Bank of America

BANK OF AMERICA, INC ONLINE BILL PAY SERVICE Internet

13th of Sep, 2011 by User994210

Be Careful using Bank of America's online bill pay system. When you schedule a paper check to be sent to a company or individual the system picks and chooses when the funds will be debited out of your account. And it sets you up to bounce checks or have returned items if you have payments scheduled for next day. Example sometimes the funds on a paper check are debited off your ledger balance the day the vendor is suppose to recieve the check via US MAIL. Now mind you the check might not even come in the mail that day , nevermind the recipient actually cashing it that day or presenting it for deposit. Other times the check clears when the item is presented for deposit at the vendors bank. It seems like the only time the funds are immediately withdrawn is when you have other bill pays scheduled for next day, that could potentially bounce. Obviously Bank of America wants you to bounce a check so they can collect on a return item fee. This is so shady! It should be a set way , if funds are going to be withdrawn the day the vendor gets the paper check than fine. But it really should be when the payee presents the check for deposit. Bank of America has their online bill pay paper check system setting you up to fail. They are withdrawing funds from your account before the paper checks are presented for deposit in hopes that you bounce next day scheduled payments. This is so wrong and really shady to make more money on returned item fees ! BE CAREFUL USING ONLINE BILL PAY SERVICE!

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