Honolulu, Hawaii
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Poor BOA customer service-- do they really care?

CNN reports "...America's second-largest bank hauled in $6.9 billion in profit during the first three months of 2018. That's the biggest quarterly profit in Bank of America's history, taking out the previous record set in 2011.

The blockbuster earnings are at least partly because of President Trump's corporate tax cuts.

Bank of America (BAC) paid Uncle Sam $1.5 billion in income tax, down 26% from last year, even though overall profit soared 30%...."

CEO Brian Moynihan was compensated $21.8 M in 2017 which included stock awards AND health insurance benefits which represented 250X the average employee. We can only image his 2018 compensation with the record profits mostly due to cuts in corporate tax rate.

He has cut 100K jobs over the past decade.

Per JD Powers, BOA scored lower than the average bank in 9 of 11 state regions.

Per AlterNet, 10 reasons BOA is the most hated bank in America

https://www.alternet.org/2011/10/10_reasons_bank_of_america_is_the_most_hated_bank_in_america/

... hmmm Still banking with BOA?

Product or Service Mentioned: Bank Of America Credit Card.

Reason of review: Poor customer service.

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Anonymous
#1631348

BOA can provide $1 Million to the Trump Inauguration Committee, a multi-billionaire but yet needs to "nickel and dime" their customers with a strategy of chasing every possible way to squeeze another dollar of fees and make any profit out of every single customer and financial instrument. Think about that....

what kind of core values do they have? Their focus is to make money not providing customer service nor customer care!

Anonymous
#1630787

From the BOA website: "... Our Values We deliver for clients, communities and shareholders..." There is no mention of customer service or care as one of their values.... so don't expect any focus on customer service or care.

Anonymous
#1630571

Least we forget… -Per MarketWatch: Keefe, Bruyette and Wood compilation showed Bank of America LEADS (all banks) with $76 Billion in fines (since the financial crisis) -Per Violation Tracker: BOA penalty since 2000 was $58.4 Billion with 119 records -Per MotleyFool: BOA’s cumulative legal liability since 2008 was $91.2 B (as in billion). These fines and penalties come out of YOUR pocket as BOA's top executives still got their nice compensations for 2017 per Salary.com: Brian Moynihan, CEO $21 Million Thomas Montag, COO $18.4 Million Paul Donofrio, CFO $12 Million Terrence Laughlin, Vice Chair $11 Million Geoffrey Greener, Chief Risk Officer$11.3 Million That's over $80 Million for just their top 5 executives, wonder how many millions for the next tier executives.... Do you really think BOA really cares about your customer service issues when you make that kind of money and in light of over $90+ billion in fines and penalties for CRIMINAL activities?

Anonymous
#1630544

BOA donated $1M, yes $1 Million US dollars to the Trump Inaugural committee for parties. If you can obviously spare $1 M dollars, wouldn't it be better used to improve customer service, like more employee training; improving workforce health and morale such as better employee health benefits; etc?

Wonder how the 100K laid off employees feel? Obviously BOA and CEO focus is not on customer service but personal wealth : (. Wonder where all the tax savings on their profits will go to? Not customers service!

My story- had a BOA credit card for over 8 years, paid all my bills on time and a 800+ credit rating. Found out that they cancelled my credit card when a card charge was disapproved. Luckily I had another card to use. Called BOA and they said my credit card was cancelled.

I asked why I didn't get a notice or reason and they essentially said .... Good luck and good bye. I think issue was they wren't making enough money on my account.

So much for customer care. Got a new credit card with another Bank in 24 hours.....

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