Bank of America adopted a new policy on overdraft

United States
May 25, 2011 3:40pm CST
It is great to hear Bank Of America actually taking the customers' benefit into their consideration. With their new overdraft policy, they won't simply automatically let the transaction pass through even though the customer doesn't have enough fund in their checking account. They would decline the transaction first, then text the customer to notify them that their account doesn't have sufficient fund for this transaction go through. If they would like to continue this transaction, there will be a $35 charge penalty to their account. That sounds much fair, don't you think? Because they give you an option and letting you that you don't have money. If you, as a customer continue on with a penalty charge, it is a fair market. It is always your choice.
1 person likes this
2 responses
@KrauseHome (35517)
• United States
20 Aug 11
Personally to me this sounds like a Valid practice, and a lot more places, including Banks, Credit Cards, etc. could learn from this practice. We are the consumers who are in charge of paying all of this back, so why should we not have more of an option what extras we have to pay them as well.
@stephcjh (32327)
• United States
25 May 11
My local bank does this too. They will charge an overdraft fee but they will still pay the bill for you so the payment gets paid on time.