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Bank Of America / scam and rip off!

1 Hollywood, FL, United States Review updated:
Contact information:

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!

Va
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Comments

  • Ro
      18th of Jul, 2008
    0 Votes

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

  • Ro
      7th of Aug, 2009
    0 Votes

    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

  • An
      12th of Mar, 2010
    0 Votes

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

  • Gi
      10th of Jun, 2011
    0 Votes

    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...

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