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BofA rant

Discussion in 'Other Off Topic Forum' started by hdpt00, Jan 2, 2008.

  1. hdpt00

    hdpt00 F1 Rookie

    Jul 15, 2005
    2,894
    Earth
    Full Name:
    Brandon
    I just checked my online banking... overdraft interest charge... wtf.. my balance is almost the FDIC limit...

    I call them up... tell them nothing was pending when I checked online banking and transferred some $ to my personal account from business. Well, apparently there is the fund available for transfer and then cleared funds. Online shows funds available, that doesn't mean a check is cleared yet. I thought that is what pending transactions meant? Nope! Either way though, my balance would have covered any transfers.

    They gave me some claim number to recoup my $11 interest charge and I will find out soon if I get a refund or a detailed explanation. If I don't get a refund I will threaten to cancel my account (which I will be doing anyways as my business merges into a new corporation).

    Things like this piss me off, they aren't taking my $11.

    Can anyone recommend a better bank for a business account in the meantime?
     
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  3. UroTrash

    UroTrash Three Time F1 World Champ
    Consultant Owner

    Jan 20, 2004
    33,785
    Purgatory
    Full Name:
    Internet Poseur
  4. sparta49

    sparta49 F1 Veteran
    Owner

    Mar 3, 2001
    7,794
    LA
    Full Name:
    Frank
    If it's a sizeable amount which it sounds like it is I'm sure they will refund the $11 rather than lose the account.
     
  5. hdpt00

    hdpt00 F1 Rookie

    Jul 15, 2005
    2,894
    Earth
    Full Name:
    Brandon
    We shall see. I'll update this when I hear back. I was expecting a refund immediately on the phone. Either way, I need recommendations for other banks that handle business accounts well.
     
  6. rtking

    rtking Formula Junior

    Mar 5, 2006
    703
    Huntington Beach, CA
    Full Name:
    Bob King
    I've been happy with Washington Mutual. I would have my business account at my credit union if I could, but they don't handle business accounts. My Credit Union (Financial Partners) has provided me with some of the best personal relationship banking of any institution I've done business with.
     
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  8. AntonyR

    AntonyR F1 Veteran

    Apr 12, 2004
    5,328
    Los Angeles
    Full Name:
    Antony
    I hate BofA. Wachovia has great customer service and I have never had an issue with them.


    Antony
     
  9. Fastviper

    Fastviper F1 Rookie

    Nov 20, 2003
    4,410
    Texas
    Full Name:
    Dash
    I bank at a small local bank. Never been charged fees for anything and everyone there knows me by first name.

    Screw national banks.
     
  10. REMIX

    REMIX Two Time F1 World Champ
    Silver Subscribed

  11. 4REphotographer

    4REphotographer F1 Veteran

    Oct 22, 2006
    6,088
    Arlington, VA
    Full Name:
    Chris
    Funny this should come up, I closed my BofA account last week. Time to go with a somewhat local bank (BB&T).
     
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  13. Buzz48317

    Buzz48317 F1 Rookie

    Dec 5, 2005
    2,803
    Shelby Twp., MI
    Full Name:
    Michael
    I have been happy with Chase. The branches local to me have people that actually remember my name...can you believe it?
     
  14. SefacHotRodder

    SefacHotRodder F1 World Champ

    Dec 20, 2003
    10,919
    NJ
    Full Name:
    Chris
    Don't start me on BOA right now. I'm $-360 overdrawn because their ****ing transfer thing didn't work and its still telling me i don't have enouhg $$ in my other account to make the transfer which is completely untue. I'm overdrawn because i set up a credit card payment the day after THEY TOLD ME the transfer would go through
     
  15. agup48

    agup48 Two Time F1 World Champ

    Apr 15, 2006
    26,282
    Phoenix
    Full Name:
    AG
    Good thing I saw this thread, I am about to close a Chase account and was going to transfer to BoA, but I wanted to go to WaMu instead, so that is where I will be going.
     
  16. RacerX_GTO

    RacerX_GTO F1 World Champ
    Silver Subscribed

    Nov 2, 2003
    12,054
    Oregon
    Full Name:
    Gabe V.
    BofA = BANK OF HELL!! Cancelled them years ago the all the games mentioned above. I too am having zero problems with the smaller local bank.
     
  17. SefacHotRodder

    SefacHotRodder F1 World Champ

    Dec 20, 2003
    10,919
    NJ
    Full Name:
    Chris
    Good. Avoid BOA at all costs


    I will be switching to Whachovia tomorrow
     
  18. irondogmike

    irondogmike Formula 3

    Sep 8, 2006
    2,170
    San Diego area
    Full Name:
    Michael Tucker
    I hate b of a also,I had a checking and savings with a large amount of money,well after six months I couldn't get the check book to balance and they where taking money out of the savings for no reason,I went in and they couldn't explain where the money went to,about $300,I said I want to close my acount,the manager says whats the problem,I want to close my account,she says what can we do to keep you,give me the money thats missing,she says we can't do that,then I'm closing,the teller at the bank says that three other people that closed their account that day same problem and the day before,so I think It's a practice that they take money out of your account and theres nothing you can prove,and that bank isn't even a american bank,my money is now in three other banks,and in 8 years no issues,good luck
     
  19. SrfCity

    SrfCity F1 Veteran

    Nov 1, 2003
    9,842
    Orange County, CA
    Never had a problem with BoA. They'll give you your $11. You just have to stay on top of them like every other co. these days.
     
  20. REMIX

    REMIX Two Time F1 World Champ
    Silver Subscribed

    Thing is there will eventually be a class action suit, BoA will be required to pay only a portion of it back and the lawyers will get most of it. You'll still be out of your money, they will not have to admit to any wrongdoing and the lawyers get a new F-car. That's the American way, you know. :)

    RMX
     
  21. rob lay

    rob lay Administrator
    Staff Member Admin Social Subscribed Miami 2018 Owner

    Dec 1, 2000
    52,344
    Southlake, TX
    Full Name:
    Rob Lay
    I have been with BoA for 10+ years (Nations Bank) and never major problems except can never talk to real person and when you do it’s the wrong person. Any large company seems to be like that these days.

    Anyone have a personal banker? If you have the "bank", then a personalized banker seems the way to go.
     
  22. irondogmike

    irondogmike Formula 3

    Sep 8, 2006
    2,170
    San Diego area
    Full Name:
    Michael Tucker
    one of the banks I bank with is union bank of california, i was at a sports store and buying a treadmill for the wife for christmas and called the bank to see if I had enough in the checking befor I do a debit on the card,well I was $500 short,so over the phone talking to one of the tellers that knows me,we did a transfer of funds from one of the savings account and transfered $600 that instent it was done,thats the bank everyone wants,like you own it
     
  23. SRT Mike

    SRT Mike Two Time F1 World Champ

    Oct 31, 2003
    23,199
    Taxachusetts
    Full Name:
    Raymond Luxury Yacht
    I used TD BankNorth. I used to be with a local bank but BankNorth bought them and TD bought BankNorth. As they have grown the service has gotten much worse and the fees have gotten higher.

    I once got hit with over $1200 in overdrafts because they failed to setup the auto-pull from my savings to checking. I only keep enough in my checking for what I know I have outstanding in checks. Well, one time I wanted to make a large spur-of-the-moment purchase after the branch was closed, so I called the 800#, I was told they had set up the auto-pull and if I made a charge that exceeded my checking balance it would auto-withdraw from savings. I made the charge - left with my item. Then I check my balance after the 3-day weekend to see well over $1k in fees. They charged me $37 for paying a $6 US Postal mailing and they charged me $37 for taking out $20 in cash and $37 for the $1.50 foreign ATM fee. They told me "the rep on the phone never should have said the auto-transfer takes effect immediately, it takes a few hours". Not my problem - and it took a huge battle to fix it.

    And that's just the start. They have screwed me tons of times. I looked into other banks and really none of them are any better. The only thing you can do is go with a small local bank/credit union and use them instead of the big guys. They offer better service and lower fees and that's how they compete with the big guys. Your only problem becomes what to do if they get bought - you may wind up jumping ship very often if they keep getting bought up.
     
  24. ski_bum

    ski_bum Formula 3

    Dec 26, 2002
    1,492
    San Diego
    Full Name:
    Michael
    My dad had a BofA credit card for years. When I took over his finances his interest rate was 25% or so. Fortunately he had, I continued to pay his balance off every month. When he passed away, I called & notified them, and paid off his balance. Even sent them a copy of the death certificate at their request.

    20 or so days later I got a bill for $30-50 for his annual fee! This AFTER I called and cancelled his account! Took 3-4 calls before I got this fee cancelled. 6 months later, I get a 'pre-approved' letter for a new CC for him. Idiots.
     
  25. irondogmike

    irondogmike Formula 3

    Sep 8, 2006
    2,170
    San Diego area
    Full Name:
    Michael Tucker
    you know b of a stands for bunch of a***s,thats my view,every time I get a preapproved credit card it goes in the shreader
     

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