I have a love hate relationship with my bank (bank of america). I love the fact that since I travel a lot for work, I can pretty much find a branch or at the very least an ATM if I need to withdraw/depoist money. This is the ONLY reason that I continue to bank with them.
I HATE bank of america because of the shady stuff they do with my money. When I was in college, I was pertetually overdrawn...dispite having both of my parents depositing money into my account. I could never get that dayum account in the black. i would check the account, items would have cleared, and I would have $100. I would go to the store and gas station, spend $50, and the next day I would check my account and would be overdrawn! I finally figured out that they would go back into the system and changing the order that items were listed (even stuff that cleared) for no apparent reason! I finally got smart and started saving screen shots from my online bank sessions to prove that they were messing with the balances and the items that had previously cleared. My parents had to get an attorney (a family friend) to threaten the them before they finally admitted that something not quite right was going on with my account and refund all the overdraft fees for the previous six months...which ended up being almost $1000!
Even now, I hav't bounced a check in years (knock on wood) but I'm still leary about BOA and thier practices. just last year I got charged two NSF fees when my account had several hundred dollars in it. I called customer service and went off on the poor rep that took my call but I was PISSED. She couldn't even tell me WHY i had the charges, they just magicly appeared. I had to march down to the branch and threaten the manager, but they removed them finally(and gave me a gift card to starbucks for my inconvience). I check my balances religiously online (which is SUPPOSED to be real time), and I balance my account every 2 weeks (its easier to keep up with that way for me).
What I don't understand is why banks (BOA in my case) use the fuzzy math stuff to begin with. And from what i've read on the net, BOA has had several class action lawsuits about these same exact things, one of which is going on now and deals with being charged NSF fees when your account is not overdrawn.
I'm really looking to change banks and just keep a small "travel money" account with BOA that I don't use for everyday stuff. I've already switched my savings to ING years ago, and I've been thinking about switching to thier money market account, but the "no checks" policy doesn't work for me (i at least want the option to write a check for just in case stff). Worse case seniro, I'm putting my money under the mattress!
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