That's it, I am closing my bank acct. today...

[FirstLight]

I know we have all talked at length about the evil banks and that we should just take our money out...

With all the electronic payments and interconnectedness of the web and our banking, it is just difficult to extract oneself. I was hanging on to this acct because it was the last vestige of 'normalcy' I had left. No other banks will give me an acct because of bad credit and ex-husbands getting me on the checking blacklist. So this acct was part of my 'road to recovery'
But today I am done. I am canceling all my online attachments to this acct, killing my paypal, etc.

Bank of America has swindled hundreds of dollars from me and my family for months. If my balance is low and I know a payment is pending and I deposit cash...they hit me with overdraft fees, pay the payment and THEN take the deposit and use that to cover their charges.
leaving me with negative balance, even though I put in money to cover my butt.
Last month, I even went so far as to ask the teller and the manager at my branch what they coould do to curb this since I am on a fixed income and play life so close to the vest... supposedly he did something in the conputer to make it so that I'd get rejected before an overdraft would happen(you know, the old fashioned way when you would get a call and have to go pay your check in person)
... nope, they just took another $70 from me!
So I guess I am going "off the grid"
nothing but the cash in my wallet and my foodstamp card
when will this end?

[Dawson Leery]

1. Banks are NEVER too big to fail.

Let them fail!

[coalition_unwilling]

2. Where does your income come from? I ask only b/c if you are

getting income by check, you will have to go to one of those usurious check-cashing places to cash a check.

[phantom power]

3. Apparently it won't end unless/until we all take our money elsewhere...

Clearly our fearless leaders aren't going to help.

I imagine you've tried getting an acct with a credit union?

[Pab Sungenis]

4. TD Bank just pulled the same exact shit with us.

Fortunately I'm still a member of the local Credit Union from when I ran my movie theater, and they're reactivating my account today so I can move what little we have left there.

[NeedleCast]

5. Soooooo...why not just turn off automatic payments?

If that seems to be the problem, why not turn them off and pay things manually, thus avoiding the overdrafts.

Look, I agree BoA is a giant corporate monster and it's only desire it to make money, but if I had a nickle for every post where a DU'er has complained about their bank doing this when it could have easily been avoided, I'd have enough nickles to load up a sock and beat some sense into them.

[xphile]

7. Making the deposit was the OP trying to avoid the overdraft. The bank

paid the payment BEFORE applying the deposit even though the deposit was made then applied the deposit AFTER taking the overdraft fee.

If the cash is deposited there's no excuse for this. None. Cash deposits should be instantly applied.

Unbelievable someone making excuses for this.

Edited to clarify

[NeedleCast]

10. Making Excuses For What? A Bank Doing Exactly What They Tell You They'll Do?

I can't speak for BOA but its in the fine print of my girlfriend's bank (I know, because I've checked) that they will subtract any debits on a given day generally before they add credits. Beyond that, OP KNOWS the bank is going to do this from past experience and continued to do it.

Again, it seems the problem here is the automatic payments, which the OP presumably set up. Why not just turn off automatic payments if this has been an issue even once?

I agree that cash deposits should be instantly credited to the account but OP knew the bank wasn't going to do that and continued to do it anyway and continued to get screwed. Kinda hard for me to spin up the outrage machine.

If you know the bank is going to bone you, know the particulars of the sitution in which you are going to get boned, and let the bank go ahead and bone you, well, who's fault is that?

[FirstLight]

15. point is

that some of us just have no cushion. and i have been trying to make it work for a long time now. You may not get it because you always know your balance or that you have that extra padding...

bank accts are not for those who live hand to mouth. and sorry if i seem to be morally indignant that this system even exists.
it's not just automatic payments, it's the fact that even when i check my acct before going to the freaking stor to buy toilet paper, it says i have $10 and pays the $3 for the TP...then the next day it says there was something pending, and that is an overdraft, all the other charges show up and i am in the hole again

[NeedleCast]

41. You Act Like You Have to Use Automated Payments

If you're living hand to mouth and need to be closely aware of how much money is in your account you shouldn't be using automated payments in the first place, just in case you have to be flexible on your payment schedule.

I'm not trying to be a dick to you, but the problem you seem to have is you, not the back.

If you have 10 bucks in your account and you guy buy 3 dollars of TP and FORGET that you spend money on something else that hasn't shown up in your online totals yet, that's your fault, not the banks. Its why some people still carry checking ledgers...so they can keep track of that sort of thing.

Banks are a bunch of greedy asshats. I don't question that. But when you give them the oppritunity, knowing full well what they're going to do, then you really don't have any exucse to be all outraged at the bank for doing exactly what they've done in the past and exactly what you know they're going to do.

Bank accounts, when properly managed, can work for everyone, rich or poor. You are not properly managing your bank account. That is your fault, not the banks fault.

[femrap]

60. When those Debit Cards

were introduced, I knew exactly what the banks were going to do. YOU HAVE TO CARRY A CHECKING LEDGER AND KEEP TRACK OF YOUR OWN BALANCE.

Hell, I'd write checks if they were free (which I get at my local bank).

I keep a ledger of all my credit card transactions so I know exactly how much I owe when the bill comes and I pay it in full. And I get cash back. I was raised by a mother who lived through the Great Depression...I'm living through the Greater Depression. And with my credit card, a portion goes to the National Indian Relief Council.

I don't use the credit card, however, when making purchases at small businesses because I know that increases their costs. But at, say Kroger, I'll charge $2.00.

Everyone has their own little 'quirks' when it comes to money. Money is an extremely emotional issue...people don't like to face that fact sometimes.

[pipi_k]

80. That's exactly what I do with

my own credit cards.

I write down everything I buy with them...what I bought, where, and the amount.

I keep a running total for each card, then when the statement comes in I check my register against my bill.

It also helps me to stay within my comfort range of what I want to spend each month because I generally pay the entire balance. I try to keep my spending below 33% of the cards' limits, too.

As for debits, I do the same thing. I have a notebook in which I write down what's been deducted, and all my transfers and deposits. I used to use my check register but had to buy a new one all the time when they got filled up.

[mntleo2]

77. They live off the poor most of all ...

...but in case you haven't noticed in order to pay for anything nowadays you almost have to go through them or a credit union. Some stores nowadays don't even accept cash, they expect to be paid by debit or credit and will even accept a check over cash, many utility and phone companies are the same.

When you are poor, you are penalized many times over because you have to live down to the penny in order to survive.

Hope this helps

Cat in Seattle

[Obamaforthewin]

63. Do you keep a register?

Sounds like you don't.

[mntleo2]

76. You go Grrrl!

...as an activist for low income people, I can tell you these banks are out to get what little you have ~ even using your poverty to take more.

In my state for instance Chase is getting on the average of $700,000 a month from the state (WA) for being a "service" for EBT users. Then they go in and take an addition $.85 for each time the user uses their EBT card. Worse when the user uses their system, they don't TELL the user this is being taken off with the "receipt" they give after withdrawal. This puts their take to over $1,000,000 PER MONTH for this so-0called "service".

Other banks in my state are making even more off EBT users, charging sometimes as much as $3.50 per use ~ and limiting the mount of cash you can remove, meaning that this way they can charge you again and again if you have to use their services.

If you can find one, go with a credit union as many of us are saying. I know you are hurting and these greedheads make it worse. They are PIGS and hate the poor while making money off them.

Cat in Seattle

[JustAmused]

22. Not true

My bank credits cash deposits immediately under all circumstances. That has been the practice at every bank I have ever used. I believe they do have a cutoff time however. I believe it 3 pm. Anything depsoited after that goes in the next day, but before that it is posted right away.

[bigmonkey]

26. In 1980 in Chicago I had a 24 hour wait for cash to "clear".

It's a long time ago, but still. Major bank. I put the cash in, and when I found I had made a mistake in my accounts and needed to remove some cash, that's what they told me.

The only consolation was that I was with a friend, and we had a loud conversation about what a lousy bank it was, I asked him if he knew of a better bank, he told me "the one across the street", and I announced that I was going over there to open an account immediately. Very satisfying, that part.

[SoCalDem]

37. Even with the modern accounting software, there is still a "time of day"

factor.. There is a daily cut off time, when ANY deposits are for the NEXT business day.. Fridays are tricky, because they process received "for payment items" over weekends, but deposits wait until the next business day.. It's there somewhere in the fine print

[mntleo2]

78. They often don't care ...

...they also use the, "you deposited a check, and we will not honor it until we are sure the funds are deposited into your account" crap. This is because the poor do not have anything to save and so the savings cannot "back up" the deposited money until it is posted. They even do this with government checks they know will be honored.

Been there done that ...

Cat in Seattle

[xphile]

35. Cash is credited to an account IMMEDIATELY. So if the cash is deposited

BEFORE the bill is due then the bank is robbing the OP as the cash was deposited before the bill was due to be paid.

There's no excuse for this.

[NeedleCast]

42. I agree there'd be no excuse for that

If that is what occured, especillay after OP talked to a bank manager about it, then I'd be pissed and go back to talk to the same manager to find out what happened. I'd be armed with my deposit slips and a printout of a online account balance for the correct time period when I showed up.

I very rarely deal with putting cash into my bank, so I don't really know for sure what mine would do. On the uncommon occasion that I deposit a paper check, I usually get 100 dollars credited right away and the rest goes in about 24 hours later.

[Contrary1]

6. My friend has been "off the grid" for three years now.

She is now using a reloadable debit card to pay for purchases. When she does happen to fall into a temporary job, she has them deposit her earnings into that account.

Took a bit of getting used to, but now she prefers it.

[FirstLight]

9. reloadable?

I haven't seen those... hafta look.

[pitohui]

54. reloaded debit cards cost a lot of money

a friend w. poor credit thought he would go that route

we still have free bank accounts available here, such as capital one, a person who can't even work well with a FREE bank account
because of their low income is NOT going to do well with these high fee reloadable cards

check cashing places, reloaded debit cards, pawn shops -- getting money the way people without bank accounts get money costs A LOT of
money proportionate to your income

the

[progressoid]

50. How can you be "off the grid" while using a reloadable debit card?

[freshwest]

82. Would be like using a pre-paid iTunes card, not dependent on name or SS#, credit, etc.

[progressoid]

89. But you're still part of the credit/banking system.

And according to what I have read, they'll still hit you with lots of fees for their service.



It's just a different flavor of the the same ice cream.


edit: this isn't the same article I read but talks about the problems of prepaid debit cards.
http://www.usatoday.com/money/perfi/credit/2011-01-18-prepaid18_CV_N.htm

[taught_me_patience]

8. It's going to be hard to live without a bank account

but if you can do it, good luck to you.

[FirstLight]

11. no harder than being broke BECAUSE of the bank

[closeupready]

18. Not true, IMO. Depends upon how much you use their services, but

I'm not finding the lack of a Big Bank account to be in any way difficult, personally. In fact, I'd imagine that on balance, less of my money is being used to pay service fees. Means more $ for me.

[FirstLight]

12. the analogy

of pulling out the tubes and wires and unplugging from the Matrix is feeling about right...

fuck this old paradigm!

[damntexdem]

13. find a good credit union.

And then keep a close eye on THEM.

[rurallib]

21. Second the credit union vote

[cutlassmama]

27. third the credit union vote. I don't have this problem with my CU

[anneboleyn]

28. Fourth the credit union. Ours is excellent, and one really does need an account.

First, I have no idea if the OP has any savings, but where would one keep large amounts of money taken from a savings account or retirement portfolio? Certainly keeping large amounts of cash around is not a good idea. I don't know how payments would be made either -- mortgage payments and other large amounts require a check. Getting money orders for everything is difficult and time-consuming (and expensive) plus this also requires carrying around large amounts of cash to purchase the money order.

[Shagbark Hickory]

14. You don't need to stop banking, you need to stop banking with the mega banks and start a relationshi

relationship- yes, that's what they're called, not accounts but relationships, with a local community bank or credit union. I do tend to favor the community bank however.
I know hundreds of them have been swallowed up in recent years but there's still lots of them out there.
They'd love to start a banking relationship with you and they don't give two shits about what comments B of A leaves on your credit report.

Find a bank where if you have a problem that cannot be solved by speaking with someone, you can literally walk right into the president of the bank's office for help. If you can't do that then the bank you're looking at is too big.

[FirstLight]

17. can't

Even the 'local' county bank won't have me, unless i have a big deposit to start up with or a cosigner. I am on the big black list and have zero credit...

i am beginning to think i will probably never be in a place to have that kind of life. It's just not possible.

[SoCalDem]

36. Have a friend open an account with YOUR name on the account as well

I did this with a friend of mine who had declared bankruptcy. I just gave her the extra Debit card so she would have two.. after a year or so she just removed my name from the accounts (checking/savings)

and it was a free account because we are over 55... Since I was the originator, it shows up on my online accounts, and I could access it if I wanted to.

The bank only wanted Driver's licenses to open the account.

Keep checking for local banks...

[laylah]

43. Dear, dear FirstLight...

:hug:

[relayerbob]

86. If your husband ran up your cards

and fried your credit, sue him.

[Drew Richards]

16. FirstLight

I understand and have great sympathy for you in regard to bank of hell...

Let me warn you of my 4 year ongoing problem...

I closed my checking with a plus balance in over draft...(i over paid to my over draft account by $37 dollars)

Instead of transferring it to my checking or sending me a check they have "locked" my closed checking account open with a zero balance and depleted the overdraft over pay with monthly fees. Needless to say lawsuit is going nowhere fast.

so...make sure of your balances and overdraft BEFORE you close anything...

Then don't give up on banking just please please please set your account up with your local credit union or family bank...You will be much happier and they will treat you like a person, not a balance sheet.

[Phentex]

19. Good advice!...

because they will try to screw you right to the very end.

[Donnachaidh]

20. Go to walmart and get a load your own card

$4 charge per month, and no overdraft nonsense. Yeah, Walmart is evil, but the store won't be hitting you with all those overdraft charges from the sort of voodoo accounting the banks utilize.

[FirstLight]

23. it's not hard to do... I've done it before

use a gift credit card for repeating charges (like my website $2.99/mo or something) or the reloadable option could be better.

any checks can be cashed at the issuing bank for a $5 fee (which is better than $35 overdrafts)

and mostly i live on cash anyway. TANF and foodstamps come on their own card, use it at the store as needed.

rent will be the hard one, have to get a money order, but that's not too hard. Again, a dollar charge there is better than the russian roulette of fees from the evil bank


It just amazes me that we are so programmed to think that we HAVE to have these things in order to be a "good citizen"
I have never been able to do this, been terrible with money all my life. I need to have it in hand to see what comes in & goes out.
But i wonder if the reason i have been so awful with money is because i have never made more than $17K (and that was ONE banner year)
and i have been raising 3 kids on handouts for 20 years... of course i don't know how to handle money! I've never HAD any!

But i am NOT goiung to walk in there being a victim. I will NOT let them make me feel wrong because I am Poor. I just don;t function in the same world as most other people do...it's just not my reality to have the things that most take for granted. I have to scrape by in my own way, and that's not wrong...it just IS

[anneboleyn]

30. What do you do with savings or a retirement portfolio? Large amounts of cash around -- not good.

I don't know how people live "off the grid" if they have savings or a retirement portfolio. It wouldn't be safe to keep around very large amounts of cash.

[MorningGlow]

38. What are these savings and retirement portfolios you speak of?

:shrug: ;)

[FirstLight]

39. Savings...? portfolio...?

:rofl:
you arent listening very well... I have nothing of value to speak of.
The only time i ever had a job that offered that was in 97... and the only time i made 17K a year was ONE banner year as a receptionist for a local electric contractor, and i couldn't even afford the benefits there either...

so, off the grid is a lot easier when you dont have anything to start with.

[femrap]

62. What if you used

'paper checks' instead of the debit card? How much would that cost you per month? You'd have a ledger and see your balance. Or is that difficult to do as well?

I'm old...I grew up writing checks. I never got a debit card because I knew the banks were going to f*ck people with them. They rely on the fact that people have difficulty handling money.

Money is an emotional issue....you seem to realize that.

But if you can reload for only $4/month at the Evil Retailer, it might reduce your stress. I hope so...and I wish you great prosperity in the future. This Xmas....hang a pickle ornament (not a real one, lol) on a tree....it's an old German superstition. The first year I did it, the next year brought me comfortable money....I was working at a 100% commission job and my sales came so easily. I stopped worrying about the money and focused on the person who needed to buy. Everyone was happy.

You need to find a way to take the stress out of money....and relax. At least you're in a beautiful part of the world. Such a relaxing environment.

[pipi_k]

88. Having money, not having money...

I'm not so sure that's a good reason for being good or bad at handling it.

My income now is like 1/3 what it was nearly 20 years ago. I'm way better at handling money now, and my credit is up in the high 700s to low 800s.

Back in the past I used to write out checks, then assume they had been cashed, so when I went to the ATM and saw my balance, I thought it was the correct number, only it wasn't, because some of those checks were outstanding. I was constantly overdrafting and getting hit with fees.

Now I don't do that.

Also, when I make a deposit or transfer to my checking account, I usually record in my register that the deposit/transfer was LESS than what it really was. So in other words, if I didn't pay attention to the ATM amount, but looked at my checkbook, it would say I have, for example $325 but I would really have $350. A $25 "cushion", so to speak.

[Blue-Jay]

24. You're going to need a new mattress.

Or a bigger coffee can.

[FirstLight]

25. you know it baby!

;)

[L0oniX]

29. They don't call it Skank of America for nothing.

[greenbird]

31. We just finished moving our money

from Bank of America to a local bank - mortgage, checking accounts, everything. It feels so good to get away from those bastards. They just lost the service of a mortgage that has been paid on time for 20+ years, purely out of principle.

I know from my single mom days that their overdraft practices are really shitty, so I feel for you.

[Lance_Boyle]

32. You don't get blacklisted for checking accounts on someone's say-so.

And you don't get bad credit through no fault of your own, either. Sounds like you need to accept ownership of some of the problems you are facing.

[FirstLight]

40. you don't even know

let's not talk about ownership, a lifetime of poverty and scraping to survive, an abusive ex husband and fleeing with kids for our lives, and yes, he ruined my credit and our checking acct...he was even one of those guys that local bank banned from coming in there because he scared the manager...

so you can just shut up, thanks

[roody]

61. Maybe you can use a non-local credit union.

I use Christian Community Credit Union---even though I am not a Christian.

[Capitalocracy]

46. I got blacklisted on ChexSystems because I overdrafted from an ATM

after checking my account balance, which said there was money in the account, and after expressly telling the manager of my local Bank of America that I wanted NO OVERDRAFT protection.

So no, it's not always the consumer's fault.

[Highway61]

33. Oh Yeah

I noticed a $14 a month fee a few months ago. I called them up and while going through voice jail I finally got a person who told me the fee was for using a teller when I deposit my paycheck weekly!! If I used the ATM for my check deposit I would eliminate the fee. They removed the fee from my statement and now I have to use the ATM for my deposits. WTF. I ONLY stay with this skank bank for the convenience of their large ATM network. I have since moved most of my money to a credit union. Yeah, they suck.

[LadyHawkAZ]

34. BofA is notorious for this shell game

has been for a long time. It's why I quit banking with them.

[RebelOne]

44. I have been with Bank of America for many years

and have never had any problem with them. Just once, I had overdrawn my account (my bad math) and I called and the overdraft charge was canceled. Another time, due to my own stupidity, I left my bank card in the slot after a withdrawal. The person behind me drew $100 from my account. The bank reimbursed me. So I have no complaints with BoA.

[Capitalocracy]

45. Check the good banks list... the ones that don't use ChexSystems

Google it, they'll probably give you an account.

I wouldn't recommend closing your account until you can open another one. Bank of America screwed me too, and now I'm having a hell of a time getting a new account open, and I need it in order to work. But my situation is a little different.

[truedelphi]

47. I last had an account in Fall 2007 - and

I found out that my local grocer's cashes any checks written to me if they are local.

If it is a tax refund or large check from someone out of state, I can usually go to Pay Day place, and although I don't like the 2.5% I am charged, at least I have my money. And they treat you very nicely - unlike the banks, where they can be positively snotty.

Banks want you to get a $ 20 checking account, and then they make you wait three days for the money. I just want my money.

[GreenStormCloud]

48. I have been with BofA for years with no problems.

Every day I log into my account and check the balance and balance it against Quicken. On a Word page I keep a list of ALL up coming expenses. If an autopayment is comin out on a date then I enter that into Quicken when my paycheck is deposited. No I am not rich. Right now my Quicken checking account balance is $3.91 but the bank says $87.00. There is an outstanding autopayment of $83.09 that hasn't hit yet. So I know not to spend any of that $87.00.

If you do your bookkeeping carefully and daily you won't have any problems with the bank.

[freshwest]

51. No problems with them here either.

[JVS]

49. I don't make much money, but I always spend less than I make and I leave a...

cushion of a few thousand in the checking account because I don't feel like balancing the checkbook. My bank kisses my ass whenever I walk through the door.

Now I understand that there are some situations where people really can't get two extra nickles to rub together. But if you can create a float of 500 and add to it a bit each month, it makes life so much easier.

[thanks_imjustlurking]

58. True, if there's any way you can get that cushion

it makes most of the rest of the crap go away. Of course, the bank is making interest on the aggregated cushions, but what are you gonna do....!

[bobbolink]

52. I'm sorry you are going through all of this. It is just evil.

I don't have anything helpful to say... just
:hug:

[eridani]

53. Please check out credit unions. Banking services are usually way overpriced for

--lower income people, but many credit unions have programs for the "unbanked."

[defendandprotect]

73. We've been really happy with the change -- and would recommend it to anyone!!

Dump the banksters!!

[Dyedinthewoolliberal]

55. That's not happened to me but

I too recently closed my account with BofA after almost 20 years. When asked why I explained it was the only way I could protest the fact BofA gets tax breaks while the state budget gets cut due to lack of revenue.....

[FirstLight]

56. credit unions...

There are none in this town, too small. the local banks are regional/countywide and they said no to an acct.

as much of a pain in the ass that it will be having to do things manually, its my only choice.

glad many of you have credit unions, but that is just not an option, thanks

no...it's better this way, less of me to track, right? you know, i guess if i apply for a job that runs credit checks, i am screwn anyway...

[femrap]

57. Good for you.

Is there a Credit Union you can join and get a checking account? BofA is the worst. How about a small local bank?

Ex-husbands are a drag when it comes to $.

Good luck!!!!

[badgerpup]

59. I switched to a credit union...

...because their interest rate on the VISA was half of what the bank was charging.
They allowed me to do a balance transfer. :woohoo:

I pay my bills by CHECK...yep, siddown, write out the check, put a stamp on the envelope and take everything down to the post office* once a month. Only thing that's automatic is my car insurance, and it really was more economical to do it that way.

Gives me more control over what's going on with my account. :thumbsup:


* saw a TV program a few years back..."check washing".
Nasty-ass people swiping stuff right outta your mailbox, 'washing' everything but your sig off the check and then going to town with your signed, blank check.

I take most of my outgoing mail right to the post office.

[mountainlion55]

64. My next door neighbor walked away

from his BofA owned house about a month ago. I talked to him about his move and he told me he does not care its B of A's problem and left. He moved downtown and is now renting a small one bedroom house. This happened out here in Cali. Our economy has been trashed out here. All these too big to fail banks need to be broken up and strictly regulated because IMO money is the root of all evil.:smoke:

[defendandprotect]

72. We have anti-trust laws which haven't been used since ...... goddess knows when!!

[SHRED]

65. Two words: CREDIT UNION

[neoralme]

66. Bank America should not even be in business anymore, and soon

they may not be.

[Autumn Colors]

67. Talk to the nearest credit union

I've found that they are very understanding. I'm going through a foreclosure now and will be moving to a new area later this year. The people at the credit union in my current town have been great. I've been up front about everything going on.

Even better, though....

To prepare for my move, I opened a PO Box in the new town and the PO is right next to the credit union. I stopped in there to see if it might be possible to open an account there with just the PO box address even though I'm not technically living in one of the towns in their service area yet. I explained what was going on with the house, move, etc.

The rules are that you have to either live, work, go to school, or worship in one of the towns in their service area.

Her reply? "No problem. Just list "worship" as the membership qualification and make sure when you pass through town, you pray that your housing situation gets resolved soon."

LOL ... I bit my tongue and didn't tell her I'm an atheist.

EDIT: I had to also supply my current street address and agree to change that after the move.

Really, find a credit union. They are NON-PROFIT and when you open an account, you become a shareholder in the CU.

[joanbarnes]

68. I have always used a credit union.

YOU are part owner, all the same benefits and conveniences. Once a year THEY PAY YOU a portion of the profits as a shareowner. You don't have to have perfect credit.

[blueamy66]

69. Hey, I hate BofA as much as you...

and I use them, only because I am too lazy to switch accounts..but

they have always ran my deposits through before any debits, checks, etc.

I REFUSE to sign up for any automatic payments. We live paycheck to paycheck...I will not let anyone take $ out of my account unless I authorize it that minute.

[freshwest]

81. Same here. Won't bank online, either.

[defendandprotect]

70. Unregulated capitalism is merely organized crime -- move on!!

Your not alone in suffering these charges --

My son's account has suffered some of this --

$70 would buy a lot of postage stamps!!

Good luck to us all!!


Obviously, however, Obama, Dems and Repugs all know what is going on --

and they're permitting it to happen!



Rightwing Koch Bros. Funded the DLC --

http://www.democrats.com/node/7789

http://upload.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x498414

If you knew about this, why didn't you tell us?

If you didn't know, pass it along -- !

:)

[colorado_ufo]

71. For cryin' out loud - get a better bank!

BofA is just awful. (And if you think their banking is bad, I have horror stories about the credit card that I had with them.) Do a little shopping, check on bank policies, and move your money where your business is valued.

We consumers need to recognize the power that we have.

After using a number of banks and credit unions, large and small, I settled on US Bank. They have been very good to me over the years and have superior online services (so I always know my balance), download to Quicken, have several forms of overdraft protection, are clear about their policies, offer many free services, great perks for seniors, etc.

Let me state emphatically that I have NO business or personal connection with US Bank. I have just used them for over 20 years. They have been good to me, and they deserve a referral.

[mntleo2]

74. Also try a credit union ...

...while they still charge fees for overdrafts and other things, you can actually go to one of their meetings where you are a VOTING MEMBER and can give your proposals and 2 cents. Their debit cards and checking is often free. If they have fees, they are usually MUCH less than a commercial bank. They are usually small and often quite willing to work with you about those overdrafts, at least my credit union is.

You do need a real bank account, because often it is your "other ID", and (I am not making this up) some stores are not even taking cash anymore. Take it from a low wage worker, former TANF and GA recipient, I have found the food card is not enough.

Hope this helps ...

Cat in Seattle

[pipi_k]

75. Don't know about the larger banks, but...

My little neighborhood/regional bank lets me know when my deposits/transfers will be available for withdrawal.

That makes it relatively easy to time my payments. I know when the money will be there, according to their records. Then I use it. I also know what day my payments will be deducted from my accounts.


Do the larger banks not do that?

[jerseyjack]

79. Possible solution with B.o.A.

If you deposit the money with a debit card before 8 p.m. the money is supposed to be available to pay debited checks and drafts.

[sce56]

83. Try Credit Unions!

They work for you!

[LuckyLib]

84. Too many of us expect human responses from these corporate machines, i.e. if I go

to my bank they can make this work (for me). They won't and can't. It is a system that is set up to maximize their profits. It's not the old fashioned community bank where personal contact will get you some results. You are going to be nailed if you violate their very tightly designed "rules". Know that. Plan on that. Avoid it.

[QED]

85. They sent my account to collections AFTER I went in to close my account

I went to my branch to close my accounts after I had my account established at a credit union and knew everything was up and running smoothly. I asked if I owed them any money. The banker person said no, in fact they owed me $4.20. Two months later I got a notice from a collections agency that I owe BofA some $26 for unpaid fees. WTF? I need to drag myself in to the bank and get them to take care of it and delete the entry from my credit report.

Meanwhile my credit union is working out great and I highly recommend switching to one.

[jhasp]

87. Some suggestions

Hi FirstLight,

Your situation stinks. Unfortunately, unless you are paying fees, you aren't a profitable customer for BoA. Banks make their money from you by either lending your deposits out to others (you don't have enough deposits to lend out), lending you money (you aren't doing that either), or charging you fees (bingo!). If you aren't paying fees, your account is a drain on the bank since your transactions cost the bank money. By law (Community Reinvestment Act), the bank can't deny you an account just because you aren't profitable, so they hit you with fees in the hopes that you'll either pay the fees and be profitable or leave the bank. They don't have a motivation to keep you happy.

I use to work for BoA and this is their mentality. Here are my suggestions:

1. Work toward opening an account with USAA. You can find out about them here: www.usaa.com. It's commonly thought that USAA is only for military members and their families, and many of their services are, but that restriction doesn't apply to checking and savings accounts. If they won't open an account with you immediately, call them and ask them why and how you could get into a position of having an account with them. They are non-profit and extremely well-known for their excellent customer service.

2. You stated that you have some problems with CheckSystems. Some people on here have badmouthed CheckSystems. However, CheckSystems isn't the problem in this case, your ex-husband is. If you have outstanding overdrafts out there (your fault or not), work on clearing them up. Call the banks that the overdrafts are with and talk to them about your situation. I know that money is very tight for you, but if you can, make them an offer on what is owed. Remind them that you already have an account with BoA (keep your account there until all of this gets cleared up) and so having this out on CheckSystems isn't really affecting you. CheckSystems is the banks' leverage to get you to pay off those overdrafts.

3. Work on fixing and improving your credit. Go to www.annualcreditreport.com. Once per year, you can get a free copy of each of your credit reports. Go through them with a fine-toothed comb. If there are any accounts opened without your authorization by your ex-husband, call the creditor and the credit reporting bureau and get it fixed. The Fair Credit Reporting Act governs this and they have to fix it or you can get a nice payday. If there are outstanding debts that need to be paid, contact the creditor and make an offer to them (again, I know that times are tough, but they'll often take pennies on the dollar). Consider starting out with a prepaid credit card to start building your credit back up.

If you would like any more details about any of this, please PM or e-mail me.