Bank of Americascam and abuse!

1
P Review updated:

I am a business owner... I applied for a business bank of america visa card... For money in money out use for customers paying by cash and repaying there purchase with a credit card... Never was late with payments paid the balance... But but... Bank of america visa never told me that they charge a daily interest rate and inhinded charges on top of there monthly interest rate... Which we were unaware of... After three years... $15, 000.00 dollars of interest was added on to the visa card... Can this be real... How can they get away with this robbery... We finally got a loan and closed the acct. And please be aware of this horrible company... I hope this helps people out there thinking about a credit card for there business...

Responses

  • Li
    lili Mar 13, 2008

    Please be smart and don’t open an account with any Bank of America in the US, THEY WILL STEAL YOUR MONEY. With the excuse of insufficient funds they will steal from you over and over again. They have taken from me around $500 in a matter of weeks. The checks I deposited took forever to clear.

    They have to be stopped!!!

    0 Votes
  • Kn
    Knarfage Mar 13, 2008

    For 3 checks, a totalling less than $35 dollars BofA has charged me over $100 in NSF charges. Even though the NSF''s were covered by a depositing payroll check within 12 hrs. And then for my ckng acct they charge me a monthly $20 maint fee. What is that. For a computer to monitor my acct I am getting a $20 charge. I am done with this bank first chance I get. And we've been with them for over 10 years! Thanks for screwing me over BofA!!! Oh, they did give me 1 NSF charge back "as a courtesy", well if you did one, then give me back to other 2, it's $70 of my money you took without notice you a-holes!!

    0 Votes
  • Ji
    jim happy Mar 18, 2008

    They scammed me to of over $250 they need to be shut down. Now they allow you to overdraft using your pin #, another way to charge $35 overdraft fees. SCAMSTERS!

    0 Votes
  • Valerie Apr 03, 2008

    This bank has gone to the wolves. They take advantage common people and give special treatment to even ILLEGALS. After banking with them for more than 12 yrs. They have taken advantage and were unwilling to compromise. They will take your money and charge you for doing. GET OUT WHILE YOU CAN!!!

    0 Votes
  • Ro
    robert kane May 08, 2008

    the interest rate on my line of credit overdraft is around 18 or 19%. I find this exorbitant! will BOA ever lower this rate or should I get an introductory credit card with very low introductory rates and pay off my balance. I've been a customer of BOA for over ten years and believe I warrant some courtesy.

    0 Votes
  • Ly
    Lynn May 15, 2008

    I noticed a check card (debit card) charge of $1.09 off my Bank of America account. Like everyone else I did an Internet search and found this complaint site. This is scary. I am calling BOA right now. If this is happening to this many people then the bank should know something fishy is going on.

    0 Votes
  • Fr
    frantzso Jun 04, 2008

    i don;t how and when thay took out money where my knowing I thought i bount something but i did't. I just want the money that took from my account please.

    0 Votes
  • Aa
    Aarika Frazier Jun 18, 2008

    Bank of America allowed a merchant to authorize $5700.00 worth of charges against my account. My account was credited "temporarily", re-debited, credited and thus debited again. I have had no luck in resolving this matter, after reporting this unathorized activity, to B of A, immediately. In efforts of resolving this matter, I have been treated rudly, passed around to several departments and had harassing phone convos with their representatives, of course not on a recorded line. Why they have not investigated the matter on my behalf, is a puzzle to me? However, I have received several calls from their overdraft dept. I have been dealing with this matter since August 07' and have no intentions of going away quietly. I have contacted the local police station regarding the merchant, wherein I have filed a complaint. I am diligent in continuing to fax B of A, so that I have a running file of events, and I will be filing a formal complaint with the Comptroller of the Currency, which is an Administrator of National Banks. Wish me luck because it's ovious that B of A SUCKS!

    0 Votes
  • Ca
    carol Jul 07, 2008

    You're lucky, I went from promotional rate of 1.99% to 20.24%. They seem to be pushing their Clean Sweep loan or bankruptcy services, not sure which. I am convinced that they are the most ethically challenged lender out there.

    Good Luck!

    0 Votes
  • Ro
    Roger & Debra Bonisolli Jul 11, 2008

    Bank of America illegally withdrew $470 from our Wells Fargo checking account because we were behind on our credit card payment to Bank of America.

    0 Votes
  • Ni
    nicole Jul 23, 2008

    The bank of America has gootten so greedy, it should not even be legal. How can they charge all those $35 per transaction fees on items priced less than$2 and get away with it. They make you wait forever to get your money by placing all kinds of hold, etc on your account, but they speedily post everyhitng the second they get a chance, then come back with some lame excuse that supports their thievery.

    0 Votes
  • Ja
    james campbell Jul 24, 2008

    Some one took $31.98 out of my checking account and I’m pissed you took it out with out my knowing what it is for so return it or else.

    0 Votes
  • Br
    Brown Aug 12, 2008

    Don't trust Bank of America. I can't tell anyone what bank they should do business with. Just be very aware of this Bank and do lots of research about this company.

    0 Votes
  • As
    A Swisky Aug 12, 2008

    Can you be more specific about your complaint or experience?

    0 Votes
  • Ca
    carole Woodard Sep 10, 2008

    Charging overdraft fees when they have already subtracted the money from your account for thepayment of the bill and many other problems that I have copies of from on-line banking where they are stealing my money. Very rude and nasty people when you call for an explanation.

    0 Votes
  • Ma
    matt mattioli Sep 12, 2008

    I checked my account and had no pending charges so I made a electronic deposit received receipt showed balance next day got overdraft charge with a balance over 400.

    0 Votes
  • Cr
    crazymonkeygoldSCAM Sep 19, 2008

    If you are behind they are going to...withdrawal..and get the money back in any means possible...I don't know how they could even do that, unless you somehow linked those two accounts together..or have not been paying for a while...

    0 Votes
  • Th
    THIEVES123 Sep 27, 2008

    Bank of America should really be called Crooks of America. Their industry made-up fees have really gotten out of control. I am looking at one of my many statements where finance charges were $211.30!! They say that when i first used the card that I was at 0% interest, and after reviewing my old statements, they lied. On one statement they charged me 1, 500 dollars for finanace charges. Hope they fold like chase did.

    0 Votes
  • Gr
    greg Oct 06, 2008

    Bank of America in Bayonne, NJ required they finger print me on the spot to cash a check since I did not have an account with them.
    "Open an account, " said the bank manager, and no finger prints.
    The teller actually placed an ink pad on the counter for me.

    I cashed the same check a few weeks ago, a state government unemployment check.

    I walked out and payed 2% at a check cashing agent.

    0 Votes
  • Aa
    aaron Oct 10, 2008

    bank of America is worst bank in the country. they are thieves. all they do is try to rework your transactions in a way that will send your account into overdraft. this practice is very criminal and its about time something is done about it. they charge $35 for an overdraft of $0.56. this is ridiculous. please help us. bank of America is pathetic.

    0 Votes
  • Cs
    C Smith Oct 13, 2008

    I called Bank of America to ask if I could lower my interest rates on my cards only to be told that 24.99% is a good rate and the only way to get a better one is to be a new customer. What? That's ridiculous! Two days later I called to see what my balance was only to find out that my cards had been closed! I have never been late and always make more than a min. payment! What is going on?

    0 Votes
  • Pe
    Pete Oct 13, 2008

    Unfortunately it is in the fine print. I too had several accounts with B.O.A. All were paid on time. I did not have high balances. They canceled them without notification. Oct 1st was the date they canceled them. It was just two weeks after receiving new cards that did not expire until 2010. Funny they still charged my annual fees on my statement I just received. Scary to think the top executives of B.O.A. will be meeting with the US treasury to finalize how my tax dollars will be spent to bail their a** out.

    0 Votes
  • Sa
    Santiago Oct 16, 2008

    I've had a credit card out with bank of america for over 2 years now and have never missed any payments but they won't lower my apr. A "Specialist" told me reason being that i only pay the minimum amount due which makes them think that im struggling! I've never been late on any of my payments in over 2 years and that is my reward. Ive never defaulted on any of my payments on anything for well over 3 and a half years. This is real bull.

    0 Votes
  • Ma
    Mari Oct 20, 2008

    I had a credit card out with Bank of America for over 2 1/2 years now and never missed any payments, I had a good credit history, paying off the credit card at the end of the month. I mailed my payment prior to the due date but it was not posted until one day after the due date and I was charge $39.00 finance charge. I called to get it credited and the Customer Service Manager stated that due to their policy they cannot refund the total amount because I was late. I told him that the payment was mailed on time, but they posted it one day later, he stated it is not the banks fault that the postal service is late delivering the mail they have their policies and must charge the late fee. This is very disappointing the same incident happened with USAA, but they credited the late charge because they realized the postal service problems and the check was posted one day late on their files, but the late fee was credited. I support 100% USAA they are customer friendly and work with the public.

    0 Votes
  • Fl
    florida Oct 23, 2008

    I called to determine why my account had a $1000 charge to MBNA. I was told I had written a check which I hadn't done. Late September, I received a Master card and checks urging me to use both accounts to pay off bills. I used one of the checks for my dentist. They returned my check and have closed my accounts. PLUS the chanrged $39.00 to return the check on my closed account. The only explanation their customer service can give me is check my credit report. I received a letter later in October stating they had reviewed my credit history and determined that I was no longer credit worthy. BUT if I would request it they would review my credit status. What kind of mumbo jumbo is this?
    I agree-it urkes me to think of the $10, 000 + I pay in taxes going to pay these guys out of the hole for their malfeasance. BUT what I predict will happen is they will use our tax dollars to buy out other institutions at low dollar ratios for assets while we continue to lose and continue to bail out other institutions. HOW can anyone who has used such poor judgment diem me or others not credit worthy. I have always paid them on time and paid in excess of my minimum payment.
    Our lawmakers need to open their eyes to what they are condoning or funding. I don't think it is the American public or worker.

    0 Votes
  • Valerie Oct 27, 2008

    Bank of America just raised my APR on my credit card, even after I received a letter stating that my APR will be unchanged, unless I use my card.

    I didn't use my card, and still got my APR raised.

    0 Votes
  • Ta
    TakenByBoAtoo Oct 31, 2008

    I am on my second BIG BEEF about B of A trying to "steal" my money ! The first time, when the IRS sent them a 'INTENT to Levy', (also a scam "to WANT/not Take" your tax money from various entities). B of A TOOK THE MONEY ANYWAY & CREDIT LINE CHK$$$ (IE; NOT MY money, but credit line 'LOAN-U' money>in case of ov-drft). Why give IRS credit line money, unless THIEVES??? (ps; the next day, IRS rescended every penny via fax)
    Secondly; I recently bought into a internet advert. co. that was making us "little people money"!!! (The govt steps in, freezes $93 mill., calls the net co. a "Ponzi" & now in fed court). Now a legal battle to GET $$$ BACK...
    $$$93 million US Money, ALL held in B of A, " FROZEN/HELD" in a B off A acc. while the US Govt. "investigates" the internet co...
    Geeeeee; what a coincidence during a time that banks are failing!!!

    0 Votes
  • Ta
    TakenByBoAtoo Oct 31, 2008

    B of A took over a very STRONG & PROFITABLE Nevada Bank... Then began cutting jobs & benefits from day one. Within one year, I was 'promoted, employee of the month then in less than 30 days, fired'... Go figure. How can a company incorporate "America" in it unless it has "our interests" in mind.

    0 Votes
  • Kr
    Kristen Greenbecker Nov 01, 2008

    I agree, they charged me six overdraft fees when according to my statements i was never overdrawn. When I went to talk to them they told me there was nothing they could do, that according to their system i was overdrawn yet I have no access to this information and they never made it available to me.

    0 Votes
  • D
    D Nov 19, 2008

    I CALLED BANK OF AMERICA TODAY AN REQUESTED A RATE DECREASE AS I HAVE BEEN DISABLED FOR AWHILE. NOTE...I HAVE BEEN MAKING MY PAYMENTS ON TIME. I JUST WANTED TO GET THIS CARD PAID OFF...ANYWAY AFTER BEING PUT ON HOLD I WAS TOLD THAT THEY WERE CLOSING MY ACCOUNT ! I ASKED WHY AS I ONLY ASKED FOR A INTEREST RATE DECREASE.HE SAID SINCE MY INCOME WAS LESS NOW THEY WERE CLOSING IT...WOW...I WILL NEVER USE THIS COMPANY FOR ANYTHING...

    0 Votes
  • An
    Ann Nov 20, 2008

    There should be a law firm willing to help people with this same problem. Bank of America has the ability to change the information in any account on a day-to-day base. They FROZE my daughter’s account for a cash deposit that included a check for 17.00. the cash would have avoided the overdraft but the bank froze the whole deposit for that check and she got overdraft fees for up to 350.00.
    I haven’t found a law firm willing to look this up. The Bank does as it pleases with everyone’s monies.

    0 Votes
  • Ta
    Tanya Nov 22, 2008

    Risk managment closed my account and won't send me the money even when I say I need it asap and all they wil do is send a cashiers check in a month probably. I am on hold currently with a manager of the department and its taking about an hour and no one yet. If anyone has any ideas I'd appreciate it

    0 Votes
  • An
    ANONYMOUS Nov 26, 2008

    what's the big deal about putting your finger print on the check? I don't see how that is something to complain about! might as well complain that you have to sign it and show ID too!

    0 Votes
  • La
    Lakisheia Womble Nov 26, 2008

    i had a auto loan in 2004 and the account is close but it still on my credit report and its a hit against me

    0 Votes
  • Valerie Dec 02, 2008

    In short, I've decided this morning to move forward with the acceptance of the agreement despite feeling extremely disappointed. It's the only way I can move forward in this situation. It is only for a year and at that time I will get my money back, but trust me I have learned a lot about the experience and going forward I will know that no one has your best 'interest' at mind except literally the bank.

    0 Votes
  • Un
    unhappy Bofamerica custome Dec 22, 2008

    I just got off the phone with Bank of America's customer service. They placed a deposit hold on my account.After being on the phone for 45 min.no one could tell me why the hold was placed. How come ...??? They placed the hold they should know. All I know is that I have checks that I wrote and they will post to my account and now due to the "deposit hold" im will probably end up being charged overdraft protection fees. Someone please leade me to the right direction, I want to complain to someone who can investigate this bank further more...

    0 Votes
  • Ci
    CindyHuddleston Dec 29, 2008

    I am looking for people interested in starting class action against BofA. I have an attorney who is interested if I can drum up the business. Your complaint sounds similar to mine. Call me if you would like to talk about it. 541-297-2421.

    0 Votes
  • Hj
    HJm Jan 09, 2009

    They say that my wife was late on a payment, we have proof that we paid it on time, yet our interest went from 9.9 % to 22 %, payment from $203.00 to over $600.00 we have always paid our credit cards on time. See how the Bank of America treats people, Everyone stuggling to do whats right, They got there money from our Gov. now what.
    Jack Raleigh NC

    0 Votes
  • Jo
    Joe Feb 01, 2009

    Thank you for listing your complaint. I am experiencing the same problem. Interest rate at 9.9 and Bank of America raised it to 22% without notice and without missing any payments. I contacted them and the person on the phone told me that they raised it and there is nothing I can do. Very rude attitude. Yes, we are supporting the bank with government funding (taxes) and they are abusing their customers. I borrowed the money with the understanding the interest rate is 9.9 percent and they received a statement that was more than double the regular payment. This is not right. I am taking the needed steps to get away from Bank of America.

    0 Votes
  • Ma
    mauimel16 Feb 05, 2009

    BANK OF AMERICA IS NOT BETTER THAN WELLS FARGO...THEY RIP YOU OFF BIG TIME...DID YOU GUYS KNOW THAT BANK OF AMERICA MAKES A LOT OF MONEY WHEN WE USE OUR VISA CHECK CARD RATHER THAN THROUGH THE ATM SYSTEM...YUP THEY DO...I USED TO WORK FOR BANK OF AMERICA FOR 7 YEARS AND MY BOSS WOULD ALWAYS TELL US TO KEEP USING OUR CHECK CARD THROUGH THE VISA SYSTEM SO THE COMPANY WILL MAKE MORE MONEY...THINK OF HOW MANY PEOPLE HAVE BANK OF AMERICA VISA CHECK CARD...THINK OF HOW MUCH MONEY THEY WILL LOSE IF ALL OF THESE PEOPLE DON'T USE THEIR VISA CHECK CARD AS CREDIT...IN JUST ONE DAY, PROBABLY HUNDREDS OF DOLLARS OR SO...SO DON'T USE YOUR CHECK CARD AS CREDIT...!!!

    0 Votes

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