BizNet OnLine Magazine, We’re Bank Of America

We’re Bank Of America
Your Out Of Luck!!!!!!

By: Mike Lipshultz
Mike@biznetonline.com

Can you imagine having money in the bank and not being able to use it?

If you have a Bank of America Visa/ATM/Debt Card you need to read this report.

This writer had a recent urgent need to place a $1,000.00 charge/transaction on his personal Visa/ATM/Debt Card issued by the Bank Of America. Having placed over $3,000.00 in the account just the week before, I had the piece of mind of knowing that at least the funds were "in the bank".

So, imagine my "surprise" when the charge was denied! I told the merchant it must be a mistake, please try again. Again denied. Now I’m looking like one of those fine folks that are maxed out on everything and in denial about it. I told the merchant to hold on I was going to talk to the bank and straigten this out.

I called my bank. Bank Of America. Good news, I had more then enough in the account to cover the charge. The funds were available in my account. The bad news. The charge was denied and would continue to be denied. Why? Bank Policy!

Bank Policy...... No if, ands, or buts....... Bank Policy.... It seems that as a security measure no matter the account, the account holder or the balance in the account, no transaction of over $750.00 per day will ever be approved on a Bank Of America Visa/ATM/Debit Card. Never ever .............

Now I can understand the security measure. I can’t understand that there are no provisions to get it overridden. Can you imagine if it was an emergency auto repair in the middle of no where? If I had no real amount of cash, no checkbook on me, but I did have my trusty Bank Of America Visa/ATM/Debit Card. I would be out of luck if the bill was over $750.00. The bank will not override the automatic turn down. You call the bank and talk to person after person. No matter the amount of funds in your account.... No matter if they believe it is authorized by you.... No matter any reason on earth..... No you can’t charge/purchase more then $750.00 per day on the card.

Note: I said per day! That is right, this policy is not just a maximum of $750.00 per transaction, it is a maximum of $750.00 per day!

With no way of getting a human to O. K. an override. No matter how much you have in the bank.

Like I said, I understand the security issues..... But not having any way to override the automatic rejection is just plain stupid!

So look at that Visa/ATM/Debit Card in your wallet, and call your bank. What is their policy?

Not all banks limit the usage of the cards. Check on your bank before you find out the hard way.

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