Social Security Not So Safe

admin — Wed, 17 Jun 2009 16:43:13 +0000

A recent decision by the California Supreme Court has overturned a ruling in the court case Miller v. Bank of America (article can be found here). It was decided that BofA lawfully used money from accounts containing Social Security deposits to recoup overdraft fees charged to the accounts. What does this mean for bank customers? In the past, banks have been eager to pass back fees taken out of accounts that receive Social Security deposits. If the bank was challenged on the fees taken from the account, they would generally yield. Now this will not be the case. This case has set precedent and will allow other banks to be bolder in standing their ground to keep fees taken from accounts receiving Social Security deposits. For other ways to get your overdraft fees refunded, see this page.

Another Sucess Story

admin — Wed, 10 Jun 2009 13:37:45 +0000

This article was published last week in The Consumerist, documenting a success story of a Bank of America customer that was able to get $315 worth of overdraft fees refunded with a simple letter to his bank. This is a prime example of how contacting your bank and threatening to take your business elsewhere can have a profound impact on getting your overdrafts back. I would again encourage everyone to keep hope when you get onto your online banking and see that you’ve been issued overdraft fees. Use the techniques I’ve laid out here and stand up to the bank to keep you money.

The Overdraft Expert » bank of america

Social Security Not So Safe

Another Sucess Story