Bank of America Compliment - It Pays to be Vigilant
Hubby and I have had an Advantage checking account with BOA ever since they bought LaSalle Bank back in 2007 or 2008. Back then, it had a different name, obviously; but we had that account because we have/had a mortgage with them (Mortgage got transferred from ABN/AMRO/LaSalle to Citi in 2007 and we re'fied with Countrywide in 2008, which was then bought out by BOA, funny how things work out, huh?). Anyway, this account requires that you keep an insane amount of money in your checking and or savings accounts, otherwise there's a $25 monthly maintenance fee. I can't remember exactly how much the balance has to be, but it's more than your average working-class American is likely to have. The way to have it waived is to have a sizable balance on an installment loan (like a car) or a mortgage with them. In all those years, even when our mortgage was with Citi and pre-buyout Countrywide, we NEVER had a fee assessed on our account (could be because we owed enough on our cars, but I'm not sure).
Fast forward to today. I was online, paying the bills, when I went to look at the transactions to make sure everything was present and accounted for. That's when I noticed it. A $25 Advantage checking maintenance fee. The first words out of my mouth were "oh, ****, we're going to end up switching banks." But, before I started filling out my application for another bank, I checked on the requirements for the checking accounts. That's when I noticed the waiver for those who have a linked mortgage account. I got on the phone and called customer service. After navigating through the phone tree jungle, I got a live person after a short (less than 5 minutes!) wait. I explained the problem and the findings of my investigation, and she took care of it for me right then and there. My money was refunded right away and she made sure everything was set up correctly to avoid this happening in the future. She also reassured me that that evil $5 debit card fee would not affect me when it took effect in January.
I'm not saying that BOA is all sunshine and kittens, but at least they did right by me today.
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