Bank of America

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Consumer Complaints and Reviews

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Satisfaction Rating

So I messed up my routing number and or account number this year while filing my taxes, in return they sent me a check. I deposited it into my BOA account VIA mobile app. That same night I went to see if my funds were available only to see my account said negative 888,888.88. I was like, what in the world. Needless to say I reached out to BOA right away! No one can tell me anything. Be mindful this was Friday 3/3/17. Today is 3/7/17 and my account is still saying -888,888.88 and although my funds may be available today the "fraud" may not be removed for another day or two so I may still be locked away from my money until 1-3 business days! Like really?

On top of the insult to injury I was also told my account would be closed and that they don't have to give me an explanation as to why they're closing my account. So despite the fact that I've been banking with them for about 3 years now and despite the fact that I have a car loan and a credit card with them they're making this decision to close my account. I'm in fear that a settlement that's almost 6 figures big may try to process through their bank in the middle of this madness. I've reached out to my lawyer gave them updated information to another bank I utilize in the hopes to catch it before the transfer attempt takes place but they're hurting me and my family at a very fragile time with no regard to us whatsoever.

I don't understand how they stay in business when they treat their customers this way. I'm mad I ever banked with them and am actually pissed I passed up Citi and Chase for them, I do have 3 other bank accounts to use but didn't. Bye BOA no love loss here! I just hope I can get my Tax return without an issue and I also hope the 2 pending deposits don't hit their bank before I can close this account 100%. As far as I can see they erased me like I never even banked with them. After reading other complaints I'm scared they're going to try to take my money and run.

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I typically get paid every Monday. This particular week, my employer paid me on Friday so that I could pay a bill that was due. Anytime I go into my local branch to make a deposit, they always recommend using the ATM because it's faster, and it would save me time by not waiting in line. I started doing this, and haven't had an issue... until today.

Today, I deposited $400 cash in the ATM. The ATM would not accept one of the bills ($20 dollar bill) and returned it. After retrieving the 20, the machine then returned my card and ended the transaction but kept the other $380 of cash. It gave me no credit for the deposit. I immediately called Customer Assistance. I sat on hold for 10 minutes, and then the CSR had to transfer me to the fraud department. After sitting on hold for another 5 or so minutes, the next CSR got on the phone, and had to then transfer me to the ATM department. After sitting on hold for another several minutes, I got the on the phone with the correct CSR. I was then told that my claim would investigated, and that it would be resolved within 10 business days.

The CSR was able to see that there was a transaction malfunction in that particular machine. He was able to also see on my account that I deposit the exact same amount of money every week. I was told that the $380 could not be credited, and he literally said "I appreciate your concern and frustration, but sometimes this is just how it goes". Seriously... that's the response I get? If I spoke to my customers that way, I would be fired immediately.

They literally said their policy is in line with federal requirements that investigations are required to be resolved within 10 business days, and that crediting my account pending their investigation is not part of their policy. I asked for a supervisor, and he basically said they don't have to credit my account, therefore they won't/can't per their policy. Per my policy, I will not do business with any company that does not value their customers.

Once my hard earned money is returned to me, I am closing my accounts, and taking my business to a credit union. I realize that the pittance I earn and keep in their bank is not even a drop in the bucket of their overall business... but at least Credit Unions value hardworking middle class folks like me. I know a Credit Union will not offer all of the online luxuries that BoA can, but those luxuries are useless when they lose your money and do not care.

At some point, we as a populace have to start holding these large national banks accountable in the same way that we are individually. The Supervisor said all he could offer was an apology... to which I explained to him that "apologies" carried no currency value, but I would try to see if my debtor will accept "I'm sorry" as a substitution for currency.

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If I could give Bank of America 0 stars I would. This bank is the worst. I put the wrong pin number at the bank and I was still able to get my money. Then I went to a store to buy something, I put the correct pin number and it didn't go through. That doesn't make sense at all!! This bank is full of **. It takes forever to get

a representative on the phone and they don't even call back. They give wrong information. Bank of America needs to shut down immediately!!!

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Bank of America placed a 10-day hold on my payment because I paid a different amount than I usually do (the balance of the account vs. minimum payment). I had made the payment on Monday, it cleared my credit union on Tuesday, and I made payments using the credit card. On Thursday, I called them because there was no available credit even though I hadn't reached my limit. I called them to no avail. I closed my account.

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I have been a Bank of America customer for a decade now, in Albany, Oregon. This past year they closed the local branch and NO LONGER have ATM available within our city. Causing many overdraft fee. They are unwilling to remove these even though it is 99% due to unavailability on their end. Making an avalanche of other financial issues. They have hour long wait times to speak to an agent, with no resolution. That's what is called, "THEFT BY A BUSINESS", no access to ATM or TELLERS. Dangerous highways to the nearest banking center makes adding funds impossible. I think Albany, Oregon customers need to be reimbursed all overdraft fees due to bank fraud. Making it impossible for non-driving, sick, old, and poor people to use their funds and bank machines seems undeniably WRONG.

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Please never deposit any coins with Bank of America. Now in the new system they have to ship out your coins before transferring the fund back to your account. They do not count your coins before shipping out. The last two times I went to deposit my coins they cut me short. I'm make sure I count 3 times before taking it to the bank. The first time it was like a nickel short and this time $3.70 short. I suspect someone is taking my coins before shipping them out.

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Today I went to the Elm St, Westfield, NJ branch to make a deposit. I went through the drive through. The deposit was for $54,346 and I was given a deposit slip for $346. I'm not sure whether to chalk this up to human error or to chalk it up to fraud!

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I am a small business owner. I was sold credit card processing thru a sales person Jaduious ** at 804-515-2973. He told me my rate was 1.67 0/0 and that was it. I went line by line over the contract with him. He assured me no matter what card I took the rate is the same. Well after my first transaction of approx 21k I was charged over $2300.00. I didn't think I had a partner. I called the salesman and he never returned my calls. I called customer service department and they said they would have a manager call me back within 24 hrs. What a joke. A week later I got a call from a manager who said Jadiuous made a mistake and they are not willing to make a adjust. STAY AWAY FROM THIS COMPANY.

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I got a check from my insurance company progressive due to a accident I had, I put the check in Bank of America on the 1/12/17 so I can pay for my car, bank of America close the account without any notice. Now I can't get my car. They told me I had to get prove from progressive. They give me the letter that am the person they issue the check to. I bring the letter to a local bank near me. They fax the letter to Cindy **. She told the teller in the next 24 to 48 hour they would get back to me. Up to now. I call them every day asking about my check they told me they send it to the back office. Right now I need my car for work so I can feed my family. My job even threaten me about fired due to my attendance all because of my car. Today is the 2/09/17 and I need my money.

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Bank of America failed to update my mailing address and billing preferences, as provided. Therefore, when you moved across the state, we did not receive our statement/bill. I received a call from BofA, notifying me that they had not received our payment. I made the payment on the spot, and again had to instruct them to update our billing info. They acknowledged they did not update our preferences, as we previously requested. Yet they still proceeded to report us as a Late Payment on our credit report. They are now refusing to remove the negative information that is negatively affecting our credit. LOSERS!

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I have put up with the high fees for years now but today was the last straw. My balance never actually reached below $0 yet I was still charged with an overdraft protection fee ($12) plus they took money out of my savings (almost $15) to "cover" an overdraft that wasn't even existent at the time. Now I get hit with another $10 fee because they withdrew from my savings!

I called them to ask why and the lady basically said that if one of the processing transactions went through that it would have been a -$2.10 balance. But it's still processing! Nowhere did it show that I was at a negative balance. I knew I had over $200 being automatically deposited last night... So before there was ever a $0 balance, there was over $200! If you bank with BOA your money is leaking out like a sieve. I will never bank with this horrible corporation again. Now that I read up on how bad this company actually is, I will be recommending to everyone I know, the same thing... Take your money and leave.

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I opened a new account with a different bank that sent Bank of America a notarized letter to close the account and transfer funds. Of course they didn't do so. I acquired over 500.00 in fees for the account that was suppose to be closed that they never closed. Really, really angry now. They say that they wouldn't close the account. The letter gave the bank legal notice to work on my behalf.

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The customer service agents are not ready to help when you are in trouble. The entire system is failure. I do not know how this country still keep doing business with them. Really ** people always trying to cheat customers money. Simply following computer they don't have brain at all, no sense too. I deposited the check. After 24 hrs the money was available to spend, but two days after they are pulling back money from my savings account. This is totally ridiculous. Now they say that cannot collect the check. Really stupid people.

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Don't use this bank if you are gonna send/receive, PayPal, or buying online stuffs, they charge you the overdraft fees up to 4 times/day $35 each. NOTICE: they give you no time to deposit the money, they charged me 3 times $35 in a night (I got $4k in my bank, for some reason all my money was transferred to another account). Other banks like Wells Fargo or Chase will give you 3 days to deposit the money.

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On 2/1/2017 I got an alert from Bank of America that my checking account was below the limit I set on my account. I noticed 2 payments still processing and went and withdraw cash from another account and deposited into the account. After the transaction I obtained a receipt that showed the cash amount I paid into the account and my current balance. Surprising the next morning the 2 processing transactions, which were still processing 3hrs after the cash deposit, cleared, the cash deposit shows processing and BA charged my account $35 overdraft fee. I called the customer service on this regard was told, they cannot do anything about it. If the transaction is still processing can the bank charge overdraft fee, since the customer made cash deposit into the account while the transaction is still processing?

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I manage a small business and EVERY SINGLE TIME I get paid by a client, I am charged a $15 transfer fee. That's not all! I also get charged over $35 every single time I get paid by an international customer + the other $15 transfer fee. How is one supposed to make money when your bank is literally eating it all up. That's not all! If you get on BOA, expect to spend at least an hour and a half on hold on the phone with them if you ever want to get anything done.

That's not all! Automatic bill pay is not easy to set up -- it's how they get you and charge you those fees they do so love. You have to fill out a bunch of paperwork in order to set up automatic bill pay. If you're a digital type like me, you have to go in person to one of their horribly run branches to set this up. I can't tell you the amount of times I've made appointments far in advance only to be told I have to wait hours at their branches. When you do jump through all those hoops to set up automatic bill pay, don't expect it to work for another 5-6 months because, hey, we're all about the fees! PLEASE DON'T PUT YOUR MONEY WITH THIS BANK. It'll be the biggest mistake of your life.

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Purchase Protect Via Credit Use- I purchased 12/23/2016 a cell phone 5S on eBay and it turned out to be defective. The battery inside was ready to blow up and we were instructed by Apple iPhone company to remove it ASAP. I contacted eBay seller trying to resolve to no avail. Tried going through eBay return no way because I removed the dangerous battery they say it is not in its original condition. PayPal same thing and Bank of America denied my dispute as well. I have been a long standing customer of Bank of America and since they were not willing to assist in this in any way I said to close my account.

They were heartless and uncaring. I tried to find a corporate number and they hide behind Customer Service number. Even the CEO Brian T. Moynihan's supposed number is the same Customer Service number. Their corporate filing uses the same number. To me they do not want to deal with the customers who make them what they are, Wealthy! I am not done I will tell everyone of my experience with them and will never have anything else to do with Bank of America or their affiliates, which some of us know who they are too.

Update: 1/27/17 I revisit eBay resolutions dept. and finally got them to understand the danger involved with the cell phone battery. They promptly refunded $120.50. So I thought I would try to appeal to BOA's conscience and spoke with several people and eventually elevated to a Joel who stated he would reinstate my card. He proceed to ask me for my financial income yearly and other personal questions. I asked you are not dipping in to my credit report are you? His answer was no. Joel stated it would take approximately 24 hours for it be active again.

On 1/31/17 I received a call from someone in the Collection Dept named I think Adel who was following up on my complaint with the BBB. He informed me that my account is closed permanently. He was going to see what he could do and get back to me. Today being the 2nd of February 2017 I tried calling various numbers till I finally reached someone named Doran not sure of spelling. Doran listen and forward me to Shea who forward me to Sear. Keep in mind that every person I spoke to I had to retell my story even though I asked the to inform the people that they were forwarding me to so I would not have to repeat myself.

So now Shea was unaware of why I was calling and again I told my story again. Now Shea basically tells me that there is nothing they can do. It would have to go to the Credit Department for approval and dip into my credit again! At this point I decided to forget it, it just is not worth dealing with a business who does not care about the customer who has made Bank of America who they are today. In the last 6 months I charged and paid off in full well over $10,000.00 and I am or was a great customer. These guys just don't care. Too Big to Fail sound familiar... or is it Too Big and don't Care. Concluding: Paid off the account early and am no longer interested in doing business with Bank of America or any affiliates under their umbrella.

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Perfect!

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My 17 year old was a victim of fraud on her Bank of America checking account. I am jointly on the account which was set up 2 years ago when she was 15. We received no notification of the fraudulent activity, but rather the account was closed and daughter's information was sent to Chex systems. I asked them if this was the normal process for fraud without doing any investigation and they said yes. I have filed a police report, as well as a report with the FTC. Because Bank of America has sent the account to Chex systems my daughter is unable to get another account with any bank. I am still in the process of trying to get this situation settled. Bank of America's customer service has been awful to say the least.

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Now when I go to the bank, I'm in a line waiting with maybe 6 other people for at times up to 20 minutes or a half hour. We all complain to each other that this is a new phenomenon, that they've reduced the tellers down to only one. Bank of America execs are probably sunning themselves in the Caribbean, while we are in line so they can save a buck by not paying tellers. The manager told me they want us to use the ATM. Only I deposit cash and the ATM spits it out and apparently a small percentage of the time it actually takes my money and then chokes up so I have to spend a half day trying to call B of A. I'm changing to Chase.

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I have this account with BOA since about 2011, it's no monthly maintenance fee when I opened this account. As I remembered, I had never been charged monthly maintenance fee on this account until Oct. 2016. I met with BOA associate and discussed to close some of my BOA accounts in their branch in Vienna, VA about June 2016. The BOA associate mentioned these accounts were old product in BOA, without monthly maintenance fee. Most of the new product charged monthly maintenance fee. So I canceled to close the account.

I had not received letter or notice from BOA that they would start to charge monthly maintenance fee for this type of account either. Otherwise, I will definitely chose to close the account or convert it to other type of account or keep the balance or set up direct deposit etc to avoid the monthly maintenance fee. I set up a direct deposit for this account in Nov 2016 before I knew this reason.

Therefore, it's very unreasonable that BOA changed the account policy without notification customer and started to charge customer the monthly maintenance fee. I have account with CITI, PNC, Capital360 etc. Bank, had not met these type of issues so far. Obviously BOA keeps using these tricky way to get money from customer, just like stealing money from customer's pocket. I believed that's one of the reason why BOA was rated as the worst business in US. BOA should stop using these ways to get money from customer. I called BOA many times in order to resolve the issues but never reached. I strongly request BOA to refund these unreasonable charge asap.

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Horrible, horrible bank with multiple hidden fees!!! An absolute rip off!!! Stay as far away as you can...the customer service is a joke and they set their fee system up to rape their customers! WARNING!!! It should get negative stars!

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Mobile deposited check into my account. BOA, did a standard 2 days hold. Gave me the 1st $200. I'm like ok. Then 2 days later, the day the hold is to be released and my large deposit made available to me. BOA, placed a new hold on the check, removed the $200 from my account and never notified me about any of this. I tried to make a purchase and was declined. Call BOA, they advised me that their system indicated that the check I deposited was going to bounce. Funny thing is, I wrote the check from my other bank. Guess what, it didn't bounce and cleared the account. BOA, doesn't care. They refused to remove the 9 day hold from my account. Needless to say, I will be closing my account and using my Credit Union. I hate you BOA! Rot in hell... Seriously.

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Directed by the state of NJ to switch to Bank of America. I got a 4 year card that I didn't keep in my wallet. When I got the next 4 year card I kept it in my wallet. A year later it wouldn't scan in the machine possibly because the card was scratched. This happened at the Westwood NJ branch with all 3 of the machines. They gave me a new card in the mail and no one at the Westwood branch would help me.

The machine at the Hillsdale NJ branch seemed to be more durable at reading card that were scratched. I've tried to get e-banking this month again. No one would help me at the Westwood branch when they were open which was another issue with their poor hour and my job. Now I'm have hard time trying to get e-banking online. I'm switching banks as soon as can. I also have headaches from Bank of America.

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My husband was dying of cancer and he pushed himself to be sure he got ten years in teamsters so I would have a pension. Well the pension is only $38.00 a month and it's direct deposit into Bank of America account him and I started in 1991. He passed away and the pension had been going into that account then about five or more years ago Bank of America just started charging $12 a month on the account because balance too low I never changed the account. They just started charging this so they now take $12 every month out of the $38.00 pension. I have tried to find out where the pension comes from to change it to another bank but they have refused to cooperate so they are monthly just taking $12. They are rip off and hopefully someday something will be done about them.

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I just opened a savings & checking account in the beginning of December 2016. I made at least 3-4 deposits since and upon trying to make another deposit on Friday 1/20/17 at the atm, I'm being prompted that my account cannot be found. After several unsuccessful attempts, I went to check my online account and cannot log-in. I call customer service and was told that they made a business decision without explanation to close my account. No warning, no notice, just up and closed my account. This is horrible business and another reason popular trust in the banking system is fallen. I will never give my money to this bank ever again and I hope everyone moves their money out to a bank that has better practices.

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I have been with BOA for almost 10 years. In the last few years, things were going well until I struggle financially. Things got better. I was able to manage my accounts better and continue using the e-bill system. Last year, I noticed that I started accumulating a lot of overdrafts. I thought that I needed to go back to controlling my finances better. This month, I starting taking pictures of the e-bills I was sending out because I noticed that e-bills were not getting posted when I requested them to be posted on my account. As a result, after taking pictures, creating an spreadsheet, etc. that some of the e-bills were not getting withdraw from my account as scheduled.

I call the e-billing department to investigate few of these e-bills. The response was that those bills were drafted and they were taking out of the account when the recipient cash the checks. I explained to the representative, that I have been using e-bills for the longest time and I always got the e-bill drafted on the day I schedule them. I was told that because of my previous history, that was not an option anymore. As a result, a check I sent on 01/02/2017, was withdrawn on the 25th (apparently when the other institution cashed the check) but what was interested is that it got cashed on the only day I did not have sufficient funds (23 days after I scheduled the payment). I went back again and I noticed the trend. Bills sent out but not cashed as scheduled.

This is an unfair practice. If I would have not had a financial difficulty in the past, I would have been able to continue using the advantages of what an e-bill payment truly is (send the payment and get it deducted on the day scheduled); instead, I send the payments and it get posted randomly (like the old days of paying bills). Because I lost trust, I closed my BOA account after more than 10 years of being customer.

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My husband account got hack. They gave us money 80.00 and didn't not tell us they would take it out. How can they do this? Go in someone account and use their debit and take out. I try to talk to them and told me there nothing I can do. I had pay bills and now I'm going to be late. Things shut off cause they had to take out. I not trusting these banks at all. Now I'm overdrawn 26 dollars cause of this. It's not fair at all.

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I have been with BofA for several years now and I absolutely hate them. They always charge either a maintenance fee of $12 or overdraft fee of $35. This is absurd! What bank does that?! Oh wait, BofA does. When I was a full time student I had no income and so my bank account would go lower. Now that I'm working, I don't even want my money being put in this bank account cause they would find every possible way to take it. This is **. I'm going to take the remaining money left in my account out and closing this account. I hate BofA for taking my money for stupid fees. DONT USE BOFA.

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I joined this bank in November or so. My boyfriend was depositing money via one of the ATMS and the atm malfunctioned. He reported it and told me it was $608 dollars. They placed a claim and only refunded $308 dollars. Spoke with them about that and they said I would have to set up ANOTHER claim. Second screw up was when someone stole my debit card information and used it at an ATM three times back to back. There was also charges for ATM fees for looking at the balance. This all happened at an ATM at a casino I've never been to. I placed a claim for it. It was denied because they did not use the card again. I would say they didn't because after checking the balance and noticing the card was locked AND there was no money left in the account, what would be the purpose of trying to get more money out? Bank still denied the claim. Closing account asap. Reps at every Bank of America I've been to are rude anyway.

Expert Review

Barbara FriedbergPersonal Finance Contributing Editor

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.    More about Barbara→

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.
  • Best for Bank of America offers suitable banking products for all consumers.

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Bank of America Company Profile

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:
http://www.bankofamerica.com/