Bye, bye BoA holes. This frog jumped.

mikea

mikea

Touchdown! Greaser!
Gone West
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Feb 12, 2005
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Lake County, IL
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iWin
So I just got my round tuit...


You may recall that Bank of America bought my bank. I didn't want anything to do with them so I opened a checking account elsewhere.

In the meantime I got lots of mail telling me about the "new, exiting" way nothing would change until it changed. With a new fee schedule. Of course, you'd have to know the old fee schedule to see what it meant. It looked like I was looking at $30-$40 a month.

Know what I knew? For most of my time, going back many years, at the old bank I never paid a fee. When I changed direct deposit of my pay to stop it going there it was $5.00 a month.

BOA has been hitting me for a $7.00 fee plus a $1.00 fee.

It took me a while to change all of bill pay and direct debit deals.

So...I went to the local branch to close my account today.

Strange: Now that the office is the all red Bank of America!!!! .... the writing stand doesn't have any withdrawal slips. All of the bins have only deposit slips. I actually checked each one a few times.

As I got my stuff together the teller asks if she can help.

- "Yeah. I want a withdrawal silp"

"You have to see me."

- "I want to close the account."

"OH! You can't close the account without talking to the account manager.
Please take a seat in the waiting area."

---..oookay...

Mr Suit asks if I want to close my account.

--Uh, huh.

I give him the info. He asks for a driver's license. He initials some forms.

(At this point I'm SURE the transfer* I made overnight into the account..they're gonna tell me it hasn't cleared. That's what it said online.)

Teller comes over. Asks for my driver's license and records it. :mad:

He comes up with a bank check for my balance LESS A ONE DOLLAR FEE. :mad: I mention quietly that that's why I'm closing the account.

Asks if I want cash.

Yep.

I even asked a money order to pay my bill for those a*s, DirecTV.

I sign the check and he cashes it.

I left smiling and relieved.

The people who work there - some of which were with the old bank - were very nice. It's too bad they ended up working for satan.

Dis frog jumped from the pot.


* I wanted the money from my internet savings bank right away. THEY had a deal where I had to verify the new bank account which takes 2-4 business days for you to verify a token deposit. I decided to transfer part to my old, already set-up BOA account to get my hands on it. Even that takes 2 days.
 
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Crap like that is why small local banks are still around.
 
Bank of Bolivar. Local, friendly, GA friendly. and you know the folks who work there.

And Clowntry wide will **NEVER** get a penny from me ever again. I plan on making that part of my will, to the tenth generation...
 
I think the one dollar fee has been around at least since the early 60's. Had an account with them for a while in 1962. When I went to close the account they wanted to charge me the 1 dollar to close the account. I said fine just leave that account open with the dollar they were going to charge me. I never went back.
Ron
 
L10MAN said:
I think the one dollar fee has been around at least since the early 60's. Had an account with them for a while in 1962. When I went to close the account they wanted to charge me the 1 dollar to close the account. I said fine just leave that account open with the dollar they were going to charge me. I never went back.
Ron
Click to expand...

The problem with that these days is they will hit you with $8 a month service charge, overdraw the account, add the $39 overdraft charge, and repeat each month.

The next thing you know they show -$407 in the account.

These days they report overdrafts to credit bureaus.
 
Go Credit Union.

ALASKA USA Inc member
 
BoA- I wanted to close my account since there is no BoA branch within several hundred miles of me. They allegedly sent the check for the amount- never came. I had to physically visit a branch to get the checks reissued (via mail). Fortunately I was at a trade show the next week and I could just walk to a branch.
 
woodstock said:
I wonder if BofA is going to be one of the last banks standing....
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They will. Too big to fail. To arrogant to go down. The only way they'll go down is if depositors pull out and if borrowers go elsewhere. Where else are borrowers going to go?

They'll be just like cable TV companies and airlines. High fees, crap service, and "discounts" if you bundle services with them.

flyersfan31 said:
Crap like that is why small local banks are still around.
Click to expand...

Yep. Small banks and credit unions. Some have fees, but at least you get something for those fees.
 
Hmm. I have been with BoA since moving to Jax 3 years ago. The only fees I've ever paid there were wire transfer fees when I bought a couple of airplanes. Never paid any kind of fee for checking or savings, even on a couple occasions when a check made it there before the deposit to cover it. I have 8 checking/savings accounts with them. I find the online bill-pay system easy, fast and accurate. The folks at the local branch are very friendly. I'm a happy BoA customer.
 
mikea said:
They may not be doing so well, either. Countrywide didn't go down so good.
Click to expand...

In these days of doom and gloom in the financial arena there was (unbelievably) some good news for a change. The bank I use the most (Wachovia) turned up on the rocks. There were even reports of a run on it - but I didn't hear about that until afterwards. First it was announced that Citibank was going to take them over - but then Wells Fargo outbid them. Citi initially challenged this "interference" - but now appear to have given up. I have been a long term satisfied customer of Wells Fargo, and have maintained an account with them despite their having no branches where I'm currently living. Now it looks like I won't have to do anything - and will soon have local branches as a bonus.
 
My principal beef with BofA is situational- they were essentially "created" as a national presence when the feds handed them the deposits of FirstRepublic Bank (of Texas), after declaring FirstRepublic as "insolvent"- when (big shock) in the end, FRB was not "insolvent," based upon the ultimate disposition of the 'non-performing" assets. Thus, North Carolina National Bank was launched into its path of growth and aggregation.


Of course, they charge money to cash checks from their depositors. Nuts.
 
cessna182b said:
In these days of doom and gloom in the financial arena there was (unbelievably) some good news for a change. The bank I use the most (Wachovia) turned up on the rocks. There were even reports of a run on it - but I didn't hear about that until afterwards. First it was announced that Citibank was going to take them over - but then Wells Fargo outbid them. Citi initially challenged this "interference" - but now appear to have given up. I have been a long term satisfied customer of Wells Fargo, and have maintained an account with them despite their having no branches where I'm currently living. Now it looks like I won't have to do anything - and will soon have local branches as a bonus.
Click to expand...

You heard that Citi paid AFIAK, $2.1 bilion to, awww, I guess we'll do ya a favor Uncle Sam, "rescue' Wachovia, and then when Wells Fargo offered more Citi suued for tort interference and said the deal was was worth $60 billion to them. :mad: The word is the protest and "counter offer bid" they "lost" on is merely to impress the judge in the lawsuit.

http://www.nakedcapitalism.com/2008/10/citi-abandons-wachovia-bid-still-suing.html
 
SCCutler said:
Of course, they charge money to cash checks from their depositors. Nuts.
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No they don't. Never charged me.

This dichotomy must be due to the existence of "levels" of customer involvement. Perhaps they charge shoestring customers out the wazoo, but the accts I have are fee-free in nearly all respects.
 
Ken Ibold said:
No they don't. Never charged me.

This dichotomy must be due to the existence of "levels" of customer involvement. Perhaps they charge shoestring customers out the wazoo, but the accts I have are fee-free in nearly all respects.
Click to expand...

The fee schedules are based on aggregated account balances and minimum balances that most mere mortals don't maintain, Mr. Elitist. :rolleyes:

In my case I thought at first it could be they didn't fight too much on losing me because I haven't had more than a few hundred bucks pass through since I switched the direct deposit. There were days at the old bank when the teller would look and suddenly before very friendly. :D You gotta believe they have a customer rating code right on the first screen.
 
mikea said:
The fee schedules are based on aggregated account balances and minimum balances that most mere mortals don't maintain, Mr. Elitist. :rolleyes:

In my case I thought at first it could be they didn't fight too much on losing me because I haven't had more than a few hundred bucks pass through since I switched the direct deposit. There were days at the old bank when the teller would look and suddenly before very friendly. :D You gotta believe they have a customer rating code right on the first screen.
Click to expand...

Move your money here!

http://www.tightwadbank.net/

Tightwad, MO - close to Truman Lake in central Missouri.


Trapper John
 
Ken Ibold said:
Hmm. I have been with BoA since moving to Jax 3 years ago. The only fees I've ever paid there were wire transfer fees when I bought a couple of airplanes. Never paid any kind of fee for checking or savings, even on a couple occasions when a check made it there before the deposit to cover it. I have 8 checking/savings accounts with them. I find the online bill-pay system easy, fast and accurate. The folks at the local branch are very friendly. I'm a happy BoA customer.
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I'm with you Ken. We've never had a problem nor fees with BoA. :dunno:
 
BoA has great services as far as online operation and bill pay. But, when it comes to customer service, they don't give a flip for the little depositor.

Now, for those with the large deposits, they go out of their way and they pay for personalized courier service when you can't get to the bank. I know because I've done a LOT of those types of runs for BoA from both branches and at the main building in Atlanta on 600 Peach.
 
Ken Ibold said:
Hmm. I have been with BoA since moving to Jax 3 years ago. The only fees I've ever paid there were wire transfer fees when I bought a couple of airplanes. Never paid any kind of fee for checking or savings, even on a couple occasions when a check made it there before the deposit to cover it. I have 8 checking/savings accounts with them. I find the online bill-pay system easy, fast and accurate. The folks at the local branch are very friendly. I'm a happy BoA customer.
Click to expand...

Ken Ibold said:
No they don't. Never charged me.

This dichotomy must be due to the existence of "levels" of customer involvement. Perhaps they charge shoestring customers out the wazoo, but the accts I have are fee-free in nearly all respects.
Click to expand...


Me, too. I've used BofA for years and don't pay fees. Having direct deposit of my paycheck seems to be the magic trick. And their on-line bill payer works great.
kevin47881 said:
I'm with you Ken. We've never had a problem nor fees with BoA. :dunno:
Click to expand...
 
Ken Ibold said:
No they don't. Never charged me.

This dichotomy must be due to the existence of "levels" of customer involvement. Perhaps they charge shoestring customers out the wazoo, but the accts I have are fee-free in nearly all respects.
Click to expand...

Ken, the charge is to the party presenting a check, drawn on their bank; the presenting party (in my example, me) does not have a BofA account. They said, "You can just deposit it at your bank, and allow it to clear, and no fee," but it was a check from a notoriously shady dealer, and it was (at that moment) backed-up by sufficient funds, a status we did not expect to continue.

So we appeared at their bank, and demanded that they honor the instrument, a check drawn on a demand deposit account and made payable To The Order Of the presenting payee. Fee for same. Or maybe they refused outright, it was a while back.

I would not suggest (nor would I expect) that they would charge their own depositors to cash their own checks.
 
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