So my bank account is $287 in the deficit and will keep rising every 5 days according to this message from Bank Of America.
Accounts overdrawn for 5 consecutive business days are subject to an Extended Overdrawn Balance Charge. This charge is in addition to overdraft item fees which continue to apply. To prevent this Extended Overdrawn Balance Charge, deposit or transfer available funds to bring your account balance positive within 5 business days from the date your account was originally overdrawn.
I’ve written the following letter to them, not because I expect them to help me, to stop the fees or to reverse the fees they have charged over a $28 deficit:
I get charging me $35 for the 1 item that caused my account to go into overdraft; but to charge me $35 every 5 days is a different story. I owed a bill for $137 but had only $109 on the bank. You paid the bill. I should owe you the $35 overdraft plus the $28 you paid on my behalf for a total of $63. Instead I owe you $287 because, by the time I logged into my account the next day you had already charged me $35 4 times, bringing my account deficit to a figure I had no money to pay, and you have been applying fees since and have my account set to keep applying fees every 5 days for as long as I remain unable to pay or you close my account due to my negative balance.
With the exception of the bill that caused my account to go into the deficit, when I paid my bills I had funds available to cover the payments and I did not go spending the money without regard to the fact that the funds were for bill payments already issued. Only 1 bill which was processed for $137 was processed while there were not sufficient funds available. Yet somehow you have managed to charge me overdraft fees for bills paid when funds were available which remained untouched while processing was pending completion.
I want to know how I am supposed to pay this $287 which, clearly from your emails will be going up by $35 every 5 days. I don’t have this money so what am I supposed to do? Obviously the higher up it goes the more impossible it will be for me to pay it. What are my options here?
I’ll tell you quite honestly, between Bank Of America and my lying husband I’m not loving living right now. No doubt when they reply, if they reply it will be to tell me to call their 1-800 number so some rude customer service rep can tell me there’s nothing they can do about it because it’s my fault that I’m faced with having to pay them hundreds of dollars for falling $28 short on a bill they were kind enough to pay on my behalf.
