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Bank of America Complaints Summary

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Our verdict: When using services from Bank of America with a poor resolution rate, be vigilant. Understand the common pitfalls other customers have faced. Prepare thoroughly for any interactions with their customer service, and consider alternative solutions if your issues are not addressed satisfactorily.
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8:58 pm EDT
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Bank of America predatory overdraft policies

I’m writing you because you represent my voice and that of my fellow Americans in government when we feel we are being wronged. At this time, Americans are struggling mightily to make ends meet. Your efforts to fix predatory lending practices (especially in sub prime lending) have been noticed and appreciated.

To that end, I feel that another predatory practice by Bank of America needs to be discussed in a public forum and addressed soon thereafter. B of A currently charges fees of $35 per charge when one tries to charge more than one has in his or her bank account. At face value, it may seem that this is a fair practice. I can understand the practice if someone is passing bad checks and a fee has to be assessed. But with today’s debit technology, an automatic decline should be easy and free to the public.

When one digs deeper, one realizes that this is a practice purely designed to unfairly gouge the American public through deceit and obfuscation.

So, here’s the policy…A $35 fee for each time a charge over your funds is ATTEMPTED. As an example, recently I unknowingly was making charges on my debit card when I didn’t have the money to cover it. The charges were numerous but only totaled $23. That’s $23. One charge was for $.27 cents…for which I was charged $35. B of A charged me over $400.00 in overdraft fees for that $23 overage. I called Bank of America to try to find some relief for these charges and was told no. Seems counter to the “flexibility” and understanding for families that the new administration is trying to get in return for billions in bailout dollars.

Look a little deeper and the practice is even more disturbing:

1. You can’t actually just get an option for a decline on your charge without the $35 fee. So, even if you don’t have overdraft coverage, you will still be charged $35. Since technology has allowed banks to simply decline a charge, I don’t understand how BofA can justify charging a $35 fee for each charge versus just declining it for FREE.

2. BofA says the only way to protect against this is to link a BofA credit card or a savings account to your overdraft checking. So, an over-limit charge is charged to your BofA card or deducted from you savings account. In both cases, BofA makes money….either through interest on your credit card or from service fees on the savings account that you are required to have. And, by the way, the overdraft service also has another fee associated with it.

3. As if that weren’t enough, BofA recently increased the allowable number of charges per day from 5 to 8. That a $105.00 per day increase, per cardholder.

The bottom line is that I don’t want my money back from BofA (though they should have at least treated me better considering I hold six accounts with them). I, like the many Americans flooding blogs with similar stories, want justice. I would like this issue explored fully and for Bank of America to be called to answer for this unfair practice. The fact that American taxpayers in the US now own a $50B TARP stake in BofA (which only has a market cap of $40B, by the way), only makes our voices that much more relevant in this matter.

Lastly, I will say that I firmly support Obama’s call for Americans to be more responsible with their money. I was less than responsible for letting my account go overdrawn by $23. Thankfully, my wife and I make decent money and can cover this amount. Just think how American’s with lesser incomes would struggle with this. Then realize that this a core profit center for BofA.

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bcrenshaw
Old Hickory, US
Feb 02, 2010 9:46 am EST

I am on disability Social Security fixed income. I almost became homeless because bank of america hit me seven times for one overdraft transaction. Thanks to some community agency our rent was paid. I understand them getting paid for NSF but not at the extent to keep adding fees. I have been a long time customer since 1981 and stayed when the change over to Bank of America. I can't afford to keep catching up every month to their charges. I really don't like changing banks but I am forced too.

From Buffalo to TN

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Big Gov Lies
, US
Jan 27, 2010 1:32 am EST

I don't expect the Feds to do anything about BOA's predatory business practices. My suggestion is eveyone document their purchases and be responsible, and if BOA
continues to charge fees that are questionable and predatory business tactics
to increase their bottom line, start a email message center and create a class
action lawsuite. If you hurt the Boa maybe they will quit swallowing peoples
money. You have to opt into the automatic decline of overdraft for debit
cards, but they will not verbally disclose it to you unless you corner them.
Don't expect Berry Obama to help either, he is the same lawyer that robbed
from banks to loan money to unqualified home buyers that defaulted in the housing crisis. Berry's smiley face fascism will kill businesses and make eveyone equal.
Equally poor.

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Rob wagner
Ballston Lake, US
Sep 04, 2009 4:07 pm EDT

Well, there are several issues going on here.

First, the individuals responsibility to managing their money. That is an obvious issue that must be addressed. Americans do need to be able to control their spending and be aware of their finances as they use them. There is little room for argument or debate on this issue. It seems quite cut and dry.

Second the Banks need to offer their customers their money so that they can spend it how they see fit. The banks are not financial counselors or babysitters deciding how your money is spent. They are an institution in business to make money.

Thirdly the free market should dictate legislation to protect both the consumer and the business from flagrant and inappropriate practices that can cause financial devastation. Simply put, fraud protection and consumer purchasing protection.

With these three basic understandings we can address the real issue here. There is the reality that americans are being held under by predatory lending practices. We just ended a decade of such practices at the mortgage end of the banking institutions. They realize that americans are financially uneducated for the most part, and reap the benefits at the expense of the whole nation. We just paid out billions of dollars to how many banks as Obama nationalized them? The answer is in 100's of billions. So, now we get down to something as simple as overdrafts. A fee for someone who is not paying attention to their spending pattern and overdrafts their account is understandable, but the banking system creates a method of controling your payments and ordering them so that if you do overdraft you are likely to do it several times. They simply call this highest to lowest. As your payments get allocated to the account your credit line lowers and you have less in there, but if you make the largest purchase at end of the day it goes to the beginning and you start with a much lower line after that. It is an intentional behavior done to maximize profit and capitlize on inappropriate spending patterns. So there are some questions:

Should the banks be allowed to determine which payment is made first. It seems that when a payment is placed on your acct it should be removed, and not rearranged so that you find yourself in such a situation. Now, the real issue is that this behavior is mainly applied to those who are low income because they live paycheck to paycheck and dont have necessarily the best credit. So, the banks will say it is to give them the opportunity to pay their rent on time without having issues with their landlords or their mortgages. But then, is that the banks place to determine our spending patterns. That becomes an issue of control as a means to reap benefit of the poor.

Should Government create legislation that would put an end to practices. Well, we already see our government in to many arenas. However, they did just bail out the banks, really it was me and you that bailed out the banks, so YES, it seems appropriate that the banks should not be allowed to dictate the order of payments based on the fact that americans are the ones that are bailing them out.

Finally, should a class action law suit be brought to the banks that practice these predatory charges. It is clear that the average american can not affor 2 or 3 charges on their acct from week to week. So, how does one go about beginning such a suit. The reality is that, YES, the banks should be forced to pay restitution because infact it is criminal to levy such charges under the premise that they know how to spend your money better than you do. The reality is they are a bank and hold your money. You do them the favor, not the other way around. They make you feel stupid and useless when you do talk to them about it and it is with disregard that they throw you away when you ask for some sort of levity. B of A makes 17 million a day roughly from such charges. That is over a billion a year in overdraft charges alone. They should be held responsible for abuse as well as any bank that feels they can determine the psychy of peoples spending behaviors and then generate specific methods for controling those patterns based on their judgement. Wouldnt it be more appropriate that if you make a purchase that money be removed in an age of electronics where everything happens instantly?

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858Uptown
Winchester, US
Apr 24, 2009 12:51 am EDT
Verified customer This comment was posted by a verified customer. Learn more

HANDS DOWN THE WORST BANK KNOWN TO MAN…………….they have no compassion……… THEY CARE ABOUT NOTHING BUT STEELING MONEY FROM PEOPLE AND CHARGING OVER DRAFT FEE’S………., I have been with B of A for 10 years. I am marching down to B of A tomorrow and pulling every account i have with them which includes two personal two savings and two corporate accounts.

BANK OF AMERICA IS THE WORST Bank in existence. THEY ARE MEAN AND corporate. They LIE all the time. They Never EVER will have your back.. They tell you one thing and do another…….. I am finally brave enough to march down and be done with them………………….. I can honestly say I hope they go under. Two Customer r service Reps told me that because my atm deposit did not disclose there would be a 6 day hold on a check that I would get the fee’s reversed……… I call in once the fee’s post and they tell me that they don’t know what I am talking about…………..i begged them to listen to the call themselves so they can hear for themselves the promise that was made to me and they told me the calls being monitored is for quality control only.… Good answer! You think we are stupid…….. Needless to say I am having my attorney supine the notes……………….. I was LIED TO………… THEY ARE UNETHICAL………….. IF ANYONE THINKS ABOUT Opening AN ACCOUNT WITH THEM PLEASE DO NOT DO IT……………. THEY WILL ### YOU OVER LIKE THEY HAVE SO MANY PEOPLE.. WHY DO YOU THINK THEY HAVE SO MANY LAWSUITS AGAINST THEM BY THE PEOPLE SPEAKING OUT ABOUT THEY WAY B OF A TREATS THEM AND OVER CHARGES THEM……………………………… GOOD LUCK B OF A……… KEEP TREATING PEOPLE LIKE crap. I’m sure it will defiantly get you somewhere!

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Bank of America no monthly statement or bill sent

I have noticed that Bank Of America Has not sent me my monthly bill. I was in shock after calling them, that they claim they have sent each monthly bill.
I called the postal service and asked them to inquire about misplaced or misdelivered mail. They said no issues there. So I call Bank Of America today and the operator told me that they have had similar claims and numerous people in the same situation as myself. Is it a ploy to damage my credit or place me with penalties due to a game the credit company is playing for revenue?
I pay all my bills on time and dont try to dance around not paying what I owe. Please help me.

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victoria99
romeo, US
Apr 22, 2009 10:45 am EDT

I also am one of those people who did not receive the so called "addedum" that was sent out regarding the rate increase on the BANK OF AMERICA rate increase! I never received this notification via mail as they indicated and I get my mail regularily with no issues at all in the past. It is examples such as that which make me wonder about the ethical practices that are being set forth, or lack thereof.

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victoria99
romeo, US
Apr 22, 2009 10:39 am EDT

You are in the EXACT situation that a majority of us are faced with. Bank Of America is increasing rates to a level where most can't pay and will be faced with bad credit scores and unable to purchase anything going forward. That will work wonders for the economy. I don't think we've yet seen the mess that's to come due to this immense bad move on the part of BANK OF AMERICA. I know three people who have flat out refused to pay on their cards going forward. It doesn't make sense that a credit card company is trying to compensate for their bad practices and truly making a very BIG mess out of everyone's lives. I'm not sure how the CEO's can sleep at night.

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Bank of America Insurance Claims

March, 2009.

Obviously this company must have some of the worst service department in the country. Time and time again I've found complaints regarding Countrywide and their sluggish service.
I experienced it first hand this march, after my mothers car was vandalized and all wheels were stolen. The proper claim was made, a police report was filed and we waited for the claims adjuster to contact us. And we waited. And we waited. So we called the claims office, and they transferred us to his phone line, which of course he did NOT answer (seems this is a nifty little trend within this company). So we left a message, and waited to hear back from our adjuster. 1 day went by and we did not hear back, so we called, and again he did not answer, so we left another message. And we waited again... and we waited... and we waited... and we waited... and we waited. After almost 2 weeks, we talk to costumer service and explain our situation, so we get transferred to his supervisor. OF COURSE she did not answer, you're not dealing with professionals here. So we start feeling like we're stuck in some kind of pyramid investment scam where our calls are never returned, but alas, he calls the next day. Mind you, the car has been on the side of the street, sitting on bricks, waiting for these people to resolve anything. But I digress...
So Now we get contacted by the claims adjuster, he tells us someone is going to come by and ### the cars damage, "great..." we exclaimed with disappointment. followed by the obvious question "When?" . "in about 3 days" wonderful...
So now we have no other choice, we take the car to be repaired out of our own pocket and hope that for some reason Countrywide is not such an embezzling enterprise as they've made them selves appear to be.
One more week has passed (total of 3 weeks so far), now finally some progress has been done, our adjuster faxes me the reimbursement agreement. I read in shock as they claim the repair costs are 1800, contrary to the 3000 that was actually paid.

So, they make us wait for 3 weeks, we are forced to pay out of our own pocket, and once we do, they finally decide to make progress and inform us that's their assessment? oh really? How convenient.

Worst insurance company I've ever dealt with. And I've had some very shady insurance agencies but at least they came through at the end.

Stay away!

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Zoot
, US
Jun 10, 2016 12:28 pm EDT

I don't think they'er so bad! I am a policyholder and just got my car fixed after a tree fell on it. I was actually looking up what to do since they might have a claim against the property owner upon which the tree sat. However, my experience was fine, and all of you people - let me ask how much you pay? You get what you pay for. If you want cheap rates, then expect them to be strict. Duh. Millenials.

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Castore357
Shirley, US
Feb 17, 2015 8:34 am EST

This is the worst insurance company I have dealt with or heard of. STAY FAR, FAR AWAY! from these people. I don't understand how they are allowed to stay in business. I was in an accident with some who used them for insurance. It will be a year this April, (it is now almost March), and I still have no car. It is still in the body shop, waiting for payment to be repaired. My rental car was towed months ago because countrywide never payed the bill. They refuse to pay the towing fee to the rental company and the storage fees to the body shop. The shop won't fix the car without getting its storage fees. The other company involved in the accident (progressive) paid their half of the repair, rental, and storage fees. This company countrywide should not be allowed to issue insurance to anyone. I repeat: STAY FAR, FAR AWAY FROM THIS COMPANY, COUNTRY WIDE INSURANCE!

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fedup..
, US
Jan 20, 2015 8:14 pm EST

it has been 9 months since my sons car accident and countrywide is the insurance company he has had to deal with. it has been a nightmare, on top of injuries being dealt with they put you through hell just to get your car fixed
. I can't understand how a company like this is still in business. something has to be done. I am filing a complaint with the state, maybe if they get enough of them the state will do something about this company. Also notify the better business bureau

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O% RELIABLE
, US
Sep 11, 2014 10:15 am EDT

THE WORST CAR INSURANCE COMPANY EVER!

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VINCENT88897
, US
Oct 20, 2012 9:04 am EDT

AFTER I CANCLED MY AUTO INS. WITH COUNTRY WIDE THEY REFUSED TO GIVE ME MY LAST MONTH REFUND...

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Rachel005
Rosedale, US
Aug 16, 2012 10:11 am EDT

DOO NOTTTTT GO TO COUNTRYWIDE! They are CROOKS! Rudee and veryy unprofessional. I have been with them for 3 years. Never did I have a accident. Until recently, a car ran a red light and hit another car. Thr car that was hit spinned on my car. My car wasnt even moving and I got hit. It was a hassle to have countrywide pay for therapy and medical expenses. They constantly sent letters saying that they would not pay for therapy and medical expenses. They are suppose to send forms for the injured person/s to fill out, within 5 buisness days. They did it in 3 months. They have now cut me off from the insurance even though the accident had nothing to do with me. When I spoke to a Anthony Torres (EXTREMELY RUDE!), he said to me if I have a problem with countrywide I shouldnt care that they cut me off. He also was saying Im cut off because they dont want ro risk another accident even when it is not your fault. I have been there 3 years. Every month paying 268.52. Thats almost 9, 700.the Injures were no where near that. They need to be OUT OF BUISNESS! WORSEEEEE INSURANCE! AND MR. ANTHONY TORRES, YOU SHOULD BE FIRED!

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uncontent130
Jamaica, US
Jun 15, 2012 11:30 am EDT

****COUNTRY WIDE INSURANCE COMPANY IS THE WORST CHOICE I COULD HAVE EVER MADE! AFTER JUST A FEW WEEKS ON MY POLICY I RECEIVED A CANCELLATION NOTICE BECAUSE THE UNDERWRITING DEPARTMENT NEEDED INFORMATION FROM EVERYONE WHO CURRENTLY AND PREVIOUSLY LIVED AT MY RESIDENCE! AFTER I ACCOMPLISHED THE TEDIOUS TASK OF SUPPLYING THEM WITH FAMILY MEMBERS IDENTICATION AND INSURANCE AS PER THEIR REQUEST, THEY STILL CONTINUED TO CANCELL MY CLAIM DUE TO ONE FAMILY MEMBER WHO LIVES OUT OF STATE HAVING VIOLATIONS ON HIS DRIVING RECORD! MY BROKER EVEN TRIED NEGOTIATING WITH THE COMPANY BY OFFERING A CERTIFIED LETTER AGREEING THAT IF ANYONE ASIDE MYSELF GETS INTO AN ACCIDENT IN MY CAR THAT COUNTRYWIDE WOULD NOT BE RESPONSIBLE FOR THE DAMAGES. THEY ADAMANTLY REFUSED TO WORK WITH ME IN ANY WAY WHATSOEVER! IM JUST HOPING NOW THAT I DO RECEIVE COMPENSATION FOR THE REMAINING COVERAGE AND LAST MONTH I ALREADY PAID FOR INITIALLY, OTHERWISE I WILL BE TAKING THEM TO COURT! I WOULD NOT WISH THIS SORT OF BLATANT UNPROFESSIONAL AND DISCOURTEOUS SERVICE FOR MY WORST ENEMY! THE CUSTOMER SERVICE DEPARTMENT IS VERY AMATEURISH, SHORT-TEMPERED AND ALL AROUND INCOMPETENT!

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Adrian Mays
Bronx, US
Feb 24, 2012 3:24 am EST

An investigative report was done by Lynda Baquero of NBC channel 4 news of New York regarding Countrywide and their customer service regarding claims dated 2/22/2012 news at 5. Not a good outcome for the company however, the gentleman involved was vindicated.

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Adrian Mays
Bronx, US
Feb 24, 2012 3:15 am EST

I also want to add the above incident was a hit and run accident.

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Adrian Mays
Bronx, US
Feb 24, 2012 3:07 am EST

I agree with all of the above reviews about Country wide Insurance claims dept. they are less than stellar when dealing with claims, they do not return phone calls in a timely manner or do not call back at all and slow to providing information to the claimant. I spoke to the rude supervisor Zilla Grennel and she mentioned that the registered owner denied having been in an accident and that my claim can be denied. She mentioned that pictures of the insured's vehicle would have to taken (3 week after the incident?). My SUV was hit on 2/4/2012 and the insured could have gotten there vehicle fixed within 3 weeks. I have filed all documents with DMV, Countrywide and a police report all indicating any false statements/accusations would be grounds for prosecution. I am positive of the license plate number and the driver was female (registered owner is a male). They sent an appraiser and he clearly stated the damages are over $3, 000.00 or more. I used their company's website email service and finally got the manager Brian Legay who immediately sent me an email stating my claim has been reviewed and an offer and release is being issued in settlement of the claim. This all occurred within 8 hours when I have been waiting for 3 weeks for a response. Countrywide is the worst Insurance company ever. Thank God I have Progressive who are very professional. Countrywide got the nerve not to want to deal with my own insurance company about this incident. I am still waiting for the check.

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Bank of America overdraft fees, pending charges... they wait

April 8 2009 my husband had 4 overdrafts post at the same time...first off we never had this problem with any bank before the economy went to the pits..then on the 9th i put $1000.00 in the account and paid the fees which put us at $700... 2 days later guess what i had $35 dollars left. All of a sudden after I put money in all of these charges appeared. Most were a week or more old. We still owe them money and they will have to wait until I am good and ready to pay them...Radio Talk show host Clark Howard has a spot on his website that talks about BoA so we are not alone... They know how to steal money from us so that the fat cat CEO can fly on his Jet and live in his manson... EVERYONE WHO HAS ANY ACCOUNTS WITH BANK OF AMERICA CLOSE THEM NOW BEFORE THE GET TO RICH AND TAKE OVER EVERYOTHER BANK IN THE WORLD...

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beesh
Santa Monica, US
Nov 06, 2010 6:17 pm EDT

I am having the same problem with Bofa. I had four charges in one day. I had all the right funds in there, but they processed all past charges on the same day to get the multiple overdraft fees. Also, I have overdraft protection. I had enough money in my savings account to cover the charges. However, I was still charged. As I complain, I am getting no help. Conveniently, the system is down and the customer service reps cannot help. BOFA IS A RIP OFF. I never, ever had any problems like this with my other banks. Citibank has yet to screw me over. I will be closing my account. We need to get the word out on their unfair practices.

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Don
Tampa, US
Apr 30, 2009 7:21 am EDT

I am writing this note to make you aware of the unfair business practices that Bank of America is engaging in.
In the past, banks have charged an overdraft fee for posted items that took your checking account into a negative balance. This practice is fairly standard, and while the fees are high at $35 dollars an item, it is a known charge that each person can avoid with due diligence and careful accounting.
However, Bank of America has taken overdraft fees to a new level. Now Bank of America charges an Overdraft Fee if the "Pending Balance", goes into a negative, even though the actual account balance is still positive. Even though the bank has not yet "PAID" the item. In other words, the pending item has not posted to the account, so the account balance is still positive, but the pending balance is negative, so Bank of America charges a $35 dollar overdraft fee.
My example would be a pending watch repair charge that took my pending balance on Monday, 04/27, to a negative balance, but because of the watch company's merchant services, the item did not post to the account until 04/29. At no time did my actual balance drop below zero, but because my pending balance on Monday, 04/27, dropped below zero, Bank of America charged my account a $35 overdraft fee.
Bank of America changed their overdraft fee policies back in March of 2008, but I never heard of any change. I do not usually run my checking account in a way that this overdraft event would even be a consideration, but this one in a thousand event occurred with the watch repair.
I think the banking system in general and Bank of America in particular should not be preying on the unemployed this way, trying to generate a fee on something that has not even been paid yet. This type of fee generation is wrong, just wrong, and congress should do something about it.

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Bank of America bank of america overdraft fees are insane

So, I have been doing some research on how disgruntled Bank of America clients really are. In my experience with the bank, I have had some bittersweet experiences. Locally, some of the people who work at the banks are nice people who want to help the best they can, but once you get into the money/power struggles, this bank is VICIOUS.
My bank account was charged 12 (yes, TWELVE) overdraft fees. Now, multiplied out that is 12x35... which levels out to $420.00 dollars. When I walked into the banking center and sat down with an agent and asked to play the matching game (aligning the fee with the overdrafted purchase) the branch employee could not and would not do this for me. Generally, I recieve a small BofA notice in the mail stating the fee and reason for the fee... I have gotten nothing of the sort this time. This is highway robbery. The online banking does not reflect the true nature of your account. They adjust the online screen to fit their needs. I started digitally snapping screen shots of my online banking to prove them wrong, and I was accused of fabricating the screen shots to support my case. Now, this has gotten rediculous, and I would like to propose some sort of B of A revolt. I have already switched banks, and it was painful because B of A made it that way. Get out while you still can folks, head as far away from Bank of America as you can. They are ripping us all off blind. RUN!

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mario_90
Chicago, US
Feb 07, 2010 10:50 pm EST

i recently checked my account online and it would not let me in. i went to the atm by my home, so i could take out $40.00 and it wouldn't let me. so i called the bank and they audio mated machine told me that i was $888, 575.38 overdrawn on all four accounts. i called customer service and they gave me a number to call about account closure. i call this number and it tells me that its having technical difficulties. so i call customer service again and they gave me another number. if i took out 888, 575.38 i would drive an exotic car and maybe even faked my own death. instead i'm trying to solve this. for god's sake i can't even afford to put new tires on my car. all i want from them is my 110.00 dollars i had inside there and my name cleared is that too much to ask for? in the past couple of days i had used my card and it was fine. this is not right. it make me not even want to open an account with any bank!

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amftgb
Phoenix, US
Nov 08, 2009 10:34 pm EST

I don't get it. I've been banking with BOA for years and have never once had an overdraft fee, and I don't have an abundance of money in my account. Bottom line- I don't spend more than what is in my account. Why is it that people can't take 5 minutes to balance a check register before spending money they don't have? There you go, problem solved.

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Hacker
Somewhere, US
Sep 19, 2009 11:04 pm EDT

BOA is HORRIBLE with the fees! I agree! What gets me is the fact that if you go a few different places and buy something, they won't deny your purchase and instead they let you buy anything and just charge you a fee, which adds up! Overdraft protection is no help, because they just take it from your savings account..If I don't have enough money in my checking account, why would I leave money in my savings account?! LOL! I was treated real well by BOA customer service, but that doesn't make me want to keep my account with them. Lol. I finally got rid of BOA and am with Navy Federal now. Much BETTER! :)

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clinares
Dallas, US
Sep 18, 2009 12:21 pm EDT

I've had the same problems with BofA.

I call and complain and they return part of what they purloin.

I filed a complaint with the better business bureau and The Office of the Comptroller of Currency. below are their web sites where you file a complaint electronically. I also found this organization and filed a complaint with my congressman.

everyone here should do the same.

http://www.bbb.org/us/Find-Business-Reviews/

http://www.helpwithmybank.gov/complaints/index.html

http://www.affil.org/

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Joni Mitchell
Kirkland, US
Apr 19, 2009 9:59 pm EDT

From our vantage point, of being a BofA customer and getting out early before you guys did, it looks to us like it is a double SCREW! Their are grabbing profits like pirates and taking TARP money which we will have to pay back in taxes. Agreed, everyone should run away as fast as they can so BofA will fail as fast as it can. They are not good for this country. Account holder since 1985. Account holder no longer. Good riddance!

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Bank of America - Corrupt policies

I have been banking with Bank of America for over ten years. Last week I closed my account because Bank of America had somehow removed overdraft protection from my account & charged me $175.00 for 4 overdrafts. The largest charge to my account was for less than $25.00; the smallest was $1.29 for a cup of coffee. After you tack on the overdraft fee off...

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Bank of America misleading credit card offer

The offer was 0% APR for 12 months on balance transfers and the banker sold it as saving money on high interest cards. But she didn't mention the 3% transfer fee. It was mentioned in the agreement, but buried among the penalties for late payment etc. And in not so plain English. Well the 3% transfer fee up on the full balance is more than the interest I'd pay in a year. And Bank of America wouldn't cancel the balance transfers when I caught on, even though they hadn't yet made the electronic funds transfers. Oh, I can transfer the money back to B of A (Bunch of Assh...?), but that would end up costing me even more.

What really pisses me off is that they do this to a customer who has been banking with them for years, violating my trust in my bank to look out for me, rather than just trying to suck all the fees they can.

I'm looking for a new bank...

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Alabama
, US
Nov 17, 2009 6:31 pm EST

We have been with BOA for more than 8 years, have always paid our month balance with 9.09%. We started a new business and placed $4, 000 on the card for new equipment and had plain to pay it in 4 payments with the interest. Within 2 months before the second payment was due we received a new card with new numbers stating that there had been tampering with our card and they transferred our balance to this new card starting immediately and of course we activated the card. When we did that it gave BOA permission to open a new account and now our interest is at 29.9%.

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Bank of America scemeing

I had the worst experience with Bank of America. I had an account with them for about 4 years. I am a student so it never had a huge balance but I always had enough to get by from pay check to pay check. Then one day I went online to check my balance to see that I was overdrawn. I looked at the messages on my account and conveniently it stated that at the same exact time I was overdrawn, mysteriously my email alerts were shut off by an administrator. I called in because I had several overdraft fees on my account when my total amount that was actually paid out was about $50, and now my account is overdrawn about $300. I called in to see if anything could be done and they refused and said I ought to have given them a valid email address when I have had the same address for the past 7 years and had never had problems receiving emails from them. I am completely discusted with them and went and opened a new account with another bank. I just can't believe how they treated me. And this isn't the first occasion I've heard of them screwing someone over, I've had several friends have issues with them too.

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MDEL79
Euless, US
Dec 01, 2009 3:47 pm EST

I agree, Bank of America they are thieves, I signed up for the text message feature for account balance, I had available money in my checking account, all of the sudden I am overdrawn. It turns out I had to pay 7 fees of $35.00 each because I used my card on small things like coffee and luch, the upsetting part was that I rushed to make a deposit to cover for the amount I went over (less than 10 usd) and I still got hit with the 7 fees totaling $245.00 usd, when I called, they practically said TOO BAD but in a business-like manner. This people have no compassion. I am a single mother with a 4 month old baby. My next paycheck will be $0.00 because this fees are going to absorb it all, and in top of that they will charge me a $35.00 fee for being overdrawn 5 days in a row. I hope someday government regulates the excessive fees this banks charge. No wonder American people are broke, we are just paying fees for the CEO's to get more rich.

spcalws@aol.com

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Bank of America refusal to provide information

I cosigned for a loan. Primary card holder never made a payment. I was forced to pay collection agency that bought the account. I am trying to get bank statements as proof
In lawsuit I am going to persue. G. E. Bank refuses to provide statements. They say they sold
The account and no longer have to provide information. Collection agency (Arrow financial)
Sends me to g. E. To get statements. They say they don't have information. They also are reluctant to help. I heard that g. E. Money bank must provide me the statements and any other information they have concerning me. (Data protection act 1998 subject access request) is this correct.
Any help you can offer will be appreciated. I want to sue primary card hoder for breach of contract.

Rayrainieri

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Bank of America I closed my mom's account... That's when the fun started.

MBNA! Why did you sell out to these loosers? My mother never had a problem with her MBNA card. I closed my mother's Bank of America credit card account after she passed away; that's when the crazy stuff started. I guess Bank of America thought that she should have paid her monthly statement first. Her gold master card, that she had for 20 years, jumped from a very low rate to 21.9%. If you have their credit card insurance, please dump it; they didn't pay for anything. If you have a Bank of Amr card, dump it, transfer the balance to a better card, and if they purchase your bank or cards...move your money!

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Bank of America lower credit limit

I had been having constant problems with BOA since they bought MBNA, I had an auto pay scheduled for a specific date of the month, they took my money out for a while, then they abruptly change my due date, but instead of them taking the money out on the new due date they decided to say I was late, charge me late fees and instantly increased my APR to 29.99%, since I have two other MBNA cards, they increased the APR on all of them and cut my credit line even though Ihad never been late on any bill in twenty five years.
They want me to get a second mortgage because of my credit card debt, I told them NO, two days after that they started cutting all my credit lines which now affect my credit score despite the fact that Iwas never late on any bill.
I love free enterprise but institutions like this are the reasons more people cry for Government Regulaions.They are a RIPOFF.

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BobDylon
Portland, US
Dec 15, 2009 5:51 pm EST

BofA ripped me off also, lowered my credit limit to exactly what I owed the day before they put interest for month on my account. This of course caused an overdraft fee the next day, well before they even notified me of lowering my credit limit by 10, 000.00. I imagine they do this to raise extra money during slow months, as when I called they offered to increase my limit back to what it was. RIP OFF, use another bank.

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Bank of America Unwanted coverage billed

I have had all my banking with Bank of America for twenty years. Back in the summer(2008), I called my bank on a routine matter and was pressured to sign up for Credit Protection Plus-I was told I could get a free trial of it. I declined several times but even after hanging up I felt that the person I spoke to was so adamant I should call back and confirm that I didnt want it. I was told that they couldnt sign me up for it unless I signed and returned a form. I felt relieved.
Fastforward 8 months and I realize that I have been billed an average of $130/month since Sept/08! I had thought all this time the fee on the account was my finance charge because it was calculated on the unpaid balance and again, I didnt sign up for it or verbally agree to it! I called Bank of America today and was told that I should contact the merchant on my statement directly that it had nothing to do with them. I called and found out that during that routine call, I supposedly agreed verbally for this coverage-wrong! They said that they would promptly cancel the coverage but I was not entitled to the refund of back charges. I was angry to say the least! I said I expected a full refund since I did not ask for this. They said that since I didnt complain about it all this time, the best I could expect was a few months be reimbursed.
I have since Googled this coverage and found I am one of MANY that this has happened to. A lot of others missed it on their statements thinking it was finance fees. Apparently this coverage would kick in if I were to lose my job and couldnt make my monthly payments. Well, guess what? I havent worked in a year due to health problems so why on earth would I have agreed to buy this? I didnt obviously! I was told that they would investigate my claim and get back to me in writing within 7-10 days. I know I didnt verbally agree to this or sign anything so I am expecting that they will offer me the standard two months of back payment. This to me is ridiculous. Also, if Bank of America was the one who said I wanted it, how is it that when I call for wanting my money back, they say to contact the merchant and this is out of their control? Isnt that convenient?
I will be like a pitbull until this is fully reimbursed to me. I can not believe the banks can get away with this!
If anyone is even thinking about getting this, dont! For those of you who have said they dont want it, check your bills carefully and then re-check them again- I made the mistake of trusting my bank...wont happen again. Disgrunted and angry on Cape Cod

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MarkRJ
, US
Apr 27, 2010 5:03 pm EDT
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I was signed up in 2006, also without my knowledge. I discovered this when the bills were change to clearly show fees separately from merchant charges.

I complained, and after a couple of months they have refunded my payments in full. But, this is not good enough. They charge 16.99% interest, and that's what I want back from them. It is quite reasonable to ask for a complete itemization of each payment into this fraudulent operation, and for interest to be charged forward for each of these payments. This is because they "borrowed" my money (over $300) for 4 years, without any agreement.

The fact is that this is a multimillion dollar fraud committed against their own paying customers.

It's just as if the undertaker digs up your relative and then charges you to rebury them. They want to charge us more than once for being honest customers.

Join a credit union! They actually care about their members.

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W. Shane Mackey
Plymouth, US
Jun 25, 2009 6:56 pm EDT

For anyone interested in potential class action representation, please contact:

Robert S. Mullen, Esq.
Robert Mullen and Associates, PLLC
800 Starkweather
Plymouth, Michigan 48170
Tel: [protected]
Fax: [protected]

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Bank of America Lack of full disclosure

On March 13 I received a letter from Countrywide Mortgage about my home mortgage. I called customer service and the issue was resolved. At the end of the call the customer service agent asked if I would like a quote on there premium for homeowners insurance. I was transfered to an agent in the insurance division. After a brief interview on the phone I was given a quote that was about $100 less than I was paying at the time. The agent told me he would go ahead and start my insurance that day and that I should call my current insurer and cancel my policy.
I received my new policy in about a week. About 10 days after this I received a cancellation notice from my new insurer. The reason for my cancellation? My house was not in good enough repair to pass underwriting requirements.
I was not informed an underwriter was going to inspect my property nor that being covered was contingent on this inspection. So now I will have no coverage as of May 4th 2009 and I was given no chance to correct the problems. I cannot go back to my old insurer unless I pass an underwriting review and pay $300 more per year in premiums.
When I called Countrywide and complained to the agent that I had not been informed there would be an inspection of my property, the only response I got was that this "is a standard procedure of insurance companies when issuing a policy". His tone of voice indicated he couldn't understand why I did not know this. I replied I did not sell insurance and that this was only the second time I had purchased homeowners insurance. He told me he was "sorry" but offered no help. I feel like I was duped into accepting this new policy without all the information I needed to make an informed decision.

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Bank of America interest rate increase

Today I received a notice from Bank of America (a former MBNA card that I have had for over 10 years) that they are changing my "platinum plus" interest rate from 6.99% to 13.99% and terminating their extended warranty and satisfaction guarantee benefits. This is in addition to raising a multitude of fees and modifying their definition of a foreign transaction. The letter states that the increase is due to "a change in our business practices, and due to the pattern of payments and APR on the account." In reality the pattern is a 10 year old account, never a late payment, $1, 000 balance with a $20, 000 limit and all payments have been at least $100 a month. This seems to be typical of American Corporations nowadays . Do everything right your entire life, then make you pay for the mistakes, misfortunes and frauds of others.

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Regina Stavrakis
Herndon, US
Aug 29, 2009 7:43 pm EDT

I am writing to complain about the practices of Bank of America. My husband had a stroke almost 4 years ago and during his recovery we accumulated some credit card debt. We were approached by Bank of America with the offer of a balance transfer for lower interest rate which we took. We both have good jobs and have not missed any payments. This July we did not received a bill and posted a late payments as soon as we realized we had missed the due date. Although we understand that we are ultimately responsible, we expected to pay a late fee and move on. Bank of America, however, had different intentions. They raised our rate from 8.9% to 29.9% and last month we paid over $400.00 in interest fees alone. We received a letter from Bank of America letting us know that they would be offering us 3 options:
1- Work with us to reduce our payment
2- Expand time of repayment
3- Debt consolidation
When we called them, they refused to lower our rate, and told us that the only option available was debt consolidation through their trusted debt consolidation agency. This would entail to close all our credit accounts, transfer our debt to their preferred debt consolidator and not be allowed to use any other credit.
In addition, Bank of America has reported us to Equifax – making it impossible for us to transfer our debt to another account.
Had we stayed at 8.9%, we would have continued to pay our account without any problems, however, Bank of America has put our family in a situation of great hardship. So far we are paying their required high interest monthly payment and yet they still won’t consider anything else. We refuse the debt consolidation because we consider transferring our debt to a company we no longer trust absurd - Bank of America is behaving like a loan shark and seeking monopoly over our situation. We have other credit cards and do not have any problems with them.
This happened a week before the new law was passed to protect consumers against such predatory behavior. Interesting enough, second time we called they had changed their greeting to: “If you did not received a bill, you still responsible for paying it on time”- by that I assume that we are not the only ones that did not receive a bill in the month of July. I truly believe we fell victims of a scam.

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Ray
Tempe, US
Oct 20, 2009 8:32 pm EDT

If your original balance transfer stated a specific interest rate for the life of the loan, there is no way they can change the rate on you. If it wasn't for the life of the loan, you're probably out of luck. When the banks were making these balance transfer offers/loans, they were giving very low rates (some even zero percent) for the life of the loan. Of course, what they were hoping for is that you would be one day late on a payment and then the interest rate would go sky high. I had rates on a couple of accounts go from very low to 25-30% overnight because of a late payment.

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BofA slave
Highland, US
Oct 20, 2009 10:36 am EDT

I have a old MBNA fixed rate balance transfer of $45, 000 and have paid down religiously to currently $29, 000 and my rates were supposed to be fixed until the transfer balance is paid in full. Since BofA bought them out several yrs ago they are telling me recently its now a variable rate. How can they get away with this stuff. I understand if I defaulted, missed or late on payments, but that is not the case.

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debthelp
Miami, US
Oct 19, 2009 3:38 am EDT

I know of a company that can settle this debt down to about half of what you currently owe. Send me an email to debtrelief@rocketmail.com

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incarolina
Wilmington, US
Oct 03, 2009 1:50 pm EDT

Kayla,
Isnt it amazing how these big corps who we support don't mind taking us to the cleaners? I hope what goes around will come around. #$%^&*()_+! Pure and simple greed.

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kayla raspa
dellslow, US
Oct 02, 2009 10:13 pm EDT

I also had my accounts interest rate raised. I was never late on a payment. They siad they raised it because I had the interst set and then used the card. I was a student with no job. I hope they go under for what they have done to everyone. Maybe now they won't have all the raises they had before. I had the card for at least 8 or more years. That is how they repay you! Thanks for nothing Mr.Lewis Honest in Wv.

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amftgb
Phoenix, US
Sep 04, 2009 8:48 pm EDT

Hey. Any credit card company/bank will make your APR go up after a late payment. BOA typically will only offer debt management if you mention you have multiple credit cards accounts in and outside the bank. They gave me the phone number for the company and I did some research. They aren't affiliated. I know you are mad at the banking company but if you call them and let them know you are having a hardship they will offer you a hardship program. They offered me a 5 year program that cut my minimum payment in half and lowered my APR from 24% to a 2.5% fixed rate. I don't get charged any late fees and my APR will never increase. I would look into that if I were you. Oh, and there aren't any hidden gimmicks with the program I'm on. Good luck to you.

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crazyasaloon
Billings, US
Aug 29, 2009 8:17 pm EDT

Thieves! Bank of America has given you the old switcheroo (like everyone else). You are victims of yet another BAIT AND SWITCH ploy. B of A is known for f---kin over its customers. They do it all the time from their checking accounts to home loans. Open a new account down the street and forget these loan sharks.

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Lynn51
, US
Aug 29, 2009 8:10 pm EDT

People are already having great difficulties making payments due to our economy. We need to remind businesses such as this "That we bailed them OUT!" Yes, us taxpayers whom you are charging outrageous fees. Tell me what should Bank Of America's credit score be? It is companies such as this that give AMERICA a bad name.

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Ray
Tempe, US
Aug 12, 2009 12:09 am EDT

I can't believe they keep sending checks every couple of weeks offering a deal that only an idiot would accept. I have credit cards from several of the major banks. One by one, they've all increased their rates. I had very low rates on some balance transfers from Chase. They couldn't raise the rates because the current rate was good for the life of the balance. However, they did increase my minimum payment to 5% of the outstanding balance. One way or another, all the big banks are going to screw us. I'm working to pay off my balances and then be done with the big banks for the rest of my life. I hope they all go under.

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Bank of America credit card fraud

I have had a Bank of America Visa card for many years. I have decent credit and pay my card in full. Tonight I received an alert about an on line charge. I didn't authorize. 'after 30 minutes on hold I finally get a person that doesn't care that I've been on hold that long. Then he tells me I have to call back once the charge is posted. There is nothing they can do while it is pending! So they are going to let a charge go through knowing it is unauthorized. STUPID. Well by then I'm fit to be tied. I ask him if he can cancel my account. He says yes. Do it. He says the account is canceled. They don't have any customer service they don't care how they treat their customers or that they even keep you. So tomorrow I have to call back and be on hold for who knows how long. I think I'm going to move all my banking.

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boasucks
industry, US
Oct 09, 2009 8:52 am EDT

I have been on the phone with Bank of America five times in the past week. I pay my credit card account on line. When making my last payment I noticed a LATE payment fee. I have a due date of the 28th of each month. I pay my bill early in the month while paying my other bills. When I called to inquire why I was charged a late payment when my payment was paid by the first of the month, a "Customer Service" ~hardly a good description~ rep who did not speak English, informed me that it was my fault that I incurred a late fee due to my not making my payments on time. HUH? I asked to speak to someone who spoke English. That led to many phone calls, being hung up on and told that I am badgering Bank of America. Finally last week I was able to get someone on the phone who spoke english. He could not tell me why my account was hit with a late fee but offered to remove it. Not back date it, refund it. Again, I'm paying on fees that were not valid. I am paying interest on the late fee amount for the month since they will not back date the reversal of the late fee. Conveniently, I did not receive a statement for September. How many would never notice they were erroneously charged a "LATE FEE?" Today I called to see if the fee was removed. Again I am told that I am at fault for paying my account late. WHAT?

If I pay the account after the due date, after the first of the month and before the month's due date how can I be late? I was told that I should probably think about automatic debit as a form of payment. They will then have days of interest since my bill won't be paid until just before the "due date." If I pay the bill after the due date but before THEY decide to run the statements, I am charged a late fee. I don't understand how that can be. If I chose to pay my bill after the due date I would be charged, there is no grace period for payment due dates. Basically I was told that I HAVE to make my payments in a 20-25 day window. After the 5th or 6th of the month but before the 28th. Isn't that interesting? I feel like they are intentionally trying to force late payment of accounts or payments closer to the due date in order to collect undue fees. What a RIP OFF.

Bank of America is unscrupulous in their practices. I hope everyone out there pays close attention to their accounts with BOA.

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Bank of America home retention

Please accept this letter as my official request for assistance due to hardship.

I have contacted my loan servicing provider about applying for the home stability plan however they state that the prongram details are still not available.

Unfortunately, I have ran out of time and my home has been sent for foreclosure the sale date appears to be May 21st. If I can not find a way to save my home me and my 3 children (15y & 2 eighteen month olds) will be homeless.

At the time when I purchased my home I had an 815 credit score. The reason I fell behind in my home payments is that after my return from Texas. I went into business for myself and In May 2007 my restaurant was closed due to financial and complications from my pregnancy. I gave birth to twin sons on 6/10/2007 and separated from my husband within a month of their birth. I later filed for a divorce on 8/05/2007 and all my primary sources of income were lost. I then return to work after a few weeks and due to a motorcycle accident my son Fernando Keith Rouzan fell off the Greater New Orleans Bridge and died after 5 hours of surgery on 2/09/2008. These events caused financial hardship as well as an unexplainable amount of sadness and grief.

At this time I have manage to pull my life together, returned to work and I am currently working two jobs to help maintain my household and save money. I do feel that I am ready to resume paying my house note although I can not afford to pay the back payments.

Any suggestions or help would be greatly appreciated.

Thanks,

[protected]@yahoo.com

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Update by Lisa
Apr 05, 2009 9:46 pm EDT

Thanks for your reply however I have been in my home since 2005 so this money is not available to me. From what I understand it's for pleople who purchased homes recently.

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Mercedes Castilla Leopold
,
Sep 15, 2008 2:44 pm EDT

I was today more than 2 hours over the phone and being transferred to several numbers and seems that nobody knows who is who.
If people that are trying to resolve their mtge. problems with their own bank can't get information properly, then I know why there are too many foreclosures or people going to short sales...
Unbelievable!

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identity theft victim
rokonkoma, US
Oct 28, 2009 1:09 pm EDT

they are the worst

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Advocate 4 the people
New Orleans, US
Apr 04, 2009 3:03 pm EDT

feel for you Lisa. Being from NOLA myself I fully understand what you’re going through. But I think you’re looking for a light at the end of the tunnel that just isn’t there. I hope that posting this is not the only action that you are taking to stop the loss of your home. I can tell you though that I deal with people that are losing their homes everyday and there is nothing you can do to stop it short of catching up your payments. I am assuming that you already did your taxes and took the $8000.00 credit available for first time homebuyers?

This is real money. It is a loan that you pay back little by little but right now you really have no choice. Did you do your taxes yet? If you did have you taken the credit?

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Bank of America refuse to relinquish accounts

Bank of America got control of four of our banking accounts by taking over MBNA; we would never willingly do business with B of A. Wrenching our money away from B of A has been the longest and most frustrating financial transactions we have ever encountered. B of A ignores all e-mail submitted through their website. Simply ignores it! B of A also ignores faxes, snail mail, and Certified Return Receipt snail mail! The latter is signed by "R. Jones" -- but nobody knew any "R. Jones" when I called to inquire why my instructions to close an account continued to be ignored. Beyond nervy! The only way you can communicate with B of A is on the phone -- which means verbally with no witnesses and no proof. So even though some fake first named B of A phone employee promised to close my account and wave the bogus penalties fees imposed after the account was ordered to be closed, today (months later after no statements or other communications) I receive a threatening notice from B of A saying that they plan to ruin our credit and lives if we don't pay the ever-increasing amount of bogus penalties plus interest on our long-closed empty bank account. Bank of America, I hate you.

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Bank of America closing accounts without prior notice

My boyfriend has had a cc through b of a for many years now and has never been late with a payment. Matter of fact it comes out automatically every month. And is always three times the size of the minimum due. They closed the account without prior notice and without a good reason. They said that we could always file a complaint but they stand behind ther decision to close the account. I honestly did'nt think that they could do that. So I went and talked with the branch manager and they said that they have the right to close the account at anytime without prior notice. I know that b of a is in financial stress but does that mean they have to put there customers there as well? I will never again as long as I live deal with b of a again.

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MAIZA
Miami, US
Mar 12, 2010 5:04 pm EST
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my father has a 820 credit score and had 4 credit cards for bank of america each for 15, 000 and 20, 000. and he would use it two or three times a year and he always liked to end the year with a zero balance. when the year started he would start using it again, and last year he used it once for 12, 000 to pay a down-payment for granddaughter and by September he paid it off . and on December he received new cards with new credit limits of 3, 000, and 2 of the cards 1, 000. and a letter stating they were reducing limit because lack of use. He then called bank of america and closed them. after he had closed them he received a bill for annual fee that is due on April. i am very dissatisfied with bank of america.

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Bank of America closed cc account without prior notice

My boyfriend and I have been loyal customers of b of a for years and have a platnum cc through them. We have always been on time with our payments and have always paid more than the required amount. I was looking on line to see our balance and to make sure that the payment was applied. I noticed that there was no available balance showing.. I then called b of a and they proceeded to tell me they closed the account. Why? They said they didn't need to give a reason. They had the right to close it if they needed. They told me to file a complaint if I so wanted but it would not change their decision to close the account. I will never deal with them on any level ever again.

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calcasieu
Leesville, US
Oct 27, 2009 5:07 pm EDT

They did the same to me. However, they had the nerve to tell me that I owed too much money and they were trying to keep me from getting further in debt. They know "nothing" about my financial situation or assets. Instead of basing their decision on my record with them and my credit score, they only looked at my debt. In the process, they hurt my credit score, because your score is based on debt vs available credit.

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9:26 am EDT
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The complaint has been investigated and resolved to the customer’s satisfaction.

Bank of America rip off!

My son is heading to USMC boot camp and opened an account with BofA so I can use to cover his bills while gone. He opened with $100, then used ATM on 3/24 to buy gas and a sandwich (total $27.41). He learned 3/31 that they charged 2 overdrafts, charged a $888, 888.88 withdrawal (?) and have closed his account. Didn't tell him until he did the research. Now, he's headed to boot camp on Sunday and his state and fed tax returns are to be deposited to this closed account. One more worry while in boot camp. A call to BofA - said they'd give him 30 seconds to state his issue. Are you kidding? Who does business like this?

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Bank of America Customer Reviews Overview

Bank of America is a well-known financial institution that has been serving customers for over 200 years. The bank offers a wide range of financial products and services, including checking and savings accounts, credit cards, loans, and investment options. Overall, Bank of America reviews are positive, with many customers praising the bank's convenience, customer service, and online banking features.

One of the most significant advantages of Bank of America is its extensive network of branches and ATMs. With over 4,000 branches and 16,000 ATMs across the country, customers can easily access their accounts and conduct transactions. Additionally, Bank of America's online and mobile banking platforms are user-friendly and offer a variety of features, such as mobile check deposit and bill pay.

Customers also appreciate Bank of America's customer service, with many reviewers noting that representatives are knowledgeable and helpful. The bank offers 24/7 customer support through its website, mobile app, and phone line.

Another positive aspect of Bank of America is its rewards program. The bank offers several credit cards with cashback rewards, travel rewards, and other benefits. Additionally, Bank of America's Preferred Rewards program offers additional benefits to customers who maintain a certain balance across their accounts.

While there are some negative reviews of Bank of America, most complaints are related to fees and charges. Some customers have reported high overdraft fees and other charges, which can be frustrating. However, Bank of America offers several ways to avoid fees, such as maintaining a minimum balance or setting up direct deposit.

Overall, Bank of America is a reputable financial institution with a wide range of products and services. With its extensive network of branches and ATMs, user-friendly online and mobile banking platforms, and helpful customer service, Bank of America is a solid choice for consumers looking for a reliable bank.

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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4. Detailing the experience: In the complaint description, provide a detailed account of your experience. Include key areas such as customer service interactions, problems with account management, loan servicing, fees or charges that were unexpected, issues with online banking, or any other specific incidents related to Bank of America. Clearly describe the nature of the issue, including dates, locations, and any relevant transaction details. If you attempted to resolve the issue, outline the steps you took and the responses received from Bank of America. Explain how this issue has personally affected you, such as financial loss or stress.

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Bank of America contacts

Phone numbers

+1 (800) 432-1000 +1 (800) 688-6086 More phone numbers

Website

www.bankofamerica.com

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