weird bank of america charges. help!

[stella74]

You never know these days...maybe they're struggling to pay their mortgage.

[hers]

Well I know one of them lost his job a little while back. This was the first time I've worked for them since that happened. They're really nice guys so hopefully we work it all out.

[hers]

Well I know one of them lost his job a little while back. This was the first time I've worked for them since that happened. They're really nice guys so hopefully we work it all out.

[lavenderdove]

It sounds like what happened is they credited your account for the client's $150. Then when they processed the check, it bounced, so they deducted the $150 back out again (i.e., you can't be permanently credited with money you or the bank never actually received). The $6 must be their fee when a deposited check bounces.

 

If it is clearly written in their rules that they deduct $6 whenever you deposit a check that bounces, then you probably can't get it back. And of course the only way to get the $150 back is to contact the clients and get them to make good on the check. But i suggest you ask them for $156 since they cost you $6!

[lavenderdove]

It sounds like what happened is they credited your account for the client's $150. Then when they processed the check, it bounced, so they deducted the $150 back out again (i.e., you can't be permanently credited with money you or the bank never actually received). The $6 must be their fee when a deposited check bounces.

 

If it is clearly written in their rules that they deduct $6 whenever you deposit a check that bounces, then you probably can't get it back. And of course the only way to get the $150 back is to contact the clients and get them to make good on the check. But i suggest you ask them for $156 since they cost you $6!

[hers]

I don't care about $6, but I will tell the client that's the fee (I can't remember if it's on my contract about a returned check--it may be and I think I put $35 fee). I'm worried about all the overdraft fees b/c I've been using my card left and right!

[hers]

I don't care about $6, but I will tell the client that's the fee (I can't remember if it's on my contract about a returned check--it may be and I think I put $35 fee). I'm worried about all the overdraft fees b/c I've been using my card left and right!

[renaissancewoman101]

I don't care about $6, but I will tell the client that's the fee (I can't remember if it's on my contract about a returned check--it may be and I think I put $35 fee). I'm worried about all the overdraft fees b/c I've been using my card left and right!

 

If you have been using your card assuming that the $150 was in the account (because the check was supposed to be good), you might be out money in overdraft fees. With BofA, if you overdraft over the weekend, the charges are still "pending charges" so u won't get a fee if you put money (cash) into the account on Monday. Go to a branch to get that done so as to avoid the fees.

[hers]

I'll do it first thing monday. Will it count if I deposit cash in an atm by monday morning or should I go to the teller?

[retired1]

Teller! ATM could take 24 hours to post.

[renaissancewoman101]

I'll do it first thing monday. Will it count if I deposit cash in an atm by monday morning or should I go to the teller?

Personally, I would go to a teller. But then you can also deposit it in an ATM. Make sure there is a sign on the BofA ATM that the deposits will be posted THAT DAY. Usually there is a sign that says that "deposits made before 8 PM will be posted as of that day". Not sure if it is like that where u live though.

[hers]

Thts what the signs say here. I'll go to a teller first thing monday. I've got about 6 transactions out!! I can't afford $35 x 6! That's math I can't even do!

[retired1]

Yeah.. I'd run out of toes with that equation, too!

[thejigsup]

That would be $210. Get thee to a teller, pronto! Do not trust the ATM machine. I had a deposit get "lost" a couple of times. I never deposit with ATMs anymore.

[lavenderdove]

when you're talking to the teller, perhaps you can ask about an overdraft protection... you can sometimes get a protection of say $500 or $1000 that if you accidentally go over, it goes on account like a credit card.

 

it is good to get one of those in place, then forget that you have it (i.e., don't use it as credit, just for situations like this).

 

i would also tell your clients if you get charged overdraft fees, and ask them to pay the overdraft charges. they may refuse, but it's worth a shot since they are the cause of this problem.

[Miss Firecracker]

I would not spend the money until after the checks had cleared. Just assume all the checks are bad until after at least 10 days.

 

Either that or cash the checks.

[hers]

I've just never had a problem with payment in 2 years with anyone. I'm hoping if the bank won't give me the overdraft fees back that my brother in law's mom can. I can't afford $210 worth. Would my client be responsible for paying them, in a legal sense?

[renaissancewoman101]

If it is BofA, if you make sure to put the money back into the account tomorrow at a teller, it should be fine.

 

I've overdrafted with BofA where one of my auto pays does a draft and since it was still in the pending state, I went right to the bank and deposited money with the teller and that covered the overdraft before it actually posted to the account, so no fees were taken out.

 

In a legal sense, yes your client would be responsible for those fees since their check was the bad item that caused all the problems.

 

If there are problems, your brother in law's mom should be able to take care of them, if she is a higher enough up at the bank

[hers]

Some of the transactions are in the cleared state and just 2 are pending still. But no overdrafts have been applied yet. If I put money in by tomorrow morning, do you still think I'll be ok from OD fees? Even for the transactions that have cleared?

[renaissancewoman101]

With the transactions that have cleared, did those put you in an negative state? If not, then you are fine.

[hers]

Yea. 4 transactions cleared, all negative amounts. 2 pending still, still negative.

[renaissancewoman101]

That's not good. With the 4 transactions that cleared with the negative amounts, you are going to be hit with an overdraft fee for each one ($35/item I think). So, as of now, you have $140 in fees already that will post tomorrow night, irregardless of you putting money in tomorrow.

 

I think you should talk to your sister's mother in law and see if she can help you take off those fees. If she is high up enough, she can do it.

[hers]

Yea they're going to talk to her for me. I'm hoping she can take it off! I'm so worried. I have bills I have to pay when I get back tomorrow and I don't want to use my savings.

[lavenderdove]

If they haven't already charged you for the overdraft, perhaps you have overdraft protection already and don't know it, up to a certain amount like $500 or $1000.

 

Their policy may be to debit and charge for returned checks, but as long as you have an overdraft below a certain amount, they don't charge for it.

 

So you may be OK. I'd assume they'd already be charging you for the overdraft fees with each transaction, so if you don't see them, you may be in the clear on that.

[hers]

I've overdrafted before--i know I don't have OD protection. The overdraft fee has usually been deducted about a day later between since this was a weekend, I'm guessing it'll be applied tomorrow.