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 overdrafting my account on 3 items. It was my responsibility to pay for my mistakes so that's what I did. Until payday, 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 every day 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 overdrafting. Come morning (5 hours later), my account said I had overdrafted on Thursday for 2 items, the check and 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?
FLORIDA -- I am glad to see another recent post! This has been happening to us off and on over the past 5 years. But this last one less than a month ago is it! We are a small business who relied on the online and payroll services till we were told there is something with a post, a hard post and available. So I do not check the accounts everyday anymore. What good are computers if you can be accurate by paper and pencil! Now that BOA has the new ATMs that takes the checks and reads them and the money is posted to your account if deposited by 8 pm is a line of crock too.
Two weeks ago we deposited a check to find out 6 days later that they had put a hold on it. Deposited it on the 16th, the deposit slip said it would post on 5/16. Here we are depending on the monies to pay our suppliers and vendors. To receive a letter on the 24th stating the funds were being held till 5/28. Crediting our account $100 of the $1,180.00. They did not first attempt to send out the letter till the 19th, then added more postage on the 21st. So in 8 days we are bouncing 20 transactions, then the fees from BOA on top of that which are $35.00 each. And then the suppliers that we paid which had bounced, their fees.
My husband went into the bank and first they told him that there wasn't anything they could do. Gave him the "Post, hard post, and available" motto. That is when I pulled out the deposit slip and it stated right on there that it would post to the account on 5/16. He went to where we opened the account and spoke with the bank manager. She refunded 17 of the 20 bounce fees that had posted to the account. Nevertheless those bounced fees had a roller coaster effect on what we had deposited after that too.
Yesterday I went to sign on to post a payroll check to notice somehow we were in the negative again when my ledger read $882 as the balance. After 3 hours on the phone trying to find out BOA legal department. I get 3 different address to send a letter to. No one person to speak within the legal department. But was supposed to be refunded again $800+ in bounce fees. Only to find out today went I went to pay for supplies that my check card was denied.
I have been since 10 am going through all deposit slips comparing statements and my ledger. There's show checks that have cleared my account but they still returned them. This is about 5 of those. Then they add back in the monies from the bounced checks which throw you off again.
Also, now that 3 of the checks that by BOA says they bounced has been turned over to Certegy. One of those Certegy had done an electronic check to also get their NSF fee. Which we were not notified till we received our paper bank statement... "GO PAPERLESS", better think twice even though you can't know what had gone on day by day to well either. I do recycle other paper by the way, so if someone wants to say I am taking trees for from the world, I need my money too!
Adding to this is where my check card was denied. So I come back to our home office and look up online to see what the balance is... What are we supposed to go by if one balance says $966.81 but up in the left hand corner says -$448.22? And again, my Ledger says $882. What is wrong here? Which is right?! I will probably post again, I need to get all my papers in order because I plan to see an attorney about this bank.
NORTH CAROLINA -- I lost my job of 10 years in November of 2008. My husband and I discussed the modification and decided to start the process in October of 2009. I filled out applications to be denied for months. This went on until I had a lady from Bank of America tell me that I would never be approved until I am 90 days behind. I was only 60 days. So I made myself 90 days behind and yep, I was approved. I received my trial payments in the end of October and made them Nov, Dec and Jan and started my new payment in Feb of 2011.
Everything was going just fine until June of 2011 when I received a letter stating I owed almost 900.00 in escrow. I called BAC and stated that this was added in on the modification and I was told no, this I had to pay extra. So my payment went from 703.91 to 784.57 until the 900.00 was paid off. In Dec of 2011, I got a letter in the mail from BAC stating that they have not received my payments from Sept, Oct and Nov of 2011 and if I didn't bring my account current in Dec of 2011, they would start foreclosure proceedings on my house.
I called the next morning and found out that all the money I have been paying all year long had been going into another account and not being applied to my mortgage. Almost 10,00.00 dollars. In the next couple days, I got some FedEx letter in the mail and the last one I got stated that there was errors in the first modification and that a new correct set of mod papers would be sent out soon.
I got those papers in Jan of 2012 signed and notarized them and sent them off. Made my payments. About four months later, I got a letter in the mail from BAC stating there was errors in the last modification and I would receive another set of correct papers and I did signed them and sent them off.
I am shut down at BAC, what I mean by that is when I call and punch in my Acct number, I am sent directly to my customer service manager which never answers her phone. I leave a message and when she does call me back, she never has any answers for my questions. My payment over the last three years went from 703.91 to 784.57 to 720.18 and now current it went up to 875.22. My interest rate started at 6.25 went to 5.25 to 4.78 and now its 6.5.
I am terrified I am going to lose my home because BAC is not doing the right thing. Every time they made a error on the modification, my partial claim went up a 1000.00 or more dollars. I shouldn't be charged for their mistakes. I can't get anywhere with BAC, it has been 3 years this month and the nightmare continues.
BRADENTON, FLORIDA -- I have a complaint as well about this institution. Everything that I have read so far from other consumers who were robbed by BOA does not surprise me. My wife and I had an account with BOA as do many married couples. Both of us have businesses which are separate accounts. My wife filed for a divorce after 20 years of marriage so we were separating accounts. However, after the removal of her name from the joint account she was still able to view my business account from the web as well as her former joint account with me but I was not able to see her accounts. (Of course I was not aware of this.)
One day, I look in my mail box and I have a couple of overdraft notices from BOA. It was late about midnight so I would look into the matter in the morning. I keep track of what my balances are but thought it must be a glitch and I'm sure I will have the matter resolved tomorrow. The following day, 4 more notices arrive. Now I'm pissed, I check my a negative balance and find that my wife (who was never an authorized agent on my business account) was able to transfer funds from MY business account into her personal checking!! And at $35.00 each meant $210.00.
So I contact the bank and they tell me that "we're sorry the online element of our system is separate from us and all we can do is refund $120.00 of the fees." WHAT? So I get a manager involved and he does some research and says "well since you accepted the 120.00 of the 210.00, you agreed to settle." "I DIDN'T SIGN ANYTHING AND WHAT DO YOU MEAN SETTLE WE'RE NOT IN COURT?"
So now, I'm asking what about the money that was stolen from my business account? ANSWER... "You'll need to take that up with the judge handling the divorce." Wait a minute so if someone gains access to my business account and STEALS money that is in there, I have to get the police involved and take them to court?! What a crock!! Where is the security? And why is she able to access my business account now which she was never able to access even when we were together.
To add insult to injury, it gets even more ludicrous. I eventually stop all auto withdrawals and let the balance get to $26.17 and go to my home branch now to close out the account. Of course, the Branch manager tries to keep me from changing banks because of our long term "RELATIONSHIP" which he fails miserably to convince me. I get my $26.17 from the teller and I'm on my way to open a new account elsewhere.
About 2 months later, I get another BOA overdraft notice and then a letter shortly after and get this for $26.17 and my BOA account is being forced close due to my negligence to pay this delinquent amount, what the **! Are you serious? You screwed me and now I 'm the blame for your blunders?! I seriously hope that if there is a collapse in the Banking system that they fall the hardest!!
BRONX, NEW YORK -- I opened an account at Bank of America 12/29/2008 hoping to transfer from Chase because I was looking to buy a home and decided I was going to use Bank of America. By 09/2009, I decided I was going to stick with Chase and went to close the Bank of America account on 9/21/2009. When I went to close it, I was told that I owed $10.95 because I had already transferred the balance back to my Chase account. The $10.95 fee was for credit monitoring that I had on the account. I paid the fee so that the account was -0- and then told the teller I wanted the account closed.
She went for another lady who proceeded to "close" the account, I should note that I've never closed a bank account before so when she told me that the account was closed and gave me my receipts for the payment I made, I went on my merry way. On 03/02/2010, I received a letter from ERS solutions Inc. stating that I owed Bank of America $128.26.
I called the bank to inquire what the charges were and was told that they were for credit monitoring. I informed them that the account had been closed since 09/21/2009 and asked how a closed account could be charged for credit monitoring. The representative told me that the account was not closed properly and that they were at fault and after giving all the details, I was told that it would be taken cared of. I had not heard anything from Bank of America since after I closed the account to make me suspicious of the fact the account was still open.
After speaking to the Representative in 03/2010, I had not heard or received anything further. Fast forward to 01/2011, I receive a letter from NCO Financial System about the same $128.26. I again explained the situation to the credit collector and contacted Bank of America only to get a run around, about how old the issue was and if I had resolved it sooner, they would be able to give me a credit. They said they no longer have access to the information since its with a collection agency.
I first called customer service who gave me the number to recovery services who couldn't help and told me to call customer service, which connected me to customer solutions that sent me back to recovery. They told me that if I had closed the account, I should have received a statement saying it was closed, which I never got and since I never closed an account and they never said that when I went to the Bank to close it, I guess I have no proof I actually closed it. Other than the fact that I am not dumb and I am cheap and hell and would never leave an account for charged to be billed for no reason.
Clearly, they are trying to make it seem as if I am at fault when I've spoken to reps who told me they were at fault and now, they try to turn the table saying I should have known that I had to receive a statement saying the account was closed. I have $128.26 that is in collection and I refuse to pay it because I spend my time and money monitoring my accounts and money to ensure I am not being scammed by individuals and it's the institutions that you trust to be trustworthy end up cheating you.
I don't pay LifeLock and check my credit report trying to keep my name clear and myself debt free for Bank of America's billionaires to try to cheat me out of $128.26. They will get that money when I die. They can dig my body out of the ground and sell my body parts in order to get that money, but as long as I am alive they will not get that money. I've never owed a single person, or company for anything. I pay all my bills before they are due but I won't pay a bill I know I don't owe. I am not made of money Bank of America and if you heard otherwise then bully for you!
Bank of America shares or/and sells personal data of their customers with 3rd party scam telemarketers. They're trying to sell BoA's products like "credit monitoring", "credit reports" and "credit protection programs" by calling you 6-10 times a day. They won't take no for an answer. They just keep calling - if you're not interested, they will simply increase # of calls. After complaining (5 emails and 2 calls to BoA), the # of calls per day went from 5-6 to more than 12 (so far today)!!
But don't blame the telemarketers, it's all Bank of America trying to make some extra money by 1) selling leads (your personal data) and 2) collecting $$$ for the "product". Bank of America should be renamed to "Scam of America". Those people are pure evil. If you want them to stop selling/sharing your info, you have to fill out a privacy form buried deep inside their website and then wait 12 weeks to be processed. Of course, by then, your data will be available to 100's of scammers so it's pretty much all pointless.
If you're complaining, Bank of America will simply ignore you - you're nothing to them. They don't care as long as they make money of you. All you get is "fill out this form" and "wait 12 weeks before we stop selling your private info to scammers/spammers". If you think your personal data are safe with your bank, think twice: read again BoA privacy statement. Fine print says BoA can share your personal data with 3rd party companies until you say otherwise.
Canceling your relationship with Scam of America won't fix this problem. If you're not their customer anymore, they will just go all out and sell pretty much everything they can about you to all kinds of criminals. So if you're already a client of this scam company, there's no way out. If not, STAY AWAY!
UPDATE: More than 20 different CSM people in Bank of America told me they're NOT SHARING ANY personal data with anyone outside the bank. But 1 of them finally stopped lying.
The majority of the transaction was done via email. All of the following points, with one minor exception, are documented in those email communications.
I was told that the total out of pocket costs for a 30 year fixed rate mortgage with 75 lender credit would be approx. $557. I was asked to pay a $400 upfront fee to begin the process. As I approached the conclusion of the transaction, I was told that the $400 fee was not included in the total out of pocket cost because it was a separate "application fee". I have never seen an application charge that was higher than $35. In addition to the $400 application fee, I was charged $35 to pull my credit.
The $400 fee was debited to my credit card twice. B of A never discovered the double charge. When I alerted them to the overcharge, it took them 41 days to provide me with the refund.
The US Treasury Department allows the Banks to use an approved data base for appraisals in order to save the homeowner that expense. A customer advocate in Bank of Americas Office of the CEO explained to me that the bank charged the fee because since I didn't have to pay for an appraisal, they were entitled to charge this additional amount.
I was told to go to close without having had the opportunity to review the documents that I would be signing. The Bank's representative informed me that I would be sent one set of documents to review and then meet with a notary to sign a "duplicate" set. I had to fight with the Bank in order to have them send me the actual signing documents prior to close in order to review them properly.
Because of the policy of not including the upfront application fee of $400 in the total amount of funds required at close, there was confusion on my part as to the amount of funds that I needed to bring to close I was short by around $400. I thought the amount B of A chooses not to provide a representative of the bank at close, only a notary is present. The notary was not an employee of B of A. Notaries are not present to clarify terms in the loan docs. They are only present to make sure that signatures are placed in all the appropriate spots. I waited to hear from the Bank regarding the issue of funding. No one contacted me.
After a week, I called them and was told that until I paid the difference, I would be paying interest on both loans. This ended up costing me an additional $132 in interest charges. No one At B of A has ever explained to me how I could have had two loans in place at the same time.
There was no reason to expect that these documents would not also be sent to my home. B of A has my email and phone info. No attempt was made to contact me and alert me to the situation. I only discovered the problem when I contacted them. As a result, the check that should have arrived within 20 days of close took 48 days to reach me.
During the entire Refinance process I was never able to actually communicate with the individual that was designated as the loan officer that would handle the close. He was actually the third loan officer I attempted to communicate with. The first 2 had become MIA. I was never able to communicate directly with this individual. The email address that I was provided was invalid and despite many attempts to talk via phone, he never returned any of my calls. All communications with this individual had to made via a third party. This individual was not a loan officer.
On July 26, 2010, I spoke with ** who is a customer advocate in Bank of Americas Office of the CEO. He informed me that all the points that I have raised here are standard procedure for the Bank.
I lost my job on March 13 2010 and decided it would be a good idea to close my Bank of America Savings Account and transfer the money into my checking account until I received my unemployment check. My checking account and savings account were linked. I also a "keep the change" on my checking account which takes charges from your debit card and rounds up the change and dumps it into your savings account.
On March 13, I used my debit card at a fast food restaurant and exactly three days later, the keep the change amount comes through to my savings account the same day that I closed it! The banker at Bank of America in Henderson NV off I-15N on Blue Diamond RD did not unlink my checking account from the savings account and did not turn off the "keep the change" product. Therefore, she closed the savings account didn't follow banking protocol and exactly $1 was left in the savings account.
I received a letter explaining that the savings account was closed and the balance owed was 0. Therefore, since the teller did this, I could no longer review the account online. On May 13 2010, the savings account maintenance fee of $5 hit the account because the account never closed because of the $1 that was left inside of it! The bank teller never delinked everything upon closing the account. During these weeks, I was in and out of different Bank of America branches and none of the tellers who made my deposits into my checking account told me the savings account was open and overdrawn.
Well, on June 13 another $5 maintenance fee hit the account, on July 13 another $5 maintenance fee hit the account and on August 13 another $5 maintenance fee hit the account @ $5 a piece. So, the bank kept my savings account open and didn't ask me if I made any purchases the day before because keep the change might drop into the savings account which would leave it open. The moron banker didn't delink the account and close "keep the change."
Now I may have been reported to ChexSystem and Telechek for an overdrawn savings account when the entire ordeal was Bank of America's fault! I received no alerts online, no emails and no physical letters in the mail and to top it off, none of the employees at the branches told me! I found out yesterday August 19, 2010. Then I finally got someone to delink everything and close the account.
When I got home, an email came in that read, "Bank of America will assess $35 fee towards your savings account on 8/24 even though the savings account has been closed 2 x's with a positive balance." Then the banker tells me today that it takes 10 days to close a savings account permanently and you will get that fee regardless! When I go and explain myself, the bank tellers are extremely standoffish even stating they must review my account to ensure my honesty! Please dear Lord, come and help me!
I remitted mortgage payments on time via ONLINE BILL PAY to BAC Home Loans Servicing for the months of April, May, June and July 2010. My Fed Credit Union assisted me in verifying that those payments were received and acknowledged by BAC on time. Still I am charged non-receipt of payment/late charges/interest by BAC and after numerous phone calls to their customer service reps (a true misnomer), no resolution has been achieved. I have also written to the several addresses from which their idiotic notices were mailed.
Five years ago, I was the victim of bank account fraud. I worked with Bank of America to resolve the situation and correct my accounts. Now, five years later they decided to close my accounts based only on this fraud incident and charge me a $50 fee to do so.
In 2005, my Bank of America checking account was breached. I live in Seattle, WA and discovered a withdrawal from my account in Alabama. I immediately contacted Bank of America that told me my mailing address was changed in their system to an Alabama address. Apparently, someone was able to contact Bank of America, convince them that they were me, change the address on the account and issue a new debit card to the new address. We worked with Bank of America to close the account and issue a new checking account. The bank credited the account for the lost money and everything seemed resolved.
I have always been a very good Bank of America Customer. I conduct most banking electronically and do not run overdrafts. I own a premium Bank of America credit card and owned a savings CD. Earlier this year, in 2010 I opened a new business account and credit card. Everything was going well with the account until we received a letter regarding our new business accounts.
The letter we received said that Bank of America “has elected to close your account in accordance with the provisions of our Deposit Agreement and disclosures provided”. It then stated that Bank of America “may report the account to Chex Systems, Inc., an account verification service. This may adversely impact your ability to open an account at another financial institution for up to five years.” While the letter included a phone number for the Risk Identification Center, it provided no explanation for the account closure.
The only accounts affected were the new business checking and savings accounts. Instead of calling the number, I decided to go to my bank branch and speak with the manager that set up my recent accounts. She mentioned that everything appeared fine with all of our accounts and did not have any information why the new business accounts would have been closed.
The manager called the Bank of America Risk Identification Center and the gentleman stated that the reason the accounts were closed was due to a 2005 incident involving “electronic transfers”. He did not know any details and said that “any time an account is closed by the Risk Identification department, the customer can no longer conduct business with Bank of America.”
After I explained the 2005 event to the Risk representative he told the bank branch manager that she could try escalating the matter. Two days later I received a voice message from the manager apologizing for the policy, but that the bank could not reinstate my account. After getting the message, I paid a visit to the manager again.
She told me that the Risk Identification department has only been around for a couple years and was not even in existence when this episode happened. She asked if I had any paperwork about this incident from 2005 and I told her that Bank of America should have everything already. She stated that management would look at and consider any information I could provide about the 2005 incident.
Apparently, the bank has very little information from five years ago and is asking that I provide it. Bank of America handled the matter in 2005 and did not provide me with any follow-up correspondence as to the details after I reported it. She then stated that there was no risk to any of my personal accounts, the accounts I re-established in 2005.
I decided to call the Risk Identification department again to double-check if there were any other reasons for closing an account in good standing. The woman on the phone confirmed that the only reason for closing the account was the event in 2005. She reiterated that it is their policy to close all customer accounts no matter the reason if the Risk department initiated the close. I told her that in 2005 I contacted Bank of America and worked with them to close the account and reopen a new one. She could not confirm anything in regards to the matter except the bank policy. She didn't seem to have any information about the event.
Also interesting is that the representative had no idea about the other accounts I had at Bank of America (not even the personal account I re-established in 2005). When I mentioned it, she looked up my account numbers and said that these may be in the process of closure as well.
Bank of America is passing the blame to their customers. When criminals breach Bank of America security protocols and they decide to close an affected customer account, they will not allow you to conduct business again with Bank of America and will post a notice on the Chex system for all banks to see. The details of the events leading to closure do not matter and they may not even have any past records of the event. They essentially pass the buck to the fraud victim and even charge $50 to seal the deal.