Bank Of America Sucks.

Discussion in 'Et Cetera, Et Cetera' started by Mem, May 6, 2009.

  1. Mem

    Mem
    Gold Member

    Joined:
    Jul 4, 2006
    Messages:
    8,087
    Likes Received:
    8
    Gender:
    Male
    Location:
    FL
    They just sent me a letter this week saying that if I don't have $1000 balance or Direct Deposit in my account I will be charged a $8.95 fee per month.

    I already have an account with TD bank and they are great, but they are 10 miles away and BoA is just up the street. Today I closed my checking account. I kept my savings account, but they told me I couldn't get an ATM card for savings alone.

    I want to have a nearby bank with a debit card so I will be closing that BoA account soon and opening one with Wachovia.

    Economic Outlook: Bank of America tagged - UPI.com

    Stress test worries turned vivid and tangible for Bank of America, told by the U.S. Treasury it would need to make up a $33.9 billion shortfall.

    Everyone else better check your accounts that you have with them.
     
  2. VeeP

    Gold Member

    Joined:
    Sep 3, 2005
    Messages:
    1,787
    Albums:
    1
    Likes Received:
    2
    Gender:
    Male
    Yep, they'll be raising capital in any way possible, good customers be damned. I have stellar credit and have already had limits lowered arbitrarily and rates raised without cause (which of course is within their right, but still a shitty thing to do). One of my credit cards recently informed me that my current 9% rate will become promotional rate for 6 months, after which it goes to something like 21%. Oh yeah? Fuck You! I don't even use your fucking card, nor will I in the future. :mad:

    Oh, and if you think their tactics are bad now, just wait until this goes into effect:

    H.R. 627: Credit Cardholders' Bill of Rights Act of 2009 (GovTrack.us)
     
    #2 VeeP, May 6, 2009
    Last edited: May 6, 2009
  3. driftingvoid

    Verified Gold Member

    Joined:
    Nov 8, 2008
    Messages:
    200
    Albums:
    1
    Likes Received:
    3
    Gender:
    Male
    Location:
    Florida
    Verified:
    Photo
    lol

    Welcome to banking. Haha.
     
  4. Steve26

    Gold Member

    Joined:
    Apr 14, 2001
    Messages:
    844
    Albums:
    1
    Likes Received:
    347
    Gender:
    Male
    Location:
    New Hampshire + Massachusetts
    You should consider joining a credit union. They're non-profit, so they generally don't have minimum balances and all these crazy fees, and can do everything for you that a bank can. (Well, other than screw you over 24/7!)

    Steve
     
  5. D_Martin van Burden

    D_Martin van Burden Account Disabled

    Joined:
    Oct 6, 2002
    Messages:
    3,365
    Likes Received:
    6
    I like my bank, but I have grief with my credit cards as well. I have been a customer of Bank of America for 10 years and they announced some fee increases and knocked my APR up a few percentage points as well. I only transferred my credit card balance to Citi because they were willing to give me 0% on the transfer for a year.

    I don't mind playing one credit card against the other, but it's frustrating. I have to make a couple of big purchases between now and the beginning of the semester. BofA still gives me a low interest rate (which I'm afraid will skyrocket when I need it most), and Citi is letting me whittle away the ongoing debt.
     
  6. b.c.

    Gold Member

    Joined:
    Nov 7, 2005
    Messages:
    9,259
    Albums:
    1
    Likes Received:
    1,666
    Gender:
    Male
    Location:
    at home
    Sent them to hell ages ago...

    when (as a relative novice in such matters) I had a modest checking account with B of A. As it so happened I had written a check against funds deposited, but not yet credited to my account. (They and many banks used to do shit like hold deposited funds "unavailable" for days). As a result, not only was I hit with a 15.00 NSF charge, but an additional $15.00 "service" charge. It sno-balled into some $90.00 worth of charges (at 30 bucks per check) before I got a handle on the situation (and promptly discontinued the account).

    So yeah, I decided long ago that B of A can go fuck themselves.
     
  7. B_Nick8

    B_Nick8 New Member

    Joined:
    Jun 29, 2007
    Messages:
    11,912
    Likes Received:
    43
    Gender:
    Male
    Location:
    New York City, by way of Marblehead, Boston and Ge
    They were the first ones with the $3.00 atm fees, too which drove other bank's up. If I'd had an account with them I would have loved to have canceled it.
     
  8. hypoc8

    hypoc8 Member

    Joined:
    Apr 12, 2007
    Messages:
    718
    Likes Received:
    5
    Gender:
    Male
    Location:
    SC
    Ileft there years ago, same thing with NationsBank
     
  9. SpeedoGuy

    Gold Member

    Joined:
    May 18, 2004
    Messages:
    4,229
    Albums:
    1
    Likes Received:
    10
    Gender:
    Male
    Location:
    Pacific Northwest, USA
    My experience with Bank of America was not a happy one. Common depositers were treated as, well, a nuisance.

    btw, BofA was today rated as an "at-risk" bank in need of more capital infusion (read: bailout) should the recession become a bit more severe.
     
  10. FuzzyKen

    FuzzyKen New Member

    Joined:
    Nov 10, 2006
    Messages:
    2,116
    Likes Received:
    6
    Gender:
    Male
    We have had all the same problems. We dropped conventional banks and went with Credit Unions because of the totally different set-up. We were given the elevator "shaft and all" by B of A and several other banks when the economy started to tank.

    They have now created a situation where they no longer want to loan money, they want to jack credit card interest rates to usurous levels, and they will soon be facing the Feds for all of the above in order to get the bailouts.

    The real comedy will be coming in the next few years as their horrific and dishonest business practices are all exposed. It is going to happen..........
     
  11. HellsKitchenmanNYC

    Gold Member

    Joined:
    Oct 31, 2005
    Messages:
    5,848
    Albums:
    1
    Likes Received:
    8
    Gender:
    Male
    Location:
    New York
    You might wanna investigate Washington Mutual if you have them there. They're merging w/Chase but my fave bank so far in 25 yrs in NYC.
     
  12. B_Lightkeeper

    B_Lightkeeper New Member

    Joined:
    Jun 5, 2006
    Messages:
    5,553
    Likes Received:
    45
    Gender:
    Male
    Location:
    Eastern Alabama
    I had a credit card with Washington Mutual which now is Chase (Barclay?) and my home was morgaged with Countrywide which is now Bank of America. It sure would be nice if somehow they cut my interest, payments and balance owed! LOL
     
  13. HellsKitchenmanNYC

    Gold Member

    Joined:
    Oct 31, 2005
    Messages:
    5,848
    Albums:
    1
    Likes Received:
    8
    Gender:
    Male
    Location:
    New York
    My Wamu interest is 9.8%. I would never get a card w/a higher one....on purpose.
     
  14. Mem

    Mem
    Gold Member

    Joined:
    Jul 4, 2006
    Messages:
    8,087
    Likes Received:
    8
    Gender:
    Male
    Location:
    FL
    I still use their credit card because it is a rewards card. My early credit cards were from banks that were not in my area, so the bank does not matter to me for credit cards. I won't bank there, but it is still close and I can pay for the CC in person if I want to.
     
  15. b.c.

    Gold Member

    Joined:
    Nov 7, 2005
    Messages:
    9,259
    Albums:
    1
    Likes Received:
    1,666
    Gender:
    Male
    Location:
    at home
    Don't know how WaMU was as a bank, but they were hell as a holder of our home mortgage. Thank God we don't have to deal with those fuks anymore. They didn't know their assholes from a hole in the wall.
     
Draft saved Draft deleted