Piggyback on Double Ay............
(deactivated member)
on 10/27/09 7:31 am - ~Somewhere in~, PA
on 10/27/09 7:31 am - ~Somewhere in~, PA
How do they bank on getting extra money in these tough economic times? They count on busy professionals like me to slip up and don't look at their accounts at what's being charged....and they also count on those *****ally don't take the time to balance their checkbooks they can make billions of dollars in nickle and diming folks in what I call stupid slip up fees.....
BINGO!!!!! 
worse than that - they are banking on those who live check to check to have an off moment.
The kicker for me was when my account at B of A racked up over $100 in overdraft - it was an account I ONLY used for debit purchases - but sometimes the transactions were without my PIN#. The way these work is they do an authorization to your account to confirm the funds are there - but the transaction isn't actually settled. The authorization drops off after 2 days - but the merchant has 7 or more to get the proof of purchase to the bank.
What does that mean? I buy something today $20 - the amount appears 'pulled' out of my account. I check my balance in 3 days - the $20 appears to be there as an available amount - so I go and ATM $20 in cash. That night, the merchant proof of transaction comes in - but that $20 is no longer in my account...... OVERDRAFT.........
The B of A rep told me point blank that the balance I see online or at the ATM is NOT my true balance at any given time - I have to track and write down my purchases to know what's really in there....... WOW....... now they HAVE the capability to settle based on the authorization and credit you back in say, 7 days if they don't get the merchant veriifcation - but then you'd only spend money that you have........
worse than that - they are banking on those who live check to check to have an off moment.
The kicker for me was when my account at B of A racked up over $100 in overdraft - it was an account I ONLY used for debit purchases - but sometimes the transactions were without my PIN#. The way these work is they do an authorization to your account to confirm the funds are there - but the transaction isn't actually settled. The authorization drops off after 2 days - but the merchant has 7 or more to get the proof of purchase to the bank.
What does that mean? I buy something today $20 - the amount appears 'pulled' out of my account. I check my balance in 3 days - the $20 appears to be there as an available amount - so I go and ATM $20 in cash. That night, the merchant proof of transaction comes in - but that $20 is no longer in my account...... OVERDRAFT.........
The B of A rep told me point blank that the balance I see online or at the ATM is NOT my true balance at any given time - I have to track and write down my purchases to know what's really in there....... WOW....... now they HAVE the capability to settle based on the authorization and credit you back in say, 7 days if they don't get the merchant veriifcation - but then you'd only spend money that you have........
I don't just have issues, I have subscriptions! I'm saving on the newsstand price....... 
Check out my dating mis - adventures at: http://1macdatinggame.blogspot.com/
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