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Deposit Holds - Inconsistent and Unfair
Posted by Moneytalks on 02/04/2009
PALO ALTO, CA -- I have had several problems with Bank of America policies since opening accounts here.
Yesterday I deposited two checks within 3 hours of each other,
one at a teller and the other at an ATM. The first cleared immediately, the 2nd is on hold for 5 days. They were both written from a local brokerage account. When I checked with customer service they told me that THIS IS THEIR POLICY.

Be Warned: If you are going to need the money, use a teller!
     
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Posted by tnchuck100 on 2009-02-04:
If you are going to need the money, use a different bank.
Posted by Anonymous on 2009-02-04:
Only...but BEST answer.
Posted by madconsumer on 2009-02-04:
if these are hand written checks, then yes there is a hold.
Posted by Anonymous on 2009-02-04:
LOL Chuck!

Out of curiosity Mad, what would make a hold on a hand written check longer than a check that is not hand written or one that is computer generated?
Posted by Anonymous on 2009-02-04:
Deposits in an ATM *always* have an extra day hold, if not more. The machines only get emptied once a day, and in remote locations less than that. This is pretty standard practice at all financial institutions, and will be spelled out in the FI's Funds Availability Policy. You get a copy (by law) when you open an account, and it must be posted in every branch.
Posted by nobofa on 2009-02-06:
If you need the money that bad, why not just cash the checks at the bank their written on??
Posted by hatecrooks on 2009-03-17:
Office of the Comptroller of
Currency
Customer Assistance Group
1301 McKinney St., Ste 3450
Houston, TX 77010
1-800-613-6743 or email: customer.assistance at occ.treas.gov
COPY TO:
FDIC CONSUMER RESPONSE CENTER
3245 Grand Boulevard, Ste 100
Kansas City, MO 64108
Fax #703-812-1020
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Making Home Affordable is a Scam!
Posted by Cebikin on 01/13/2010
I started my process in April 2009 and have been getting the same run around as everyone else. They recommended that I pay half my mortgage for 3 months as part of a 3 month trial period prior to beginning the Making Home Affordable process. After the 3 month trial period was completed in August, I received a very nice letter from the Sr VP of the Home Retention Division who seemed excited to assist me and recommended I call them right away to get started with the MHA! Yeah! It has been a nightmare ever since... I gave them my financial info over the phone, three months later I was told I was supposed to fax it and then later I was told to mail it. I have over 30 phone calls to date trying to get qualified. In December, I finally had an agent assigned who told me I needed to set up an escrow for taxes and insurance in order to proceed with the qualification process. On December 28th I was denied qualification due to an agent error who doubled up my mortgage and car loan payments which created an excessive monthly expense and thus disqualified me. They are now in process (supposedly) of re-reviewing my qualification after recognizing the error. Here's the kicker... Due to the erroneous disqualification they have done the following: a)sent me a letter demanding payment of my 3 month half mortgage balance due by January 27th or default; b)blocked my access to my mortgage information on-line with a notification that I am delinquent on my December and January mortgage payments and will go into default if not paid by February 11; c) calling me daily via automated voice response saying I am delinquent and need to remit payment immediately; and d) best of all, they have erroneously doubled my escrow amount on my next mortgage payments. Bottom line, instead of assisting me with a reduced mortgage payment they have made matters worse by increasing my payment with an erroneous escrow. All they care about is BAC profits - I got nothing and now they're going to hold my money all year for escrow and make 20%+ interest on some other poor soul. I GOT DUPED!!!
     
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Posted by goduke on 2010-01-13:
You might want to give them a chance to correct the error.
Posted by Fufu487 on 2010-01-13:
they may, MAY, correct the faults of their errors. Alot of banks do once it's obvious they made the error, and you had no part in the error being made.
Posted by ron65ron on 2010-12-01:
Let me tell you that the same thing has happened to me! They DO NOT CARE. Money is money to them and the accounting practices they use are boarder line illegal. Yes they accepted TARP money and are supposed to help people, but THEY DO NOT. They had my financial info all mixed up as well and did nothing to correct it. Bottom line, if your able, get out of Bank of America, they are the worst bank in the country.
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Holds Checks when they feel like it....charges too many fees
Posted by Ckennedy124 on 01/21/2006
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 up until it's 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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Posted by crewboy on 2006-01-21:
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.
Posted by ckennedy124 on 2006-01-28:
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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They lost TWO deposits!
Posted by SusannaMehta on 05/14/2006
CHICAGO, ILLINOIS -- Hi there, my name is Susanna *****. We have a nightmare to relate about Bank Of America deposits being "lost".

It all started about a month ago when I decided to sign my $2500 loan check out to my husband's bank account. We deposited the money in the ATM and thought nothing more of it. We had done this same transaction dozens of times with no problem.

Then came the note in his account that, "Payee not on account". Thinking that it was a simple mistake, we went to the bank branch to work it out. There, we found out that they claimed to have already mailed the check back. Only they didn't know if they had mailed it back to us, or to the issuer. So we had to wait to recieve the check, which wasn't going to be easy to stop or to reissue.

The check never arrived at either destination. Fortunately, we had contacted the issuer, paid the stop-payment fee, and paid to be reissued the check. (not to mention paying on a bounced money transfer to India!) They asked us to mail them the cancelled check should we ever recieve it. We never did.

So we changed the account to reflect my name as well as my husband's. We were assured that this could never happen again.

Three weeks later I deposited my daughter's Social Security check. It was to be paid in my name. I was clearly the payee. So I signed the check, and deposited it in the ATM.

Four days after that, we again recieved the same note, "payee not on account". Hoping to God that they didn't send this check out, I called the bank, only to recieve a callous note that my name on the account had been erroneously put as "Susanna *****-*****" instead of "Susanna ***** *****", and that screwup meant that the check in the name of Susanna ***** was rejected. Ok, so the check would again be sent to us, and we woudl simply re-deposit it, right?

WRONG. Not only did the check never arrive, but according to Social Security, it had been cashed in another state outside Illinois. The bank refused to take responsibility, and white SS will issue another check, I don't know what I will do about the one which was cashed. I did, after all, sign it! Thinking that it was going to be deposited into OUR account, I never thought that the Bank of America would LOSE it and that someone, possibly an employee of that same bank (after all, if it had been "lost in the mail", wouldn't it have been cashed here in IL??) might actually steal the deposit outright.

After speaking numerous times with officials at the office of the CEO of Bank of America, we have still never recieved any satisfaction. Nobody is admitting to any wrongdoing, and I may have to pay that money back to social security. I am really upset about this, as it is the second time in less than 30 days that it has happened. Obviously, something bad is going on at Bank Of America!

The contact information is this:

I first talked to the manager at Bank of America IL1-111-01-01
963 W Belmont Ave
Chicago, IL 60657
(773) 244-3093

Then after getting a pretty snotty response, I called:

Jan (pronounced "yan") Montero at CEO of BOA
(813) 882-1142

Then spoke to Leilani Southern, same CEO of BOA at
(704) 386-5687

Jan reimbursed us for the many fees we encountered after the $2500 fiasco. But he refuses to acknowlege BOA's fault in losing and/or stealing our social security check.

Leilani Southern was very obliging, and she said she would get back to me. She never did.

And that's where things stand. The scary part is that I wonder how many other customers have lost deposits to BOA?
     
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Posted by Anonymous on 2006-05-15:
Hi, Susane first of all...do it now...eliminate your last name because you've given the identity thieves more information to comit fraud against your account . Login in my3cents and click in the middle of the page to edit out your last name. NEVER POST YOUR FULL AND LAST NAME to a public posting you're asking for big trouble. You also might want to find a credit union who are for most part more liberal to deposits.
Posted by CrazyRedHead on 2006-05-15:
Also, get you social security check direct deposited. Never deposit anything through the ATM, If at all possible, go into the bank to deposit it.
Posted by Ponie on 2006-05-15:
What's with this junk of the hyphenated surnames? Don't like the surname of the man you intend to marry? Don't marry him! Sheesh.
Posted by rhondam718732 on 2006-05-15:
Ponie: You are getting me off track, but what a silly comment you made about the hyphenated name...get real. Try changing your name entirely and see what a MESS it can be...then maybe you'd understand why some women don't and/or still hyphenate...
Posted by Ponie on 2006-05-16:
rhonda, you hit on something I once did and I know exactly just what this entails. However, it was a complete change of my given name. So, Ms. (which is the abbreviation for miserable) Jones marries Mr. Smith. She decides to become Ms. Jones-Smith. They have a daughter. Is she Ms. Smith or Ms. Jones-Smith who later marries Mr. Black and becomes Ms. Jones-Smith-Black? Please note in the above letter a problem arose because of the omission of a hyphen!
Posted by broke on 2006-05-25:
CrazyRedHead is absolutely right. If you can do direct deposit, do it. But, if you can’t then when you endorse your check next time, write underneath your name & account number, “For Deposit Only”. I feel lucky now. Bank of America is only trying to screw me out of $130.00 in overdraft fees after telling them not to let anything else go thru.
Posted by Kathy2006 on 2006-06-12:
Going inside the bank and having a teller process your deposit is not necessarily safer than the ATM. I know. I had a teller AND the branch manager process my escrow check for 348k, and B of A STILL lost it.
Posted by BOA EMPLOYEE on 2006-06-19:
It is stated in your account disclosures that BOA dose not except third party checks. (that's when the check has the name of someone not on the account) Now most ATM deposit are processed by a machine and they do get thru every once in a while. However UPON an audit of the machine if one is in there at the time of the audit it will be returned. Now since we have put this in your disclosures, and you should have read them, it is not a bank error that the checks got returned out of the account. Most times the checks are returned to the issuer not the person depositing them, since the person depositing them isn't the payee of the check. So since they get mailed back to the issuer, all you get is a letter stating item rejected/returned for payee not account. Again this is not a bank error.
Posted by smoothylee on 2006-06-22:
I have had a similar thing happen. I have been a loyal customer for over 10 years and was temorarily working in another state. I live in California normally. I deposited a paycheck into my account through the teller inside and 2 months later I get a letter from them saying they have debited my account for the amount of the check, they accused me of double depositing the check (once at the teller, and once at the ATM) and they wanted no questions asked. How can they just debit my account and assume that I was wrong?? Talk about no customer service skills, no loyalty. After days of research, I got ahold of the payroll company that i was working for, they told me that that specific check in question never cleared their records. The only answer is B of A took my check, and it was misplaced somewhere between the deposit in the other state and California. It never was deposited into my California account. When I called to try to clear it all up, they transferred me from person to person. I was treated poorly- they said things like, "well you only got paid twice a month right?" And I thought, that's not the issue!!! Let alone I was paid weekly. They threw my loyalty out the window on this one, and I have decided to go to another bank. What a pain they have caused me. Now I need to transfer all my bills to my new account and deal with holds because of their incompetence. I plan to write to the top to show my displeasure. I am sure I won't get a response other than, "I am sorry for the inconvenience." Whatever....
Posted by taviles on 2006-08-24:
BOFA always has an excuse for something not working out right. Why we do not see as many postings from other banks like BOFA has?

BOFA has screwed up my direct posits when I was in the ARMY and these are federal fund deposited directly to my account and their excuse was computer glitches.

Posted by Dog_Lips on 2006-09-24:
BofA sucks.

I am in the same boat on 9/07 I deposited a check for $1800 dollars through the ATM of a local BOFA account. On 9/19 or 9/18 I received my monthly statement and it had a Miscelenious withdrawl on the same day as my original deposit on 09/07/2006 for $1800. So I promptly called the BofA Customer Service to see what the problem was and they said that the check had been withdrawn because of improper endorsement and that it was sent back to me via the mail so I should be receiving it by this Friday 09/22/06 which was 10 business days. And I think you know what happens next.

So I didn't receive the returned check on Friday so now I call BofA again on Saturday 9/23/06 at 1:00 pm and the customer service has no idea what has happened to the check and they don't know why I never received a letter stating that they had to withdrawl and send it back.

So now on Monday morning I have to go into the branch where I originally deposited the check and inquire where the hell my check went. The worse part is that it was from my tenant for a months rent and it was a cashiers check so if I can't find the check or where the funds went I will probably have to file a Fraud suite against them with the local police department because I heard, contrary to popular belief, that banks hate dealing with the police because it tarnishes their image. So hopefully they will be able to find the check but if they can't I am definitely filing a fraud suite against them.

Have any of you tried this?

:-(
Posted by LadyJay114 on 2007-04-26:
One thing I stopped doing a long time ago was making deposits into ATMs. I used to have issues frequently using this method. The problem with making deposits in ATMs is you dont know where your check is going or who's handling it. Also, you can't even prove to the bank that you actually put a check in the machine. I do all deposits now at the teller. When you go to the teller, there's all the proof in the world that they received your checks - the transaction is on camera, you know which teller took your deposit, the teller stamp acknowledges your deposit copy. The bank is less likely to screw up. Since changing the way I deposit, I've never had problems.
Posted by AndrewD on 2011-01-13:
I will never make another deposit into an ATM. I deposited a check today into a Bank of America ATM. The machine didn't credit my account and didn't return the check. Tomorrow I will try to stop the check. I called customer service at Bank of America and they were not helpful at all. Bank of America sucks.
Posted by MikeM on 2013-02-23:
Bank of America lost one check of a multicheck deposit that I made to a teller. The coveted receipt from the teller gave me was no help. I was told that it meant nothing. Check disappeared and was never cashed.
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Most horrible bank out there
Posted by TikaT on 03/24/2006
Don't even look at BoA for any kind of account unless you are very rich. They treat hardworking people like trash. They charge fees for everything they possibly can, and use sneaky tactics like lining up your purchases, largest to smallest with the hopes that you might forget the $1.45 cup of coffee you had and go over your checking limit so they can hit you with outrageous overdraft fees. Now, I take responsibility if I go over my limit and will pay the overdraft fee, fine - but using their system of largest to smallest transactions, instead of one fee, I could get as many as 5 of them...all for a cup of coffee.

Seriously, their online banking system is the worst. Your balance is never correct. In fact, it tends to be more than you actually have. One of the reasons online banking has been marketed as being convenient is because it was supposed to free people from having to write checks and carry around a registry. I have always successfully tracked all my debit transactions in my checking account online at other banks. That's because they listed charges as they got them, in real time. And if a charge was pending, it would still be subtracted from the total balance leaving me with a correct total amount. Everyday, I check my balance, noting the purchases I made and how much I have left. That is the registry. The real time account list IS YOUR REGISTRY.

Now here comes Bank of America, who I couldn't avoid because my older bank was acquired. Most people who do a lot of online banking use the system just as a registry - in fact, all three banks I've had before (all large banks) had the same system and it worked correctly - so why shouldn't BoA's system work any differently?

With BoA, transactions I would make would "appear" on my online banking statement in real time, the day I made them. That was great. However, the next day maybe one or two of the transactions that had appeared (and were pending) the day before, have now disappeared. This temporarily makes your balance more than it should be. Now, if you use the online system for what its intended for (as a registry of transactions you have made), its very easy to forget a purchase you made because it isn't listed anymore. It might be a day or a week before that transaction magically comes back and is deducted from your balance. By then, you've probably used up more money than you had because you thought you had more, and they stick you with overdraft fees. That's how they make their money. I have NEVER had this problem on any other online banking system. EVER. Smells like a scam to me.

Another thought about online registry versus paper - in this day and age, with debit cards taking over the concept of a check, with electronic bill pay services and with online account access why would it be convenient to track transactions on a separate piece of paper? I mean, isn't the whole point of having online "banking" is to give you a place where you can write electronic checks and have transactions recorded for you? So you have everything in one place? I remember hearing somewhere that BoA was confronted with this issue and said something like "customers should not use online banking to keep track of transactions." That's a lot of bull. They are saying that to cover their tracks about their horrible business practices. Like I said before, all three banks I've dealt with before had correct, real time, online transaction tracking. With all of its power, size, and "up to date" technology, you'd think that BoA would have the most accurate online technology that I was using 5 years ago at a different bank.

Point blank, your online statement should accurately reflect what amount you have available and what transactions you have made. Even if you track your money the old fashioned way on a piece of paper. Don't you deserve accuracy as a customer?

Take that along with listing transactions from largest to smallest and you are just swimming in fees. Don't go here. Do yourself a favor and find a credit union or community bank that will treat you with the respect that you deserve.
     
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Posted by crabbie74 on 2006-03-24:
I agree. I was with them for several years until I got fed up at all of the fees they were charging me for everything under the sun. Once I made a deposit at the ATM and my addition was wrong so they charged me for it. They suck.
Posted by CrazyRedHead on 2006-03-24:
I have been with Bank of America for almost 20 years, three bank changes and before there was any online banking. I will never let anyone take control of my check book. I religiously keep my checking register and have never had any trouble. When I write it in the registry, it is as though it is gone. Even if it shows up and then disappears. The Online banking system is NEVER meant to take over your registry, and if you allow it to then you will always have trouble. I have had a few overdrafts over the years, but is due to my own miscalculations. Irregardless of how they post my transactions, there has never been a problem. Never have I ever accessed any type of fee in all of the 15+ years that I have been with them. Most of banking customers cannot manage a checking acct and they try to blame this on the banks.
Posted by Anonymous on 2006-03-24:
No bank has _ever_ said that online banking eliminates the need for you to keep a check register. That's just plain absurd.

When you make a debit card purchase, the merchant places a hold for some amount on your account. That's the pending transaction that you see. Some merchants, however, do not place the hold for the accurate amount, or, they are not efficient about processing the actual transaction. For this reason, banks automatically drop the hold after a period of time, in case the actual charge never comes in. In the case of BoA, it is 24 hours. The credit union where I bank does it in 3 days. It varies.

Because you can never know online if the merchant processed the transaction for the actual amount, or if the actual sale has cleared, you just cannot rely on online balances. The prupose for them is to help verify the amount you have in your book, not to replace it.

BoA is a commercial bank. They exist to earn money, if you allow yourself to be liable, they will take advantage of the situation you created. You might think of trying a more consumer friendly environment, a community bank or a credit union.
Posted by Ponie on 2006-03-25:
This is a new one for me. I never heard that online banking was supposed to replace your check register! I use online banking to eliminate the hassle of writing and mailing checks. I also check my account at least twice a week to make sure there are no incorrect withdrawals made. In my entire lifetime I've been hit with NSF fees only once. The bank paid all checks rather than return them. I went in to talk to the branch manager. We discussed the error I committed in transferring funds during a grief-enduced haze. All NSF charges were removed. I wish the poster could cite the advertising the bank does telling us we no longer have to keep a check register. Don't be so free with your spending and not keeping track of it. Learn to live beneath your means.
Posted by crewboy on 2006-03-26:
First of all, you should not be using online banking as your sole means of recordkeeping for you checking account. Yes, online access to your account activity is a wonderful and very convenient thing. However, you still need to keep an accurate and updated record of your transactions in your checkbook register. As you stated, certain times a transaction will not show up for a few days and you need to make sure that you don't overdraw your account, hence the need to record this into your paper register beforehand.

Secondly, what would you do if your computer crashed or if the server crashed at the bank due to technical issues? If you didn't have access to your account online you would have a serious problem if you weren't keeping it updated on paper as well. The online banking is another tool you have to help make banking easier for you, it's not meant to replace your paper records and it shouldn't be used as such.

I had a checking account for many years before I started using online banking. The difference now is that I can access my account on a daily basis and reconcile my checkbook balance with the online balance, similar to what I used to do once a month when my paper statement arrived in the mail. But it's a lot less of a headache now because a small arithmetic error can be caught within a few days instead of letting an entire month go by as was the case before online banking.

So please, continue to keep accurate records on paper and use the online banking as the tool it is intended to be. Reconcile your balance every few days while being sure to save receipts and enter them into your checkbook daily. Also monitor your account regularly online so that you can catch fraudulent transactions earlier on, rather than having to wait until your monthly statement comes in the mail.
Posted by TikaT on 2006-03-27:
Just wanted to respond to people's comments - I have only been charged an overdraft fee once in my entire life..that is when BoA took over my account after it bought out Fleet bank a little while ago. Everything had been great until a week or so later, two transactions slipped off into oblivion and didn't resurface until weeks later. Since my account balance was always correct with Fleet, it was my fault to think that it would stay the same with BoA.
Like I said in my post, I have never, ever seen such a crude online system like what BoA has. Yes, merchants put holds on transactions and sometimes transactions don't show up until a few days later depending on the business - but 85% of all my transactions I have ever made in the five years I have used online banking have shown up immediately. The amount of the transaction, regardless of whether or not is was on hold, was always accurate and taken from my account balance at that moment until it was no longer on hold. And, when I go to a merchant (like a gas station) who tends to hold off on transferring a purchase for a day or two, that's fine. I take note on an excel spreadsheet which I check daily.
To me, it doesn't make sense - I don't have a checkbook with a registry because I don't write checks. I shouldn't have to count little slips of paper...I haven't had to do that for FIVE YEARS. It wasn't until BoA's system took over the reliable system Fleet bank had that these problems surfaced.
Five years ago, Fleet's online system tracked all transactions and deducted them from my balance even if they were on hold. I never had a merchant charge me more than what I paid for temporarily either. Transactions never "disappeared"...that is ridiculous. At least if BoA kept a record of every transaction you made (even the ones that were going to disappear) maybe I would be more sympathetic. But they make it look like certain transactions never existed. That is designed to trap you. I never, ever had that happen to me before. You'd think that the online technology they use would be better than what was available five years ago, but nope.
Anyway, I found another bank that has the same system that Fleet did and I have not had any issue with disappearing transactions, listing charges largest to smallest or anything else designed to trump you into paying a fee. We all forget a transaction at least once in a lifetime, would you rather pay one fee or five?
Posted by dsmith68 on 2006-03-27:
Purchase something like Quicken basic for $30 and use that as your register. Then reconcile with your online statement. To use your online statement as your only register is nuts.
Posted by BOA EMPLOYEE on 2006-04-03:
I worked at fleet as a loan specialist and before that I did customer service at the telephone banking call center. I am now a supervisor for Customer Service and Support for BOA. first let me say some of you have valid complaints and I do apologize on BOA's behalf. I know how upsetting it is when the branch sends you to the call center and then you get sent back to the branch. We at the call center have been trying to educate the branches on actually what we are able to handle. Something's are only for the branches to handle(e.g. updating or correcting a customers name, because it requires the supporting documents can only be handle with at the branches) and yes most of the branches do have attitudes that need some adjustments but what I can say is at the call center we are working hard to make your banking with us a pleasant one. We had some issues with the merge with Bank Boston (as Fleet) and then with Fleet, however we have finally fixed them. and anytime anyone has a problem with a rep on the phone all you need to do is ask for a manager and it will all be taken care of including actions being taken towards that rep. Which includes being fired. At the call center ruddiness from a rep is not taken lightly. We also monitor the calls to hear how the rep. are on the phones (and they are silent monitors so they don't know we are listing to them our selves, best way to catch them messing up. On that note though not all calls are monitored)


OK now about are banking fees. Any and all banks are going to asses a fee when you over draw your account (mine including, which by the way is a credit union, and their fee is the same as BOA). It is your responsibility to keep track of your money and the checks you write. not BOA's. and if you over draw your account, its your fault not ours. And if it is a banking error we will rebate any fees and interest we have charged you without a problem. And most times even it is the customers fault we will still give a COURTESY rebate when asked unless you're overdrawing your ACCT numerous times in the past and have rebates totaling something like $300.00 in a12 months period then it is shame on you, maybe that is mean but this is a business and all banks have the same policy. You cannot honestly expect to bounce checks left and right and for BOA to allow it. I mean bouncing checks is illegal if you are not taking care of it. Second of all when it come to automatic payments that a customer sets up with a company don't you think if your closing the checking account you would need to contact the company YOU gave permission to, to take the money out in the first place to let them know YOU are closing your account...that's not BOA's job, how are we to keep track of all the agreements YOU make with the companies YOU do business with (we are not mind readers. ) We don't assign each employee at BOA one account to monitor all day long. There is no way for us to do that.

And don't yell at a CSR for following policy and procedures. We are only doing our jobs and if we go against it we wont have a job, and like you we have families that we are supporting. I know that I do the best I can for ALL my customers when they call me and will go above and beyond to get things done right the first time but I do have limits and I most follow company rules or I wont be around to do anything, just like any job there are rules set that we all must follow. Besides try to imagine what it is like for us. All day long people call us and yell and swear (very vulgar words) and threaten us because once again they bounce a check because THEY didn't write down in their check what THEY have been spending, and are screaming it is our fault THEY cant balance it and how dare we charge a fee for those 6 bounce checks. Then we go home after being yelled at all day to screaming kids, bills that need to be paid, and a house that needs to be clean. What a fun day for us.

Also if people would read the stack of papers you get when you open your account and ATM cards you would see that it state that if you continuously overdraw your account or leave it at a negative balance for a long period of time that we will close the account, so don't blame us if your not capable of the responsibility it takes to have a checking account and the privilege is taken away from you.

As far as the on-line banking, automated phones service, ATM machines or even customer service they are all just tools to assist you with knowing what has come in at the moment you are looking at the acct. There is no way for a computer or person to know what items you still have outstanding, We don't put microchips in your checks, but since it is YOUR money and YOUR checks you know what you are spending, so use the tools we provide but keep your own records too.

As far as holds on your deposit there is a federal regulation call REG. CC that states whenever you make a deposit it is subject to holds. And depends on 3 things, 1. is the deposit cash (will have no hold) 2. Is it a local, non local check, 3. and is it over $5000.00. If it falls under any of one or two then expect a hold. Again this info is provided to you in your ACCT disclosures if you as an adult choose not to read that information provided to you than its not the banks fault but your own.

And Bank of America really does appreciate and value each and every one of their customers, but we cannot condone abusing your accounts. We will treat all customers with respect but since we are human to, try given the customer service reps some respect to, be amazed how much more of a nicer experience you could have if you didn't swear at people. Well, I have said what was on my mind and thank you for hearing me.
Posted by flashrock on 2006-05-17:
i am aware of boa practices, 5 charges come in boa will bounce the largest one first, then proceed to bounce the smaller ones... in which all of the smaller ones could of been paid and only 1 nsf charge would apply on bouncing the largest one.... they need to deduct by the order the charges were made, not by how boa can make the most $$$ by manipulating the order... i also keep an excel register and mine is accurate to the day i made the charges... meaning i had money in my bank when i used my card.
Posted by Unhappy Camper on 2006-06-17:
I've had the same problems with BOA. Once I lost almost an entire paycheck to overdraft fees...including one for an ATM withdrawal from a BOA machine, for which I had adequate funds at the time! Why wouldn't a cash withdrawal be considered a real-time debit?

I went to my local branch to complain. The rep with whom I spoke tried to explain their convoluted "largest to smallest" transaction listing to me, including the "reason" (I use the term loosely) why some transactions "disappear" online only to reappear on the online statement after they've hit. When I told him that it just didn't make any sense, he himself said, "I admit, it is a little hard to follow." He followed that by saying that I should balance my checkbook on paper and not count on BOA to keep track of account activity chronologically.

I wouldn't have a problem with that if BOA weren't always pushing their "stop your paper statements" campaign. Yeah, right! The way transactions appear as pending on one date, then vanish, then reappear in some arbitrary order? NO WAY! It's like letting the fox guard the henhouse. A paper trail is the ONLY means the consumer has of proving a dispute. Don't give away all the power to the bank!

I have direct deposit and a lot of automatic payments through BOA, which I now keep track of scrupulously. I also make sure to keep a fair chunk of extra change in my account so I won't be blindsided by penalties for small charges I have forgotten. I have opened other accounts at smaller banks since then, and I hope to be Bank-of-America-free in the coming months!
Posted by taviles on 2006-08-24:
Their system is very bad business for all of us. I can have a charge on my bank card on a Thursday morning lets say 8.00 and a deposit at ATM of 300.00 CASH, on Friday for 15.00 and 6.00 and on Saturday for 22.00 and 50.00 and by Tuesday morning they will appear in order from highest to lowest on my stated and not by transaction date and the deposit will appear last.


How convenient for BOFA...

Over 48hrs to clear a cash deposit...
Posted by sloshan on 2007-06-22:
I thought I would give you some peace of mind: Bank of America treats the rich the same way. My mother was left destitute after Bank of America locked her out of her own trust. They never returned phone calls or responded to letters and left the situtation unresolved until her death 3 years later. I've seen reports of many other Trust and Investment clients treated the same way. BofA is incompetent, unethical, but is an equal opportunity gangster.
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Bank of America Customer Service SUCKS!!!
Posted by Court on 01/19/2006
FORT WORTH, TEXAS -- I'm really sick and tired of calling the Bank of America customer service # and having someone I don't know have access to ALL my personal banking information treat me like a 2 year old when I'm being nice and simply asking questions regarding my account. I'm tired of being talked to condescendingly as if they never make mistakes with their money. I want to jump through the phone and stomp on their face!!! I know each time I politely ask about certain policies that the other person on the line is passing judgment because I have a returned check for 125.00. PEOPLE make mistakes and because of the policies, they will end up paying. Customer service representatives talking with a cocky tone to CUSTOMERS does not make an already frustrating situation any better. My main complaint is not about policies and how Bank of America screwed up my account. blah blah blah blah blah...because I take full responsibility for my mistake, as I am ONLY HUMAN! My complaint is the way customer service treats people. I never think to get the persons name and file a complaint, again...my fault. It's not fair that they can see so many pieces of your personal information and treat you like scum.

I already feel stupid calling to ask about my account when it's my mistake to begin with. I don't need to be talked to like a child. It's not like I make mistakes like this ALL the time. They can be nice and answer customers questions with a sincere and sympathetic tone, even if they don't feel sincere and sympathetic. I made a mistake, but I AM STILL THE CUSTOMER AND WITHOUT US, YOU WOULDN'T HAVE A JOB!!!
     
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Posted by ejack053824 on 2006-01-19:
Your just a shyt kernel to Bank of America...they make billions with commercial/corporate accounts. That's why I would never bank with them.
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theft on a ATM deposit
Posted by Genina on 07/22/2005
RIVERSIDE, CALIFORNIA -- On May 19, 2005, I deposited $4630.00 Cash late at night in the ATM machine outside our local branch. (Stupid thing to do!) I also deposited that same night two checks each worth $1000.00. Total deposit that day was $6630.00. The next day I went on bank online around 6 p.m. to pay some bills, thinking I had my money in the account posted already. Online said that I had only deposited $2430.00 total the day before. Which infact I deposited $6630.00. I right away called the 800# to find out what was going on. I figured I could reach someone there because customer service closes a little later. Any how the rep said that they deducted $2200.00 from what I keyed into the ATM machine. She said I only had $2430.00 in cash that I depostied not $4630.00. I went crazy! (Can someone please tell me how someone can miscount a large amount like that?) I told her that I knew for a fact how much I had in that envelope. My husband and I own our own business and every night when we close we count the money and enter the amount in our ledger. We recounted the money in the car so I can write on the envelope how much I had in cash that I was going to deposit. My husband was there when I did that. That night we went to the bank to deposit because I had some bills to pay. I also asked her about the two checks why they weren\'t showing that I had deposited checks also. I did inform her that it was two different transactions. She did not show no checks. She transfered me to the dispute department. I told the dispute department what was going on. They entered a claim in for the checks. And they entered a claim for the $2200.00 that was missing from my account. The rep said that they will be mailing me a form that I have to sign and fax back. I never received a form. The next business day I went online again to see if any chances were made. It posted that they found my checks. I called the dispute department to ask about the cash dispute not about the checks. I did tell them that they found the checks. But for some reason they re-entered the claim again for the checks and the cash. I don\'t know why when I was just calling to get status only. Keep in mind every time they enter a claim they give you a temp credit until claim is resolved. I knew about the first credit when I entered the claim the first time but, the second time I did not know. I told them that I had too much they over credited us on these claims. A day later they sent me two letters, one was for the cash dispute and it said: \"After carefully investigating this claim I came to the conclusion that they\'re is no bank errors, and your account will be deducted $2200.00 that was credited to your account!\" and on the checks dispute, (which I don\'t know why they\'re was a dispute out there for it in the first place.) it said: \"After investigating this claim carefully, I came to the conclusion that we over credited you for these checks and we will be deducting $4000.00 from your bank account.) How in the world can they figure that they had a conclusion in less then a day, because I received the letter two days after entering the claim the first time and the date on the top of the letter had the same date I spoke to them. It takes awhile, a day or two to get the mail. Keep in mind they credited us twice for these checks but in the same time they really did not put the actual $2000.00 from the checks. So, basiclly they were going to take the $4000.00 that they were over crediting us on. (I understand!) I don\'t understand were is my actual $2000.00 from the checks? I called once again. (2 hours again!) They finally realized what was going on and credited me my $2000.00. That was fine and all but where is my other $2200.00 cash that I actually deposited. They ended up deducting that from my account. I called and asked them what was going on. I spoke to a Ray in dispute department last and he informed me that they\'re is nothing he can do anymore because they entered the claim already and dispute department closed the case. I was transfered to a manager, which did not want to help me at all, she told me that I have to write a letter to National Debit Card and explain my story. I faxed them four days ago and I still have not heard a response. I have no other choice but to take this to court. I will no longer deposit cash in the ATM again. I will be closing this account. Bank of America is the worse bank ever. I had a account with Washington Mutual and I never had this problem before. I will be returning to them. $2200.00 is alot of money to just let it go. We work hard for our money and meanwhile B of A just keeps taking money out from our account for NSF fees because now we are overdrawn $3000.00. We don\'t know what to do. We do not recommend Bank of America to anyone. They reputation has gone down alot for stupid things like this. We feel strongly that one of them must have taken the money and pocketing it. How else do we explain an explaination like this.
     
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Posted by DavidD on 2005-09-21:
Internal theft is a big problem for companies these days. Bank of America seems to have found a way to avoid the losses by passing the cost off to it's customers.
Posted by kingmd75 on 2005-11-19:
I'm sorry you had to learn such a hard lesson about depositing cash into an ATM.
Posted by holycrap on 2005-12-06:
i believe you its happened to me also, there are some fn crooks working in the banking industry. supposedly 2 employees count deposits but if they are in on it together...their word against ours,
never deposit cash in an atm only checks.
Posted by holycrap on 2005-12-06:
forgot to add bank of america sucks ass. hope they go the way of ATT.
Posted by WAMU Hater on 2007-05-03:
I just had the same thing happen to me at WAMU in Temple City, Ca. They are thieves also. This happened to me last year and they refunded my money two weeks later with no apology. This time they insist it was my mistake and that is impossible!! STAY AWAY FROM WAMU ALSO!!!
Posted by llamas79 on 2008-09-05:
I feel your frustrations! Recently I deposited 1,650 dollars in cash at 10:30 p.m. at my local B of A ATM on a Friday night and some how I was only credited 165 dollars. How they got that amount, I really don't know because I only placed 100's and 50's in the envelope. I went through all the trouble of filing a claim to only be told that basicly I never deposited the amount I claim I deposited. I was pretty bummed... If any one out there knows how to resolve an issue like this please share, I'de like to know.
Posted by jrbrook76 on 2009-03-27:
I'm sorry but as a business owner, I would think you'd be smart enough to make your deposits at the counter. Obviously, if you know you put the cash in, it's not totally your fault, but it's not very smart to put such large sums of cash into an ATM machine. Have you ever seen some of the losers that work at bank branches?
Posted by BokiBean on 2009-03-27:
What a mess! I feel bad for you..once the complete incompetancy settles I feel like its going to be your word against the banks, and that ain't good.

Please consider a credit union and no cash deposits without an immediate receipt from a teller.
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Unfair Business Practices
Posted by JAFEICA on 11/19/2007
PORTSMOUTH, VIRGINIA -- BTW my "name" Jafeica stands for Just Another F#$^*^g Expense I Can't Afford

I have read many of the reviews on this site and I can relate to about 90% of them. The fee's that they charge, the interest rates that they charge, the overdraft protection that disappears when it's needed, the astronomical interest rates they charge (even when it's their fault) and the lack of compassion by their so called "customer service" reps.

First when my husband and I opened our account, we made sure that we added overdraft protection to our account, we also opened a savings account that would take a direct deposit from our checking account, we also got an introductory offer of 0% interest for 9 months and it would then increase to 17.9.

BofA constantly moves you bank card purchases so that it will eventually result in a calculation error on the consumers part, which allows these crooks to debit your account for unfair $35 fees. Here is an example. After noticing for years that our rent check takes 2-3 business days to process one month our account was running low, I knew that my direct deposit would hit our bank by midnight on Wednesday, so at 2pm on Wednesday I took our rent check over to our rental office. Relieved that I had just saved us $100 for paying our rent late. Well Thursday morning at 6am I reviewed our account to determine what bills we were going to be able to pay out of this weeks pay only to find out that our rent check was PROCESSED and following our rent were all the (10) bank card transactions that we had made OVER THE WEEKEND that had been showing as pending. Not only did I not have a positive balance but they had charged me $350 in insufficient balance fees. Which darn near ate my paycheck.

When I took the copy of the online banking statement into the branch office I was told that "because their customers wanted the banking hours changed" the cut off time was in fact 5pm and not the standard 2pm, when I showed him my check book showing the previous months not clearing for 2-3 days they told me that it was not their problem that I didn't have sufficient funds to cover that transaction, when I questioned why the pending transactions took so long to process, they told me "that happens sometimes".

My husband and I not only live pay check to pay check but we pay our bills on a weekly basis and not monthly. When a bill comes in, we set it up for payment for within a week or two depending on when it is best financially for us to pay, meaning our bills are never late. Well when we received our BofA into offer 0% c.c. we transfered our dell account to it because it had a higher interest rate. Well not being used to getting a BofA bill we over looked not getting one for a couple of months when I realized it I went to the bank and found out our bill was being sent to St Cloud, FL, now neither my husband nor I have ever been to FL not to mention ever lived there.

So I had the rep send all the previous statements to me so that I could review them, once I received them (in less than a week) I was relieved to see that no transactions had been made. With our c.c. account now currant, we moved on, and a couple of months later I get a call from them that my account was past due, I asked again what address they were sending our bill to, and you guessed it, it was going to the same address in FL. I asked how that was possible when just a couple of months before they had sent the bulk statements to our address, they had no answer for it. Well they revoked my 0% interest and hit me with late fees and now over the limit fees because the messed up. I know have the account set up on my Outlook to remind me to hand deliver the payment at my local branch, to avoid any other "mishaps", and guess what, I still don't get my statements, but I can review it on line so I know nothing is getting charged by an individual (only from the original crooks themselves). Oh and that overdraft protection we signed up for, THREE times still is not on any of our accounts.

OHHHH and here is one for the record books. I have an automatic withdrawal from checking every Thursday being deposited in my savings account, and if the funds aren't available they charge me a $35 fee....Also the keep the change thing...same thing, if you don't have the $0.56 in your checking account to cover the transaction, there's a $35 fee.....I don't know how they get away with this, but I can tell you one thing, they took their last $35 fee from me. I just wish that someone could do something about this bank.
     
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Posted by msnanny on 2007-11-19:
Ugh, where do I even begin. A) It doesn't matter how long it "used" to take to process your rent check. The fact is that you wrote a check without having sufficient funds to cover it (illegal by the way)

B)It doesn't matter that you did not receive a "courtesy" bill in the mail. It's your responsibility to know when the payment is due and you failed to pay it on time.

C) Bills can not be paid "depending on when it is best financially for us to pay". They must be paid on time.

D) If you do not have sufficient funds in your account to cover an automatic withdrawl you will be charged an overdraft fee.

E) And finally, GOOD LUCK finding another bank that will not do the very same thing.

Jeeze, I feel like I've just tried to explain econmics to a 2nd grader.
Posted by Suusan B. on 2007-11-19:
"I don't know how they get away with this".

I do - - read your account holder agreement wherein you will find all the answers.

Many of us live paycheck to paycheck, but you are knowingly overdrafting your account which is illegal. And BofA is no different than any other bank with regards to overdraft fees. They apply debits before credits and in the order of highest to lowest in order to maximize the fees they can charge from customers who do not keep a check register and authorize more debits than they have money available.

Finally, credit card statements are mailed as a courtesy and it is the consumer's responsibility to know what they owe and when their payments are due. The fact that "a couple of months" went by without your making a payment tells me you are not on top of your finances.
Posted by Suusan B. on 2007-11-19:
Oh - - and you stated you "signed up for overdraft protection". This is not something you sign up for - - it is something you apply for as it is a line of credit for which you must qualify.
Posted by jktshff1 on 2007-11-19:
I, I just can't go there! Don't know where to start!
Posted by ejack053824 on 2007-11-19:
I know where to go with this..........BRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRTTT!
Posted by Anonymous on 2007-11-19:
I have to do this, sorry... BRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRTTTT! Ahhhhhh....
Posted by ejack053824 on 2007-11-19:
LOL Lid!
Posted by jktshff1 on 2007-11-19:
ejack & lid...thanks for thaking the words out of my m.....oops a...!!lol
Posted by ejack053824 on 2007-11-19:
jkts..you shyt yourself my friend? LOL!
Posted by Anonymous on 2007-11-19:
jkt, did you make it to the bathroom?

What's up Ejack!!!!
Posted by jktshff1 on 2007-11-19:
i'm cool no problems
Posted by anthem on 2007-11-20:
Your not the only one hit up with there fees i just got hit with 455.00 in fees on two accounts.. then i find out when you have overdraft protection linked to your savings means nothing because i deposited cash into it thinking i was safe and then they tell me it takes two days to post to your account.... come on give me a break..someone needs to do a class action suit against them for unfair practices.. they have a hidden agenda
Posted by anthem on 2007-11-20:
Trust Me BOA will be busted for there unfair business practices they pry on the less fortunate.. i am currentlyl working to get it done.. Its not about writing a check when you don't have the money or using your debit card when you don't have the money.. I know for a fact by a friend that worked in management for Boa about there business practice... that are not ethical. trust me this issue will be in the major news soon guaranteed!!!

Posted by CrazyRedHead on 2007-11-20:
I agree with msnannay and Suusan B.. I also bank with BOA. I have been with them for almost 20 years with no problem. Currently I have the 'Keep the Change', where they transfer the remaining changed from any debit or check transaction to my savings, and when there isn't enough in my checking account they will cancel the transfer and not charge me anything.

They also canceled a overdraft fee since I caught it pending and transferred my own money from my savings account to my checking. I also live paycheck to paycheck and have no troubles with them, but then I don't write checks for what I don't have at that moment.

Read the booklet that they gave you when you opened up the account, that will go over any fees or charges that you incur. At least with me, they haven't been sneaky, they have actually came through for me and even gave me a $20.00 credit before.
Posted by jim5pisces on 2007-12-12:
anthem..I agree class action suit!! Obviously the taxes we pay for government oversite is not doing their job regulating banks! This is clearly not proper banking practices and they should be fined several million dollars and the money they stole from us needs to be returned with interest as my complaint took 6 months on this recent theft and over 4 years now I have been waiting for the B of A to replace my $600 when the hackers robbed me 6 times in a row...theypromised! When I discovered my entire social security funds were gone I went immediately to B of A and ssked them what happened and they were dumbfounded and surprised and told me they did not know how to stop these hackers! I demanded my social security money right then and there and finally got all of it redeposited into my account with this exception that they said they would withhold $100 of it and redeposit this into my account when their investigation was completed! Well...it has been over 4 years now so have they completed their investigation yet? I have called and called and been back to the bank numerous times, emailed them and still they have not put back my money? I only exist on $1100 each month, not enough to live on, and to have my meager income completely stripped from me for 6 times and 6 months in a row showedB of A had no protection and was not safegarding my money and that is what banks are supposed to do so a class action suit by this worthless government agency that is supposed to be monitoring bank practices is so far overdue! I cannot believe my eyes at how many folks have been ripped off by these CROOKS!!! J.C.H.
Posted by soothsayer on 2007-12-19:
Bank Americ lost a Billion dollar class action suit years ago for posting highest checks first to maxamize the amount of overdraft charges. They don't care they made a hundred times that in bogus fee's.
Screw BOA they aren't even an AMERICAN owned Company, WAMU isn't any better,(they just screwed me with 2 overdraft fee's when their should have only been one because they posted the higher amount first even though they were Paypal transfers and the smaller amount was done 2 days gefore the larger amount and it would not have overdrafted the account. google search Bank of America Sucks, or WAMU Sucks you;ll be AMAZED. Also BOA owns VISA, so every time you use your visa card they get 3% from the merchant.

So here is my suggestion, SCREW BOA - Switch to Master Card, close your BOA account and open one at a CREDIT UNION, because all the Banks are screwwing everyone on Charges. If you must have a Bank Account - DON"T PAY YOUR BILLS from it. YOU can buy 32 money orders for the cost of 1 overdraft charge. Deposit your checks then withdraw cash, (just leave the min amount in the bank) why let them use your money for free and then have them charge you hundreds of dollars in Bank fee's for overdrafts. Buy M.O.'s and pay your bills that way. Don't use ATM's, again they are using your money and then charge you fee's when you want it. If everyone started taking all of their money in cash (they won't give you more cash than is in your account) They would loose Billions. Maybe they would get the message. We are mad as hell and we aren't gonna take it anymore.
Posted by slovakgirl on 2008-03-11:
This comment is in regards to the complaint about Bank of America. I had a credit card with them. I never in my entire life experienced such aggravation with a credit card. Terrible customer service, deceptive practices, some of the reps actually lied to me on several occasions and then accused ME of being deceptive. I reported them to several consumer reporting agencies. Bank of America actually responded positively to me after receiving a complaint from the BBB. Do this-complain, complain, and complain some more. We can't allow them to get away with this; it's illegal. We have rights as consumers and they have obligations as a financial institution to abide by certain business ethics, if they don't, they should be held responsible !! A Class Action Lawsuit should be formed against them to put them out of business!! Recently,
I observed on my local news, people protesting CountryWide; guess who just bought CountryWide? Bank of America. I settled with them and they are still giving me problems. Good Luck.
Posted by Ty0111 on 2008-04-04:
I use to work for Bank of America and that is the reason that I have an account still. It is troublesome to get the direct deposit switched over to my other bank but I am definately going to do it soon.

Their pending transactions just changed within the month and they charge for anything that could potentially overdraw your account. Because the transaction is pending then it falls off of your account after a few days and then post at a later time.

I was charged a $35 fee for potentially overdrawing my account eventhough at the end of the day my account did not fall below $100. Then they could not even tell me which transaction would have potentially overdrawn my account. When I got the paper in the mail that tells which transaction caused the fee, it was completely different from the transaction that the customer service rep told me. They gave me my money back for the transaction but this is not the point.

This new system is very dishonest and it is hurful to the everyday working class person who puts money into their accounts for convience. I have another account with a credit union and I love it. I get a 3.44% apr on my CD whereas at B of A I only would have received somewhere around 1%. The savings accounts offer higher apr's and if you ever need a loan then the rate of the loan is usually lower as well. The only problem is that you have to avoid the fee's of using a B of A atm.

If anyone knows of a way to lodge a formal complaint then I really want to know because they should not be able to get away with this. I am also thinking about posting a video on youtube about this practice warning anyone who banks there.
Posted by Not for the narrow minded on 2008-04-19:
You know, it sure seems funny that THEY DID THE SAME THING TO ME. We are VICTIMS of Unfair Business Practices. I DON'T KNOW ANYONE WHO ACTUALLY USES A CHECKBOOK REGISTER ANYMORE. I rely on my online banking information which seems to change regularly to the banks benefit. I wrote a check that they sent back for insufficient funds. So I proceeded to use my debit card for something else, I mean it's my money right? They returned the check and charged me $35. So I spent what was left in my account. WELL then after I spent MY MONEY that was in my account, on Monday night the check appears again AS A CLEARED ITEM even thought I never had enough to cover it. Did it show as pending over the weekend? Of course not!!! NOT only did I have to pay another $35 for that check, BUT THEY PAID IT FIRST before my debit card transactions. Now I owe them for 8 overdrafts. Hmm, do you think they paid that check as a courtesy to me? That is not a courtesy, that is larceny. Why wouldn't you have paid it the first time it came in? If I write a check that gets returned and I never have enough to cover it am I supposed to let my money sit in the account forever? They should never have let that check clear on insufficient funds. I'll bet they wouldn't have if I didn't have 8 opportunities for them to score on.
Posted by Not for the narrow minded on 2008-04-19:
REMEMBER--Bank Courtesy = Larceny
Posted by joekerrg on 2008-05-13:
B of America is as big a Gangster as the Bells/ATT/Cingular, only worse. They have DIRECT access to your money, etc. and they KNOW how to use that advantage. Our government is too fixated on eradicating the middle class to actually step in and help throttle it's biggest supporters (Crooked Corporations and other entities thriving on usurious practices which hurt Americans).

Bank of America SUCKS, and more than most. I have banked with them, in the past, and thought I was free. I moved across the country, and opened an account with another bank, which...you guessed it...three sales later, wound up Bank of America. YEEEESH! I would RATHER deal with a WAMU than keep bolstering the profits for BofAmerica. Even my doggone MORTGAGE is in the hands of these crooks. I am working on an escape. It's a shame they are as deadly to the American people as ANY foreigner, and 100 times as insidious, and yet, very little can be done to rock them off the mountaintop.
Posted by Taistix on 2008-07-09:
i filed a complaint with the feds about what they did to me this week. i deposited a u.s. treasury check after cashing it on july 3rd...it was suppose to be posted officially on the the 7th monday but my atm reciepts reflected the deposit i had made on the 3rd in other words they don't have to hold u.s. treasury checks to they "clear" so they made that money available to me and i was also allowed to make checkcard purchases over the week-end as well as make cash withdrawels which usually AREN"T allowed if the money is not there. They posted half a dozen 35 dollar charges for transactions i made on the 8th when the money was already there or supposed to be. I won't be able to pay my rent this month and it's causing me considerable frustration as well as having to need to find a new bank that doesn't use tactics to get anything they think they possibly can from people regardless of the morality since it's just a technicality that they're wrong about anyhow. Hey get this b of a check posted the 7th, you don't have to hold u.s. treasury checks to CLEAR and the overdraft charges on the 8th??? good luck friends out there.
Posted by fhvmad on 2009-05-13:
I do not think that some of the people with negative comments understand how boa has changed thier notifying customers so they can collect nsf charges. I had called before about them rearranging transactions that were pending after posting them so that you have multiple nsf charges. They informed me that when they post transactions that are pending they take the largest transaction and post that first regardless of what day that transaction comes in. That causes a customer to bounce all the smaller transactions including fees they charge like a dollar for using other banks atms. Well they either changed that policy again or they are lying to people to collect multiple fees. I made sure after being told this to be aware of them posting the larger fees but to my surprise I checked my account and since it wasnt to their benefit they didnt do it that way ONLY if it would cause the customer to overdraft for smaller transactions. This way they can collect multiple nsf fees for smaller transactions instead of one fee for a larger transaction coming in at a later time. This is intention not exact banking procedures. If it wasnt they would on the day they post all the pending transactions take out the larger first but instead they are only doing that if it causes multiple nsf charges otherwise the larger transactions are posted NOT first on the same day. This is just the beginning. There are other things they are doing so that they can collect more nsf fees. My point is that they are lying to customers . If they were not then how come on accounts they are only posting larger transactions when is causes multiple transactions to bounce so they can collect nsf fees. Its simple , they are ripping people off. There needs to be a suit against bank of america because this in reality is not SET banking procedures they are using its HOW much money can they make off of you. I worked for a company that sells a product to the military. There was another company who sold a simular product. We had a set price list. They didnt and would basically try to get as much money as they could from a customer. Needless to say the military retail office that handles that banned them from working for aafees saying that was basically ripping people off. What bank of america is doing is the SAME thing. They are lying to people about their policy, they are intentionally posting larger transaction ONLY if it causes a bunch of smaller ones to accumulate nsf fees otherwise the larger ones DO NOT post first. This is clearly ripping people off and needless to say I am closing my account with them on Friday. One because the bank lied about it and two because I dont want to give a shark (BOA) our hard earned money. The military has taken steps to stop loan companies from ripping military members off by charging loan shark interest rates. I hope they do the same with banks that are doing unfair practices as well like boa. Wake up people! The economy is bad , the banks are getting bail outs even though they are making profits from these fees. I personally have decided to put the paycheck on a prepaid visa. My neighbor did this and its working out great.
Posted by Anonymous on 2009-05-13:
Soothsayer, you are wrong. They were fined (and it wasn't a billion dollars) because they failed to disclose properly the way they processed. There was nothing illegal about it (still isn't), but they didn't give some customers adequate notice.
Posted by geronimo on 2009-09-24:
Amen to that, you know last year I paid over 3000 dollars in these fees. I still have a negative balance and they are still charging me fees. It is really stupid that we keep paying these people ANYTHING. In the name of self-preservation I have now stopped making all payments and encourage others to do the same. Hit 'em where it hurts the most!!
Posted by geronimo on 2009-11-19:
Drop these people, DO Not Pay them ANYTHING! Let's see if ol Uncle Sam can carry their dead asses when we all STOP giving these a*****es our crumbs and wampum. Let them go down in flames, they should have to PAY the customer back!!

Same goes for the rest of them, screw 'em all to the wall!!

DO IT NOW!!
Posted by Anonymous on 2009-11-19:
Well said Geronimo.
Posted by Anonymous on 2009-11-19:
Wow - how did so many people who can't balance their bank accounts learn to access the Internet? Oh, right, it's all point-and-click.
Posted by DebtorBasher on 2009-11-19:
Ok...who breathed life back into this old thread????
Posted by Ytropious on 2009-11-19:
2 years to the day LOL coincidence?
Posted by DebtorBasher on 2009-11-19:
LOL...I didn't even notice the day, just the year.
Posted by Big Brother on 2013-08-09:
Keep up with your own balance
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Predatory Over Draft Fees
Posted by John1026 on 06/19/2008
MIAMI, FLORIDA -- Hi I had been with Bank of America for 11 yrs. I got my parents to open a personal and commercial account with them.

Our whole family was on Bank of America.

Recently, I ran into trouble by over drafting my account on 3 items. It was my responsibility to pay for my mistakes so that's what I did.

Until pay day, my account remained close to $0. Usually floating around $20. My mistakes started when I assumed that the online banking system showed all transactions immediately.

I checked my bank account everyday watching for any item to come in so I can borrow the money and deposit it before the end of the day.

I started noticing a trend where if I bought 3 $1 items in the morning and made a $200 purchase at 11:00 pm they will rearrange the items so that I overdraft for each little item.

I called customer service and they told me that they were doing us a favor by doing this because they survived their customers and the majority wanted the larger amount to come out first. The good thing is that will also put the deposits first.

Once again, I was like alright well, what can you do. So I paid it again.

After paying my bills and the overdrafts my bank account again floated around $20. So I stopped using my card.

The Wednesday before payday, I made a check to my doctor that was post dated for Friday. One of my doctor's staff didn't notice and deposited it on Thursday. All the while I'm keeping a check on my bank account online.

At 2:00 am on Friday morning, I checked my account and was happy to find that my account made it to payday without over drafting. Come morning (5 hours later), my account said I had over drafted on Thursday for 2 items, (1) The check and (2) a $3 purchase.

I was livid so I called customer service and the lady went into a script on how their system works. After asking her how it was possible that the bank can say they paid the check on Thursday but not report it on Thursday. She continued into the script and said that their online banking system isn't always immediate (contrary to what their commercials advertise).

I went to a branch and spoke to an official. He said that his hands are tied and tried to get me a refund. But, to no surprise, it was denied because (get this) I had too many previous overdrafts already!!!

I closed my account. Now they are billing for $9.95 that they paid after the account was closed.

My only advice is to not bank with them unless you have excellent credit and a lot of money. Otherwise they don't care about you.

They will step on you, take your money, and then with a straight face say that since you've already given us all your money, we can't give you any back. But, if you haven't paid us any, you can have it back. Sounds logical huh?

     
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Posted by BobJohn on 2008-06-19:
You should not write checks for money not in your account. Post dating a check means nothing, the bank accepts it when it comes in. The overdraft fees are serious money so you have to be very careful not to go negative. You can change banks but you've really got to change your habits and watch you check register and AVAILABLE balance closely. A helpful hint might be to pay cash instead of using a debit card for small transactions, then if you do go negative you won't have a bunch of small charges.
Posted by Anonymous on 2008-06-19:
"I checked my bank account everyday watching for any item to come in so I can borrow the money and deposit it before the end of the day."

If you can see it, you're already overdrawn. Do yourself a favor and cut up the debit card. If you use cash only, you'll find you have all those overdraft fees back in your pocket available to spend.
Posted by Anonymous on 2008-06-19:
Post-dating is little more than check kiting. Always write the correct date on a check. If you wanted the doctor to hold the check, you should attach a note to the check and put both in an envelope marked 'hold'. Clear it with the office manager. No business is obligated to hold a check or honor a post-dated check. The days of interest-free, short term loans via one's checking account are over.
Posted by Anonymous on 2008-06-19:
Keep track of ALL transactions in a check register- checks/debit card transactions/ATM withdrawls and balance your checkbook every day. This is how you know exactly how much money you have in your account. Online banking is a convenience to have, but it is not guaranteed to be 100% accurate at all times. As BobJohn said, you can change banks, but you also need to change your habits, or this will just happen again.
Posted by madconsumer on 2008-06-19:
without even finishing this, i stopped when the poster said,
" checked my bank account everyday watching for any item to come in so I can borrow the money and deposit it before the end of the day."

here is a radical idea, make the deposit first. then go spend the money that is available. days of floating checks is over.
Posted by Anonymous on 2008-06-19:
"I was livid so I called customer service and the lady went into a script on how their system works."

Hope you listened. Your post indicates that you don't know how to manage a checking account.
Posted by CrazyRedHead on 2008-06-20:
Never rely solely on the online system or the telephone system. You should keep an accurate check register. You don't seem to know how to manage a checking account properly. I have been with BOA for close to 20 years and I don't have a lot of money, and I haven't had an overdraft or any problems in the last 10 years. I keep a checking register and keep, at most, 10 dollars in the account and I only get paid once a month. I should keep more but when you don't have more it is kinda hard.

Stop post dating checks, they will only get you into trouble, and quit floating checks. When you deposit wait until the funds are available, even if you have to call the back to verify, and make sure you get a name.
Posted by speedy relief on 2008-06-21:
I agree with you . BOa is a preditor in no uncertain terms. They hit me for the tune of 300.00 in overdrafts, due to Their practice of paying in decending order. I made purchases over the weekend with my debit card (using my PIN) cuz they tell me they take the $ out immediatly (or so they say) I made a cash deposit before 5pm to cover another purchase to be made on the following day, and they paid that purchase first, and let everything alse (all my debits) kick out as over drafts.
Posted by Anonymous on 2008-06-30:
Post-dating checks does not work anymore. These rules have been in place for awhile. You give someone a check, they can deposit it immediately and the funds can be taken from your account immediately.
It's time that you learn how to budget your money.
Posted by Ponie on 2008-06-30:
'...(contrary to what their commercials advertise).' I've seen a lot of BOA ads, both print and TV, and in none of them do they infer if you don't have money left in your account they'll gladly float a loan at no charge to you. I don't think you should have a bank account. Looking at your history, that may become true. Banks are not too happy to sign up new customers who have had a problem balancing their checking accounts in the past.

speedy relief, you also need Basic Finance 101. I'd have a heart attack if I had to pay $300 in overdraft fees due to my inability to add and subtract.
Posted by speedy relief on 2008-07-01:
such sarcasm in the previous posts. maybe these people work for the bank
Posted by Ponie on 2008-07-01:
speedy, no we don't work for the bank. We just use common sense. I have never in my entire life had an overdraft fee. I suppose that could be because I don't try to spend what I don't have.
Posted by PolishGirl on 2008-07-07:
First of all, never post date a check, it never works. Second of all keep more money in your account. Third, keep a check register. Forth, never never never spend money on something if you don't have it, that way you do not overdraw the account.
Posted by Anonymous on 2008-08-07:
You are right about Bank of America. I only use them because they have a lot of ATM machines. But once I catch up I will transfer my business elsewhere. They are crooks and they move things around to create multiple overdrafts. They just stole $175.00 dollars from me. What would have been an about a 12 dollar over draft turned into 175 dollars in a few minutes. They apparently tell each customer the same reason.

Now why would anyone prefer the bank to pay a higher draft but instead pay multiple overdraft fees that exceed the one highest charge. They manipulated my account to steal money. I will make sure they get as much negative publicity about this as possible. They deserve just what they get. I may even picket a branch in the near future.
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Impossible To Report Fraud To B Of A
Posted by Wetbaloney on 11/06/2007
CHARLOTTE, NORTH CAROLINA -- This afternoon I was trying to buy something on PayPal and I was served up with a page requesting me to update my credit card information or add a new card. Without going into the details of that, suffice it to say that I had reasonable cause to believe that this was a phishing ploy to get my credit card information and that I fell for the ploy.

Realizing this almost immediately I attempted to report the incident to Bank of America, the issuer of the credit card whose information I had entered on the bogus web page.

My exasperating experience with Bank of America went as follows:

1) I telephoned the customer service number on the back of my card and was answered by a voice messaging system which gave no menu choices for reporting fraud or for speaking to a real human being. After listing to all sorts of information about my account which I was not interested in, hearing about B of A's commitment to excellent customer service, and entering my card number and various other personal information several times I was finally connected with a customer service representative. She then asked me my name (didn't I just give them my account number?) and then I was disconnected. She did not call back.

2) I called back and went through the same rigamarole again, but this time I did not get disconnect and was able to explain the (fairly complex) details of the situation I wanted to report. This CSR then told me I would have to speak with someone from their "fraud department". She gave me the direct number to that (or she said) department and transferred the call to them.

3) After waiting on hold for several minutes I was provided with yet another voice messaging system which gave me all sorts of choices about reporting billing disputes. After entering my credit card number and other information the messaging system informed me that I was in the queue to speak to a representative. After waiting on hold for a while I got another message saying that the system was unable to help me at that time and to hang up and call back.

4) I hung up and called back. Again I went through the same waiting, menus, and entering numbers. Finally a person got on the line. I again went through my lengthy explanation of the situation only to be told that I had to speak to someone at the "fraud department". I told him that I was told by the previous person I spoke with that this WAS the number to the fraud department. He said it was not and transferred me over there.

5) After waiting on hold for some time I was given what appeared to be the same messaging/menu system as when I had first called customer service, and when someone finally answered (after going through the same motions I had gone through in the first place), the person I spoke with again told me I would have to speak with someone at the "fraud department".

At this point I had already spent one hour and 15 minutes attempting to report a serious security issue to Bank of America without any success. In disgust I just directed the person I was speaking with to cancel my account immediately.

Coincidentally, I had also given information on another credit card with that suspicious website before I realized that there was something to be suspicious about. That card was issued by National City Bank. When I called them I was able to speak to a customer service representative within about one minute of their voice messaging system answering my call.

The CSR with NCB took my information and initiated appropriate action promptly. The whole process with NCB took less than 5 minutes.
     
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Posted by GothicSmurf on 2007-11-06:
Call your branch directly and or go in to your branch and speak with a person there to verify that the information was recieved.
Posted by Anonymous on 2007-11-06:
Thanks for the information and I agree, that is a ridiculous amount of time to spend on hold and being transferred around and around to no avail. You should go into the main branch and speak to someone in person about your experience and hopefully some changes will be made.
I am curious to know, what caused you to be suspicious in the first place that it was a phishing attempt?
Posted by wetbaloney on 2007-11-06:
well now I have a complaint about THIS website. I got an email that said "Click the link below to view your post and read the new consumer response(s):" I clicked the link and then scrolled down to where it said: "Read user comments (2) ". And then all I got was this form to input a comment. The 2 user comments are nowhere to be found. If I click on that link again I just get sent right back here. Whoever designed this website must have an IQ that is less than his shoe size.
Posted by bigboxworker on 2007-11-06:
You should also contact paypal, as they should be taking actions to prevent fraudsters from creating phishing sites posing to be a legitimate payapl site
Posted by Anonymous on 2007-11-07:
Step away from the computer.

Make sure that anytime you speak to any bank or credit card company by telephone that the conversation is followed up by something in writing, no matter how trivial the reason for the call may be, summerizing what was said and what was promised, when the call was made and who you spoke to. Make sure to reference any case file number associated with your claim. They should be able to provide you the address to send it to, or there may be something on their web site or in the paperwork you received when you open the account.
Posted by Anonymous on 2007-11-07:
If you want to complain about Bank of America, send a written letter via certified return receipt to: Office of the Comptroller of the Currency, Consumer Affairs Department, 1301 McKinney Street, Suite 3450, Houston, Texas, 77010-9050, Tel: 800-613-6743. Also, send a written complaint to your State Attorney Generals Office, Attn: Consumer Affairs.
Good luck.
<;O)
Posted by Magic Christian on 2009-12-18:
First, NEVER enter your account number on the phone: the rep will ALWAYS have you repeat it again, anyway! I have never been able to fathom why they bother to ask, unless they're simply trying to distract you from noting just how long they kept you waiting....

Next, if you find yourself pushing menu choices over and over, replace the call: this time, do NOT use your keypad! They will assume you have a rotary dial, and - voila! - a REAL PERSON! (My elderly brother taught me this many years ago. Even now, most systems have to allow for rotary phones....)

Do not trust Bank of America to ever do what they say. Not only are their reps unspeakably rude, but they will tell you just about anything to get you off their queue. Great operation - for teaching consumers what NOT to hope for in customer service!
Posted by ithinkikan on 2010-02-27:
I was trying to report a phishing email I received and it is impossible - like they do not want to know. Very strange. This lack of cooperation and communication has to effect their business and cause people to close their accounts ...
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