Bank of America

Bank of America

 3.8/5 (1390 ratings)
  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

About Bank of America

Bank of America offers mortgage loans nationwide and has lending specialists available online and at branch locations. If you’re searching for a mortgage loan, loan refinancing or a home equity loan, visit Bank of America’s website to apply.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Bank of America Reviews

Recent
  • Recent
  • Oldest
  • Most helpful
Any
  • Any
  • Rated with 5 stars
  • Rated with 4 stars
  • Rated with 3 stars
  • Rated with 2 stars
  • Rated with 1 star

A link has directed you to this review. Its location on this page may change next time you visit.

How do I know I can trust these reviews about Bank of America?
How do I know I can trust these reviews about Bank of America?
  • 3,828,503 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 1 Reviews 0 - 10
Rated with 1 star
Verified Reviewer
Original review: June 16, 2022

On May 6th, I received an email that appeared to come from BofA with the subject line "Security Alert: Your Online Banking Password Was Reset". However, I was able to go online and get into my account, which suggested that this was a fraudulent email. Still I called BofA and spoke to someone about it. They suggested I forward the email to abuse@bofa.com. That was the last I heard of this until two days later after $27,200 had been stolen from my account. First, someone transferred $7200 from my credit card cash advance line to my checking account. Then, someone went to the branch in Temple TX (my account address is in MA) and was able to take $9400 and $8400 from a teller in two transactions that day. The following day, they went to a branch in Webb Chapel TX and took another $9400.

What I later learned was that someone had created a second username and password and linked it to my account, WHICH IS NOT THE SAME AS SOMEONE RESETTING MY PASSWORD! Nothing has happened with the fraud claim other than for the credit card division to deny the $7200 claim since the transfer had gone into my checking account. Therefore, that $7200 is back on my card and is accruing interest! When I tried to speak to a fraud inspector about this, I was told I could not, after which Xavier from TX hung up on me. Has anyone else experience this Password reset email when it was actually a new username and password added to the account?

Be the first one to find this review helpful
Rated with 1 star
profile pic of the author
Verified Reviewer
Original review: June 4, 2022

Aside from not being competent enough to resolve an 8-mo issue with my small business credit card autopay, Bank of America has a number of failures of ethics, like intentionally, systematically defrauding the American public via late fees, homeowner mortgage sabotage during the 2008 recession, impersonating small businesses for the purpose of stealing 2020 small business COVID relief loans, and spying on Americans. There is no bottom for this bank too low to stoop to. Most of what they do has a cost analysis built in that tells them ethics is just another cost they can't afford in their brave new business model. They will be replaced by any number of banking alternatives emerging today within 5 years or less at this crash and burn rate.

If every bank treated their customers as Bank of America does, most of them would have gone under by now. This kind of hubris will not endure very long in the wake of Blockchain authentication and the sweeping banking reforms likely to follow. Meme-riding PR schemes in place of genuine customer service and ethics will take its toll soon on the least satisfactory bank IN America according to most sources of legitimate reviews.

3 people found this review helpful

Not sure how to choose?

Get buying tips about Banks and Credit Unions delivered to your inbox.

    By entering your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs. Unsubscribe at any time.

    Thank you, you have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.

    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: June 2, 2022

    Deposited over 4k in checks. ATM says half was on hold for a few days, fine. Next day I get an email saying checks on hold for 2 weeks out. What?! They’re state-issued checks not personal. BofA does this during the 1st of the month during the most crucial times. Payments being returned and having to explain my situation to everyone. Bank of America will hold YOUR MONEY as long as possible for their own gain while their customers are left suffering.

    4 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: May 27, 2022

    My card was on my phone and inadvertently chooses when I went to pay for parking and due to the wrong card being selected I incurred $80 in fees for a $12 and a $10 parking transaction. I called the back and even though my account has been in good standing they refused to even look into waiving some of the fees. This is one of the worst banks to deal with. I am absolutely switching to Chase. I also had a minor account for my daughter which they started assessing monthly fees to. When I opened it a while back I was told minor account has no fees. I tried to close it out then was told I could not because it was dormant and would need to be opened which would take a few days. I eventually after much run around got it closed.

    This bank has very poor service and I am both a business and consumer customer. I also have a business card with them and was told I had reached the spending quota for a $200 credit to my card only to find out when I called to check on it I was given wrong information and that became my fault that the agent gave me wrong info.

    3 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: May 25, 2022

    Had fraud problems. Called BofA. Filled my claims. Person who filed my claims forgot to submit them. All the amounts were temporarily credited and approved... ON MY VACATION. They took all of it back making me negative $2000.00 and stuck with no money on my vacation. 2nd time this happened when I was on vacation... Trying to get someone to help you is joke. They don't give a **. Too busy watching TV at home.

    It's been 5 months of dealing with this. Lost so much time at work. Lost my new business loan. Can't get a bank account. Can't receive money and because there employee screwed up they reported me to the credit bureau... Figured I would contact head of customer relations and got the same service. Nothing but a phone call from a supervisor in the claims department who wanted to argue with me... She says to me I've kind of looked over your stuff it looks like it might be took too long to file your claims. She couldn't even tell me the date I filled them... So if you want to waste your money, get treated like **, get hung up on, screwed over again and again this is the bank for you!!!

    5 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: May 17, 2022

    Everything sucks about this bank now. I've been a customer for 25 years and I'm done. Using my debit card has become impossible with all of their security checks. If use the card at a restaurant it gets declined, same for cash withdrawals at an ATM....declined, but, only for a few minutes when they text or email me and ask....'was that you?' then it's OK; which is too late! I could go on and on. Screw this.

    6 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: May 14, 2022

    I have used BOA for over 40 years. Currently, as many know, there are multiple Fraudulent websites and markers prowling on the internet. If per chance, you click one by mistake, as it Pops Up, while reading or viewing an article and since computers are so automated (they don't seem to have a chip shortage), a popup displays their product and there are hidden links behind the site and not cookies that put you directly into checkout and the computer fills in your credit card number - when you try to cancel it, you get frozen or a foreign country and all you can do is go to your BOA credit card account and instead of having a choice - of report charge or cancel charge, the only choice is "report it as Fraud."

    As soon as you do that BOA, with no warning flag, prior to you stating you believe it to be fraud, that they will immediately shutdown that credit card for any future purchases, assign a new card and say 10 days to get another card. You have to call and wait over 20 minutes to get thru to say, please send me the card IMMEDIATELY. In addition, there is no place on the website, (because no statements have been generated), to find out the full number of the card, and details like exp date and security code, so that you can use the new card until the card physically comes in. And if you explain this to a rep or associate, last one I talked to in order to expedite shipping like American Express, hung up on me. This is the worst customer service approach ever. With the New Preferred Rewards cards, that I pay an annual fee for the card, they should overnight the card instead of hanging up the phone.

    5 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: May 6, 2022

    Suffice it to say they are more than inept-never and I mean never do anything correctly. Worst bank with the worst employees. Do not bring your money to them. Run in the opposite direction as fast as you can. They should be renamed Bank of Errors.

    8 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: April 30, 2022

    I'm moving to the UK. I used my personal Bank of America account to send 27k to my personal UK bank account. I waited two weeks and never received the money that I sent to myself from the US to the UK. I contacted Bank of America and they said they can't trace the funds and that there's nothing they can do and they don't know where the money is. So just like that my entire savings are gone, and Bank of America just shrugs. Meant nothing to them, they deal with billions every day, why should they care? It's only my entire life savings. I had personal and business Bank of America accounts for over 10 years. I'm closing every single last one and never associating with this disgusting bank again.

    11 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: April 27, 2022

    I tried to open a credit account with Bank of America. They told me as a foreigner, I am not allowed to have a credit account. However, the woman at the office explained to me that there is a specific account for non-Americans that allows me to have a kind of credit account. She explained that if I give them $300, they will open an account and put that money in it then I can use it as credit. I decided to go for it since I needed to put money first to use it. A year later, and after paying for the account and not even really using it, they are asking me to pay the $364 for overdue payments (the $64 is because of overdue payment) like WTF?

    I was explained that I would use the $300 that I gave cash to the woman in the office. Nobody told me that it was actually a real credit account like for all Americans!! After many calls and hours on the phone, they threatened me saying either I pay the $364 or my account will keep being billed overdue payments.

    Don't use Bank of America. They will trick you to have your money and make you pay or threat you.

    3 people found this review helpful
    Loading more reviews...

    Bank of America author review by Barbara Friedberg

    For 200 years, Bank of America has helped their customers, client’s and the community meet their financial goals. Bank of America prides itself in its competitive financial offerings and strong investment in the community.

    • Services: The banks services span general banking, credit cards, loans and investment products. Their services cater to individuals and business customers.

    • Convenient locations: Bank of America’s global reach serves 47 million consumers and small businesses with 4,700 financial centers and 16,000 ATMs.

    • Financing options: The Bank of America loan products includes mortgage, refinancing, home equity, auto, business and more.

    • Credit card products: Bank of America has a suite of credit card choices including cash rewards, travel, low interest rate, small business and cards designed to repair damaged credit.

    • Banking services: In addition to the standard checking and savings accounts the company has offerings for students, online and mobile banking customers.

    • Investment and insurance offerings: The company offers a variety of wealth management opportunities to help customers save for their children’s college or their own retirement. Bank of America also offers insurance products.

    • Financial education: Bank of America is committed to helping its customers understand their finances and provides resources on budgeting and financial planning on its website.

    • Mobile banking: Bank of America's mobile app gives customers 24/7 account access with fingerprint sign-in. Consumers can deposit checks, receive mobile alerts, receive cash back deals and more.

    by Barbara Friedberg Personal Finance Advisor

    Barbara Friedberg, MBA, MS is a former investment portfolio manager with decades of financial experience. Friedberg taught Finance and Investments at several universities. Her work has been featured in U.S. News & World Report, Investopedia, Yahoo!Finance and many more publications.

    Bank of America Company Information

    Company Name:
    Bank of America
    Company Type:
    Public
    Ticker Symbol:
    BAC
    Year Founded:
    1992
    Address:
    100 North Tryon St
    City:
    Charlotte
    State/Province:
    NC
    Postal Code:
    28255
    Country:
    United States
    Website:
    www.bankofamerica.com