Bank of America

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1.2 out of 5, based on 34 ratings and
459 reviews & complaints.

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Bank of America Lost My $30,000.00 CHECK
Posted by on
Rating: 1/51
JOPPA, MARYLAND -- So my wife received a bonus check for 30000.00 dollars. We deposited into the ATM at the Joppa, Maryland location. We looked at our bank account online the next day and noticed they approved then denied the deposit. We called the branch and asked why they denied the deposit, the manager stated that the amount of the check was too large to deposit through the ATM. We asked where the check was they said we don't know because are ATM's are not serviced by the branch. They said that the checks are picked up daily then shipped or mailed to the Phoenix Arizona location.

They said we need to call the customer service number to find out any more information. So we called customer service and they said that they had received our check and we would get a letter explaining that they have the check and would be mailing the original or a legal copy of the check. We called other branches emailed complaints for days. Then we talked to a manager at another branch and he said that The customer service reps read that line from a script(we have received your check and will be mailing it out in 7-10 business days).

So after calling and calling and complaining we finally received a call from a representative from the department in charge of receiving the checks. The representative said Ms Jones I am sorry but we have lost your check. We have been looking for it since you called customer service 11 days ago. We have searched all the bags from your county ATM locations and we cannot find the check. We are very sorry he said.

So this gentlemen said he would make it right by mailing us a negotiable copy that we could cash anywhere without any issue. The copy was sent FedEx over night delivery. When we received it it was a copy on a piece of paper printed from a regular printer. Just a scanned copy from when it was deposited via the ATM. Bank Of America is the worst bank in the World. There customer service is terrible, they lie and will tell you what you want to hear.

I advise anyone banking with them to close there accounts and seek better service at PNC or Wells Fargo.
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clutzycook on 03/22/2013:
Yikes! That's a lot of money to trust to a machine!
DebtorBasher on 03/22/2013:
I would explain this to the company you got this bonus check from and have them put a stop payment on the check, and cut you a new one.
madconsumer on 03/22/2013:
have the issuer verify the check went through processing and was cashed. if not, simply have them stop payment on it, and re-issue you another. any deposit over 10k has to be handled by different means. over the 10k mark, the government has different regulations and reporting requirements.
Chaparrita on 03/22/2013:
I would never deposit a check that large into an ATM. I don't trust a machine with something like that.
Obsfucation on 03/22/2013:
That check you received is not from a regualr printer. It is called an IRD and is indeed, perfectly negotiable. As DB says, you can have the original stopped and get a new check, but personally I'd take the IRD in to the Branch Manager and have it credited to my account.
Gilbert on 08/02/2013:
I went into the bank to get a secured credit card they said my card will be here in 5 days I have not received my card I go back to the bank they said I was denied I set for secure credit card they said yes I said okay give me my money back they said your money will be back in 9 days 9 days go by I have not received my moneyand now its been 35 days and still have not received my money they are they keep giving me the runaroundI call down there and they hang up on me now they have been telling me my check will be ready by the end of the day now that's been going on for weeks I call customer service and they can't get ahold of the branch I said how is this customer service if you can't get a hold of the branchwhat I think they do they do this to a lot of people and they get to hang on to their money an investor
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Bank of America "Customer Service" conversation about Fees (Hilarious!)
Posted by on
Rating: 1/51
ST. LOUIS, MISSOURI -- Welcome to an online chat session at Bank of America. Please hold while we connect you to the next available Bank of America Online Banking Specialist. Your chat may be monitored and recorded for quality purposes. Your current wait time is approximately 0 minutes. Thank you for your patience.

Thank you for choosing Bank of America. You are now being connected to a Chat Specialist. For security purposes, please remember to close your chat window when completed.

Jill: Hello! Thank you for being a valued Bank of America customer! My name is Jill. May I have your complete name please?

You: Marc

Jill: Hi Marc. How may I assist you with your personal checking and savings account today ?

You: Fee dispute

Jill: I certainly understand your question regarding the fee. I will be more than happy to check that for you.

Jill: May I have the last four digits of your account please? 1

You: xxxx

Jill: Thank you.

You: Certainly

Jill: If I understand you correctly, you would like to dispute overdraft fee from your account is that right?

You: Correct

You: Well it is an extended balance fee

Jill: As I have checked on your account, I see that you got overdraft fee for a transaction amount if $620 which is an online banking transfer to your account xxxx when he only balance on your account was $585.30.

Jill: For each time we determine your account is overdrawn by any amount and continues to be overdrawn for five or more consecutive business days, we will charge an Extended Overdrawn Balance Charge of $35.

You: I understand this

Jill: Yes thank you for understanding the process, however, as I see here that there was a previous refund last 2/21/12, we are unable to process any further refund. I apologize however, the fee was assessed correctly on your account.

You: You're fee made the account negative. Then you charged a fee on the fee. That is deceptive business and gouging. I wanted to have this conversation before I pursue further action.

Jill: Once you overdrawn your account pay the fee prior to its 5th business day to avoid getting extended overdraft fee on your account.

You: The account was overdrawn because of a fee. You can't then charge a fee on the fee. That's preposterous.

Jill: Marc, you were assessed overdraft fee of $35 for your transfer made $620 to you other checking account, and, that overdraft fee remained on your account for 5th business day due to which you got charged extended overdraft fee for that overdraft fee assessed on the transfer made.

Jill: If you overdraw your account, repay the total amount you are overdrawn as quickly as possible and prior to the fifth business day you are overdrawn to avoid this fee in the future.

You: And you did not refund this fee. You refunded another fee that was erroneous to begin with, which is why you refunded it. Then you charged another fee to get your refund back.

You: That transfer was made when there was money in the account to cover the transfer. Otherwise I wouldn't have transferred that amount.

You: You then stuck the fee in there as if it had occurred before the tranfer. Making the transfer for more than what was "available".

Jill: Let me explain the transaction on your account.

You: Then you refunded that fee, because of the ridiculousness of it. Then followed the fee with another on the same lateness. Of course I didn't have the money to put in there. Otherwise I wouldn't have been charged the fee to begin with.

You: I just explained it to you, what is the point of you explaining it again?

Jill: I will explain why the fee was assessed.

Jill: Last 2/8/12, the balance on your account was only $0.40

Jill: Then,

Jill: Last 2/16 there was a transaction for Educational Comp for amount of $182.65

Jill: Due to which your balance went -$182.64 correct?

Jill: Then,

You: Then my check went in

You: before the fee that you are about to say went in there

Jill: You made deposit of $802.91 last 2/17/12 which your balance went to positive $620.30 right?

You: Then I transferred, then the fee

You: Then a second fee for the transfer

You: Then this fee for the extended balance fee

Jill: yes, I would like to inform you that your transaction for $182.65 was an ACH, and all ACH transaction posted on account when there is insufficient funds will incur overdraft fee.

Jill: Yes.

Jill: Then, the balance went below $585.30 before you made the transfer of $620.

You: No it was not

You: It was 620

Jill: That fee was refunded 2/21/12 for your ACH transaction.

You: Otherwise I would have only transferred 585

Jill: Then, you have been charged again overdraft fee for your transfer made $620

Jill: During nightly processing, we process all credits before we present any debits to the account. All debits are then processed from the highest dollar amount to the lowest dollar amount, according to the transaction type, even if they create a negative balance.

You: You do that so that you can get more fees. That is why you process them first.

Jill: I understand why you feel that way. Based on our experience, we believe that many customers prefer that we place priority on their largest transactions when the balance in their account cannot cover all their transactions. This may enable us to pay more important items, such as mortgage or car payments.

You: That has been proved in court to be an unfair business practice.

You: You need to stop using this policy. Or if it is making enough money to keep doing, refund the customers who call you on it.

Jill: I am really sorry if you are frustrated about the fees assessed on your account.

You: Look at the history, your institution has charged me thousands over the years. You might as well refund me so that you can continue to collect, rather than reject my request, and force me to get a different bank to get all that additional revenue.

You: Its just a smart business move.

Jill: Yes Marc, you have been charged overdraft fees on your account several times and we have refunded fees on your account as courtesy. I please suggest you to monitor your account balance to avoid getting overdraft fees in future. I know that paying fees is frustrating however, those fees was assessed correctly and the agreement on fees was included on your personal disclosure when you opened the account.

Jill: If there is anything that I may assist you with please let me know.

You: Refund of erroneous fee.

Jill: I understand however, I am really sorry that fees cannot be refunded and it was assessed correctly.

You: Unfair business practices. I hope you hurry up and settle on this lawsuit. This conversation will be put online and this practice of the extended overdrawn balance fee will also be deamed unfair business practice. I embarrasssed that you are allowed to be called bank of America. It should be Bank of Thieves.

You: Does it say in my account documents that you can charge a fee since I am unable to pay on a previous fee?

You: And the fifteen dollars you charge monthly? Is that another fee?

Jill: Marc, again, we sincerely apologize. The fee disclosure agreement was provided and you were informed about those when you opened the account, and the monthly maintenance fee of $12 was also included.

You: No, when I opened the account, there was no monthly fee. And the overdraft fee was $15. And there was no extended overdrawn fee. This was all added later.

Jill: I can send you the Personal Schedule of Fees so that you can have check all fees associated on your account.


You: Yes, please do.

Jill: Sure.

Jill: Please clcik here.

You: Will it say that if you are unable to pay on one of our fees, we will give you another one?

Last text message receivedJill: Yes that is included.

You: Highly unlikely.
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Chrissiann on 09/11/2012:
BOA changes their policies as the spirit moves them. I took out a credit card with them for 0% interest until May 2010. By Feb 2010, they started charging interest. I asked them what was going on? They said my interest free period ended Feb 2010. I said oh hell no! I saved the recruiting ad that said May 2010! So they put me back to the no interest until May 2010. I paid off the account quickly and closed it. I refuse to deal with crooks! I will never give them another dime of my business.
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Complaint filed the US Attorney Office, Central District of California, against Brian Moynihan – President/CEO, Bank of America
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CHARLOTTE, NORTH CAROLINA -- Complaint filed the US Attorney Office, Central District of California, against Brian Moynihan – President/CEO, Bank of America Corporation, and Bryan Cave, LLP Attorneys - Alleging Racketeering and Large Scale Financial Institution Fraud.

Los Angeles, July 6. 2010 - complaint was filed with the US Attorney Office, Central District of California, against Brian Moynihan – President/CEO, Sandor Samuels – Associate General Counsel, Bank of America Corporation, and Attorneys Jenna Moldawsky and John Amberg alleging:

(a) Public Corruption and Financial Institution Fraud relative to their conduct in Samaan v Zernik (SC087400) at the Superior Court of California, County of Los Angeles pursuant to various acts, including, but not limited to the Fraud Enforcement and Recovery Act (2009);
(b) Large-scale fraud on the US government and the US taxpayer in funding government-backed uniform (sub-prime) residential loan applications with no underwriting at all in violation of Regulation B of the Federal Reserve and “sound banking principles” as evidenced in records produced in the same caption;
(c) Consequent violations of Qui Tam – False Claims Act – in seeking hundreds of billions of dollars in bailout funds from the US government for the large-scale default of such loans, which were funded in violation of the law, and
(d) Large-scale securities fraud pursuant to the Securities Exchange Act (1934) and Sarbanes Oxley Act (2002), relative to false certification signed starting January 1, 2010 by Brian Moynihan as President/CEO of Bank of America Corporation in periodic reports to the Securities and Exchange Commission, failure to report fraud by corporate counsel and by management to the Audit Committee, and refusal to allow review of complaints by the Audit Committee.
Combined, their conduct is alleged as involving numerous predicated acts in the past three years, and satisfying the elements required for prosecution for racketeering pursuant to RICO – the Racketeer Influenced and Corrupt Organization Act (1970).
The July 6, 2010 complaint relied in part on previous complaints:
(a) June 11, 2010 complaint against Brian Moynihan and Bank of America Corporation, filed with the Office of Comptroller of the Currency and the Securities and Exchange Commission;
(b) June 21, 2010 complaint, filed with the US Attorney Office, Central District of California against Attorney David Pasternak, former President of the Los Angeles Bar Association, alleging public corruption and deprivation of rights under the color of law relative to real estate fraud under the caption referenced above, as opined by one of the best known fraud experts in the US and FBI agent assigned to the case, and
(c) May 11, 2010 complaint, filed with FBI against Nivie Samaan and others for real estate fraud and other violations of the law.
US banking regulators and the US Justice Department repeatedly promised the US Congress, the people of the US, and the international community to investigate any criminality that may have caused the current economic crisis, inflicting harm on workers and investors world-wide. The case at hand documents in great detail such alleged criminality. Therefore, the US Attorney, Central District of California, was called upon to perform his duties and provide equal protection to complainant Dr Joseph Zernik, to shareholders of Bank of America Corporation, and to all who reside in the United States pursuant to the US Constitution and ratified international law – the Universal Declaration of Human Rights.
Conduct documented in the July 6, 2010 complaint was not unique at all, only its scale and the evidence of involvement of senior management were. Examples were provided of similar conduct in other cases.
The case also documented the central role of alleged widespread corruption of the legal profession in undermining US financial systems and corporate governance, and failure of US law enforcement and the courts to enforce provisions of the Sarbanes Oxley Act (2002), which were specifically enacted to address such conduct by counsel.
The complaint further alleged that continued dysfunctional state of US banking regulation posed risks to the US economy that are difficult to assess.
The complaint was copied to the UPR Office of the United Nations, UPR Office of the US State Department, Basel Accords Committee on international banking, National Banks – Research Departments, the Honorable Dianne Feinstein, Senator from California, United States Congress – Judiciary Committees, and United States Congress – Banking Committees.
In April 2010, Dr Zernik and Human Rights Alert (NGO) filed report with the United Nations for its first ever review of Human Rights in the United States, scheduled for November 2010. The report alleged widespread corruption of the justice system in Los Angeles County, California, and refusal of US government to provide equal protection to the 10 million residents of the county.
10-07-06 Complaint Filed with US Attorney Office, Los Angeles against Brian Moynihan, Bank of America (NYSE:BAC), Bryan Cave, LLP, Alleging Racketeering and Large Scale Financial Institution Fraud.
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Alain on 07/09/2010:
Detailed review. Interesting. This will probably keep attorneys on both sides busy for at least a few years or more.
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Bank of America, Making Home Affordable: BEWARE, it's a SCAM!!!
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My husband and I are retired military. My husband is disabled due to a brain injury in Iraq. This is an account of how Bank of America uses the making home affordable program as a scam to get your home. It started when my husband had retired, his disability income had not come in yet and we were having difficulty making our monthly mortgage payments. Though we were not behind, we talked to representatives at b of a and they suggested we apply for the making home affordable plan. For the next few months we faxed, fed ex'd, and phoned our information that they requested over 10 times. Also during that time they said I could no longer make my payments over the computer and that I would have to either mail in or phone in my payments. So each month, I would call in, ask what I needed to pay, and they would give me a figure which I would then give them my debit card info. For a few months they advised me that I needed to make trial payments which were $200 less than my regular mortgage payment. After a few months they started to inform me that I was behind. So I began to call every 2 weeks as they instructed to get a status and was told that I was behind due to them putting the partial payment into a holding account. However, when they started telling me that I was behind I started making my regular loan payment amount plus extra to make up the past due amount. Then we got a call saying that we were in foreclosure and that they could sell our home as early as the next morning. Scared I made some phone calls and got hooked up with Nova Debt. After speaking with them and having the representative from b of a on a 3 way call....we got the run around some more, they kept telling us conflicting information, but then assured me that I was not in foreclosure and that if I continued to make my regular monthly payments plus extra to chip away at the past due, I would not go into foreclosure. Well, that was last month. As of 1/25/11 I was informed that my home had gone into foreclosure and they would not accept anything from me other than the total amount past due plus lawyer fee's and that they would have to order those figures and will fax them to me in 3 business days. So basically, after working with b of a for 1 year, calling each month, doing as they instructed, and never getting the same information twice, I am now in foreclosure and have to come up with a large sum of money next week to keep my home. This is very disturbing to me that they would treat one of our nation's disabled vets is such a dishonest manner. Keep in mind that we never missed a single months payment and only did what they instructed us to do and now they are trying to take a home away from a retired vet with a brain injury. B of A has left a really bad taste in my mouth and the fact that they are using the making home affordable plan as a front to steal from honest Americans and take their homes from them is extremely foul on so many levels. Please, email me with your comments, I would love to discuss this with someone.
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tnchuck100 on 01/28/2011:
This fraud perpetrated by Bank of America is becoming all too familiar. Typically fraud is a criminally punishable crime. As frequently successful as that are with this scam it certainly appears that Bank of America is, in fact, above the law. At least they are so powerful no attorney or government agency will touch them.
azRider on 01/28/2011:
contact your states attorney now and get the info to them. then contact a local lawyer to start the process to hold the foreclosure. you can fight this, but you have to get help and its going to be a lawyer.
clutzycook on 01/28/2011:
It seems that in the event you need a program like this, you should retain a lawyer to deal with the stunts BOA tries to pull. Unfortunately, the people who need this program are usually the least likely to be able to afford a lawyer.
tnchuck100 on 01/28/2011:
clutzy, I would think that if they had the money for a lawyer then they would be able to make the mortgage payment and would not need a lawyer. Catch 22. Banks win. Lawyers win. Customers lose.
clutzycook on 01/28/2011:
That's what I said chuck! If you need this program to pay your mortgage, you need a lawyer. However, if you need this program, you probably can't afford a lawyer (unless you are one or are related to one of course). That's why this scam is the perfect crime.
leet60 on 01/28/2011:
First, I want to thank your husband for his service to our country and for the sacrifice he has made. It is abhorrent to me, that knowing the situation, B of A would take advantage of you.

In addition to contacting your state's Attorney General I recommend you contact as much of the media as you are able to regarding this issue. I fully expect they will be very interested in your situation.
negatively_yours on 01/29/2011:
I believe that our government needs to be aware of BofA's dishonest practices. I think that everyone should email their states elected officials and let them know just how honest, hard working americans are being treated by this big corporation. Our voices need to be heard to stop these blood sucking corporate ticks on the butt of society to prevent them from stealing from the little guy. ACT NOW!!! Make their dishonest practices known by emailing everyone and anyone that might take an interest in helping people who have fallen on hard times and are reaching out for help.
negatively_yours on 01/29/2011:
Moved From Other Review: I believe that our government needs to be aware of BofA's dishonest practices. I think that everyone should email their states elected officials and let them know just how honest, hard working Americans are being treated by this big corporation. Our voices need to be heard to stop these blood sucking corporate ticks on the butt of society to prevent them from stealing from the little guy. ACT NOW!!!

Make their dishonest practices known by emailing everyone and anyone that might take an interest in helping people who have fallen on hard times and are reaching out for help.
madconsumer on 01/29/2011:
I have been with bank of America since 1986, never had any issues in all that time.
trmn8r on 01/29/2011:
madconsumer -> it is fabulous that you haven't had a problem with BoA, but have you been in the "Making Home Affordable" program, which is the subject of the complaint? The OP appears to have followed BoA's instructions, and their reward is their house is being foreclosed. Even a rabid dead beat credit card holder and bank hugger like me finds this objectionable.
HOCKEYLOVER on 02/03/2011:
Hi, I to tried MHA scam got the same round around,but I caught on to their scam early on so I
did not get to the foreclosure stage.
My personal opinion is this is another scam our
government is doing to home owners.
This loan modifacation can be done on (1)sheet of paper as you are only changing the interest rate,length of loan,principle amount should stay the same,how diffucult is that,
frustratedwithboa on 02/21/2011:
What can actually be done when B of A takes advantage of consumers who are having financial difficulties due to illness or loss of job. In my opinion nothing, they get you in so deep you can't get out and then just take what they want. The government needs to stop talking and actually do something to B of A and others like them and leave the little guys alone. All of us are hard working tax paying Americans, where is our bail out money? In the pockets of the B of A executives.
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Holds Checks when they feel like it....charges too many fees
Posted by on
COLUMBIA, MISSOURI -- My husband and I have been BoA customers for 10 years now. My husband had worked the same TV job for 10 years as well and gets direct deposit of over $900 every two weeks. The bank in my area knows us and calls us by first name when we come in and we never had a problem until the last couple years. I agree with other people here that BoA waits until items come through on your account before depositing money. We use online bill pay and set up our bills to go out on the date my husband's direct deposit comes in. They sometimes let the bills go through first and THEN credit the direct deposit. When the direct deposit comes in it shows up in the pending but is available to us that morning at around 3AM. At around 5PM that same day, the pending part shows the bills are paid AFTER the deposit is there but, amazingly, not when posted. How can this be when they had my husband’s money at 3AM and did not send bills until 5PM that day?? Then they charge $19-$34 for overdraft on EACH payment!!

I also agree with the poster who talked about his stop payment not working with his landlord after 6 months. I had paid insurance agent money for a home and auto policy and then found he was a fraud. I called the bank that day to put a stop payment on the check and was charged the $28 fee. BoA let the check go through anyway and I had to spend two days getting my money back. All because this guy went online, pretending to be us, to open a home and auto policy. He then used our check to do an online transaction and the bank said that was a different story than a check. I ended up having the fraud department reverse the charges and I got my $28 stop payment fee back AND my money!!! Keep bugging this bank and talk to people higher and higher until its fixed. Don't bother talking to a LOCAL branch manager because they care less.

My "last straw" was on Jan 17th 2006. In Dec I got a check from my mother (hand written) for $100 on Christmas. She lives out of town and DOES NOT use BoA. I deposited this money by way of ATM. The money went through and was available that same day. We had only $5 in our account at the time. This is important as you will see later. Mind you, we have been customers for 10 years now.

On Jan 17th 2006, I got a check from my college, DeVry, for a little over $800. It was from excess financial aid and I get these a few times a year. BoA local should know this by now. I set up for some bills to go out the next day (online), thinking the money would be there on the day I put the money in the bank. I then went to the ATM to deposit the check but found I had forgotten a pen to sign the bank of the check. I then parked and walked into the bank with my 12 year old. A couple main bank people there said "Hi, Christina, we haven’t seen you in a while!" I said I was busy with school and such and went up to the counter to deposit the signed check. The teller knew me and never asked for ID. I stated that I wanted to deposit the check in my checking account. She then said she could not deposit the money. I asked why not? She stated that it was an out of state check and I only had $30 in my account to cover it. She also said that it looks like you NEVER have deposited this much money in your account before. I was VERY ticked and said "EXCUSE ME? My husband gets over $900 every two weeks for the last 10 years into this account! How do you think we pay for everything!!! I also just deposited $100 with a PERSONAL check and only had $5 in my account. You let that go through!!" She said she was sorry and had been looking at the wrong screen. She then said I would have to talk to the branch manager, Jennifer, to get this taken care of.

Jennifer came over, made a face at me.....HELD THE CHECK TO THE LIGHT like it was a bad check!!! and asked me if I get these checks often. I told her that I get refund checks every once in a while and they can even look on the account and see. She then said she would deposit the money but I can't have access to it until Jan 25th AND even then, I can only have $774.31 of it. I said "WHAT!!! You've NEVER does this to me before! What happens to the other $100 of the $874.31???? She said she would release that later but gave no date. I told her that I better have ALL the money there or we go to small claims court and let a judge decide. She said, "Look I will call your school's bank on the 20th and if the fund look like they will clear; I will release the money to you....all of it." I said OK.

I then went home to complain about my treatment to the main branch and those people said there was nothing they could do and that it was THIS manager’s discretion to place a hold on the account and NOT theirs. They refused to help.

I then called my school on the 20th to see if cleared their end and told them what this woman is doing with their money. My school looked at THEIR bank's website and saw that BoA HAD received the money and it had cleared their end. They were so upset with my bank that they called my bank of three way. My bank told my school official that they had found that the money was set to clear but she was not releasing the money until the 25th. My school official then said, " Let me get this straight...You're saying it's your discretion to take the hold off for this woman? And, even though OUR bank's website shows you have our money, you will not release the hold??" My bank said yes. My bank then said they would be nice and maybe release the money on the 23rd instead. My school official then said to my bank that they would call back on Monday to make sure it was done. When my school official and I got off the phone with my bank; the official said this was ridiculous and that I should change banks. I then reminded my official that the bank manager that she just talked to had promised to release the funds on the 20th if the check had cleared. This official said she would NEVER bank there after what she just heard. I told her we were opening up another account at another bank and as soon as my husbands direct deposit starts going to the new bank; we are closing this one.

The story is not over. I see on my account that the money has posted but I have no access to it as of the 21st. I also saw, online, that all the bills I paid with their online bill pay went through (5 of them) and I had 5, $34 charges on my account and one bounced check. I then called the bank to complain again and only got two of the $34 charges reversed! My account shows I have about $775 in there but my available balance is a negative $20.54!!!!!!

If the check is not available to me by the 24th I am taking this to court. I also told the main bank that I would be closing my account soon for these actions. They shot me an email asking how they could keep us as customers and that we have been such good customers with them for a long time BLAH BLAH BLAH. I shot them an email back and said, “You can start by releasing my funds to me that have cleared my school’s bank ALREADY!!! I have yet to hear back from them.

This "bank" can kiss my butt and I am going to bank with USAA who has NO fees at all...even free checks for life and ATM use at other, NON USAA ATMS. I will earn interest on my checking account and have a MasterCard Check card that will earn cash back on my purchases. I get MANY more GREAT offers with USAA checking and already have them for my auto and home. I should have gone with USAA before! Watch out with BoA!!! They are horrible people!
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crewboy on 01/21/2006:
I have a suggestion for you. I too have gotten sick and tired of the ludicrous policies and fees being set by these banks. It seems that the big banks are buying up the smaller ones and getting larger and larger every year, and with this comes higher fees and insane policies.

My suggestion to you it two words--credit union. I finally had enough of my bank changing it's name every year and raising the fees with each name change so I closed my accounts and went to a local credit union. I'm sure there is one in your area that you will be eligible to join.
ckennedy124 on 01/28/2006:
Just an update. The BoA gave released the hold on my check, charged me $138 in fees, and now has my bank account all messed up. They are a dollar off from what my figures are on Microsoft Money. I downloaded everything they have into Microsoft Money for years and it's never been wrong. My balance, AFTER downloading and checking against BoA account 50+ times, if a dollar off. I think these freaks are trying to get me to overdraft and take fees, thinking I am too stupid to catch the error, just because they know I am trying to close my account with them. I opened a better checking, savings, and money market account with a bank that also holds my insurance. BoA told me they saw that I sent money with my Check Card to this new bank and asked if I was leaving them. I said "darn right I am!". Now, this $1.00 error is there and I am glad I caught it or I would have gone overdraft again for their mistakes!. I took the $1.00 out of Microsoft Money so I do not go over and can't wait to close the account as soon as our direct deposit is moved to the new bank. What nice people BoA are....NOT!!!!
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StarEmpty StarEmpty StarEmpty StarEmpty Star
Nightmare Modification
Posted by on
Rating: 1/51
NORTH CAROLINA -- I lost my job of 10 years in November of 2008. My husband and I discussed the modification and decided to start the process in October of 2009. I filed out applications to be denided for months this went on until I had a lady from Bank of America tell me that I would never be approved until I am 90 days behind. I was only 60 days. So I made myself 90 days behind and yep I was approved. I received my trial payments in the end of October and made them Nov, Dec and Jan and started my new payment in Feb of 2011. Everything was going just fine until June of 2011 when I received a letter stating I owed almost 900.00 in escrow. I calle BAC and stated that this was added in on the modification and I was told no this I had to pay extra. So my payment went from 703.91 to 784.57 until the 900.00 was paid off. In Dec of 2011 I got a letter in the mail from BAC stating that they have not received my payments from Sept, Oct and Nov of 2011 and if I didn't bring my account current in Dec of 2011 they would start foreclosure proceedings on my house. I called the next morning and found out that all the money I have been paying all year long had been going into another account and not being appled to my mortgage. Almost 10,00.00 dollars. In the next couple days I got some Fedex letter in the mail and the last one I got stated that there was errors int he first modification and that a new correct set of mod papers would be sent out soon. I got those papers in Jan of 2012 signed and norterized them and sent them off. Made my payments about four months later I got a letter in the mail from BAC stating there was errors in the last modification and I would receive another set of correct papers and I did sighned them and sent them off.

I am shut down at BAC, what I mean by that is when I call and punch in my Acct number I am sent directly to my customer service manager which never answers her phone. I leave a message and when she does call me back she never has any answers for my questions. My payment over the last three years went from 703.91 to 784.57 to 720.18 and now current it went up to 875.22. My interest rate started at 6.25 went to 5.25 to 4.78 and now its 6.5. I am terrified I am going to loose my home because BAC is not doing the right thing. Every time they made a error on the modification my partial claim went up a 1000.00 or more dollars. I shouldn't be charged for their mistakes. I can't get anywhere with BAC it has been 3 years this month and the nightmare continues.
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User Replies:
Yumm, cookies! on 10/08/2012:
Did you pay by check and send in a coupon/bill?. I always pay by check, I look at it as my receipt for payment. Wherever I pay a bill I want a receipt. They can never say they haven't been paid when their endorsement and account number is written on my receipt.

You might want to check a real-estate attorney, in the long run it would probably pay for itself, plus you'll have piece of mind. The stress alone would be worth it. A good attorney that has a good clerk could probably have that straightened out in just a few hours.
Anonymous on 10/08/2012:
How did you not notice that your payment was going to the wrong account for several months? Did you not look at your monthly statement? Did they not call you when you were late?
jonthethird on 10/10/2012:
I'm working with an employee who is getting close to losing his home. BofA sent a form, stating that $11000 would bring all into current. He was able to get the money together, but then another form came. It broke down the 11000 payment, allocating it to different portions of the account. BUT, then BofA threw in a $32000 (yes, $32000) in Miscellaneous Costs. No breakdown, no clue what this is all about, just a demand to stop foreclosure, pay $43000. It appears BoA does not want to keep people in the home.
jc on 10/10/2012:
Every single time I read one of these BoA nightmares, it makes me sick that they continue to get away with screwing over the should take this to your local media and see if they'll air your story. The more exposure these creeps get the better. Good luck!
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Get out of Bank of America NOW!
Posted by on
BRADENTON, FLORIDA -- I have a complaint as well about this institution. Everything that I have read so far from other consumers who were robbed by BOA does not surprise me. My wife and I had an account with BOA as do many married couples. Both of us have businesses which are separate accounts. My wife filed for a divorce after 20 years of marriage so we were separating accounts. However after the removal of her name from the joint account she was still able to view my business account from the web as well as her former joint account with me but I was not able to see her accounts. (Of course I was not aware of this) One day I look in my mail box and I have a couple of overdraft notices from BOA . It was late about midnight so I would look into the matter in the morning. I keep track of what my balances are but thought it must be a glitch and I'm sure I will have the matter resolved tomorrow. The following day 4 more notices arrive . Now I'm pissed I check my a negative balance and find that my wife (who was never an authorized agent on my business account) was able to transfer funds from MY business account into her personal checking!! and at $35.00 each meant $210.00.

So I contact the bank and they tell me that were sorry the online element of our system is separate from us and all we can do is refund $120.00 of the fees. WHAT?! So I get a manager involved and he does some research and says well since you accepted the 120.00 of the 210.00 you agreed to settle. I DIDN'T SIGN ANYTHING AND WHAT DO YOU MEAN SETTLE WE'RE NOT IN COURT?! So now I'm asking what about the money that was stolen from my business account? ANSWER... You'll need to take that up with the judge handling the divorce. Wait a minute so if someone gains access to my buiness account and STEALS money that is in there I have to get the police involved and take them to court?! What a crock!! Where is the security? and why is she able to access my business account now which she was never able to access even when we were together.

To add insult to injury it gets even more ludicrous. I eventually stop all autowithdrawals and let the balance get to $26.17 and go to my home branch now to close out the account. Of course the Branch manager tries to keep me from changing banks because of our long term "RELATIONSHIP" which he fails miserably to convince me. I get my $26.17 from the teller and I'm on my way to open a new account elsewhere. About 2 months later I get another BOA overdraft notice and then a letter shortly after and get this for $26.17 and my BOA account is being forced close due to my negligence to pay this delinquent amount what the %$#@! are you serious? You screwed me and now I 'm the blame for your blunders?! I seriously hope that if there is a collapse in the Banking system that they fall the hardest!!
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User Replies:
trmn8r on 02/21/2011:
I for one hope we have no collapse of the banking system. The turmoil in the market in the last few years was enough for a lifetime.

It sounds like BoA is taking the position (right or wrong) that your wife has legal access to your account, and that you will have to pursue her for any funds she may have extracted from one of your accounts. I couldn't understand what happened with the final overdraft.
ticia232 on 02/21/2011:
Why are you only asking about the fees? Did you even ask about getting the money that your wife STOLE from you back?

Also, if you have proof you can take it to the Judge in the divorce proceedings and your soon to be ex, would have to pay it EVERYTHING back, fees included.

For what happened when you closed the account, take your paperwork that shows that you did close the account to a branch and it will be wiped from your record.
yoke on 02/22/2011:
BofA was wrong, but the issue is with the soon to be ex. Did you file a police report for the money she took out of your business account without permission?
clutzycook on 02/22/2011:
ticia, he did ask about the money his soon to be ex stole and they told him that he'd have to take it up with the judge in divorce court.

OP, get your lawyer on this, file a police report and make sure everything is well-documented so you can stick it to this witch.

You might also have a case with BOA as well.
leet60 on 02/22/2011:
Did the OP change the password for his online accounts? I would think that accessing the accounts would require the password.
MotleyCrueGuy on 03/15/2011:
99.9999% of the time at the bank I work for, when someone complains that an ex/former signer still has access, it's because they (the ex) is using a login associated with the other person's SSN and never realized it. Most online banking logins are associated with the SSN of the person, and will pull up any accounts they're on.


John and Jane open an account jointly. They set up online banking. The online banking at the time of set up is assigned to Jane because they used her debit card number to set it up.

John usually is the one who logs in however, and it's all good since they're married.

Later on, John and Jane split up. Jane removes John's name or just closes out joint account and opens a new one.

John logs in and sees her new account.

This isn't really the bank's fault, except perhaps for not fully explaining that online banking is assigned not to the account, but to the person.

Is that perhaps what happened here?
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Account closed and charged
Posted by on
BRONX, NEW YORK -- I opened an account at Bank of America 12/29/2008 hoping to transfer from Chase because I was looking to buy a home and decided I was going to use Bank of America. By 09/2009 I decided I was going to stick with Chase and went to close the Bank of America account on 9/21/2009. When I went to close it I was told that I owed $10.95 because I had already transferred the balance back to my Chase account. The $10.95 fee was for credit monitoring that I had on the account. I paid the fee so that the account was -0- and then told the teller I wanted the account closed. She went for another lady who proceeded to "close" the account, I should note that I've never closed a bank account before so when she told me that the account was closed and gave me my receipts for the payment I made I went on my merry way. On 03/02/2010 I received a letter from ERS solutions Inc. stating that I owed Bank of America $128.26, I called the bank to inquire what the charges were and was told that they were for credit monitoring. I informed them that the account had been closed since 09/21/2009 and asked how a closed account could be charged for credit monitoring. The representative told me that the account was not closed properly and that they were at fault and after giving all the details I was told that it would be taken cared of. I had not heard anything from Bank of America since after I closed the account to make me suspicious of the fact the account was still open. After speaking to the Representative in 03/2010 I had not heard or received anything further. Fast forward to 01/2011 I receive a letter from NCO Financial System about the same $128.26. I again explained the situation to the credit collector and contacted Bank of America only to get a run around, about how old the issue was and if I had resolved it sooner they would be able to give me a credit. They said they no longer have access to the information since its with a collection agency. I first called customer service who gave me the number to recovery services who couldn't help and told me to call customer service, which connected me to customer solutions that sent me back to recovery. They told me that if I had closed the account I should have received a statement saying it was closed, which I never got and since I never closed an account and they never said that when I went to the Bank to close it, I guess I have no proof I actually closed it. Other than the fact that I am not dumb and I am cheap and hell and would never leave an account for charged to be billed for no reason. Clearly they are trying to make it seem as if I am at fault when I've spoken to reps who told me they were at fault and now they try to turn the table saying I should have known that I had to receive a statement saying the account was closed. I have $128.26 that is in collection and I refuse to pay it because I spend my time and money monitoring my accounts and money to ensure I am not being scammed by individuals and it's the institutions that you trust to be trustworthy end up cheating you. I don't pay LifeLock and check my credit report trying to keep my name clear and myself debt free for Bank of America's billionaires to try to cheat me out of $128.26. They will get that money when I die. They can dig my body out of the ground and sell my body parts in order to get that money, but as long as I am alive they will not get that money. I've never owed a single person, or company for anything. I pay all my bills before they are due but I won't pay a bill I know I don't owe, I am not made of money Bank of America and if you heard otherwise then bully for you!
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User Replies:
tnchuck100 on 01/18/2011:
I'm with you 100%. I would not pay them either.
rockfishing on 01/18/2011:
I own some Bank of America stock. How do I get on the billionaire train?
trmn8r on 01/18/2011:
I LAUGHED in the CSR's face when she asked if I wanted to open my own BoA account, as I closed my mother's BoA estate account. I laughed right in her face.

Sorry if I offend anyone, but even this bank hugger thinks that bank sucks. Doing my mother's banking with them for four years convinced me of it.
madconsumer on 01/18/2011:
nco is bottom feeders. never speak with them, and NEVER give them a check, never give your account number, never give credit card number, nothing.

'if' you do decide to ever pay, use a money order.

madconsumer on 01/18/2011:
I have been with bank of America for 25 years. never had any issues.
Anonymous on 01/18/2011:
This story is so believable to me. Something similar happened to my daughter very recently. What a despicable institution. They will apparently do anything to get money out of people that they don't even owe.

I went round and round with them on my incorrectly applied mortgage payments last year. I thought it would never get straightened out until I was finally put in touch with a consumer advocate at their president's office. I never missed a payment. I was trying to make extra payments and they, oops, missed crediting my account properly.

Try a local bank, or better, a credit union. They offer all types of loans for low interest rates.
oldisgood on 01/19/2011:
I feel the same way as you. Actually I could have written that post. I feel strongly about paying "what you owe" and as strongly about "not paying what you DO NOT owe". I, too, pay everyone in full all the time and in advance. I am fortunate to have the resources to do so. I also only spend what I can afford and do not live on credit. I am very fortunate, I know
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Bank of America is sharing/selling your personal data
Posted by on
Bank of America shares or/and sells personal data of their customers with 3rd party scam telemarketers.

They're trying to sell BoA's products like "credit monitoring", "credit reports" and "credit protection programs" by calling you 6-10 times a day.

They won't take no for an answer. They just keep calling - if you're not interested, they will simply increase # of calls. After complaining (5 emails and 2 calls to BoA) the # of calls per day went from 5-6 to more than 12 (so far today)!!

But don't blame the telemarketers - it's all Bank of America trying to make some extra money by 1) selling leads (your personal data) and 2) collecting $$$ for the "product". Bank of America should be renamed to "Scam of America" - those people are pure evil. If you want them to stop selling/sharing your info - you have to fill out a privacy form buried deep inside their website and then wait 12 weeks to be processed. Of course by then your data will be available to 100's of scammers so it's pretty much all pointless.

If you're complaining, Bank of America will simply ignore you - you're nothing to them. They don't care as long as they make money of you. All you get is "fill out this form" and "wait 12 weeks before we stop selling your private info to scammers/spammers".

If you think your personal data are safe with your bank think twice: read again BoA privacy statement. Fine print says BoA can share your personal data with 3rd party companies until you say otherwise.

Canceling your relationship with Scam of America won't fix this problem - if you're not their customer anymore, they will just go all out and sell pretty much everything they can about you to all kinds of criminals.

So if you're already a client of this scam company - there's no way out.
If not - STAY AWAY!

UPDATE: more than 20 different CSM people in Bank of America told me they're NOT SHARING ANY personal data with anyone outside the bank. But 1 of them finally stopped lying - here's my chat transcript with Lore.

Chat Information
Welcome to an online Small Business chat session at Bank of America. Please hold while we connect you to the next available Small Business Specialist. Your chat may be monitored and recorded for quality purposes. You are number 1 in a queue of 1. Thank you for your patience.

Chat Information
You are now chatting with Lore.

Welcome to Bank of America. How can I help you complete your online application today?
Lore: Welcome to our Small Business Chat where I will be happy to help you find the best accounts to fit your business needs. I can help you open your business checking and savings account. How can I help you to get started today?

You: Hi. I'd like to know what kind of personal data are you sharing with 3rd party companies.
Lore: We do not share any personal data to 3rd party companies.
You: Well that's a lie isn't it?
You: Even your own privacy policy says you do
You: After giving you my phone number - I'm getting 10+ calls a day from your telemarketers.
Lore: We only share it with our own company.
Lore: I am so sorry to hear that.
You: Again it's a lie - you are sharing with 3rd party companies. Let me find it for you
You: Bank of America may share Customer Information we collect from you online with our family of companies and with companies that work for us. All non-affiliated companies that act on our behalf and receive Customer Information from us are contractually obligated to keep the information we provide to them confidential and to use the Customer Information we share only to provide the services we ask them to perform. These companies may include financial service providers such as payment processing companies, and nonfinancial companies..... blah blah
Lore: May I ask, is it a personal account or business account?
You: Would you please answer my question?
Lore: We do not have the system to view account information within these chat sessions.
Lore: As stated, we ONLY share information with the companies we work with like our vendors for checks.
Lore: We do not provide it to the other companies that does not have anything to do with us. This is what I have mentioned earlier.
You: You said you're NOT sharing any information with 3rd party companies
Lore: Yes, that is right.
You: What about "non-affiliated companies that act on our behalf and receive Customer Information from us"?
Lore: We share it because they need it to process the product BUT NOT TO call you and sell to you.
You: So basically you're saying your privacy policy is a lie?
Lore: All non-affiliated companies that act on our behalf and receive Customer Information from us are contractually obligated to keep the information we provide to them confidential and to use the Customer Information - we share only to provide the services we ask them to perform
Lore: Again, it says, to provide the service we ask them, and not to sell.
You: OK finally we're getting somewhere - so you're in fact sharing information with 3rd party companies such as scam telemarketers to sell you products like credit reports, insurance etc?
Lore: We provide it to them to PROVIDE THE SERVICE we ask them and not to sell to you.
You: OK doesn't matter. You answered my question - Bank of America IS sharing customer data with 3rd party companies. Thanks. Now - what kind of data?
Lore: Names, address, telephone number.
Lore: please click her to set your privacy choices
You: Well I did that already, but apparently it takes 12 weeks to process it and by then more and more scam companies will get my personal data from you and probably will sell it to another 100s of scumbags.
You: Alright. So here's how it works: you take your customer's personal data and share it with some telemarketing companies - you ask them to call your customers 10-12 times a day and keep calling even they're not interested. Is that right?
Lore: I will be right with you.
Chat InformationChat session has been terminated by the site operator. - I guess Lore got owned by her boss. :(
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User Replies:
Obsfucation on 10/12/2010:
I have accounts with BoA for many years, and never gotten one of these calls.
Anonymous on 10/12/2010:
I get those calls but maybe one every 2-3 months. I get them from all of my credit card companies. Pain in the butt.
madconsumer on 10/12/2010:
I have been with bank of America for 25+ years, never had anything like this happen to me.
MRM on 10/12/2010:
Here here, madconsumer!
jktshff1 on 10/12/2010:
mad is always (uh most of the time) a voice of reason.
DebtorBasher on 10/12/2010:
It really doesn't matter if someone else has never had this problem with them. The point is, the poster of this complaint DOES, therefore they have the right to complain without being looked at as if they are making this up. The poster is just venting a complaint which is what this site is for.

Thanks for the review.
Send them a letter (not an email) and tell them you don't want any 'promotion' calls. I've done this with several companies and they have honored my request. It won't hurt to send one to BOFA.
Venice09 on 10/12/2010:
I don't even have to read the review to agree with you, DB. Other people's experiences really don't matter and it certainly doesn't mean the OP is making it up.
jktshff1 on 10/12/2010:
DB, you must be sick, you are making sense.
bob932304 on 10/12/2010:
Me too - been with BoA for many years - never gotten a telemarketing call.
leet60 on 10/12/2010:
It might or might not help but put your number on the do not call registry -

If they continue to call after 31 days:

File a complaint. If your number has been on the registry for at least 31 days, and a telemarketer calls, complain to the FTC. Visit DONOTCALL.GOV or call 1-888-382-1222 (TTY1-866-290-4236). You’ll need to provide the date of the call and the phone number or name of the company that called you.

All that said, I have no doubt B of A is sharing this information. From the tone of the chat posted they claim to insist the information is not used for selling but then put the onus of enforcing this provision back on the consumer.
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Holding Check Wrongly Ruining dream
Posted by on
OKLAHOMA CITY, OKLAHOMA -- PLEASE READ, WE HAVE TO TAKE A STAND AGAINST PEOPLE LIKE THIS!!! I know its a page and a half but its important! I recently decided to purchase a home. I am 21 years old and had a difficult childhood throughout my entire life. I have been on my own since the age of 15 and until I was 18 I was living in some pretty bad apartment complexes that would let me do cash month to month leases.
I have a great job now which I love more than anything in my life and I am successful and make about 35,000/ year. (Which at 21 I feel very lucky to have, especially in this sort of economic crisis we are in!) Anyway, I am having to do an FHA loan through Wells Fargo because of my debt to income ratio. Wells Fargo has been great through the process but because it is FHA I have to have COMPLETELY VERIFIABLE funds. Well, I decided to sell my motorcycle, which was paid off, in order to have the money I needed for my down payment and closing costs. I sold my motorcycle for $7000.00. I received a check for this amount and deposited it into my Bank Of America account, which I have had for ALMOST two years. (One year, 10 months) They told me because the balance in my account couldn't cover the check they would put a hold on it and half of it would be available after two days and the other half after four. (Deposited on the 20th, supposed to be half cleared by the 22nd!) I agreed and deposited the check. Two days went by and I didn't see the Pending turn into a POSTED deposit. I waited another day to see if maybe there was a small hold up....well turns out they decided to put an "extra" hold on it. I called them and they said there was nothing they could do and that the extra hold would be until the 29th (it was supposed to be half cleared on the 22nd!) When I won the bid on the house I had previously asked the seller to give me a bit of time to sell this motorcycle so that I could have the down payment and closing cost up front instead of getting down payment assistance and he reluctantly agreed and my extension was until the 24th!!!! So here it was the 23rd and I had until 5 pm the next day to put my earnest money and down payment etc down so that wells fargo could have time for fha to verify my funds.

I went to the local bank who the check originated from first then I went into a local branch of BANK OF AMERICA on the 23rd and I took with me a copy of the ***CLEARED CHECK AND STATEMENT FROM THE BANK WHO WROTE IT SAYING IT HAD CLEARED THE DAY BEFORE IT WAS SUPPOSED TO BE RELEASED BY BOA.*** (The 22nd!!!!!!!!) Despite the fact that I had this paperwork, they needed to call the other bank and verify. Which they did. They talked to a manager there, and he personally faxed them a copy of the cleared check and a statement ON A LETTERHEAD FROM THAT BANK saying the check had cleared and could not come back for any reason. The girls at bank of America called their boss, their bosses boss, etc and I was there for about 2 hours. Despite all of this information they "could not" release the hold on this check. I had not had a backup plan at this point so I asked the seller for another extension for another few days. He refused because someone else bid on this house two days after him giving me my extension and I lost it. I had gone through everything, the entire paperwork process, getting my taxes, pay stubs, employment verification, home inspection, termite inspection, appraisal fees had been paid etc. And here it is late October and there is no way for me to find another house, get all of the process done AGAIN before the $8000.00 tax credit expires, etc. I have lost the house I completely fell in love with, that I have worked for years to own, and that I truly feel like I deserved. I have worked so hard to have a better life than my family provided me with when I was young and Bank of America has taken that from me. I lost the house I loved, the house that was best for me. It had everything I wanted in a house! I lost the opportunity to take advantage of the $8000.00 tax credit, and I have lost the joy and excitement of owning my first home. Oh and by the way.......the hold is still on the check. So thanks a lot bank of America. I am glad to know that you guys care so much about Americans. In my opinion, they make INTEREST off things like this and that's probably why they do it. It breaks my heart to know that I have cried all day over this damn house and someone who gets paid hundreds of thousands of dollars a year will never know the pain I feel right now knowing how hard I have worked for this house, how hard I worked to buy that motorcycle that I loved but was willing to give up so I could have a nice place to live and to have the deposit I needed to put down WITHOUT GETTING DOWN PAYMENT ASSISTANCE BECAUSE I THOUGHT THERE ARE OTHER PEOPLE OUT THERE WHO MIGHT NEED IT MORE THAN ME AND WHEN I HAVE A LUXURY ITEM LIKE A MOTORCYCLE I DIDN'T THINK IT WOULD BE FAIR TO TAKE ASSISTANCE FROM PEOPLE, how hard I worked for the money I already paid the realtor to hold this house for me, the money I paid for home inspections and termite inspections and appraisals, and how badly I dreamed of owning my own home. They have completely ruined this experience and I have never been more depressed. I looked at 38 houses and found one that was functionable for me, only 93000, which I could afford a payment on, and that I truly loved and thought I could live in for a long time. Now its someone elses and unless I start this entire process over again, AFTER THE CHECK HAS CLEARED, I won't get a house anytime soon. Not to mention that interest rates have gone up two weeks in a row and every article I have read says they will go up again in November. Thank you Bank Of America, you really do serve the American people don't you? My hope in good people and the "American dream" has suffered quite a bit today. So now I will go to sleep, and wait for my check to clear, WHICH DESPITE THE LETTER HEAD STATING IT HAS CLEARED THE OTHER BANK, THE COPY OF THE CLEARED CHECK, THE OTHER MANAGERS AT THE OTHER BANK TELLING YOU IT CLEARED, AND ALL OF THE OTHER PAPERWORK I HAD, YOU STILL CANNOT RELEASE THE HOLD. Its such a shame that customer service in my opinion no longer exists! Especially at a company that calls themselves BANK OF AMERICA! I lost my house because of you. Thanks a lot.
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User Replies:
Anonymous on 10/24/2009:
OK...Congrats on your home and life. Now, here is how it works:

You have a check for $7000 that you deposited in your account, which has probably never had that amount in it at one time. The check is a personal check from another individual. The bank wants to put a hold on it to verify funds before releasing it. They give you access to half, which is probably what your account can cover, or what you have had in your account in the past.

Now, the 2 days is NORMALLY business days. IF it takes longer, that usually signals an issue with the PAYEES bank. The fact that the check cleared the PAYEES bank before yours is NOT unusual. THAT is how it is happens. The money comes OUT of his account before it clear yours.

If you were regularly cashing or deposi9ting $7000 checks, they would not have blinked. I have been with BOA since they were Sovran bank in the 90's. I regularly have checks in my account up to about $3000. They put a hold on a $10000 insurance check. They know I can cover a couple grand, but will not take a chance on 10 grand. I did NOT find this unreasonable.

Had they released the money, and the check bounced, they would have had to fight YOU for the money. Ask yourself this: Would YOU have risked $7000 of YOUR money on a CHANCE?
Anonymous on 10/24/2009:
Your complaint would be taken more seriously by all concerned if you left out the fiddle playing stuff, "I am 21 years old and had a difficult childhood throughout my entire life. I have been on my own since the age of 15 and until I was 18." Just stick to the financial facts when dealing with businesses because your difficult childhood is rather irrelevant here. I am hoping that when you speak to these banks that you don't bring up your past as you did above. I mean this kindly, no harshness intended.
tnchuck100 on 10/24/2009:
LadyScot, if you would have bothered to read the review in its entirety you would have seen that the check HAD ALREADY CLEARED and could not bounce.

This is probably one of the worst (maybe I should say best) examples of Bank of America's ability to make life miserable for someone just because they can.

They should have released the funds the instant the check cleared the bank it was written on. The fact that they would not even after you provided proof is unconscionable.

They have probably not violated any law here but they have, without a doubt, shown there true colors. They are one sorry financial institution.

I think you review was well written. Even with the extra details.

Hang in there. You may well end up with a better house in the long run. Good luck. And stay as far away from Bank of America as possible.
MaggieMcT on 10/24/2009:
I think we all understand about holds. But when there was PROOF from the issuing bank that it had been cleared, for BoA to continue the hold was nothing but pure "we will because we can."
madconsumer on 10/24/2009:
if the seller accepted your bid, and depending on your contract details, the seller was wrong to accept another bid. if your contract was conditional, as it sounds, the deller was right to move on.

when buying a house, it is best to work with a qualified realtor, and to have ALL you money and finaces in place BEFORE house hunting.

just remember, the 8,000$ dollar credit is still available, and that perfect house is still out there.

"A tax credit of up to $8,000 is available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009."
Anonymous on 10/24/2009:
Maggie. there is really no such thing as 'proof' of clearing. A check could clear the originating bank, as this one did. There is still a period of time they can reverse it. Suppose the person or company who owns the account calls the bank after seeing the check clear online and says 'I never wrote that check'?

When an account has no history of this type deposit, and given that checks of this dollar range are rampantly fraudulent, a lot of banks will use their elgal option to extend the hold.

A cashier's check would have saved a lot of grief in this situation.
jktshff1 on 10/24/2009:
BA tnchuck.
bcd on 10/24/2009:
When BofA told the OP that there would be a hold on the deposit s/he simply could have taken the check to the drawer’s bank and cashed it on the first day. That would have taken less time than writing this review, which is mostly hot air.
yoke on 10/24/2009:
Once the OP realized there was going to be a hold on the check and it was cutting it close the OP should have gone to the bank it was written off of and cashed it.
Anonymous on 10/24/2009:
Chuck, I did read it and you are wrong. The check cleared the WRITERS bank, but the funds were NOT in BOA's hands yet. The period of time for clearing BOTH institutions is usually a few BUSINESS days.

It took 6 business days for our insurance check to clear OUR account and the funds become available.

The writer could have stopped payment anytime on that check, it could have been a stolen check book, etc before it cleared the OPs bank and then it would have bounced the OP's account. Again, would YOU take a $7000 risk from someone with a $3000 recovery history?
tnchuck100 on 10/24/2009:
LadyScot, you are still ignoring given information. No surprise there. The other bank did verify the validity of the check to BofA.
Anonymous on 10/24/2009:
BOA verified FUNDS available. Which at the time they can be. Let me write you a check for $7000, your bank can call and verify the funds are there, then when they do, I will clean out my account and your check will BOUNCE.

The check has to clear BOA FIRST. The funds have to transfer from the writers bank to the receivers bank to clear. How is this not registering to you?
tnchuck100 on 10/24/2009:
LadyScot, why are you so dead set on ignoring the facts? The bank the check was written against had already debited the account the check was drawn against and had already released the funds to BofA. Again, you are one of those who simply MUST find fault with the customer. Ignoring as many facts as possible to achieve that goal.

BofA unnecessarily screwed this customer!
Anonymous on 10/24/2009:
Chuck, the check may have cleared the OP's bank. The funds may have been released. They had not been received by BOA yet.

We will not agree. You are a bank hater and assume I am a bank defender. I don't know why this is so hard to understand.
Ponie on 10/24/2009:
Congrats on wanting to buy your own home at such a young age. However, as you've learned by now, it's always best to have your financing completed before putting in a bid.
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