Bank Of America / account closure fee
I opened a checking account with bank of america at the lasalle & adams branch in chicago. They gave me an account number, temp checks, and an atm card. The woman told me to make sure to fund it with at least $100 on that same day to complete the process. Two days later, I find out that my balance is - $40. It seems that they decided to "close my account" due to information from check systems. They put a freeze on the $100 that I deposited, and then charged me $40 to close my account!
I told them that this was a non-disclosed fee, and they said that it was a "research fee", and that research fees were disclosed. But it's not a research fee. It's an application fee that seems to only be charged to those who are not accepted as customers. Had I known that any part of my deposit could be taken as a fee for applying for a checking account, I never would have opened it.
The racket is to make it appear that you have an account, when in fact you don't (If they are still screening you). That way, they can say that they are closing it instead of denying your account application.
Has anyone else been charged these "research fees" or "closure fees"?
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