How to Get Bank of America Overdraft Fees Waived

As many customers of the Bank of America will attest, getting slapped with overdraft fees is not pretty. These fees are annoying and frustrating to deal with, especially if you cannot afford them. But this does not mean that you have to be forced to pay.

In fact, you can get out of paying that overdraft fee. So if you are looking for a way to get your Bank of America overdraft fees waived, keep reading on. Many people have tried these tips and found them to be very effective.

1. Plan What You’re Going to Say

Before you make the call, you need to plan out what you need to say. If you make it up as you go, you might end up getting frustrated by some of the responses that trained customer service representatives can give.

To avoid this have a script read so that you always remember your talking points and can be in control of the conversation. Think about every possible conversation you can have and how you will respond.

2. Speak to a Customer Service Representative

With your script in hand, call the bank and ask to speak with a customer representative. But if you want to increase your chances of getting your Bank of America overdraft fees waived, go there in person. However, calling should be your first approach in order to save yourself the trouble just in case it works.

3. Ask to Speak to the Manager

If the customer service representative isn’t being helpful, ask to speak with the manager. If you have time, you can use the in-person branch visit to your advantage. The manager doesn’t want the other customers to see their fellow customers distraught. This means he will be in a more negotiable mood.

4. Be Honest About It

However you look at it, your account was overdrawn and this was a mistake. In order to get the conversation on the right foot, you need to be honest about it. Come clean on why you had to overdraw your account at that particular time. Don’t try to pin this on the bank – this will not help your cause.

5. Remind Them That You are Model Customer

For this to work, you need to be someone who rarely overdraws their account. If this is your habit, the bank might refuse to waive the overdraft fee to teach you a lesson. But if you are a model customer be sure to remind them about that.

Remind them that you are a long-time customer, and this is a rare occurrence. Remind them about the multiple accounts you hold with them, whether they are personal or business accounts. And if you have credit cards or loans with them, be sure to bring that up as well.

Here are things that you can say to remind them that you are a great customer:

  • “This is my first time asking you to waive this fee.”
  • “Haven’t I been a great customer at this bank for 5 years?”
  • “Wells Fargo has been in touch with me, but I have remained here out of loyalty to this bank.”
  • “I have loan accounts with you and if you check, you will see that I always make payments on time”

6. Don’t Forget to Be Nice About It

Do you know how many angry customers these customer representatives or managers at the Bank of America receive every day? Many. If you want to get your Bank of America overdraft fees waived, separate yourself from the crowd and be a breath of fresh air. Keep in mind that they make the final decision, so it doesn’t hurt to be nice about it.

7. Be Persistent

If they insist on the charge, be persistent (not rude). Remind them that at the end of the day, an unhappy customer is not something they want. Tell them that if this is how they treat their loyal customers (punishing them for a rare mistake), then you would be glad to take your business elsewhere.

8. Avoid the Overdraft Fee in the First Place

Of course, the best way to get your Bank of America overdraft fees waived that works 100% of the time is to avoid them in the first place. But since we can’t always keep track of our spending, here are things you can do to avoid bank overdraft fees:

  • Set up email or SMS alerts
  • Sign up for online banking and constantly check how much you spend
  • Stop any automatic payments
  • Opt-out of overdraft protection

Final Thoughts

As you can see, getting your Bank of America overdraft fees waived is not that hard. But remember that for this to work, you need to be a model customer and not have a habit of overdrawing your account. Just because you have been slapped with an overdraft fee, it doesn’t mean your fate is sealed and you have to pay.

So with these tips in hand, contact your local branch today and get those Bank of America overdraft fees waived.

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Grace Chen
Article written by

Grace Chen

Grace Chen has 10 years of experience in the financial field and have been delivering excellent business content through her articles.

Grace graduated from the Haas School of Business, University of California and is currently the chief editor of Communicate Better where she has written and edited thousands of articles published in various media.