Bank of America Checking Accounts Consumer Reviews - Page 3

I have been a Bank of America customer for the last five years. I have a house mortgage, 2 business checking accounts, a credit card, 2 checking, and a savings account with Bank of America. At first I thought they were a nice bank and I closed other account consolidated all financing, and started banking with Bank of America. I really liked their online banking and customer service 5 years ago.

About 5 month ago I bought a house and financed with them for the mortgage; they asked me to sign up for auto draft and I agreed thinking everything would be taken care of. It was this month (September) auto draft did not draft for the first 5 days of month. Since September had 4th being the holiday first working business day was the 5th and it did not draft that day. I thought the system missed my mortgage payment and transferred money to mortgage using their online system.

That next morning the system decided to draft another payment for mortgage making my account go negative. I called them and they kept shuffling me through customer service and finally Gentlemen named Terrell picked up the phone from BOA Mortgage and handled this very professionally. I told him what happened and he explained to me the system does not withdraw until the next business date or when the system can. He also said what I knew, "if your withdrawal date falls on holiday or weekend for your auto draft it will be auto drafted next business day."

I told him the withdrawal date I believe was the 2nd and it never withdrew any money until the night of the sixth. I told I never wanted to be late and since it was not withdrawn I made the transfer. He understood, talked to his managers and said I will be credited for my 2nd mortgage payment. In two days I was credited back.

While this was going on a payments from checking and a debit payment processed and I got charged overdraft fee of 19 dollars each. With the mortgage payment being doubled I got three overdraft charges from BOA. I told Terrell what happened and he said checking should be able to give me all credit--all the overdraft fee. This is when the trouble started.

Thanks to Terrell I got my money back in 2 days but I was charged with overdraft fee when I had the money in the bank. I called customer service and they would not even let me talk to mortgage. The Basic customer lady was the rudest person I've ever talked to in my life. She tried to teach me about overdrafts, and when I reasoned with her and she could not respond she just did not say anything. I had a feeling she was putting me on mute and not listening. I know for a fact customer service people do that but when I knew she did not try to listen to me I was frustrated.

When I kept repeating myself she agreed to give me back 2 of the three overdraft payment. I said "I don't understand that when you can credit me for 2 overdraft charge why you can't do it for the third." She pretty much agreed overdraft fee was not in my control. She said "I am going to give you two because you were a customer for last 5 years." I told her "I don't understand being charged overdraft when I had already discussed this and I was assured by BOA it was going to be taken care of."

There was a lot of moments of silence when I reasoned with her. When she could not answer my question there were lots of moments of silence. The final verdict from BOA and the service rep: "THIS is not a BANK error; either you can take the credit for two or I can't do anything for you.” I was disgusted and I hung up.

I am planning to close my savings this week and slowly move all my banking to other institutions. I can't believe BOA which says it had a great customer service would just respond by it is not a bank error whenever it could not reason with customers. I am sorry but I am going stay away from opening more services with them.

Warning: If you want to bank with them do it, but just use their basic services; no bill pay, auto-draft, or overdraft protection. If anything goes wrong it will be their fault but they will not take care of you and respond rudely with the answer IT'S NOT A BANK ERROR. They like to be the Wal-Mart of the banks being rude and abusing customers.

I am asking all readers be aware of BOA and all there services. At the end of the day I was credited 38 dollars from 57 dollars charged and a sour taste in my mouth. It would not have happened if I did not sign up for auto draft service and depended so much on them. I will work to close all accounts and bank with other banks. I will never depend on one institution for all my financial services and you should not also.

Here is an online conversation I had with, presumably, a Bank of America employee.

Please wait while we connect you to the Specialist.
You will be connected with a Specialist shortly.
This chat may be monitored or recorded to ensure quality of service.
The chat session is now in progress.
Terrell: I specialize in helping customers open new personal checking, savings and CD accounts. How may I assist you?
Customer: I'm interested in adding a checking account. I'm concerned about fees. I would be using direct deposit.
Terrell: Thank you for making Bank of America your bank of choice!
Terrell: The MyAccess and CampusEdge Checking accounts are free of maintenance fees with direct deposits.
Terrell: Do you currently attend college or are you planning on attending college shortly in the future?
Customer: No.
Terrell: The CampusEdge Checking is a student account, so we can disregard that account type.
Customer: OK.
Terrell: The MyAccess Checking account is a wonderful account selection!
Terrell: This account has no minimum balance to maintain, unlimited check writing and free Online Banking service with free Bill Pay.
Terrell: Will you be opening the MyAccess Checking account today online?
Customer: Perhaps.
Terrell: The MyAccess Checking account has a minimum opening requirement of $25.
Terrell: There is a $5.95 monthly maintenance fee, which is waived with direct deposit.
Terrell: The maintenance fee will be waived for the first 60 days from the date the account is opened to allow enough time for you to set-up the direct deposit.
Customer: I already have a "regular checking" account.
Terrell: We sincerely value you and your business here at Bank of America!
Customer: Thanks.
Terrell: The Regular Checking account is an outstanding account selection also!
Customer: Can I still open a MyAccess account?
Customer: Will I be able to receive free checks?
Terrell: Yes, you may open the MyAccess Checking account today online
Terrell: I do apologize! The MyAccess Checking account doesn't offer free checks, only the Advantage Checking account offers free checks.
Terrell: Would you like the details for the Advantage Checking account?
Customer: Sure.
Terrell: Let me obtain that information for you now.
Customer: OK
Terrell: The Advantage Checking account offers a second checking account and up to four savings account with no monthly maintenance fees, 50% off standard size safe deposit box rentals and free cashier's check and traveler's cheque services.
Terrell: The Advantage Checking account has a minimum opening requirement of $100.
Terrell: Would you like to open the Advantage Checking account today online?
Customer: Yes, but the minimum balance is $25,000.
Customer: Monthly maintenance fee when balance is not met is $25.
Monthly maintenance fee is waived for the first 3 months.
Terrell: Yes, the minimum balance is waived for the first 3 months on the Advantage Checking account.
Terrell: I do apologize!
Terrell: Yes, the maintenance fee is waived for the first 3 months on the Advantage Checking account.
Terrell: The minimum balance requirement may be combined and linked with your Bank of America checking, savings, Money Market Savings, CD's and IRA's, loans and lines of credit, credit cards, and mortgage and investment accounts with Banc of America Investment Services, Inc. to have the maintenance fee waived.
Customer: Yes. But you still need a total of $25k in all those accounts.
Terrell: Yes, you will need that combined balance amount to have the maintenance fee waived.
Terrell: Is the MyAccess Checking account a better account selection for you?
Terrell: The Advantage Checking account offers free checks, however the maintenance fee being $25 you will may purchase your own checks.
Terrell: Checks will only range from $10 - $15, depending on the check type you select.
Customer: I can get free checks opening an account at another bank, though.
Customer: The ads for Bank of America read: "Free checking with direct deposit."
Terrell: I do apologize for the inconvenience!
Terrell: The MyAccess Checking is a "free checking account with direct deposits".
Terrell: The MyAccess Checking is a wonderful account selection.
Customer: Earlier you said:
Customer: Terrell: I do apologize! The MyAccess Checking account doesn't offer free checks, only the Advantage Checking account offers free checks.
Terrell: Correct, only the Advantage Checking offers free checks.
Terrell: Are you looking for a free checking account or free checks?
Customer: Both.
Terrell: Only the Advantage Checking account offers free checks and to have the account free of maintenance fees you will need a combined balance of $25,000.
Customer: I see.
Terrell: However, the MyAccess Checking account is free of maintenance fees with direct deposits, but this account doesn't offer free checks.
Customer: Right.
Terrell: You may open an account at another financial institution but you will not receive the same service you will receive at Bank of America.
Terrell: We offer free Online Banking with free Bill Pay on our accounts.
Terrell: And did you know that Bank of America has more banking center locations and ATM's than any other banking institution!
Terrell: Will you be opening your new checking account online today?
Customer: I'm not so sure. Bank of America's use of the word "free" is a little suspect.
The chat session was terminated due to technical difficulties. We apologize for the inconvenience.
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HOUSTON, TEXAS -- I was a Earthlink dial-up internet service subscriber for approximately 5 and a half years, from 7/1997 to 2/2003. During this time, Earthlink was authorized by me to withdraw $21.95 per month from my checking account. In February of 2003, I switched from Earthlink dial-up service to Earthlink high speed cable internet service. This new service was billed to my monthly cable bill with Time Warner. After the first month, I was charged $21.95 to my checking account. As I had cancelled the dial-up service, I called Earthlink and explained to them what happened and they promptly credited my checking account the amount of $21.95.

In March of 2003, my checking account was charged $21.95 two times, for a total of $43.90. After repeated phone calls to their billing department and much time on the phone, I was credited the amount of $43.90 to my checking account. This was the end of my dealings with Earthlink dial-up internet service.

On Friday, 1/28/2005 I received a statement in the mail from Earthlink requesting a payment of $21.95. This was nearly two years after cancelling my service with them. My wife called Earthlink the same day and explained to them that we needed to speak to someone in their billing department about this bill we received. She was told that their billing computer was experiencing problems at that time and that she should call them back at an unspecified time in the future. Then, when accessing my Bank of America checking account online, I saw a charge for $43.90.

I called them on Sunday, 1/30/2005 during their normal service hours to resolve this issue. I was also told that their billing computer was experiencing problems and that I should call them back at an unspecified time in the future. On Monday, 1/31/2005 I went to a Bank of America branch on S.H. 242 in The Woodlands, Texas to have this unauthorized charge removed from my account and to prevent further unauthorized charges to my account from Earthlink. This is when I spoke to one of your representatives on the phone regarding this matter. I was told that my account would be credited the amount of $43.90 and that Bank of America would dispute this charge.

Now, on Tuesday, 2/8/2005 I received a letter from Bank of America asking me for proof that I do not owe Earthlink the amount of $43.90, for the merchant's cancellation policies, authorization numbers, who I spoke with, etc. And if I do not provide this information, the charge of $43.90 will be charged back to my account. I believe that the burden of proving that this charge of $43.90 is valid now falls on Earthlink and not me.

I have made every reasonable attempt to resolve this matter with Earthlink and if your bank decides to reinstate this charge of $43.90 to my account, I will be forced to close my accounts at your bank and take my business elsewhere. I have been your customer for several years because I thought my money was safe there, not because you give me .2% interest on my savings account. If you allow Earthlink to take this money from me, I will know that this is no longer true. Thank you in advance for properly handling this matter. If you would like to speak with me directly, I can be reached at...

ASHBURN, VIRGINIA -- My girlfriend and I just moved from Florida to Virginia about three weeks ago. I was added to her Bank of America account. The administrator that set our account up for us advised us that since my girlfriend had the account for more than eight years, we should just combine our funds and everything would be fine. She said that this way, we would be treated as an existing member, which is the way that it should be.

We have had nothing but problems since the second this account was created. I can go deposit checks, whether they are payroll, personal or bank checks and B of A finds a reason EVERY TIME to hold our checks for crazy amounts of time. It doesn't matter what the reason is (because it's ALWAYS a different reason), they figure out some way to hold it. Because of this, our mortgages have been late. I can't find day care for my child because I have no deposit money and we've been unable to purchase necessities for our new apartment.

At this point, they have about $7,000.00 of our money (all of which are either cashier's checks or payroll checks) tied up so they can continue receiving interest on OUR MONEY. This is not THEIR MONEY. This is OUR MONEY. Every time we've called their 1-800 numbers, or bank managers, we've been lied to. Every single person has a different reason as to why our checks are being held. One reason is that because I'm the new one on the account and I deposited her checks, they held it. Is that not the most absurd thing? They have NO CLUE that I deposited her checks... but that was the excuse they used. (I didn't sign a deposit slip!!)

Another reason is because my payroll check was over $1,000.00, so that one is STILL on hold, since 7-9. The last reason was because the cashier's check and my last payroll check in the COMBINED deposit was over $5,000.00. I work for America Online and the payroll checks are written by JP Morgan. There is NO REASON this type of a check should be held for 14 days. Absolutely insane!

They said that they would release the cashier's check on the same day, which REALLY MEANS at midnight that night. I think that is completely shady because when one says "the same business day" you would think you would actually be able to use it THAT BUSINESS DAY. B of A means at midnight that night. This banking experience has got to be the most disappointing experience of my life.

As soon as our deposits clear, we are taking every dime out of this bank and going to another bank. I should not be penalized because I am a new customer. How do they expect to keep customers when customers are having to pay late fees and having to have their credit negatively affected because Bank of America will not release funds that are not duly theirs?

I would hope that someone from Bank of America would have helped us today, since my girlfriend and I were on the phone with them for over three hours. We spoke to two 1800 representatives and two branch managers. Every single one of them did nothing but lie to us. At least if they were going to lie, they should all say the same thing.

NEW JERSEY -- I have been BOA customer for many years. I hold multiple accounts with this bank and I have platinum status.
Recently there was a "business decision" made on the part of the bank where they have decided to hold payroll checks for 2 weeks, from the same place I have been depositing them from for the past 3 years.
If this is now a standard practice with BOA, I plan to shut down all of my accounts and move my business elsewhere.

UNITED STATES -- I've had them to over 17 years and my husband has had them for over 20 years. I can't give you the list of things in the last 5 years all the issues we have been having. I have already talked with them about our latest issue. I do not want a call back from them. We are financial able to switch over to another bank. DO NOT BANK HERE!!!!

DALLAS, TEXAS -- Hello BOA - you managed to screw up an electronic bill payment and now accept zero responsibility... I wonder how fast I can move my accounts to Wells Fargo... from an ex-25 year long customer who wishes he could give a less that 1 rating.

ARIZONA -- I thought this was my imagination until I read another post on this site. It has been confirmed. Bank of America holds transactions. I'll give you an example of what happened to me. I had $100 in a checking account. I used my checkcard for 2 transactions which total $40.00 together. I log on and see that I still have $60 left. So I now go to the ATM and I withdraw $40, leaving me (with what I think is $20). Then the next day, I find out my account is in the negative. A payment came in that night (auto-payment from phone bill of $107). True, I had forgotten about the phone bill, however, in what manner do you think Bank of America handled this?

Well, rather than have everything else clear and then charge the fee on the phone bill auto payment, they charged a fee on everything after the phone payment, including the CASH WITHDRAWAL. How is it possible for a cash withdrawal to bounce? If you apply standard accounting methods, and I have cash in the back and I take out cash from the bank, that cash is mine and should have first been removed from this equation. These people will take advantage of you at each opportunity.

We have switched to a Credit Union and will be closing out our account this month. We will NEVER do business with Bank of America again. They are now the Bank of NO Opportunity. Goodbye and try not to cry about it Bank of America - the public is becoming wiser and eventually you will not be able to take advantage of people.

As a footnote, I also want to mention that this practice has been questioned and a lawsuit brought against Bank of America due to changing the posting order of items. Here is the latest update on that: "...Bank of America recently settled a class-action lawsuit that alleged it (and by extension, Fleet Bank, LaSalle Bank and U.S. Trust Company, which it acquired during that period) changed the posting order of transactions and embarked on other activities in order to increase the revenue it received from non-sufficient funds fees, overdraft fees and similar charges.”

“The lawsuit, which was settled for $35 million, also alleged that the bank failed to warn customers that certain transactions were triggering fees. Even though Bank of America denies any wrongdoing, it is agreeing to pay up to $78 per account holder...." Thank you for reading my post.

I have many accounts at BOA, including several checking, credit cards, line of credit, home mortgage, etc. I have been a customer for many years. My son authorized a debit card transaction of $150 on November 29, 2007. It showed up right away on online banking as pending. Then it disappeared from pending, and I assumed it had cleared. I depend on the online and do not keep a paper ledger of transactions.

On January 7, 2008, I checked my son's account, a college account, before the 10:45 ET cutoff to make sure that he had sufficient funds. He did not, and so I transferred enough money in to cover the pending charges and get him through the week. The next day, I found that the debit from 11/29 had been deducted, which had not shown as pending the previous day. Due to BOA's policy of processing the largest debits first and the smallest last, I had incurred $175 in overdraft fees. My son had a paycheck that he had deposited days before (from a major retailer, not a likely source of bad checks) that was not credited.

Between his check and my transfer, there should have been no overdraft. And even if they did not credit his check, if they had reversed the order in which they process debits, there would have been one overdraft fee. The same thing happened approximately one week before, with the online banking showing the account in good standing at the cutoff time, and five overdraft fees the next day.

I have talked to local BOA representatives and to customer service at their 800 number. They gave me a small "courtesy" refund for a portion of the fees. But if they did business in good faith, there would have been no need and I would have had no complaint. I understand that the largest to smallest processing is legal. I understand that the outrageous fees are legal. Legal does not necessarily equate with right.

The banking industry must have a powerful lobby because they are getting away with robbing their own customers to the tune of billions of dollars a year in overdraft situations that they create through policies intended solely to fatten their already bursting wallets.

I am uncomfortable with entrusting my money to an institution that is avidly intent on getting it away from me in any way they can legally get away with. I will be looking for financial alternatives. And if anyone out there knows of a bank or credit union with more reasonable business practices, I would like to know, since I intend to switch all of my business as soon as I can.

PHOENIX, ARIZONA -- In these days, loyalty to a business means nothing. You are simply a disposable number. As of today, BofA will be disposable to me. I will be looking for a new bank. We have been with the bank for over 15 years. Last night I saw a charge go through my account that should have hit the following night. It was a bill where the rep told me would hit after midnight - well it didn't. But neither here nor there. So, as I noticed my balance was low, I transferred money from my savings acct. to checking, and raced out to the ATM to make a cash deposit. At that point, there was more than enough to cover all charges.

At the ATM, a sign says IMMEDIATE credit for your cash deposit. Both were done just before 10 pm. Today, I see they overdrew 5 charges (one was for $1!) The deposits I made didn't get credited on the date I made them, but on the next day. I spoke with a rep who had no explanation, so I asked for a supervisor. This supervisor, and I use the term loosely, Jeff, out of W. VA, gets on the phone. First, he informs me that the online transfer I made wasn't done in time. Keep in mind I transfer often, and only once was it not done correctly. They agreed and corrected it. This time, he informed me that the cutoff for transfers is 10:45 PM EASTERN time. I'm on mountain time.

That does me no good. He wouldn't budge. Then, he told me the ATM cutoff is 6 pm. I asked him to check his records, as it is later at many ATMs, including the one I use. He double checks. Whoops, I'm right. It's actually 8 pm. UMMMM. The ATM states IMMEDIATE credit for cash deposits. He says, "yes, Immediate meaning the next business day if after close of business." I asked him what Immediate meant to him. If he asks an employee or a child to do something immediately, does he mean the next business day? At that point he gets belligerent. He won't answer my question and starts spewing policy. I asked my question again.

He repeats policy again, like a computer. I asked if I was speaking with a live person, as he is cutting in and out and sounds electronic. He tells me I insulted him. I asked him how and he hung up on me. I have had it with this bank. They don't allow their employees, including managers, to use discretion and their own brains. I am switching to a bank on my time zone. By the way, my ATM deposit? Their records show I made it at 1:05 am. The receipt shows 10:05 pm. My clock, synchronized to radio, read 9:54 PM.