QUEEN CREEK BRANCH, ARIZONA -- I've been with B of A for almost 20 years and along the way they've made a few errors on our accounts, nothing to precipitate a crisis. But when my husband and I separated last fall, we went to B of A. I opened all new accounts in my name only and the bank manager deleted my name from my husband's accounts. We received new debit/check cards and separated our credit card accounts. That was November 2006. My husband and I do online banking, paperless statements, use the bill pay option and have very little "human" contact with B of A.
Almost 4 months went by and I noticed when I signed in and got to the account overview page, my husband's accounts were still showing on my account display. I checked with him and he was experiencing the same. Personal information going across the internet due to the bank's errors and negligence. We solved that without rancor and everything settled down.
Then this past week a $5.95 check charge shows up on my household account. The account into which my social security check is direct deposited. Like clockwork, on the 4th Wednesday of every month of ever year, my social security check is deposited and therefore I do not pay any charges for my account.
So I called them on this $5.95 charge and they said there was no direct deposit that month and the charge will stay. I wrote back giving them the date of the deposit and B of A replied to me that my social security check was deposited one day outside this month's opening and closing dates, so technically there was no direct deposit during what B of A considers a "month" and the charge was valid and would remain.
So I responded and logically explained that when I ran 22 stores in five cities in three states, there were times I would measure the net cost to my company for a small thing like a $5.95 fee, and that I understood perhaps he didn't even have the authority to make a $5.95 decision in his position with B of A and very soon I'd be taking my business elsewhere - 2 accounts with only a few thousand in them, but an inheritance of a quarter million was on its way to be put in a long term CD, but not at B of A anymore.
I just clearly wanted someone to see that "yes, you earned $5.95 for your bank today and made your point", but you lost my business that would have generated far and again that $5.95. And that I would strive in any publication or forum to spread my experience with Bank of America to as many people who would read and listen. I ended by asking him to please not respond to my emails as I would hate to see his department going into overtime mishandling a $5.95 company error. The customer is no longer important to the culture of Bank of America. That is my message.
SACRAMENTO, CALIFORNIA -- I've had business & personal checking accounts with this sad excuse for a financial institution for over 3 years now. During that time, it's been nothing but problems. You will find that if you even try to find a customer service number, it will take you at least 20 minutes from the start of your "adventure" to finally speak with someone (this is a low estimate). When you do speak to an alleged human, you will wish you were again talking to their phone tree because it is actually far more responsive.
When I signed up for these accounts at their Freeport location in Sacramento, the very nice woman signed me up for absolutely free checking for both accounts (because I'm a business customer). I got her to repeat the terms to me more than once so that I'd be in for no surprises: No minimum, no strings, ever. I only had to pay for checks.
After about a year I noticed that they'd been charging me $12.95/mo. on my business account. After the requisite 10 minutes finding an actual number to call, being on hold only to be told I had to call a different number, and the subsequent minimum of 10 minutes hold time, I was told that my "agreement" said that I had to keep at least $4000 in my account. I disagreed & told them the terms that I had actually signed up for. As usual, it fell on deaf ears and more than a year later it's never been straightened out. It cost me approximately $100 in fees & since then I've just kept $4000 in the account even though it's not what I agreed to when I opened it.
This is not usually a problem, but it's really annoying that on an INTEREST FREE account that usually has at least $10K in it, they will charge me if my account goes to $3999 for one day. Recently I looked at my personal checking account online only to find that they'd been charging me $5.95/mo service charge for the last 7 months. I've used this account TWICE since I opened it. In fact, I was talked into this account by the Freeport person who assured me there were no strings, so why not?
After spending 20 minutes trying to get through, I was disconnected by their "customer service" rep who apparently didn't want to deal with "customer service" that day although she's being paid to do so. I spent another 15 minutes getting through, only to get a robot on the other end. She insisted that I had to have a direct deposit on the account in order to qualify for free checking. Even though I told her again & again that I didn't sign up for this, and further, why would such charges have only begun 2.5 years after opening the account? Also, why would a small business owner ever sign up for such a thing when one does not have a paycheck to direct deposit?
The Robot just kept repeating the same things. These people could give John Cleese a run for his money in the skit "Argument Clinic". Finally, she mentioned that I could cancel the account by going to a zero balance online & calling them back to cancel. I said "hold on I'll do it as we speak." She then had to transfer me to a "supervisor" who wanted to rehash the whole thing again with me. This one was a Triple Robot with an IQ of perhaps 80 or so.
By the time these folks were through with me I went from a calm, happy person who had been preparing for my enjoyable work day to a shaking, angry person who wants to move to a country where corporations aren't given more power than the people. I started this mess at 7 a.m. this morning before my work day began. It took me 1.25 hours to get nowhere with B of A. Additionally, I'm so angry that I'm planning on contacting my attorney later on today. Some of us are SICK & TIRED of these huge corporations (and the winged monkeys that work for them) just having their way with us.
Despite the fact that my accounts have had an average of $10-$15K in them (INTEREST FREE) all these years, these Bank of America checking accounts have cost me over $135 in bogus "service charges" that are in violation of what I signed up for when I opened them.
The 2 main points that I'm trying to make about B of A is this: 1) beware if you sign up for a "free" no minimum account. They will change your status whenever they feel like it w/o contacting you. Soon you too will be spending inordinate amounts of time trying to deal with their Winged Monkeys to no avail. Save yourself the hassle & take your business elsewhere; 2) they have some of the most moronic "customer service" reps I've ever had the displeasure of dealing with. Either B of A specifically chooses them for their low IQ/highly belligerent combination, or these people are so badly treated by their employer that they just act that way.
I recently opened a BofA checking account, even though I work in the Banking and Cedit Card Industry and had heard many horror stories. But I needed a new checking account. Also I was enticed by the $25.00 sign up reward.
Every thing was fine until the fourth month of the account... I do not like to carry cash and the Debit Card was an ideal means for me. I also followed my account online. The balances between my checkbook and the on line account were very accurate. That is until the 1st week of September of 2007. Labor Day Weekend had resulted in multiples uses of the credit card, of which I always keep receipts. My last transaction had shown an availability of $270.00 after an $80.00 withdrawal.
The next morning I checked my account... I was amazed to see a negative $132.00. Apparently the airline ticket I purchased on Monday and appeared on Tuesday had reappeared on Friday with no other listing for the Tuesday appearance. It was not the airline's fault of a double bill. They got the first call. Needless to say at $35.00 for 7 overdraft items... (four of which were $2.00 ATM Fees) I was a little shocked, because by the time I had checked the account later in the day I was now around $300.00 short.
It appeared as if something was triggered when my Account approached $40.00 remaining. On that day 9/6/07,10 charges showed up that had been done three days earlier... All by debit (which is immediate withdrawal) per management.
Well that was bad enough but I thought that B of A would like to handle a new customer correctly and hear them out and come to a solution where both parties are satisfied. But I was given the chance to enter my complaint in a computer and if the computer said no refund, then it is no refund. Guess what? No refund... I then asked to speak to the manager and was told the same thing. Once the machine makes the judgment there is nothing we can do to stop the transaction. I asked if he could override, I would even accept some of the charges... But he said no, once the computer makes the decision we are bound by it.
I then asked if he would like to earn my business and he said his hands are tied. I no longer bank at BofA and this may cause me to be listed in Chexsytems, but I will take the chance and get another account quickly, than to be treated like a fool and not even have the courtesy of the Branch Manager offering to make some type of amends. I spent too many years in the Customer Service and restaurant Business to let a customer leave angrily... But Buyer Beware. I never got my $25.00 sign up fee but they would have only been late 30 days in giving it to me. No Charge from me for that disservice... Except losing my business as the result of your disservice.
While I don't own a large corporation, I do own a small company, and unfortunately I too made the mistake of doing business with Bank of America. Like many of us, I had an account with B of A (hereinafter I will refer to them as BS of A) when I was young. I must be slipping in my old age, because after about 25 years, I had forgotten just how ridiculously bad BS of A was (and still is), and I opened a new account with them.
I have retired from the Fire Dept., and part of my small business is in Asia. I opened my BS of A accounts to have my retirement checks deposited and to allow me to wire money over to Asia and back when needed. At the time it seemed like a good idea because BS of A had branches located close to a couple of houses I own in California.
Anyway, the latest SNAFU (and the last, because I am DONE with BS of A for good) involves a $60,000 check deposit. I needed to send this $60,000 over to Asia. I don't keep the majority of my money in BS of A because it doesn't pay decent interest, and the bank I do business with that does doesn't do int'l transfers or electronic ones.
Anyway, this check cleared the issuing bank in about 3 days, but when I called from Asia to get the funds released, I was told there was a 15 day 'out of state' hold. When I advised them that this check had already cleared, they told me that this hold was 'automatic' and that they couldn't release the funds until the 15 days had elapsed. I asked them to check their 'computer', so they could see for themselves that the check was cleared. They then told me their 'system' won't show them when the check has cleared.
I do remember from 25 years ago, the minute they can create a situation where they can NSF (bounce) a check they will happily do so, and the fees start piling up like crazy. So their 'system' is really good at knowing (and actually creating) situations when you are supposedly overdrawn, but it mysteriously has no capability to actually know when a deposit you have made has cleared. The BS of A customer service rep advised that this was all 'according to the law', which I found even more irritating. In the end, BS of A camped on my 60 grand for 15 days. During this time, they loan this 'funny money' to some poor schmuck for an outrageous interest charge.
My advice to anyone who is even thinking about doing business with BS of A is simple. DON'T, DON'T, DON'T. It will cost you countless dollars in ridiculous fees, not to mention unending headache and frustration, and perhaps worse, the feeling that your bank is really a semi-legal criminal racket designed not to serve you, but to systematically steal your money slowly but surely. STAY AWAY FROM BS of A.
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?
Terrell: The CampusEdge Checking is a student account, so we can disregard that account type.
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?
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!
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?
Terrell: Let me obtain that information for you now.
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?
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.
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.
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.