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Bank of America Lost My $30,000.00 CHECK
Posted by Jasara3234 on 03/21/2013
Bank of America
Bank of America
JOPPA, MARYLAND -- So my wife received a bonus check for 30000.00 dollars. We deposited into the ATM at the Joppa, Maryland location. We looked at our bank account online the next day and noticed they approved then denied the deposit. We called the branch and asked why they denied the deposit, the manager stated that the amount of the check was too large to deposit through the ATM. We asked where the check was they said we don't know because are ATM's are not serviced by the branch. They said that the checks are picked up daily then shipped or mailed to the Phoenix Arizona location.

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

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

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

I advise anyone banking with them to close there accounts and seek better service at PNC or Wells Fargo.
     
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Posted by clutzycook on 2013-03-22:
Yikes! That's a lot of money to trust to a machine!
Posted by DebtorBasher on 2013-03-22:
I would explain this to the company you got this bonus check from and have them put a stop payment on the check, and cut you a new one.
Posted by madconsumer on 2013-03-22:
have the issuer verify the check went thru processing and was cashed. if not, simply have them stop payment on it, and re-issue you another. any deposit over 10k has to be handled by different means. over the 10k mark, the government has different regulations and reporting requirements.
Posted by Chaparrita on 2013-03-22:
I would never deposit a check that large into an ATM. I don't trust a machine with something like that.
Posted by Obsfucation on 2013-03-22:
That check you received is not from a regualr printer. It is called an IRD and is indeed, perfectly negotiable. As DB says, you can have the original stopped and get a new check, but personally I'd take the IRD in to the Branch Manager and have it credited to my account.
Posted by Gilbert on 2013-08-02:
I went into the bank to get a secured credit card they said my card will be here in 5 days I have not received my card I go back to the bank they said I was denied I set for secure credit card they said yes I said okay give me my money back they said your money will be back in 9 days 9 days go by I have not received my moneyand now its been 35 days and still have not received my money they are they keep giving me the runaroundI call down there and they hang up on me now they have been telling me my check will be ready by the end of the day now that's been going on for weeks I call customer service and they can't get ahold of the branch I said how is this customer service if you can't get a hold of the branchwhat I think they do they do this to a lot of people and they get to hang on to their money an investor
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HOME MODIFICATION PROBLEMS
Posted by Chinsako1 on 04/21/2010
I began a Home Modification procedure in November of 2009-I was told to skip October's mortgage payment by the girl I initially spoke with who did not know her butt from a hole in the ground. I sent OVERNIGHT EXPRESS MAIL postal money orders to the address in Getzville New York. I made the payments BOA requested (from $1022.00 original mortgage payment to the requested $885.00). After I completed the three month trial period I was told to continue paying the reduced amount. What bank of America does not tell you:
1. they are trashing your credit rating by reporting to the three credit bureaus that you are making partial mortgage payments that the BOA told you to make.
2. the home modification process does not reduce your mortgage payment unless you have a very high interest rate.
3. you will be lied to and given wrong information by the neophytes that work in the customer service department-most do not know manure from apple butter.
MY ADVICE: STAY AWAY FROM BANK OF AMERICA FOR ANYTHING!!!!!
I am selling my house and get as far away from these idiots as possible.
     
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Posted by whatsthe_prob on 2010-04-21:
A home modification is a "settlement" on the original mortgage amount. Of course they're going to report this to the credit bureaus. The only way to avoid it is to pay the original amount agreed on. You can't have it both ways.
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Nothing but Thieves and Liars
Posted by Como651 on 02/13/2010
Avoid this company unless you want to be repeatedly robbed of your money. I was told that if I opened combined investment accounts totaling $50,000 or more I would not be charged maintenance fees. I did this and then they started to charge me maintenance fees on all my separate accounts. I did not discover this until after a year when several hundred dollars were stolen from me. I called, complained and they said it was a mistake and paid back my money without interest. After another year it happened again. I called they said that this should not have happened and put in an order to reverse the fee. I was put on hold and disconnected one time then was given I'm sorry but I don't understand why this keeps happening. I was basically told go invest somewhere else if you don't like it after I asked them why I should continue to bank with them and have to constantly babysit my money. I plan to do just that if I can find another investment company that isn't crooked like this one. Is there a bank out there you can trust these days?
     
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Posted by Mrs. V on 2010-02-13:
Try a credit union. They seem to be doing really well.
Posted by Soaring Consumer on 2010-02-14:
Best answer Mrs. V.
Posted by Northville on 2010-03-16:
Bank of America is actually a bunch of theives
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Bank Of America - Interest on interest
Posted by Andy2009 on 10/06/2009
I've a AAA Gas rebate Bank of America Visa credit card and while I was looking at recent monthly statements I found how Bank of America grossly misleads customers and collects interest through devious methods. Here is what happened in my case and same must be true for all customers therefore good cause for class action suit, and request all customers to look closely your statements if you took cash advances any time.

Initially AAA card was offered to me with low interest rate balance transfer. After the initial offer period, interest rate on my balance transfers and purchases gone up to 13.99% and now I've cash advance interest rate of 19.99%. Looking at my recent statements I took $300 and $400 as cash advances. I took second cash advance way back in Nov’08. Even though I never missed single payment cash advance amount now shows $1064 instead of (($300+$400)- prorated monthly payments applied to cash advance amount) of less tan $700. When I spoke to customer representative reasoning he gave me was every month though I make monthly payments regularly, they add 19.99% interest amount accrued monthly on cash advance to original cash advance amount. That means to start with I had $700 as cash advance, next month it became 700+11.66 =$711.66 as interest added to original amount. In next month statement they calculated 19.99% interest rate on $711.66 so the cash advance amount now became $723.51 and goes on and on, even though I make my monthly payments. monhly paid amount is applied only to balance transfer/purchase amount where as cash advance amount keeps growing leaps and bounds. This is kind of charging interest on interest every month, which is kind of deceiving customers with hidden charges. Customers will have no clues unless they drill down and see or find out through some analyst. This is like day light robbery by same big bank which was bailed out by our tax $$$. This greed should come to an end else most of American end up in debt trap. Govt should act fast and stop this bleeding.

- Andy
     
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Posted by Anonymous on 2009-10-07:
You pay interest on the BALANCE every month you hold a balance. So you are paying interest on your cash advance every month, as well as your normal monthly balance interest. This is outlined in your disclosure statement you signed when you applied for the card.

No different than any other type of loan.
Posted by grandma005 on 2009-10-07:
All payments go to the lowest interest balance-regular charges. This means until you have a zero balance on your regular charges no payments to your cash advance balance will be posted. That is why if you do a cash advance on a card you have to have a zero balance to begin with and you cannot use the card again until cash advance balance is paid off. This method is about to change soon.
Posted by lobo65 on 2009-10-07:
Cash advances are never a good deal. You're better off getting a loan from a pawn shop.
Posted by JR in Orlando on 2009-10-07:
The government has, that's why Chase and other banks have raised their minimum payment amounts so that people pay off their cards in a reasonable time. Then people complain because the minimum payment is too much.

Posted by PepperElf on 2009-10-07:
in a way ... it's becoming a bit of a fact that it's better to NOT buy stuff with credit cards, not if you can't pay it off right away.

I rather wonder really... the stats on what people purchase with regular credit cards... how many of those purchases are "wants" and not actual "needs"

Like, oh a big-screen tv - that's a want. no one needs TV to live.

True needs? Food, shelter, clothing.
Secondary needs: purchases or items that allow you to go to work or seek employment.

but keep in mind, there is no requirement that these items be top-of-the-line or expensive.

sometimes it's better to start doing without fancy treats unless you're in a position that you can afford them.

I mean sure I can go and order the pizza I want, but that could cost me up to $30. For $30 I can buy enough groceries to last me a good 2-3 weeks if I plan things out properly & do my own cooking

Basically, in my opinion, people have gotten addicted to the idea of living like they're rich. When reality tells them differently, many people get offended by this instead of owning up to their own responsibilities.
Posted by Disaster Worker on 2009-10-07:
First, don't take cash advances out on a credit card. Make a family budget based on your income and stick with it. (Always have to put in that disclaimer first.)

Second, this situation is the same as your savings account getting compounded interest. Good interest is added to good interest, making your more money. Yes, you're paying out the nose for $700, but it's not illegal for the credit card company to make money on it.

I like PepperElf's advice as well. Common sense goes a long way.
Posted by PepperElf on 2009-10-07:
thanks.

i was thinking about getting pizza the other night but then i realized how many groceries i could get for the same price, including some homemade pizza
Posted by Anonymous on 2009-10-07:
Pepper we think alike. Sure I like my HoHos and Ding Dongs, but I really do not need BOTH at the same time. So I make myself compromise...1 box this week, 1 next.
Posted by Andy2009 on 2009-10-08:
This is like a daylight robbery or ponzi scheme crafted by Bank of America. Here are the details how it works. I'm taking bigger credit limit for bette understanding. Assuming a consumer has $100000 credit limit of which assume $10,000 taken as cash advance and $10,000 purchases total so the total balance on this is $20,000 and consumer pays minumum amount + some additional amount every month. Even though consumer pays every month this is applied only to purchase amount and interest accrued on $10,000 cash advance is added back to original cash advance. In my case for example interest rate is 19.99%.
This $10,000 cash advance amount will become $72682.54 in 10 years even though I make minimum payments every month. See how I go these nos:

Year 1, compounding after month #1

Current principal is $10000.00
Interest earned on $10000.00 is $10000.00 × 0.0166667 = 166.67
This makes your new pricipal $10000.00 + $166.67 = $10166.67

Year 1, compounding after month #2

Current principal is $10166.67
Interest earned on $10166.67 is $10166.67 × 0.0166667 = 169.44
This makes your new pricipal $10166.67 + $169.44 = $10336.11

Year 1, compounding after month #3

Current principal is $10336.11
Interest earned on $10336.11 is $10336.11 × 0.0166667 = 172.27
This makes your new pricipal $10336.11 + $172.27 = $10508.38

Year 1, compounding after month #4

Current principal is $10508.38
Interest earned on $10508.38 is $10508.38 × 0.0166667 = 175.14
This makes your new pricipal $10508.38 + $175.14 = $10683.52

If we apply following formula for 10 year period(or 120 months):
$10000.00 × (1+0.0166667)120=$72682.54

I'm sure at this rate I don't see a bigger robbers than these banks. Its hightime legislature, media and FBI take these bulls by horns.
-Andy

Posted by Anonymous on 2009-10-08:
Andy, again, it is all in the user agreement you sign. Don't agree, do not use the card. You can't have the benefit then complain about the structure later.
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Lost a Loyal Customer
Posted by Steph12345 on 07/31/2009
CALIFORNIA -- August 1, 2009

To Whom it may Concern-

I want to Thank You in advance for reading my long and detailed email.

After being a customer of Bank of America since 2002, I closed my Account's today. This was a very hard decision to make as I believe long term relationships between establishments and their Customers are very important. I closed my accounts after I received inexcusable treatment from two different employees at your Newbury Park Branch located at 2345 Borchard Rd. Newbury Park, CA 91320. Being a former BofA employee myself, I am very aware of the standards and expectations BofA has of their employees in regards to customer service.

I went into the branch yesterday June 31, 2009 to make a deposit. I was gestured to come over when it was my tur n by your Teller. As I approached the counter he took my deposit with out so much as a word or any eye contact. ; I then asked him if he was having a bad day, which he then mumbled "No". I then said it just seemed strange because everyone is usually so friendly at BofA and I receive such excellent customer service. He then looks and me and says "Huh?". I repeated myself. He shrugs his shoulders as if I'm joking and mumbles "I don't care" with a smirk on his face. At this point I am completely dumb founded. I took my receipt and left. When I came home I explained what had happened and found out that two members of my family had received very similar treatment from the same tell and knew him on a first name basis as they had already made complaints to your Manager about him. Confused as to why he was still giving such poor customer service after receiving complaints about him, I called the bank and spoke with the manager. After explaining what had happened she simply said she would speak to him and asked if I needed anything else. I told her no and that I would be in tomorrow to close my account's to my surprise she said casually said “Okay” and hung up.

Today I came into the branch and waited to speak with the manager. After she called me over, without making any eye contact, I sat down and she took my ATM card, still the same treatment (not a word and no eye contact). When she was ready she looked up and asked "what are we doing today?" I told her I was there to close my account. She then tells me I can do that with a Teller and to give her a minute to get the codes. After a moment I told her how disappointed I was that I had to close my accounts and could not believe that she didn't offer an apology or show any concern to keep me as a Customer. She then throws her hands up in the air saying " You were the lady that called last night, I spoke to him, there are two sides to every story, he claims nothing you said happened and I have nothing more I can do for you". I then told her as she could see by reviewing my account's at one time I had over six figures with BofA and unfortunately due to hard times that is no longer the case, but if it was I'm sure we would be having a completely different conversation. Her response: "Possibly". WOW!

I highly doubt that Bank of America is doing so exceptionally well during these hard economic times that you can afford an employee who has no regard for giving good Customer Service, not to mention retaining loyal Customers. I will be forwarding this letter to Customer Solutions, all of my former BofA Colleagues, all So. Cal BofA branches, and everyone in my Address Book.







     
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Posted by madconsumer on 2009-07-31:
here on the east coast it is still 7.31.09.

all this over a non verbal employee?
Posted by Anonymous on 2009-07-31:
??? Indeed MadC, that would also make it 7:17 pm on 7/31 right this minute on the west coast.
Posted by PepperElf on 2009-07-31:
I personally don't require employees - even if they are "serving" me - to be bright chipper and sweet. As long as they do what's needed that's good enough.

Why should I demand them be perfect robots when I cannot do that myself?


Maybe he was having a bad day. And before anyone says "well keep it at home!!!" remember... he's human. Sometimes you can't just magically erase a bad mood just because an employee demands you smile and be sweet.


Or... as one story I read went...
Customer ordered a coffee and the barista didn't smile. The customer needled her about it saying "Why aren't you smiling?!!!!"

The barista said, "My dad died last night." And then started to cry.



This is why you NEVER needle an employee about why he or she isn't smiling and buttering up the customer.

Sometimes they have a valid reason to be unhappy. We are NOT gods to demand they shut off all emotion just to make us feel good.
Posted by Anonymous on 2009-07-31:
oh shenanigans, pepper elf. they are not humans, they are robots, here to serve and serve with a smile, always a smile.

oh and mad c, the date, according to the review, is 6/31/09.
Posted by Anonymous on 2009-07-31:
KJ, where be this 6/31 you speak of? The OP listed the date at the top of their complaint as 8/1/09.
Posted by Anonymous on 2009-07-31:
"I went into the branch yesterday June 31, 2009 to make a deposit."

considering the letter date says 8/1 tho, I guess they really did mean 7/31.

Posted by Anonymous on 2009-07-31:
It's very confusing using the word "yesterday" in a review that was clearly posted today, especially since there is NO June 31st.
Posted by PepperElf on 2009-07-31:
maybe she was having a "bad day"

like the employee was....

Posted by grandma005 on 2009-08-01:
When I go inside of a Bank to make a deposit all I care about is making sure the deposit is correctly made to the right account. I am not there to start a social club. I don't care if they talk to me or not. By not talking to me the line moves faster for others. Talking creates mistakes. How would you like a Teller talking to you while counting out money too?
Posted by ejack053824 on 2009-08-01:
Like Stank of America cares.
Posted by Anonymous on 2009-08-01:
Why is it any of your business if he is having a bad day or not? Are you his therapist?
People still need to work to earn a living no matter what personal problems they may be dealing with.
I personally prefer no conversation over meaningless small talk.
Posted by yoke on 2009-08-01:
This has got to be some type of joke.
Posted by madconsumer on 2009-08-01:
"August 1, 2009

To Whom it may Concern- ..."

"yesterday June 31, 2009 ..."

there are two conflicting dates given. therefore this review has close to none creditablility.
Posted by DebtorBasher on 2009-08-01:
I'd like to know when June ever had 31 days in it.
Posted by Anonymous on 2009-08-01:
Considering how cheerful she was to close your accounts, I suspect this wasn't your only, or first issue with them.
Posted by ticia232 on 2009-08-02:
Why am I having a major feeling of deja-vu? I swear I have seen this exact complaint written on here well over a year ago. And I don't mean a similar complaint I mean this exact complaint (even the exact same relatives that had problems as well.)

Well at least that explains the date problems since someone is obviously recycling old complaints.
Posted by BOAsucks on 2009-08-18:
the BOA that we should all aware:

http://www.youtube.com/watch?v=bCfS6Pj_qh4
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Settlement Fraud
Posted by Rexljones on 12/15/2008
On October 31, 2008 I contacted FIA card services for Bank of America in order to pay the remaining balance of my overdue credit card account. As specified by the customer service representative XXX, my remaining balance on that date was 718.49. I informed XXX that I would not be able to pay that balance and asked him if there were any alternatives. XXX informed me that I could arrange a settlement agreement for 560.00 but that it would have an adverse effect on my credit report. I then asked XXX if he could credit the latest months over limit fee and late charge because I would then be able to pay that amount. XXX informed me that this would be acceptable and proceeded to credit the latest month over limit charge and late payment charge and process a phone payment of 655.00 to pay off the remaining balance. Upon receipt of payment I informed XXX that I wished the account to be closed and was told by XXX that the account was now paid in full and closed.

As of early December I received a statement that says I have a remaining balance of 65.16. The statement shows that the previous balance on the account was 718.49. It also shows that there was a payment of 655.00, a late charge credit, an over limit fee adjustment all being applied on 10/31/2008 bringing the total amount applied to the account on 10/31/2008 to 725.00. However, it also shows Bank of America decided that they would reverse the late charge adjustment on 11/21/2008, 3 days before the end of the billing cycle. They also proceeded to charge me interest on the reversed credits after my account was supposed to reconciled and closed.

Shortly after receiving the statement I also received a letter stating that I agreed to a settlement of 560.00 for this account and that it was being reported to the credit bureaus. This is completely false as I agreed to no settlement and paid my balance in full as of 10/31/2008 as noted on my statement.

I then contacted Bank of America on 12/11/2008 and spoke a customer service representative informing them of the mistake that was made with my account. The customer service representative then informed me that the individual that accepted my payment (XXX) went back into my account and reversed the adjustments on 11/21/2008. I informed the customer service representative that this was unacceptable and that I would like to speak to a manager. I was then placed on hold for 54 minutes at which time I decided to call back. I then spoke to a customer service representative named YYY and explained the same situation to her. YYY informed me that I had agreed to a settlement of the account in the amount of 560.00. I once again informed YYY that I did not agree to any settlement and that I had paid my balance in full as of 10/31/2008. YYY proceeded to place me on hold again and transferred me to a Mrs. ZZZ (she would not provide a last name) of the Norfolk division. After Mrs. ZZZ reviewed the account she apologized for the mistake and informed me that she would be sending an email to the loan department to rectify the mistake and that I should call back in 2 days.

I then contacted Bank of America on 12/15/2008 and spoke to customer service representative TTT. TTT informed me that I had a remaining balance of 65.16. I once again explained the same details and was informed by TTT that the reason the overdraft limit fee and late charge was reapplied was due to the fact that when I paid off the account there was a remaining balance of 1.67 as the finance charge. I then informed her that on 10/31/2008 I overpaid the account in the amount of 6.51 and that that amount would be enough to cover this finance charge. TTT then requested a contact number so that she could have an account manager contact me regarding my account.

I am still awaiting that call.

WORD TO THE WISE. NEVER PAY ANY AMOUNT TO CLEAR A BALANCE FOR A CREDIT CARD OVER THE PHONE WHEN ACCOUNT IS IN DEFAULT. REQUEST IN WRITING OF WHAT YOU WISH TO DO. GET IT NOTARIZED AND SEND BACK COPY OF NOTARIZED LETTER ALONG WITH PAYMENT.
     
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Online Banking, Refunds, Deposits, Fees, New ATMs And More
Posted by Do_ I_ hear_class_action_lawsuit on 06/12/2008
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 top 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 in to 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. Never the less those bounces 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 some how 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 with in the legal department. But was suppose to be refunded again $800 + in bounce fees. Only to find out today went I went to pay for supplies that my checkcard 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 did 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 went on day by day to well either. I do recycle other paper by the way,so if 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 suppose 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 cause I plan to see an attorney about this bank.
     
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Posted by madconsumer on 2008-06-12:
i have been with bank of america for many years. i have had zero issues with my deposits. i know the online statement is accurate.
Posted by Anonymous on 2008-06-13:
Look at it this way. When a check deposit posts, the clock starts ticking. The funds from that deposit are usually not available to draw against until the next business day AFTER it posts to the account. And usually only the first $100 of that deposit. The remainder are available to draw against usually the second or third business day after the deposit posts to the account.
So, if you make a check deposit on Friday morning, you are able to use $100 of that deposit for debit transactions initiated on Monday (any transactions initiated on Friday night or Saturday and Sunday against those funds will be charged an NSF since the funds weren't available at the time even though the transaction won't post until the Monday). The remainder will not be available to use for debits until Tuesday or Wednesday.

Look through you account terms and conditions. There should be a section in there that better explains the banks funds availability policies.
Posted by tnchuck100 on 2008-06-13:
You need to drop BofA as soon as possible. They are continuously finding new, innovative ways to take your money. Divorce them now before they bankrupt your business and destroy your relationships with your vendors.

What BofA is doing to you is legal and per their one-sided agreement you said it was OK. Forget a class action lawsuit. You probably have neither the time nor the money to go that route.

Find a local bank. Get to know the people there. Good luck.
Posted by Slimjim on 2008-06-13:
I hope when you see you an attorney you plan on discussing remedy for yourself only and don't consider for a second any suggestions about filing on behalf of some class as your handle suggests. You want restitution I'm assuming, not making a group of law firms rich.
Posted by Do_ I_ hear_class_action_lawsuit on 2008-06-24:
It seems not everyone has read the whole blog. We found an attorney who is taking the case. If the online statement is right then why does even the statement that our branch manager gaves us show that over 6 checks bounced even after BOA charged us overdrafts there shows a positive balance. Never the less those who so quickly responded must had over looked the fact that they held cash that was deposited for 10 days. A check for 14 days. Those are only 2 examples. Even before those deposits, we had a positive balance. Some of you need to re read my complaint. I could understand if we were one who played the "hope it doesn't bounce act" but this is a business account and we do not do business like that neither should those companies who have us as a client.
Posted by Anonymous on 2008-06-24:
I enjoyed this review. So long as a bank can earn more from fees than by lending, they will have a motive to improperly hold deposits to garner them. I wish you luck with the class action. The better fix would be to rally lawmakers to correct and forbid these shennanigans...but the banking industry is generous with campaign contributions...so don't look for relief from the congress-critters.
Posted by dko61 on 2008-06-24:
I also have had issues with Bank of America putting holds on deposits without notice. I am setup for email and phone alerts on my account and have yet to receive the first. I also referred friends signed up for the referral bonus associated with that and never received one. And used the Live Chat and still received none. A hold put on a deposit of mine caused a chain reaction of fees and charges from B of A. All that was required was a simple 'Alert' which I signed up for and didn't receive.

I am going to go back to a Credit Union or locally owned bank not a huge bank. In the 80's when I worked in banking it was Bank of America that bought out the banks I worked for and laid many of us off over and over. Accounts that were opened for employment were immediately closed. I only stayed do to the hassle of changing banks, but now after the last issue of non-information and rude repsonses from Customer Service I will be closing and never refer another sole to their bank.

Horrible experience.
Posted by dko61 on 2008-06-24:
The ATM fees are the highest I have come across not only do you pay a fee from the ATM if not BofA but Bof A charges 3.00.

What is the point it is my money and I have to pay to get access to it. When they charge outrageous interest rates on their Credit Cards...and close Credit Card accounts with customers who pay in full each month.

My parents had a Visa that they used for 20 years, it was bought by BofA they saw that it was an account that was paid in full each month and closed it. Without notice. They had to find out when trying to use the card.

How insulting is that when they have perfect credit.
Posted by joyn49 on 2008-06-25:
There was a write up and also on tv that the banking industry generates 17.5 million or billion a year in overdraft and other fees. The reason the bank has changed their processing and banking strategy is to make up for their low stock. There was something about a memo that was going around Wachovia about NOT refunding overdrafts,because the bank needed to generate revenue. I now have an account with Wachovia and really don't want an account. My employer has Wachovia and we are not allowed to have "hard" checks,sooo I let my direct deposit come in, pay online a couple bills,(cellphone, tv, etc.) Take the rest out in cash and DO NOT use my debit card. I write a check for my mortgage ONLY. The BofA only has to get me 1 time for me to learn. I'm not letting the banks manipulate my money and charge h*ll out of me unscrupulously. BofA double debits your account by deducting the transaction from your balance and then when the transaction posts they debit again and charge a fee. I have my complaint form downloaded from the banking commission. I suggest everyone do the same. Good luck with the class action. count me in. I even started printing the day to day statements online. If you look at it, PRINT IT.
Posted by Anonymous on 2008-06-25:
BoA is the WORST credit card company I have ever dealt with, and I have a sterling credit rating, so the fault wasn't mine. The jerks tried every trick in the book to milk money out of me when I had their card. Run as fast as you can away from them. No offense to those who love them, but this is my experience.
Posted by joyn49 on 2008-06-27:
there is a form letter on capwiz that is for legislation concerning fees, cc and the like, this has to be sent by 7/18 so rally all to fill one in.
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CLASS ACTION FOR TRUST MISMANAGMENT BY BOFA
Posted by Sloshan on 06/22/2007
NEW YORK, NEW YORK -- In 2003, Bank of America cut my elderly mother off from her Trust for reasons I now know were unsubstantiated and untrue. In fact, one of the reasons BofA cited was that she was better off on Medicaid, which would have forced her into a state run nursing home. Over the next 3 years, they refused any attempt to remedy the situation leaving my mother destitute until her death in 2006. At the same time, her Trust was accumulating money and BofA was taking fees. During that time I was helpless because no lawyer would take a case against such a powerful institution without a huge retainer ($30,000-$50,000). After my mother's death, BofA tried to take thousands of dollars in additional fees to close the Trust and walk away. Out of grief and frustration, I began to fight them Pro Se until a law firm came along that was well aware of BofA's bad history and agreed to take the case. This was nothing short of a miracle. We are currently suing Bank of America in a class action suit for failure to fulfill their fiduciary duty and mismanagment. If you believe you have had similar problems with Bank of America for mismanagement of a trust, investments or pensions, you may be able to help our case and get representation for your case. Bank of America relies on bullying tactics to keep these cases out of court. Let's stop Bank of America and its shareholders from making money on pain and suffering. Post a response to this review or e-mail me at redredriding@aol.com. Note: In response to many concerned e-mails: my case is not part of the class action suit. The lawyers filed the class action because they believe there are dozens of other victims with no way to get satisfaction. Hopefully, all the hard work necessary to win my mother's case won't go to waste.
     
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Posted by adzidek on 2007-06-22:
Wow, tackling a major bank - good for you! Please keep us posted!
Posted by SherryH on 2007-06-22:
This bank majorly sucks. I had a credit card through them and it was nothing but a big fat pain in the hiney. I wish you all the luck in the world.
Posted by Slimjim on 2007-06-22:
Why oh why did you file it as a class action?? It sounds like you may have extreme monetary engorgement claims against them on behalf of your mother. Now if anything is won or settled, you'll be splitting the award with thousands of others who basically rode your suit's coat tails. Lawyers are the only winners in class actions. I'm guessing it was his/her idea to file the suit as a class. I know you are having trouble finding a lawyer to do this as an individual civil suit, but I don't see why unless the case is weak.
Posted by tnchuck100 on 2007-06-22:
Please listen to slim. File suit yourself! A class action suit will net you very little. Not top mention it could drag on for years. Even if won it will be appealed. Lawyers use class action lawsuits as long-term investments.
Posted by Anonymous on 2007-06-22:
Slim and TnChuck are 100% correct. Lawyers will make a killing and you will get a voucher worth $10 for something at B of A that you don't want or need.
Posted by Starlord on 2007-06-22:
The only people who win class action suits are the lawyers, and the litigants end up with pennies. I fail to understand where people got the idea that class action suits were the cat's pajamas. They suck big greenn rocks.
Posted by jktshff1 on 2007-06-22:
Yea, find a good lawyer, pull out of the class action.
A good lawyer should work on a retainer, counting on winning.
Posted by BankofAmericaRipsOffAmerica on 2007-06-30:
Bank of America is the most corrupt institution in America in my opinion. They are money hungry hogs and I hope they go down in flames!
Posted by Cruncher628 on 2007-07-12:
You should complain to the Better Business Bureau for starters - over 3,500 complaints have been filed against Bank of America (FIA Card Services)in the past 3 years. The local BBB is at: http://www.wilmington.bbb.org The next step is to get a complaint for from the Office of the Comptroller of the Currency at http://www.otc.treas.gov and fax it to 1-713-336-4301.
Posted by Anonymous on 2007-08-03:
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. Also, send a written complaint to your State Attorney Generals Office, Attn: Consumer Affairs.
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Trust Department-Dallas, Texas
Posted by Sticker on 03/02/2007
DALLAS, TEXAS -- The service at the Trust Department at Dallas, Texas is TERRIBLE.
I cannot get service from this department and can never get a supervisor on the phone and they will not return calls.
I have had a problem in this department for almost two years and they are non-responsive. If an individual conducted business in this manner they would not survive six months.
I now have my business account with them and because of the way I have been treated in this department I am moving my account.
     
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Posted by grandma005 on 2007-03-03:
What is a Trust department? Please enlighten me.
Posted by sloshan on 2007-06-22:
I can totally empathize with you. Bank of America cut my mother off from her Trust and left her destitute for 3 years until her death. Just like your experience, they refused any attempt to resolve the problem until it was too late. It was catastrophic. I am currently suing BofA and would be interested to know more about your case because I believe my mother's problem was just the tip of the iceberg. If you would be willing to talk, email me at redredriding@aol.com.
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Bank of America maintenance fees
Posted by Madconsumer on 07/29/2011
A couple of month past, Bank of America sent out notices about the new structure to maintenance fees. The fees were dependant on minimum balances and or a minimum of $250.00 direct deposits. Today I was balancing my checking accounts, and noticed on one account they assessed a maintenance fee. I decided to visit my local branch to query the maintenance fees. The young man in customer relations named Eric, greeted me politely, ask what my visit was about, and shown me to his office. After verifying my identity via driver license and bank card, proceeded to access my accounts. Eric stated he noticed my direct deposits, and asked me what my concern was. I stated I recalled the recent notice and the minimum direct deposit amount, and why I was assessed the maintenance fee. He stated the minimum deposit was per deposit, not total deposit. On this one account I had changed the amount to total per month not per deposit. This nice young man said he could waive the maintenance fees for one year, refunded me the maintenance fee assessed this month, and asked if I had any other concerns. He said he noticed this account was used for online purchasing, and asked if I took advantage of Bank of America's "Add it Up" program. Giving a puzzled look, I stated no. He gave me the details, and said I could be earning cash back for all my online purchases with participating merchants. I rushed home, and gave it a try for an online purchase. I look forward to earning free money!

I was treated politely, my concerns were listened to, and wished a nice day as I left. Thank you Eric for your polite and friendly service.

Bank of America rocks!!
     
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Posted by Anonymous on 2011-07-29:
Great review! Very informative! One of the few banking institutions that still cares about it's customers.

Thumbs up!
Posted by Anonymous on 2011-07-29:
Wow! Your BOA CSR's have offices? Our banks all have open floor plans.
Posted by Anonymous on 2011-07-29:
I was just curious to how much the maintenance fees would be if your balance feel under the $250.
Posted by madconsumer on 2011-07-29:
AFR the monthly maintenance fee is $12.
but as long as you have direct deposit of $250 per month it is free also. the minimum balance i think is $1200.
Posted by Anonymous on 2011-07-29:
I have recently become an administrator for someone's BOA accounts who receives DD's and was unaware of these new fees. I'd better bone up on the new conditions so I can properly maintain their accounts as I am accountable for them. Timely info, thanks!
Posted by Anonymous on 2011-07-29:
Thank you for clarifying that for me madconsumer. $1200 seems pretty steep. Oh well.
Posted by Alain on 2011-07-30:
Good review, Madconsumer! I use BoA and have also found them to be polite and helpful.
Posted by CrazyRedHead on 2011-07-30:
I have BOA on both checking and savings and neither have a maintenance fee. Direct deposit causes my checking account not to have one and my keep the change stops a maintenance fee from appearing on my savings account.
Posted by Anonymous on 2011-07-30:
Sounds like your branch has great service!
Posted by clutzycook on 2011-07-30:
CRH, I didn't know that. I have the same features on my checking and savings accounts. Glad I signed up for KTC all those years ago.
Posted by madconsumer on 2011-07-30:
i do not pay any fees on my other accounts, it was just this one spare account i use for online purchases.
Posted by Anonymous on 2011-07-30:
I might consider opening up a BOAmerica checking account and check out the direct deposit feature and etc. Thanks for all the helpful comments and review.
Posted by madconsumer on 2011-07-30:
AFR if you can maintain a positive account, and do not bounce checks or overdraw via the check card you will have a great relationship with bank of america!!
Posted by Anonymous on 2011-07-30:
Thanks madconsumer. Mostly I'll probably just use the checks. As far as small purchases like at CVS or something, I'll just use cash.
Posted by Anonymous on 2011-07-30:
I'm also glad that there have more positive reviews like this on BOA on both m3c and PlanetFBack as of late. Top reviews like this will be inspiring to those observing the sites.
Posted by madconsumer on 2011-07-30:
one i have noticed is that since the banking laws changed, and now banks are refusing overdrafts with debit card, complaints overdraft fees have nearly diminished.
Posted by Anonymous on 2011-07-30:
that's a real positive change!! It shows that BOA really does indeed look out for their clients, and not try to milk them of various fees of sort.
Posted by Old Timer on 2011-09-28:
Very good info and review. I read that BofA is having money issues again. Just hope the Gov doesn't bail them out again or they stick it to their customers with fee's to stay solvent.
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