Quote:
Originally Posted by shakran
This is a common practice with banks. They stack the day's charges in order of amount from highest to lowest. That way 10 transactions that should have only overdrawn the account on the last transaction end up overdrawing it on 9 of them, and they get to charge you beaucoup fees. Even better than that, let's say you start with that 10 bucks. You withdraw 9, then deposit 20 in cash and withdraw another 19. They'll stack it so that the withdrawals are processed first, overdrafting the account, before the deposit. It should be illegal.
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Yeah, this is spot on, as well as shakran's later mention of
The Consumerist: Shoppers Bite Back. You can learn a lot from that web site, and not just about banks. I read it daily, if for no other reason that to remind myself on what NOT to do for my customers.
I suggest calling the bank and complaining. The worst they can do is say "no" and you'll have wasted some time. At best, they may waive one or both of the overdraw fees. If you feel unsatisfied, move your account elsewhere - which is probably a good idea since BOA isn't the most customer friendly institution out there.