Warning to all Bank Of America Customers

Wow, nice rant. But I've been banking with them for 29 years without a problem. Attached is my login web page. The active security icon on the lower right is marked with a red 4.

They even had a good laugh about the $19,000 overdraft I did 20 years ago (no charges or penalties were applied).

Try making your banking mistakes really big. The small ones just annoy them...
 

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I've had my BofA accounts since 1986. It's been up and down with them. Before that I had an account with First Interstate, before that BayVeiw Federal and before that my first account was with Crocker Bank (now known as Wells Fargo). My first account was when me was a wee toddler. :p Got it as a 2 years birthday present. :D

The thing with any bank is, ya luv'em ya hate'em. It's like marrage. :rolleyes:
It's not either/or it's both.

Also if you look in the address bar it's https (secure).

Plus they only use the 128 bit encryption and SSL (Secure Socket Layer). So your browser has to be up to the task or ya can't use their On-Line Banking or log on.
 
One note of warning... Checks used to take 5 days to clear (and usually do). I had something last year where I had to pay rent, wrote a check, put it into the land lords, and withdrew the money from the ATM and slowly deposited it into my checking account.

In that case, within 2 days it cleared and I got an over-draft fee. Since then I haven't seen this. It might clear faster...

Now in my case, it's better to risk the over-draft fee... OK here's the thing. I get the rent money on the second of the month usually, but sometimes the second falls on a Sunday or something. If the second falls on a Saturday, it can be worse as the money might not clear till Monday. To transfer the money, I have to pull it from an ATM and then deposit it. ATMs impose a $300 daily max, but rent is about $562 or so... The overdraft fee is $22, the late fees on rent (were $30, but now are about $50 + we're not able to take $50 off our rent) for a $100 increase. The late fee is worse then the over-draft.

But depending on your situation, beware, it might clear more immediately...

As to not allowing you to draw from cashier's checks...that does seem odd. I can understand the deal with a personal check. They really don't know whether the individual is writting bad checks. But cashier's checks are generally understood to be more of a sure bet...companies or other banks not as likely to write bad checks as individuals from their personal accounts...

It'd be hard for me to comment too much about a bank I don't use (or at least if I did, it was back in the 1980s when I was still a kid... If one isn't happy with a bank however, one might want to check to see if they can use a credit union. After having used a credit union, I'm not sure if I would go back to a bank tbh...
 
Un4gIvEn1 said:
How many of you complaining about Bank of America have ever had an account with another bank? Is this your first account with a bank? If it is you are in for a rude awakening... All banks have policies that eventually you will not like. They do it because they deal with a LOT of money and a lot of people who can't handle their finances.
I have used 5 other banks in the past. Before you ask, I only left those banks because I moved and they were basically "home town" local banks. I never had the problems I have had with BOA. If it wasn't for the fact that I have so many things tied into that account, I would have already switched banks. It will take me some time to get everything in order but I will switch to another bank. Luckily, one of the "smaller" banks I dealt with in the past when I lived in South Florida is in the process of opening a branch here where I live. Goodbye BOA, hello Riverside National.
 
What kills me the most about most of the banks out there is their frickin ATM fees. If ya use someone elses ATM they screw you. I used a Wells Fargo ATM saturday 'cause Ithere wasn't a BofA one around. Plus I needed to purchase some food at a place rite next to the ATM but they only took cash. Anyway, $1.50 Wells Fargo fee 'cause of the non-Wells Fargo ATM Card plus a $2.00 BofA non-BofA ATM fee. Three f**king fifty! to get at my money. And yeah I remember that this already went to court about ATM fees and such and BofA won the frickin ruling.
 
I live 12 miles from my bank, 2 miles from an A.T.M. they used to charge to use another machine, to get credit from your own bank you had to keep receipt of withdrawls and provide them at the bank you had an account at to get money back.

This seemed to stop for a few years, now in the U.K. it's coming back again.

Last time I was charged for using another A.T.M. it was 50 pence per withdrawl.

I will digress slightly, my fiance's credit card went 32 pence over the limit last month and they charged her £20 now that's disgusting.
 
I've been with Nationwide Building Society for 20 year and never had any problems.I can now withdraw money from my account at any post office free of charge or any cash machine with the Link logo also free of charge :D
 
Son Goku said:
As to not allowing you to draw from cashier's checks...that does seem odd. I can understand the deal with a personal check. They really don't know whether the individual is writting bad checks. But cashier's checks are generally understood to be more of a sure bet...companies or other banks not as likely to write bad checks as individuals from their personal accounts...

Cashier's Checks are generally good...if they're not fraudulent. And they still take the usual amount of time to clear like any other check. There has been a rash of fraud with these kind of checks over the last few years, so that's why banks are not so trusting with these as they once were.

If you want your money right away, have it wired to your account. Of course, it's not cheap, because usually there's a fee charged for the sender and a fee charged for receiving it.

Melon
 
gonaads said:
What kills me the most about most of the banks out there is their frickin ATM fees. If ya use someone elses ATM they screw you. I used a Wells Fargo ATM saturday 'cause Ithere wasn't a BofA one around. Plus I needed to purchase some food at a place rite next to the ATM but they only took cash. Anyway, $1.50 Wells Fargo fee 'cause of the non-Wells Fargo ATM Card plus a $2.00 BofA non-BofA ATM fee. Three f**king fifty! to get at my money. And yeah I remember that this already went to court about ATM fees and such and BofA won the frickin ruling.

Well, it sucks, but they don't provide ATMs for customer convenience. They provide them to make money. And they make money off of you either way. If you're a customer, it's through the relevant fees that you might accumulate, such as overdraft fees or minimum balance requirements. If it's non-customers, they make money off of the ATM fees. As far as they're concerned, if you don't like the ATM fees, open an account with them and voila! No more foreign ATM fees. It's like a convenience store versus a grocery store. The former charges higher prices than a grocery store, but people still go there anyway, because, just sometimes, you have to go there for lack of time.

Melon
 
I dunno...I don't want to seem like the cheerleader for BoA, but the flaws they have generally apply to most other banks, unfortunately. The one thing I hate hate hate is how they let debit cards go over their limit and then rack up tons of overdraft fees. I think it's downright awful. But I will say this: a lot of banks (including BoA) have things called "cash reserves" or something of the sort, where, instead of racking up a series of $25 overdraft fees, it goes into a credit-based account that accumulates something like an 18% APR and something like a $30 annual fee. In that case, just pay off the "cash reserve" immediately to prevent the interest from accumulating and treat the annual fee as an expense. After all, it's cheaper than tons of overdraft fees.

Melon
 
Washington Mutual, no charges from them on ATMs, of course if you use another bank ATM that bank charges you the extra fee.
 
Funny thing wrt convenience stores and late hours...with Wal-Mart super centers opening up (we have several in Albuq) and being open 24/7...it sorta defeats the "dang, only a convenience store is open now"...

BTW, it might depend on the financial institution. With my credit union, I haven't had a problem with taking cash off my student loan checks (last I recieved financial aid was spring 2004). The checks cumulative were like $4,500 or $5,000. Put part in saving, part in checking, and rest cash back. No problem there... It could be a difference in financial institutions though...

And yes, ATM fees can be a pain. From checking, it's best to use the check card as a credit card, where one can, and forgo the ATM altogether. In fact if stores ask me how I want to run it, I always insist credit. Then if there's a fee, they get it for running a credit card through the system, not me for an ATM like transaction. Still, the ATM card with the joint savings account my father and I share (a means he has to transfer money for me) it's inevitable...

Another way a person can pull a little more money from them (if one has a savings account with no limits on transactions) is to put the money for one's bills into savings, and then transfer it to checking right before needing it. Mise well collect interest for the day or 2 it sits in there before one needs to use it, even if it only adds a small amount. That's where online banking can allow for quick transfers of that sort...at least in my accounts the post is immediate for such transactions. It's not only banks that can try to work things that way :D
 
Crap.

Banks Notify Customers of Data Theft

CHARLOTTE, N.C. (AP) -- More than 100,000 customers of Wachovia Corp. and Bank of America Corp. have been notified that their financial records may have been stolen by bank employees and sold to collection agencies.

In all, nearly 700,000 customers of four banks may be affected, according to police in Hackensack, N.J., where the investigation was centered.

So far, Bank of America has alerted about 60,000 customers whose names were included on computer disks discovered by police, bank spokeswoman Alex Liftman said Monday.

"We are trying to communicate with our customers as promptly as possible," she said. "So far, we have no evidence that any of our customer information has been used for account fraud or identity theft."

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Wachovia said it has identified 48,000 current and former account holders whose accounts may have been breached.

"The numbers have increased as we continue to receive additional names from police," Wachovia spokeswoman Christy Phillips said Monday.

Both banks are providing the affected customers with free credit reporting services.

Full Story
 
What a buncha Pr!ck Ass MoFos. Now why they go and sell them to collection agencies?

Collection agent Orazio Lembo Jr., 35, of Hackensack made millions of dollars through the scheme...

The bank workers were paid $10 for each account they turned over...

What a bunch of stupid morons. $10.00 each! stupid!

Even if it was 700,000 total customers. Hell, you at least want 20 bucks a shot. :p
 
Yeah. That way when we all file the class action lawsuit against the Bank and the indvividuals we can get more money.
 

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