About Bank of America
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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
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Even though it did take me a while to get what I needed from the automated voice operator, the call wait time was very short. When I talked to an employee about interview questions for my school assignment, she was very supportive and kind. I typically have positive interactions with BOA. The bank is able to support individuals to start out and build a future for themselves. They are fair in their business practices.
I’ve had BoA for about 5 years. It’s an amazing bank versus Chase and Wells Fargo, both of which I’ve had before. The only downside is the $35 overdraft fee. It’s a bit problematic for any bank to have such a high fee. Logically speaking, if a person already can’t afford something what makes you think they could afford an extra $35? Otherwise love this bank.
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I had many different types of accounts with the Bank of America since opening my first account in year 2008. To date, all accounts operate and have always operated exactly as advertised. Never seen their website down. Never had any problems with any transactions (plastic card, electronic transfers, checks, etc.). BoA is quick to resolve fraudulent charges. Staff members across multiple branches I visited in those years have been welcoming and professional. I believe I am a tough rater, but I cannot think of anything else to even wish for. Through those years of 100% proven reliability I have gained a great confidence in the bank.
I have banked with Bank of America (BoA) ever since they were NCNB. I’ve seen the highs and the lows, as they say, with BoA development and my own financial challenges. The one thing I will say is that I’ve always been able to go to a branch, or call a number and have an issue clarified, explained or resolved, usually in my favor. Currently, I am a “Platinum” member customer (never thought I’d see the day), so I enjoy a number of perks. I like that I have BoA AND Merrill Lynch at my fingertips and easily accessible on the BoA app. I study the operations of other financial institutions, and while there’s some innovative ideas they present, such as Capital One’s “cafe” set up, I’ve seen those innovative ideas come and go (Washington National [Wachovia] tried it back in the 2000’s). Slow and steady wins it, for me. That’s what BoA does for me.
My only problem with Bank of America is they don't have individual health savings account. My company does not offer this as a benefit but my company's health insurance does qualify under the IRS rules as a high deductible health plan. I would like to open one for myself but BOA does not offer it so I need to go elsewhere to open this type of account; which is a pain since all my banking accounts are with Bank of America.
I went to Bank Of America in Ladera Heights in 2014 to encash my check that was issued by my employer as my salary for the caregiving services I rendered. At beginning Bank Of America let me encashed my check. That time there’s no payment to encash a check if you have no account with Bank Of America. Until few months the teller manager was not happy that I encash my check. He wanted me to open an account. But I refused coz I had a Credit Union account that time. Only the branches are too far. In short the teller manager stopped me and my reliever to encash the check. The teller manager said that my identification card has a problem. But that time I never complained coz my patient passed away.
Last July 05,2021 I was hired by Mr. ** as his caregiver for 5 weeks. Every week he issued me a Bank Of America check but every time I encash the check there’s a problem with my California Real ID. But with all other banks I had no problems except Bank Of America. I want explanation from Bank Of America why my California Real ID has ongoing problem but in other banks there’s none. But the teller said if I’ll open an account there’s no problem. I don’t like I’m being forced to open an account. I have the right to encash my check. I worked hard day and night and I cannot encash my check. I am using an online bank and there’s no mobile check deposit features. Please help me end this discrimination.
Bank of America advertises opening an account completely online. So I did this on a Saturday and was approved and given a account complete with online banking. They took 100.00 from my bank account at Wells Fargo and set me up with username and password. So I then made a mobile deposit on Sunday of 2500.00. Monday morning my account was locked and had to call them. They told me that the account was being closed because they could not verify my identity??? That seems odd since they cashed the 2500 mobile deposit I made and debited my account for 100.00 to open the account. So now I have to wait until they officially close the account and mail me my money back! Or I can drive 2 hours and present my info in person and get my money or open the account! Wow that is messed up, someone tell me what is happening in this world! Do not go to Bank of America!!!
On 5/28/21, someone went inside a branch location I have never been to, presented a driver's license with my D/L # and signature on it (presumably different photo), told the Teller they forgot their account number and ATM card to swipe. They showed the D/L ONLY, replicated my D/L signature "close enough" on a withdrawal slip, and walked out with most of my money!
After 5 weeks, the Bank of America Fraud Analyst has done ABSOLUTELY NOTHING yet, and when I call almost daily for an update, I hear the same things: "Thank You for calling Bank of America, where your protection and customer service are our priorities." Nothing could be further from the truth!! I had to go to the police to get anything to happen, and the investigator has subpoenaed the inside and parking lot videos from the bank. Thank God the Police Investigator is helping me, and doing the B of A Fraud Analyst's job, or I might never have my 5k returned to me! I am a 30-year customer with B of A, and all I am told is that "the Analyst has 60-90 days to resolve the claim." I lost my job, I have no money, I don't have family, so I am desperate and the bank doesn't care.
I have an account with Bank of America to pay for my safe deposit box. The charge for the box is automatically withdrawn from the account each year. This year when the charge was withdrawn it brought the balance down below the minimum. The account was below the minimum for approximately 10 days. They charged me two $12 monthly maintenance fees! The day the safe deposit fee was withdrawn (by Bank of America automatically) was the last day of one period and then since the account was below for a few days in the next period I was charged again!! I called and since this has never happened before and I have other accounts with Bank of America I thought it was a mere formality to get the $24 refunded. Wrong!! Unbelievable!!! I told them I will close the safe deposit box and take my business elsewhere. I just can’t believe they would think that’s any way to treat a customer!
So, I called in to see about a wire transfer as I'm a consumer getting a car. The representative I got was not fluent in English and neither of us understood each other that well, so she got me a supervisor who helped me out. The issue I have is this: consumers can't do electronic wire transfers, only businesses can. There's not even a form you can use from the mobile app to print, fill out, and scan to put through the app for review. I get it: you need a paper record of everything, but why can't I just get you the paper form in-person at another time. I guess I have to do that tomorrow at my branch since I can't do it today over the phone or digitally. I get the reasoning, but also, there are ways you can make this more consumer friendly. I just really wish there was a slightly upgraded way of doing this as it is massively inconvenient.
The hold times are also brutal. I was on hold for 40 minutes. That is inexcusable for a bank this big. I'd recommend upgrading customer service in some fashion, just so consumers can reach a representative sooner. I shouldn't have to be on hold for 40 minutes to be told "go to a branch." Also, I recommend upgrading the wire transfer issue for consumers. At least let us print and scan the forms into the app for approval. We can do that with checks, so why not with wire transfers?
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.
Bank of America Company Information
- Company Name:
- Bank of America
- Company Type:
- Ticker Symbol:
- Year Founded:
- 100 North Tryon St
- Postal Code:
- United States
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