How does Bank of America decide to pay or return a check presented on insufficient funds?
Stephen S asked:
I bank with Bank of Ameirca. In the past I have had checks posted with insufficient funds in the account. They usually pay the amount and overdraw my account as well as tack on the $35 fee. I have also in the past had them return the check charging me the $35 fee and then having to pay the store a returned check fee as well. How do they decide what to pay and what to return?
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on Monday, January 18th, 2010 at 12:00 am and is filed under Personal Finance.
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I bank with Bank of Ameirca. In the past I have had checks posted with insufficient funds in the account. They usually pay the amount and overdraw my account as well as tack on the $35 fee. I have also in the past had them return the check charging me the $35 fee and then having to pay the store a returned check fee as well. How do they decide what to pay and what to return?
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