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33 comments

Bank of America's overdraft goldmine

I've devoted hours and hours to studying Bank of America's "accounting" and this is what I've discovered: During the course of the week they will "recredit" monies to your account that had already been deducted leading you to believe you have more money than you really do. Then they will put those old transactions back through along will all the new charges resulting in multiple overdrafts if you have a low balance and aren't wary of your "true" balance and are using "their" balance. They will even undo transactions that have already posted and "reshuffle the deck" so to speak to get even more overdrafts. Call B ofA (1-800-622-8731) every morning for a week and listen to your balance and see if you don't "mysteriously" have more money in there for some reason even though you've made no new deposits. I pay cash for everything now because I can't afford $38.90 lattes.
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Author
Location
Sacramento, California
Loss
$1000
Review #113821 is a subjective opinion of poster.
0 comments

Bank of America....is the worst!

Bank of America is the worst financial institution that I have ever had. Their customer service representatives are the worst and will tell you false statements at any given time. I called to inquiry about a check that I deposited and was informed that it would be available at 5:01pm that day. Which didn't happen and caused my account to be overdrawn. What really bothered me was the rep didn't not my account and told me false information. I am so displeased with them and I am recommending to all my friends and family that patronize Bank of America to find a financial institution.
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Author
Location
Baltimore, Maryland
Review #113743 is a subjective opinion of poster.
2 comments
When I wrote from Thailand that I needed a "duplicate" ATM card, they put a hold on my card so there was no way to get cash. After writing them they kept giving me 800 numbers to call through an ATT operator who asked for an ATT credit card which I don't...
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Anonymous
#73641

I can work as call center agent

Author
Location
Bangkok, Krung Thep
Review #113085 is a subjective opinion of poster.
2 comments
Bank of America nightmare...I transferred funds ($5500) to a Bank of America promotional rate of 0% for 12 months. I was late by one day on two consecutive bills. When I received my next bill, I noticed in small print that my apr % was 34.9%! When I called to inquire,...
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Anonymous
#48269

You were late on TWO payments. And you thought they would be overlooking this? Wrong. You are an ***. They should have hiked the rate to 69.8% just because you\'re an ***.

Author
Location
Newburgh, New York
Loss
$700
Review #112979 is a subjective opinion of poster.
1 comment

Bank of America hosed me

This seems to be how BoA makes their money. I have a secured Visa card with an annual charge (although the paperwork that I had originally signed had led me to believe that there would be no annual charge). No big deal right? Well, last year in March I received my first charge of $29. It wasn't until a few months ago, in October, that I finally got rid of it. I initially paid off the original charge of $29 over the phone. That accrued a $15 pay-over-the-phone charge. No problem, I opted to pay that over the phone at the same time. Several months later, I logged onto my BoA website and found that not only had the $15 charge not been paid, it had doubled to over $30 in late fees. I never used the card so never thought to log on, and they hadn't been mailing my statements to notify me of a balance like they should have been. I called them and paid it again, once again asking to pay the $15 charge right there. This time, they took the extra $15. Unfortunately, they did NOT take money for the $1.50 finance charge. Again, no statements, and I eventually had to open up online bill pay with my other bank (who I actually trust) to pay the finance charge. Almost a year and over 75 dollars to pay an original $29 annual charge on a card that I thought didn't even have an annual charge. Just this month, I logged on in a fit of randomness, and found, in the start of a wonderful new cycle, another annual charge of $29, again with no paper statement mailed to me. I can only wonder the devious ways they plan to hose me this time around. I plan to dump this card ASAP, and will never look back.
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Author
Location
Columbus, Ohio
Loss
$100
Review #112908 is a subjective opinion of poster.
1 comment

Bank of America Ripoff

B of A gladly handled a balance transfer for me and I was very happy to have the 0% financing for a year. I recieved my first bill and there was a late payment fee and a huge intrest rate. They claimed I missed my first bill. There was NEVER any statement sent to me. My mailbox has a lock on it and my bills are not lost or late. I immediately transfered my balance once again to Chase and never had any problems. DO NOT TRY DOING BUSINESS WITH BANK OF AMERICA. They will not remove increased charges for mistakes or errors that they themselves make.
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Author
Location
Muskegon, Michigan
Loss
$300
Review #111750 is a subjective opinion of poster.
1 comment

Bank of America is THE Worst

Bank of America Froze My College Tuition! These people are terrible, particulary a supervisor named Maria Velasquez who won’t return phone calls, forcing consumers to use automated voice response systems that shield real people from resolving their problems. I am trying to pay college tuition and they froze my account due to a “technical problem” with their on-line web site. 15 days later and countless hours of calls to branches, their corporate headquarters and useless customer service representatives; my tuition is still tied up. No one will help or return phone calls. There are some really bad people employed at BofA. Considering all the good choices consumers have, Bank of America doesn’t deserve our business. We need to send them a message by taking our business to better, customer friendly institutions.
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Author
Location
Englewood, Colorado
Loss
$3000
Review #111426 is a subjective opinion of poster.
1 comment

Bank of America rips off a customer of 30 years!

After having at least 1 account since 1979, (and several times a business and/or savings account), in January of 2006 I called the BofA branch in Woodburn Oregon to discuss closing my accounts as my employment status put me over an hour away from the closest branch. I was told to be sure all charges were thru, then call back and they would close the account for me. April of 2006, I called again, stating they were taking $6.50 every month to send me a statement and that I wanted to close the account immediately. The manager was brought into the conversation and I was told the account would be closed the end of that month and I would receive a check for any remaining balance. I actually forgot about the balance, I was already banking with another institution, and never gave this another thought, until now. Looking into my credit score I discovered I have been turned over to a collection agency for $220 of overdraft fees!!! Can you believe that? I called the 800 number, was passed around several times then "accidentally" dropped. Now I am furious! I will not pay these ridiculous fees, and I will take this to the highest courts possible and sue for those court costs as well. I want BofA to contact all three credit reporting agencies and inform them of their mistake. I want this taken of of my credit report right now! I also want BofA to contact this collection agency and have them to drop their pursuit of these fraudulent charges. I also want BofA to stop this ludicrous practice, ripping people off. I want all of this in writing, and I want it now! If BofA will straighten this mess out immediately, I won't have to pursue legal action, but it is my credit you are screwing with, and I cannot afford to just let it go. After nearly 30 years of banking, paying those ridiculous charges, giving them my money, you do this! Shame on you!
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Author
Location
Molalla, Oregon
Review #110103 is a subjective opinion of poster.
1 comment

Bank of America: Use caution when opening accounts

Applying for an account with Bank of America will probably get you an account, but not the one you applied for. I applied for a line of credit with the advertised rate of 8.99% interest rate, my credit score is in the high 700's. I was denied credit. I received a 10,000 credit line with a 21.99% interest rate 4 weeks later that I didn't apply for. When I phoned they closed the account but refused to remove the tradeline from my credit report. Thus it shows me opening and closing an account. For those of you who aren't familiar with reading credit profiles, this looks unfavorably when applying for credit. Apparently 8.99% is false advertising, or only one available at this cost (like a car dealership). Also, opening an account without your permission/authorization may be considered fraud. If you experience this or another issue with Bank of America which you believe is unfair business practices file a complaint with the Office of the Comptroller of the Currency, Customer Assistance Group, 1301 McKinney Street, Suite 3450, Houston TX 77010-9050 fax: 713-336-4301. http://www.occ.treas.gov/customer.htm will take you to the online complaint form.
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Author
Location
Sacramento, California
Review #110005 is a subjective opinion of poster.
0 comments

Bank of America

My wife called BOA to lower her interest rate which is 24.25%. We have good credit and since I pay the bills have not had a late or missed paymet in well over three years. The sale rep stated they do not lower interest rates. They offered her a 'refinance' where they transfer an amount into our checking account and then it is paid off in one year at 0% interest. Oh and this offer was only good for the next one hour. After consulting our financial advisor (because this made no sense to me), we find that BOA makes their money this way. A) They loan you say $5000 to pay off your card,then you actually owe then $10,000 granted at 0% (FOR ONE YEAR) B) Any further charges on that card are not covered by this loan and charged THE HIGHEST INTEREST RATE ALLOWED BY LAW. C) If you don't pay it all off in a year the balance goes to the maximum rate I just cancelled my BOA card and we are refinancing through a local loan shark. His rates are MUCH BETTER THAN BOA
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Author
Location
Herndon, Virginia
Review #108870 is a subjective opinion of poster.