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New Bank of America Fees on MyAccess Checking Account

May 3rd, 2009

Bank of America has changed their MyAccess checking terms of service. The account used to have no monthly service fees but now there’s a $8.95 fee if you don’t have direct deposit with your account. Additionally, you can get charged up to 10 $35 overdraft fees in one day.

The overdraft fees are really outrageous. You could make 10 $.05 purchases in one day and be charged $350. That’s not right. They need a new system for calculating overdraft fees that takes into account how much you spend. I’ve never had an overdraft fee, but I’d like to think that my bank would have my back and be a little more understanding if I slipped up once.

personal finance

  1. Jaime
    November 9th, 2009 at 14:55 | #1

    Bank of America is not forgiving. I have been with them for five years. Had one check that was postdated and put through by mistake go to them. That check and two other charges bounced, because they take the highest charge out of your account first. $105.00 in overdraft fees. Went to the bank to explain, and ask for fees to be waived. Nothing! Asked them why they cashed a check that was dated for two days later than when they cashed it. Wanted to know how come I couldn’t bring my payroll check in two days ahead of time and cash it. Got no answer. A**holes. Switched to my local credit union that same day. Already soooo much happier.

  1. May 9th, 2009 at 21:30 | #1