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So, I'm checking my bank account and I see that I failed my basic math check this last week and have some overdrafts.
However, I have 4 charges, but only 3 places where it shows that I went over, so I call up the ever-helpful people at BofA.
When I get through the automated system to a live person, I explain my situation, at which point she tells me how to check the balance history that includes funds placed on hold as opposed to the standard balance which only includes actual charges that have happened.
So, I get that part, no problem.
She then explains that the holds that were placed on the 5th are what cause the first overdraft on the 6th to occur, at which point I have an issue since those 3 holds on the 5th were also the other items that went through on the 6th and are responsible for the other 3 overdraft charges.
I try to explain that this should not be the case when she goes back to trying to explain how holds work. Which I understand and have acknowledged. She's convinced that I don't really understand and keeps trying to tell me the same thing over and over. At that point I (rather pissily and with bad grace, I'm afraid) ask to speak to a different associate.
She hands me off to a supervisor.
The supervisor starts to go the same route as the first associate when I stop her and tell her (just like I did with the first woman) that I understand how it works, and I can see, now that what the associate had told me about holds placed on the day prior was wrong. The supervisor actually stopped and listened to what I had to say, acknowledged that I was correct and said that she would speak with the associate regarding the misinformation she was giving.
So, the supervisor was decent and took the time to listen, for which I'm thankful (although I'd rather that the associate was right, so I could get those other 3 overdrafts removed
), but that associate really needs to work on her listening skills.
Just for clarity, the way it works is that as soon as a hold is placed that money is set aside and unavailable, leading to any further charges that actually go through that bring the balance below $0 to cause overdrafts, even if the charge based on the hold doesn't go through at that time.
However, at the end of every day, the holds are usually removed, leaving the actual balance and the held balance the same. I had had 3 holds placed on the 5th, but all of those were cleared at the beginning of the next banking day. Then there was another hold for another transaction placed prior to 4 charges going through. That hold was enough to cause 1 more overdraft than shows on the balance statement. It was removed at the end of the 6th, and the actual charge went through on the 7th, by which time my paycheck had hit, so I was back in the black.
So, if you use BofA and check your account online, you should take the time to look at the information found by clicking the "Account Balance History" link over on the left. It's more informative than the basic balance sheet.
^-.-^
However, I have 4 charges, but only 3 places where it shows that I went over, so I call up the ever-helpful people at BofA.
When I get through the automated system to a live person, I explain my situation, at which point she tells me how to check the balance history that includes funds placed on hold as opposed to the standard balance which only includes actual charges that have happened.
So, I get that part, no problem.
She then explains that the holds that were placed on the 5th are what cause the first overdraft on the 6th to occur, at which point I have an issue since those 3 holds on the 5th were also the other items that went through on the 6th and are responsible for the other 3 overdraft charges.
I try to explain that this should not be the case when she goes back to trying to explain how holds work. Which I understand and have acknowledged. She's convinced that I don't really understand and keeps trying to tell me the same thing over and over. At that point I (rather pissily and with bad grace, I'm afraid) ask to speak to a different associate.
She hands me off to a supervisor.
The supervisor starts to go the same route as the first associate when I stop her and tell her (just like I did with the first woman) that I understand how it works, and I can see, now that what the associate had told me about holds placed on the day prior was wrong. The supervisor actually stopped and listened to what I had to say, acknowledged that I was correct and said that she would speak with the associate regarding the misinformation she was giving.
So, the supervisor was decent and took the time to listen, for which I'm thankful (although I'd rather that the associate was right, so I could get those other 3 overdrafts removed
), but that associate really needs to work on her listening skills. Just for clarity, the way it works is that as soon as a hold is placed that money is set aside and unavailable, leading to any further charges that actually go through that bring the balance below $0 to cause overdrafts, even if the charge based on the hold doesn't go through at that time.
However, at the end of every day, the holds are usually removed, leaving the actual balance and the held balance the same. I had had 3 holds placed on the 5th, but all of those were cleared at the beginning of the next banking day. Then there was another hold for another transaction placed prior to 4 charges going through. That hold was enough to cause 1 more overdraft than shows on the balance statement. It was removed at the end of the 6th, and the actual charge went through on the 7th, by which time my paycheck had hit, so I was back in the black.
So, if you use BofA and check your account online, you should take the time to look at the information found by clicking the "Account Balance History" link over on the left. It's more informative than the basic balance sheet.
^-.-^