I am the sole heir and executrix of my father's will. So far I have tried to liquidate $1000 IRA for more than 2 weeks and BOA, has put up every roadblock in the system.
Firstly, I call the estate department and they said "just file the papers when the court appoints you and it'll be done". Well, that didn't work. So I sent to a BOA branch in Katonah, NY. The lovely lady spent 2 hours with me and finally we were told the "estate department is closed Saturdays- call Monday".
I called Monday and was asked to mail them a death certificate and the copy of the court order and the request for a check- which was done with no response from BOA.
two weeks later I visit a branch in Mount Kisco, NY. Was helped by a lovely banker who waited on the phone line with me foe 25 minutes until they picked up and then endured the painful 2 hours conversation that went like this- you cant have the money because its an IRA. you need to put it in a beneficiary IRA. I asked to do that at my bank and was told it was "not possible" and could only be a BOA acct.
When I expressed my frustration I was told there were no alternatives. Finally after 2 conversations on the phone with the supervisor I was again asked all my identifying info (never mind I was in a BOA branch and already identified by their banker). The supervisor assured me that I could open this account, the funds would be placed in it and then the very next day they'd be transferred to a savings accoun t I have at BOA for withdrawal. Well, it's been 3 days and the monies aren't anywhere to be seen.
I have spoken with my branch in Mount Kisco who assured me of the expedience they would do, but this has been useless. STAY AWAY. This Bank will keep you money forever and never give it to you. You are placed on indefinite hold on the phone lines- even today I have been calling them about another issue (related to a credit card) and the wait time is OVER A HALF HOUR.
RUN, don't walk. Leave this horrible bank.
I am a Chase banking customer usually and can't think of a better place to bank- STAY AWARE FROM BOA. They are the pits.
Product or Service Mentioned: Bank Of America Banking Service.
Reason of review: TERRIBLE CLIENT SERVICE.
Monetary Loss: $1100.
Preferred solution: Let the company propose a solution.
Bank Of America Pros: Jp at mount kisco.
Bank Of America Cons: Not doing what they said, No resolution available, Lack of on site customer service.