for weeks on end but cleared in your online banking???? It doesnt take that long and yes they will still let you overdraft instead of putting the money on hold!!!

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avatar Edward

But if they do that . Then they will have to earn their money the legal way. Its much easier for them to steal from the poor and keep for them selves. They know people with plenty of money will hire a lawyer if they are wronged. But we can’t afford one so they will deal with paying 1/3 of what they have stolen from us for class action suits. its corperate bull poop at its finest.

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avatar Amber

Why are you all soooo caught up in this anyway? You won’t get back 20% of what you paid in and you probably won’t see a dime anyway for over a year…

Let’s move on with life…unless a whoppin $30 is gonna pay your mortgage or something, it’s really nothing to get so worked up over.

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avatar Jessica

Amber, it is when you’ve paid over $1k like most have. Or $10k in my case. It’s definitely something to get worked up over

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avatar rosie

I am sorry for the storm this will cause, but some of the respondents are posting about overdrafts only, not the rearranging of debits that caused multiple fees when there would have been only one overdraft
yes, you may have hundreds and hundreds in one session of overdrafts, but that is because many unfunded transactions were approved, not because of debit rearrangement!

and you would not have $3000-4000 in overdraft fees ever, you might have a transaction you didn’t have funds for in that amount that was approved, but you wouldn’t have rearranged debits causing that situation for that amount, your account would have been suspended long before that.

You could have in the neighborhood of $100-700 in overdraft charges over a period of time because of the rearranging, but it would have been over a long period of time, possibly 2 years

I am sorry, but it seems a few, definitely not the majority, want the bank to be at fault for them, the account holder, not having money in the account to cover the outstanding transactions, regardless of rearranging of when they came in!

Some of my overdrafts were my fault, others were because of the arranging of fees.

This is not about getting money back from overdrafts because of the fact that we didn’t have funds to pay our debts

It s about unnecessary overdraft fees because of rearrangement of debits.

by the way, other banks did much of the same thing, everyone acting like B of A only one, they are just the only one in this particular settlement

Chase approves transactions when you don’t have money in the account in hopes that y ou can’t cover the debits so they can charge overdrafts, even after all the news about bad things banks do, how is that better?

and some peple talk about running up overdrafts and then leaving the bank to pay them instead of the person who did it, how is that a solution? That is just another crime, but the account holder is committing t instead..

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avatar Jessica

Rosie, I HAD to overdraft after they rearranged my debts. Being out of work I only expected, and budgeted for, ONE $35 fee. Instead, they rearranged my debits and charged me 5 overdraft fees. That put me behind for the next month and it snowballed from there. Of course they kept rearranging and I am around $10k in the hole for overdraft fees. Most of these people here are in the same boat. They wouldn’t have overdrfted if the bank didn’t rearrange the debts. Funny, cause that $10k that they took from me could have paid all those bills with about $5k left over. The creditor will try to send through payments more than once which again results in overdraft if you were already in the negative from the rearranging to begin with. Man the more I talk about this the more I wish I got a lawyer myself!!!!

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avatar rosie

I mean that you might have an overdraft of hundreds in one session, but that is not overdraft charges, that is your debt of hundreds you incurred plus the overdraft charge amount

Why would you be angry that you wrote a check or whatever for hundreds when you didn’t have hundreds???? of course that bank will overdraft you!!

A credit union will close your account after 5 overdrafts in a year

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avatar stacee

U have no clue what u r talki.g about

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avatar lisa morin

I know the feeling bank of america got me for over 9000 dollars that bank is a joke

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avatar rosie

tgis is so ridiculous

Get real
it would take you over-drafting 300 times to have a 9000 bill, 30 times to have a 1000 bill in overdraft
you not having the funds is why you are so in debt, the bank paid your non-funded check, and you never bothered to pay them for doing that, yet you scream about the overdraft fees and how they are the crooks?????

you still owe the bank the original amount of the checks/debits you had…the only issue in all the lawsuit is the overdraft fees and how they occurred
not the debts you incurred aside from the rearranged overdrafts…

2 entirely different issues

the bank would not have let you get very far without paying your bill, a few hundred at a time without it being paid down

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avatar Jordanne

If I remember correctly, you were complaining just as much as everyone else was, earlier in this discussion. You were worried about how much you would get as well due to your situation. You said some of your overdrafts were your fault (making purchases your account when you know you don’t have the available funds, is not much better than writing a bad check as a matter of fact it is basically the same thing you just can’t get in legal trouble). You have no right saying who is fraudulant and who isn’t, I personally have never writen a bad check but have overdrafted, yet I am not judging anyone for their decisions. If people want to believe they are recieving full compensation or whatever let them believe it. You don’t need to get so worked up over it and start trashing people because you need to be right.

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avatar Jordanne

YOU WROTE:
“so after all this, and the over 2000$ they got from me, all I am going to get is approx $31????? How can that even have been settled under that amount??? $413 mill divided by almost 14 mill people is paltry compared to the 100 times more they made from us…how can this settlement have been reached this way?????????? One of the respondents figured he was getting approx $300…I wish…there is no way, and that is before attorney fees…how could this have happened?”
YOU ALSO WROTE:
I had a fast food purchase Tuesday, bought something twice Wednesday, and mortgage check friday…the took out mortgage first, then they others causing 4 overdrafts in one week..if they had done in correct order, i would have over-drafted my mortgage check by approx $20
This was not the first time they had done so I am the kind of customer this suit is about…

My point is that you said you PURPOSELY wrote a mortgage check knowing that you didn’t have available funds, yet you ask somone why THEY would “write a check for hundreds, when they don’t have hundreds.” I am definetly not one of the uneducated few… I knew exactly what this lawsuit was about because I read every court document put on the bofaoverdraftsettlement.com website (mainly so I could decide whether I wanted to object or opt-out). I also take accountability for my actions and I DO NOT expect any money from this suit. However, all the overdrafts aside it is CRIMINAL for them to re-arrange fees so that they can make a quick buck (As well as all the other banks who are also in class-action lawsuits) but it is not criminal for them to charge an overdraft fee for the original transaction that would have put you in the negative. The last thing I would like to add is that most of the people on this forum probably recieved the postcard which means that they are involved in the suit regardless if they believe that all their overdrafts made them eligable… so please don’t get too excited because you think you are special.

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avatar Marty_L1

It wont matter anyway. 31$. Not anymore. Somebody filed an appeal and there wont be any repayments issued from BOA till the appeals process is concluded. That could take another couple years. So make sure you don’t hold your breath on getting anything back cause you are likely gonna run out of oxygen.

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avatar Jordanne

When people were saying we were going to get 9% of our fees I was actually surprised because after reading the settlement agreement they have a formula that you can go by to get an estimate of your winnings and when I did a rough calculation and it came up to like $3…. so honestly I was never holding my breath

avatar Edward

no reply tab for Jordanne, The amount you’ll get back for each $35 fee comes to $3.15 per overdraft thats what .09% comes to.

avatar rosie

if the bank had never rearranged the order of debits, quite a few screamers on here would have still had major overdrafts because they had no funds in the bank period but wrote checks or used their cards

take accountability!!

what happened to the intelligent posts that people were doing?

now all I see are the ‘f’ word and how ‘the bank screwed me’, wen in fact you wrote bad checks yourself

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avatar Matt

Thank you Rosie, I have written a handful of times that while the banks practices were shady, it doesn’t take away from the fact that we who incurred these penalties to however big or small a degree mismanaged our own finances.

But this is the way of our country, no personal accountability, it’s always someone else’s fault.

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avatar Jessica

Matt, I take accountability for the fact that I was short 100 in my account when I wrote the check for my mortgage. However, I don’t take accountability for the fact that I had the money in my account when I made 5 debit purchases. Where is then remained pending for 5 days and then posted the day my mortgage payment posted. With the rearranging they charged me five 35 fees where I should have been charged one! I had money in the bank when I made those purchases! So the month after that I was short not only the 135 that I budgeted to pay but another $140! So being on unemployment with 2 kids in diapers and one on formula I was forced to overdraft the following month and then it got bigger a bigger every month after that! So don’t accuse people of not being accountable. Had the crooks not did what they did then I wouldn’t have been in that mess.

And the manager at BOA tried telling me it was written in the policy for them to do that. I wish after having it done month after month I was smart enough to sue them myself. I had to much trust In them. I’m lucky I had family to help me from losing my house!

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avatar Edward

Well put Jessica. I too was on unemployment and would still be if it hadn’t run out. I’m unforunately now living in my Dad’s unfinished portion of his basement. Thanks to all the banks and the wonderful Bush administration screwing Us the little people.I hope this offended no one, as I have calmed down from the other day.

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avatar Edward

Let me add that I had already stated that I have the deposit slip that stated the exact date my funds from a deposit would be available and I wrote my landlord my rent check that day. B of A claimed my funds were not available till the next day and my landlord went to B of A and cashed the check and it was Then that I got a e-mail stating a charge for $35 for insufficient funds and it snowballed to charges I had made earlier in the week that I did have the funds to clear so BUG OFF Finger pointers. B of A said they couldn’t help me even though I had the deposit slip in my hands stating the funds were available. Lawyers won’t talk to someone living on unemployment that have been screwed out of $140. So please point fingers now.

avatar Matt

I am sorry for your story of hardship but it is still your fault,and my fault, and everyone’s fault. For WHATEVER reason, we spent money we didn’t have.

Rather than complaining about the bank, what if we cancelled the cable tv, ate out a few less times, sold some crap on craigslist, opened a savings account (probably with another bank) and put $1000 in savings? If we did this most of us would have no connection with this lawsuit.

I am sick and tired of our country whining about their hardships and blaming everyone else. Don’t wait for another gov’t handout, pull up your bootstraps, tighten your belt and make it happen. That’s the only way we will save our own families and this country.

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avatar rosie

Edward, your comment on my comments emphasizes my point

unfortunately, this site has now become wasteland, just lie anything that is free

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avatar Luke Landes ♦127,505 (Platinum)

Just a reminder to read the terms and conditions before commenting. Keep the conversation civil. Do not insult other readers. If you do so, you will be banned from participating in discussions here.

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avatar LEE SAVOY

Yes this is the first i hear about getting a booklet of some sort, about the suit. I realize that they got me for a few hundred dollars and not expecting for a lot in return. But whatever it is i sure want it right lol. Good luck to everyone and thanks for keeping me and others informed.

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avatar Ken Arnold

FWIW, I received a small booklet today about the Lawsuit and opting out, staying in etc. so I’m guessing everyone will be getting this one also.

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avatar ned

I wish there were dates on these posts. When did you recieve a booklet? The rest of us have only gotten a post card. I can’t keep up with all these posts every day and I guess I missed this post by you Ken Arnold. Please let me know when you got the booklet.

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avatar Ken Arnold

I received it early Dec., 8 pages. It just just spells out the whole process w/ appeals etc., like the Lawyer website does.

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avatar ned

thank you for your quick responce. I’m surprised no one else has mentioned getting one. I haven’t. I might not be due all my overdraft fees but I’m definately qualified to recieve many back from them switching dates of transactions.

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avatar Ken Arnold

p.s. I double checked it and It’s from the “Claims Administrator” and It also states on the 1st page “A $410 million settlement has been reached”blah blah etc etc. so it’s a very recent publication.

I also had 2 checking accounts that they played with so I should be entitled to double lol

avatar Josephine Franchino

On several occasions this happen to us I went to the ATM I thought I had $20 and there apparently I only had 18 they gave me the $20 anyway then they went ahead and put that bounced debit five or six transactions in advance and $35 a shot in this happen no less than half a dozen times to the best of my recollection so the attorneys quit coming up with ways to stretches out for another couple years and cost us another 30 million we might actually get some of our money back sincerely Josephine Franchino

avatar ned

Below is an example of BofA and how they are still changing the order of transactions. this is from the past few days. Today I did a return at Home Depot for $38.19 and before that I made a purchase at Sam’s conv. store for $22.38 and last thursday I made a purchase at Sam’s for $22.17 and my most recent purchase was at Dunkin doughnuts for $4.51 because my most recent Sam’s purchase was more than the first one even though it was 4 days ago it was taken out before the purchase today.

So be warned they will still screw us as often as possible.I’d have a decent balance if they hadn’t charged me almost $1000 in overdraft fees in the past. all because they gave me a wrong date that a check I deposited would be available. Had I known the funds wouldn’t have been available for a day later than it said on my deposit slip none of the over draft fees would have happened buit I made several purchases that would have cleared if they did take $750 in over draft fees out before clearing transactions from even before i made the deposit.

They wrong us then multiply charge us for their wrong date. And nothing has changed in their way of doing transactions to date. You can see 3 transactions on 1/2/12 and they surround the one made on 12/29/11 BofA = Bull of Ass(s**t)

Processing(Opens a new window) CHECKCARD 01/02 DUNKIN #342885 Q35 GLASTONBURY CT -$4.51 $159.43

Definition ofProcessing(Opens a new window) CHECKCARD SAM`S FOOD STORE GLASTONBURY CT ON 12/29 -$22.17 $163.94

Definition ofProcessing(Opens a new window) SAM`S FOOD STOR/952 NE 01/02 #200214169235
PURCHASE SAM`S FOOD STOR/952 NEW GLASTONBURY CT -$22.38 $186.11

Definition ofProcessing(Opens a new window) CHECKCARD REFUND 01/02 THE HOME DEPOT 6220
GLASTONBURY CT $38.19 $208.49

avatar ned

Josephine I have been to the ATM and yes they will let you take money out even if you don’t have it. I do know how ever that as long as you deposit funds to cover the overage by 11:59pm the same day fees won’t be applied but if you don’t cover it then you will be charged $35 plus any other charges that haven’t gone through that are larger than the amount you withdrew. They also have a screen that comes up telling you the funds aren’t available and you may be charged an overdraft fee and ytou have to accept that before they spit the money out. so say you had $100 and you charged $15 then $19 then $18 then $15 then $14 leaving you $19 but you with draw $20 the bank takes out the $20 plus the $35 fee actually leaving $45 then they take out the $19 plus $35 leaving $27 then the next $19 leaving -$27 so they then take out the $18 $15 $15 and $14 which all are overdrafts resulting in a total of 6 fees of $35 to a total of $210 in fees its a ponzie sceme that the courts have let them get away with. they take out the first $35 even though there is money to cover but because they group them and since you with drew $1 more than you had. they get rich. Its bull crap but who are we to stop them. They know no one will hire a lawyer for $210 and they figured before we found out its happened to many others they initiated this suit to cover their ass-ets knowing they could hire lawyers to settle this in court for pennies on the dollar. Makling it totally legal cause the courts said its ok. Thats why I have started a petition further down on this page to fight for every dollar they have stolen plus interest.

avatar Paul

I too receive a booklet

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avatar Ken Arnold

FWIW, I received a sm booklet today about the Lawsuit and info to opt in, opt out etc.. Nothing major, same as before.

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avatar Rhonda M

Bank of America is still doing this. Just this month I was shy a few dollars but the way they posted the transactions – mind you when everything was processing all the debts were being taken out smallest to largest – but once it posted things were taken out largest to smallest resulting in 4 overdraft fee…:(

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avatar ryan r

Why continue to bank with them? I switched to a credit union and never looked back..

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avatar KM

I switched to a credit union and have the same issues. They will subtract withdrawls before adding deposits despite the fact that I deposited money well before anything was purchaced.

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avatar cyndee

This is an election year and we news to use that to our advantage. Laws will never get changed if all we do is sit and complain. Instead of writing our complaint on this blog, we need to get a petition going and get it to Washington. Legislation is for the people and we clearly kno by experience that BoA is NOT for the people that support it!

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avatar ned

here is what the petition is

We need to make Bank of America accountable for all the money they have stolen from us. Every singal dollar not 9%. Stop the corporate greed in this country. Big money can afford to hire lawyers. We can’t fight these top lawyers when we have nothing, because it was all stolen from our bank accounts. I think that Bank of America hired the lawyers to fight this case so it would be settled for pennies on the dollar. The lawyers would be happy receiving millions for nothing. Bank of America would cut its losses by hiring them to start this suit and not fight for whats right. These lawyers don’t represent Us the working class. Or there would never have been a settlement for such a rediculously low amount of $$$.

We need to put a stop to B of A screwing people by changing dates of transactions to charge extra overdraft fees. There is a classaction suit pending appeals where for each fee people were charged $35 they will be refunded $3.15. They ripped us off and are getting away with it. The lawyers will receive millions of our money that was stolen from our accounts. The lawyersw should be doing this probono. It never affected them.

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avatar Karen Cadwell

What can we do?? Its like fighting City Hall! Karen

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avatar ned

I posted a link below to a petition, scroll way down. its the link that states bank of Americas scam. in one of my posts. Feel free to copy and paste it anywhere to help get more signitures. Its not getting signed as fast as I thought it would. People like complaining, But they won’t do anything about it.

avatar Victoria Williams

Yes, I am still with Bank of American, and yes they are still doing this. How can you be taken to court loose and continue they same practice. I guess it will just happen again. Either that or they loose so much money that, they get taken over. Go figure the oldest bank in American is not going to be Bank of/for America. Greed is not a good thing
Just goes to show, how the Greedy 1% want more then loose and still somehow remain ontop. Many just change the name, of the business and do it all over again.

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avatar ned

If you could take $35 from people and the court said you only have to pay back $3.15 would you do it? I personnally wouldn’t but BofA doesn’t know anything but greed and court ok’ed stealing.

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avatar Shannon

I recieved my 98.00 check in the mail yesterday so apparently they are starting to release the funds weird thing is I still have an account with them and im married. My account was not credited and the Check was addressed to me only with my maiden name. Wonder if it was from the account I closed with them prior to opening the new one. So does this mean per account you have had with them????

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avatar dave

you received your overdraft settlement payment? when? i’m still waiting on mine!

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avatar Jennifer Horton

Shannon, what is the date you received this?

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avatar Shannon

Ok I read the letter with my check it was from a lawsuit with boa out of california back in 2009 so guess that tells you how long we have to wait but im confused since I recieved a settlement from lawsuit out of california do I get another from this lawsuit. If u were a customer prior to 2007 check ur mail u may have a check for 98.16 in there I did

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avatar dave

i thought if you had an account they just add the cash to your account?

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avatar charchar

I also received 98.16 i know everyone did not have the same over draft fees…. whats really going on… did they change the amount from 32.00 to 98.16. Inquiring minds what to know. IJS

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avatar Luke Landes ♦127,505 (Platinum)

The $98 you received is not from the overdraft class action lawsuit. It’s from a class action lawsuit pertaining to debit cards, but does also pertain to the order of debits posted on your account.

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avatar Amanda

I never recieved any info on the debit card settlement. I am out close to $6,000 because of their processing order. I spent many hours working only to have a negative account. It’s sad qhen your check goes through and it’s gone. Is it too late to be considered for the debit card settlement?

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avatar jo franchino

Hi, my name is Jo. I have been banking with Bank of America for many many years just like the rest of us. I live paycheck to paycheck. Here’s one example of them stealing my money. I had $20 left in my checking account all my outstanding checks have come through. I must’ve miscalculated about the $20 it gave me the $20 anyway directly from their ATM at the bank. Then when I got my statement they reversed everything they made it out that I got the $20 out first then sent out all my checks. There were already paid. Needless to say this cost me a rate around $300. I thought all banks pretty much did this so I’ve been with the same bank, Bank of America for more than 15 years. Like I said I figure all banks get you one way or the other. But when we started adding all this up. It runs into the thousands of dollars. My son’s wife had to have reconstructive surgery on her chest. The company was sued from billions of dollars. My son’s wife had no choice but to have these put in at the beginning they were going to pay to have them removed and replaced and compensate her in the amount of 140,000. We kept getting letters. It would be the same letter would just a few words changed in it. Come to find out every letter they sent out the lawyers were compensated $50 in when you have a couple million clients and nobody keeping an eye on the lawyers. My wife got a check for $1400. I know this letter was a little confusing. I am Chris Joe’s son. I picked up the letter. About halfway through. Good luck to all of you. Sincerely Jo and Chris

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avatar patj

I’ve had an account with BOA since 1997, I received a card on the overdraft lawsuit and it said you do not have to respond unless you choose to opt out,so i did’nt.i haven’t heard a word since..Does anyone have any info?

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avatar scott

I was basically told the same thing. They will never give us our money back. when you owe them something, they are right on it, but when you have something coming, they don’t want to pay. I will never do business with them again.

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avatar Kellii

I lost my check. :( Is there any way to have them reissue it ?

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avatar ned

sure just call BofA they will help you with your $$$ like they have done in the past for all of us in here.

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avatar cassandra lockett

i have not heard anything from boa only the post card why dont you all have a live person to talk to us you have a live person to take it out i am on disability from brain surg every penny count please help me

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avatar cassandra lockett

why is that some got 98.00 and or follow up and some got nothing like me

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avatar ned

no one got anything. they are just trying to piss you off. if they got something it wasn’t from this lawsuit.

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avatar Josephine Franchino

Doesn’t it strike you all very funny that one or two people can fill out a piece of paper to tie this up in court which you and I both know it ain’t going to make a whole hell of a lot of difference to anybody but the attorneys doesn’t that strike you very suspicious it certainly does me almost $30 million we lose any attorneys gain years ago my wife went through that implants lawsuit she was supposed to get 140,000 we didn’t have computers then so they were allowed to bill $50 for each letter sent out patient which was millions now that it doesn’t cost anything for mailing it seems to me they figure out another way that’s just my opinion thank you USA for freedom of speech is I think you attorneys of the biggest crooks at least the ones I’ve dealt with our sincerely Josephine Franchino

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avatar Mark

I don’t think anyone is Happy with the settlement if your only going to get a fraction of your money back.why is bank of America being able to rob us ,this is one of the biggest heist I’ve ever heard of.

avatar Raul

The bank is not goin to give any one nothing until we dont stand together and go in front of the BOA and protest in NY.

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avatar tiffany

okay….got a few different postcards a while back, and 4 packets….kind of an over kill in my opinion…but none the less…..ummm…$$??$?$$?$$??? are some people getting their checks and others arent? is there anyone i could call?? i am sooo confused on this. ok. thanks. :)

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avatar Josephine Franchino

Hi I just wanted to remind everybody about the lawsuits pertaining to the and plants for breast my wife had cancer she’s okay now even know were divorced on glad the lawyers were allowed to charge $50 for every letter that one out at that time and there were millions of patients she was supposed to get no less than 140,000 and the implants removed and replaced with something safer by the time the lawyers got done the letters they were sending out they would change one or two words just so they could charge that $50 millions of times now but that won’t work conveniently this going to appeals court which will cost approximately $30 million isn’t that just a little convenient these larger class-action suits should be put on the top of the schedule in these attorneys should have a Put on them just like they do and civil court I think it’s time to look for new attorneys that are willing to make a reasonable deal instead of taking all of our money the other attorneys will be allowed to put a lien against us but they will not get away with putting a $30 million lien against us good luck to us all in screw you if you’re an attorney working on this case sincerely Josephine Franchino

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avatar stacee

exactly—NOTHING IS HAPPENING FOLKS!!!!! Besides, why is ANYONE getting do uppity over a measly few dollars…..it’s a joke!!!!!!……a slap in the face. Although I can use EVERY cent that comes my way right now, I am SO offended by this so-called “resolution” …when we finally get our piddly pocket change, I plan to donate mine to a local charity.

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avatar cyd hannan

AMEN STACEE!! I have resigned myself to the fact that we will probably never see a dime! Maybe my future grandchildren will get it!

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avatar stacee

some b of a customers have gotten $98 but it is COMPLETELY unrelated to this suit!!!!!

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avatar luz

I received the postcard an thtat was it. does anyone out there know what is goin on

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avatar oneof99%

Is there a CREATIVE-MINDED lawyer out there or an out-of-the-box thinker who can come up with a way for those of us who didn’t “opt out” of the class action lawsuit (AND are still getting screwed by BoA) to go after these SOBs on some other charge? Like…..how can it be legal
to offer a bankcard to your customers asking them whether they plan on using the card as a charge card or a debit card? Not only that, but offer the new customer an incentive of $100 for using the card as a charge card at least six times in a month. When you charge something you swipe your card and walk away with the item(s) purchased. Does that mean your purchase has been paid for?….the retailer has gotten an okay but the cash is still in your account. Right? Yes, right! It’s a different angle but it’s not just the fact that the bank
is rearranging purchases in a different order that screws people up. It’s also about the discrepancy between using bankcard as a debit, when the amt of purchase is immediately taken out of acct, vs using as a charge, the bank guaranteeing the retailer that the money is in your acct. How is it allowed that while that cash is there in the acct a person can be charged a IFF (Insuff. fund fee) when the charge is [P] (processing)? The retailer has not received payment from the bank and the account’s balance shows the money is in there?
BoA will tell you….once you swipe your card — that’s it! so….What about swiping for returns?
BoA will tell you….that’s different…we have to wait for the paperwork from the retailer.
I liken this experience with BoA to playing with a young child who has made-up a game and changes the rules constantly for his own benefit.

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avatar ned

What kills me is, Because of the overdrafts my credit is crap yet the $35 was taken care of instantly and I have bad credit from paying more then I would have had to pay a loan shark. I believe loan sharks are illegal but stealing from peoples bank account with-out any reason is legal I guess. Well legal if you pay back $3.15 on every $35 you steal after a few years.

Whats wrong with USA? I’ll say nothing more than as long as you have tons of money, Its OK to steal from those who don’t

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avatar ned

I meant to say the multiple $35 fees were paid instantly. Because My fathers name is on my account they stole the $750 from his account. He has never had anything like this happen to him and he was pissed, Yet there was nothing we could do. My father even accused me of being careless with my money. Till I showed him the account statement and my deposit slip with the date the funds were supposed to be available. I have never been so pissed off and embarassed in my life. I have long paid my dad back. Money I never should have had to pay. We all in here know the feelings. I think we need to get all these comments to the court in fl. before anything else is decided by people who don’t care a bit about us they just care about getting their 33%. The judge needs to see how we feel. I still think the lawyers that started this suit are on retainer from BofA. Otherwise BofA would have changed the way they post charges. They are going to do this all over again and again and again. Think how many billions they could make in 30 years of ripping us off and setting up a scam suit to get away with it.

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avatar richypoor

i think we all should put our chump slap in the face change together and slap them with a 9000 billion trillion dollar settlement and shut em down

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avatar oneof99%

We need to unite in solidarity like the those brazen, breastfeeding Mamas did when they converged on Target stores (across the county) and held a “mob nursing”. They timed it around the county to openly nurse their babies in response to that one Target that had offensively handled one mother as she was discreetly nursing her baby.
We should all just figure out a start date and across the country hit as many BoA’s as possible. Oh, lovely obnoxiousness…..we should go to the BoA’s and have them print out our recent activities and have them explain to us what it all means….I mean make those poor employees work all day with all of us and any nonsense we can think of to waste their time but as a crowd, across the country. Every single one of us physically going to the banks and requesting them to work, research, print out, etc. etc, It could go on for weeks! The drain, the utter waste of their time but we’re customers…we have accounts with them… we can ask, “please explain all the rules”; “How far back are you able to print out activity on my account?”…”Can you print it out for me?” “Can you explain how to navigate your website?”
for weeks. Draining them, wasting their time and BoA’s money on utter stupidity.
Sad…my fantasies used to be a lot more exciting than this!

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avatar des

i still have niot received my little refund and honestly they can have they are scam artist and my money will never go in a bank again!

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avatar des

i say we get together and protest i will be there cus this is bull shit!

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avatar Paul

I have yet to receive any money from Bank Of Croaks. My opinion! I don’t think they are going to pay anyone anything.

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avatar cassandra

boa think they are smart thats why they created a web site so they want have to talk to us over the phone they dont care they claim 1 person file a apeal so the rest of us have to suffer because of 1 person they know who they person is okay pay every body else and after they settle with that person pay them but they can pay lawyers now why cant they wait like our money should not be to pay lawyers they need to hire somebody to reply to this emails they are replying to we gettig screwed all around

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avatar joy

i recieved one post card and that was it , it has been months i hope we all hear something soon i think its a disgrace that big bussiness takes advantage of people and gets no punishment whats so ever they will pay back a measly % of what they stole from us thanks to boa i now trust no banks

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avatar ned

This is a link to a great video I found while looking at moveon.org info. Its 10 minutes long but it doesn’t seem it if you agree with the 99%. All of the 1% need to see this. So please spread the link everywhere you can if you agree.

http://front.moveon.org/what-living-on-7-an-hour-actually-means/

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avatar ned

This is another wonderful article for all of us 99% to see. What banks are giving in bonuses this year ITS SICKENING. wall street will take a drop in bonuses, But the banks are making a killing.

http://news.yahoo.com/wall-street-bonuses-may-reach-lowest-level-3-184301455–abc-news.html

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avatar ned

another great example of B of A changing the order of fees look at the dates and notice paypals dates aren’t even shown so I copied and pasted the paypal example with dates. How is anyone supposed to understand all this. They all cleared on 1/3/12 but the dates are in the payment description. notice the transaction on 12/29/11 doesn’t even have a front slash. I will type date in parenthesis just above the dates of the transactions where applicable. I also find it interesting that the charge to M&R was made on the 3rd and it clear instantly, not at the end of a week just strange it was on a tues when all the charges cleared the day after a state and bank holiday.

01/03/2012 PAYPAL DES:INST XFER ID:5HMJ25GWV7CQU INDN:EDWARDYOST CO ID:PAYP -$2.20 $143.49

01/03/2012 PAYPAL DES:INST XFER ID:5HMJ25H75RSFA INDN:EDWARDYOST CO ID:PAYP -$4.90 $145.69

( DATE)
01/03/2012 M&R GLASTONBUR 01/03 #000340203 PURCHASE M&RGLASTONBURY GLASTONBURY CT -$13.35 $150.59

( DATE)
01/03/2012 CHECKCARD 1229 SAM`S FOOD STORE GLASTONBURY CT24777421364980006819678 -$22.17 $163.94

(DATE)
01/03/2012 SAM`S FOOD STO 01/02 #000169235 PURCHASE SAM`SFOOD STOR/9 GLASTONBURY CT -$22.38 $186.11

(DATE)
01/03/2012 THE HOME DEPOT 01/02 #000987105 REFUND THE HOMEDEPOT 62 GLASTONBURY CT $38.19 $208.49 ______________________________________________
These are the paypal charges from their site with the dates
——————————————————————————
Jan 2, 2012 paypal Payment To Inc. Completed -$4.90 USD
Dec 29, 2011 paypal Payment To Inc. Completed -$2.20 USD

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avatar ned

I just noticed that the dunkin doughnuts charge of $4.51 from previous post didn’t clear till the 4th. yet it was made on the 2nd why was M&R paid instantly but DD wasn’t of coarse we all know the funds were removed from our accounts instantly so they coulkd rack up overdraft where applicable. and where I typed date above the dates in description flexo changed the type and moved them sorry. I tried to make this easy.

01/04/2012 CHECKCARD 0102 DUNKIN #342885 Q35 GLASTONBURY CT
24610432003072010064155 -$4.51 $136.88

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avatar Rob

Can’t wait to get my $2 out of the $410mil. Everyone gets paid except the people that were hurt in the first place and BofA still walked away with over 3billion in profit.

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avatar richypoor

soooooooooooooooooooooooo sad all we can do is pray for all the wickedness life here is like a blink of an eye if compared to eternity so they can have the money we need to pray for them god has a future for them and its not something anyone should wish on anyone else. they will weep so loudly it will terrify even the strongest forgive them for they know not what they do

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avatar ned

I have started a petition to have Bank of America held accountable for all the money they took from the overdraft fees aqnd the lawyersa get none. go here to sign.

http://signon.org/sign/bank-of-americas-scam?source=c.url&r_by=1956250

its part of —- MoveON.org —- helping to make this a better nation.

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avatar ned

Need more signatures on the petition listed just above. Please sign and get all the people you can to sign.

Its our money they are playing with. Not B of A or The lawyers. Bank of America made Billions off us and the lawyers will get $136,000,000+ out of the $410,000,000 settlement. Then subtract mailing and check writing. What will we get if we don’t stand up to them $3.15 per $35 fee if we are lucky. please click the link in the post by Me I’m replying to. Its run by signon.org a division of moveon.org.

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avatar debbie a.

thanks for getting that going. hope it helps.

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avatar ned

Me too just wish more peoploe would sign. thanks

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avatar Shay

I have to say that we all know that we, the victims of this BoA overdraft set-up, are getting the “short end of the stick!” But, I think everyone is overlooking a part of this issue. We are going to get less than the amount of one overdraft fee, which is really a testimony to the unfairness of the whole thing. Worse, this settlement allows a very few (not those who are the victims) become quite rich (compared to myself and probably many others anyway). And to top it off, this was all set-up and won with my, and many others’, personal financial information, which I know I, at least, did not give permission to be released. That is probably the most upsetting part for me; the fact that my personal financial information can be used without my permission and I’m not even going to see half of the amount taken from me!

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avatar ned

I posted a link to a petition to get all our money back. B of A I will almost garauntee is the ones that initiated the classaction law suit to cover their asses. How else could the lawyers get all our info. Its nothing but a big huge scam by B of A to get rich off us. here is the link and you can cdopy and paste it anywhere by highlighting it and right click then click copy on the pop up.

then right click where you want to post it and click paste. I have posted it on my FB page and in here. The more plaqces its posted the more signitures we can get and let everyone know we aren’t pleased with this huge scam by B of A.

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avatar jason

I received the ‘lawsuit postcard’ in oct. of 2011. I’ve since moved from Seattle to NYC. I have not received any other notices. Who do I contact w/ my new address info? BofA? HOW DO I “OPT IN”? And will the refunds be adjusted to each individual case or will there be a flat rate for all of those who get refunds? BofA owes me BIG TIME! Thanks-

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avatar Kelly

My husband and I had opened an account with BOA when we first got married in 1996. The bank mixed up our account with my brothers who was living at the same address as we were. The checks my brother wrote on his own account was taken out of ours. It wasn’t to long after that we got sick of the thousands of dollars they had duped us for that we switched banks because of that and the fees. Fast forward about 9 years. My husband and I open separate acounts with BOA due to the fact that this is where his paycheck was drawn on. Not a week went by we din’t have overdrafts on both accounts. To the tune of$9000+ for the year by the time it was all said and done. Now someone please tell me how $98 is supposed to make up for almost $20,000+ THAT IT COST US. I am outrage that they are getting by with STEALING peoples money. If I , for example, make a mistake in my ledger, say $12. Why should I have to continuously pay for that mistake with every transaction after that until the account is finally closed.

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avatar Kelly

The ones that made the decisions to work there drafting like they did … and do … should have to live on the salaries and raise kids on the hand to mouth families income and have to deal with financial problems like with there bank!

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avatar diane

hello everyone,yes i receive my postcard and that all i receive,What date did anyone receive $98.Do i need to contact anyone about my money or it been mail out.I thought if you have an account that suppose to post that check into your account,someone talk to me and tell me what’s really going on.

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avatar Ned Yost

no one has received anything from this classaction suit the $98 is from a different suit altogether. it may be 2 years till anything is paid out for this.

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avatar Tee

I’m very confused about the class action settlement and how funds are distributed. I received the post card about the suit but have yet to receive this new update on the appeal. I banked with Bank of America early 2001-2005 when they were really bad at intentionally causing tranactions to overdraft. For about 1 1/2 year I would fees totalling $200 or better per week. It got so out of hand I had to close my account and when asked by BOA why I wanted to close the account I informed them exactly of what they were doing which to my surprise comes out in a Class Action Suit years later. In 2009 I reopened a new account with BOA but have not had any problem with thems whats so ever. My question is if the appeal is upheld will we all just get $98 like the receivers of the suit surrounding the debit card? Since I reopened my account in 2009 will I be compensated anything if this goes through since the old and newer accounts are not linked? With all this madness going on it would be helpful if there were a customer service line regarding this manner.

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avatar Luke Landes ♦127,505 (Platinum)

The $98 amount some people received is not related to this overdraft class action lawsuit. If the appeal is upheld, it could result in no settlement payment. If the original settlement is upheld, it could still be years before class action members who received the postcard ever receive anything.

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avatar Veronica Stevenson

Where is my package about the lawsuit. i Haven’t heard anything els about this matter. I got a post called about 5-4 months ago. Did what need to be do and mail it back in. and from that i have heard anything us about BANK OF AMERICA.I’m glad i decide to just check up on it and now i see the comment that other have got money back.Others have got something back about the lawsuit. I haven’t got anything from them. And this was settled back a few months ago. What the Hell it going? How and who do i contact about this matter with BANK OF AMERICA LAWSUIT..I WANT MY MONEY AND I WANT IT NOW

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avatar Luke Landes ♦127,505 (Platinum)

As explained in the article and in multiple comments, any payments customers have received are *not* related to the overdraft settlement. It will be at least a year, and probably more, before customers receive anything regarding the overdraft fee settlement. The post card was the *only* communicatin sent to affected customers in this particular case.

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avatar Veronica Stevenson

i have the number to the law frim that handled the Bank of America case!!! office number
713-650-8805 and the name of the law frim is Gibb & Bruns in Huston. I;am not going to stop until i get my money might not be what is owed to me. but right now $98.00 will help on GAS. to me they just used us to get the ball moving and the lawyers collect all the money. they where glad to send the post card out about the law suit.
so they should be just as happy to give us our MONEY!!!.MONEY!!!! MONEY!!!.

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avatar charles

On Monday 1-23-12 bank of america once again proccesed my debts from largerest to smallest bouncing 3 items less then $20.00. I have 3 overdrafts for $35.00. If tehy continue this practice after the lawsuit, can they be sued again?

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avatar Alexandra MacArthur

How do I find out who the lawyer was for this lawsuit? I have just found out that Bank of America has been charging my roommate $35 because they don’t like my hand writing on the rent checks. Clearly, I want to do something about this.

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avatar Raul

People just relax and wait for your check.

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avatar Veronica Stevenson

LAW FRIM NUMBER 713-650-8805 NAME OF THE LAW FRIM IS Gibb & Burns in Houston

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avatar sammy2

Veronica – that is not the correct law firm already figured that out.

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avatar Veronica Stevenson

ok thanks i did talk to someone there.And they told me as well. But thanks for the info.

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avatar James Shields

Where does the 410 million dollar amount come from? I know that year, BOA got thousands of dollars from just me, and that year, they had accumulated 8 billion dollars from just overdraft fees, mostly accumulated from paycheck-to-paycheck customers. Why is the settlement amount such a low number?

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avatar debbie

If all the people that were screwed by unjust overdraft fees would leave BOA, then they would be screwed, because that is alot of business. Stop complaining and take action. Close your acct and leave. That is about the only way we will be able to win.

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avatar christine marshall

I received a card then a letter stating I was part of the lawsuit regarding overdraft fees. When are they sending out the settlement monies.

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avatar Alex

I thought some individuals say they have been paid some pennies on their stolen dollars. Why haven’t I received anything since then?

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avatar Luke Landes ♦127,505 (Platinum)

A friendly reminder: Personal attacks and name-calling will not be tolerated here. If the conversation can not be maintained civilly, the discussion here will be closed (again).

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avatar Darith

I have been with BOA for years and years – at least 2 accounts, if not more. Does anyone know about the opt out feature…what I specifically want to know is are you included if you DO NOT opt out, or do you have to opt in? I haven’t rec’d anything in the mail about this suit. Thank you.

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avatar ned

Its way to late to opt out. Its a way B of A insured that we would only get pennies on the dollar. They worded the post card to make us believe by not opting out we would get money back. Of coarse its pennies on the dollar. If we had opted out we could file a suit ourselves and get full restitution. There were only a small amount of people that chose to opt out I couldn’t as I was out of town when the postcards were sent and by the time I got mine the date had past.

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avatar Ken Arnold

If you Opt out, you have to sue them yourself. Good luck with that expense for Lawyer fees up front…

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avatar ned

You don’t need a lawyer in small claims. I haven’t been that unlucky to go to a full out trial. They got me for just under $1000 from 2 different problems with them.one alone came to $750 someone had gotten my account info and was trying to charge my account $90 then $60 the $30 every other day for 2 weeks and I went to the branch near me as soon as I saw it and they told me there was nothing they could do thaqt I gave the info to someone. I told them to put a stop to it and they said they couldn’t till I paid up the money that was attempted to be charged plus fees and I told them it was bull and they threatened to call the police if I didn’t leave the building ( I was a little irate ) as they probably were behind these bogus charges. thats why they wouldn’t tell me who was trying to get the money. this went on for 2 weeks and the charges came to $750 +or- a few $$ this story is in here some where plus the time they tolod me my check would be available on a certain day and I wrote my landlord a check and he deposited it in his account and the funds hadn’t cleared on the day they printed right on my receipt. again I was asked to leave the bank as it was the second time they screwed me and people were leaving the bank because of my yelling with curses. I never made threats and had all the paper work to prove I was right and they were screwing me. I got applauded when I walked out of the bank. They just refused to listen to me and kept saying my paperwork was incorrect. The bank never ever makes mistakes. no they do this crap on purpose to screw us. believe it or not I’M still with them as they are the closest bank to where I live and I don’t have a car. I have learned most of their tricks and avoid them at all cost. I make notes on my account on-line with dates and times of each transaction and they know it so they haven’t screwed me lately not in the last 2 years anyway. but they still screw everyone they can. I know many others whom have had problems like mine. BofA is crooked as they come if you don’t watch every little detail.

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