Bank of America Complaint - Dishonest, nonsensical business
Bank of America is a corrupt organization:
After a few years of being a Bank of America customer, I have had no choice but to close my account. They couple poor customer service with semi-illegal business practices to create a very unscrupulous banking institution.
Routinely, they hold my pay checks for several days without reason in attempt to overdraft my checking account to force me to pay high fees. I live pay check to pay check like many Americans, and I cannot afford to wait for four or five business days for my funds to become available to me.
I have called customer service and customer relations usually twice a month in an attempt to figure out why the bank chooses to hold my funds. I get different answers each time.
Essentially, I deposit my pay checks at the same time every month. And consistently each month, Bank of America holds the funds for nearly five days without reason. Again, as someone who depends on my paycheck to live, this is unacceptable. The paycheck clears the account from which paycheck is cashed the same business day I deposit the check. The cash is not deposited to my checking account - again- for nearly five days after that.
Other co-workers of mine have not had these problems with their paychecks at other, more reputable banking institutions, so apparently the issue does not lie in the source of the funds (i.e. my employer’s bank). The issue lies with Bank of America.
I hope that all who read this complaint with either think twice about conducting business with Bank of America or choose to open an account with another financial institution.
As hardworking, tax paying American citizens, we deserve better than this: if it wasn’t for us, Bank of America would not have business and thus would cease to exist. It’s about time they treat us with more respect and courtesy- even if we are paycheck-to-paycheck wage earners.
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