This is a word of warning to anyone with a Bank of America checking account: if you use your debit card to purchase anything online – even if it is a one-time order – unscrupulous merchants can help themselves to your money and BoFA will do nothing to help you!
Online companies have helped themselves to over $2000 of MY money and all BoFA will say is, sorry, we can’t help you because we don’t know the terms of your agreement with that merchant.
BoFA will not refund your money unless you threaten to sue, and even then, BoFA will only refund a small portion of your cash and tell you to take the merchant to court. I’ve read the horror stories online from other BoFA account holders but I never thought it would happen to me. I have been hit three times by three different companies – all in 6 months! Out of the $2000 stolen from my account, BoFA has only refunded $900!
This can’t be a coincidence!
I’m not going to go into specifics, but this is no coincidence that merchants are suddenly helping themselves to our cash. Obviously they realize that there is a loophole with debit accounts and BoFA is doing nothing to fill it.
Canceling your card will not help you: after a company took $1350 out of my checking account 3 months ago, a BoFA rep told me that even if she canceled my debit card, the bank would continue to pay the merchant because I allowed the merchant access to my account.
Solution: do not use your BoFA debit card for any online purchases, even if it is a one-time purchase. Use a credit card instead.