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I wrote a check and post dated it for the following day and asked the guy to whom I wrote the check to wait until the next day to cash the check(This was about 3p.m.). I went to Walmart (around noon, a few hours prior to writing the check) and made a $3.27 debit purchase. When I got home I checked my balance and the transaction from Walmart had cleared. The next day, the check had been posted (the guy went directly to the bank and cashed the check, urgh! Anyways, back to my story. Bank of America posted the check prior to my $3.27 transaction throwing my account into overdraft and charging me two overdraft fees instead of the one I should have incurred. When I contacted the bank, they told me they pay higher to lower debits. I told them I understood that, but the transaction for $3.27 had already been posted to my account before the check had even hit the bank. They also told me that post dating a check was useless because it was a legal document and the bank could cash it when they wanted. If it is a legal document, isn't is good for the date in which it is written? Anways, just wanted to give my two cents worth. I think it is wrong they switched the check and the $3.27 transaction therefore having me have two overdraft fees. The transaction from Walmart had cleared then they did the old swith-a-roo to get another overdraft fee. Bad Business!
By Jeff
