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Bank Of America / latest b o a scam

1 United States Review updated:

I set my account for an alert to reach my email address five days before a payment is due. The payment date in any month is not set -- it floats. Therefore, the date on which the payment is due fluctuates.

Bank of America offers this alert service to customers. Supposedly to help customers make their payments on time and without incurring a late fee. Bank of America took over MBNA some months ago. My MBNA account had the same alert functions and they worked correctly. I got an alert gtom B o A for the May payment. And made my payment timely. I have a record of regular and timely payments to MBNA & Bank of America.

My account page at B of A, as of today, notes that an alert was sent in May. It has the correct email address. An alert was not sent for June. When I realized I had not made a payment, I was late by twelve hours. I checked my alert functions on my account page: they are set correctly and the list of past alerts sent does not include one for June. So B of A failed to send it.

I sent a note to B of A on my account page noting that the alert function had not sent me the usual message five days in advance of my payment date. I objected to any late fee imposed. At the time I sent the note, no late fee had been imposed so I hoped for the best. I checked the following day for a return message but none came. My account had, by that time, been charged a late fee.

Today a note arrived from B of A telling me what a wonderful customer I am and how useful the alert function is and how the Bank is so happy I use this and offering a "do it yourself" lesson in setting this up if I had any problems.

The end of the message told me that the late fee was justified and I could basically forget about having that removed from my account. So what the Bank of America does is set up a system to send alerts to customers so that customers get a sense of security in using it and relying on it for a timely reminder. But if the customer pays the bill on time too often and doesn't generate late fees for the Bank, then the Bank "just happens" to switch off the alert function in the background after many months where the customer has relied upon it.

The customer has no idea the alert function will not work as it previously did and then the Bank sends a GOTTCHA!! note with a fat late fee when the payment is late.

The Bank creates a late fee for itself by disabling the alert function without notice to the customer. Because the Bank controls the software which runs a customer's account page, it can make the account page look to the customer as if it is properly set up for the alert function to work properly. My account page shows the function is still set up to work the way it always has in the past. But, quite obviously, the Bank has disabled the alert function "behind the scenes" so a message is not actually sent out to me. Then it charges a late fee.

Scam. Complete scam.

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  • Sc
      9th of Aug, 2007
    0 Votes

    B of A had similar transactions on my account. I was in dispute over a check they returned in error since the funds were there. They claim there was some funds held although my balance reflected an amount to cover the check. No one could explain why the check was returned but that I should have been notified that funds were held. I did not receive any notification by mail or e-mail.I was not set up on-line to receive ANY alerts other than to remind me of my credit card payment. What I did receive was an NSF alert by e-mail 5 days later after calling them even though I had not made any changes on my alerts!

    On another occasion I received my credit card payment alert and since I had set it up for automatic payment from B of A bill payment services I was not worried, until I saw a late payment fee for paying one day late. I called to find out why since it was paid on the due date. They claim that from the time of the day B of A sent the money from my account to the Bof Credit Card account it posted two hours after they close for the day. Since when does B of A close in the middle of the day! Needless to say I was charged the late payment fee and my interest rate went up. Talk about crooks!

  • Hb
      9th of Feb, 2008
    0 Votes

    I just canceled my BOA credit card for their "payment alert" scam. I always pay my bill in full each month and for a while the alerts worked great but then in dec/jan they stopped coming, despite the alerts being visibly scheduled online. So, I was late that month and lodged a complaint about not receiving the alert--they took off the late fee, but now it just happened again. I logged on and saw I was three days late. No alert had been sent, despite being scheduled. The customer service rep and the manager had the balls to say it was still my fault because I'm supposed to intuit their shifting due dates. I'm done with them after ten years--and I suspect they provoked my ire intentionally since I don't bring them the big bucks through running a balance. They are total con artists.

  • Hi
      20th of Jul, 2009
    0 Votes

    Bank of America has yet another billing scam running. I use their automatic bill pay so that on the due date at least the minimum due is paid. I actually have it set to pay $50 over that amount. But here's the problem.

    If I spend enough and my minimum payment increases beyond what I have set I have to go in and change the amount. But Bank of America WILL NOT apply that new amount until the second billing cycle generates. This means that if my statement comes out on the 1st of January and on the 2nd of January I change the amount to automatically deduct from my bank account -- it will not be effective until March 1st.

    Time and time and time again BofA has caught me in this trap of under-paying. According to BofA since I supposedly get paper statements I should n=know that my payment won't be enough. Yes, I DO know. But since your system won't allow my automatic payment change to go into effect immediately what's the sense?

    I recently received a letter from them telling me that since i had a history of late payment, most reversed, that had decreased my credit line to just above my balance. It was clear that they were setting me up not only for another under-payment, but an over-limit charge. A complaint to the FTC revealed that their actions are classic predatory lending and the new law signed by the president will address. We'll see.

    When I pressed them about the decrease they also indicated that I had a negative on my credit report. I pointed out that this was 1) disputed, and 2) a notice of identity theft was on the account. The credit "manager" told me that it didn't matter because I wasn't paying on the account "aggressively enough." She even had the nerve to ask me why I was using the card. Umm... because you extended me credit because of my 780 FICO score.

    Say what? I pay the minimum due plus $50. According to BofA they expect a payment of at least two to three times the minimum due. What then is the point of having a minimum due if it isn't enough? She even asked why I was spending, any special reason. I told her, "Yes, my 7 year old daughter has brain cancer and money is tight. I need to pay certain business expenses... usually less than my minimum payment due." She could have cared less.

    BofA is the biggest scam and basically steals money from its customers. This is beyond contempt.

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