Anyone have any tips for getting BOA to waive overdraft fees? And/or any advice on convincing them not to let me spend money I don't have
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Anyone have any tips for getting BOA to waive overdraft fees? And/or any advice on convincing them not to let me spend money I don't have?
It's not a direct answer to either of those, but it may help reduce overdraft fees... Do you have any form of overdraft protection on your account? If not, is there a way you could set up a savings account (even depositing a little at a time) to use as overdraft protection for your checking account? If you have that available, sometimes then the overdraft/automatic transfer fee is less than it would be for a straight overdraft with only the checking account.
The only problem is that BOA has crappy checking account options. You have to have a minimum balance of $200 at pretty much 0% interest (it was 0.5% when interest rates were around 4% at places like ING) or you get charged maintenance fees.
Yuck. I'd also look into switching out of BOA, in that case. I don't have a minimum balance for checking, and I only have to keep $25 in my savings account to avoid fees.
Tip in case you have BOA too -- if you have the MyAccess checking (rather than the plain checking) and have direct deposit the maintenance fee is waived.
Another quick tip then, in case you are still using a BOA savings despite their crappiness: The interest rate will still suck, but the maintenance fee is waived if you set up an automatic transfer of $25 or more per month from your checking account. If you don't always have the $25 to spare, you can also set up an automated reverse transfer of $25 from savings to checking for the same day. We have both set to happen the day after payday ;)
It's not a direct answer to either of those, but it may help reduce overdraft fees... Do you have any form of overdraft protection on your account? If not, is there a way you could set up a savings account (even depositing a little at a time) to use as overdraft protection for your checking account? If you have that available, sometimes then the overdraft/automatic transfer fee is less than it would be for a straight overdraft with only the checking account.
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I have the same checking account you do and have no complaints about it but the BOA SAVINGS accounts are crap. ING is a much better deal.
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