Bank of America
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Category: Business & Finances
Contact Information
Austin, Texas, United States
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Bank of America Reviews
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July 14, 2008
Scam charges
I went into the bank to close my account as they kept charging me overdraft fees on April 5th, 2008. I was told there was one more transaction that had a fee so I paid that extra $35.00 and again asked for the account to be closed. The person would not do it and told me I had to wait until Tuesday to see if another charge might come through. I explained to him that I was authorizing NO more transactions to go through. Since then B of A has gotten my overdraft fees up to $811.90... all their fees for returning items after I closed the account.
Now they are threatening me with the Telechex system to prevent me from taking my monies elsewhere!
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July 11, 2008
Unauthor withdraw from Wells Fargo checking
Bank of America illegally withdrew $470 from our Wells Fargo checking account because we were behind on our credit card payment to Bank of America.
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July 8, 2008
Fraud and scam
I have a Bank of America account. I deal with the bank nearly always by the Internet or telephone as I travel often. Awhile back I ordered a CD that paid 5% interest. I knew roughly the date when the CD would mature, but not exactly when, as the bank didn't include details of it in my bank statements. I received a letter from the bank that my Cd had matured and the bank had rolled it over to another CD paying only 1.59%. I hadn't asked the bank to roll the CD over, they do it without asking.
I could see on the Internet that the Bank of America was at this time offering interest rates of 2.5% on CD's. I applied online for another CD with the higher interest rate. Knowing that if I changed the CD that the bank had given me within 10 days there wouldn't be a penalty.
After a wait of several days the bank emailed me that I couldn't apply for a new CD online, but had to contact my personal bank for one. Seems the online offers are for attracting new customers. I contacted my representative by email asking for the CD to be changed for one with the going interest rate. There wasn't a response from her, I inquired again a few days later and was told that I had exceeded the time limit and would be penalized three months interest if I changed CD's.
My sister, who also has a Bank of America account, had the same experience. The bank must save a lot of money by paying less than the current interest rate. Another thing about the Bank of America is their horrible computerized telephone system. It's very difficult to get to speak to a human, and when you do they never know anything and can't help. They say they need to transfer me to another person to help. I plead with them not to put me back on the telephone computer system, but they mostly do.
I really dislike this bank and am searching for a better one.
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July 2, 2008
Fraud & scam
I've been banking with bofa for over 10 years now. Last week I received a letter informing that both my personal checking and business checking accounts were closed. No explanation was provided as to why. The only phone number provided was 1-704-386-8908. I have called this number every day trying to get a hold of someone, but noone ever answers (even during their stated business hours) and noone ever returned my messages. I had the local branch manager look into this and they were not able to get any answers either. This is absolutely ridiculous! Bank of America is run like a scam.
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June 27, 2008
They’ve stolen 250$ from me
We got overdraft in our BOA account and instead of them letting us know they charged us $35 for every transaction! Most of which were between $2-$5 transactions! My husband calculated that for $22 in overdraft they charged us $250!!! I do all my banking online and check it every couple of days! When I checked it the morning before it was fine! We called them and they stated that it kept letting us post transactions with our debit card because the payments were pending at the time they were run as credit. So the next day we end up paying nearly $250 in fees! We finally got notices in the mail a week after they had already charged us. They couldn't call us and let us know. I am PISSED! And I will deffinitely change the bank!
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June 22, 2008
Misleading payment due dates on credit cards
Bank of America credit cards have their system set so that sometimes due dates fall on non-business days, for example Saturdays and Sundays. However, they will not accept payments on non-business days, which means they will not accept payments on the due date, and your payment is therefore due earlier than the statement due date.
Specifically, a payment must be made by 3:30 p.m. EST or it will be credited to the next business day. Let's take a fictional example. Your statement says "Due June 13". Let's say June 13 is a Friday. You go online June 13 at 8:30 p.m. to make your payment. Too bad, it's already late, it won't be made until Monday, June 16th.
Or, let's say you go to your local BoA and make your payment at 3:40 p.m. on the 13th. Again, you are too late. Even though you are IN their bank ON the due date, it is considered to be made on Monday the 16th.
Now, obviously, you COULD have payed them on time on a Friday. Let's take another example. Let's say your statement says "Due June 15" and June 15 was a Sunday. You CAN NOT pay them on a Sunday. You can't pay them online, or on the phone, or in person, or by mail. There is no way. You can't pay them on Saturday, June 14th, either. So your payment is ACTUALLY due on Friday June 13th. But there is NO indication of this written anywhere on your statement.
So, again, if the payment is due June 15th, Sunday, and you walk INSIDE the Bank of America on Saturday morning the 14th and make your payment the day BEFORE it is due, it is STILL considered late, even though the employee is looking right at you and can look at the calendar and KNOWS you aren't making a late payment.
Then they will charge you a $39 late charge, and possibly raise your interest rate. This has happened to me! I've tried to discuss this and get the late fee removed, etc. and it's like talking to a brick wall. It's their "policy". I find this to be fraudulent. After all, in this age of computers, they can certainly accept payments on the weekend. The computer knows what day the payment was made, and the time down to the millisecond! They could certainly accept my payment made in person inside their bank on a Saturday, and they could also accept online payments on weekends dates if they so chose. I know that I can pay American Express online anytime, 24/7. I could log on Sunday at 11:50 p.m. and make that payment and they would consider it paid on time.
At the very least, they could change their due date system to not issue any payment Due Dates for non-business days. So if, due to rotation, it would be due on a Saturday or Sunday, it would either bump it forward to Friday's date as the stated due date (which is really true anyway) OR they could be courteous and bump it back to Monday. I could accept this, but not this sneaky cheating method of payments being "due" on days when they will not accept my payments.
I do not recommend Bank of America to anyone, for ANY of their services. I've had bad experiences with their savings, checking/debit AND online banking as well as credit cards. The only advice I have is to stay far, far away!
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June 17, 2008
They have stolen my money
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 blonde’s boobs 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.
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June 17, 2008
Thieves
Recently, I made purchases on my BOA account. On Saturday, after the "end" of the business day, I found I was in the red by $22.00.
Because I had cash, I deposited in my account and had a positive balance. Then I was given another check of $373 and put that in the account. Until today, all the charges were pending. So almost $500 in my account, and then I find that most of the oldest transactions are either pending, or they've been given an earlier date to justify the $35 fee taken out of my account.
I'm not a rich man, but at the same time, if I owe money, I pay it. But every time I turn around, the system is backdated or the charges posted out of order to make sure I have to pay. When I asked about this, I was told to make sure I pay attention to how much I spend. When I said that I'm poor so every penny is always looked at, they got upset. I'm paying more in bogus bank fees and charges than what I have because even when I put money in, they still keep charges pending until more money comes in the account. More than once, I've seen a transaction post 3 days earlier or a deposit post for the next day, even if it's been on time. What should I do?
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June 16, 2008
Fraud and scam
For nearly 30 years, I maintained what financial institutions call 'excellent credit'. I've borrowed and satisfied close to a half-million dollars in various loans. Never defaulted on a single one. Always made payments on time. In 2003, I started a small business and then the following year, purchased a house. The credit was good enough to take out a 90K (unsecured!) mortgage loan in my name alone. As a result, Bank of America, suddenly and without explanation or prior notice, raised my 9% APR to 26% on two credit cards having a combined balance of cloe to 30K outstanding. I had always paid more than the minimum monthly payment until the minimum went from averaging around $350/mo to a combined whopping $800/mo. and RISING!
For the record, I am a long-term customer of Bank of America. Carrying everything from savings and checking (business and personal) accounts to investments, Certificates and major credit cards.
Last year, I applied for and was turned down by Bank of America for four different home-equity-type loans, even though I have sufficient equity in my home, to consolidate bills and lower my monthly payments after expenses relating to the illness and subsequent death of my mother, followed by a rash of necessary home repairs necessitated using up the last of my savings (cash-flow insulation.) and I am now faced with the following options: bankruptcy, giving up my business, yanking my daughter out of college and/or possibly losing or being forced to sell my home.
Is this fair or even legal business?
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June 16, 2008
Terrible service
I went to use my b of a debit card and it said that the bank would not process it. I tried getting gas and it wouldn't let me. I also tried the atm and it still wouldn't let me. I am 5 mo pregnant and have an almost two year old son who needs diapers which i was also going to buy today and that didn't happen. This is very frustrating. I don't know what else to do. I hope this report helps...
I called the bank the next morning and they said that my account was being referred to risk closure and that there was nothing they could do. I have $150.31 in my account that they will not let me have.
I also do online banking and in the past have had several overdraft charges when my account says its positive. This is getting old and costing me money that i can afford to lose out on.
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