I had been a Bank Of America customer for 15 years. I opened up my first Checking account in June, 1990. In March, 2002, I opened a VISA Credit Card and elected to use the available credit as overdraft protection. In January, 2004, I opened a Savings account, and was asked if I wanted to use the funds as overdraft protection. I agreed. In November 2004, I incurred an overdraft on my Checking account. I knew that funds in my Savings account would not cover the overdraft, but the available credit in my VISA would. My account was assesed $120 in overdraft fees. Thinking this was just a mistake, I called Bank Of America to alert them of their error. They informed me that when I opened my Savings account, overdraft protection was removed from my VISA. I recalled the paperwork I had filed when my Savings account was opened, and pointed out to the telephone rep. that the Manager of the branch I opened my account with was responsible for not informing me of the switch. I was informed by Bank Of America that overdraft protection could only be used on one account. When I told the representative the I was not informed of that at the time I opened my Savings account, the rep. told me they are not required to inform customers of the policies regarding their products. I wrote a letter to the CEO of Bank Of America, Ken Lewis, Executive Relations, and the Manager of the branch I opened my Savings with. The letters I received from Bank Of America simply reinstated what I was already told. I filed a complaint with the BBB where my complaint has been unresolved by Bank Of America.
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