Comments on: Good morning, you owe us $887,180 dollars and 48 cents

By: NotHappy

NotHappy — Tue, 06 Apr 2010 07:53:27 +0000

And by "thing" I meant "think".

See what Bank of America did to me? It fried my brain. Boo, Bank of America. Boo.

By: NotHappy

NotHappy — Tue, 06 Apr 2010 07:52:23 +0000

Thanks for posting this. As I must wait until morning to call the fraud department, at least I know there may be some reason for this madness. I appreciate that BoA is attempting to protect me and my accounts, but logging in and seeing a giant negative balance in bright glaring red made me only thing mean mean things about my bank…..

By: NevDull

NevDull — Sat, 31 Oct 2009 15:43:09 +0000

I wonder if it's done instead of using a locking mechanism because it allows additional transactions to be requested -- more data about possible bad actors in the case of fraud.

Obviously they should indicate a fraud hold on receipts, online banking sign-ins, etc, but there may be interesting constraints to interbank processes that this is the most efficient way to mark the account as potentially defrauded, stop the bleeding, and still obtain data while working within the parameters of a system they can't fully control.

Obviously a B of A statement on the matter would be best.

By: N Shady

N Shady — Wed, 28 Oct 2009 13:07:01 +0000

I wonder if the interest you earn on the account (a calculation based on your average account balance) is affected by the days that go by with such a huge negative balance.

By: Peter McEvoy

Peter McEvoy — Wed, 28 Oct 2009 10:33:58 +0000

OK, I’m not an accountant, but this practice doesn’t make sence from the point of view of the bank trying to “balance the books”, which (to my mind) would be a case of summing the account balances. Surely applying arbitrary 888,888,888 deductions would give a false “bottom line”? The 888,888,888 would have to be moved to another account for it to balance, and again give a false impression of credits and debits?

By: Sachin

Sachin — Wed, 28 Oct 2009 10:10:43 +0000

these kind of things happen quite a lot in India and happened with me too…but as you said these alo get resolved by themselves….