Menu
Bank of America

Bank of America review: scam and fraud! 457

D
Author of the review
12:00 am EST
Featured review
This review was chosen algorithmically as the most valued customer feedback.

I did a wire transfer using bank of america in baltimore MD johns hopkins branch to my own account in India using SWIFT codes. I was told that india is a slow to pay country and it takes about 3 weeks and no investigations would be don't till then. It has been 2 and a half months and it hasn't gone through. My bank in india has not received any information regarding this from bank of america and the bank of america is not willing to help. Every time i contact them they tell me that they are sending e-mail to the bank in india to find the status and that the money is in india and nothing can be done about it and it is possible that i lose my money. I have no clue as to how to go about it.

More Bank of America reviews & complaints

Bank of America - Incompetent Department and Service 109
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.
Bank of America - claims department 19
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.
Bank of America - Communication 18
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.
Bank of America - bad customer service 11
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.
457 comments
M
M
mary1776
Orlando, US
Apr 23, 2009 9:19 am EDT

I wanted to post this from talk show host Clark Howard's website...

Mar 27, 2017 -- New findings on how the giant monster mega-banks rip you off
RIP-OFF ALERT: USA TODAY has done some new research into how the giant monster mega-banks rip you off.

This should be of special interest to customers of Bank of America, Chase, Citigroup, Wells Fargo, HSBC, PNC, U.S. Bancorp, SunTrust and others. Here's a quick rundown of the newspaper's findings:

• All the banks allow you to overdraw at the ATM -- except Citibank.
• All the banks allow you to overdraw online.
• All the banks allow you to overdraw at the register -- except Citibank.
• The majority of the banks won't even give you a warning at the ATM to deter overdraft.

Bank of America recently settled a class action lawsuit over their overdraft fees. It turns out they had software to calculate how to generate the most overdraft fees when a customer went negative on his or her account.

A typical overdraft fee at most banks could easily be $35.

This is the game the giant monster mega-banks play. So it's incumbent on you to do a few things. First, you can take your business to a credit union or smaller community bank instead. Second, you can continually monitor your account online to make sure you're in the black. Third, you can use a bank register to track your account to the penny.

Don't let the banks play Jesse James with your money. The real irony here is that at least 3 of these banks -- Bank of America, Chase and Citi -- are like pigs lining up at the trough of federal bailout money from we the taxpayers.

And this is how they turn around and thank us?!

Meanwhile, to add insult to injury, Chase had been planning on buying 2 private jets at $60 million a piece, and wanted to spend $18 million to dress up an airplane hangar, according to a TV news report Clark saw. Chase has now agreed to delay these purchases until they pay taxpayers back.

Finally, senior producer Kim brought some perspective to the USA TODAY article by explaining how ING Direct went above and beyond when she nearly overdrew her account. Talk about great customer service!

This crazy and as long as we pay taxes these banks can always ask for more of our money to pay for their "more important lives"

J
J
johnnie byous
Corona, US
May 19, 2011 2:29 am EDT

I applied and finally after obtaining an attorney, got a small loan modification from bank of america which finalized this year. I had some damage to my flooring due to a water leak so Mercury Insurance issued me two checks, the first to get me started replacing the floor and the 2nd one to finish. The first check was fine, but the 2nd one was payable to myself and b of a. B of A is holding the money because I received a modification. Now my living room and hallway is concrete while i wait to see whether they are going to release the check. If they do, I have to take it to the flooring company and they have to sign off the check with me, then I have to send it back to B of A for them to release the funds. I pay the insurance. What gives B of A the right to take it from me? Isn't their a law against this?

I
I
Isidro Orona
Covina, US
Aug 28, 2011 9:01 am EDT

I was trying for almost two years to get Bank of America to lower my payments because i could not make the payment once it went from $2017 to $3000. I started before it went up and they told me to miss my payments so they could help me. After two years they just foreclosed on my. I had a Real Estate agent offer me money to move out and was told i was going to get evicted next. I had already lost many thousands of dollars to crooks that were supposed to help me with a loan modification. I actually almost cancelled my contract with CPAC Non Profit Law Clinic because of the BBB report showed a handful of complaints. Mr. Lanes assitant showed me how the BBB has many more complaints and law suits against them and they also showed me a long list of possitive reports printed about CPAC. They just last week got Bank of America to REVERSE-Rescind-cancel the foreclosure and now the house is back in my name. Now all of a sudden Bank of America is wanting to give me my modification... I know its because I hired CPAC Non Profit Law Clinic to sue Bank of America. If you want to find out what chances you have to sue Bank of America thru CPAC Non Profit Law Clinic you can do what i did, visit www.SueBofA.org My name is Isidro Orona from Covina and I got me house back from Bank of America because of CPAC Non Profit Law Clinic

Valerie
Valerie
, US
Aug 25, 2008 11:00 am EDT

Bank of America started ripping me off on my credit card approximately one year ago. I was making payments via my online banking (another bank) every 4 weeks, like clockwork. However, apparently my payments eventually got ahead of the "statement" date since the statements are generated every 28 days. Two payments posted to my account on the same month. And every month, thereafter, BOA considered me "late" until I caught this.

by the time I caught up with this (was getting Ebills and no reason to log in a look since I wasn't using the card), BOA decided I was a "credit risk" and raised my interest rate to nearly 40% apr. Yes, you read that right: forty.

Suddenly, my minimum payments were a mortgage payment. However, I continued to pay them. I even decided to use their automatic payment system "bill pay". Again, I suddenly get a statement that shows I am past due, 2 months worth. I call, and find out that they've been applying my payment to a "corporate card" in my name which I have NO access to pay. But none the less, after many many calls, they transfered the money back. But the interest stayed as well as late fees.

Soon after, my payments were up to nearly $500 per month, minimum. I could not make these payments. I called customer service, held for ungodly times to be disconnected by the dept who could help me.

I sent emails via their online banking. I pleaded for someone to help me pay this down! I didn't want to default on this card.

Finally after several calls, being bounced around, I was transfered to the correct dept. I spent nearly 1/2 hour of my time to give all my financial stats. IT was determined by this gentleman that my payment would be $200/month. It would freeze my account (close it actually). But would lower the interest rate to make it possible to pay this off. He said it would take about a week to process. I had to give him my checking account info and agree to automatic withdrawals from my account. We agreed on the 15th of the month.

A few days later, as agreed to, BOA withdrew $200 from my account. I presumed all was well.. Whew, what a relief to get this finalized...

A week later, I received a call from the BOA collection dept telling me that I was past due. They had received my $200 (thank you very much) but I still owed $700 in fees, etc. be "caught up". I gave the agent the schpeal on the whole plan I set up, etc. He advised that it probably just hadn't made ti to their dept. No love lost afaic.

A week after that, another call. Same thing...I was told, "oh, sorry - we'll note this on the account".

Ok, so it's fixed now, right?

Today, I recieved yet another call. Now, I'm realizing that indeed there is a problem. After several calls to different depts, I was informed that there was no way to fix this problem internally. That "I" have to call the Customer Service Assistance team. But, of course, they aren't in due to the weekend and holidays, etc. This allegedly is the dept who set up my "payment plan".

I am so frustrated. I want to pay this card off. But they simply do not seem to want to let me. First it was because I paid "too soon". Now they just continually give me the runaround when I try to work something out with them.

They claim that none of the departments have access to each's systems and notes. So there is supposedly no way for a dept to check and see if I'm indeed "on a plan". Even though I am obviously on a plan since THEY are taking my money out of my checking account monthly.

My CC limit is $9900. And now thanks to their fees due to THEIR incompetence, I'm over 10k now.

This is just plain abuse of consumer credit. I'm sickened by it.

As a contrast, Discover called me when I went a bit over my limit to see if they could help. I spoke with one person, and viola, I was setup and got it paid down in a few months.

Any help would be greatly appreciated.

F
F
FNORD
Minefield, US
Sep 21, 2009 12:03 pm EDT

Let me be bold... (I am usually humble) I have no debt of any kind. None! I'm rich. I travel/vacation out of country more than half of every year. I own 6 rental houses. I live in a 3, 000 square foot home next to a golf course that I paid for in cash on the same day that I bought it. I have approximately half a million dollars invested, even after the us stock market collapse. I have $100, 000 set aside for emergencies.

I have a 842 fico score. I had a $49, 900 credit line with mbna. I always paid on time.

In may of 2017 mbna cut my credit line in half without telling me while I was traveling out of country for 4 months. For no reason. (They admit this openly. )

I called, and the lady convinced me to apply for a credit increase whereupon it was reduced again to 12, 000 since I quote, "wasn't working"? After telling me I applying for an instant "increase"?!?! She did this while I was on the phone to complain about the 25k limit reduction!

I'm rich. I'm travel. It's illegal for me to work in canada while i'm skiing at a resort for 4 months. Sucks to be me I guess... Lol however, this was my only card I used because it had a $49, 900 credit limit. I had even canceled others. They cut me off at the kneecaps and I have a perfect credit record.

How does this affect me? I buy houses at public auction. I must pay cash for houses by the end of the same business day that I buy them. That means coming up with up to $200, 000 cash in less than 5 hours. I don't want to remove the cash from somewhere where it's earning money like stocks until i'm sure that have won a house at auction. I win a house, then I get the shortest term loans I can, and start cashing out stocks. Bank loans are 6 month, and cost a lot in interest. The credit card I can pay off in less than a month and cost me nothing. (I used the card as a fast cash buffer. )

Now, if I have to have $200, 000 sitting in an account doing nothing waiting for the day I might buy a house, I will lose money on it.

With my credit limit being decreased by mbna, I have lost my buffer to transfer funds. What they have done will cost me money and affect the value of the homes that I can purchase.

Let me confirm:
Arbitrary limit cuts are a tool to reduce mbna's relationship with less profitable borrowers (The ones that pay their bills with higher credit scores. )

Arbitrary limit cuts are used as an excuse to end a relationship with undesirable borrowers that don't use their cards much or run their credit up to the top of their limit. (Card holders that don't make them money. )

Mbna has affected my livelihood for no reason other than the fact that I don't make them money. I was faithful to them, and always paid before my bills were due.

This is the reward I get for being a good customer all these years?

Thanks mbna. You've lost my trust and my money from now on... I will avoid you like the plague and advise anyone I know to never use bank of america and advise them to remove their existing investments with you as I have.

“bank failures are caused by depositors who don't deposit enough money to cover losses due to mismanagement” - =dan quayle=-

Fnord

C
C
Chris_boston
Norwood, US
Dec 09, 2009 6:30 pm EST

The customer care of BOA is far below the standards. This is the worst customer care to which I have spoken to in recent times. I tried to register into privacy assist program of BOA to monitor my cards. I provided all the information to the rep over the phone. I did not receive any information from them after that. Now, when i contact the customer care through email (since I am not getting proper answer through phone), they say that is not possible. I have to contact privacy assist program (only through phone) and they won't even bother to answer any of my questions. I spent about an hour to write an email to them. They just replied by copying and pasting some crap about the privacy assist program which did not answer anything.
I spend so many $$$ for the accounts and this kind of customer care is not at all expected.
I will soon change to Chase or WF and even ask my friends to do that.

U
U
upset granny
, US
Jan 08, 2010 9:31 pm EST

I am a senior visitor from Canada to this area and went to a Bank of America to withdraw $200.00. The machine read my card, asked for my pin number, asked if I wanted a receipt which I did not get and then handed back my card. I was suspicious, so phoned my bank to check and yes, Bank of America had removed the funds from my account. When I approached the service rep I was made to feel it was my fault, and I was to notify my bank to lodge a complaint. I pointed out to the lady it was their machine, but as of Jan 1/10 there are new rules in place. I informed my bank and they said they had never heard of the onus being put on them, but they will do what they can. Please, any people visiting this country, to spend your money and help a recession plagued country, be very careful of this bank! Maybe, we should just stay home and spend our hard earned savings therre

B
B
Bruce Pott
Grand Rapids, US
Feb 23, 2010 9:55 am EST

I am glad I ran into this site because I thought it was just Me! I have been charged hundreds of dollars in NSF charges due to manipulating of deposits and debits by B of A to maximize NSF charges. The tactics they employed were criminal in my opinion. Tactic #1, over a three day period they would debit the largest charge first to put my account in the negative and then charge small debits as NSF when the larger debit actually occurred two days after the smaller debits. This allowed them to charge 4 or 5 $35.00 NSF charges that would NOT have overdrawn the account had they been kept in the actual order that they occurred! Tactic #2, When a check was mailed by the "Bill Pay" company(which they claimed was a seperate entity) they charged an NSF charge even though the check did NOT clear until two days later when there were sufficient funds to cover it. However, when a deposit was made by check from even the U.S. Treasury, they held the funds until the check cleared. C'mon B of A, You can't have it both ways. These tactics were changed when the government started to investigate preditory practices by banks. Note the dates of similar complaints on this website that stopped somewhere around Sept. of 2017. I really do not understand how people of good conscience actually defended these practices while knowing full well they were aiding and abetting B of A defrauding their customers. I guess it shows people will commit crimes for the pay check if the company is big enough.

Y
Y
Yoly
Moreno Valley, US
Jan 21, 2009 10:28 pm EST
Verified customer This comment was posted by a verified customer. Learn more

I was charged an overdraft fee because when I swiped my bank card as credit it created my account overdrawn. Why didn't BANK of america decline my transaction so I would have been aware that I didn't have enough money? No, they want your money. However credit transaction takes 2-3 days to process and by the time it processed there was enough money once it was debited from my account so it my account never went OVERDRAW...BUT THEY STILL ...charged me an $35 OVERDRAFT FEE...how is that LEGAL? I am submitting a complaint to Controller of the Currency. Anyone that has complaints PLEASE SUBMIT THEM TO OCC...

R
R
Ray from Illinois
Northlake, US
Aug 17, 2009 12:35 pm EDT

On 8/11, I called BoA customer service in an find out why I received a letter stating my credit line was was being reduced from $3000 to $1000 on one of my three accounts.
Since I was frustrated by the attitude of the "account manager" I decided to just close the account and be done with it.
I figured I would just payoff the $800 balance when I got the bill.

Yesterday, 8/16, my wife's card was denied when she tried to purchase $30 in groceries with a second BoA card.
The card had a $2K limit and the I had the last bill with about $1000 balance on the account.
Another call to cust. serv. and found out that there was only $1060 on the account, but the credit line had been reduced on the 11th of August without any notice.

I pay off these cards on time & almost every month.
To my knowledge, I have no other problems with my Amex, Discover, Chase Bank credit card accounts.

When I checked the bill from then third account, I saw that the credit line was reduced, too.
I just got the bill today.

Someone should be taking back that bailout cash from these guys.

I
I
irate customer
Naples, US
May 19, 2010 3:12 am EDT

After discovering what was originally involved in my loan process, I immediately called ( Countrywide) at the time in an attempt to refinance. Please keep in mind that I had a credit rating of 825 and was operating a solvent business...I had no problem making the payment, but I saw there would be a problem with the loan in the future. I was ready, willing and able to refinance. I had no bad debts at the time...This was early 2017... They refused to refinance because they had decided that the upscale area of Olde Naples Fl. would be a " high risk" area.. This despite the fact that it is one of the best real estate investment that one could make. They told me that if I could pay another 25% down in addition to my years of having paid on the loan ( 7) and never being late on a payment ...and then they could consider a refinancing... This of course, would have headed off any future problems.

Fast forward to the economic crisis... My company is struggling and on the brink of going under. I have let everything go except the mortgage... i have tried consistently for two years to find a solution w/ Countrywide and then B of A... I was completely and utterly exasperated... they would not even look at a loan modification ...
I was told on 4 separate occasions that if I wanted anyone to even speak to me about a loan modification that I would have to be at least 90 days late on a payment before they would even take the information for a loan mod.
Subsequently, I said... all right... I am going to let the payments go 90 days .. They warned me my credit would be affected, but at that point, it was a moot point because my credit ( for the first time in my life) had already been decimated.
I then proceeded to put in a call weekly attempting to apply for a loan modification. Please keep in mind, that during these 3 -4 months, I never received a call from them - I never received any kind of a late notice - and I was never contacted by either the collection or the loan modification depts. Actually, I was never contacted at all regarding ANYTHING despite the fact that I called weekly... Suddenly, I speak to another one of the thousand's of reps that have " no information" and they tell me that my home had been turned over to their attorney's for foreclosure process. I absolutely erupted... i demanded their attorney's name & phone number and all the information. They gave me the numbers and said that a letter had been sent out the previous month ( January) that said there might be a variety of possible actions...I never received any letter at all at any time...
I call the attorney.. They tell me that no letter had ever been sent to me because my house had been submitted for foreclosure but they were told not to proceed the next day - so my house was not being processed for foreclosure. They had no idea why .. they assumed that B of A wanted to see if I wanted to work something out.

I called B of A back and gave them THEIR information ( that they didn't have)... I had just listened to three people telling me that I would have to go down to the courthouse and see when the sale date was...
NOW, they tell me that I can apply for the loan modification process and that they would take the information on all my bills etc.. on a monthly basis and income etc... I gave them every bit of information and asked what the process was and how I should proceed. They told me I would be contacted by a " negotiator" once someone had been assigned the case. At that point, they would speak to me and send out a packet of information. I called back every week to see where the process was... Each time, I was told something slightly different but that I was pre -approved and should wait to receive the packet of information to fill out. Please keep in mind that I called weekly attempting to get a negotiator's name or a phone number that I could call and follow up with... Their reply: There was no way to contact them or any direct phone number until it had been assigned...

TODAY, I WAS SERVED A NOTICE OF FORECLOSURE...after being told one week ago that the loan modification application had not yet been processed and that they were running 45 days late...I called their attorney immediately and left a message. Coincidentally, I receive my FIRST message from B of A's mortgage dept...I call them back and the rep says that oh yes, it was in foreclosure but it hadn't gone to sale.. I was livid and asked what had happened to the loan modification application.. She said that it had been denied in february...? I hadn't even given them them information until April...
I then asked her why none of them had this information the last 5 months and why hadn't they shared this essential information. She said that she had no idea, but that it was clearly on my record !
I asked what happened to my loan mod application and she replied that they had records of all of my telephone calls, but that I had NEVER GIVEN THEM THE INFORMATION... Not only had I given them the information but I called back three times to review it and check the status. I had all dates and representatives names...AND THEY HAD NO RECORD OF THE INFORMATION and thus, they just proceeded with a foreclosure notice at which time... they now saw fit to finally contact me to attempt to "work something out"
HUHHHHHHHHHHH? Their suggestion was that I should make the payments and make a larger payment every month to make up the $$$ from the missed mortgage payments...I said why would I believe that she was telling me anything more legitimate than anyone else had for the last 2 years...My guess would be they would attempt to get those payments and proceed with foreclosure anyway...and anyway... if I could afford THAT .. I would have made the other payments!

After an hour of heated discussion - she took all the financial information that I had ALREADY GIVEN THEM 3 TIMES and promised to have a manager call me back in 48 hours to attempt to do see what they could do... She also said she would stay on top of the acct and call if someone did not contact me within 48 hrs...
I am sure that they will have nothing available that I suggested ( reduced overall balance )- reduced payments for a period of time...pay over a longer period of time...etc...and that they will proceed with foreclosure.

If there is anyone that would like to get a class action suit against B of A mortgage division, please let me know. They have indulged in fraudulent practices, they have instructed consumers to miss payments for 90 days leading them to believe they could work out a loan modification when they were simply going to proceed with foreclosure and attempt to get more money out of the consumers...They take down information with absolutely no intention of doing anything with it and scam the consumer...

I am at the point that I honestly believe that everyone should walk away from these banks that will not work with the consumers in a reasonable manner. It is the only way to force them into having to actually do what they " promised" Congress they would be doing. I do not know one person who has been successful in getting a loan modification... DOES ANYONE ?

Please reply of you have ever experience anything remotely similar to this?

Thank you all for your patience and consideration...

Sincerely,
JK

S
S
SickofBoA
Seattle, US
Jul 13, 2010 9:09 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

Two complaints here, moral of the story I will never do business with BoA ever again.

Bank of America has always been shady with their overdraft fees, but since I graduated from college and "grew up" a bit I've left a buffer in my account so I haven't had to deal with overdrafts for a number of years. Overdraft fees aside, BoA customer service and the interest on checking and savings accounts are dismal compared to Boeing Employee Credit Union (6.75% interest on the first $500 in each account) so I've been in the process of switching banks. The only bill I pay with a check is my rent so I moved everything else over to BECU and changed my bi-weekly direct deposit to half of my rent check until I had the BECU checks in my hand. Twice a year I end up with 3 paychecks in the same month since I get paid biweekly and since rent is due monthly it feels like bonus money. One of these three paycheck months happened during my switch so I ended up with an extra half of my rent ($402.50) in my BoA checking account. I walked into the branch so I could take out the full amount since I planned to close my accounts with them (they didn't know that). I accidentally told the teller I wanted to withdraw $405 (my rent check is $805 so it was my mistake out of habit). She went to a computer in the back by the drive through banking to pull up my account and came back with the money. She didn't say a word that the withdrawal would overdraw my account by a measly $2.50. So I ended up with a $35 overdraft fee. How the hell do they let someone overdraft, in person, without even mentioning that it would incur a fee. This also happens to be the ONLY time in my decade plus of working with BoA that they didn't ask me if I wanted a balance.

Now for the second slap across the face (chronologically this one came first but it seems like overdraft complaints are all the rage so I led off with that one). Bank of America is my oldest credit card, I've had it since I was 18. I've never missed a payment on any card nor do I have any "derogatory" information in my credit history so my credit score basically tracks my debt to available balance ratio (albeit with minor influence from the length of my credit number of inquiries and whatnot). I was recently promoted at work so my income went up and I started making major headway on my credit card debt. I checked my online banking and BoA reduced my credit limit to within $50 of the balance, without even telling me. I sent a message to their CREDIT department through their online form (from within my account so there's no security risk) asking them why my credit limit was reduced. They said they don't have access to that information (umm WHAT? they're the CREDIT department, who else would?). They said I should have received a letter in the mail. 5 days later a letter did show up. They said my credit limit was being reduced due to recent changes to my credit report. I've had credit monitoring for a while and over the last three months (thanks to a bonus that went exclusively towards my revolving debt) my credit score jumped from 650 to 707. Obviously I think their response is pure ###. I know there's a recession and a credit crunch and if they need to cover their ### and reduce my limit for internal business reasons that's fine, but I they should have at least said that instead of flat out lying about the reason for the credit limit decrease.

Whew, that said I applied for a credit card at BECU (wasn't my original plan as I don't need additional credit), was approved for a larger credit limit at a lower interest rate and received tremendous service helping transfer the balance (plus I spoke with someone who worked within 50 miles of where I live).

I wish Bank of America would fall like Lehman Brothers so smaller banks and credit unions can fill the power vacuum.

J
J
Jacob Shane Johnson
Ormond Beach, US
Oct 15, 2009 6:21 pm EDT

This bank was notified previously about abusing my account due to charges not applied by me. Yet they refused to handle my claims and instead took thousands of dollars from me on an account that was only for use for transferring funds to my mother in Texas. I had a total of $46.00 to keep it open and when somehow that account was used by unknown parties I notified BofA and filed my claims. Later to find out that I could only file a claim for 60 days from the date of calling. They specifically told me that.
After filing the complaints they dismissed my complaints and had to refile them as the lady that I spoke to must of thought I was rich and full of it. To this date they only credit me some charges from the Hartford insurance that were never authorized. They never called me to tell me the status of my claims, after I took the time to call them they again told me that my claims were dismissed and they would not refund me anything. I am a disabled american veteran and had to close my accounts there after being with them for many of years. They did not care or wish to listen. They just took the money at their own will and left me hanging out to dry. Where is the government on all these complaints filed throughout the internet. Is it maybe they found a way to cover the payback for the stimulus package. From the Poor, Elderly, Disabled Veterans, etc., , , , ,
Excuse my spelling and grammar. This just has me wondering what else can happen.

K
K
Kembra
Ypsilanti, US
Apr 06, 2009 11:25 pm EDT

Info: Standard Federal was bought out by LaSalle Bank and then Bank of America bought LaSalle Bank. In a perfect world - LaSalle and Standard Federal Banks were great - in a "cheating world" - Bank of American is the winner! I have a separate 3-ring notebook on charges (scams) that they are fighting me on - though they are legit! The name on my binder is Bank of America "Rip Off Artists in Training" Disputes!

My charge bills were due today and trying to pay them online always worked before - but not tonight - so I called - and a recording said payments made after 4 p.m. will be processed the following day. Well - great! They have been "socking" me for tons of fees - guess we are adding more taxpayer money to cover the taxpayer money we paid to the government. I sure would love to have even a small fraction of the bonus money they paid employees with our money! I have never felt so cheated by a bank - guess they have to make money illegally as well as receiving it! Kathy

C
C
Cassie28
Burlington , US
Aug 26, 2009 1:58 pm EDT

Ive been with the same bank since i was 16 even though they have changed the name a couple of time iam now 29 as of feb of nov 2017 i staeterd to have problams with the bank getting over draft fees and so one i wuld cash my pay check and go to the store before i went to work and and buy lunch and my card would be denied saying i have no founds even though i just put 500 in the bank i did not think much of it at the time till i lost my job in feb and started to get letters in the mail that i was over drawing my acount even though i was not touching it well i got that fixed and the money refunded back to me. then in june i was being charged over drafts for pending charges even though my records show the money had been takein out of my account but when i posted i was charged a over draft when i called the bank they tould me that if i bal my check book i would not of overdrafted well the thing is i do if i have $50.00 in the bank i use my card at a store and spend 40 of it that should leave me with 10.00 left so i would not take any more money out maybe 5.00 well when the pending charge would go through it would say i over drafted becuse the money was not there but on my online statement would say eveything is fine now just today i find out that they took 36.00 out of my account for a claim i had going on since feb they gave me a temp credit back then for 36.00 the one of the places that had takein money out gave me the 16.00 back and the other one never gave me the 19.00 so i get a letter saying that there records show they owe me 19.00 and it will be in my account on the 25th and today the 26th i had my unemployment put in my account in the amount og 86.00 you would think i should have 105.00 in my account well i called to see what i had and they tould me i only had 76.00 well confussed i calld the bank and they told me thta they had taken the 36.00 out since the one company refunded my money of 16.00 so i then asked why 36.00 was takin out when the other company never gave me the 19.00 back they said becuse then i would of been credited twice for the 19.00 even though i never received it from the other company so i asked why they had put 19.00 in my account and they told me cuse they owed it to me but on the other hand they took it back witch but at 13.00 less then what i would have now when i tould them i did not understand they said they had gotten the 19.00 from the company that owed me so i had said then i only owed the bank 16.00 since i got that back from the copanyand they said no i owed them 36.00 so i was told three different things it makes no sense ive ben treated like crap by the bank mgr when i went to the bank over 140.00 in over draftt fees i just had to deal with last week on pending trans that i made on the 14th and they went thrugh on the 17th when my money had gone through i went in to the bank when they opend and told the mgr i had a problem and the said to me good moring how are you today with a additude and would not help me intill i repeated it back to her then started to walk in her office and in the same tone said if i wanted to discuse it i need to follow her once in there i began to explain to her and tried to show her my stament i printed out at home and she said she had it on her computer and started to tell me was wrong and she was looking at somthing differnt and i was reading it wrong but she refused to look at my papers and then tould me to balance my stuff better when i tould her my check book said the same thing as my online statement she told me she wanted to see it i told her i did not have it with me witch i felt that was out of line i will say i did get loud with her i was very upset with how i was being treated at one point she turned the computer to me and said can you read this i said yes but my online says difrent and i dont understandshe then yelled at me can i read wht there stuff said and wanted me to read it out loud to her i then lost it and said i know how to f-ing read i was out of line with that i finally had enough when she told me i was not a nice person my boyfriend tried to explin why i was so upset i had stormed out of the bak and he stayed behind she gave him a copy on my stuff witch she had no right to do iam sooo done with this bank they steal ur money treat you like ### ive never had a prob lik this in my life iam now looking for a new bank and will have my account closed by the end of the week

A
A
andrew loebl
,
Nov 27, 2006 12:00 am EST

Apparently MBNA was purchased by Bank of America. Those of us who had credit cards with MBNA seem to be having a lot of trouble accessing their statements on line. The web address: ibsnetaccess.com just does not work, no downloads. just a plain white page. I had two MBNA accounts, one Mastercard and one VISA.
Too bad about this because there are a lot of angry people out here and I hope all will consider abandoning their cards.

Bank of America is too big for its own britches.

T
T
tisme
, US
May 05, 2010 11:39 am EDT

Bank of america sold (?) our mortgage to bac. soon thereafter received a letter stating that we had to have flood insurance or secure a letter of map amendment (loma) from fema.

long story short, after jumping thru all of fema's hoops and many dollars later, we received certified loma and sent it to bac flood dispute dept.in early april. the only phone number provided was to insurance dept. which I have called frequently. the loan dispute dept. has no telephone or email. thus they cannot be contacted. supervisors in insurance dept. do not accept incoming calls. the representative have to email supervisors to request they call the consumer. the supervisors do not call. there is no website for bac! one must wonder if this a legitimate company. and, further, when you call the insurance dept. number, the recorded voice simply says 'thank you for calling insurance dept'... no mention of bac!

T
T
Thans
Nekoosa, US
Dec 06, 2010 5:01 pm EST
Verified customer This comment was posted by a verified customer. Learn more

I lost my second job and had my income reduced by 3% through statewide furloughs (I'm a state employee). I got behind on my mortgage payments and heard about the Home Affordable Modification Program through a friend. I applied for modification through Bank of America (BOA) in early August 2017 and was able to send in payments for all of the months I was behind. BOA sent three of my checks back. I called them to inquire as to why and she told me my home was in foreclosure. She said I would need to send a cashier's check for $3804 for the four payments as my personal checks would not be honored. I Fed Ex overnighted the check for that amount. A few days later, I got an overdraft notice from my regular bank. BOA had cashed the last check instead of returning like the others and overdrew my account. I called to find out why they had not honored three personal checks and had the other one. After being put on hold on and off for an hour, and explaining to the cust. rep that I had been accepted into the Modification program, she finally told me that my mortgage had NEVER been in foreclosure and that I should continue to make my modification payments (preferrably by phone so I know they are received on time). I have paid in full all my mortgage payments, but yesterday I was served with foreclosure papers! The forms state that I havent made a mortgage payment since MAY 2017 although I have a cancelled check for MAY as well as my statements saying the $3804 cashiers check paid June, July, Aug and Sept. I also have my bank statements confirming my OCT, NOV, and DEC modification payments...all by the first of each month.
CAN THEY DO THIS?!? I AM BESIDE MYSELF. I cannot afford a lawyer so I am sending to the court and their attorney all my proof.

S
S
Shirley Chow
,
Feb 25, 2008 10:49 am EST

When I first transferred my balance, they told me the rate would stay 3.99 until the balance is payoff. I did transfer over $20K balance about 7 or 8 months ago. Two months ago, I asked them if I needed to xfer another $ 2017, is the rate still the same until I pay off. They replied yes, so I transferred the 2k. This month, when I received the statement. It went up to 15.99, the min. payment went up from approx. $300 to $ 600. I called they said they never offered this kind of rate until you pay off. The rep. said that he could lower it to 10.99, but I still had to pay the 15.99 for that month. So I asked him, how long this 10.99 will last? He said until you pay off the balance and maintain the account in good standing. Isn't it contradicting to what he said before?

K
K
Kathreen brice
Englewood, US
Feb 16, 2012 2:31 am EST
Verified customer This comment was posted by a verified customer. Learn more

My son opened an account with bank of america last friday, feb. 10, 2017. This s the first time he has ever open an account with a bank. He went to pnc bank in englewood nj on feb. 14, 2017 to take out $10 and the atm retained the card. On feb. 15 2017 he called pnc to let them know had happened. They told him that he had to to boa to get another card. He called boa and they told him to come to the local branch and they can give him another card. Mind you the atm card he had was a temporary card. When he went to boa they old him that the account was closed. H asked why and they couldn't give him an answer. He went home and called several times and spoke to about 4 customer service reps and each one of them told him a 4 different stories. Either he was overdrawn or he has money in the account and they will mail him a check. My problem is why did you close the account and what is the total on his account. When I came home I called again and the rep told us that his account was active. All he need was another cd. Sh transferred me to somebody else and told us that the acct was closed because they can close the account anytime they want. What kind of answer is that. Very unprofessional. I am through. What should we do.

D
D
disgruntled
Tin, US
Feb 03, 2009 5:27 pm EST

The Bank of America has frozen my home equity account. They maintain that the price of houses in this are is the reason for the change.

The original line of credit amount was based on the value of my home in 2017. As you can well imagine, the value of my home increased more in that time than it has declined during the recent housing crisis. Obviously the given reason for the freeze is bogus.

Ironically, my entire borough was reassessed and I received the new assessment from my town today. Even that is greater than the basis used for my home equity line of credit in 2017.

And to add insult to injury, there were two other mailings from BA. One, I received a letter from BA saying I had been pre-approved for a loan up to $30, 000. I also received notice of my next HE payment and included with that was a "check" to use for transferring a high-interest balances.

T
T
trlouise
Emeryville, US
Jul 27, 2010 4:36 pm EDT

I called the Repayment Financial Hardship dept. and asked for assistance to reduce my monthly payment due to loss of income and they wanted to know my budget. All the details of my life. I found it offensive and they turned me down because I wouldn't tell them my personal expenses.
When I called Wells Fargo they dropped my interest rate more than 1/2 for 12 months until I get on my feet.
Yeah Wells Fargo!
Who bailed the banks out--the government! Banks need to bail their customers out!

F
F
Frustratedone
Las Vegas, US
Jun 23, 2009 1:56 am EDT

This is the second time I used the Bank of America new ATM's and had a horrible experience. I went to despoist $450.00 cash and it only took $300.00 of it at first and spit back $150.00. I put the $150.00 back into it and it took the $50.00 and spit back $100.00 advising it was crinkled. It was a new $100.00 bill. It really didn't need to be straitened out, but I rubbed it flat anyway and put it back in. It spit it back out again. I tried this 4 more times with no success, so I figured maybe it was just the ATM, so I went to the ATM next to it after waiting several minutes to complete the transaction. That ATM did the same thing. I tried it several times there with the same results. I then just gave up. It is a good $100.00 bill? These machines are horrible and very time consuming. I don't think it was a smart move on Bank of America. I get off at 6PM from work, so I don't have time to go into a branch. The old machines worked much better. Please give us our old machines back or make something better.

L
L
ladytraveler
palm bay, US
Nov 23, 2010 4:10 pm EST

In early July I thought I would see if i could get my loan modified through BOA.Since going on SS My income was greatly reduced. I have never been late on my payments since moving in, 1997. Here is where the garbage starts. After 1 month went by I called for an update . The person on the other end asks may I ask why you are doing this, and when can we expect payment, also last 4 of your social. She replies also we need and updated bank statement showing your name and address on it.Well I replied I am not a mind reader
and you have not communicated this to me.Here comes the real shocker, mind you nothing at all from Fed-Ex.I get my December payment saying $600.00 dollars due, where my normal mortgage is $434.00.These idiots set up an escrow account after I had already taken money from my 401 to pay property taxes and homeowners insurance, which by the way these other crooks keep raising every year for some reason or other!Everyone thinks we are doomed in Florida! Can't figure why they are not complaining about hurricanes in other states.Florida is the rip off state of America. Back to the rest of the story. I call again to opt out of their stinking waste of time program and was told to call escrow department to have this adjusted. The woman on the phone informs me that if you have a loan with Freddy Mac which I don't you can't cancel escrow account, buy now my blood pressure is about to explode. The moral of the story is I am not done fighting these criminal bank that think they can get away with this crap. I have sent a complaint to the Florida General attorney and also am contacting a hungry lawyer. Has this happened to anyone else?

R
R
robin
,
Oct 28, 2008 12:20 am EDT

I have been a customer of MBNA since 1994 which always had reasonable rates 8% to 9% since Bank of America bought them the rates have been consistently going up requiring numerous phone calls to keep them reasonable. On my last statement it was 12.99% bad enough then I get the statement this month and it up to 27.99! I understand this is happening to many, many customers. I believe they are doing this to customers that they know pay on time in order to recoupe loses for their bad business deal ie: Countrywide purchase and bad house loans in general. This has got to be illegal. PLEASE LAWYERS ADVISE. THANKS! B of A make up any lame reason for increase even if you pay on time and more than minimum.

S
S
stacy
, US
Feb 14, 2009 10:52 pm EST

I believe BOA has charged me error on numerous occasions...Last Fri. 2/6 I made a couple of purchases, I realized I was in the negative so I made deposit by close of business day to cover the item pending which put in positive.

That Mon. 2/9 I needed unexpected auto repair. On 2/9 I was charged 2 $35.00 NSF for the item on Friday 2/6 & NSF of the transaction on Monday = 105. How is that possible. Let me mention I made a $200 on 2/10.

The Customer Service Rep and the Mgr. said b/c I swipped my card on 2/9 it caused them item on 2/6 to overdraw, even though I had the funds to cover the item on Friday. The mgr. went to say that 1) Funds must be available the day you swipe your card & 2) the day the merchant sends in the receipt.

Funny thing about that my account never shows me in the negative for the transactions done on Friday but yet I was charged $70 bucks which casued a ripple of affect so know I have incurred about $140 dollars worth of NSF fees.

K
K
Kat Glessing
Healdsburg, US
Mar 21, 2009 2:36 pm EDT

Do not know all the info about companies..just what the bank told me..I was accused of helping 2 Intl companies try to defraud Bank of America. The bank would not allow me to talk to them, just closed out all my accts and escorted me out of the bank while insulting me and calling me a terrorist the whole time. They were extremely rude. I have been in customer svc for 25 yrs and have NEVER treated anyone w/such disrespect. I did NOT give any info out to these companies however it was reported by them to me that if I would not give out my acct info they had ways of getting it..w/out me..the acct they tried to debit money out of, I didn't even know the acct # yet as I had just opened it and it had a zero balance.. furthermore Bank of America instantly turned me into Chex Systems..where now I cannot open an acct for up to 5 yrs. I reported the activity asap, I saw the attempted transaction on that acct when I checked my info at 10pm at night..was at the bank next morning when they opened..and they were nothing but ACCUSING. I have tried since to visit the branch to speak w/anyone who would listen ..and they just say they've terminated all business w/me and escort me to the doors...Can you help me please..?
The bank did tell me that the companies that did this were not LEGIT...I got their names off emails they sent, telling me they got my resume off career builder and Hot Jobs..but I did not release any info to them whatsoever; what they got, had to be online someplace.. They tried to debit $1.7 million out of my new acct ..that had a zero balance..and I did not yet know the acct #...HELP?

L
L
ljlu
Enfield, US
Jul 02, 2009 3:18 pm EDT

I never applied for or asked for a Bank of America Master card. My bank was bought out, and Bank of America sent me one, one day out of the blue. Within a few months BoA was told to close that branch because they owned too many in our stae, so close together. For years, I didn't even use this card, once I did, BoA began to raise the credit limit again and again, tempting me to spend more and more, but I ddidn't.
Finally, after doing some checking on what makes a credit score even beter, I wrote to them and asked them not to raise the credit limit any more on my account with out asking me frst, I just didn't think it looked good. I have never missed a payment or been late ever, on any bill for any reason, ib my lifetime, and I am in my mid 50's and been a BoA customer for years now. My credit score is excellent, I just checked again w/all 3 credit agencies.
First BoA began sending statements late, however, I knew the due date and I always pay them early, I still payed on time, even with BoA's little game of a black out date, where when you pay they claim it was for the month before, not the month you sent it for. Fortunately I never fell for this games of theirs either. Then they told me they were changing my fixed rate of 8% to a variable of 14.24% and so my option was, not to use the card and pay off this debt amount. So, I told BoA I refused to use their card again and would pay it off at the rate of 8% fixed that we agreed to. However, I got a refund on a purchase I made before any of this happened. BoA was going to claim, "Since I used the card after the change date, I had to pay the high rates"..I argued It was a refund, not a purchase and it was still before the change date, of their "sudden" change in terms".( which I feel is a contract breach) I called Senator Dodd. Now BoA has stopped the 14.25% for a "refund", which indeed was NOT a purchase, so I am back to 8% again. To get this I had to take the whole purchase that was made 2 months before any changes to the acount and move it to another card! However, BoA did accept the refunded money from the merchant! This is blackmail.
Now BoA has changed my credit limit to the amount due! This ended any thoughts I may have had of ever using that card again in the future when they end this nonsense, even in an emegency, not that I would at 14.25% variable! Anyone with an excellent credit rating should never pay more then a single digit amount for a credit card, there are too many other banks that would love our business.

I've never paid over a single digit for interest in my life, and why should those of us w/good credit pay higher?
Now, this change of BoA, which I feel is a breech of contract on their part, is becoming lower then low, as they are trying to ruin my credit score. Because of BoA, it "appears to a creditor that I have spent to my limit on my Bank of America Master card", which I didn't do, they lowered the limit on my cards by 50% to the amount due, , "to make more money". Their claim to me on the phone when I called to ask why they were doing this to good customers of many decades, they claimed. "They weren't making enough money on my account"? Until 2017, I rarely used the card and I have in the past shown that I can spend and pay it all off. Now that times are harder and our children need help, I have helped them, and now I am still paying well over any minimums they throw at me, I pay 10% or more each month and I don't feel I owe a lot . I feel given the breach of contract by BoA and their promise, "to not change the terms unless I defaulted, missed a payment, or spent over my limit"..I haven't done any of these things, ever! Bank of America told me on the phone that Chase Bank and Citi Bank we're all going to do the same thing.
If this is the truth, and since they all seem to know this before we Chase Customers are told, isn't this conspiracy between the three banks to defraud their customers? How can one bank anounnce what the others will do and not have spoken to them?

If there is a class action law suit, I want to be part of it. I have heard that since Dodd placed NO ceiling on interest rate caps, and the banks can raise the rates until the new "Consumer credit card Bill" goes into effect as much and as high as they want to, for no reason to anyone, we'll get no help until next year, and by then still no caps, that the Banks will continue to charge as much as they wish to, and we can not even file Bankrupsy, should we ever need to.

But wait, there is more. The three banks are going to now DOUBLE the minimum payments due from us, from 2% and 5% to 10%.or more, due as their new "minimum. So, if you pay 800.00 now you'l be paying 1600.00 soon a month, and since this is their minimum, we are all in trouble.
These means, for me, that my now paying off 10% of the balance monthly will become "only paying the minimum", and further damage my credit rating should I attempt to get a loan to get rid of these slave traders and consumer thugs. Congressman Liberman in my state, had his spokesperson call me on another mater about AIG, Lieberman's office "feels that the companies should be able to charge as much as they want to in interest, and that "Not everyone should have a credit card, and yes what they are doing is fair, "they have to make money too you know". (Lieberman also isn't going to support Obama on Health care either, so be prepared)".

Every one of us should not be defrauded by Banks, lured with low rates, having them raise your credit limit without asking you, then if you ever use it they lower it to amount due, , and if you use it, they throw out their contract with you, they change all rules and ruin a persons credit score, "just because they can" and Congress does nothing to help we the people, After al these senators will tell you, it's "Because they aren't making enough money on our accounts and Banks need to make money too"?

Please, Include me in if a class action law suit opens. The Banks borrowed easily from us and we will pay for their "loan" in the near future, count on it. These three banks need to be stopped and some class action lawyer should step up on this one for the people of America, especially those of us who didn't break a single rule.! Not that the rest of you who they hurt shouldn't go after them also.

M
M
Minnee
Peoria, US
Mar 08, 2011 9:44 pm EST

It is obvious that Bank of America does not want to work with people, they teach there customer service representatives to lie and give the consumer the run around. In November of 2017, when I called there loan modification department and told them there was a chance of imminent default they told me that I qualified for the modification and they were mailing the modification package out to me. Finally I missed my payment in January, one cause I could not and two that maybe it will get their attention. ...it did alright ...since then I am being hounded by their Loan Counselling department. Today is the 8th of March, 2017 and I have been receiving threats os foreclosure calls from there loan counselling department at least 15 times a day but the package has still not arrived. There reps kept telling me it has been mailed and re-send by Fed Ex...where is this elusive package. And today I called again and their representative tells me the package was never sent out. I have the ID numbers of people I spoke to.

M
M
madinmaryland
Oakland, US
Jun 14, 2010 3:00 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

A few months ago I received a call from an overly aggresive person saying they were representing Bank of America. They were offering a credit protection plan for 12.99 a month. I told them no, but agreed to have the materials sent to me for approval. My answer "yes" to the sending of materials was enough to activate the program and the monthly charges began. Through a series of phone calls and rising blood pressure, I have supposedly had the charges removed. In the meantime, hower, it has affected my credit score. Whenever banks call offering extended services, I encourage everyone to say no, no, no. The telemarketers are scam artists and banks are not serving their interests well by latching on to these companies.

M
M
Meagen B.
Sudbury, US
Aug 01, 2012 2:13 pm EDT

I was cashing my payroll checks at Bank of America. They kept HARPING on me to open an account. Finally the Assistant Manager told me about an $150 cash offer to set up an eBanking account. He did not mention that it required any other type of direct deposit other than using the ATM machine to conduct all of my business, which I did. When I went to check on the money to be rewarded to me - I was told by an online customer service rep (CHAT) that I needed to have direct deposit on the account. No attempt to apologize or offer to deposit the money - just wham bam - you're stupid ma'am. Well, I have news for them...it's just as easy to close my account as it was to open it. Except they seem to forget about the internet and the power of a REALLY ANGRY customer...or should I say soon to be ex-customer.

C
C
Chris C1234
Los ange, US
Aug 08, 2009 4:22 pm EDT

To day I was visit bank of america for deposit my paycheck
I waited line about 5 minutes but banker refused deposit my check
and another banker lead me ATM machine

I was waited line because in person deposit but I lost my turn.

So I talked with branch manager and he told me that that's our policy.
we don't want deal with small amount or check deposit he told me that.

and I don't care If you compliant with bank of america headquarter.

This branch is wilshire - westmoreland LA branch.

F
F
Freglane
, US
Apr 26, 2010 5:50 pm EDT

I've experienced one of most horrible customer service after calling the Bank of America (BofA) toll free number. The rep made jokes about the payment I sent the previous month to pay a credit card balance that BofA never credited to my account, plus posted a $39 late fee. He said that live was though and should get over and send a "good" check.

In September, I sent 3 checks to pay my credit card balance (never missed a payment either with them or any other bank). I received a letter stating that they could not honor one of the checks because it was a cash advanced check issued by a financial institution from the same FIA group, what I understand. But, one of checks was a personal check for $8, 000 from my checking account (with more than enough funds to cover it) and the other was another cash advance check from another financial institution. Even though the fact that I sent 2 cash advance checks may have sent the wrong message, I don't have any balance at all on those accounts and was trying to lower my over all interest with a couple of offers, since BofA had recently increased to an insane 17.9%.

J
J
Jim McPherson
Sarasota, US
Aug 04, 2010 7:50 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

This is the letter I faxed to boa today. I still find it hard to believe what they've done to me and my credit score... For no reason that I can think of...
Should I seek legal damages? I'm sure I would lose. With the cancer and treatement side effects I don't have much energy. I guess I was naive...

I am writing you today to express my extreme disappointment (And disbelief) about how i’ve been treated by boa. Prior to my finding out recently that I was reported by boa to all 3 credit agencies that I was 90 days late on my mortgage loan I thought boa was a caring bank.
The reason I thought this is because last september 2017 I was diagnosed with a rare type of cancer. I immediately started undergoing daily high radiation treatments. By november 2017 I was so sick that I could not swallow and had difficulty talking. I had to have a feeding tube surgically placed into my stomach to receive nutrition because I was unable to swallow. During this terrible period I called boa (With much difficulty talking) to ask if they had any special programs or options to assist someone like me – a good customer that expected to be back to work etc in just a few months but would appreciate a break with house payments for 2-4 months since I was unable to work and was feeling very stressed about my finances. I was told by a helpful boa rep. That I could receive a special forbearance agreement and my monthly mortgage payments would be suspended for 3 months (Interest etc would continue to accrue). When I heard this I was thrilled because, while I could and would continue making my payments on time every month as I had for the previous 9 years, a 3 month break would relieve some of my financial stress. I was so happy and pleased that boa had this program to help people undergoing an unusual and temporary situational stress. I soon received a contract that stated I would not need to make payments for dec., jan and feb. (12/2017 – 2/2017). I was very happy.
I was boa’s biggest fan at that point. Suspending my payments for 3 months while I was receiving chemotherapy. Wow, a big bank actually caring that I was sick and giving me a break for a few months. I told many friends and family how helpful boa was.
I received the contract, reviewed it quickly (As I was extremely ill and thought I could trust boa) and returned it.
I guess I was painfully naive or just plain stupid.
Shortly after my cancer treatment ended I returned to work and tried to get on with my life. I did sell my home (That was financed by boa) in march 2017.
I recently discovered that the 3 months of suspended loan payments was reported by boa to credit agencies as me being 3 months late on my payments! This report has ruined my credit. I contacted boa thinking this was some kind of error. They now tell me that it is stated in the contract I signed that while they were suspending my payments for 3 months they were still going to report me as late to credit agencies. I am in disbelief. Why would they do this to me? What do they have to gain? What purpose does this serve to boa or anyone? If I had realized that this was their plan (To give me 3 months of suspended benefits but reporting me 3 months behind on payments) I would never have signed the document and would have found a way to make my payments on time every month as I had for the past 9 years. So now i’m going to suffer for years because boa wants to kick me while i’m down?
For the life of me I just can’t understand what their purpose is.
Why won’t they take this off my credit report? Yes, I signed this contact….. Yes; I did not understand this point in the contract…. But again…why? Is it punishment for being sick and asking for some help?
• 9 years of on time payments
• boa signed agreement for suspension of payments for 3 months while undergoing daily cancer treatment
• now reported as 90 days late on credit report
Why? Punishment for asking for and receiving help? There is no other reason!
Let’s end this now. Please fix this.
Jimrdwarrior@yahoo.com

S
S
SSt
, US
Sep 15, 2009 7:06 pm EDT

Bank of America, and their scandalous, outrageous larceny via usury fees must be stopped. I have been a Bank of America customer from the very beginning of the institution, as they'd taken over the bank I'd been with a decade before their inception. Every month, for decades, my husband has had a direct-deposit sent to our checking account, and from there I transfer funds to either savings or line-of-credit. This month, I did the same, and much to my surprise, I received a postcard in the mail showing four "overdrafts", which Bank of America paid, but fined me $140 in fees. I called to correct the obvious mistake, for our account had about $6000 available to us. One of the "bounced" debits was a book of stamps my husband purchased the day of his direct deposit;(before the deposit we had about $300 available.) Three other purchases, between $20-$30 also bounced. I noticed that the bank put a large check through on the same day as our deposit, but held my transfer out. Their explanation is that I did not make a transfer, that I made a payment. Call it what you will, I thought, the money is there, so USE it! Unfortunately, Bank of America intentionally held out the smaller purchases I had made, which should have cleared, but did not when submitted after the large check emptied my pre-paycheck balance of $300. They collected a $35 fee for four items by submitting the smaller debits--made days before the large debit--after the larger debit. It is my understanding that this is their regular practice; they claim they submit checks out-of-order so that they can put the larger--more important--checks through first. Everyone knows it's so they can bounce our checks. How'd they get my $140 anyway...I didn't even have enough for a book of stamps, according to them?!

I've spoken to six different "customer service reps"--a misnomer if there ever was one--and my branch manager, who said he'd refund me half of the fees. I said "no deal--Bank of America deliberately held out my transfer, and STOLE my money." Why should my husband and I, two very hard-working people, give Bank of America anything more than we already do: gigantic finance charges, on top of regular monthly fees, so they can keep OUR money. Incidentally...if one was to transfer money from one person's checking account to another's account in, say, California...it would be instantaneous. (I've done this.)It is such CRAP that they have to hold out transfers OR payments. That money was GOOD and already cleared and in our account. How DARE they take our money!

Go on to any number of sites by searching titles such as "Complaints Against Bank of America" or "Bank of America Rip-Offs" etc. These deceitful practices seem to be the norm. It is so sad, because so many of us struggle just to make ends meet. I am a student, part-time worker (of three jobs) and a mother of three. My husband works two jobs (including a graveyard shift.) I cried when they took the equivalent of 16 hours pay---FOR NOTHING!

B
B
belfran
, US
Aug 19, 2009 7:29 am EDT

I've been a loyal customer of BofA and have been to the above branch for years. Today when I went into the Bank (inside the Lucky Store), I found people lining up at the ATM Machine but no one waiting at the counter. I approached the counter, a teller by the name of "Jacklyn" asked me what I need and I was told to use the ATM to deposit a check. I asked if I could deposit at the counter, she threw me a deposit slip to fill in (despite I've already slided my bank card showing my long list of accounts) and ultimately I've to fill in the slip (which I did for the first time in my experience at BofA) and after the deposit, she never asked if I need any other services. All thru the procedure, no greeting, no smile or word of thanks. I just wonder why BofA will hire such individual - there're tons of friendly tellers available in San Jose. Kindly look into it - customers will close account easily in view of today's competitive market.

S
S
Sean Horan
Orange Park, US
Mar 22, 2011 7:59 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

unbelievable situation. As we are communicating with the pay-off dept. and they are giving me amount to pay, I make the payment with a certified check along with the payoff slip and they take the funds and split them up to apply towards a late fee charge which gives me a 900.00 balance on my principal which they are now applying additional interest to and to make matters worse the home is undergoing extensive rehab and we cant get h.owners on it so they force coverage on us for the face amount of 160, 000.00 which is twice the original amount of the loan and the only insurable interest they have on this property is for under 1000.00. I have tried very hard to get them to reverse the payment and then we can negotiate the additional charges so we can get our deed but BOA is very obstenant to the point where we want to remortgage to get away from the crooks that they are. They have been working hard to make our loan grow in size and not go down. What are we supposed to do?

J
J
Jack Turken
,
Jun 11, 2008 1:55 pm EDT

We had a CD with Bank of America that apparently was scheduled for roll-over the first week of June, 2017. No notification was sent until [protected] when we were out of town. I called the officers telling them that less than two week notice of renewal was not standard, especially since the rate of return offered was considerably lower than comparable banks. The bank officials I spoke with were completely inflexible despite their agreement that the usual time of notice was at least twenty days. The penalty to terminate the CD would offset any gains in placing the money in another bank. I will NEVER deal with Bank of America again.

L
L
lindajobruton
Manteca, US
Jan 12, 2010 8:28 pm EST

I had a credit line of 12.4k this morning with BofA. A few months back my daughter (lives in Pennsylvania) had an emergency and I’ve been trying to keep my head above water since then. After trying everything else, I decided that I should transfer $$ from my BofA CC to my checking account and consolidate two credit cards; both of which I am over-limit. So, instead of HELPING me, Josh Brown (of BofA) says that they cannot transfer funds from my CC. Oh, and by-the-way, he closed/cancelled my CC so I have NO credit there now. I said, “So, I called you for help because I am drowning in fee’s and, instead of helping me, you FURTHER damage my credit by closing my credit card?”
Anyway, I’m frightened. Add to the stress, my husband has NO idea. He’s a wonderful, hard working man but he’s never had children so he doesn’t quite understand the panic a parent feels.
I am not lazy either; I just got over two weeks with pneumonia caused from working 90+ hour weeks. I have vowed to cut back to 60-70 hour weeks!
I am scared to death. I am not looking for a way out of my obligations; just help for right now.

R
R
radev
New York, US
Jun 29, 2011 1:42 am EDT

A short summary of the complaint follows:
Bank Of America has given me a credit card with a $1.50 per month minimum interest rate. It is supposed to apply when I haven't paid my previous balance in full and the remaining interest on unpaid balances is below $1.50. Several months ago I paid my balance in full but I continue to be charged this $1.5o each month. It took me 10 customer service agents and more than 3 weeks of back and forth with BofA to understand their scheme. Here is a simplified version of what is going on: on January 31, I get a statement for $2017. I pay it in full a few days later but not until I have charged a purchase for $30 on the same credit card. So, here is what the bank does: when they receive the $2017, they allocate it first to the new purchases and then, to the balance from the previous month. This leaves me with a previous-month balance of $30. Now, this $30, being larger than $0, causes a new interest charge the next month of a few cents, however, since it is less than $1.50, the bank charges me again the full $1.50. This way, I can continue to pay my previous balance in full each time and, as long as I charge anything to the card in the new month, I can continue to be charged the $1.50 indefinitely.
Isn't BofA required to pay off my previous monthly balance when it gets my check, before paying off purchases made in the current month?
Note that, as long as I keep charging new purchases to this account, I can never practically pay off the balance unless I send in a check for the previous month's balance + the current month's purchases + the interest generated since the previous month's close.
Note that it took 3 weeks and 10 customer agents to explain to me what happened. I have a PhD and I am very patient. Most other customers in this situation would not have questioned the fee or would have given up after the first 2-3 attempts on the part of customer service to give them misleading answers (and I got several such answers, including a reply confirming that I had indeed paid my balance in full). It is clearly a stalling technique on part of BofA trying to obfuscate the situation.
I hereby allege that BofA has not properly disclosed the rules for charging this interest, that it has found a way to squeeze out millions of dollars from their unaware customers, and that it has a policy to obfuscate the solution to the problem in order to accumulate further gains.