Bank of America Complaint - Bank of America Review
I thought that I was just the kind of customer Bank of America would want to have. I had my checking, savings, credit cards and some mortgages with them. I paid everything on time and I had money in savings.
The first incident happened when I called Bank of America to ask about the interest rate on one of my mortgages. They told me that they did not service my loan even though I had obtained it with Bank of America. I told them that the property had gone down in value and that it was worth less than I owed. (Very often the case where I live.) I said that I wanted to ask about getting the interest rate adjusted since I thought it was high. They said that they could not help me because they did not service the account. They then told me that because I had called in to say I was having trouble with the loan they would need to cut off the lines of credit on my credit cards. Now I had paid these credit cards regularly and paid extra every month. They reduced the credit lines to the amount that I owed which then hurt my credit score.
The second incident was a phone call that I received saying that I might qualify for a discount in the interest on my line of credit. They said that they needed to get some personal information. They asked me all kinds of details about my personal information. I gave it to them although I was worried about doing it. After they had gained all of my information, they told me I did not qualify for any discount in the line of credit.
The third and worst event happened after I decided that I did not want to bank with Bank of America any longer. I took the majority of my funds out of the account and opened an account somewhere else. On October 2, 2009 I discovered that several payments had gone out on my bill pay even though there were not adequate funds in the bank. I immediately wrote to customer service to tell them to close my accounts. I quickly got cash that day and went to Bank of America to pay the overdrawn balance. I talked to a bank officer and told him that I wrote to customer service on October 2, 2009 to tell them to close my account. I also canceled all payees. I asked him to make sure that my account was closed. He said that he could not close it. The next day there were many overdraft charges on my account. I went again to the bank and paid all of the charges. I talked to another officer and asked her to make sure that my account was closed. She said that I could not close it. I also called customer service where I asked them to please stop making payments out of this account. I again paid cash for all of the overdrafts which was about $175.00. Then that same evening I checked my account again and there was another charge for a payment that I had canceled three days before!! Of course there was another overdraft charge.
I still can't get my account closed!! So far they have managed to get 8 overdraft charges on my account. The last bill that they had charged me for was one of my Bank of America charge cards. I had canceled that payment three days earlier. I had also paid that bill from my new account so now they have received two payments on my charge card and made an overdraft fee as well. Whew...what a mess. I never knew it could be so difficult to close a bank account.
I want to warn other customers that if they are planning to close their accounts they need to delete all payees BEFORE they try to close the account. If they have allowed anyone to automatically withdraw funds from their account be sure that they are changed to a new account BEFORE you try to close an account. I assumed that I could close my account and then make the necessary changes. If you don't then Bank of America will get you like they have gotten me.
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