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Account Closed and Charged
By -

BRONX, NEW YORK -- I opened an account at Bank of America 12/29/2008 hoping to transfer from Chase because I was looking to buy a home and decided I was going to use Bank of America. By 09/2009, I decided I was going to stick with Chase and went to close the Bank of America account on 9/21/2009. When I went to close it, I was told that I owed $10.95 because I had already transferred the balance back to my Chase account. The $10.95 fee was for credit monitoring that I had on the account. I paid the fee so that the account was -0- and then told the teller I wanted the account closed.

She went for another lady who proceeded to "close" the account, I should note that I've never closed a bank account before so when she told me that the account was closed and gave me my receipts for the payment I made, I went on my merry way. On 03/02/2010, I received a letter from ERS solutions Inc. stating that I owed Bank of America $128.26.

I called the bank to inquire what the charges were and was told that they were for credit monitoring. I informed them that the account had been closed since 09/21/2009 and asked how a closed account could be charged for credit monitoring. The representative told me that the account was not closed properly and that they were at fault and after giving all the details, I was told that it would be taken cared of. I had not heard anything from Bank of America since after I closed the account to make me suspicious of the fact the account was still open.

After speaking to the Representative in 03/2010, I had not heard or received anything further. Fast forward to 01/2011, I receive a letter from NCO Financial System about the same $128.26. I again explained the situation to the credit collector and contacted Bank of America only to get a run around, about how old the issue was and if I had resolved it sooner, they would be able to give me a credit. They said they no longer have access to the information since its with a collection agency.

I first called customer service who gave me the number to recovery services who couldn't help and told me to call customer service, which connected me to customer solutions that sent me back to recovery. They told me that if I had closed the account, I should have received a statement saying it was closed, which I never got and since I never closed an account and they never said that when I went to the Bank to close it, I guess I have no proof I actually closed it. Other than the fact that I am not dumb and I am cheap and hell and would never leave an account for charged to be billed for no reason.

Clearly, they are trying to make it seem as if I am at fault when I've spoken to reps who told me they were at fault and now, they try to turn the table saying I should have known that I had to receive a statement saying the account was closed. I have $128.26 that is in collection and I refuse to pay it because I spend my time and money monitoring my accounts and money to ensure I am not being scammed by individuals and it's the institutions that you trust to be trustworthy end up cheating you.

I don't pay LifeLock and check my credit report trying to keep my name clear and myself debt free for Bank of America's billionaires to try to cheat me out of $128.26. They will get that money when I die. They can dig my body out of the ground and sell my body parts in order to get that money, but as long as I am alive they will not get that money. I've never owed a single person, or company for anything. I pay all my bills before they are due but I won't pay a bill I know I don't owe. I am not made of money Bank of America and if you heard otherwise then bully for you!

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Bank of America is sharing/selling your personal data
By -

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.

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REFI ripoff hidden fees
By -

The majority of the transaction was done via email. All of the following points, with one minor exception, are documented in those email communications.

  1. 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.

  2. 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.

  3. 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.

  4. 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.

  5. 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.

  1. When B of A mailed me my first mortgage statement and escrow refund check, they were returned to the Bank. Instead of sending the items to my residence, they sent them to the property address. All previous written communications had been sent to my home including the loan docs. The refinance was always characterized as an investment property.

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.

  1. 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.

  2. 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.

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Bank of America's Employees Are Morons!
By -

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!

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How Can I Achieve Redress Re Late Charges/Interests Charged Me in Error
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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.

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Bank of America Closes Fraud Victim Accounts with a $50 Fee
By -

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.

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Incompetent, Unhelpful and Dishonest
By -

FLORIDA -- Our experience with BOA started with a BOA screw up. To mend fences with the law firm my husband then worked for, BOA offered to give all the attorneys "Premier" accounts. We gave a mortgage to BoA for our home, we took out an equity line, and established personal checking, savings, and then later our operating and attorneys' trusts accounts for our own firm, IRAs, Roth accounts, and investment accounts. What did BoA do? First, they lost our mortgage and sent a nasty letter saying we had to execute their new mortgage. We did not. We sent a copy of the mortgage we had, and re-executed it.

Let's see... Then, BoA manager locally griped because I asked for more than one copy of a notarized document. Yep, that was pretty dumb. But that is how petty BoA was. Then, we got the F** letter. That meant that we no longer were eligible for the premier account because after the collapse that BOA helped cause, we no longer were rich enough for BoA to honor their promises (which, of course, were given because of their initial screw ups).
Finally, we discovered that we were being charged fees for maintaining our equity line, although we had a zero balance. We asked for the line to be closed, and they said we had to come into the branch to do so.

Between the time they told us that, and we could get into the branch, they charged more fees! We paid the fees (for the privilege of maintaining a zero balance) under protest, and signed the forms they requested we sign to close the account. However, we crossed out and amended their "forms" since they demanded that we waive our rights under state and federal law which BOA had no authority to require and we certainly had no obligation to give. Cute, no? To close an account, when we owed NOTHING, they demanded that we waive our rights under the law.

The branch manager wrote on the form that she "advised" us that BOA "may" not accept the amended form. They MAY NOT ACCEPT THE AMENDED FORM? BOA has no right to refuse to cancel our account, when we owed them nothing. In fact, we notified the branch manager (a robot, I'm convinced) that if BOA does not give us a satisfaction within 60 days as allowed by our state statute, then we will sue them for attorneys fees and damages. This is an incredibly deceptive practice by BOA, since BOA has no legal authority to demand this. I actually almost hope they "lose" our satisfaction, because I would relish suing this bank.

We finally got a promise from BOA manager's manager that they would refund us the fees. My guess is that this check will get "lost" like they lost our mortgage, and fumbled the ball with the law firm. If you are even considering Bank of America, reconsider! This bank is the scummiest, most inept and outrageous excuse for a bank I have ever seen. If anyone out there has experienced similar problems with BOA, WE would consider filing a class action. We are lawyers.

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Stay Away From Bank of America... They Should Be in Prison!!!
By -

I have had my account at Bank of America for 28 years. I didn't open the account with them, but rather with another bank that they subsequently took over. Be that as it may, I have had this account for 28 years. I recently wrote a check for $2000 which overdrew my account by $113. My mistake, and I had no problem being charged the $35 that they charged me. However, what I DID have a problem with, was what they did next.

They went back and reversed out the 9 small items such as milk, and bread and small items that I had bought with my debit card PRIOR to writing the $2000 check, posted the $2000 check FIRST, which caused the account to be overdrawn PRIOR to posting the small items. In other words, they re-shuffled ALL the charges I made to enable them to charge $35 for 9 small items. This of course is 9 x $35 = $315 of nonsense charges.

When I called to complain, I was told that they do it this way, because THIS is what their customers requested. They admitted that they re-shuffle the charges from largest to smallest NO MATTER IN WHAT ORDER YOU MAKE THE CHARGES. In other words, if a customer spends $10 while there is a positive balance in that customer's account, and then spends $1000 that causes this account to be overdrawn, THEY GO BACK and first put through the LARGER amount, which causes the account to be overdrawn, and THEN clear the smaller amounts which trigger the fee.

If you write ANY check that causes your account to be overdrawn, ALL the charges made to your account are re-shuffled into an order that allows the bank to maximize the fees that they charge you. I am an Accountant by profession, and this process gives a whole new meaning to the term "fuzzy math".

Once I saw what was going on, I IMMEDIATELY ran to the Bank and deposited $5000. Well, this nightmare was FAR from over. They put a hold on 90% of the check, which written on the deposit slip, it said that the check would clear on 4/22. How you clear a PORTION of a check is beyond me. A check either clears or it doesn't. Be that as it may, I waited until 4/22, and then pulled up my account on the internet. They had NOT cleared the check by 4/22 and had now charged me another $315 of fees. 9 small items like small groceries where I had spent $10 here, and $20 there.

In the interim, the $5000 had already cleared the bank on which it was written on. I called Bank of America, and was told that there was nothing that they could do. If I wanted to take my business elsewhere, that was fine with them. I notice that the list of complaints against them is long and egregious. If there is anyone else that would like to participate in a class action lawsuit, or any lawyers looking for more victims, put me down. These people are criminals, and something MUST be done.

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Somebody Has to Stop Bank of America. but Who?
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Is there any benefit in having a good credit score and credit history? When I moved to this country in 2000, I thought there was and I must admit that because of my good credit I was able to accomplish many things. Unfortunately economy changed and it seems that now having worked hard in maintaining a good credit does not pay off any more and I am concerned of the message Bank of America is sending out to young people.

1st problem with Bank of America: As a high percentage of the population I am upside down in my condo, I owe around 149K and it is only worth 60K. Per Bank of America I do not meet the criteria for hardship so I do not qualify for a refinance program and I do not have 30K to come to the table to enter the restructure of debt program. As a matter of fact I really do not want any of those; I want a debt elimination program which of course is not available. I have always been a good client, paying my mortgage on time or earlier, never late whether the mortgage was under Bank of America's name or Countrywide before them.

I tried to negotiate my mortgage with them offering to split the loss in value of my condo between the two of us and informed I was willing to pay 90K for my condo (50% more than market value) if they would reduce their part (39% of the debt).

In my simple mind I was thinking that if I decide to ruin my credit and walk away from the place they will have to sell it at 60K, so I thought offering 90K was a good deal for all of us, but they insist in not having loan elimination programs. How do they call it when they have to eat the gap between the debt the prior owner of the residence had and the re-sale of the property at 60? And I am not including in my calculations the expenses to maintain the place until they find a buyer. Isn't 59K write-off better than 89K?

2nd problem with Bank of America: I had a 27K credit limit in my credit card, accumulated points on it and paid it off every month. Once I used a Balance Transfer deal, which I also paid off on time before the promotional rate expired. I have been a credit card client since 2001. Bank of America sends me a letter offering a 0.99% interest on balance transfer which I resolve to use because I had another credit card debt which 0% was expiring at year end. I've been on the phone with the representatives several times asking for some details and making sure I was doing my homework. They confirmed it was better to leave the balance at zero before doing the transfer.

So, I put my account in zero and when I call to do the transfer, I was informed the account was closed because I have too much credit card debt and they did not want me to have more. I appreciate their concern on my financial business but the balance transfer was going to be used to cancel other credit card debt so my overall credit card debt was not going to increase.

It is difficult for me to understand why the decision was so shortsighted. The focus was only on one aspect of my credit and my impeccable history with them in all my accounts did not count at all. Nobody asked about my intentions on what I was doing with the transfer, nobody cared how good of a client I had been since 2001 or what sources of income I have.

As if this was not bad enough, they said the points I had on the card (which added to 23K, equivalent to 23K dollars spent on it) were forfeited. After several phone calls and customer service representatives they felt kind enough to mail me a check for $172.50 as payoff for the points. Of course it did not matter to them that I had requested to have the option to choose from the catalog instead of receiving a check, but again that was only a customer request, it really doesn't matter to them.

So in just one brush, they took away my ability to manage my own finances, they took away my points and they worsen my credit by reducing my borrowing capability. Bank of America, with their actions made me the kind of client no bank wants to have. Obviously we are not in control of our own credit, others are and unfortunately not the ones who are really interested in helping you out. So now, I ask again, is there any benefit in having a good credit score and credit history?

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Bank wire nightmare and customer abuse
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I am currently in USA and I was going to buy collectibles from various countries from one seller (last year in October, that's 3 months ago!) for my collection and a couple items that were made in Myanmar, a buddhist country, which total less than 10% of the total amount I will spend. Those items are all located in Germany at my friend's place, not in Myanmar! So I tried to send a bank wire via BANK OF AMERICA, but they froze my wire telling me I am not supposed to buy something from Myanmar. OVERDONE!

When I signed up to Bank of America's SAFEPASS card to be able to send bank wires from my PC (banking centers do not process wires anymore! and I had a 2 hour torture-wait in a bank branch not once and not twice! just to find out they will not do a wire for me!) they did not tell me that I can not buy anything made in Myanmar. Well, the postcards are located in Germany and not in Myanmar.

So now BANK OF AMERICA froze my wire without sending it, but also they will not cancel it and started questioning me very private questions like who is the seller and who is the buyer and they want to see the shipping documents etc.! Well, duh! The buyer is me! I told them that many times! Also the compliance manager of the bank emailed several times my and my friend's bank account back and forth and other sensitive private data via unsecure email. The manager sent my bank account even after I emailed them and asked to not send such sensitive data via email!

They are treating me like a criminal after all those years that I have been their customer! OVERKILL! It looks like now they made it a big deal and they want to investigate me, probably suspect in terrorist connections!? All because I want to buy collectibles for my collection? That is DISGUSTING! Look how many items made in Myanmar are for sale on the web! eBay is not shutting those items listings down! Why should I be bothered, especially after I told them I have asked my friend to send me some other country's items in place of Myanmarians.

I think this "compliance" department from Bank of America are enjoying annoying their customers! No wonder they made so hard to send bank wires between ordinary people by small amounts! My amount was less than $1000 only! And they made me sweat (get SAFEPASS, while first two times they lied and never sent my safepass card! I was waiting for it for a month until I realized they never sent it - that happened twice!) for over 2 months trying to send that wire and it's not sent yet! Now it is frozen and is under in-ves-ti-ga-tion! Wow, what a big deal!

Someone bought a couple stamps with Myanmar on them! Wow, going after small guys is easiest! How about catching Bin Laden? No... Bin Laden is still free, because it's all a fake game! Customer at Bank of America is always wrong and bad!

P.S. Update: now Bank of America stopped my wire and notified me by email about that, it says "failed". They sent me a receipt for $35, so they seem to still charge $35 fee even if the bank wire was not processed... Sincerely, soon to be ex-BofA customer.

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