New Reviewer

Bank of America - a terrible experience

I was a customer of B of a for 10 years. I had a checking, savings, auto loan, and credit card with them. For no reason, they raised my apr from 18 to 27! I had never made a late payment or gone over my limit. The told me that it was at their discretion to change the interest rate whenever they wanted. They refused to help me regardless of my history as a customer with them. Needless to say, I closed all of my accounts with them and will NEVER go back. I highly recommend that any existing b of a customers do the same. If you are not a customer and are considering b of a - DON'T DO IT!!!
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3 comments
#302109

I live in Chicago. They have people who are useless and ***.

I plan to leave ASAP...First we bail them out and then they act like fools.

They would not give me a lousy $10.00 bucks cause my driver's license was expired ten days ago...I had all the other ID and answered every question.

Who needs a bank like that...An ATM machine has more brains than they do! Tomorrow I will tell you the manager's name....The stockl well it is cheap....A bank run by children and drop outs...I am a former Naval Officer and a punk from the Middle East says NO....gee is there anything else they want.

willymette@***.com :(

#23453

have you ever been late on any loans or lines that you have with other banks? some banks are using THAT as a reason to raise your rates with them (no matter your history with that bank). the bank i work for doesnt do this but it IS a very common practice

#17981

I just recently attended a meeting with Summer Bay Resorts. They would like for the New Horizen customers to purchase their vaction packages.

After reading all of these complaints, I am not sure if that is a good ideas. Please advise.

pmh-stl

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ID
#122429 Review #122429 is a subjective opinion of poster.
Location
Portland, Oregon
Product
Bank Of America Credit Card
New Reviewer

Bank of america dumps good customers

I have had a us airways Bank of America credit card for almost 5 years and through tough times always kept it up. A friend told me that I should make as big a payment as I could and use my credit card for my expenses because that would save me a lot of interest. This month I made a payment of 4 times the minimum 3 weeks ago and 6 times the minimum last week. I expected to be able to take care of my daily expenses (gas-food ect.) but my card was canceled today. I have been a good customer, in fact the customer service said I had a fantastic payment history but Bank of America cares nothing about the position they have put me in. BEING A GOOD CUSTOMER AND PAYING IN A TIMLEY MANOR FOR 5 YEARS MEANS NOTHING TO THIS COMPANY!!!!!
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ID
#122343 Review #122343 is a subjective opinion of poster.
Location
North Myrtle Beach, South Carolina
Product
Bank Of America Credit Card
Loss
$5000
New Reviewer

Bank of America permits Fraud account deductions

If you have any accounts with Bank of America (BankAmerica or BoA) get your money out NOW and put it in another bank or credit union. With all the mergers, etc. they are losing money faster than they can steal it from your account. Here's the story: BoA has no internal security or cross check of your account. You write a check to someone and that provides your complete account number. Anyone can then have their credit cards or utility bill paid out of your account by requesting AutoPay every month against your number. It's up to YOU to find it and fix it!! I've been chasing them for 5 months with no cooperation, so it will have to go to court and on CNN In addition, BoA is apparently screwing up corporate accounts even worse. Bank employees are told to say either this is untrue or they are "working on it" My info came from personal lose and information from a former BoA internal security employee.
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3 comments
#13310

World of Warcraft Gold, silkroad gold, silkroad accounts,

#13262

Little do you know about how banking works. So, I would recommend you better not preach what you don't know about.

If someone would use somebody else's details to pay his credit card/utility bill it would be a federal crime. Feds will be knocking on your door sooner if not later.

#13129

I have to dissagree even if true. Consumers will notice and as if fraudsters will pay thier utillities and CC bills giving thier identity away.

I'm sure big banks in this country have adequate security.

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ID
#121511 Review #121511 is a subjective opinion of poster.
Location
Augusta, Georgia
Loss
$25

They lied about the interest rate we would get Bank Of America

I apply for a loan with BOA and they lied about the interest rate they resured me it was going to be 8.99, and it was 15.99 They lied I kept asking if the interest was ever going to change and she said no that it would stay at this 8.99 and when I got statement the interest was 15.99 not the 8.99 as promise, my Husband called The Superviser would not let my husband get a word in and he had to asked her to stop talking so he could tell what the other lade had said.
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1 comment
#23456

is it fixed? if not...

go up the chain... people mess up all the time (they are human) or there may have been a misunderstanding. But if they arent fixing their mistake or if you are not satisfied talk to the manager, regional manager, regional president until you get a responce you are happy with.

trust me... they dont want you to get to corp!

ID
#121399 Review #121399 is a subjective opinion of poster.
Location
Los Angeles, California
Service
Bank Of America Loan

Rebate of a Late Charge, Not Really a Rebate

My bank had an error and didn't send a payment to my B of A credit card. The bank owned up and sent a letter telling them to remove the late charge and reinstate a promo rate. B of A over the phone, removed the late charge and gave me back the promo rate. What kills me, is that apparently that takes a month to take effect. I am being charged interest on the total of my account for 1 month even though I started and ended at zero percent and none of this had anything to do with me. I'm also being charged interest on the late fee itself!!! Nickel and dimed to death, rules need to change!!!
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2 comments
#37062

Same thing just happened to me on my business card. I had it for 5 years at 7.9 and over night it went to 25.9.

I have never been late and pay more than the minimum.

I owe about 18,000. and it is going to sting if I can't transfer it somewhere else.

#11508

I cannot believe the government hasn't put some rules in place to stop that kind of thing. Imagine how much money they make for every person out there with a credit card...

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ID
#120370 Review #120370 is a subjective opinion of poster.
Location
Aspen, Colorado
Product
Bank Of America Account
New Reviewer

Bank of America charges to cash their own check

Bank of America charges to cash their own checks to non-customers thus forcing you to give them your own money. Shame on you Bank of America. The regulating body of financial institutions says this is legal. Shame on them too. Why not change the law? It's only common sense. I guess in a free country like "America (Bank of)" you are forced to open a bank account (not that I don't have a few) in order to keep your own money. I hate Bank of America and I stopped doing business with them years ago. I like Washington Mutual much better and no fees.
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26 comments
#1417644

It is now $8 to cash a check if you don't have an account even if the check is written from BofA. This is a rip off that just happened to my son.

I do business with BofA but do not agree with this policy. As soon as I can, I want to move elsewhere.

Customer service sucks and lines are always long. So disappointed!

#563833

Did somebody just saying cashing a check is a privilege? If you issue a check, which is a guarantee of money, you have an obligation to satisfy that obligation, not a privilege to do it.

You client owes me money.

You gave him a right to issue checks in your name to satisfy that debt. It should be criminal you can refuse to do so without a bribe of $6.

#563832

Did somebody just saying cashing a check is a privilege? If you issue a check, which is a guarantee of money, you have an obligation to satisfy that obligation, not a privilege to do it.

You client owes me money.

You gave him a right to issue checks in your name to satisfy that debt. It should be criminal you can refuse to do so without a bribe of $6.

#437783

absolutely disgusted with Bank of America, may they go out of business...

#370253

I have a B of A account. I can't even write my Husband a check instead of going to the bank and getting him cash without they wanting the $6 fee.

He refuses to cash a check from my bank as "extortion" trying to get him to have an account there. I don't want to put him on my account and I hate the inconvience of going to the bank to get cash out for him to save $6. I think I'm going to move my account to a Credit Union. I pay a $14/mo.

fee to have a checking accout. They get to use my money until I spend it.

The charge 29.99% on my VISA. They get plenty from me without charging the check cashing fee.

#181277

When banks cash their own check, they are completing a transaction FOR their customer. It is NOT a service to the person trying to cash the check.

The bank's customer does not have to get in their car, drive to their bank, get money out, drive to the person they wish to pay, etc. They don't have to do all that because they have a bank for that.

It should be illegal for a bank to charge a non-customer a fee to honor their own bank's check!!!!!!! Bill they bank's customer, they can complain and switch to a better bank!!!

#148819

No one denies it is legal. And BoA clearly discloses this information to their customers when they open accounts.

No one forces a person to cash a check at BoA. The service is for the check casher and not the original customer. If you don't want to pay the fee, but decide to go to BoA anyway then make the maker of the check pay you that much more money. It's between you and them.

You are a customer of the maker of the check, but not the bank the customer uses.

They are within their rights to recoup costs related to the transaction (staff, money, computers, etc). They charge the customer for costs related to their transactions (keeping track of their money, internet sites and maintenance, mail delivery of documents, etc).

#147851

A little late into this thread, but Chase fingerprinted me today to cash a $12 check from a friend for a cell phone. He's an old man who gets confused easily, so I've been ordering net10 deals online, and we split them.

Chase gave me the line-of-hooey about "to protect the bank." I started spouting off laws and wanted to know why they wanted me to fingerprint and what would become of the print; of course, I did not get an answer.

Someone wrote about all the people clogging up the teller lines. Look, in the old-golden days of banking, there was no online or debit card withdrawal banking. So banks do less work all the time, and charge more for it.

Both BOFA and Chase are big-time criminals.

I'm not thru with them yet. Wrote a letter about ADA law, what if I'm allergic to the ink, blah blah blah, and I'm coming in to examine the Community Reinvestment Act.

What they really wanted was for me to open a small account. No way, Chase honey! I'm sticking to my credit unions.

#871201
@PissedConsumer147851

Then why didn't you cash it at your credit union. The bank does not owe non customers free services.

#147842

I got fingerprinted in Chase today in Dallas, TX, over $12 a friend wrote me for a cell phone. He's an old man who confuses easily, and I've been getting Net10 deals and splitting them with him.

Next time he'll give me cash for his half.I mentioned laws in Chase and they looked at me like I was the criminal.

I'm going back in a few days to look at their Community Reinvestment Act. I'm not through with them yet.As this cr@***a about too many clogging up the teller lines, there are a lot of people like me who bank online and get cash back on a debit card instead of going in a bank.I use credit unions mostly because of what banks don't do for the private individual.

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ID
#119028 Review #119028 is a subjective opinion of poster.
Location
Los Angeles, California
Product
Bank Of America Account
Loss
$5
New Reviewer

Discrimination

I feel I have been discriminated against by Bank Of America...on 4/23/08 I walked into the branch in Chino around 4:11 pm for a merchant's deposit. I was asked to wait for the teller, so I did. I wasn't feeling good at all, but I continued to wait. The supervisor noticed many times how bad I was feeling..then another guest walked in, immediately, the supervisor, Perla, took her in and she had the same deposit as I did. The other lady who asked me to wait for the teller, told Pera that I was next in the line and I should be helped first. Still Perla tried to take in the other guest, but the other lady insisted I go and she apologized and sent me in. When I commented to Perla that it wasn't right that if it is her friend or relative that doesn't give the guest the priority over me because I was there first and have been waiting also...she nodded her head and said that she doesn't know her, and left...what does that mean then, that she being a supervisor is discriminating against me?? What kind of role model is she for the rest of the employees? I was very hurt by that.
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6 comments
#337756

Thank you guys...

@ Customer Service Guy: Get a life dude! If you are not interested, you don't need to be here and read it in the first place, peace!

#336911

next time i get an affirmative action employ from a bank will hang up! I could never understand her on the phone, would ask her how my lone was going and all i heard was it was with the under writer , then she would ask me for a P&L statement on a lot that i just paid taxes on for the past 20 years or a copy of some random check, etc. it has been 5 months now with 3 extensions one was for her to go on vacation with out tell me , on a home which the same bank owns , credit score around 800 and income $17,000 per month house payment $1100 per month, i think this is discrimination is this how BoA tell its affirmative action employs to treat the whit man and before this experience I was color blind and my kid will be done with law school next year lol

#83274

Evert customer deserves equal treatment - it's any banks policy. Report your issue to the Office of the President for Bank of America. This bank has a policy for doing the right thing.

Customer Service Guy: you are by far out of line.

#44819

Customer service Guy, ILMAO

#22614

some banks ask managers and customer service reps to service clients with LARGE relationships with the bank themselves instead of having them wait in the teller line... this may have been the case in this instance

#9880

sounds like you have a low self esteem. Not discrimination in my book.

So what if the manager took the other person over you. Get over it. Sounds like a problem you've had all your life.

If it bothers you that much just go kill yourself. No one needs to hear your pathetic pity party.

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ID
#118952 Review #118952 is a subjective opinion of poster.
Location
Los Angeles, California

Starting with a small amt to a big amt

I hate the fact that they would hold the pending transaction for 2 days it messes up my balance. I also hate the fact that they would clear big amounts first before the small amounts. Imagine If you have 6 pending transaction and another check is coming into clear and...
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6 comments
#23463

the only things i have against using debit instead of credit is A) some merchants charge for PIN based transactions B) you dont get visa/ mastercard coverage C) less secure if you use your pin alot it is easier for it to be compromised

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ID
#118886 Review #118886 is a subjective opinion of poster.
Location
San Francisco, California
Service
Bank Of America Manager

BE WARE BOE Drains your money

If you have account with this bank and not set your accout for "Not to allow any negative balances" on your account Please ask them to do so. Even if you have balance in Saving and not in checking and if you use Debit card every tranaction even for penny may cost you $ 20 to $35. Bank sucked 115 $ from my account and with gr8 favour gave $35 for 4 transactions in 3-4 day when I was having balance in saving for initial 3 transactions. Customer support show small letter booklet now and say you need to read this and show simpathy for what bank is doing for us. I am told they have atleast 1 customer everu day who come with this issue. Is there any way to get this money back? Can we go to consumer forum?
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2 comments
#11712

This is why bank's give you free check registers. It's your account, and your money.

If you can't keep track of it even with all the help you're already given that's your own fault.

Banks can't hold your hand and manage your money for you. If you overspend and the bank pays for it, suck it up and learn to add.

#11084

to answer your question....No, you're a just another customer that can not manage their money. Close your account and buy a piggy bank.

you can't set your account to not have any negative balances. if you don't have enough money to cover a transaction when your account goes through processing, you're gonna be charged a fee.

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ID
#117745 Review #117745 is a subjective opinion of poster.
Location
Silver Spring, Maryland
Product
Bank Of America Account
Loss
$115

Gave wrong information

THEY DONT KNOW HOW TO CHANGE CUTT OFF SATEMENT DATE, TOMROWW IS LAST DATE TO SUBMIT MY STATEMENT , AND MANAGER ON PHONE DIANA CASTIOO , SHE SAID I APOLOGIES ITS OUR FAULT (NICOLE COICO), APOLOGIES IS NOT SOLUTION , AND IF I SAID SAME THING TO THE COMPANY WHERE I AM GOING TO SUBMIT MY SATEMENT , THEY GONNA KICK ME OUT,INSTEAD OF THAT SHE SAID I CANT DO ANYTHING , IS SHE IS MANAGER????, REALLY BAD EXPERIENCE WITH THIS BANK , I WILL SUGGEST TO MY EMPLOYEE GO KEEP CAH IN YOUR HOME INSTED OF GOING TO BANK OF AMERICA THATS ENOUGH Y B
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1 comment
#13393

huh?

ID
#117729 Review #117729 is a subjective opinion of poster.
Location
Fairfax, Virginia
Service
Bank Of America Manager
New Reviewer

Electronic payment held by BOA and lies from customer service

On the 3rd of the month i sent a western union quick collect payment more than my minimum due to bank of america for a bill due on the 8th. Never had a problem with this before and have never been late. 3 days later they said they hadn't received payment. 4 days later, when I called back they said the payment was "pending". And said the next day it would be posted. 5th day came (due date) and said that by 12:03 am next day it would be posted. That will make me late, proof but no help for me
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2 comments
#599527

Totally agree even several years later. I had to make my payment for my house through WU as BOFA shut down my online access.

SO I took more then my mortgage to the WU location - made the payment called the next day to be sure they had it. I was told yes they did, talk to you next month. The next month we got foreclosure docs saying we never made the payment. They said they got it but it went to some legal fund vs my mortgage.

Why??

No real answer - after curing our account they sent us a check for the missing $2100 that we had paid saying we over paid. WTF~~ :x

#11713

Sounds like you should be complaining to Western Union. The bank can't control how long or when other companies are going to send them money. Is there a reason why you can't pay online, in a banking center, at the ATM, or over the phone?

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ID
#117559 Review #117559 is a subjective opinion of poster.
Location
Tahlequah, Oklahoma
Product
Bank Of America Credit Card
New Reviewer

ROBBERS of America (BOA)

Before I write this I will admitted that I am no good with budgeting my money! Okay now we have that out the way On March 28, 2008 I went to Bank of America Hyde Park location to close my Keep the Change savings account. The person who helped me is Robert P. Before closing the account I asked him what would happen to my paycheck I was expecting a direct deposit on 04/01/08. He said “the check will be sent back to your employer, that could take up to two weeks and to have my employer cut me a pay check”. He gave me receipt of the account being closed. On April, 1 2008 my employer cut me a paycheck because we where bother under the impression that my check would come back to the job. Well on 04/04/08 I went to BOA online to check my balance and behold my savings account was still open, active, and two charges hit my account. When I called BOA customer service the rep advised me that if my account was recently closed that my direct deposit could and did reopen my account and it would remain open until I reclosed it and apologized for me being misinformed. When I asked what I should do because my employer had already cut me a paycheck per the BOA Hyde Park rep she advised me to do a Direct Deposit Reversal. After our phone conversation I went to the branch to show the rep that close my account what had happened. And according to the other reps at this branch the guy who assisted me was the branch president. When I told him what had happened he said he didn’t know this could happen and there was nothing he could do. He could reclose the account and cut me a check for whatever was left of my paycheck. My only argument was if I had know that my account would reopen I would have left this account open and pulled my money out after my direct deposit hit. Instead of having to make two trips to this branch. Being out $155. Having to explain to my employer that he paid me twice and part of the money was gone due to other posting in the account and that I had no way to repay him the remainder money because I paid my bills and rent with my paycheck. Sorry I don’t have money saved in my keep the change savings accounts its seems like I did everything but saved with this account. Question why would you give someone four check books for a savings account?
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ID
#117434 Review #117434 is a subjective opinion of poster.
Location
Saint Petersburg, Florida
New Reviewer

Bank of America

These people have the WORST customer service ever! I was charged a $35 overdraft fee when my account went $0.06 overdrawn- even though I have overdraft protection- and when I called the 800# I was very rudely told"because of my account history I was inelegible for the overdraft protection". What the heck is that supposed to mean? I have banked with these people for 9 years an only been overdrawn twice! Where is the $250 I paid for the overdraft protection service in the first place? Try asking them cause all I keep getting is a run around! I will never recomend them to anyone again!
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4 comments
#162522

Why do Bank Of America place a 2 week hold on your account if your account is overdrawn for 21 days or more.First of all

boa charge you overdraft fees and extended

overdraft fees.The customer is paying the fees for their overdrawn account, why the

2 week hold on a check when it is deposited.The teller say it is because the check has to clear.I have deposited the same check for over a year it usually post the next day.I feel this rule should change because BOA is putting the customer further in debt.

#11715

customer service guy is completely 100% right. JCM makes me wonder though, if you were getting a monthly fee for an acct that was supposed to be free why did it take you 11 years to figure it out? Sounds like you weren't meeting basic requirements to keep whichever particular checking acct you had free, which isn't the bank's fault...you shouldn't have just sat there for 11 years and let it accumulate.

#9877

everyone is eligible for overdraft protection. All you need is a checking account and either a savings account (opened in the same state as the checking), credit card thru BofA, or a line of credit.

If you have one of those three options, then your accounts can be linked for overdraft protection.

Also, it doesn't cost $250 to have the serivce either. Just a $10 overdraft protection transfer fee each time its used.

#7160

I left BOA after 11 years and went to Wachovia. Haven't had a problem yet.

BOA kept charging me a $20 monthly checking account free when iwas supposed to have free checking!

$2640 in checking fees when I signed up for FREE CHECKING or so I was told. After several attempts to get this corrected I figured the best way to do this was just change banks.

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ID
#117126 Review #117126 is a subjective opinion of poster.
Location
Killeen, Texas
Product
Bank Of America Checking Account
Loss
$285
New Reviewer

Bank of America New NSF Charge

Every bank of America customer should move their account(s) to credit unions. Effective 3/1/08, B of A will charge a fee for items that were authorize for payments while there's not enough funds in your account. It does not matter if a deposit has been made to cover those items in time for the pending items to clear. I was told by the manager of a branch that B of A is the last of the big banks to adopt this. They claimed that notices were sent out with the statements. When I told them, I don't get paper statements, I was told, I should have checked my statements on the web site.
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12 comments
#352410

To the BOA CSR's who are posting here saying that people need to learn how to add and substract and don't spend what you don't have. Well, you are just the Devil's Advocate.

I had 3 accounts with BOA and all 3 were LINKED together to pull from if one got low. I even signed the form to establish this when I opened up the 2nd and 3rd account. I had the document in hand with all the other account documents. But when my primary checking got low and BOA assessed 4 different 35 NSF charges without pulling from the 2nd account like they were supposed to.

I spent hours on the phone, near heart attacks arguing with the bunch of devil's advocates only to get no where and hang up with my blood pressure over the moon. Each Rep said the same thing, THEY HAD NO COPY OF MY AUTHORIZATION on file and knowing I had opened these accounts in another state, they each told me I had to go back to the ORIGINAL LOCATION where I opened the accounts and present this document. B.S. I finally went to the Branch, They had the document, it had been submitted and they proved to me that it was set up from the beginning.

BOA had to reimburse me 12 NSF charges. But because the reps are taught to lie, manipulate, bully and make it impossible for the customer, I had to go over the river styx to prove what they already knew and was in the computer. So my advise to you REP"S posting here, defending BOA and further insulting people, go get a job where you don't have to work with people. One day, everything you have done to people will come back to you, every dime you took from them and every heartache you costs them I hope comes back on you times three.

DON'T FORGET, THE PROOF IS IN THE PUDDING, BOA HAS HAD A CLASS ACTION LAW SUIT FOR THIS VERY THING. NOT BECAUSE PEOPLE CAN'T ADD AND SUBTRACT BUT BECAUSE THEY WERE DOING BUSINESS WITH THE DEVIL.

#352406

Bank of America is unbelievable. They have already had a class action law suit regarding the NSF assessments to people's accounts because they would post by amount (Hightest to Lowest) rather than the date of transaction which caused everyone to rack up NSF on their accounts.

It apparently didn't teach them anything because they are still at it. They don't care. Those babbling, word *** idiots that are called CSR's ramble off every excuse possible why they won't refund the NSF even when it is blatenly obviously a irroneous charge. You can't get anywhere with them.

I thought it was me until I got the lawsuit papers then I found hundred's of frustrated customer's who go through exactly the same thing. I wish everyone would boycott BOA.

They have NO business, personal or moral ethics. If you have an account with BOA and are not a millionaire, you will understand why everyone is complaining about their NSF fee practices.

#157528

Thomas Jefferson said in 1802:

'I believe that

banking institutions are more dangerous to

our liberties than standing armies.

If the American people ever allow

private banks to control the issue of their

currency, first by inflation, then by

deflation, the banks and corporations that will

grow up around the banks will deprive the people

of all property - until their children

wake-up homeless on the continent their fathers

conquered.'

#74928

If people would use the "old "school check register banks give you, there would never be a problem. And here is a news flash, make your deposit THEN write your checks and use your debit card.

Its amazing how I have never had an NSF and I've had a bank account for 17 years!! Its not the banks fault you are idiots.

#68519

Why bother, We are all insignificant. A nat to them.

You will never win, ever. Just stop using banks!

#66268

Last year I was laid off and short on rent payment. I knew this would cost me $35 in overdraft fees but it ended up costing HUNDREDS because BOA moved several items that had ALREADY CLEARED in front of the rent check to make hundreds in overdraft fees! I called and was treated like s--- BOA is totally unethical and shouldn't get away with the things they do!!!!

#60196

Thank you for continuing to ***... your *** mistake just paid me for the week.

Learn to add and subtract from your children. They probably do it better than you.

#33533

I agree with most of you. BofA puts the higher amounts thru first so when you get to the smaller amounts they can charge you $35 for a $1 item.

Yeah we are responsible for our own accounts but come on.... BOFA CS REPs job is to make money for the bank....What better way than to take advantage of people who live paycheck to paycheck? Today was the first time I actually got charged a so called special handling fee for a pending item. That threw me for a loop.

I too had no idea. There is no way to know what item you're being charge for without calling the bank. At least when the items are in the red you know.

And don't you charge the same $35 fee even if you have overdraft protection BofA?

Not a happy customer. Ready to switch banks!!!!!!!

#21193

CS Rep, Your company is a big company but is because of all the od charges that you give and your fraud department sucks. Want to know why?

Because when I submitted a claim about an unauthorized transaction your bank took the longest to send me a letter about what the status was about the dispute. I will never do bussiness with your bank again. My dispute was denied because you people at the branches need more training and I had to go inside your location more than five times trying to fill out the right forms.

I have a company that it's growing and I don't need a bank like this taking money and not be there for me. YOUR CUSTOMER SERVICE DEPARTMENT SUCK(need more trained people to answer the phones and give correct information) MR.X 210

#13165

Hey cs rep, I get my statements in the mail and so does my husband. Neither of us received these so called letters. And Bank of America changes their policies every day as it suits them.

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ID
#116950 Review #116950 is a subjective opinion of poster.
Location
San Mateo, California
Loss
$105
New Reviewer

Bank of America Lock in Agreement Scam

I applied for a no fee mortgage with Bank of America. At the time of application, I was told that 1. I had to lock in my rate in order to be eligible for the no fee mortgage and 2. that if the Fed lowered interest rates that I could call at any time and re-lock the rate. I just recently found out that the seller of the home I plan to purchase is not ready to close by the time my lock-in expires. I attempted to call my loan processor and he hasnt responded to any of my voice mail messages. I spoke to someone who claimed to be his supervisor but I found out later that this was not true. After my 5th phone call I asked to speak to his real supervisor who wasnt available for my call as well. Then I spoke to another person who informed me that with a no fee mortgage I am not eligble to re-lock my rate, I would have to wait 60 days and re-apply for the mortgage and I would have to pay extra points to extend my already high interest rate. Basically, I was lied to and taken advantage of. My phone calls have yet to be returned.
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6 comments
#551061

1. Why did Countrywide change my 5.75% mortgage loan, I Locked-in at, to 6.25% right before signing escrow, without discussing it with me 72 hours prior as loan documents states must be done?

2. Why did Countrywide tell me I couldn’t afford the cheaper loan and that they thought they told us prior already, when I called during signing?

3. Why did Countrywide change my loan to one I doubted my wife and I could afford, when my family was going to have nowhere to live if we didn’t sign?

4. Why did Countrywide tell us their copy machine was broken when we signed our lock-in agreement?

5. Why didn’t Countrywide give us a copy of our Lock-in agreement document when we asked for it since the beginning of our mortgage?

6. Why did Countrywide sell our note to Bank of America that we did not want to do business with nor support, and not hand deliver the note?

7. Why are we forced to do business with Bank of America and forced to allow them to service our loan?

8. Why did Bank of America ignore us on 5 modification attempts to our previous lock-in agreement and only answered and told once that we didn’t qualify?

9. Why does Bank of America deny our QWR for all Loan, escrow, Lock-in agreement, and 6 modification attempts, documents?

10. Why does Bank of America Bank of America threaten to foreclose, selling our note, and actually put our loan into default with pre-foreclosure, still denying us our QWR?

11. Why is it legal for real estate companies and internet sites allowed to show our house available in pre-foreclosure, for 2/3 the cost I purchased it for, at a monthly mortgage half of what I am being forced to pay?

12. Why is it ok for Bank of America to foreclose on my mortgage when the amounts due are the same amounts our houses estimated worth has depreciated, due to Real Estate company’s, Countrywide’s and Bank of America’s practices of unequal, racial, judgmental, predatory lending for greed of money with house flipping and greed of money, no matter who it puts on the street and causes to be homeless?

13. Why is it ok for the home builder to tell us they’re not going to fix the cracks in our stucco unless they can fit a nickel inside it?

14. Why is it ok for banks to exercise their legal document rights, ignoring and denying the consumer their documented rights when the consumer cannot afford the greed of an attorney?

15. Why does everyone, banks, governments, other nations and countries think they can do what they do against Americans and God’s true Children everywhere, and get away with it, without judgment from God?

16. Why did the American Government bail out these banks with tax payers money, for doing these things to Christian Americans that choose to be the True Children of God?

Your Judgment is here, life of your own conscience knowledge, truth and action of un-repented sin of mortality and impurity expressed towards existence, reality and destiny, to have life upon and within yourself. They are your truths, beliefs and actions you decided to agree upon and express upon all things existing or going to, even yourself.

#88618

It's almost been 100 days since I locked in my refinance rate. I paid them 400 dollars for this.

If I delayed the loan like this, I'd have to pay a fee to relock the rate, however I get nothing as they delay the loan. I can't even get an estimate for when it will go through. I never even chose to work with BoA.

My loan was bought by CountryWide which was bought by BoA so now I'm stuck with them. Calls and emails are not returned except by the Sales rep who can't tell me anything about how much longer it will be.

#17282

I opened a checking & savings account 2 weeks ago. Deposited over $5,000 to open the account of my money. I received 2 transfers of funds from a company I do work for that also happens to have BofA. Those went through just fine. On the 3rd transfer, they suspected it was fraudulent and put a -$888,888.88 negative balance on my account and all my checks started bouncing like a blond's *** on baywatch. (lol).

So I call them and they tell me they suspected a fraudulent transfer?!? from a guy who logged into his account and entered specific pass phrases to get into his account and transferred the money. Meanwhile, he's done this 2 times before with HIGHER amounts with no problem.

So now, Bank of unAmerica has stolen all my money and held it hostage until this other guy calls them and clears this up.

I thought we have rights in the country. The right to bend over.

#14958

Worked for b of a for 8 months before i decided i couldn't stand their lack of knowledge and downright incompetence. They hire anyone and everyone and believe me that the people in those branches selling you these loans have no effin clue what they are selling themselves.

They ARE reading from scripts and give you all the wrong info. managers, asst managers, personal bankers, etc...

ALL do not have the proper training to be giving you info on the biggest loan you'll ever take out! Stay away!

#8743

AHHH--- others who had the same wonderful (if you enjoy stress, headaches, making 20 unanswered phone calls a day, running around like a nut, and basically doing EVERYTHING yourself) experience I had. I basically took on a 2nd job as a loan processor…I used the "convenient" online banking system for the No fee mortgage plus program...no worries my a$$!!!!!

On time guarantee- HA! Read the fine print. My loan processor didn't call me for 3 weeks (I called her 2x or more a day from day 1) and had most of the info incorrect. She called me 3 days before the original closing date to START going over the loan details...She was as cold as ice and sounded like she was reading a script and answering my questions from some book, sometimes the answers didn't really even match what I asked.

I had to move the closing 3 times until I told them if we don't close I am losing this home and I will have my lawyer contact them now for compensation. Let me ask you if my rate expired on 3/15/08 why the *** would I want to close on 4/1/08??? That was just the beginning. She lied about making calls, getting in touch with insurance companies, association questionnaires, legal docs- I had to get all of that information.

She then without my consent extended my rate @ MY cost!! Yeah, that DID NOT fly with me, I had her boss reverse that after I explain how completely incompetent she is. I had to call her boss' boss' boss before anything was done correctly. The loan processor was a complete *** who didn't even know who I was after about 100 phone calls from my lawyer and me, (and the local branch office VP).

I could keep going with all the details about how they screwed this loan up, but I'd be here for days and I'm sure there is some kind of word limit here. Needless to say, if you stick with them for a mortgage, don’t give up and keep getting the boss' boss' boss. And if you aren't getting what you need get their boss. Call, email, do what you need to do.

And don't let them pull that fee for an extension ***; they will reverse that if you tell them how *** their employees are and how they can’t get anything correct. They lie, never call back, don't keep you in the loop, it's horrible. I am a great customer with them, I have 2 credit cards, a loan, had a mortgage with them a few years ago-(that one went smoothly), an IRA, money market account, savings, checking...never had a bounced check or late payment...and this is how they treat a Premier account holder. I wrote a letter to the CEO, cc'd several execs and told them this story.

I don't expect anything, but I can tell you the next time I need to get a mortgage I'm not going with BoA!

And I’m seriously considering transferring all of my accounts to other banks. GOOD LUCK TO ALL!!

#7808

LOL...I just ditched B of A today because they did the SAME thing to me. I had a 90 day escrow and locked in my rate.

*** me, I found out that the max number of days they can lock was 45 days. I complained and they PROMISED (lady in the local branch) that I can relock with no fee. When my rate expired, the *** processor re-locked my rate without calling me and charged me a 0.25 points fee (I hope he will die soon). I called him and scold at his ***...his *** couldn't say a word.

What a bunch of lies!!! Home buyers beware!!!

If I'm going to spend that much money, I'll go to a lender who truly deserves it. AVOID BANK OF AMERICA AT ALL COSTS!!!

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ID
#116097 Review #116097 is a subjective opinion of poster.
Location
Elizabeth, New Jersey
Service
Bank Of America Mortgage