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Sep 21, 2006 -- How the BOA blunder went down

By now, you’ve probably heard the story of the San Francisco man who was arrested and jailed when he tried to verify the validity of a check at Bank of America branch. Clark found out about this story recently and today talked with the man, Matthew Shinnick, who spent about $14,000 in legal fees to clear his name. It all started when Shinnick posted two bicycles for sale on Cragislist and received a check from a man for more than the cost of the bicycles. He went into a BOA branch to see if the check was legitimate and verify that there was money in the person’s account. The check was drawn on a BOA account. The teller told him it was a valid account, so he cashed the check. At that point, BOA employees called police and Shinnick was arrested on fraud charges because the check was actually fraudulent. Matthew had no idea that the real criminal had used the name of a legitimate company to fake a check. So, Matthew sat in the bank branch for hours while police figured out what to do with him. Then, they took him to jail where he spent the night. Once he got out and a judge let him go, he had to clear his name legally so the arrest would not come back to haunt him. He had to hire attorneys to do this and it cost him nearly $14,000. He then went to Bank of America and asked that the bank cover his fees because it was the bank’s error. But BOA turned him down. This kind of treatment sends the message that banks only care about their bottom line, not about their customers. It's unacceptable and Clark thinks it's time to fight back.

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What others are saying

  • BOA & Fees
    BOA does only care about their bottom line. If you're not a profitable customer, good luck getting your fee waived. Pay in full each month? You will not get a fee waiver, and asking for a supervisor? Won't make a difference.
  • Want some whine with that cheese?
    I just love to read these stories from folks who feel so "wronged" by their bank. Do you honestly think we believe that you were only overdrawn $7 and now have $245 in overdraft fees? Your story just doesn't make sense. Only you can balance your checkbook and know how much you have in outstanding charges and checks at any given time. If you can't manage a checking account then you probably shouldn't have one!
  • Overdraft fees.
    I was overdrawn 7 dollars and some change, and the service told me that if a deposit was made before a certain date, there would be no overdraft fees. Long story short, I now have $245 in overdraft fees. Have tried to explain the situation several times to bank reps, and have basically been called a liar. Absolutely the biggest most blatant example of fraudulent behaviour I've ever seen. Take your money and RUN...somewhere else.
  • Remember credit cards for Illegal aliens?
    This is the same bank that offered credit cards and loans to Illegal aliens a while back. That's one of the big reasons why they had so many bad loans and needed bailed out from citizens of this country. I think Bank of America is just plain evil.
  • BoA sued because of overdraft fees
    If you were a victim of BoA's policy of running through larger items before smaller items in order to intentionally cost you bounce fees, then go to this website and fill out the online form BEFORE May 1, 2009. You will get $78 from this class-action lawsuit. If you miss the 5/1/09 deadline, you get nothing, ever.
    http://clossonsettlement.com/index.htm
  • BOA strikes again
    Yep,they got me too. I have an account with them that I pay using online bill pay. The account was due on Sunday, so I paid on Friday. Their account, their bill pay system. They posted on Monday, charged me a fee and raised my interest rate by 13%. Needless to say I am reviewing other banks to move my accounts to.
  • The 2 o'clock Hour and the Overdraft Fees
    I switched to BoA due to location of a new job. I thought they were under the same procedures as our old bank. But no, we soon found out that any deposit made after 2:00 was not valid until the next business day. However they can have withdrawals made after 2:00. That was our situation and we had overdrafts ($35 X 7) because we didn't realize the deposit couldn't be used. BoA wouldn't refund any because their 2:00 rule was official. We've also had problems with the highest amount of check clearing 1st and then several after that cause overdrafts. Instead of 1 overdraft, if they did it in order of actual clearing, they charged for all. They could care less about customer satisfaction and only concerned about their profit. Take your money and go else where!!!!
  • Common Sense??
    I have had an account with BOA for over 5 years. I made an error in my accounting, missing a check that my wife wrote. The check didn't post for several days and on the day it did post, there were 6 other charges (most under $10). BOA (per their own policy) posted the largest transaction first, giving me 7 overdraft fees of $35. No one will reverse any of the fees for me (I would expect a fee, but 7?)! This policy was explained by a local bank manager that they post largest first so you "house payment" would always go through. This is a STUPID statement as the always pay all transactions to collect the fee. This may not be illegal but it is very unethical and BOA has lost a customer for life.
  • It's not the bank fault
    This could happened at any banks.
    The fact was this guy trying to cash a bad check! If he only deposit the check to his account. It wouldn't happened.
  • you'll like this one.
    I'm guardian of my parents and while the bank has refused to help me access their account (6 times) to pay bills, they did update the address and phone number on their credit card and called me telling me I had to pay them out of my own money for "my" credit card. They also in the statements said a phone payment was made to the credit card but one is in a coma and the other is in a locked ward with no phone access. Also I was informed they don't have to follow state laws because they are a national bank.
  • Finally FREE from BoA
    Did you know that BOA not only 'blacklists' customers who's accounts generate fees, but have an AUTOMATED system that bank managers must refer to for ANY reversal? Even if clearly the BANK's Fault, the 'computer won't let' them reverse the fees! Check it out!
    Drkcv@yahoo.com
  • B of A
    I have closed all my B of A accounts. The people that run this bank are just plain greedy. What goes around comes around given the news today about B of A. It is unfortunate that regular people have invested in this Bank.
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