Don't Bank with Bank of America

F

Fling

Veteran XX
I'm sure many of you know this already, but don't bank with this terrible company. I've decided that I will do what I can to send potential customers to other banks. I opened a checking and savings account with them 2 years ago as a secondary account for the sole purpose of transfering money in and out of the investment markets. My primary account was with Wachovia, and still is with Wells Fargo today. I havn't had any investing activity in a little over a year, so there has been no activity in the account during that time, the balance sat at about 7 dollars for that period.

Some time in December I guess they changed their maintenance fee policies, and started to hit my account with 7 dollar fees. In April the account was automatically closed. Now, the last email I got from them was basically spam back in August of 2010. Today, I was going through my regular mail, and noticed a letter from a colletion agency. They sent my negative balance of $25.41 to a fucking collection agency. This makes me furious.
1. I thought I had 7 dollars in the account.
2. Why wasn't I ever sent an email about my negative balance?
3. Why wasn't I called?
4. They've sent a negative balance that they created to a god damned collection agency and will now probably show on my credit report. I'm not hard to find, I obviously get mail, my phone number is the same, I see the last email I got from them was from August. I didn't go buy some item and put my account into a negative balance. This is something they've done, and it's bullshit. It's short sighted business practices from them, it's poor communication, it's shady and unethical and ought to be illegal.

Anyway, I'm 28, I have a degree, I have a job, I have good credit and I do tons of Banking with Wells Fargo, and I will continue to do so. I will also never bank with Bank of America again for any reason what so ever if I can avoid it, and I will tell everyone I know, not to bank with this terrible company.

Looking forward to dealing with this tomorrow. Is there anyone I can report them too? This is the kind of crap that just pisses me off. RAGE.
 
Ran into this recently myself as well, they had been charging me like 8$ or something stupid every month for several months before I noticed it. Downgrade the account to "E-Banking" but really I should just cancel it.
 
my buddy worked for them for years an an FX trader

h fucked up one quarter and lost them $22 million

he was fired and 2 months later had the same job at Wells Fargo making an obscene salary


hopefully this story makes you feel a little better
 
its not their responsibility to alert you when your account is overdrawn. i read this as: im a retard who left 7 dollars in my account and now im mad because im $25(lol) overdrawn.
 
I've had no problems with ING Direct, though I am moving towards just using Navy Federal as my main bank.
 
Why do people use anything but a credit union for banking?

Serious question, because I've been with Navy Federal since the mid-80s and haven't yet experienced any of the problems I hear people talk about regarding banking. (Except slow/obnoxious people in the ATM lines.)
 
just to reiterate, you're a poor retard that can't keep track of your finances. and, you expect people to provide you a service without paying for it.

btw, late payments of less than $50 don't go on your credit report
 
Bounty said:
Why do people use anything but a credit union for banking?

Serious question, because I've been with Navy Federal since the mid-80s and haven't yet experienced any of the problems I hear people talk about regarding banking. (Except slow/obnoxious people in the ATM lines.)
Click to expand...

Went credit union for my auto loan, they did better on interest than the bank I work for. :lol:
 
Xeri0us said:
its not their responsibility to alert you when your account is overdrawn. i read this as: im a retard who left 7 dollars in my account and now im mad because im $25(lol) overdrawn.
Click to expand...

Well, hopefully you're trolling. I don't care about the 7 dollars, I don't care that they charge maintenance fees, I would have canceled the account if I knew they could and would draw my account into the negative and then send it to a collection agency. It's absurd. A good company would understand that for the price of 32 dollars they've lost out on a lifetime of potential revenue from me. This whole thing is so silly, I've got no doubt I can resolve it so that it doesn't hurt me in anyway.

When I lived in Charlotte, my roomate worked for BofA. I know all about their excess and it was a huge mistake to bail them out and not make them tighten up operationally.
 
they also charge like $7 for money orders and the same for bank checks. I even got charged $12 when they refused to accept a check from a company i did work for. What service did they provide me when they refused a bad check? none. if i bounce a check they charge $35. again, how do they justify that? if they honored it that would be one thing.

banks all suck these days. only reason I stay with BOA is because my kids are in college and they use it also and its convenient to send them money with a few clicks on my cellphone.
 
I use ING because of the better savings rate. I use Wells Fargo for checking and bill pay because they give it to me for free. I stay with Wells Fargo because their website is much better than my credit union's which is unusable. I have a checking/savings sitting near nothing with my credit union from when I got a home loan through them... which they sold to BoA so I get to deal with their shittastic website and customer service.

If my credit union can make me more money or be more convenient, then I'll have a reason to switch.
 
Bounty said:
Why do people use anything but a credit union for banking?

Serious question, because I've been with Navy Federal since the mid-80s and haven't yet experienced any of the problems I hear people talk about regarding banking. (Except slow/obnoxious people in the ATM lines.)
Click to expand...

I really havn't looked into other options, what are the benefits of your credit union? I am very pleased with Wells Fargo, and have really enjoyed banking with them. Perhaps a credit union would be better, I just don't know why it would be, tell me!
 
Fling said:
Well, hopefully you're trolling. I don't care about the 7 dollars, I don't care that they charge maintenance fees, I would have canceled the account if I knew they could and would draw my account into the negative and then send it to a collection agency. It's absurd. A good company would understand that for the price of 32 dollars they've lost out on a lifetime of potential revenue from me. This whole thing is so silly, I've got no doubt I can resolve it so that it doesn't hurt me in anyway.

When I lived in Charlotte, my roomate worked for BofA. I know all about their excess and it was a huge mistake to bail them out and not make them tighten up operationally.
Click to expand...

I had a bank of america account for a while and it always seemed pretty clear to me that they would charge you that maintenance fee unless you met a minimum balance or use the account as the direct deposit location for your payroll checks
 
mjoe said:
just to reiterate, you're a poor retard that can't keep track of your finances. and, you expect people to provide you a service without paying for it.

btw, late payments of less than $50 don't go on your credit report
Click to expand...

:lol:
 
My friend's dad tried to close his credit card, but some random long-delayed charge (of like 7 bucks or something) came through. This apparently caused their system to completely ignore his attempt at closing the account which he did by phone with workers in the company. They then charged him late fees/interest for like every month and he never received any bills since his account was set as email only and that apparently wasn't working. In the end they finally sent him a bill for a few hundred dollars and said it would go to collections. He called them up and explained the situation and they basically told him to fuck off and his only recourse was to take them to court which he honestly probably would lose since they were legally/contractually in the right and morally in the wrong.

But this is really just a fact of life. The large banks are basically scum in how they've set up the system to fuck many customers over. You just have to be careful/smart not to pay things late so that poor/dumb people can subsidize your account costs with the fees they pay.
 
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