How Much is Bank of America Overdraft Fee?
The overdraft fee for Bank of America is $ 35. Since different banks have different policies on overdraft situations. At BoA, overdraft fees include overdraft item fees, overdraft protective covering fees, and non-sufficient funds ( or NSF : render item ) fees.
What is An Overdraft Item Fee?
At BoA, an overdraft item tip is charged when the total of a confirmation or a withdrawal exceeds the balance in the eligible check or savings account, and Bank of America pays the overdraft item anyhow. When it is determined that your bill is overdrawn after finishing serve for the sidereal day, and the transaction or transactions are paid by BoA, an overdraft detail fee of $ 35 per item over $ 1 will be charged.
surely, there is a specify upon the BoA overdraft detail fees. Personal/Consumer accounts can be charged a maximal of 4 overdraft item fees and return detail fees in a single day. Small business accounts can be charged no more than 8 overdraft items and returned item fees per day.
What is an Overdraft Protection Fee?
An overdraft protection transfer tip may be charged when a transaction overdraws your eligible discipline or savings account and, as a consequence, the available funds are transferred from your eligible linked overdraft protection bill to cover the come. We won ’ deoxythymidine monophosphate charge this fee for any detail that is $ 1 or less.
What is a Non-sufficient Fund (NSF: Returned item) Fee?
When you do not have enough available funds in your account to cover an item, and BoA declines to pay or return the detail unpaid ( a returned token ), you will be charged an national science foundation : Returned detail fee for each return item over $ 1.）
A promptly count at how a lot do other banks charge for overdraft fees :
Can I Get my Bank of America Overdraft Fees Waived?
$ 35 is not a minor sum. According to Forbes ( 2018 ), in 2017, American paid $ 34 billion in overdraft fees. If we can get refunded or waive blueprint fees, it will save us a set of money for certain. however, if you don ’ thymine ask, the answer will never be yes.
1.Call Customer Service
Calling customer service is encouraged to illustrate your situation and potentially ask for a refund. You can always dispute Bank of America charges and overdraft fees. In arrange to speak to a survive person in Bank of America customer serve about the overdraft fee, you need to dial 1-800-432-1000.
What should you say on the phone?
- State your purpose for the call
“ There was an overdraft fee bang of ( $ 000.00 ) on my account dated ( date/month ) that I would like to get a refund. ” – Give out the reasons why you should get a refund, RATIONALLY. Don ’ t blame on their overdraft system. alternatively, be nice and admit that you have some personal reasons that caused an overdraft. possibly you lose track of your account balance because you are outside of the United States, or a check issued a long clock ago recently got cashed. – Admit that it was your mistake, and politely ask whether there is any chance that you can waive it. possibly it was your first-time overdraft, or you have been with Bank of America for a while. Bank of American does refund overdraft fees case by case, so describe your circumstance with honesty and seriousness, and it is highly possible that you may get your money back.
Notice that Call Center hours on Monday to Friday are from 7 am to 10 autopsy, Saturday and Sunday start from 8 am to 5 autopsy EST. Otherwise, Live new world chat with Erica in the BoA app, the 24/7 virtual fiscal adjunct, may besides work in the same way .
If the call can ’ t get you a refund, don ’ t give it up.
2. If a phone call doesn’t help, try the following ways
- Schedule an appointment with BoA Specialist at your nearest Bank of America branch to talk in detail about your situation will be effective.
- Call Bank of America Executive Customer Relations: 704-386-5687
- Mail a general correspondence to Bank of America’s Tampa, FL location. Address your envelope to Bank of America, PO Box 25118, Tempa, FL 33622–5118.
- E-mail a Bank of America Customer Advocate:
Crystal R. Peterson Customer Advocate agency of the CEO and President 336-805-3126 crystal.peterson @ bankofamerica.com
Ways to Avoid Overdraft Fees from Bank of America
Despite $ 35 overdraft fee, Bank of America offers overdraft services besides.
- The Overdraft Setting: you can view and change how the bank handles your transactions when you don’t have enough money in either your eligible checking account or your linked eligible Bank of America Overdraft Protection account at the time of the transaction.
You can change your BoA overdraft settings by scheduling an appointment at a fiscal kernel or call 800.432.1000 ( Mon-Fri 8 a.m.-11 post meridiem or Sat-Sun 8 a.m.-8 post meridiem, all times ET ). Outside the U.S. bid 1.315.724.4022 ( international collect ; cell earphone roll charges may apply ) .
- Bank of America Overdraft Protection, an optional service you can sign up for that links your eligible Bank of America checking account to another Bank of America account, automatically transfers available funds from your linked savings or eligible second checking account, or credit card to your eligible checking account if you overdraw it.
How to set up BoA Overdraft Protection 1. On web site gestural in to Online Banking Click the Help & Support tab key, and then click More topics Select Checking, savings and debit batting order next blue-ribbon View/Edit Overdraft Protection 2. Contact BoA 3. Online Banking and Mobile Banking besides help you avoid overdraft fees. It allows you to access your account information 24/7 and helps you keep track of your report libra. You can always check your balance wheel on the Bank of America mobile app. It besides has alerts and notifications that allow you to receive electronic mail or text when there ‘s important bodily process on your report, such as a depleted libra.
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About Bank of America
Bank of America is the second-largest banking institution in the United States, serves approximately 10.73 % of all American bank deposits. It was acquired by the Charlotte-based NationsBank for $ 62 billion in 1998. Through a series of mergers and acquisitions, it built upon its commercial banking commercial enterprise by establishing Merrill Lynch for wealth management and Bank of America Merrill Lynch for investing bank in 2008 and 2009, respectively. Competing with Citigroup, Wells Fargo, and JP Morgan Chase, Bank of America primarily focuses on fiscal services of commercial bank, wealth management, and investment bank.
Website : hypertext transfer protocol : //www.bankofamerica.com/
Hours : Mon – friday 9 AM – 6 PM
Sat 9 AM – 2 prime minister Sun Closed