August 23, 2007

in the red

Let me just start by saying I have always been incredibly responsible with my finances.

And without getting into too much detail, I TOTALLY overdrafted my account last weekend.

By $2500 dollars.

Yah - it was the furniture.

But in my defense, I HAD the money. It was just in a different account. It only needed to be transferred. I made said purchase on a Sunday. NOTHING clears on a Sunday. NOTHING clears same-day...

Curses to my overly efficient bank and pending purchases memo-posts.

So, probably the 10% off that Sofa Express gave me, plus some of the free shipping I scored, was eaten up in the $100 of overdraft fees initiated by my bank.

I understand. I completely deserve it. It's cool.

But I'd like to state a couple of things for the record:

I'd like to thank my overly-efficient Bank of America for being so underly-concerned about the fact that, in my entire tenure of banking with them, I have never made such a large purchase, no had I EVER overdrafted my funds. You'd think they could have at least made a courtesy call to ask if it were possible that someone had stolen my debit card. I've also heard a lot banks will call their members if they see funds being withdrawn from overseas. But out of the 20+ times I used my debit card in Panama, I received zero of these alleged phone calls.

Other BoA beef: once I feared my checking account info had been phished by an unidentified third party. So I called BoA, explained my situation to at least 4 different people, and no one took me seriously until about an hour into the phone call.

And while I'm at it, there's more:

Several times a year I get mail from BoA saying if I do such and such I will receive gift card for $25 or so bucks... Two or three times I participated in these promotions, and each time I would wait for my gift card. And wait. And wait. Still waiting... until eventually I would have to make a phone call, to which no help is received. To which I go down to my neighborhood branch, complain MULTIPLE times face-to-face with "customer service", and then and ONLY then would I receive a credit to my account in the promised amount (that was originally supposed to be a gift card).

When it comes to my bank, I feel so...faceless. And that is a sad thing indeed.


At 4:25 PM, Anonymous Pop C said...

One of the things banks like about debit cards is that they are "instantanious"(sp). Once you swipe the card and enter your pin everything happens electonically, imediately, with no human intervention required. I guess to them it is better then you spending cash!

Another of life's lessons learned?

At 11:04 PM, Anonymous john h said...

time for a new bank!

At 1:41 PM, Anonymous Anonymous said...

I agree with JohnH, you need a good credit union to get the kind of virtual respect you're looking for. Even then, its iffy...
Love ya, Dad :-)

At 5:05 PM, Blogger Ellyn said...

3 great banks--Navy Federal Credit Union, BB& T, USAA! We have accounts at all 3! We have all of them for different reasons and LOVE them all!

At 9:37 AM, Blogger Michael said...

I agree with those who say it's time for another bank.

Not all big banks are bad..though I'd warn you to steer clear of Wachovia (their c.s. is zilch) and First Tennessee.

Less than positive experiences with both institutions.

At 10:38 AM, Anonymous DB Carden said...

Our credit union is great. We had a situation like that a few months ago. We have overdraft protection but the account used for overdraft protection was dry at that particular moment. So, the credit union simply tapped one of our other accounts to cover the charge, no questions, no problems. They know us and know our kids' names. We have had probably $10 in total fees since we opened our accounts 10 years ago and they were all for money orders or other such weird stuff initiated by us.

Being a family member, you are eligible at our credit union....just in case you decide to change.


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