Charging over draft fee or charging to use the atm is a new vehicle being used by banks across the country to legally rob their customers. Many customers do not use paper checks today and the convince of debit cards has always been so the customer is UNABLE to make purchases if the funds are not available in the account. Now, we are being charged overdraft fees for withdrawing money from our savings accounts.
I am a person living on disability. When I opened my account at Bank of America it was offer to have a free checking account I should open a savings account with an automatic deposit of $25.00 a month. I opened the account hoping to save some money. This is difficult for me since I am on a fixed income from disability. After paying my bills I usually put the majority of funds left into my savings. Unfortunately, it has not been successful and I have to withdraw some funds from savings. Bank of America charges their customers $3.00 each time they withdraw money over the 3 allowed withdrawals. The Associated of the bank I spoke to told me the reason the bank charges me the "overdraft" fee is the point of a savings account is to save money.
If the point is to save money why am I being charge for and overdraft fee for withdrawing my own money from my savings??
If Bank of America is allowed to continue this incongible behavior towards their customers other banks are sure to follow or already implementing the same policies. We are the consumer and it is our money and service required for their businesses and banks to operate and make more. It is time for America to come together. Companies have forgotten, we the consumers keep their business operating.
Bank of America, we the petitioner demand that stop practices that are not in the interest of your customer and your business.