bank of america

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Beverly Cooperative Bank

254 Cabot St Beverly, KS

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Eastern Bank

771 Salem St Lynnfield, MA

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I opened an account at BofA and was hopeful that they would live up to the friendly attitude that they seem to convey in their advertisements, brochures, etc. Things worked okay for a while then I made a mistake... I take full responsibility for this mistake, after all I did it... BUT... I did not know how much it would cost me. Here is what happened...

BofA encourages all to use their debit cards and it is convenient, but you have to be very careful...

I called the BofA account line one day and heard that I had an available balance of $42.00. That morning I stopped by Dunkin Donuts and got a coffee and a muffin for $3.45....later that day I got food from MacDonalds for $6.25.... I forgot that my automatic charge for my cell phone was happening that night for $62.00 and that happened...

My immediate thoughts were Oh No! I just bounced my cell phone charge and will have to pay a fee for being stupid! I figured okay... I'll pay the $35.00 stupidity tax and remember that this happens on the same day EVERY month... again it's my fault! Here is what Bof A did to me...

Recall... In one day there were charges for

$3.45
$6.25
$62.00

In each case the money was deducted from my account as I made the purchases... reducing my available balance...

At the end of the day BofA takes the three events and applies the largest to the available balance first... even though the order they came in was quite different.

They applied my charges like this...

$62.00
$6.25
$3.45

By doing this "Most to Least" it caused all three events to incur a fee. In other words they maximize what they can get from you... So....after they tack on their fees...For doing nothing mind you...

My $3.45 Dunkin visit cost me $38.45
My $6.25 MacDonalds visit cost me $41.25
My $62.00 Phone bill was now $97.00

Had they applied everything in the order that it came in to their computers they would have made $35.00. Apparently that is not enough. My three charges netted them $105.00 - For doing nothing.

It gets worse...I went to the branch where I opened my account and asked about getting some of my money back. The branch manager acted like a trained monkey spouting of company dogma, and not caring a bit for my problem..He was rude, and he talked down to me like I was a child. No resolution, compassion etc. This is outright legal theft... because it is all spelled out in tiny legal mumbo jumbo when you sign the customer agreement... They legally take your money from you using a software program that maximizes the amount of money they can legally squeeze from you.

I switched banks!

1
★☆☆☆☆

I opened an account at BofA and was hopeful that they would live up to the friendly attitude that they seem to convey in their advertisements, brochures, etc. Things worked okay for a while then I made a mistake... I take full responsibility for this mistake, after all I did it... BUT... I did not know how much it would cost me. Here is what happened...

BofA encourages all to use their debit cards and it is convenient, but you have to be very careful...

I called the BofA account line one day and heard that I had an available balance of $42.00. That morning I stopped by Dunkin Donuts and got a coffee and a muffin for $3.45....later that day I got food from MacDonalds for $6.25.... I forgot that my automatic charge for my cell phone was happening that night for $62.00 and that happened...

My immediate thoughts were Oh No! I just bounced my cell phone charge and will have to pay a fee for being stupid! I figured okay... I'll pay the $35.00 stupidity tax and remember that this happens on the same day EVERY month... again it's my fault! Here is what Bof A did to me...

Recall... In one day there were charges for

$3.45
$6.25
$62.00

In each case the money was deducted from my account as I made the purchases... reducing my available balance...

At the end of the day BofA takes the three events and applies the largest to the available balance first... even though the order they came in was quite different.

They applied my charges like this...

$62.00
$6.25
$3.45

By doing this "Most to Least" it caused all three events to incur a fee. In other words they maximize what they can get from you... So....after they tack on their fees...For doing nothing mind you...

My $3.45 Dunkin visit cost me $38.45
My $6.25 MacDonalds visit cost me $41.25
My $62.00 Phone bill was now $97.00

Had they applied everything in the order that it came in to their computers they would have made $35.00. Apparently that is not enough. My three charges netted them $105.00 - For doing nothing.

It gets worse...I went to the branch where I opened my account and asked about getting some of my money back. The branch manager acted like a trained monkey spouting of company dogma, and not caring a bit for my problem..He was rude, and he talked down to me like I was a child. No resolution, compassion etc. This is outright legal theft... because it is all spelled out in tiny legal mumbo jumbo when you sign the customer agreement... They legally take your money from you using a software program that maximizes the amount of money they can legally squeeze from you.

I switched banks!

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