Bank of America reviews and complaints 1585
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Explanation of mortgage!
I purchased my 1st home in May 2005. This was all new to me. The finance company that helped me secure the loan left out a lot of IMPORTANT details. Example... my loan could be purchased by a mortgage company other than the initial mortgage company at my closing. This occurred within weeks of my mortgage. Before I made my 1st payment. Purchased by Countrywide and HSBC, a split mortgage. That was not explained to me either, split mortgage. Did either mortgage company contact me to see if I understood everything, or had any questions, NO neither did. I had to ask around what a split mortgage was as the finance company who helped my get my loan was no longer in business. Guess as long as the mortgage companies have someone's name on the dotted line, that is ALL they care about.
My story is the same as TOO many others. I signed my contract not realizing what a ARM was or meant. My payments more than doubled after 2 years when my ARM came up with Countrywide. HSBC did not increase my payments. How could Countrywide raise them, but not HSBC when I only signed one contract when I bought my home, not two? My house now has been set for a Sheriffs Sale next month by Countrywide. It has been on the market 10 of the last 12 months.
When trying to discuss things with Countrywide, I was informed it is "my fault" because I didn't inquire about a ARM before signing the paperwork. It was all wrote out in my contract. They did not care about me, my finances, or the fact I am loosing my home at all, not to mention nothing was explained to me about ARM's. Yet the CEO of Countrywide got 192 Million dollars for "compensation fees" in 2007. Wonder what his salary was? This was on the National News. I hope the FBI hits Countrywide HARD for the things they are doing and have done to their customers. FBI investigating was on the National News also, a different day!
I was told at my closing "pay your payments on time for about 2 years, refinance then and you will be able to get a lower interest rate." NOBODY bothered to say "in 2 years your ARM (and explain what that is) will be up and your payments will almost double from the payment you see now". I was FLOORED when I realized 1 1/2 yrs after buying my home what my new interest rate and payment will be. I no longer can afford my home and as I stated, is starting to go through the foreclosure procedure. Instead of improving my credit by purchasing a home, it is now being destroyed, FOREVER. If you are buying a home, while sitting at the closing, be sure to ask questions like, "in a few years will my loan change and if so to what & for how long".
I guess thinking back now, I should have made everyone sitting at the closing table wait while I read EVERY line on EVERY page of my contract. Because I have 2 "mortgages" - split mortgage with different companies, with different terms in the fine unexplained print.
UNFAIR LENDING PRACTICES
I HAD A LOAN WITH A HIGH INTEREST RATE WITH COUNTRYWIDE AND TRIED TO REFINANCE// THEY DENIED ME// THEN WAS ABLE TO REFINANCE WITH A BROKER WITH AN FHA LOAN FOR A 30 YEAR FIXED RATE OF 6 1/4 PERCENT//// I HAD TO PAY A HUGE PRE PAYMENT PENALITY OF OVER 5000.00 DOLLARS TO COUNTRYWIDE TO DO IT// THEN COUNTRYWIDE BOUGHT THE LOAN IMMEDIATELY BACK FROM THE BROKER THE DAY AFTER CLOSING// HERE THEY DENIED ME AND WANTED TO KEEP ME AT THE HIGHER INTERST RATE BUT THEN THEY ACCEPTED THE LOWER LOAN FROM THE BROKER STEALING MY 5000.00 DOLLARS/// AND MY MORTGAGE COMPANY WAS COUNRTY WIDE AND STILL IS LEAVING ME OUT 5000.00 DOLLARS AND NEGATIVE EQUITY IN MY HOME// ITS PRACTICES LIKE THIS THAT COUNRTYWIDE DOES TO KEEP PEOPLE TIED TO THEM NO MATTER WHAT IT COSTS THE CONSUMER// THEY HAVE FAILED TO ANSWERE MY CURRENT LETTERS I HAVE SENT THEM AND FAXED THEM AND THE BANK COMMISSIONER FROM PA ALSO SENT THEM A LETTER THAT THEY HAVE NOT RESPONDED TO// THEY ARE THE ROOT CAUSE OF PEOPLE LOOSING THEIR HOMES AND BEING IN FINANICAL TROUBLE...
hi thier well some those storys really hurt me to see peps losing what they have worked for for all thier adult lives thier is reson that a morgt company do not want help out thier holders to whom it may get to well here is a athoer story i lost my home this yaer from contrywide last yaer i called 6 times to the person who was handling my loan and they told me that thier is nothing that they can do for me wanted to reduse my mothely payment they told me we cant help you your in a bankruptsy but i kept tring to talk to some one just kept being put on hold well i could not keep the house only after i letf the home they wanted to talk whats the reson for it now its not all thier falt its mine for dealing with cyd they are just not a good company for working pepoel well im tring to get my self back on my feet if thier is some one out thier that can help me please do so thak tuy for your time
Unauthorized checking acct debits!
I once had a credit card issued by MBNA. Once they were bought out by Bank of America, my credit card was now the property of some fools known as FIA Card Services. I had authorized them to take out the minimum payments due from my checking account on the first of each month, thereby never missing a payment, and not being accessed a late fee. All of a sudden on January 1st, 2008, i noticed they began to debit my checking account TWICE for the same amount. So I phoned in to figure out what was going on. They apologized and told me they'd wire the funds back to me and i should see it post back into my checking account the following day. Long story short, I waited 11 days to get that back to me after long hours on the phone arguing with these incompetent individuals. During that call, I revoked the authorization to debit my checking account and demanded my bank's information be deleted from their system. Come Feb 1st, again 2 drafts were debited from my checking account. Again I waited days to get the money put back into my account. Same thing in March. I have had enough with these fools. How dare they think they have the ability to just draw MY funds whenever they want. They are nothing more than crooks and criminals tapping into my hard earned money in order to grab an interest free loan. I have filed a complaint to the Better Business Bureau of Delaware about their illegal practices of basically stealing $ from client's checking accounts. In the complaint, I have also requested all bank fees be refunded due to overdrafts caused by their unauthorized debits, AND in addition, I want compensation for the headaches, and interest for the days I basically 'loaned' them my money (and that interest rate is at the HIGHEST possible interest rate allowed by law). Should this occur again in April, I will be filing a small claims lawsuit against them, or even will consider a class action law suit should I find out they are taking advantage of more individuals other than myself.
My husband had a bank of america card that he was young and spent way to much on. When we were married i paid the card off in full to the tune of $2500. About a month later we recieved a card from bank of america for a lowered ballance of $500. I was comfortable with the amount he would be allowed to spend on this card so we decided to activate it. The card came in an envelope from bank of america, the card says bank of america, nowhere does it say fia card services. so we ended up having to move suddenly and got behind in a few bills we are almost caught up three months later. we used this card during the move and it is maxed out. so my minumum payment is $19 i wanted to take a little off extra each month until everything else is caught up then we will pay this off completely again. i used the card every once in a while i never looked at the statement because i knew i was paying more then the minimum. so $5 here and there was not a worry to me. i logged on to look at this card and i have been charge over draft fees each month. apparently the minimum payment of $19 is designed to occur over fees. my card is charged $30 per month in interst. so if my card is maxed which it is, and i pay the minimum my card will always be over, if i pay over the minimum and use it at all my card will be over. we are never late but sometimes things come up and we can not pay it off complet;ey (something we did every month until this happened) so the last straw is we paid as much as we could this pay check so we could be clear by the 15th so we knew things were going to be tight, everythin is automatic with us and this account always posts on the 2nd. so we thought we had money left over. they pulled what i authorized plus the over fees, and were $3 short in my account. so i just paid $25. they did not charge my account until this afternoon. 10/5/09 i am going to cancell this account
Fia did the same thing to me. Set up an agreement and then withdrew funds at random. One withdrawal was for $1000.00. Thank God the money was not in that account. My bank advised me to close the old account and open a new one. Still, it cost me fees. WHAT FEDERAL AGENCY do I contact about this? I had to close the checking account after 10 years.
FIA Electronic Forgery... unauthorized electronic checks. My story is nearly line for line of yours. We were promised the money back in our account the next day but would take 72 hours to show with almost no question that they were wrong and would fix the error. Now five days later I call and they seem to know nothing about the agreement to refund the unauthorized charge and there are no notes in their system as to who agreed to make the refund, unfortunately in many cases they do not use their real names so it makes it even harder. Now I have to start over. I am worried to learn that they did this to you more than once as I can not afford another unauthorized transaction, the first one took my account to near zero. Class action sounds like a real possibility with these people.
im about to have a suit against those fools too!
Failure to return a deposit after i canceled a loan application, because of lies from loan rep!
In December 2007 sent $415.00 to Eric Park at the cooperate office for Country wide mortgage. The paperwork the company sent me was completely different than our verbal agreement. I therefore called Mr Eric Park and canceled the agreement. He said He would return the deposit. I have called his at least 10 times and left messages with no returns. I have called his manager 2 times ( Ephraim Farol) at [protected] ex 3569. He has not returned my calls ether.
Yesterday 3-8-2008 I called again and added the vice president of the company to the calls (Shawn Welcher) at [protected] ex 4265. He also did not return the call.
The proposed loan number is [protected] dated [protected].
It seems like there was a slight miscommunication. Eric Park has funded loans on 3 properties for me in the past 4 months. He is very informative and thorough in order to maintain his professionalism. In regards to my friend, Fred Kolb in Peoria, who posted this complaint, I think there was just a slight misunderstanding and overreacting on Fred's behalf. My documentation was not correct either because it was not sent by Eric, instead through a processor who just handles the paperwork. He informed me in advance to prevent any confusion. Eric always does his best to get back to me within 2 hours in the same business day. I will continue to do business with Eric because he is friendly, informative, honest, and just an overall easy-to-get along with business professional. Despite all the bad publicity, I will continue to work with Countrywide and especially Eric Park.
horrible customer service and unfair treatment.
I recently moved to Alaska to help my aunt out with her three children and house while her husband was shipped over to Iraq for a third tour of duty. With that came the process of changing my address, my billings addresses, and so forth. Fortunetly, I was relieved I could still keep my bank, seeing as how Alaska is one of the fifty states. I was incorrect in this assumption.
I called to ask for postage-paid deposit slips and envelopes, and a representative assured me they'd be here in 10 business days. When I checked my mail, I had deposit slips, but no envelopes. I called in to inquire why I didn't receive any, but was told I would have to enroll in "Bank by mail". So I was transfered departments and waited a good thirty minutes on hold. When I spoke to another rep. I was informed that was only available for customers in California. I asked for a supervisor. When I spoke to one, he let me know that at this time it wasn't available for Alaska, and I would have to pay for stamps and envelopes, but maybe I would be able to get reimbursed for that amount. He advised I called Customer Care tomorrow. So I called and immediately asked for a supervisor. That supervisor informed me that Bank by mail is no longer offered anywhere, and I would not get reimbursed. I asked for his supervisor. After more outrageous hold time, i spoke to another supervisor who told me the same thing. I asked for Her supervisor, she informed me that her supervisor was busy, but as soon as he was free, I would get a call back later that day.
Surprisingly, I received no phone call. the next day was Sunday, followed by presidents day, So finally on tuesday, I called back and asked for a supervisor. Then their supervisor. Meanwhile, waisting more time on hold and getting different stories from each represenative of the company. By this time, I am upset, and I spoke to a supervisor named Louisa who informed me that I could not get postage paid envelopes and would have to buy stamps to deposit money into MY ACCOUNT, because there is no Bank of America in Alaska. She wanted to check with the military branch (my aunt and many neighbors have military accounts in which they receive postage paid envelopes) and the bank by mail branch, and said she would call me later today or tomorrow. Once again, I did not receive a call.
Luckily, I had her ext. so I called customer service again, gave them the ext. and asked to be connected. After more hold time, she came on the line and informed me that "Bank of america has not forgotten about me" and that she did some research and found out that they no longer offer postage paid envelopes to ANYONE.
After all my time wasted, many broken promises, dealing with representatives that had attitudes and ones that gave false information, I was fed up. I then realized I am going to have to switch banks.
I urge anyone who doesnt want to be treated like a small, meak, and FORGOTTEN individual to STAY AWAY FROM BANK OF AMERICA, which will not serve all americans in all fifty states like they should.
I have had a horrible experience with B of A and I will recommend to everyone I know to pull out. They have terrible customer service. I do not use B of A personally. I have the unfortunate experience of having to deal with them concerning my mothers estate. They act like her money is THEIR money and froze the account. She recently passed away and I am in the process of paying her outstanding bills that are due. Since they froze the account, nothing will be paid. I tried to call the bank for help, but was blown off with not even a return call. I now have to go personally to the bank with all the paperwork showing Executor so I can try to get them to unfreeze the account so I can pay her last outstanding bills including her automatic deduction for her house payment. Throughout my mom's illness we were helping her with her online banking. When she got sicker, she told us where her important papers were so we could show B of A that we have Power of Attorney. They made us fill out their own Power of Attorney form and have to go somewhere and get it notarized. That was a hassle. I don't know what it will take to get them to release the freeze on time to get her bills paid. I am glad I do NOT bank with them and I'm sorry for anyone who does and finds out too late.
This bank is not about custoemrs. Many issues with them to even put down. I left. But continue to file formal complaints. remember now they have LOTS of TAX payers dollars and dont want to help even more. My son is now having issues so he is leaving too. But yes he will be filling a cmplaint to get his issue resolved. Not customer friendly anymore... REMEMBER its your money they are living off of. Maybe it is time to aks them to Pay up...
BOA informed me through online customer service mail that postpaid envelopes are available (I don't know if it is true, just that that is what they said): "As per your request, we have ordered Bank by Mail envelopes. There is no fee associated with this request. Please allow up three to five days for delivery through the US Mail." (3/13/09).
However, it was not clear from their answer whether the Tampa address is valid for all types of accounts registered in all States.
I think the waiting you had to do to get simple answers is atrocious. Also, I think any bank ought to support depositing checks by mail no matter where you are in the world. Post-paid envelopes are a convenience, but I can understand that a bank might not want to offer them in these tough times.
David Spector
Bank of America is a business, and can decide where they provide service (or not). Everyone is also aware that you can speak with five reps from any company and get four different policy answers. Just because they have "America" in the name does not mean BOA must subsidize communications throughout the continent.
I am a customer, use Bank by Mail, I endorse checks, write my own label on a #10 envelope and buy my own postage. Please ... stop whining, hang up the phone, look for a pen and buy a stamp: Bank of America, PO Box 31900, Tampa, FL [protected].
I hope your aunt´s husband arrives home safely.
Predatory practices
We were contacted by the Birmingham, AL office of Countrywide to refi our home. We gave them some info and they said we were approved contingent ONLY on our house appraising a certain amount. We paid for the appraisal, credit report, etc. They did the same thing to us that was posted earlier by someone. They took our money and told us this beautiful time-frame they would close in so many days...never happened, still hasn't happened. Our loan status on their website says we were declined for our loan. We were upfront about the things on our credit report since we had had a lot of sickness in the last 5 years...but before taking our appraisal money we were told the credit report did not matter and were pressured to take our appraisal money. Buyers beware and run for your life. The only time-frame promise that was kept with this company is the IMMEDIATE debit to our checking account when they took the appraisal money from it. So since then all they did was pass the buck to someone else. This company absolutely promised they would do things speedily and this proved to be absolutely false. When we were finally told we were declined I requested my appraisal fee back and the loan officer forwarded the call to the "branch manager" who I informed how I felt about their practices. I informed him that we felt we were treated like a sales number not individuals. He assured me this was not the case and as I started to hang up the phone he had to ask what my name was. This has been a total 3 ring circus for us and I wish I had never answered the phone the day they called. Run as fast as you can to a mortgage company that will be honest with you. Not only our time was wasted but we were given false information and false hope that sure doesn't help when you have already been suffering from major depression for several years. This office's right hand never knew what the left hand was doing and I have never dealt with a company that was as disorganized and incompetent. Again, run don't walk away from Countrywide unless you enjoy run-a-rounds, voicemails from loan officers saying they "will be in training all day," voice mails from those individual's supervisors that never return calls, repeatedly asking for the same documents that you have previously faxed them and all along wondering why they bothered to call us trying to refi us in the beginning. By the time they decided they would deny our loan I was totally relieved that I could stay with the company we've had and rather just keep the interest rate where it is because at least I know my original mortgage company is honest. Since this happened I've learned we are not the only ones that have had similar problems, but luckily we are not financed with them because it could have been much worse as I've read many horror stories since from people who have been financed through them.
We own a home financed by Countrywide and were going to refinance. We were also approved for the loan - contingent on the home appraising for a certain amount. They took our credit card information and immediately processed the $400 for the appraisal.
The only reason we were refinancing is Countrywide kept sending us information that we could consolidate our bills and named a substantial amount of equity that we had to work with. With the housing market the way it is, our home appraised for over $25k less than it should have. I did not want a loan for the amount they could give us; I want my $400 back or at least a copy of the appraisal we paid for.
We never received a copy of the appraisal, they will not return our phone calls, and we never heard anything else from them.
If there is anyone else out there who has issues with Countrywide, please speak up!
Stole my house
In 1996 we had a little financial difficulty which resulted in our first ever late payment (two weeks late). I sent in the late payment with lates fee and the up coming monthly payment to them. Two weeks later to my surprise when checking my mail, Countrywide sent my two payments back to me! When trying to contact anyone one the phone for days on end it was impossible.. no one knew anything of course and could barely speak english. I continued to send my payments with the original two payments in to them on time and they were all sent back, FIVE months worth of payments!
Please keep in mind that this was five months of trying to get to the bottom of all this with people that knew nothing and or had no answers to anything! No managers or upper staff available. I was however transfered to a ladie that was of foreign dialect... the only words that I could clearly hear was that I was in foreclose review! Thus my wife and I knew that we were screwed! Lost the house.
Now I will state that what I posted is the Truth!
As an add-on to my earlier post: I am now preparing to file a formal lawsuit against Countrywide Home Loans relative to my own situation. Countrywide sent us a notice of default while we were in the midst of refinancing. Today -- April 22 (coincidentally my wife's birthday) was supposed to be the day of our loan closing, until I pointed out all the misstatements and misinformation that Countrywide "pre entered" in our Loan Application -- after which, nobody at Countrywide would communicate with us ... Fraudfeasors, thieves, liars, the whole bunch. I have yet to communicate with one individual with this company who actually follows through and performs on his or her promises.
I firmly believe that the entire refinancing deal is part of a greater scheme that allows Countrywide to lull homeowners into believing that they are going to get relief from exorbitantly high payments, after which Countrywide steps in and steals the homes. The appraisal process also appears "rigged" -- I paid $445 for an appraisal (and processing fee). Neither Countrywide nor the appraiser will turn loose of a copy of the appraisal. In fact, the appraiser hung up on me when I contacted him requesting a copy of the appraisal THAT WE PAID FOR! Why?
We tend to think about this situation in terms of our own individual circumstances. But, folks, consider that if there are 50, 000 people who get into this refinancing mess and get ripped off for $400 each: COUNTRYWIDE (and the appraisers who do their bidding) have made $20, 000, 000 -- that's TWENTY MILLION DOLLARS. Does it pay to swindle people? You bet.
Why does Countrywide refuse to respond to phone calls, faxes, and emails?
This has to stop.
If you have insight into the company's refinancing scam, or any information that you can share, please contact me. I will agree to keep all names and information confidential unless and until I'm permitted to identify you as a witness or use the information that you furnish to me.
If we don't fight, we can't win.
Please help me to help us all.
all the best
Brandon
Brandon L. Clark
Attorney at Law
www.brandonlclark.com
P.O. Box 45668
Little Rock, Arkansas 72214
USA
[protected] (cell phone)
As an attorney and a Countrywide customer, I am in complete agreement with all the comments posted, in particular those pertaining to refinancing -- which appears to be a huge scam. Our existing loan was (is) an adjustable rate mortgage that has increased from an initial monthly payment of $600.00 to now almost twice that amount, and at nearly 11% interest (with notification from Countrywide that it may go up further). When we received our most recent rate hike, we had been getting inundated for months by Countrywide with "URGENT" notices concerning our mortgage, inviting us to "refinance today!", get "cash out", lower your interest rate, get a fixed rate. Suffice to say, like everyone else in this boat, we responded to the offer, beginning nearly 2 months ago (the date now is April 9, 2008). I spent about 45 minutes on the phone with a Countrywide representative who advised me that had all pertinent information and would be "back in contact shortly" -- guess what, folks, no contact of any kind was forthcoming. I decided to try again. The next time, I spoke with a female representative who refused to identify herself as other than "Sims", and once again, I was led back through their series of questions about my current mortgage, my income, etc etc. At the end of the long conversation, Sims advised that she would contact me within a day with information on my request. Once again, no return call, nada. But I didn't give up, figuring that I already had invested a couple of hours of my time and it was worth an hour more to get the matter rolling. After waiting a week to hear from "Sims", I called again in response to one of the literally dozens of refinancing notices from Countrywide. I then talked first to a male named Brian, who took all the information that I had already provided twice before, then shuffled me to an Hispanic female, who apologetically told me that I would have to furnish all of the same information to her that I had just given to her colleague. We went through the process again of income, the rate we were hoping to achieve, the fact that we needed to cash out on existing equity in our home as well as hopefully reducing our monthly mortgage to a more manageable amount. She was very nice, polite, and assured me that I qualified for refinancing. She also advised me that once the loan had been refinanced, the new payment amount would be retroactive to the time when I started the refinancing effort. She also assured me that we would get somewhere between $2000 and $4000 in cash out in connection with the refinancing effort, depending on how the appraisal came out. All of that sounded pretty good. However, she said, we would need to pay a processing fee and an appraisal fee totaling $435.00 -- which we did.
Not long after paying the appraisal fee, we received an overnight package from Countrywide with a not insubstantial number of loan documents, including a Loan Application and a "Certification and Authorization" form by which they asked that I certify the accuracy of the information that had been pre-printed for me on the Loan Application. In reviewing the Loan Application, I noted numerous significant errors -- my time at my job was misstated; there was a savings account noted that had $30, 000 in it, according to the application, when I had never mentioned a savings account, didn't have one, and sure didn't have $30, 000 in one; my monthly income was shown as being much more than I actually earn. In effect, Countrywide had asked me to certify a document that included numerous misrepresentations that Countrywide itself had made in completing the application on my behalf (supposedly). Oh, yes, and the closing costs were about $6000, with a final net amount due me (which I guess was the "cash out" amount) of $610. Completely wrong, completely contrary to the assurances that I had received from the lady who took my credit card information for the $435 appraisal fee. After reviewing the documentation, I emailed a new representative who had contacted me to see the matter through to its finish, and let her know (as she had demanded that we "wrap this up" and that I return the Certification and Authorization sheet) that I could not certify the accuracy of the Loan Application in its present form, with all the mistakes, which I carefully noted in a traditional letter to her. I finally faxed back the Certification form along with my letter asking that my letter be included as an addendum to the Loan Application so that it would be clear in the future to anyone looking at this transaction that I had not made the misrepresentations as to income, savings account, etc. I also mentioned that I believed Countrywide's touted "no cost" refinancing was itself a false representation, given that this process was going to cost me $6000 or so. No wonder your company is under federal investigation, I advised this newest representative on my case. I received a terse email from the lady, saying that she had forwarded my correspondence to her manager and someone would be back in touch with me shortly. You got it -- not a word from anyone since that time. Now over a week since someone would get in touch with me "shortly" and still not a word ...
And lo and behold, in the mail with yet another offer to refinance my property, I soon received a notice of default from Countrywide, telling me that I had X number of days to pay them two months' payments at the old mortgage rate, plus penalties, somewhere in the neighborhood of $2500. You can well imagine my response. I let them know that I was going to take aggressive steps if someone didn't straighten out the misguided notice of default, and also let them know that they clearly had an internal problem at the company because the left hand sure does not know what the right hand is doing.
The matter is now continuing, and I expect it to get worse before it gets better. If you have a situation similar to mine, or complaints in general with the integrity and honesty of those at Countrywide involved in what appears to be a huge refinancing scam, please feel free to drop me a line at BLC4law@aol.com Misery loves company and I am sure pretty miserable about this situation and nearing the point where I will take legal action on my own if something doesn't change -- and quick.
late fee ripoff
Reading everyone's complaints has confirmed what I have suspected all along -- that Countrywide and this rogue "debt collector" they employ is ripping off good paying customers! I wasted 30 minutes of my time this morning fighting with them and I was NOT going to be assessed a late fee. After arguing that long, they did reverse it, but some of us need to get together and start a class-action suit against this bunch of thieves! I have also had a perfect record with these idiots -- no late fees and no late payments, for 3 years. So I brought my payment to a Countrywide branch last Friday, the 15th. At the branch it states that if you physically have it there by the 16th, they will not charge you a late fee. Due to the 16th being a Saturday, it technically wouldn't be late until the 18th. So I went to my online bank acct on the 20th and the check had not posted! Weird. I went back on the 21st and it still had not posted! Finally, I got a call from the "debt collector" on the 21st. I went online and saw the payment had just posted. And they added a late fee. I could have walked the stupid check from Carlsbad, CA to Van Nuys, CA where the payment is sent. It is only 100 miles away or less! It should not take 6 days for something to post. I think they are holding onto checks, saying they never got them, and then charging late fees to people to make a profit! And when I told them I have a receipt from their branch that shows it was brought in on the 15th, they could care less! They said the branch shouldn't tell people that a late fee won't be assessed as they are not a payment processing center. Hel-LO -- this is NOT a franchise -- the branch is part of their corporation! I am not to believe anything one of their corporate offices tells me and the onus is on ME to figure that out? I have a feeling they also "lose" payments sent by U.S. Mail. How convenient. I think they hope some poor saps won't fight back and they can make more money by charging late fees for payments that aren't late, to make up for their losses! I saw that the attorney generals of Florida, CA and 2 other states are looking into the unfair business practices of Countrywide. We all know they are the "subprime king" and lent money out irresponsibly, but it also said something about they are investigating how payments are logged. So let's lodge complaints with our attorney generals and if you hear of any class-action lawsuit against them, let me know!
The complaint has been investigated and resolved to the customer’s satisfaction.
This is to all who have had a problem with Bank f America/ Countrywide and been mislead and subjected to predatory lending. I have begun a massive movement to help those who have been faced with the same lies and high priced mortgages and foreclosures that we all face. I need everyone who has ever had a bad experienced to email me so that you can join the fight. There is power in numbers and I plan to be over a million strong and plan to effect BOA bottom line. We need to send them a message that we the people have the power
late fee
I was called a "valued" member for my Mastercard account (which I've had since 1988) by an FIA card services representative today. A cardholder for 20 years and one that pays off her balance every month should mean something shouldn't it? Not as valued as one might think though. When I spoke with an "account manager" as she called herself, she refused to credit my account for a late charge that was assessed because I failed to make my payment the business day before the due date. I paid my balance off on due date but it only posted the next business day so I was assessed a $39 late charge plus finance charges for a balance that was under $300. I felt like a child being lectured about how it was my responsibility to make the payment timely to ensure it posted on paydate and that if I would have called and paid $15 to initiate my payment over the phone rather than over the internet my payment would have been timely and the $15 fee vs the $39 late charge would have saved me money. I explained that my husband's father was just diagnosed with a terminal illness so things are in a bit of chaos right now and the response from the "account manager" was that everyone has things going on in their lives but they still have to make their payments timely. For a customer of 20 years I felt that I was treated very coldly and that FIA's "account managers" are not at all customer service oriented. I asked to speak with a manager but the "account manager" refused saying all managers were in meetings and she could handle my account. I asked for a manager several times and was finally told they would have one call me back within 48 hours. Rather than refunding the late charge she was willing to honor my alternative request to close my account - 20 years - means nothing.
It's the third time fia card services has not sent me a bill and charged a late fee. they also cut my credit limit and raised interest. they said it was my duty to know that i owe them and pay them without a bill. this is the worst credit card company. I know they make a ton of money on late fees.
FIA is one of those outfits that sends out bills late and processes payments late in order to create situations whereby they can levy late fees and apply high interest charges. I had a $36K credit card with them that I just cancelled due to these tactics. The agent I spoke to seemed to be pleased to be losing my business (I have an excellent credit rating). I get the impression that these people are sunsetting their credit card business and are just gouging their remaining customers for whatever they can get. Anyone who has an FIA card should ditch it as soon as possible in my opinion.
scam and stealing!
Bank of America is the worst bank in all directions of time and in every dimension. This is not an exaggeration, simply a fact! They do not credit erroneous charges even if one has proof. This has happened to me a couple of times with them. They are allegedly in bed with the Bonesmen and freemason society groups and will harass anyone if they dare say the truth about the awful business that they are!
Plus they will steal your money by not honoring the proof of the erroneous charges even when the business said they gave a credit. They are alleged thieves like Andy O'Niell who is President of Valley Bank in Helena Montana who closed my accounts for no reason other than to harass me, and then had the audacity to keep over two hundred dollars I had in one of my accounts. He is a liar and a thieve, and I BELIEVE he will soon be behind bars. And, I BELIEVE he ain't going to like the Helena jailhouse! You see Andy is on many boards that have to do with banking thru out the state of Montana. I wrote our banking committee in the Senate in regards to Andy but I believe they are just like him only in different skins! They have not helped me, and yes I do in fact sign part of their paycheck!
Truthfully, Karen Romero.
I applaud your well put thoughts and SAD, every word is TRUE. Bank OF America is anything but. It should not be named as a Bank Representing Americans or for americans. They are wicked, deceitful and manipulative well taught theives. I don't like to harbor ill will toward anyone or anything but as far as BOA, I believe that they have a secret code of ethics that couldn't be made public because it would reveal their dark side for what it is.
unauthorized draft of account!
We have a personal checking and business checking account both with various credit cards through BOA. Due to the real estate market, we became behind on the business credit card payments. My husband alerted BOA of the situation which they agreed to take 35 cents on the dollar for the 2 credit cards for business, but with a payment plan. Last week, the drafted my PERSONAL account for 100% owed on 1 card and 50% owed on the other, causing everything else I had to overdraft. I am closing my accounts. They say they are "within their right" per our credit card agreement.
I put a stop payment for ACH in the amount of $80 and $168. They told me that it would cost me $30 in which I paid. they said although it is 2 transactions for same company not to worry. 3 days later $168 was taken from my account along with a NSF of $35. I then called the claims dept. and said to file a complaint and that they were sorry for this should have not happened but in the meantime they would credit my account the $30 in which I did. 2 days later $80 was taken from my account. I am filing a complaint tomorrow but since when does BOA return funds that allowed to be taken out of account when I signed a waiver not to have an overdraft policy in the first place and paid for a stop payment fee. Claims department also told me that that they are not suppose to tell customers that a ACH stop payment is not guarenteed but yet they will not tell you that at time receiving there $30 fee.
Unauthorized deduction!
I noticed on my fiancee's checking account statement that a deduction of $125 was made on 1/31/08. This was paid to the order of FIA Card Services. It was an electronic funds transfer and shows my name and address but I did not authorize such a deduction, and I certainly did not ever tell anyone to take the money from someone else's account! I will look into this further today to see what amounts of money has been taken by FIA in the past months. I see that there is a complaint listed on this website against FIA for something very similar (dating from July 2007). What is going on...
I noticed this morning that almost $300 was debited from my business account yesterday from FIA for a Bank of America CC payment. This deduction was unauthorized, however the check I viewed online had a "signatory" in the signature line and our address in the top. What gives them the right to do access my money in an account that is suppos to be secure?
over drafting after opening a savings account!
I opened a savings account with Bank of America after having a checking account with them for the past 12 years. I have done all my banking online so I figured it was just as well to process my order online as well. I clicked on the create new account part of the website entered all of my information and requested that funds be taken from my checking account to start the new acct. I got a confirmation notice that my request could take one to two business days and that if approved my information would then be viewable online and I would get my new card in the mail within two weeks. I figured that was fine.
I waited not just the two but three business days before checking online and was not surprised to see I had been approved and had a new savings account already set up. However what was surprising was that it showed at a zero balance and my checking account still had all my funds without any pending transaction letting me know that there would be money being transferred to my savings as I had requested. Well after having read all of the information on having a savings account with them I knew I'd be getting fees charged without a minimum balance so I decided to request anew that money be transfered from my checking. I immediately saw this transaction as pending and my checking account now only showing the lesser amount as available so I was certain this new transaction would process correctly.
Now having a new savings account with a proper balance and my checking account still adequate enough to fulfill all of my pending transactions I did not have a further need to look into it again in any immediate time. A few days later I decided to log in once more just to ensure the pending transaction had processed and everything was indeed in order I find more funds in my savings acct than I had originally in total and a checking account in a very nasty negative red number. Altogether there were five overdraft fees totaling $175. I started to only slightly panic.
I checked my transactions and noticed that both my second requests to transfer from my checking to my savings, and my original request, which was no where to be found when I submitted the second, had both processed on the same day and were now sitting in my savings account which had suddenly swelled to a number I did not have originally in both accounts combined. The total was the amount of both transfer requests combined. I immediately realized the error, but somehow knew that if I called customer service they would see what I did and would help me get my account straightened out and reverse those overdraft fees. I could not have been any more wrong.
The first representative I spoke to, Michelle, very politely listened to my situation and placed me on hold assuring me she would find out how to help me out. I waited on hold no less than 5 minutes and when she returned the politeness had suddenly vanished and instead in a curt voice I was told that I was responsible for the error and that I would not be refunded. I asked why and was told that the error had occurred in "the online banking" and so Bank of America would not refund me.
"Well," I thought, "if the error occurred in 'the online banking' and so she can not help me, I should speak to someone in 'the online banking.'" So I asked to be transferred she, suddenly polite once again, assured me she would get ahold of an online banking representative and then transfer me and again I was on hold. No less than 8 minutes this time. When she returned, the politeness doing it's magical disappearing act again, she informed me again that the error was in my negligence and that I would not be refunded any overdraft fees because I should have known via the pending transaction that the original request was already being processed and that online support could not help me because the original transaction was done at an in bank counter.
Forgetting for a moment that I never requested any transaction inside a bank, although not to forget it completely because it is important, my original woe had been that I did not see the original transaction pending so therefor proceeded, as hopefully expected from an honest customer, to assure proper funds in my savings account by submitting a second request to transfer funds. And not only that but when a transaction shows as pending in Bank of America online banking, it does not count that amount towards the available balance so even if I had wanted to transfer more money than I had in my checking, by the system itself it would have been impossible if the transaction was indeed pending.
I knew I was getting nowhere with Michelle so I asked for her manager. She declined to transfer me because she stated her manager would not get my money refunded either. However I persisted and soon was left on hold again. No less than 10 minutes this time; the hold times getting noticeably longer each time. So next I spoke to Michael, he gave me his last name but I won't say it. Michael the supervisor politely listened to my complaint again along with the lack of logic from the answers Michelle had provided and preceded to let me know that I was responsible because I had knowingly requested the original transfer at a counter inside a bank and that seeing the pending transaction online I should have not made the second request. He never lost politeness but it was very obvious he listened to nothing of what I had said and knew nothing about the way his employers website worked.
I decided to stop there because it really was getting me no where, but I'm now really at a loss about what to do about this. I know that I should not be forced to pay those overdraft fees because it is not my fault, and I don't even know how to submit a BBB complaint because I don't know what Bank of America location I should submit the complaint against because I don't know which one handles "the online banking" for accounts in Texas.
I also have a Bank Of America Account. I had a problem with the once with a similar problem. I sudgest you go into the branch where you open your account and ask to speak with the manager there. Tell him or her what happened. If they still say they can not help you tell them your been a loyal customer for 12 years and threaten to close all your accounts and go to another bank. They should then willing to help you. But you will probably not to need to do that last step because when I went into the branch they were able to fix everything. I hope I am helpful.
Also here is some savings advise. If you want a high interest savings account with no fees or mininmum balanace check out the ING Orange savings account at www.ingdirect.com
Seth
Bank of America - raising interest rates for no good reason!
Three years ago I opened a credit card account with Bank Of America. My original agreement was an interest rate of 0% for twelve months then after the interest would be 8.9%. Well after just 9 months my interest rate went from 0 to 12.9 %. Then on month 12 Bank of America informed me that FIA Card Services would manage my account and that my interest...
Read full review of Bank of America and 40 commentsfraud!
Fraud: me and my wife both have an account with bank of america but the accounts are separate no joint. I make a payment to a company for $300. But the company with only check extracted. The $300. From my account and another $300 from my wife account, so the total amount taken out of the account was$600. When i asked the bank reason why this would happen the bank said that the routing number were are alike. After that information the bank suggested. That i made claim, so i did, a few days later a letter direct to mi wife came in the mail from the bank explaining that it wasn't necessary to make a claim to the company and that the $300. Were returned to my wife's account. That sane day i went to the bank to make a withdrawal and noticed and overdraft in my account $300.,when i called the bank looking for an explanation they told me.that the money returned to mi wife's account was taken out of my account.as far i knew when a claim is made they should talk to the company so that the money taken out the account in the first place was replaced,that's what is called """"fraud""""" thank you.
Yes, Yes, Yes and a resounding Yes. BOA are theives and everyone who works for them are theives. I am sure that is a requirement for hire and then they educate them on how to become legal theives. You can't have any personal ethics and work for an institution who has no ethics or morals. I blame the employees as much as I do the Bank for the employees are the ones who carry out their dirty deeds. I have absolutely NO respect for BOA or anyone who works there. They are all a bunch of LIARS and THIEVES.
Bank of America - late fees
I refinanced my home in California last May and before I could make my first payment my loan was "bundled" and sold to Countrywide. Everything was fine the first 3 or 4 payments. Then in Oct 2007 I send a payment and it took 12 days to go 300 miles from N. Calif to the Van Nuys PO box. I had sent out several checks that same day and 2 days later one to...
Read full review of Bank of America and 34 commentsIncrease in mortgage!
These guys like to raise your mortgage and then give you the run around why they do it. I just bought my house one year ago and they have raised my mortgage over 200 dollars a month. They told me it is due to property tax. Our figures did not match when I added everything together so I called them back and they told me I owe from last year so they took that amount also and calculated it into my mortgage. Customer Service is horrible and what tops it off is I didn't even pick this company to finance through. My old company sold my account to this company. You think you are getting a fixed rate mortgage but they are definitely making it adjustable. We need to put a stop to this somehow.
READ contracts before signing them
Bank of America - scam and fraud!
I did a wire transfer using bank of america in baltimore MD johns hopkins branch to my own account in India using SWIFT codes. I was told that india is a slow to pay country and it takes about 3 weeks and no investigations would be don't till then. It has been 2 and a half months and it hasn't gone through. My bank in india has not received any information...
Read full review of Bank of America and 457 commentsstealing my money
Mailed my payment 14 days before the due date to ensure no late charges. Check never cashed and they charged my account a late fee plus raised my percentage rate due to payment late. I paid online and canceled my check at the bank. sure enough, they charged me again for returned check fee after they tried to apply it to my account late after I had canceled it at the bank. Horrible business tactics. My advice. Dont use fia card services.
They Gouged me, saying I was 1 day late. So they could then up the rate, and hit me with the late fee the next month, saying since the interest rate was now astronomical, I didn't pay the minimum.
Check out your local Credit Union. Their fee's and interest rates are still excellent. Also they don't gouge. I transferred the balance and am currently shutting down that nightmare.
I would not recommend activating your FIA account that was transferred from Wachovia. I have had nothing but trouble. Find another company. FIA will lie to you and their customer service reps are very rude.
who is Fia card services?
we have had our Credit cards with Wachovia which have been terminated by Wachovia due to the sell out to Wells farga
We have no received Credit cards from FIA Card services - but We no idea about the annual charges nor the interest rates - apparently it almost looks like this company does not exists nor does have a public information room
Does anybody from you have more information about FIA card services and if it would be wise to activate their credit cards?
I had problems with FIA Card Services and I did not owe them money, and did not even know who they were. When I opened a checking account at Bank of America, I also signed up for their VISA card. From that point on, I received calls on my home phone that I would classify as
harassment.
I received 2-3 calls per week for several months. On none of the calls would they leave a message on my answering machine. On three calls, I was home and answered the call, and was hung up on without anyone speaking to me.
I also complained online to Bank of America customer support, but the calls continued. At that point I took my emailed compliant and started faxing it to the local branch where I opened my account. Since that day
I have received zero calls from FIA Card Services. :)
Thanks for all this information.Yes I was considering taking FIA up on their generous settlement offer.But when they faxed the settlement letter I didn't like the way it was worded
You think everything is ok because their liked to BofA.
Thanks Again,
I won't be taking a settlement by FIA.
I have read enough of these complaints to see a pattern of behavior that appears to constitute conduct by FIA Card Services that could be subject to legal action. While each of us have been damaged only a small amount (in comparison to the amount needed to mount a law suit), together there may be enough to start a class action lawsuit against FIA Card Services. Does anyone know if any have been filed?
And we thought we were the only ones fooled by those thieves but I see that it is like an epidemic what it is happening with this company. As the same as the other people on the web page, my husband were charged three times without previous notification and they left us with red numbers on the account, $1000.00 usd first two and $340.00 the last one. We have decided to fight so we called to several official agencies and told us that this procedure is TOTALLY ILLEGAL. I recommend you DON'T PROCASTINATE and call the numbers I provide on the botton. Together we can fight more effectively. Complaint on the web is very hepfull but the ones that can make any kind of change or can intervene are the official departments. Put an offical claim at:
Controls of Currency (they control national banks)
[protected]
Federal Trade Comission
[protected]
Close your bank account as soon as possible and if you want you can even go to the police as a monetary froud.
All together can make the different.
I have a BOA credit card that I racked up a huge bill for back in college. I received a letter from FIA last year saying that they could help me out of the situation I was in. So, I gave them a call. At first I thought they were like a collector, but investigated and found out what they really are. They agreed to help me settle the card, after one large payment and six months of small ones. They were very helpful in scheduling the dates of the withdrawals and taking my budget into account. So I thought, wow! A weight had been lifted! Until two days later when I received a message that my payment had not been received and now I had to pay a late fee... the payments were automatically taken out of my BOA checking account! How could I be late?! So I called and found out that they had my checking account number wrong by one number. I gave it to them again, and they said that everything was okay, and they would debit it out then. Two days later, the same thing happens again. They have my checking account number wrong, by ONE number (a DIFFERENT number this time). This happens two more times! And each time I am receiving letters in the mail raising my payments $100 each time this happens until they were wanting $500 every two weeks! Outrageous. Oh, and on two occassions that I called the toll-free number, the phone was answered "Hello".
These people just pissed me off. Been a long time customer of MBNA, then they merged with Bank of America, (FIA) everything was cool. They recently bought out CitiBank Puerto Rico credit card accounts( I live in the USVI). To my dismay, they now claim they have "different" credit criterias to CitiCard and increased my interest rate. If they really checked my history with other cards as they said, the idiots would have noticed that I have 3 other cards with them. "Customer Appreciation" yeah right. APR went from 11.9 to 17.9. I say we stop doing business with them; Power of the People. Thanks to "Uncle Sam" for allowing these money hunger vultures for doing this to consumers, that make "their" world go 'round. Not a satisfied customer. They are running the biggest SCAM ever, and none of the Feds seem to care. Their pockets are getting bigger, but they will all suffer and go to jail.
ESTATE DEPARTMENT: beware
I received a piece of mail addresses to " estate of Jon Doe" being a family member; this is also mailed by FIA CARD SERVICES so must be a SCAM so they are a ### company. So glad for the internet to have a forum to help others out. Sorry for those with the misfortune if you were scammed; take pride in the fact "I DIDN"T".
Claims process
December 28, 2007 I discovered that mine and my daughters vehicles had been vandalized. I immediately called 9-1-1 and my insurance company to start a claim. Today is January 7, 2008 and my vehicles are still sitting in my driveway, undrivable and unrepaired. How long does a claim normally take? All that was done was the windows were busted out. I have complained to my insurance and they assured me that this is normal. We are still looking at 1-2-3 days before anything can be done. I am so frustrated! I have never witnessed anyone having this kind of problem with insurance. I call 3-4 times daily trying to find out what is going on. I leave messages with no response. Noone ever answers their phones. And noone wants to pursue my complaint. Any suggestions?
Typically, a claim such as yours should not not more than 3-5 days, if that, however, with all the floods, wildfires, 84 tornadoes so far in Jan alone, the claims adjustors are stretched to their limit. I am not sticking up for them, and I recently have been in your shoes too, but we must remember that there are only so many of them, and many more claims than they can handle in the usual time frame. I know it is hard, but please try to remember that they are not trying to ignore you. I am sure they are as frustrated as you are.
Bank of America In-depth Review
Overview: Bank of America is a well-established financial institution with a rich history and a wide reach. It offers a comprehensive range of services and products to meet the diverse needs of its customers.
Customer Service: Bank of America is known for its excellent customer service. The bank's representatives are responsive, helpful, and professional, ensuring that customers receive the assistance they need. The customer support channels, including phone, email, and live chat, are efficient and reliable.
Online Banking Experience: Bank of America's website and mobile app provide a seamless and user-friendly banking experience. The platforms offer a variety of features, including bill payment, fund transfers, and account management, making it convenient for customers to handle their finances. The bank also prioritizes security, implementing robust measures to protect customer information.
Account Options: Bank of America offers a range of account options, including checking, savings, and investment accounts. The bank's account fees, interest rates, and minimum balance requirements are competitive, ensuring that customers have flexibility and options. Additional features such as overdraft protection and rewards programs enhance the overall banking experience.
Loan and Credit Products: Bank of America provides a comprehensive range of loan and credit products, including mortgages, personal loans, and credit cards. The bank offers competitive interest rates, flexible repayment terms, and clear eligibility requirements. The application process is streamlined, and approval timelines are reasonable.
Investment and Wealth Management: Bank of America's investment and wealth management services are top-notch. The bank offers brokerage accounts, retirement planning, and financial advisory services to help customers achieve their financial goals. The investment options are diverse, and the fees are competitive. The bank's financial planning tools and resources further enhance the overall investment experience.
Branch and ATM Network: Bank of America has an extensive branch and ATM network, providing convenient access to banking services. The branches offer in-person assistance, safe deposit boxes, and notary services, ensuring that customers have a comprehensive banking experience. The ATMs are widely available, and the fees and functionality are reasonable.
Fees and Charges: Bank of America's fee structure is transparent and customer-friendly. The bank discloses account maintenance fees, ATM fees, and overdraft fees upfront, ensuring that customers are aware of the charges. There are no hidden fees or penalties, and the bank is committed to providing a clear and fair fee structure.
Community Involvement and Corporate Social Responsibility: Bank of America is actively involved in various social and environmental causes. The bank demonstrates a strong commitment to diversity, inclusion, and ethical business practices. It actively participates in community development and philanthropy, making a positive impact on society.
Overall Rating and Conclusion: Bank of America is a highly reputable bank that offers a wide range of services and products. The bank's customer service, online banking experience, and account options are commendable. The loan and credit products, investment and wealth management services, and branch and ATM network are also impressive. The bank's commitment to transparency, community involvement, and corporate social responsibility further enhances its reputation. Overall, Bank of America receives a high rating for its comprehensive banking services. However, there is room for improvement in terms of fee structure and further enhancing the online banking experience.
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I am sorry but that is completly YOUR fault. You should read the documents before you sign them. And your notary should be explaining every document that you sign. I am so sick of ignorant people blaming everyone else for their mistakes. It is people like you not paying attention to what they are doing that is brining the market down! by getting into loans that they cannot afford.
If you are making one of the biggest investments of your life you should pay more attention. And it is does not take a rocket scientist to figure out what an ARM is, it is stated right on your Note, Deed of Trust, and Federal Truth in Lending in bold letters "ADJUSTABLE RATE MORTGAGE" ...what did you think when you saw that