Bank Of America = Crooks!

[nc211]

Banks, always open and friendly if you want to open an account. But, God Help You if you want to close an account!

Back in March, I withdrew the funds from our savings account at BofA, in the form of a cashier's check issued at the local branch. I was told the account was "closed". 4 weeks later, I receive a notice that I've been charged $35 dollars for insuffecient funds in that account, at the tune of $0.36 cents. Reason? The BofA employee who issued me the check, gave me $0.36 of accrued interest before the interest was to be issued to the account. Long story short - after calling BofA corporate - they transfered $0.36 from my checking account and "closed the account".

Fast forward to this past saturday. I get a notice in the mail from BofA, telling me my savings account was $14.64 over drawn, and if I didn't make a deposit into the account within a week, they would refer it to a collection agency. FIRST time I've even thought about that account since I thought I closed it twice in March. Truth of matter, they didn't close it, and started charging me $5 monthly service fees on it. I get on the phone, hot as all heck, to get this cleared up. Two $5 fees were refunded back (June/July), the third (net of the original $0.36 = $4.64) I am told by the branch manager, is not refundable because it is over 90 days old, which locks the ability to refund the money. She also informed me that it was my fault, because I didn't review my monthly statements. Not wanting to spend my Monday in jail, I kept my cool when I told her "why should I pay you for a job that, twice, I've fired you from?" TWICE BofA assured me that account was closed.

Where it stands now: Got the $4.64 refunded back to me, and the account has a $0.00 balance....but....still isn't "closed". Round and round we go... I swear, I've had stalker ex-girlfriends that were easier to get rid of than this stupid savings account!

Where did our original savings go? Back home, to our local credit union in NC, which has never given us a single problem with anything.

Lesson to the wise: If you close an account at your bank, get it in writting that it is actually closed! And triple check it over the next few weeks to make sure it is closed, otherwise, you could find a naughty little ding on your credit report someday, and not even know it. I have perfect, flawless, excellent credit that I have worked very hard for. No way in hell I'm going to let BofA ding it over $0.36!

[SW03ES]

I hate BofA. Your story is actually really amusing to me, let me share a recent story with you.

I am a longtime BofA customer...I have two checking accounts (one business, one personal) a savings account, 3 credit cards and I am a real estate broker who does business with them on the mortgage side. I asked them to notarize five pages for me one time at my branch...they said no because their limit was three. I reminded them I had been a customer for over 10 years, have two checking accounts, a savings account, 3 credit cards and I refer them mortgages through my business. Didn't matter. I went next door to Chevy Chase (local bank now owned by Capital One) where I have NO accounts...they happily notarized all five pages. How about that.

Then another story. I have two checking accounts, one my company pays me into and then I immediately transfer the money out into our joint account from there. So that first account sits empty most of the time...has for years. I don't really have to do it this way, but I like having my checking account insulated from stuff like that.

So I get paid a few months back...and transfer the money out like I always do. I was getting paid on something else a few days later and log on to see if it had cleared the account. The account was gone. I called BofA who swore up and down I closed the account, I asked them why I would close an account and then have a direct deposit go into it afterwards? They said they did not know but they did see the direct deposit sitting there attached to my closed account. I would have to go to a branch. So now I think my account has been stolen or something.

So I walk down to the branch down the street from my office. I walk in, tell the woman at the podium "Someone unauthorized by me closed and emptied my checking account" she didn't even react, no concern, no nothing. She told me I would have to wait. So I sat there while they had little old ladies open up savings accounts with $100. I kept reminding the woman "I'm here for fraud, someone closed and emptied my account, do I really have to wait for all these people, isn't, you know my problem kinda important?". No...I'd have to wait.

So its finally my turn. The woman says "Well sir, you closed this account" "NO, I didn't close the account!" She calls someone presumably who can tell their !Removed! from a hole in the ground. Apparently BofA had a new policy! When a customer empties their account...and it sits empty for 3 days...its automatically closed! She literally asked them "When were the accountholders going to be informed about that change?" and then "When were the branch managers going to be informed of that change?".

She was very apologetic and agreed with me that doing something like that was incredible. I said "I kinda don't know if I can continue to do business with Bank of America..." and she said "I don't blame you. Its a mess here, they let all the staff go, its 2:30 and the branch manager is just gone for the day with no notice. I'd go to Chevy Chase"

So I did. You cant get them to close your accounts...I can't get them to leave mine open!

[LEXIRX330]

NC-

That is not the only trick that theese banks are doing. If you get a letter to verify your insurance...make sure it is taken care of. Many of these banks have started buying insurance brokerages...so they give you 30 days to respond to their request or they force coverage on you...

It is getting out of hand with Banks like PNC, BAC, Wells Fargo, and Willmington Trust. I can gurantee you that we get 5 or more of these types of request a day on auto and even more on home and flood...the dumbest thing is on most of the home and flood are escrowed meaning the dumb a s s mtg company or bank is paying it anyway...just a differnt dept.

Maybe it was a honest mistake but I doubt it...I have been told by a few former bankers that banks are all going into the "fee" business. I am not going to go into much detail on this here but I will also tell you that PNC...had all of our business accounts here and we moved everyone of them because of the fees that they started charging us for holds that they put on checks...even checks of their own customers. Closed the account...2 months later I had two ladies come in from PNC asking why I closed the accounts. I showed her how much we had gotten charged in fees over 6 months. She just looked at me and said that she was sorry...I told her that we had a line of credit with PNC...you could have simply taken the money from that or called and told us what was going on but no...not until you lost the accounts did you care about us at all. The new bank that I am dealing with Hebron savings Bank...they call me when a mutual customer has written a bad check so we can take it out of the deposit so we are not charged fees...Great customer service!

[nc211]

I tell you what fellas, these times are tough on everyone. It is a frustrating time for everyone in general, for those without a few coins in their pocket, and for those with them. You do realize what BofA was doing to me right? They were simply trying to snake back the tiny amount of interest they paid me on the sizable amount of money in the account.

The following will make me sound bad, but for those who know me, know I'm not (all the time).

I kid you not, after returning to Chitcago on the Sunday following the 4th of July, within a 60 minute window, I was hit-up with charity requests. Now, I'm not a heartless dirtbag who doesn't give, I do give, a lot. But, and I'm not stretching the truth here at all - two people came to my door (even though I have a no solicitor sign on the white picket fence), telling me that if I didn't give them a $20 donation, the poor little girl in their flyer would die of some horrible disease. I gave $5 to both seperate solicitors. I realized we didn't have any milk, so I went to the store, a whole 1.5 miles away. Sitting at the stop light that exits my neighborhood, knock knock knock on my window, a story about if I didn't donate, the fire department wouldn't be able to save the innocent children who had fallen victim to fire. $10 bucks. I get to the store....March of Dimes at the entrance telling me if I don't donate, I'll be killing a bunch of cancer kids. $10 bucks. I buy my milk, head back out of the store, and again, March of Dimes. I told the lady I had already given. She said $10 bucks helps, but doesn't heal the pain of the innocent children. I had enough, told her to vote for healthcare reform and walked away. Get in the car, gas light is on, drive across the street, standing there pumping my gas and minding my own business, a lady with a bucket in one hand, and a flyer with a picture of a child in the other, comes walking up. Before I even let her open her mouth, I honestly said "go across the street, they've got your money, I'm tapped out". You know she said to me? "Nice Lexus". Well, that worked...$10 bucks. Heading home, sitting at the same light as before, I see the bucket man heading my way...I hop the curb, go through the bank parking lot and get my broke !Removed! out of there! One hour and one gallon of milk = $45 dollars and a horrible sense of guilt.

We get people knocking on our door all the time. The best though, was some teenager dude who clearly was in it for the money, rang my door bell at 8:30pm, not 10 minutes after we finally got our son to go to sleep (which the door bell woke him up screaming). I ripped that dude a new one! All I heard was "good eveni..." before I laid into him like a ticked off racoon. Doubt he'll be getting is "mission trip" to Cancun springbreak!

[SW03ES]

LOL, I have had exactly the same experience.

Another BofA story! I have a BofA business Visa card. Always pay in full on or before the due date. I come on today to be sure the payment has cleared. There on my account is the payment...cleared...and a $49 late fee. I look over to be sure I hadn't screwed up. No...Due date is 8/3...payment posted 8/2....late fee charged.....8/2!

How can they charge a late fee the day before the bill is due?!?! F these crooks! Now I'll have to call them...

[GDixon]

One more B of A story:

My 25 year old Prima account at B of A was supposed to include a free safe deposit box. Instead, B of A had been slipping the yearly fee out of one of my accounts unnoticed. When it was finally discovered I asked for a refund. No way was the response at every level after several contacts and letters. Even wrote to the government without results.

Their claim was that I had to specially "request" the free safe deposit box even though it was specified in the signed contract. Since I had opened a safe deposit box account but had not specifically request a free one they were justified in charging the fee. The burden was on me to make them follow the contract.

Finally had to file in Small Claims Court. B of A didn't show up in court and the judge was aghast after reading the contract agreement. The judgment was that B of A had to pay back all of the fees and court fees as well. Six months after the error was discovered B of A paid the $600 without the slightest remorse.

[smooth1]

I've just come to hate dealing with the banks now. Since the whole crash thing, they're swirling sharks now! I'm a small business owner. It's crazy on one side they want to sell me payroll and accounting products, while on the other side telling me no credit, sorry, your a risk. Meanwhile I've never missed a payment or been late ever!

[dcfish]

Banks Talk about legal theft A cigar box buried in the back yard doesn't cost a thing......

[sublexusgrl]

Banks Talk about legal theft A cigar box buried in the back yard doesn't cost a thing......

Also a small business owner, we have chosen a "regional" bank. The straw that broke our back was when US Bank closed an account on us and took our 10 year old's 100.00 from savings to cover our account. Our account never should have been closed, but to take money from a child's account!

[lenore]

I too was with Bank of America for over 38 years....When they took the bailout, I bailed out....Closed everything and went with one of my Credit Unions....By the way they are the Bank of no service....They would consistantly post my deposits till the last moment...(That is how they make more money off your money). I noticed my mother in law gets her social security a day later with B of A versus my mother whom gets hers a day earlier with the Credit Union...As Clark Howard says dump the big banks and use a small bank or your favorite Credit Union.

[John White]

BEWARE!! If you have a Bank of America credit card you are at risk of it being canceled without any notice other than your card stops working. Consider being on a trip, maybe overseas and suddenly being unable pay your bills. After literally hours on the phone trying to find someone who doesn't have an attitude or trying to find someone with a little more intelligence than an ameba, I was told that they are "closing accounts without any notice for their own reasons", no explanation other than "for their own reasons" was given. Further, I was told their policy is to deliberately not inform the customer in advance so the customer doesn't run up charges in advance of them closing the account. In short even if you have been a customer in good standing for over twenty years as I have been, having done over $2,000,000.00 worth of business with them over that period, your account is current, and have never failed to make your payments on time, you should no longer depend on your Bank of America credit card working. Do not cancel your account with them as that would adversely affect your credit score. Maybe make one or two small purchases per month or quarter if you wish or simply stop using their card altogether, pay off your balance and use cards issued by other banks. If Bank of America closes your account it will have a negative impact on your credit score but at least you will not be left in a bind. These people are unethical, slimy and will cheat you if they can, not only regarding credit cards but on checking accounts, loans and mortgages. I have ordered that any accounts my companies have with Bank of America to be closed and ordered all employees to never charge any business expenses on their personal Bank of America accounts. You have been warned. Beware!!

[lenore]

All of the big box banks suck...join a credit union and enjoy real customer service.