Menu
Bank of America
Bank of America Customer Service Phone, Email, Contacts

Bank of America
reviews & complaints

www.bankofamerica.com
www.bankofamerica.com

Learn how the rating is calculated

4.0 4572 Reviews

Bank of America Complaints Summary

457 Resolved
1108 Unresolved
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.
Verified
The authenticity of the customer service contact information for Bank of America has been meticulously verified by representatives from ComplaintsBoard using our proprietary verification system.
Get notifications about new complaints and reviews of Bank of America. We promise not to send you any unrelated messages.
Share
Claim Your Business
Take control of your profile: address complaints and engage with reviews
Write a review File a complaint

Bank of America reviews & complaints 1584

Filter reviews by rating
5
2995 reviews
4
0 review
3
2 reviews
2
0 review
1
10 reviews
Sort by:

Newest Bank of America reviews & complaints

ComplaintsBoard
A
1:11 pm EDT

Bank of America over charge

I have credit card with bank of america for over 15 years. Recently, they gave me apr of %8.00, and charged me annul fee of 18.00, I continue to make my payment, I noticed that the payments I am making never goes for that $18.00, now the $18.00 is $48.00 and that is because thy are charging %18.99 on the annul fees. So I called, and told them I like to pay the annul fee in cash and do not want to finance the annul fee, but thy told me you can not do that. Which means the $18.00 which is now $48.00" because of high interest" will continue to go up even when I offer to pay the annul fee in cash.
That means they are forcing me to pay interest on the amount that I do not want to borrow or finance?!
Do you think that is fare even if the law allow them?

Read full review of Bank of America
Hide full review
ComplaintsBoard
V
6:35 pm EDT

Bank of America predatory lending

TO: WHOM IT MAY CONCERN

FROM: VICKI MILLER

RE: COUNTRYWIDE HOME LOANS PREDATORY LENDING

I, like hundreds of other Americans, have a story to tell about the horrible and unethical business practices of Countrywide Home Loans. First, may I say that I have been a honest, hardworking, tax paying American for over 36 years. I am a single parent. I had purchased the home which I was raised upon the passing of my mother. This is the home where I, also have raised my son. So, this is more than just a house to me. It is our home and our foundation.

I originally got involved with Countrywide when they purchased my mortgage (unknown to me) by a mortgage company that was already under investigation, Ameriquest. At which time, I had never even been late with a house payment. After a year or so with Countrywide, they began to pursue me to refinance my original mortgage. They called me, mailed letters to me, and emailed me stating that I had over $24, 818.00 in equity in my home and they were offering me a “no closing cost”, “no appraisal fee”, “no hidden fees” etc. refinance loan. After several months of their persistence, I agreed to go ahead and refinance with the intention of borrowing $5, 000 from my equity to put in some energy efficient windows in my home. (As it is an older home, and living in PA, the cost of fuel is very expensive). Thus, not only conserving energy and saving on my fuel bills, but also improving the investment of my home. I agreed to refinance in Sept. 2005.

Initially, I was sent preliminary papers. The horror begins Oct.2005 when a notary comes to my place of my employment for closing with a COMPLETELY DIFFERENT SET OF DOCUMENTS? Ofcourse, I was completely offguard. There I was, at work, with no privacy, confused at the loan papers, I immediately asked the closing agent what was going on? He told me he was just a courier they hired to get me to sign the papers. He rushed me and assured me there would surely be a resolution. Not only were they a completely different set of papers and loan amounts that I was previously sent, but I did not get ONE CENT at closing to put in my windows and they had used up MY ENTIRE AMOUNT OF EQUITY! Being bewildered, rushed and not being mortgage smart, I signed, under duress! I am an honest, trusting Christian woman who would never have thought something like this would happen to me. I was wrong! I immediately went to the phone and began calling Countrywide.. I briefly got to spoke to the representative from their Full Spectrum Lending Div., who told me that they paid off a HUD loan I had taken out (to put a new roof on) and the rest was countrywide fees.He assured me that someone from Countrywide would call me and go over it all in detail with me. Guess what? I never heard from them again!

Remember the promise about no fees? What false advertising that was! Not to mention, don’t you think they should have advised me of the paying off the loan to Domestic bank and all of the loan changes and higher interest rate and fees than they first disclosed to me in advance? I was not notified ahead of time about any of this or I would have not refinanced! As, the only reason I left them persuade me was to take advantage of the low interest rates, no costs and to take advantage of taking some of my equity to put in the new windows! Had I been sent the revised loan papers ahead of time, I would have never agreed! I asked all kind of questions and was told someone would call me and explain everything to me. That never happened! I persistently called them, only to be passed around from one person to another. Never getting to talk to the same person twice! I wrote to them, I faxed them, I emailed them, on many occasions. Never did they even have the courtesy to explain anything to me! Is this how you run an HONEST business? To take advantage of people and not have any respect or customer service? If they had done nothing wrong, why didn’t they address the situation? I have kept copies of many of my letters and emails, Both from them pursuing me to refinance, and my letters to them asking for explanations as to why they did this to me? I also have several sets of legal documents. Some, I actually have 3 sets of the same papers with completely different amounts on them? Ofcourse, different interest rates then originally promised as well.

I have 3 different “Schedule of Real Estate Owned” with 3 different payoff amounts?

One set listed my payoff for my original Countrywide mtg. as $59, 624 and the pay off to Domestic Bank for my HUD loan as $13, 867. Another one said my payoff to Ctrywide. Was $62, 855.74 & Domestic Bank was $14, 078 on my “Settlement Statement”? So, I ended up with a sub-prime mortgage that ended up for $81, 830 @ 8.25 (another document says 8.75%?) with ZERO money received at closing. AND ALL OF MY HOMES EQUITY WAS GONE!

I have 2 different “Truth in lendingstatements” with different amounts, even the “final” one said amount financed was to be $78, 125.45, but my “Note” is for $81, 830? I have 3 different copies of “Assets and Liabilities”with 3 different amounts., 2 different “Settlement Statements”, 2 different “Amortization Schedules” Nothing, that matches or makes any sense to me? I wasn’t aware of the thieves they were until this happened to me! Ofcourse, making my payments much higher! But, I never gave up on trying to get some resolution. I didn’t know about their “Bait and Switch” schemes.

I felt I was taken advantage of, promised one thing and given another. I did sign the papers, but again, under duress! And immediately seeked explanations and help from them. But got nowhere! Now that I hear of all of the sub-prime mortgage mess, I am sure I was a victim of predatory lending! Every time I called Countrywide, I NEVER got to talk to the same person twice, I kept getting passed around, having to repeat my story over and over only to be told to call another phone #, etc. And I have proof of many letters and emails I sent to them asking why?

Not only that, but on several occasions they tried to charge me for home owners insurance, which they knew I already had privately, Again, I was given the run around, with the right hand not knowing what the left was doing. I even had my insurance agent call and fax them. I finally got it resolved, only to have it happen again!

To make matters worse, last year I was burdened with the care of a sick family member. I called Countrywide several times to explain in effort to be able to work something out, only to be treated with total disrespect! So, they tried to foreclose on me! Now, they said that “The Bank of New York” was the note holder of my mortgage? I never knew about that either. So were they also a victim of Countrywides illegal practices, or were they too, part of the scheme of things? On one occasion, I spoke to a representative named Brian Keller, who told me I would have to refinance at $150, 000.00? Now, if my home was only worth $85, 000 (at that time) and I was already up to the limit and having problems managing those payments, how would I ever do that? It didn’t make any sense?

I met with a local legal attorney, who agreed that my loan documents looked suspicious. She tried to contact Countrywide, but also found that she understands my frustration as there is no possibility of continuity and no specific person with whom to work with.

I was so distraught that I was going to lose our home., I went to a private attorney. Atty. Shawn Sullivan, of Altoona, PA. He agreed that I was definitely a victim of predatory lending and consumer fraud. He was able to get me into a “work-out” program to avoid foreclosure, but this ended costing me an additional $10, 886.82, plus attorney fees and a title search! Talk about kicking one when they are down! Mr. Sullivan and his colleagues advised me to seek help from the PA Atty.Generals Office. Since, I do not have the resources to pay a private attorney.

I did write to them. I was assigned a file #F-[protected]. my case was assigned to a office in State College, PA. I just found out this week that they cant help me? A girl named Lauren called me and said that “ why did I sign the papers? I had plenty of time to look them over prior to signing.(this is what Countrywide is using as a defense), “ Did she not even read my complaint? Yes, I did receive papers ahead of time, BUT, THEY WERE NOT THE DOCUMENTS I WAS FORCED TO SIGN AT CLOSING’ Again, bait and switch! I cant believe Countrywide is using as a defense that I had plenty of time to read the papers and ask questions! Sure, I had a whole 5 minutes to read and sign the ACTUAL PAPERS! And I DID ASK QUESTIONS! I JUST NEVER GOT ANSWERS!

But, being a trusting person, I felt sure this type of thing didn’t happen in our great country! I also didn’t really know that my HUD loan was considered a lein on my home. As again, I was not mortgage smart. If I knew then what I do now, I would have had a realitor or banker look it over. Again, I was completely under the assumption that the original loan papers sent too me ahead of time is what was going to take place. There was no other changed documents sent to me ahead of time to go over, or I would have NOT went thru with it. They knew what they were doing. This way, they caught me off guard, promised me one thing, then switching at the last minute! They should have sent me the “revised loan documents” explaining everything, ahead of time to look over (just like they did the preliminary documents) . THEY CHOSE NOT TO DO SO BECAUSE THEY KNEW ONCE I SAW THE OUTRAGEOUS FEES AND INTEREST RATES AND UNAPPROVED CHANGES, I WOULD HAVE CHANGED MY MIND.! They knew exactly what they were doing, and it was not the first time they did this to an honest consumer. How dare they use the excuse that I had plenty of time to go over the papers? Sure I did, THE FALSE ONES! And to respond by saying I had time to ask questions….what do you think I had tried to do for so long? Call after call, letter after letter, emails and faxes! I have copies! NOT ONCE DID THEY RESPOND! WHY? Because they knew they were involved in predatory lending practices! I will not accept this as a legitimate or legal reason. And if our government agrees that they did right by me, then will be very disappointed in what our country stands for. “We the people, For the people”? Which people, just the wealthy corp.giants? And the hardworking taxpayers are nothing?

After searching on the intranet, I have found hundreds of dissatisfied Countrywide customers. With more horror stories, very similar to mine, many exactly the same! There is actually a website :www.countrywidehomeloansucks.com. Read some of the stories of not only their predatory lending practices, but stories from employees who admit they were expected to do wrong by their customers. Even mortgage brokers with stories about how they (Countrywide) were dishonest, padded finance fees, have an “invincible” approach to business and they don’t care or are not concerned how they treat their customers with disrespect.

Even Barack Obama has a poor opinion of Countrywide. Stating” All across this country, we’ve seen how its becoming harder and harder for working families to make ends meet..For too long, the rules in our ecomony have been written to benefit Wall Street at the expense of Main Street. We saw this again today when we learned that two executives at Countrywide, are set to walk away with $2 million in payouts. This is an outrage. Top mortgage lenders spend $185 million in recent years lobbying Washington to look the other way, while they tricked American families forcing millions of Americans to face foreclosure and pushing our economy into a recession. We should be reprimanding them, not rewarding them. “ (March 30, 2008)

I was under the impression that our governing bodies were here to protect us as consumers. Apparently, I was wrong. They keep a blind eye on these illegal actions, while hard working American taxpayers cant make ends meet. Like myself, most people cant afford to hire a private attorney. This large corporate giant is tearing down American families and The American Dream one at a time. I cant believe our judicial system would allow this to continue. Countrywide is the ENRON of the real-estate industry!

“We clearly are concerned about predatory lending” said Heather Tyler, spokeswoman for the PA Dept. Of Banking. A study released last year commissioned by the banking dept, concluded that predatory lending practices were the major reason that Pennsylvania had one of the highest rates of home foreclosures in the country. According to PA Banking Sec., Bill Schenck, PA ranks 4th in the nation for sub-prime mortgage foreclosures .

I cannot tell you how disappointed I am that The PA Attorney Generals Office, with whom I had the upmost respect in the wonderful job they are doing in dealing with the drug problem in our communities, can do nothing to help me? Laura said I could file a law suit on my own, but unfortunately, I cant afford one! I expected the same laws that would prevent and prosecute “ME” from stealing, would also use my tax dollars to pursue the companies stealing from the consumers. I know had I stolen, I would expect to make restitution to my victim, as well as pay the penalty of the crime. Not only by the law that was created to protect me, but also my God, who is the final judge.

I do not feel what Countrywide did was right. They misled me with false advertising and false promises. THEY pursued ME. They should be held accountable! I cant believe their defense is that I signed the papers, yes, I did, but under duress! And again, as included in all of the 55 pages I originally sent the Atty. Generals Office, I was given a different set of papers to preview, and the first time I saw the papers I signed was at the closing, being rushed by their dishonest courier, at my place of employment! This too, is common practice for Countrywide. Many states have class action suits against them.

I feel I was not given the proper attention in dealing with this matter by our Atty.Generals Office branch in State College, PA. I would ask them to assign my case to another branch office. I do not know where to turn!

Not only am I having a hard time making ends meet, but all of this stress and worrying has also affected my health. I am now under a doctors care for depression and nerves, taking medication and also weekly see a therapist. This also hurts my income.

I do not intend to let this drop. I am VERY disappointed that our states top attorney isn’t interested enough to have someone more qualified to look into this. I have had several local attorneys and bankers tell me that I was definitely a victim of predatory lending! I just cant afford to hire a private attorney !

I intend to forward this letter to our states representatives, The Hud office of Inspector General in Washington DC, the Bureau of consumer affairs, The US Attorneys Office, The Center for Responsible Lending, Pennsylvania Human Relations Commission, PA statewide task force on predatory lending, The National Consumer Law Center, National Consumer Advocates, Fannie Mae, Freddie Mac, National Assoc.of Mtg.Brokers, The American Bar Assoc., PA Dept. of Banking, National Home Equity Mtg.Assoc. PCCA, National Conference of State legislatures….Everyone I can find who will take the time and interest in just one honest persons right to The American Dream being taken away from her. Coutrywide should receive cease and desist orders and pay back monies owed to each and every individual they cheated. Is it true they pay lawmakers to take a back seat and turn the other way? I, myself, being a proud hardworking American citizen, cant believe that. I refuse to believe that all of our lawmakers and departments will sit back and allow this to continue. Do they realize how hard it is to be a single working parent, living from paycheck to paycheck, paid taxes for over 36 years, never took a cent from welfare, and now cant afford to send her graduating son to college due to her only savings and equity being stolen by a corrupt corp.giant? My son, who is a good, honest,

Christian boy, has been accepted to Penn State, where he dreams of becoming an elementary school teacher, and I cant get the funds to send him! My credit is ruined, my money is gone. What would you do? As a Christian, I always was taught to “turn the other cheek”, but not in a case like this. I also believe in the Constitution and The American Dream of hard work, paying taxes, and be a law abiding citizen. All of these values I have installed in my son.

I hope and pray, that someone that I contact will find it in good conscience to do what is right and look into this. If I need to file suit, to whom do I turn? Please, someone, put yourselves in my position, what would you do?

As of now, I can only continue to forward this letter to anyone and everyone who will listen. As I stated earlier, I have ALL of the documentation to support my claim.I have copies of letters Countrywide pursued me to refinance stating the amount of equity I had at the time. Copies of many letters I wrote to Countrywide in effort to resolve on my own, and ofocurse, several copies of unmatching legal documents!

It is with sincere thanks and respect that someone will respond to my plea for help.

Not losing trust in MY government,

Vicki M. Miller

Read full review of Bank of America and 3 comments
Hide full review
3 comments
Add a comment
A
A
A. Thornton
,
Aug 16, 2008 10:13 pm EDT

Vicki,

I forgot to sign my name in the above post,

A. Thornton

A
A
A. Thornton
,
Aug 16, 2008 10:11 pm EDT

Ms. Miller,

I'm not a lawyer by any means, however, I do want to reach out to you and help you however I can. First, let me say that I agree with your complaints regarding Countrywide's criminal and unethical practices. We also, have been financially damaged by them. To name a few, they did a classic bait and switch to our refinance loan; we were promised in writing a credit come back loan, yet we found out after the fact that they locked us into a sub prime 2 year hybrid libor adjustable rate loan, they falsified information on documents, did not provide us with a copy of a good faith estimate and truth in lending prior to closing, several inconsistencies between the loan application and the final documents, draggin the refinance over a 4 month period despite me providing all the documentation that they require at the first visit, pulling 4 "hard" credit reports as a result of their dragging their feet, lost payment. They also verbally promised us that we could refinance to a better loan at a fixed rate 6 months from refinancing. We received harassing phone calls several times during the day and night, even on Sunday mornings saying that we were late on payments despite me holding copies of my receipts and canceled checks written out to them. And the list goes on...

I refused to tolerate their abuse and took matters into my own hands when customer service started to give me the run around. I filed complaints and sent in all the required documents with the Office of the President (Countrywide), Federal Trade Commission, New Mexico State Attorney General Office, and the New Mexico State Licensing and Regulation for Financial Institution's departments. I also went personally to see CEO of my local credit union and also with the mortgage specialist at my local bank with all my documents to see about refinancing with them and bring my loan local.

Something that is not made public is that magical number [protected]/[protected] ext. 6441. I raised hell and demanded to speak to the CEO. Of course he's always busy, so I was passed off to one of the first vice-presidents. He told me that either he would try to get help for me through the Work-Out program, or try to refinance. Because this process is taking too long to resolve, it prompted me to file complaints with the other law agencies.

I have not heard back from the FTC to date. When I spoke with the NMAg, they were very interested in my complaint and stated that they have received several complaints against Countrywide and other lending institutions regarding predatory lending practices. I was dissatisfied with the response from the regulations department and was advised from the NMAg's office to send in an amended complaint with additional documents. I was referred to a couple of law firms in Santa Fe. Both of them wanted to take the case, however, they wanted a retainer of $4500.00. I had to pass it up since I cannot provide the retainer due to financial setbacks recently.

The CEO and mortgage specialist both reviewed all my documents and first advised me that they are not lawyers and cannot give legal advise. However, they also agreed that there were several inconsistencies with all my documents, clear evidence of predatory lending that are violations of lending laws. I am forever grateful for these two individuals that are trying to help me out of this mess.

If I were you, do the following:
1. Go to your bank and/or credit union and let a mortgage specialist review your documents to look for inconsistencies and violations.

2. File an amended complaint with your AG's office, Countrywide's Office of the President, Janis Allen, 6400 Legacy Drive PTX-320, Plano, TX 75024.

3. If you type in the Google search engine "Countrywide complaints, lawsuits, " etc, you will see that there are several states such as California, Florida, New York, Illinois, Virginia, that their AG has filed class action lawsuits. See if there is one in your state and if so, get in contact with the law firm that is doing it.

I hope this helps. Keep your chin up. Know that you are in my prayers and good thoughts.

V
V
Veronica, NEPA
,
Jul 12, 2008 8:27 am EDT

Vicki,
I feel deeply for your situation, and agree that Countrywide is guilty of many unethical or illegal business practices. Unfortunately for the common American citizen, seeking legal help is not an option when one is doing all that they possibly can as it is to keep up with the mortgage payments. Paying an attorney is not an option.
My husband and I purchased our home in PA back in Nov. 2006. We were first time buyers, and had credit issued in the past. The most severe was a prior bankruptcy. We had managed to raise our credit scores to an decent level, but still hindered by this. We looked into buying a home, and were told that we could qualify even with a bankruptcy. Long story short, we left the NY area into PA ecuase housing and taxes were lower, but could still commute to work. The bank that we dealt with was Sterling National, and everything was done via the phone, fax, or e-mail. Countless documents were signed and filled out up to the day of our closing. We knew that we were going in at higher interest rates due to our tarnished credit, but were told that we could refinance after a year if we remained current on payments. Without tax and ins. included, we were paying $1300.00 per month.
To make a long story short, everything was fine for about 6 months. Then my husband was in a car accident, and totalled hi car. I tried to commute both of us to work, which lasted about a week. He worked in NY, and I worked in Scranton. I was driving about 400 miles a day to get uus to/from work, and the kids were left home alone. I quit my job, and began to searech for a cheap car to purchase. This took about a month, and then I had to look for a job. I found one as a school bus driver, which I had done before, buit the hours were insufficient, so the money coming in was barely paying for gas, utilities, and food.
We fell behind, and would make partial payments so that at least something was being sent. We applied for assistance with PA, which meant going through consumer counseling and an application to request a loan to get us back on our feet. They denied us, as did Countrywide for any sort of assistance. We would get letters saying that they can help, but when you call, are told that credit is shot due to late payments and that nothing can be done. We were told to apply for loan modification, workout, etc. All of the forms get sent, letters written, and then nothing is sent to confirm or deny the assistance. We wre then told that we are in pre-foreclosure.
I finally managed to get into a loan modification program where our monthly payment on our primary loan would increase by about 25.00 and they would bring us current. In teh meantime, a co-worker lent us 4000.00 to catch up, and we had to pay it back with our income tax refunds. I am glad to say that for the last 3 months, we have been current on our primary loan, and only one month behind on our secondary. That is until this month, when they wer finally both paid on time together, no thanks to Countrywide. They take too long to respond, and are too quick to deny.
While looking at my account online, I was startled to see that my June payment, initially recieved on 6/9, was reversed. I have until the 15th to pay before considered delinquent. This payment was then reapplied on 6/30, for less than what I paid, since I sent in an additional 20.00 to go to principal. Then my new statement dsays that I owe a 52.00 late fee. The same happened with my secondary loan. I made the payment, it was reversed, and then reallpied for loan amount, not what I paid. I called several tiomes, was told that I would be transferred, and then disconnected.
Finally spoke to someone in loan modification, who said that this is normal internal procedure, and that no, my payment was not late, to disregard new statement becuase it genertaed before issue internally corrected. I do not belive them, told them so, and afriad that this will not be properly reflected within my credit report. I think they are lying, and do not know what to do. They went back all the way to my March payments. On June 30, all payments on both accts. from March until June were reversed, and then reapplied, but only at the loan amount, not additional dollars that I paid. I do not see why this would be done, and fear that this is unethical or illegal in some way. I was then told by the last person that I spoke with that I had been charged an inspection fee, for every time someone supposedly drove past my property to see if occupied or in good shape while behind. On top of that, I was charged 300.00 for an appraisal fee. I asked then if it is legal to charge these amounts without notifying the consumer, either in writing or verbally, and he never gave me a response. I am sure that they could have checked with utility company to see if services were on, and I have told them so in all phone conversations. If anything can be done, or if advice can be given about these charges, I would greatly appreciate.

My final thoughts are that I hope that anyone falling behind is somehow able to make it through an dnot lose their home. I know how stressful it is on the entire household, and how easy it is to become discouraged. My family would not even lend me a hand, and it was the kind gesture of a co-worker that pulled us through. I think that otherwise Countrywide could have started the foreclosure proceddings, and we would not have been able to bail out of this mess. I just hope that I will somehow be able to refinance successfully without further digging myself into a hole, since one of our loans are due to be modified in Dec.
Good luck to everyone..

ComplaintsBoard
R
7:34 am EDT

Bank of America rewards points transfer scam

If you think that you can combine points from various credit card accounts in order to build up your total points... BEWARE! Like many others, I thought I had enough points to book two round trip tickets last summer for my wife and I. I was shocked to find that it was somehow going to take 120, 000 points and $328 cash. How is this possible, I wondered? Well I gave that idea up and just purchased the tickets. A few months later I noticed the "Transfer Points" link on the rewards home page. " Great, here is a way to get enough points if we decide to go somewhere" I thought.

This is what it says: "More points equal greater rewards. If you have more than one rewards account, you may be able to combine your points for better rewards or even share your points with friends and family. Now, the flexibility of transferring points makes rewards even better."

What it doesn't say is that is a scam to make your points expire in 90 days instead five years. There is a disclaimer not at the beginning of the process or in the middle of the process, but at the very end, as you are clicking to transfer the points. It says "these points will expire on... and a date (which is 90 days from that moment -- if you're paying close enough attention)"

I guess I'm just stupid, because I didn't do the math or pay that much attention to the actual date, because after all in the "FAQ" and Rules sections it says that points expire five years from date earned, with no disclaimer that says "Unless you transfer them, then it's 90 days".

Here's the bottom line: You have 90 days to use these points, and if you do not, they are gone forever. I have been trying to get them back for five months and was told today that nobody on the face of the earth can restore them, because I requested the transfer. I've cashed out all my points on three my cards on some junky merchandise and closed them out. I have also closed my business, personal, and merchant accounts with BOA. It is a first class pain in the neck, and I never got my 30, 000 points back, but I somehow feel slightly better. I hope BOA misses me, but I doubt it.

Read full review of Bank of America and 5 comments
Hide full review
5 comments
Add a comment
L
L
ladonn
Baltimore, US
Sep 25, 2014 5:08 pm EDT

I have been a customer of Bank of America for over 20 years. (rewards card for 10years) I was saving my rewards points hoping to get a great vacation. When I received my rewards card it was never told to me that points expire. I was never told that there were rules associated with the points. After trying to find out how close I was to getting the ultimate vacation I find out that I have been losing points for years. called Bank of America hoping that being a loyal customer all these years would count for something. The associate said that they did not make those decisions but would put in a request to the department that does.

I receive my letter in a couple of weeks that was essentially a NO. You would think being a loyal customer would stand for

something! I would normally whip out my card regularly...not now...I am considering closing out my account with BOA account altogether. I am definitely looking into another card. Do they really think anyone in there right mind would let money go down the drain...smh...

Bank of America is not loyal!

L
L
lookup
, US
Jul 13, 2014 7:11 pm EDT

I’m a beginner with accumulating and using (rewards) points. Nevertheless, I must say that my recent experience with redeeming points earn under BankAmericard Travel Rewards left me with a bill of several hundred dollars. I was saddled with this expense -- despite spending approximately 2 hours on the telephone and on-line chat-assistance prior to implementing the transaction to use the points. The information provided by the BankAmericard Travel Rewards chat-assistant, relative to the process of how to redeem earned points, was time consuming and complicated at best, because the chat-assistant was unable to and not familiar enough with the travel rewards process to immediately answer basic procedural questions. Plus the telephone assistance provided/received relative to the dollar-value of earned points was entirely incorrect.

The BankAmericard Travel Rewards Program is complicated, confusing and the only party negatively (financial) impacted from the confusion is the consumer. In this instant -- me.

D
D
djmycool
san antonio, US
Jun 13, 2013 12:54 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

the same just happen to me and they have announced they changed it back to five years but I missed the cut off date by 1 week I hate BOF

B
B
BOA SUCKS
DALLAS, US
Mar 19, 2013 6:07 pm EDT

I HATE BANK OF AMERICA! DID THE SAME THING TO ME, EXCEPT I HAD AN EMPLOYEE TRANSFER MY POINTS OVER THE PHONE AND THIS DISCLOSURE WAS NEVER READ TO ME! IT'S MARCH OF 2013 AND THEY STILL DO NOT INCLUDE THIS NOTICE IN THEIR TERMS AND CONDITIONS! CLASS ACTION LAW SUIT IS IN ORDER! THIS BANK USED TO CARE ABOUT ITS MEMBERS AND NOW THEY WASTE YOUR TIME IN AN EFFORT TO STEAL A FEW DOLLARS FROM LONG TERM CUSTOMERS! I HATE BANK OF AMERICA!

O
O
ouknow1
549 kenora Dr., US
Apr 19, 2010 5:10 am EDT

Anyone else have a credit card that offers reward a round trip flight 25, 000 points anywhere in the continetal US then when you want to redeem it they tell you its 36, 000, 43, 300, 50, ooo or even 56, 432? Anyone want to form a lawsuit?

ComplaintsBoard
B
6:56 pm EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Bank of America nsf, transfer fees, hidden which tricking consumers fees

First of all, Customer service including the Branch staffs members are extremely RUDE! Banks has fair statement on "Same Day Transaction" except Bank Of America (BOA). Bank Of America do operate on "how much can we get ripe off because we are a big bank". So, if you have to deposit and withdraw money and say: withdraw first and then deposit second even within a couple minute away, BE SURE that BOA will charge you NSF (or) Overdraft FEE. By asking that it is the same day transaction will surely be treated with insult and humiliation. EVEN THE BRANCH STAFFS RUDELY HANG UP THE CALLS WHEN HE WAS BEING ASKED FOR THE QUESTION ABOUT "SAME DAY TRANSACTION". Customer service (All most all of them) LIED to me by saying that "I am going to transfer you to the manager" when you asked for it and then HANG UP ON YOU! When you called them again, they just make you look like an idiot and don't even say that there is no one such that person with the name that you spoke to.

As someone earlier mentioned that he/she was ripped off in Balance Transfer. There is a Balance Transfer Fees even they said it is 0% interest and HEY I am way too okay with any fees they mentioned at front and what kind of fees, what are the monthly expectation, what are the condition to meet and etc. which you sign and agreed, I believe it is fair. What I am going to say is RIPPING PEOPLE OFF WITH HIDDEN WHICH NORMALLY TARGETED TO TRICKING PEOPLE. THAT IS "SCAMMING". Make sure to read every single fine fine print and be extremely careful. So, I have this Balance Transfer from BOA and found out that I have been CHEATED ("the feeling": meaning: "exactly what happened"). So, it is okay and I just have to learn my lesson and I closed the account. I paid every single penny in the account and ask to close the account. The next month, the account is still open and I have been charged for "A Penny", one cents. For that one cent, my account is still open. What that penny charge is for, don't ask me (I have no clue). So, account can't be closed since there is a balance! What the hell is that?

Read full review of Bank of America and 8 comments
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
8 comments
Add a comment
N
N
NO APPLE
Gastonia, US
Jan 07, 2011 4:32 pm EST

I used to have B of A account at the Eastchester branch in High Point, NC but I closed it recently due to their rude manners.
I will never use it again.

K
K
kalomi
St. Petersburg, US
Sep 26, 2009 12:48 pm EDT

I was told by a manager at BOA that if your account is one cent overdrawn at any time they automatically charge $35 insufficient funds fee. The first occurrence of such a fee can be removed. Subsequent fees cannot be removed. Never mind that my automatic payroll deposit posted to the account just an hour or two after the automatic withdrawal posted!

During these tough economic times -- especially after the American tax payer helped bail out BOA --- the bank should allow 24 hours to bring an account current before assessing NSF fees! $35 is a ridiculous amount!

When I complained, the manager stated, "We are a bank and that's just the way it is!" I was told that I have to write a letter with my complaint about their services, and yes, I'm writing the letter!

C
C
Calikid228
Taylors, US
Aug 20, 2009 7:34 pm EDT

Bank of America strikes again! Got one of those special Extended Overdraft Balance Fees for my account being 76 CENTS overdrawn! This is the biggest bank scam to hit consumers. We all need to unite and file a class action lawsuit for their unfair business practices!

B
B
BankofAmerica
Austin, US
Apr 17, 2009 3:34 pm EDT

I have to agree that Bank of america customer service representatives are extremely rude. It took me 9 years almost before I realized that. No matter how nice you try to address them, they will hang up on you before you even say a word. That's why I took my business to TD bank. I do hope one day they go bankrupt.
These sons of a gun placed a hold onto my checking account, talking about my account is pending closure, and I will get a "cash check" for the positive amount on my account mailed out ot me in 15 days. Mind you I had no cash on me, no credit card, my car insurance was due. These heartless people did not care, they didn't remove the hold. I will never do business with bank of America.

K
K
Kathleen Pilz
,
Dec 02, 2008 8:33 pm EST

I forgot to add that they are the most rude people I have ever dealt with. Especially my local Bank of America here in Aiken, SC. It is the one on Laurens st. They are the one's holding my checks. I even asked the teller why my check deposits were being held and sshe said because the Local Branch Manager requested it! What a ###!

K
K
Kathleen Pilz
,
Dec 02, 2008 8:29 pm EST

I also have the same problem with BOA charging NSF fee's. They will always hold any check I deposit, including local bank checks. I had a check to deposit for $365.00 from a local bank. When I got my deposit slip back, I saw where they placed a hold on the check. I politely asked for the check back, went and cashed it at the local bank, went back to BOA and made a cash deposit before 1:00pm. They still not show the cash deposit for 24 hrs. I deposited a Northwestern Mutual check for $12, 000.00 on Nov. 14th, 2008. I did some shopping and used my debit card. I didn'd realize they placed a 21 day hold on the check. After 14 days, theydid credit my account $5000.00. The other was deposited 7 days later. Now, either the whole check cleared and they deposited part of it, or it didn't clear for 21 days and as a courtesy, the put the $5000.00 into the account.(haha) Now I have been charged $340.00 for returned check & NSF fees just for this month.
I and my husband are medically retired, living on a fixed income and cannot afford these fee's. It should be illegal to do this. Deposits should not be able to be withheld at the whim of BOA.
Just as soon as I can, I will be moving my account to another bank. It is just a mess because I have direct deposit for my retirement and SS. So does my husband. I just takes the government so long to transfer your money, I am afraid I will be late on some of my bills.

D
D
David Hatley
,
Jul 30, 2008 6:39 am EDT

I am fed up with the whole BOA situation. My problems with them are when a transaction pends then hard post to the account a couple of days later all of the sudden its pending again. Prime example In one account there was 20.47 available in the account and nothing pending, no checks out etc and I went to the ATM knowing I get direct deposit the very next morning, took $20.00 from the account. My receipt showed I have .47 cents remaining. Later that day when I looked at my account at work, I noticed the hard posted items became pending again and over drafted the ATM withdrawl for 20.00.

There were two other transactions so lovely bank of america took 35.00 x 3 out of my account. I contacted a local branch and explained and said I need to get these fees reversed and they refused they stated my receipt doesnt say no such of a thing and if I can produce it take it to a branch. So I am going to a branch today to discuss this matter with deaf ears. I think BOA has gotten too big to care about the little people. I think if you are not a 7 figure account holder they could care less. You and I are just another number is the pool and left to drown.

Oh I can't forget this one, I love how they publicize on the internet when you open online there is never a min, no fees etc, but fall below 200.00 and there is a 3.00 maintenance fee every single month. When the account that I appllied for was online and no fees were part of the slogan. There are fees for everything with BOA and I am sure when I go to the branch today, I will be charged a fee for walking in.

Wish there were other banks that we could use that were just as big so when traveling etc you have a bank, but with the monopoly giant buying them all up, guess it really doesnt matter, we will still end up a BOA customer anyways.

J
J
Joe
,
Jul 23, 2008 5:25 am EDT

I whole heartedly aggree. I have had many of these NSF fees assessed to me even when I had money that was transfered on the same day to cover the negative balances from another BOA account and was not posted on the same day.
I have complainted on deaf ears at BOA.
I don't know why the attorney general hasn't unvestigated BOA yet. I am sure BOA has scammed millions of dollars off its victims like me.

I hate BOA, if I didn't have a lower mortgage rate with them I would wish them all to hell.

ComplaintsBoard
R
3:59 pm EDT

Bank of America Bank America FIA Grabs Money

I recently made a deposit to my personal bank of america checking account only to find FIA services took out $9700 right out of my account without authorization!. My company about 2 years ago recieved a Bank of America Credit card and line of credit. Nobody including me ever applied for it or signed any such guarantee. I have called over and over and demanded to see my applictation and PG that I agreed to let them take money from my account to resolve the corporate accounts balance!. I have talked to customer service and the fraud department and all they can say is they show me as the gurantor but cant locate any documents to even show I applied for the card. I have hired a attorney and will be taking Bank Of AMerica to Court if my personal money is not returned. I have never heard of such a thing to just yank somebody's money from a checking account because I am a officer of the company. I never signed the card or even used it!

Pissed off as hell in Clearwater

Read full review of Bank of America
Hide full review
ComplaintsBoard
N
6:44 am EDT

Bank of America bad service/lies/and no one knows what is going on.

In september of 2007 i had to apply for a loan modification, with countrywide because i lost my job was seperated from my husband since feb, 07 & because i had a an ajustable rate mortgage. They told me it would be 15-45 buisness days to get a response, and that i would be called by a "negotiator". when there was a response or if more information was needed. today is April, 15 2008 exactly 7 months since the whole process started i have not spoken to a negotiator, and according to the papers i received in the mail in march of 2008 i had been approved for the loan modification, i was told by several reps from countrywide that i would receive a call from a negotiator for better explanation of the paper work i was signing. (note: i received the paper work 10 days before the deadline.) no one ever called me. i have called countrywide several times where i am transfered to every dept., and left on hold for 1 hour and a half almost every time i call. (i have phone bills to prove it) what made me finally break down is last night i called, talk to 4 diffrent people and all of them had diffrent responses, the last person i spoke to told me "oh in february of 08 you were denied for the loan modification and have to pay 3, 181.00" . she was wrong and after explaining to her that i did receive the paperwork and that i sent it back, she did not have the courtesy to apologize on her mistake.COUNTRYWIDE is rude they have no respect, sympathy, and have no idea what goes on in their own company and i hope to be able to take this compalint to a higher up, so if anyone knows what i can do please let me know how. thank you

Read full review of Bank of America and 1 comment
Hide full review
1 comment
Add a comment
C
C
Countrywide a Fraud
North Port, US
Apr 06, 2009 8:13 am EDT

Countrywide should be seized by the Fed before Bank of America takes over. Then they will be able to offer the excuse that they have tons of paperwork to go through before they can help anyone. As the days go on I am beginning to believe that President Obama should have let these scoundrals go belly-up. That would have done the world a favor. Instead, the same crooks are still in charge. They are rude and ruthless. They deny Modifications even before they have the paperwork. I never sent the papers in yet, they are being faxed today, and yesterday I received a denial dated March 25. It's all automated, they don't even wait for the paperwork. I was told I didn't make enough money for the modification. That people is the reason to modify, so that the payment fallsss within paramaters as set up by Obama. Rest in Peace Countrywide.

ComplaintsBoard
W
10:06 pm EDT

Bank of America Took my money!

I have not never hear of these guys until I checked my balance tonight. A check was cashed in my name that has overdraw my account. Wow! Like it's not hard enough to keep money in the bank in the first place, but they have to go ahead and take what little is there. I just paid my monthly credit card bill too. WTF! Not only that but guess who gets charged? I'd rather get kicked in the @#%!

Read full review of Bank of America and 1 comment
Hide full review
1 comment
Add a comment
W
W
watch your account
,
Aug 08, 2008 10:33 am EDT

Everyone!
Always watch your account. This company is creating bogus electronic checks and sending them to your financial institution. Obviously, they must get paid based on funds collected to the point they are using illegal strategies to get payments. Pay close attention to your account monthly. NEVER, EVER, EVER give them your acount info. Tell them you will send them a money order instead. This is the most crooked company I have ever heard of. They are scary dogs so STAY AWAY!1

ComplaintsBoard
G
1:27 pm EDT

Bank of America Unauthorized debit to checking account!

FIA cards services has made an unauthorized debit to my checking account for the amount of $150.00. Who can I contact to file a complaint? Plz advise smb!

Read full review of Bank of America and 1 comment
Hide full review
1 comment
Add a comment
D
D
Donna White
,
Jun 12, 2008 7:14 pm EDT

This also happened to me. I had previously authorized deductions from my checking account, so the information was available to them. When I realized the money had been debited, I called them. They said they spoke to my husband and he authorized and they provided the date and time they spoke to him. I knew this was not true and immediately looked at the call detail for the only phone number they had on record for my husband. There was no call that day, in the 3 days before or the 3 days after the date they provided. To be certain I was right, I also checked the only other phone number they could have called. Same thing ... no call. They refused to provide any further proof.

I have a file folder an inch thick on correspondence to and from them on a variety of other issues as well. I ended up settling with them, but regret that I didn't consult with an attorney beforehand.

ComplaintsBoard
B
1:44 pm EDT
Verified customer This complaint was posted by a verified customer. Learn more

Bank of America Countrywide refinancing scam!

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 [protected]@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. Folks, does this sound like a scam? First get people bent over the barrel with payments they can't afford, then sucker them out of (at least) an appraisal fee of nearly $500 and probably much more often a refinancing fee / closing costs of many thousands of dollars. If you multiple those thousands of dollars and all those appraisal fees by thousands and thousands of customers in search of some help, you have a massive financial intake that probably nets Countrywide millions each year. I guess that's how their executives come out with $40 Million a year paychecks. What a world we live in...

Read full review of Bank of America and 16 comments
Hide full review
16 comments
Add a comment
D
D
Domenica Saverino
,
Nov 21, 2008 2:30 pm EST

Called Countrywide in beginning of October /08.We couldnt make payment, husband lost full time job.Asked help, asked for a defferment of a couple of months SINCE WE WERE NEVER late with our payment before.They said we were still current, =no help.Called again and again.Faxed over papers of our financial situation on oct.10.08 they told me they would give an answer in 30 days.I called after 30 days, they told me NO you misunderstood, we said 60 days. That means that i will be 3 months late on my loan, and guess what thats my way to foreclosure. Still today, they have no anwer.Unbeliveable.Very disappointed.

A
A
Anthony J Valentine
,
Dec 15, 2007 12:00 am EST

We had our first loan with Countrywide in 2006. We paid our first payment in October, in 2 installments. Both installments arrived close to the 1st of the month and before the 15th. Our next payment, due in November was paid the same way. However, Countrywide applied the payment to our escrow account and not to principal and interest. For starters, this action breached the mortgage agreement we had with Countrywide. Then, Countrywide reported us late to the credit bureaus. We contacted them, and after several conversations, they agreed to contact the credit bureaus and correct the problem. Countrywide never followed up on the request to the credit bureaus. I had to contact the credit bureaus myself and get the job done.

After all of this, we actually ended up with another loan with Countrywide. As a result of the refinancing our home, one of our lenders sold our new mortgage to Countrywide. All of our payments were made on time, from January 2007 to May 2007. during that time, we were informed by Countrywide that they had allowed our identities to be stolen by one of their employees.

We had other problems with them, and when we had a financial issue because my wife, who is a teacher, did not receive a check for 3 months, we asked Countrywide to put those months on the back of the loan, and let us start our payments in September 2007, when my wife would get a check(my income is used for all other bills).

Countrywide, after all that they had done to us, denied our request and have put us into foreclosure. We will re-instate our loan, but it never had to come to this.

We are currently suing Countrywide for Breach of Contract, and violating our rights under the fair credit reporting act.

Valerie
Valerie
, US
Jun 16, 2008 4:22 am EDT

At the end of January 2008, I contacted Countrywide to see if they could extend my mortgage payment for 1 month at the end of my payments. They said it had to go through the procedure which would take 14 days. They would get back with me within 14 days on the answer. I contacted them on day 14, and they said it had to go to another department for review before making a decision and it would be up to a month. This would be 6 weeks after I first contacted them. I was waiting for my SSDI to be approved, so I either had to pay my taxes and insurance, or make the mortgage payment. Prior to this incident, I was never late. My payment were always there before the day they were do.

They say to contact them before you get into a situation and they will work with you. I explained this situation to them and they said this happens to the best of us and that they would work out a payment plan. That was a JOKE. The beginning of March, I sent my normal payment in which I thought was my March payment. I learned later that they applied it to the month I was needing the help. I asked them if they had heard anything on the payment plan, and of course they said NO.

Because of all this, they reported my payments as being late to the Credit Bureaus that fast. They waisted NO TIME. If they had of helped me with 1 month mortgage, this would not have happened. Now, I have to wait for a whole year to be eligible to get the PMI insurance request to be removed because of the late payment which could have been prevented with the supposedly good customer service.

THIS HAS MESSED MY CREDIT UP ON MY CREDIT REPORTS which was uncalled for.

They do not care at all for their customers. If they had not been so eager to give loans when the market was hot, they would not be in this situation and would work with their good paying customers.

E
E
Edward Lopez
,
Dec 08, 2007 12:00 am EST

My complaint is a relatively minor one but it could result in a negative impact on my credit score. On 12/04/07 I spoke to 2 different Countrywide reps about POSSIBLY refinancing my existing 1st and second mortgages. I explicitly asked that no formal credit inquiry be initiated until my wife and I discussed the pros and cons of a new mortgage. Both reps agreed: one named Dina and the other, Miles. I have their last names and phone numbers in my notes. Since that time (3 days)I have rec'd 3 alerts from my credit reporting service about inquiries from Countrywide and Landsafe. As is evident from the web site, Landsafe and Countrywide have a direct relationship. It strikes me as a shabby way to do business but I suppose it is to be expected from today's breed of lenders. Needless to say, I do not expect to do business with Countrywide any time soon. Obviously, the powers that be won't lose too much sleep over the loss of a $225,000 mortgage. Why am I not surprised...

G
G
Gid
,
Aug 05, 2008 9:14 am EDT

Unfortunately I have 3 home loans with Countrywide. I've made 67 paymets to date. All 3 payments are due on the 1st of each month. I ALWAYS write checks for each loan on the 25th at the same time and mail them the same time. Two of the loans I make additional principal payments...EVERY time.

Two months in a row now Countrywide has claimed not to receive one of my checks. They have received the other two but not the third. Last month I called to investigate the issue. They claimed they did not have the check. I stopped payment on the check and immediately sent another check. Miraculously Countrywide found the original check the next day and attempted to post.

Apparently the same exact thing has happened this month on the same loan! Countrywide has posted the first two checks but claim not to have received the third. Rebecaa the Countrywide rep suggested I put a stop on the check. I don't have time to go to the bank monthly to stop checks due to Countrywide's lack of organization. I have read other comments about Countrywide on this site which lead me to believe it is a ploy to collect late payments(?) I also see where some people say don't sign up for auto payments from your bank account. Do I have to drive to Plano Texas each month to ensure they receive my payment?

In my opinion Countrywide is the worst service company on the Planet!

M
M
Myra
,
May 28, 2008 9:57 am EDT

COUNTRYWIDE HAS NO COMPASSION ABOUT DEALING IN ARM LOANS. I WAS A VICTIM OF THEIR MONEY MAKING SCHEME. THE FINANCIAL PERSON TALKED ME INTO GETTING AN ARM FROM A HOUSE I HAD SO I COULD GET CASH OUT AND GET ANOTHER HOUSE. OF COURSE I AM PARTIALY TO BLAME AS I DID NOT THINK ABOUT ALL THE CONSEQUENCES. WELL I BOUGHT THE OTHER HOUSE AND IN THE PROCESS OF SELLING THE OTHER HOUSE WHEN THE MARKET DROPPED. I HAVE SPEND THOUSANDS OF DOLLARS WITH COUNTRYWIDE REFINANCING AND PAYING CLOSING AND OTHER COSTS SO THAT I COULD STAY IN MY HOME. NOW MY MORTGAGE IS MORE THEN MY HOUSE IS WORTH. I HAVE ASKED COUNTRYWIDE TO RESTRUCTURE, TAKE OF THE PMI OR ANYTHING SO THAT I WOULD NOT BE LATE ON PAYMENTS OR FORECLOSE. THEY SAID SORRY, YOU CAN RENT OUT A ROOM OR SALE YOUR JEWELRY TO MAKE EXTRA CASH. THANKS COUNTRYWIDE FOR THE COMPASSION. ALL I ASK FOR WAS TO LOWER MY PAYMENT BY A FEW HUNDRED DOLLARS BUT ALL I GOT WAS RENT A ROOM.

N
N
Nikki
Davenport, US
Feb 27, 2009 11:55 am EST

When we starting house shopping we didn't quite have a down payment. We were in the process of setting up a loan through Countrywide and were advised by the loan officer to amend our 2008 tax return to add the 8, 000.00 1st time home buyers credit so that it can be used towards our down payment. While my family and I were doing some research we were advised 3 different times by 3 different people with the IRS that NO IS ALLOWED TO USE THE 8, 000.00 TOWARD A DOWN PAYMENT. If this done that we would be fine and or panelized until that money is returned to the IRS. Another loan officer said that it's considered mortgage fraud. As soon as we found this out we called the loan officer with Countrywide and advised that we were seeking other options and that we no longer would be going through Countrywide. The loan officer then said, " Just to let you know... not many lenders will accept the 8, 000.00 to go toward your down payment." I then said, " Of course, because it's mortgage Fraud! It felt soooo good not to be sucked into Countrywide and their schemes!

C
C
clshaw
,
Apr 28, 2008 9:02 am EDT

This has now happened twice paying my account via the internet to country wide and they take the payment out twice and say that I did it, and that is a federal offence! Save yourself the time and mail it only ! this will happen to you and they will only reverse the whole amount, then you will be late!never again ! SELL MY ACOUNT, PLEASE!

C
C
corporateadvocates
, US
Feb 02, 2011 1:40 am EST

http://www.reserveathamman.com/

N
N
Nikki
Davenport, US
Feb 27, 2009 12:03 pm EST

fo sho

ComplaintsBoard
V
6:02 am EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Bank of America Questionable business practice

I believe bank of america is manipulating "available balance" on deposit accounts as an unethical business practice to generate and collect fees. I had a direct deposit post on my account as a "pending" transaction on 3/28/2008, and also reflected the deposit amount in my "available balance" via their online banking. Thinking these funds were available, my wife and I made numerous purchases over the weekend. It was to our surprise to see that bank of america charged a $175 in nsf fees stating we had overdrawn our account. Given the deposit was $2, 000+ greater than the transactions in question, the root of this issue is the status of "available balance". Per the information on their own web site, "available balance" can be a combination of both posted and pending transactions. As I found myself engaged in an email exchange with customer service trying to explain my concern, they pretty much ignored my position. They stated that the direct deposit didn't post until 3/31; hence, that's what caused the overdrafts. However, the direct deposit was reflected in the available balance on 3/28 as a pending transaction. It seems they took this opportunity to generate fees by manipulating the available balance, and then claiming the deposit didn't post until 3/31. I of course can't prove what happened because the pending transaction has now posted; hence, we find ourselves in a he said/she said scenario. They over course take no responsibility or consider the possibility of what I said. In other words, they say i'm lying. My point is that if the "available balance" didn't reflect the direct deposit on 3/28, my wife and I would have made our purchases on a different card to cover the purchases. Bank of america misleads us by manipulating the "available balance" between 3/28 and 3/31. My advice to anyone banking at bank of america, "be careful". You are nothing but a number with a bull’s eye on your back for a fee. It's no longer about the $175 in fees they charge, but a matter of principle in how they handle a customer complaint. Very non-human. My advice is to bank at a smaller community bank or credit union where they do treat you with respect and like a human. I'm in the process of re-financing my home and currently engaged with churchill mortgage. I thought i'd compare rates with bank of america given i'm a long-time loyal customer, but the $175 fee negotiated them out of consideration. Terrible customer service and perspective. Has anyone else had this issue with bank of america? I'm considering legal action to expose the unethical practice of manipulating "available balance".

Read full review of Bank of America and 11 comments
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
11 comments
Add a comment
N
N
NickShow
Castro Valley, US
Nov 12, 2013 11:41 pm EST

While I think BOFA does a lot of unethical things this is actually very simple. When a company makes a DD, most commonly payroll deposits, they will set a date which it clears. I found that similarly my fellow co workers with other banks won't see these pending credits until they clear. BOFA however shows you that someone has scheduled a DD but it has not actually hit your account yet. You're not able to spend those funds until it clears the account, based on the date the sender requests. Lots of companies schedule payments days in advance, but don't intend for you to get the funds until you actual payday. Never think you can spend funds that are showing as pending, it's that simple. It sucks you had this happen, but if it was your first time they will usually credit you for the honest mistake.

B
B
BofAscamEXPOSED
somewhere, US
Mar 12, 2013 2:01 pm EDT

Banking of america is stealing money in the most disgusting ways. The are manipulating available balance information in order to convince customers that they have money available. Then when they see a large deposit come through they will adjust the order of the transactions and then claim that you never had an available balance to begin with.

They have told me that I must go off of the available balance and not the posted balance. Today they said I must go off of the posted balance and be aware that during 12am-7am that the available balance is incorrect. If its incorrect then why even show an available balance.

here is an example of how they make the scam work:
Available Balance $325
processing debit $50.00 balance $325
processing debit $50.00 balance $375
deposit (processing) $400 balance $425

then after 7am they will change the order
Available Balance: $ $230
Deposit: $400
NSF FEE - $35
NSF FEE - $35
Debit - $50.00
Debit - $50.00
previous balance - 25

The problem is that if the deposit funds were not available, then they should have never been listed in available balance info.
It is my belief that bank of america is doing this in order to create confusion and obfuscate their actions, as they can post whatever numbers they like and then change it without anyone being able to prove a claim that they did infact provide available funds from the deposit in question.

We can all fix this by taking screen shots daily of our bank account sessions that show the daily available balance and expose the game that bank of america is playing. I have gone as far to incorporate a session based recording setup that will record my entire login and keeps a loop of the last 24 hrs of info. Now when they try this again I will have proof and I will be filing a case against BofA for malicious and deceptive practices. I encourage everyone to do the same and lets make this another class action law suit against them.

Bank of america has been sued twice in the last 2-3 years for deceptive practices, both of which were class action lawsuits involving thousands of customers that they cheated out of money in order to grow their margins.

S
S
sabrina41
Canby, US
Aug 19, 2011 7:10 pm EDT

my parents were scammed out of over $5200. in nsf fees because they allowed checks to be continually presented even though there were not
sufficient funds due, to scammers and overseas lottery scammers pulling
money out of their account continually till we found out about this -
they never contacted anyone or froze the account till a family member
could be contacted. We then presented our case to their fraud department, took us 3 months to compile all the info on the fraud and scams and they conveniently LOST ALL OF IT. So we have now submitted letter to the Dept. of Justice State of Oregon for their practices and removed all family member accounts from any B of A Bank. They live on SS income only. The police dept. says the bank is required to stop this, but they CHOSE not to
do anything in favor of racking up charges and abscounding with their Social Security monies. They should be ashamed of themselves on several counts, but they don't care. $5200 dollars - that's elder abuse!

M
M
Military Girl
, US
Apr 29, 2011 10:40 am EDT
Verified customer This comment was posted by a verified customer. Learn more

i thought i was just making accouting mistake. i started take a computer picture of my account online every evening and notice the nex morning everything was reagrranged from highest ammount to low even thought I made the low purchase before the highest one. They would then say that my account was negative even thought i had an approved balance of over $2000 dollars from direct deposit but the check I wrote would be returned on that sameday. Today it would show cleared at 3am and then returned at 10am the sameday. they would charge me 2 fees for that check and the monies in the available balance.

R
R
rickppp
East Brunswick, US
Mar 16, 2011 10:11 pm EDT

Yep - B of A has a license to steal, they stole the stimulas money, your money, my money and will continue to do it. Write to the CEO explaining why you closed (you should) your account. IF they get enough of these letters - it'll make them change their policies.

P
P
patrick c
, US
Mar 16, 2011 10:03 pm EDT

Don, they have done this to me for the last time. I don't see how they can charge an overdraft fee for an item that has been authorized but is still processing and not cleared. They got me for $140.00 because of this. If the money is still in Bank of America's possession IE. my bank account, how can they charge me $35.00 for an overdraft that has not been drafted?
Do they have a license to steal from people? I'm contacting my congressman.

J
J
justjack0219
Aripeka, US
Nov 26, 2009 10:39 pm EST

Don - the same thing just happened to me 2 days ago! They are STILL doing business this way. Of course, I can get nowhere with them at all - I go in and get told I have to call the 800 number, then when I call I get bounced around before getting a voicemail (which of course I never did get a call back from). I have two words...CREDIT UNION! Bank of America SUCKS!

BTW...no, I do not routinely use overdraft...I've used it one other time in 5 years, and was totally at fault and had no trouble paying the fee. I do however have a problem when they manipulate things to make extra money off me!

D
D
Don
Tampa, US
Apr 30, 2009 8:54 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.

S
S
Sofia Meyen
,
Apr 13, 2008 9:51 pm EDT

Same scenario happened to me. i told my primary bank to pull funds from my B of A account, as i had a $2000 check in there that had posted on their internet site as part of my "available
balance." Silly me! It was not part of my available balance at all! I called them, I went to the local B of A (they can never do anything, and always insist you call the number that makes you wait forever and then transfers you to "the right dept" forever, etc...) Long story short, I couldn't get a letter from B of A to explain what happened, so my primary bank withdrew my ability to access funds that weren't physically in my account yet. In other words, my primary bank is awesome (USAA Federal Savings)-- they DID allow me to access funds EVEN before checks clear-- but only until you screw up and the funds you claim are there to be accessed are actually NOT there. In B of A's case, they were NOT there, so it looked like *I* had boneheaded rather than B of A!

Ok, second item:
B of A offered a special $100 bonus if you opened an additional personal savings accnt, and another $20 if you opened an additional personal checking account. I thought that sounded like a good deal. Six months later, I was still asking the manager at my branch what happened to the bonus they offered. Eventually, my local bank gave it to me (after 8 months of friendly harrassment by Yours Truly)-- probably because I own a business nearby and because they were tired of my asking! I spent far more than $120 worth of my time when all was said and done, but I was too annoyed at their gall to quit!

Third item:
This is great. Did you know that your B of A business (!) account will not allow you to WIRE FUNDS without the following: A special wiring form, filled out in advance, which takes 7 business days to process, and which must be obtained FROM YOUR OPENING BRANCH? In other words, let's say you are abroad and you find out your business at home needs funds quickly. You call to wire funds from your "trusty" B of A account. Ha! First you will spend about two hours of time calling long distance, because they must put you on hold for twenty minutes at a time after they say, "Oh, this dept. doesn t handle that. Let me connect you." About 5 times! Then you reach someone who's SURE you can wire funds, and makes you wait while she talks with various people, and then puts you on the line so you can listen to the manager of your opening branch tell you what I listed previously: That you must COME INTO the bank (they cannot mail OR fax this form!). You have to fill out the form, hand it in live, and then wait 7 business days. THEN you have the privilege of being permitted to wire funds. (The manager hung up before we were done talking because she was apparently bored with the conversation, and thought these rules she was listing should have been obvious (?).) And do they tell you this when you open your new business account! Of course not! They wait until you're IN an emergency, NEED the money, and CANNOT GET IT to where it's supposed to be to tell you their bizarre requirements!

Fourth Item (the last; i could go on, but I'm sure you have your own exciting stories to share!):
I go to B of A to exchange my DM for dollars. They exchange my cash and I leave with my $500. Seven weeks later, my account suddenly shows a $497 deficit. HUH? I call and get sent around the world again. Someone says they'll call me back when they find someone who knows what this is. They don't. I get more notices. They all contain threats to call OR ELSE I'll be reported to the credit bureau, my account will be closed, etc. I call again. No luck. No one knows what this is from. Finally, 3 weeks after the first letter, I reach someone who goes to the trouble to find out a few things that *I* have to piece together to realize that this is the money I received for my currency exchange a couple months earlier! After a lot more waiting and discussion and being shifted around, it becomes clear that the problem is that B of A doesn t TAKE DM for currency exchange (even though they did), so they decided to simply deduct the USD they gave me directly from my account! So I say, "Ok, so if you want me to pay the USD, I guess you're planning to return my DM to me--?" Oh, no! They don't have that cash anymore! But they still want to deduct the USD from account! Meaning they want to take $1000 from me in total, and I am simply out $1000! So my account sits waiting for the credit bureau to hear about my negative balance, while I sit wondering whether to pay $1000 just to save my credit report the bad mark!
What a great bank! With this kind of service, who needs identity theft? Your own bank can rip you off perfectly fine! (If it's Bank of America, that is!)

O
O
Othoniel
,
Apr 10, 2008 5:58 pm EDT

Questionable business practices? More like unethical to me! Within the past month I've probably racked up at least $445.00 in overdraft fees and was able to reverse about $115.00. I guess the old fashioned way of balancing your checkbook no longer works. I thought transactions were recorded consecutively from the time of purchase, now they wait until the largest amount can post to overdraw your account and then subsequently charge for amounts that post afterwards. I've written to my congressman and suggest that you do the same and spread the word for others to do the same. It takes a few years but this is why credit card companies can no longer charge outrageous interest rates. If people do this the same will happen to the banking industry.

ComplaintsBoard
L
12:33 pm EDT

Bank of America fradulent billing

I have been with Countrywide for several years with no complaints, until this month when I received my billing statement. It stated my escrow amount was going to increase $25 per month due to increases in taxes and insurance. No problem. Then I noticed the actual payment was increasing almost $70 per month and I couldn't figure out why. After going over and over the paperwork, I realized they were tacking on an additional "reserve requirement" of over $40 to each payment. Looking at the projections of charges for the next year it was only showing the $25 to my escrow and no explaination of how the the remainder was being used. I called Countrywide and the CSR explained to me that the "reserve" was an "insurance policy/cushion" for any unexpected increases in taxes and insurance. When I questioned why I would be charged this amount when I was already being charged an additional $25 for those increases, she had no comment. I asked how the $40 was going to be applied and she told me it was not being applied to anything...they were just going to take my money and hold it in an account! I told her that I would pay the $25 but that I refused to pay the $40 and she needed to forward me to someone that had the authority to remove the charge. She said that wasn't a problem and if I would "hold" she would have the amount taken off my bill. That really raised a red flag to me. If this was a legitimate charge, they would not be so willing to remove it. Within a few minutes, she had the charge removed and my payment would only include the $25 increase. Even though the problem was rectified, I have to wonder if they are doing this to everyone, and how many people wouldn't question it. This charge is not being used for anything other than to draw interest for Countrywide and I can't believe it is a legal practice.

Read full review of Bank of America and 5 comments
Hide full review
5 comments
Add a comment
S
S
Sandy
,
Aug 07, 2008 2:16 pm EDT

I just called and they removed this without question. They are absolutely hoping that people don't notice and know that they have no way to force this extra payment. If I could get rid of Countrywide without expensive refinancing, I would in a second!

S
S
Sandy
,
Aug 07, 2008 1:58 pm EDT

I discovered this same exact problem today. Ridiculous. I sent an email to Consumerist to investigate and will definitely be calling and complaining and working to get this removed.

M
M
Monalesia
,
Jun 13, 2008 12:30 am EDT

I've recently had a similar experience with Countrywide Mortgage. Things going along smoothly and then out of the blue, they increased my monthly mortgage payments by five hundred dollars, claiming that it was essentially to build up my escrow account. Unfortunately, they claimed that the increase was based on actual tax rates that had been assessed for 2008 by the County Tax Assessor's Office, but when I called the tax assessor, they stated in no uncertain terms that they had not even set the rates for 2008 and that Countrywide and Wells Fargo had been using this line with lots of customers. Countrywide also stated that they would adjust the erroneous fees while I was on the telephone with them, which they claim they did, but then they decided to keep the fees after all because they claimed they needed to pay back sanitation charges on my account. To the tune of nearly nine hundred dollars? That's some serious sanitation service! I have reported Countrywide to the State Attorney General's Office in California and Georgia. I advise others to do the same. That's the only way these predatory lenders are going to stop ripping people off.

S
S
Sharon
,
May 07, 2008 11:41 am EDT

Wow - I am having the same problem - I called them yesterday and was forwarded to some voicemail and have been waiting for a call back to inquire what the heck this reserve requirement was. I can't afford another $60/mo tacked on and just sitting there for their own personal cushion! That's a tank of gas for me. Ridiculous.

T
T
T Bo
,
May 06, 2008 8:48 pm EDT

Your story is EXACTLY like mine this past month. Must be across the board for those of us who financed through Countrywide. I called them today and explained that I had never paid this before and I know that it is "allowed" but not a "requirement". So without any hassle the CSR took it off my bill. Helps me out. Now my 40 bucks a month can cushion my savings account and not some ailing business's. No way could I do the already 30+ increase with the extra 40 on top of that! It sure was a shocker to see that new payment amount.

Glad we could get it taken off. Hope others do the same!

ComplaintsBoard
T
10:01 am EDT

Bank of America not honoring written agreement

I was to ld to by FIA card services to make a payment of $110 to keep my account from being charged off and that they would settle my debt for $900. I told them to send me this in writing and they did. I made th e$110 payment in Feb 2008 and the settlement papers said that they would break up the $900 in 3 payments of $300. My first $300 payment was due on March 29, 2008. I called on March 28, 2008 to make the payment only to be told that the account was charged off ANYWAY. After speaking with a manager, I was told that B of A wasn't under any "obligation" to honor the agreement even though it is in writing. Needless to say, I am in the process of taking appropriate action to get this resolved.

Read full review of Bank of America and 2 comments
Hide full review
2 comments
Add a comment
T
T
Tana J Riggins
, US
Aug 27, 2019 2:40 pm EDT

I would like to keep Bank of America for my banking needs.
If I can

T
T
Tana J Riggins
, US
Aug 27, 2019 2:38 pm EDT

I would like to stay with Bank of America. If I can mop

ComplaintsBoard
R
9:38 am EDT
Featured review
This review was chosen algorithmically as the most valued customer feedback.

Bank of America - canceling home equity line of credit!

Last year, after remodeling our home, we were appraised by BofA and they approved a home equity line of credit based on the valuation of our home. Two days ago, we received a letter stating that our line of credit was canceled. The bank has randomly devalued our home by 67% based on a 'desktop model." Iowa never has had a housing bubble and is very secure...

Read full review of Bank of America and 5 comments
ComplaintsBoard
V
11:01 am EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Bank of America overcharge!

The thieves at Bank of America are good at it. I had signed up for email alerts from BOA, that way I can keep track of when and how my money is leaving the account. But it does not seem to matter. Last week while watching my account balance go down as 7 sequential transactions occurred, I watched until a large check posted sooner than expected and drew the account below zero.

However, the thieves at BOA actually stacked the large check first and then subsequently loaded each smaller debit in order of value. Although the large check was last debt posted and deserved an overdraft, the stacking that BOA performed, by reversing the time sequence order drew the account below zero and then subsequently charged $35 for each of the 8 smaller transactions. This cost me $210 in fees. EVEN THOUGH THE EMAILS SHOWED THE BALANCE IN SEQUENCE and the balance did not go below zero until the last check posted. Bank Mangers in St. Petersburg FL stated that was Bank policy.

When they are the largest bank in the world they get to steal from everybody and no one stops them. Even if everyone filed a class action suit, why would they stop...

Read full review of Bank of America and 1 comment
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
1 comment
Add a comment
T
T
tim
,
Mar 27, 2008 6:18 pm EDT

This bank was developed by the devil himself. It is the worst bank I've ever dealt with and it's extremely difficult to work with. They completely lack in customer service. I am closing the account as fast as I can. When dealing with this bank RUN AS FAST AS YOU CAN!

ComplaintsBoard
D
11:59 am EDT

Bank of America hold on equity account!

Bank of America has just put a hold on my home equity line of credit account without notifying me. My credit score remains a solid 700-plus with no recent changes. My payment history is absolutely perfect. I have never had a late or missed payment on anything my entire life. I have been doing business with BofA since 1993. They have my first mortgage, my home equity line, 2 personnel checking accounts, my corporate checking, corporate savings, and a corporate SBA express line of credit. They say they canceled my home equity line simply because the recession and mortgage crisis have lowered my property value and the loan to value is now to high. I asked why they didn't notify me and they said that a letter was just put in the mail yesterday. Yesterday doesn't cut it! Why not just pick up the phone? It just so happened that I was in the bank trying make a transfer from equity to cover a business improvement that I already made, and I thought I was using money that I could count on. It also happened to be payday for my employees and the business account was not OK. Not a nice feeling when the teller says your account is frozen in front of other tellers and customers. I also had to race to stop my contractor from continuing a structural change on my home add-on that we were financing through this line.I lost a half of a day during business hours trying to shake down accounts receivables and basically embarrassing myself in front of my customers. I had to tell them that they were not late but I needed the money. All the while my business was running at half rate with the boss gone. The amount of financial stress I went through was indescribable. I have plenty of financial resources but everything takes planning. I should not have been put on the spot like that. The last point I need to make is that my home value has not dropped as much as they think. They never gave me a chance to re-appraise. Since the last time they appraised me I have completely landscaped, redwood fenced, planted 5 large trees and 20 shrubs, installed auto sprinklers, completely remodeled the mother in-law suite (top of the line), and added on a cathedral ceiling/ glassed in patio room. My home value has not dropped nearly as much as they think. They just never asked.

Read full review of Bank of America and 3 comments
Hide full review
3 comments
Add a comment
S
S
Scotty B
,
Jul 30, 2008 1:57 pm EDT

So last week a web site hosting company that I have auto debit for services set up with emailed me that my card had been denied. Then this last weekend I went to the ATM to get some cash and my card was rejected. Today another company set up with auto debit called me to say my card was denied. So I got motivated to call Bank of America customer service to find out what is going on.

First of all the "customer no-service" rep asked me for my SSN over the phone and I balked. I informed her of my discomfort in that and she automatically took a tone while telling me it was necessary. I told her to look up my card number instead. She complied.

I outlined the problem and she informed me that an alert from "MBNA" showed up at their ATM protection unit indicating that my card "may" be in a group of cards that were used at a business that had been compromised. For that reason they cancelled my card. They could not provide any details of the business that my card "may" have been used at because they do not collect that data. So... they could not tell me if my account info had been compromised or not, and could not tell me what business reported the compromise. It gets better.

So Debra at customer no-service says they mailed me a new card 3 weeks ago. To WHERE? Wait for it... the address I lived at 3 years ago. When I tell her they blew it, she goes off on me like an ex-girlfriend and tries to out talk me by talking without stops and over me to shut me down. I play for a second and then got bored. I asked why they sent the new card to the old address. She says that's the address they have for me, and acts like it's my fault that the info is not updated. She says when my wife came into the branch to change the address the teller only updated her profile. That is redamndiculous that they didn't update the account info, and I reminded her that I am primary on the account and ALL statements come to my current address without fail. She just says "Well that's how it is". Anystoop, She will be sending me via second day my new card. I had to ask though, if it would be a different number than the one on the card they send to the wrong address and she said "Hang on let me check" OMG! She had to check to see if she was stupid. Because that is what it would be if she had done that.

So, let's review. Bank of America cancelled my debit card on a maybe due to a possible compromise at or "near" a company that my card had been used.
They mailed me a new card to an address 3 years old. Blamed me for old account info, even though ALL statements and company offers are sent to the correct address.
Mis-treat me when I rightly express frustration.
I am now responsible for contacting all companies I contract with and have auto debiting set up with to set up all new billing.

Thank you Bank of America for a job well-done...NOT

B
B
Brian
,
Jul 01, 2008 12:54 pm EDT

Chase Mortgage did the same thing to my LOE with them without even a letter or email. I've never missed a payment, have only 7% balance outstanding and have a +700 credit score. The said that the property was reassessed and is below the 80% LTV. Not 4 years ago they were happy to give me 95% LTV and my financial situation has only improved since then with the exception of the market dropping. I understand that they are probably loosing their ### because they were greedy and all too happy to give 95 - 100% LTV when the market was good. Now that the ### has hit the fan they are screwing customers that have good standing, but are victims of a housing market crash that they helped perpetuate. Way to go. All I can do is pay it off so that they don't get any more interest from me and NEVER, EVER use any of Chase or JP Morgan's services.

C
C
chris garrity
,
Mar 23, 2008 7:49 pm EDT

DITTO here pal. Same thing happened to me! It's so ironic that on the day my HELOC from BOFA got frozen that I received an email from them telling me that I should apply for a HELOC as the FED just lowered rates. Thanks BOFA for a great lesson in communication. Some forewarning would have been nice!

ComplaintsBoard
B
5:54 pm EDT

Bank of America fraud activity!

I was a victim of an internet check fraud scheme and Bank of America refuses to take any responsibility on this issue. I lost over $2, 000.00 in savings and now my account with B of A is negative $4, 200.00, which they are requiring that I pay back to them. They know this was not my fault but they refuse to live up to the fraud protection promise to their customers. In essence, the bank feels that I should have to pay over $6, 000.00 for something I couldn't control! They do not care about my well-being or the fact that my life is ruined because of this. I have no money to eat, pay my bills, or even pay for gas...

EVERYTHING IS GONE, including the money that I had saved for college! Their behavior is outrageous and something needs to be done to persuade them to do the right thing.

Read full review of Bank of America and 1 comment
Hide full review
1 comment
Add a comment
L
L
L.
,
May 12, 2008 10:31 pm EDT

My son's account info was somehow stolen and charged by a company called "Mazein" (which bills for an adult sex dating site online). Even after requesting a freeze on the account, they charged it a 2nd time. He never even used his account one time (save for the initial deposit to open it). The bank is refusing to refund the 2nd charge (even though it happened after he filed a fraud report) and is refusing to credit any of the overdraft charges for either transaction. My son is a minor and opened the account without my consent anyhow yet B of A refuses to speak with me about the account. I do not see how it is ethical or legal for them to let a 17 year old open an account without my consent. He never made the online transaction (first one was day before Thanksgiving and he was no where near a computer that day!), he filed a report and everything. Now they have turned him over to a collection agency for the overdraft fees!

ComplaintsBoard
V
1:12 am EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Bank of America steals consumer's money with &hidden& overdrafts charges

A new policy. A manipulation of your funds.

Bank of America, apparently developed a new policy that will basically steal your money whenever they are short of funds. Complete bogus. Ive had other banking institutions and have friends who are Managers of banks, and have never heard of charging you overdrafts on funds that are pending, only when it is posted.

Heres what was explained to me and my situation.

They are still able to charge you overdraft charges when you swipe your card and you were short of xx amount, before anything was posted.

As to my understanding, when making a deposit $100.00 is available to you right away, even if it was going to take the next day to post. What was I suppose to understand, this was the system that I was used to. Never had an issue with it till now.

March 7th - -

I made a deposit through the ATM at 6:30pm. Yes, I missed the cut off time; but at least I knew I had $100 available to me through my debit card. I believe that those funds are available because it did show on my online banking that I had xx amount plus the $100.00 that was available to me through my deposit. I understand that my deposit wont post till the following Monday night.

Around 9:30pm I checked to see if my funds are available; and my online postings says that I had available funds. I made a purchase through paypal. Small funds, but a fund non the less.

At 10:30pm I went to buy food which costs $4.00 at Mcdonalds.

At 11:45pm I made a transaction for a drink for $13.00.

March 10th - - MEGA OVERCHARGE

Although those 3 charges above are at pending status; at the time of purchase I had the money available. Even on my online postings; there were no such negatives that had ever posted, but in the middle of the charges I was charged $35.00 for 3 transactions.

Theyve explained that the $100/ was only available for cash and not debit card transactions. Because when I had made the transactions, the funds were still pending. However, the charges that I made initially shows that it was in pendingstatus and not a posted status. I was being charge for the pending amounts; yet they were available to hold MY FUNDS AND DEPOSIT during pending, BUT COULD STILL CHARGE OVERDRAFTS FOR THEIR PENDING TRANSACTIONS.

So if you go to a restaurant an you were charged $34 on your debit card, and it was pending for $40.00 that have caused you for overdraft, even though that is not the actual amount that you authorized, you were overdrawn by 3 dollars for the pending; you WILL STILL BE CHARGED.. even if you did your calculations correct. SORRY NEW POLICY'¦ but when it posted, you were actually not overdraft. Oops, banks mistake but you'll be charged anyway because during the "pending" not posting amount was overdrawn. YOU WILL STILL BE CHARGED BECAUSE OF THE PENDING was over the amount.

Usually, in all banking institutions; you are not being charged until the amount is posted to your account without the available funds. However, this was not the case. Pending amounts are at times different when it is being posted. For instances, when buying gas, or at a restaurant; it will always shows as pending because the correct amount will post when they do their nightly postings. Reason for it being under pending.

However during the March 10th postings:

They posted my deposit, and then POSTED my transaction on the same day. Even if my posted deposit went through BEFORE the posted charges; therefore I had my funds there before any of my charges were being posted. Apparently the new policy is that they calculate the time that you made the transactions and then charge you.

For instance. We are use to seeing everything the next morning all together added the deposits and the charges. Now this is how they calculated.

Charges made at 5:24pm.. and you are negative of $3.00'¦ You made a deposit at 5:54pm of $600.00. THAT IS NORMALLY OK, BECAUSE EVERYTHING GETS PROCESSED AT THE SAME TIME, AND USUALLY YOUR DEPOSIT IS THE FIRST TO BE CREDITED. THIS IS NOT THE CASE HOWEVER.

Usually on normal circumstances and normal bankings; all of those we would see it as follows:

Current amount $1.25

Deposit credit: $ 600.00 = total: $601.25

Credit debit amount: $3.00 = total: $ 598.25

Above is normally what I see every night.

Now the new system.. you'll see the above on the same statement plus an overdraft charge of $35.. because you made a transaction 20 mins prior to your deposit.

How ridiculous is that?

Also my situation. Why even bother to let me see my $100.00 credit; when that isn't the case.. when in my 5 years of banking with them.. I had $100.00 available immediately AFTER WHATEVER TIME I MADE THE DEPOSIT. Why are they charging me for money I had in my account?

Does this makes sense to anyone?

Now I would understand that when it was actually posted to the account and my account was in negative status, I would understand my overdraft charges. But because I was actually NEVER overdrawn; how are you going to charge me the XX amounts?

A lot of people are going to close their accounts with them.. and probably open up with their competitors. I am one of them. I would rather invest on something that has the same system as all other bankings. Good going bank of America!

Read full review of Bank of America and 44 comments
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
44 comments
Add a comment
F
F
Fuming at BofA
, US
Jun 03, 2016 8:33 am EDT
Verified customer This comment was posted by a verified customer. Learn more

I felt absolutely attacked when making a transaction for a BofA account holder. I am not a BofA client and now never will be. When I went to the service window I was asked if I had an account, which was obviously sparked because I was making a transaction for someone else. I answered that I didn't and the teller proceeded with my transaction when all of a sudden I see an Account Representative stand next to me at tge window while my transaction was being completed to try to get me to open an account with BofA. I was very firm from when this rep approached me that I was not interested but was just continually hammered as to why, where I banked, etc., which honestly is none of their business. I could not wait to get out of there once the teller finished processing the transaction. Lesson for BofA: 1) don't approach a client when they are in the middle of completing a monetary transaction, 2) No is no. If the client is not interested then please stop the company lines. I'm in a Bank, not in a flea market. If the intent is to get more clients this is definitely not an effective approach. I left there very angry. 3) I don't know what kind of "button" or communication system this bank has between the teller and the account reps, but it is a wrong tactic. I felt very much violated and harassed. I will never go back to that branch ever again.

S
S
Syndyl
Newark, US
Jun 21, 2012 10:58 am EDT

To all Bank of America Customer Change banks, B of A is a very dirty bank. They steal your money with little accounting tricks, they steal your home, by acting like they are helping you just to say hey your paper work was expired... Well it was not when I gave it to you 2 months ago, Why did you not ask for all paper work at one time, but no they say they want this, then they come back and say I need this and then do it all over again just to steal your home.

MAKE BANK OF AMERICA FAIL, WE the AMERICAN people Bail these criminals out and now they thumb their noses at us. TAKE YOUR MONEY TO SMALL BANK AND YOU WILL GET THE BEST SERVICE OUT THERE, Small banks care about their customers unlike Bank of America.

S
S
Syndyl
Newark, US
Jun 21, 2012 10:53 am EDT

I say to all Bank of America Customers remove your money from this Dirty bank. Bank of America is the worst bank ever. They still your money, they do little accounting tricks to steal more money and if you have a home loan with them and are trying to refinance, they will stall and stall until all your paper work expires so they can steal your home to.
REMOVE ALL MONEY FROM BANK OF AMERICA

E
E
Eric195
21213, US
Feb 08, 2012 5:04 am EST
Verified customer This comment was posted by a verified customer. Learn more

Hi My name is eric and bank of ameica has robbed me for years, Just this past week has been hell with them. When i recieved a check in the mail, it was a cashiers check, i took the check to the bank and had the teller and supervisor verfiy the check for 3940.00. They Verified the check as a good check so they deposited in my account. When i checked my savings account where the check had deposited, it had cleared and funds were available for withdrawal, 9am that morning, Bank of america Took Back the 3940.00, Placed a hold on my account and deemed the check Counterfeit. Then they Charged me a Monthly Maintance Fee of 5.00 so that made my account (-5.00) then they charged an Overdraft Fee of 35.00 for the 5.00 fee they charged me. Which Brought it to (-40.00). Finally i got fed up and went to the bank the associate said he apologizes on behalf of bank of america and said i have to charge you an additional 12.00 for a returned check fee. So the account is now (-52.00) negative. So now in just using the checking account till my taxes come, Now whats really surprising is that i had 118 in my checking account, i withdrew 100 to cover the water bill with came with a processing charge of 3 dollars. so that left it with 15 dollars, i bought lightbulbs and food for 13.87, which was supposed to leave me with a 1.and some change. So when i checked my account that night, Bank of america charged me 2.00 Fee for withdrawl, i used a bank of america atm, before the other posts have completed, then i was sunk down to -0.62. Then i called bank of america, the representative told me they have no record of the charge and that if i have any more problems i should give them a call back. After the night was over i got charged two overdraft fees for 35 a piece, one for the 3 dollars for the bulbs and another for the 12.99 Monthly Maintance fee they charged me. I thought it was Free Checking, I did read the disclosure fully before signing, and apparently it didnt say anything about a maintence fee. I dont understand how they can charge a fee on an already negative account. Its perposturous i mean they can get away with something like this?

K
K
kickindog
fountain valley, US
Aug 29, 2011 7:17 am EDT

Class actions have been filed numerous times against banks over nsf charges for being an unlawful penalty. Hugh profits far far exceeding bank costs. If customer has nsf issues bank should close the account not leverage that conduct to their financial advantage. In all the class actions I reviewed on nsf charges ... They have all been settled with mo change in policy. Over and over again. The law firm makes big bucks and the customer one free bounce or token small credit of some kind. Never cash settlement or change of policy. So they problem gets worse, not better. Switching to a credit union and never doing business bank of American is a message that might ne heard ... Barring any future federal bailout . As for me I refuse to ever skiing business with them going on thirty years now. And yes this is not a new concern just that the greed increased with the loss of their traditional income ... Interest income.

M
M
Mike Mostacci
Prescott, US
Oct 13, 2010 2:24 pm EDT

Looking for BOA customers have been victims in the phoenix area, Especially in Mesa AZ. branches. By victims i mean funds taken out of your account and transfered to other branches of BOA. These accounts at other branches were opened in your name but without your knowledge or consent! I can help and in turn need help via information from other customers. Thank you MM Please e-mail me at mike.mostacci@yahoo.com

C
C
Chirstopher Peacock
Sierra Vista, US
May 18, 2010 2:00 pm EDT

I have had this and several problem with BofA.
I keep trying to remove them from my finances and still have not been able to do so.

C
C
clea
Tucson, US
Apr 23, 2010 12:16 am EDT

HERE IS WHAT I DID ! AFTER THEY CHARGED ME 180.00 IN BOGUS CHARGES AND WERE SOOOO RUDE TO ME I SAID! OK I WENT TO THE CASINO AND WITHDREW 420.00 THAT I DIDNT HAVE AND SAID KISS MY BOOTIE HOW DO YOU LIKE ME NOW BOFA ###!THEY CALL ME EVERYDAY AND I TELL THEM I AM NOT AVAILABLE ! SCREW THEM I WON!

S
S
satown1006
San Antonio, US
Apr 07, 2010 1:25 am EDT

ok, first of all. your post is too long for me to actually want to finish reading it. i think i catch the jist. now, i just want to make you aware of a few things...i disagree with bank of america's policy on this, BUT...even if you deposit CASH, those funds are not available for POS (point of sale) transactions until the following business day - the funds are only made available to you for withdrawal or transfer. It does not make sense to me much, but that is the way it is. and yes, you can definitely be charged those overdraft fees. that check will not post until the next business day and you were already making transactions on funds that were not there yet, even though you had the $100 immedaite credit for ATM withdrawals and tranfers. Sorry :(

B
B
boston12
Holliston, US
Apr 04, 2010 8:47 am EDT
Verified customer This comment was posted by a verified customer. Learn more

I have had the same problem. Complaints to corproate get you nice words (however the agent agreed it is immoral that is why they have a different bank themselves). You may get part refunded but usually not. I contacted the OCC which is teh Federal agency that watches BOA. They say the Bank can do what it wants they have no power over it. This is the agency that watches them? Other banks now are folowing. It is a 13 billion dollar profit center for banks. They are picking the pocket of middle class. I would like to see the laws enforced and changed to actually protect consumers here. Tim Geitner is looking eleswhere not helping either. I hope you folks can send Obama a letter and refer to this site as proof there is a lot of thievery going on by the banks. I am moving my account to a local bank that has the tate watching it. The big banks have the OCC which is worthless. Look at the OCC website and teh complaints they get. Look at their answers. They say Banks can steal sorry ! Greed is why we are in this financial mess with no jobs, banks are in teh center ring. BTW I had fees of several thousand a year all like you on little over drafts that wrere in pending even for 10 minutes (I transferrred money to cover but teh trigger went and so did $35 a pop. Oh they now do 5 per day limit not 10 gee whizz. They just hold stuff another day that is all.

ComplaintsBoard
P
6:51 am EDT

Bank of America scam and abuse!

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...

Read full review of Bank of America and 232 comments
Hide full review
232 comments
Add a comment
M
M
Miss cd
, US
Apr 21, 2020 3:35 pm EDT

BEWARE... CASH APP/ guy pretending to be agent with cash app customer service has got into my account stoled my bank information and requested money from all my contacts thousands of dollars as if it was me? he took $600 from my daughters ACCOUNT WIPED MY BANK OFF MY CASH APP PUT His bank of America account ending in 0119 transfer funds from my daughter account to this account with Bank of America. his name is Romeo//he has accent could be Iranian indian/African American/ their are two other guys working with him Michael/Robert Sims/so phone number they call from [protected]...they are in one room all doin fraud...off peoples accounts..

P
P
Phil Middleton
, US
Nov 21, 2018 9:01 am EST

This is about fraudulent charges on my credit card

P
P
Phil Middleton
, US
Nov 21, 2018 8:58 am EST

Phone no.[protected], [protected], [protected] Florida and [protected] Las Vegas NV This is for fraugulent charges against by credit card. Thank you Pjil Middletonb 3.9ij

W
W
wwwinventor
, US
Oct 23, 2017 1:33 am EDT

They are the mafia bank they need to be broken up and put under federal reserve as bank of the united states

J
J
jhp123
, US
Sep 26, 2017 1:58 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

I received a call from michael anderson, [protected], who claimed to be a customs officer in las vegas. he informed me that I am a bank of america lottery winner. he told me to call bank of america in california at [protected] for a wire transfer code and a pin number. I called and received a recorded message saying they were holding 20 million dollars in an account for me. michael anderson said I need to pay 1% of 20 million dollars ($2000.00) in time payments or cash, to mr. bill bradley, president of the federal trade commission, for a final approval stamp. once the fee is paid, I can then go to the bank of america and pick up my money. the bank of america in my area said this is a scam. mr. bill bradley called my home at 10:25 a. m. today. I asked him to put notification of my award winnings in writing and transfer the money to the local bank of america in my area. i'm still waiting...

J
J
John M. Deck
, US
Jul 28, 2017 12:07 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

For the last two weeks I have been receiving calls from a mr peterson mega millions saying that I had won $5 mollion dollars, [protected]. has called five times yesterday and four times today. yesterday he gave me a phone number for bank of america and told me to select option #3. the out going message then says that your phone# is recognized and them congratulates me on winning $20 million. i'm upset because they are using the bank's name the phone # that I was given is [protected].

G
G
GrayhoundMira
, US
Feb 07, 2017 2:08 pm EST

On 1-31=17 l received a bank draft from citibank for the sale of my motorcycle, l called their automated system and check # [protected] for $ 4200.00 is not on their list of bank checks. l deposited it into my checking account on monday 2-7-17 if the check is no good do l get charged and how do l get this guy thrown in jail charles papp. cpapp1@tampabay. rr.com [protected], l still have the bike, l was waiting for the check to clear.

J
J
Judith Pinkham
, US
Aug 23, 2016 5:21 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

I agree 100%

J
J
Judith Pinkham
, US
Aug 12, 2016 4:19 am EDT
Verified customer This comment was posted by a verified customer. Learn more

YES they did since the last 20-years. First I didn’t believe this story people shared online. After more evidences are collected and analyzed I am so convinced that Banks scammed, misled, stolen and control our politicians. These crooks are too clever, they own the majority U.S. trial courts and courts of appeals to give us a run-around. Banks hire corrupt lawyers inside out the courts (using the stolen moneys called lobbyist moneys) to give the impression that they use the right codes to dismiss cases, and they never want to go through trial for fearing the truth will reveal their secrecy. This affects the productivity of the country. WE’VE BEEN RIPPED OFF NOT ONLY ON OUR MORTGAGE, BUT ON OUR RETIREMENT AS WELL since the inception of Fannie-May Freddy-Mac, of the last 20 years to 2008 and more rip-off ahead. Attached are shared links I received via network, feel free to share. BANKS MOVE OUR RETIREMENT TO LEND TO US. Don’t jump to conclusion so quick on your 401k, IRA etc, if your numbers look good, that’s because Banks controls our 401k moneys, they give fictitious numbers on our reports like Bernard Madoff did to make believe you are not being scammed, but you will discover the truth sooner or later and no courts could help you. We all are victims of the 1%; Hillary will win because the %1 paid to have her do the dirty work for them, Learn their secrecy of stealing here and how corrupt authorities will bring America the ending calamity ahead: https://1drv.ms/f/s!Aqs7zg7dRLmHaiosKlumjfcYTQk

B
B
Badri Doraiswamy
, US
Mar 28, 2016 4:11 pm EDT

After my online banking session, BofA took me to a survey page & mentioned they are giving a free gift for taking survey. After survey, I selected a pendant for my wife. It said there is a S&H charge of 5.99. I paid using my credit card. After 15 days I saw a charge of 98$ on my credit card. I asked the company which sent the pendant why they charged 98$. They mentioned in terms of agreement it is written if I don't like the gift, I've to return it back within 14 days. Otherwise they will charge 98$. BofA has agreements with such Scammers, stealers, etc. I called their customer care, they mention put a complaint online. If you take a survey & rewarded for time you take, I don't understand why they advertise they are giving free gift when it is not FREE. Nothing is free in this world. Don't ever fall for these FREE stuff. That too from BoFA. They are the ultimate fraudsters.

ComplaintsBoard
V
7:04 am EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Bank of America scam and rip off!

I am a dissatisfied ex-client of Bank of America. As I kept my personal accounts with BOA, and had not experienced any problems, I opened my business account with them as well. My business was doing well, and I took out a bank of America visa business card.

Shortly after, my business slowed down, as most businesses do. The business card had a balance of just over $14k. For 4 months I was not able to make a payment on the Visa card, and had no funds available in my bank of America business checking account. My Personal checking account had just over $8k and another $2k in my personal savings account. My wife had cashed out her 401k so we could pay for our daughters upcoming surgery.

I received a (yes just one) call from the bank of Americas collection department. They wanted to work out a payment plan. I let them know that I was just going through some difficult times and was not able to structure a repayment at this moment. Sure there was about $10k in my personal accounts, but to me my daughters surgery was more important. The $10k, along with selling my car was going to cover her surgery. Well Bank of America removed ALL the funds from my Personal accounts (both savings and checking) to payoff the business credit card.

So we called bank of America. The call was redirected to a representative of bank of America who identified himself as Tobias Thompson. He said that BOA had taken the funds to collect the debt on the business credit card. Tobias said that Bank of America had every right to remove these funds as it was in the terms of business agreement. I have read it and still cant find where Bank of America can take money from my personal account to payoff a business credit card. We even explained to Tobias how the funds in the personal account were for our daughters surgery, and that is why we were not able to make payments on the business card. They didn't care!

Read full review of Bank of America and 4 comments
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
4 comments
Add a comment
G
G
gigette
austin, US
Jun 10, 2011 9:12 pm EDT

I and my deceased mothers lawyer have been trying to get her CD's from BOA. My mother made her lawyer as the Payor on Death so he could get the CD's to be able to pay the Probate lawyer. We have Tax statements from BOA showing him as the POD however; the bank says they have no paperwork for it. They refuse to release the money. My question to the bank was how could his name be on THEIR tax statements, yet they have nothing showing him on the account? The mananger just look at me and calmly told me it was an error on the banks side, but he couldn't do anything about it...Unbelievable! BANK OF AMERICA is a ### bank...

A
A
Annoyedwithbank ofamerica
North Charleston, US
Mar 12, 2010 8:16 am EST

Same story here, They are designed to rip you off .

R
R
roz_1980
Dallas, US
Aug 07, 2009 9:21 am EDT

I am leaving Bank of America. They have taken overdraft charges out of my account when my account wasn't even overdrawn, which caused a pending bill to overdraw so they could charge me yet again another overdraft charge...that I just caught, that was a few weeks ago. I still need to get that fixed today on top of get this...I added 300.00 to cover pending charges that would have overdrawn my account, which put my account at a postive balance...instead of covering the pending charges that were already there, they put thru overdraft charges first, caused my bank account to overdraw all over again, and THEN put thru the other charges...5.00 here and there, so they could charge me MORE overdraft charges!

I am irate. I haven't gone to the bank yet, but I am on my way today..the likeliness that they will fix this? HA

R
R
Robert Owens
,
Jul 18, 2008 3:40 pm EDT

Not only does Bank of America not care they have employees that are thiefs (Tellers)!

ComplaintsBoard
K
1:25 pm EDT

Bank of America 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.

Read full review of Bank of America and 1 comment
Hide full review
1 comment
Add a comment
S
S
Sarah
,
Apr 08, 2008 1:30 pm EDT

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

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.

How to file a complaint about Bank of America?

1. Log in or create an account: Ensure you are logged in to your ComplaintsBoard.com account to proceed. If you do not have an account, please register by providing the necessary information and verifying your email address.

2. Navigating to the complaint form: Once logged in, locate the 'File a Complaint' button situated at the top right corner of the website and click on it to access the complaint form.

3. Writing the title: In the 'Complaint Title' field, concisely summarize the main issue you have encountered with Bank of America. Make it specific and clear, such as "Unauthorized Overdraft Fees" or "Difficulty with Mortgage Loan Modification".

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.

5. Attaching supporting documents: Attach any relevant documents that support your complaint, such as correspondence, statements, or receipts. Be cautious not to include sensitive personal information like your social security number or full account numbers.

6. Filling optional fields: Use the 'Claimed Loss' field to quantify any financial losses you have incurred due to the issue. In the 'Desired Outcome' field, describe what resolution you are seeking from Bank of America, whether it be a refund, apology, or corrective action.

7. Review before submission: Carefully review your complaint for clarity, accuracy, and completeness. Ensure that all the information provided is true to your knowledge and that your desired outcome is reasonable and clearly stated.

8. Submission process: After reviewing your complaint, click on the 'Submit' button to officially file your complaint on ComplaintsBoard.com.

9. Post-Submission Actions: Keep an eye on your ComplaintsBoard.com account for any responses or updates regarding your complaint. Be prepared to engage in further communication if necessary to resolve your issue with Bank of America.

Trust badge
Collect Your Trust Badge
Be recognized for outstanding customer service

Bank of America contacts

Phone numbers

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

Website

www.bankofamerica.com

Your Voice Matters: Our Commitment to Genuine Reviews

Empowering Real Experiences

At ComplaintsBoard, we believe in the power of true customer stories. Our platform is a space for authentic voices, where experiences, both good and bad, are shared openly and honestly.

Dedicated to Authenticity

ComplaintsBoard is vigilant in our fight against false reviews. Our team employs robust verification methods to ensure every review reflects a real customer experience, upholding the integrity of our platform.

Encouraging Detailed Feedback

ComplaintsBoard values reviews that come with real evidence. Whether it's a photo, a detailed account, or additional documentation, such substantiation adds credibility to your story, helping others make better-informed decisions.

Balanced and Constructive Conversations

We're more than just a complaints board; we're a community for balanced dialogue. ComplaintsBoard encourages reviews that not only highlight issues but also acknowledge positive aspects, fostering a fair and comprehensive understanding.

Free and Fair Platform

ComplaintsBoard's commitment to maintaining a free and unbiased platform is unwavering. Every review is treated equally, ensuring that your voice is heard and respected, regardless of the nature of your experience.

Is ComplaintsBoard.com associated with Bank of America?

ComplaintsBoard.com is not affiliated, associated, authorized, endorsed by, or in any way officially connected with Bank of America Customer Service. Initial Bank of America complaints should be directed to their team directly. You can find contact details for Bank of America above.

ComplaintsBoard.com is an independent complaint resolution platform that has been successfully voicing consumer concerns since 2004. We are doing work that matters - connecting customers with businesses around the world and help them resolve issues and be heard.

Use this comments board to leave complaints and reviews about Bank of America. Discuss the issues you have had with Bank of America and work with their customer service team to find a resolution.