BofA has become desperate and greedy. I have been a customer for over 10 years and as of today have closed my checking and credit card accounts with them.
I was recently charged two overdrafts because we transferred money from my wife's BofA money market account through her employer. The bank will not admit owning the money market account even though it's name is all over the card, the number on back is for BofA and you must log in through BofA online to use and transfer money on the card. So BofA has lost my 10+ years of business for $70. I also believe that this company is corruptly grouping transactions from large to small and manipulating processing times in order to gain the most overdraft fees possible.
I have called numerous times in the past few months and hold times are always over 30 mins, representatives are non-empathetic and lack any care towards their customers. BofA was once a great company but customer service has deteriorated over the years and it's obvious that they can't make money with investments so they bludgeon customers with fees to make ends meet. This isn't good business. Please remember that banks are supposed to make money through customer money by wise investments.
In the end this is one less customer you can steal from and I'm sure many more are jumping ship. Good riddance!
Product or Service Mentioned: Bank Of America Customer Care.
Reason of review: Poor customer service.