Yet another reader confirms that if Bank of America is hitting you with overdraft fee after overdraft fee, you can get them waived by writing a complaint letter to CEO Kenneth D. Lewis.

This is his address:

Mr. Kenneth D. Lewis
100 N. Tryon Street.
Mail Code NC-1-007-18-01
Charlotte, NC 28255

Annet got 7 overdraft fees refunded, even though it was completely his fault. Mr. Lewis just really didn’t want to lose Annet’s account, it seems.

Read the complaint letter and success story, inside…

Thank you, thank you, thank you. After reading the post about the BoA customer who got $280 in NSF fees refunded, I wrote BoA myself. They had charged me 7 NSF fees in succession (which sucked ass) and was my fault. I’d asked the bank to cap the fees at 3 (another bank has done that for me in the past). Both the bank manager nor the CSR I spoke to on the phone said no.

I was pissed. So I wrote a formal letter of complaint to Kenneth Lewis. This past Saturday, they refunded all of the fees – even though it was my fault. I can’t believe it. That rocks. People do have the power.

April 19, 2007

Mr. Lewis:

No worries. I’m not asking for anything. I’m lodging a complaint. April 16 – 17 My checking account was charged 5 NSF fees. Having spoken to the branch manager at the Takoma Park DC branch and to a CSR on the phone, I’m informed I’ll be charged another 3 NSF fees if I don’t deposit money before the transactions are processed.

The NSF fees are legit. I don’t deny that. They are excessive however. Some banks would agree. I requested to have the fees capped at 3 considering:

1) I have two direct deposits coming in this Friday/Saturday as can be attested by my banking history

2) It usurious to pay ultimately $280 in fees for less than $200 in charges (something Congress has verbally blasted the credit card industry for) and

3) I’m not a deadbeat. Summer of 2006 I filed a claim for a lost deposit check (which was found *gasp*). I tried lodging a complaint about the experience – it was clear from the CSRs I spoke with they considered me a liar. Their service bordered on disdain.

My requests for relief were denied repeatedly. Even if I hadn’t had NSF fees before – 2 or 3 in the past year – BoA would only credit one fee. I’m not a good customer. Right.

I’m a damn good customer.

I’m 25 years old. I’m near maxed out on my credit card which BoA is making money on thanks to the finance fees. Lots of money too. A quick look at my banking history will reveal that most of my expenses are for entertainment, fun, etc. I’m not broke, just young. BoA profits on me from the credit card, from the NSF fees in the past, and from the fact I’ve pretty much stopped going into a branch. I raved (and still do) about how easy it is to use the new ATM/deposit machines.

I’m not closing my account immediately. I am moving most of my funds to ING online checking. My money will earn much better interest and ING won’t beat me down with excessive NSF fees. I have to keep a banking account open to participate at ING; I will stay at BoA until I’ve found a new home at a credit union. I’ll pay down the credit card within the next 2 months and keep the balance below $100 so I can keep building credit. BoA will be making a lot less money off me.

The customer rep I spoke with said he was distressed (of course) that I’ll ultimately be closing my account because of legitimate NSF fees. I’ll ultimately close my account because it’s not fun being treated so badly. I’m one of millions but I did improve your bottom line. If BoA had refunded/credited the NSF fees as requested, I’d be improving your bottom line for a while to come. I’m sorry I won’t be. I liked BoA for the most part.

Thank you.

Annet

[address redacted]

CC: Senator Carl Levin, Chairman
the Senate Homeland Security and Governmental Affairs’ Investigative Subcommittee

You have the power and it’s in your pen. Use it! — BEN POPKEN

PREVIOUSLY:
Man Gets $280 Back From Bank Of America After Writing CEO
BoA Gives Wrong Information, Charges Customer $280, Doesn’t Care

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