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Is anyone else having this problem??? I have a small business that accepts payments through PayPal. Every night, my balance is swept from PayPal to my BofA account. Normally, deposits flow in like clockwork and appear in my bank account overnight, but from time to time, they just don't. My one-day turnaround can turn into 3 or 5 or 7. I don't normally keep a very large balance in this account because it is strictly for paying business expenses. So if a deposit doesn't hit the bank account and a bill gets paid, I overdraft and get charged a $35.00 fee. Last week this happened, but I never received my overdraft notice until 3 DAYS LATER!! They refunded me the $35 charge, and - as always - blamed it on PayPal. PayPal blames it on BofA because they provide me with a transfer transaction ID number and record of the transfer as soon as it is processed.
In an effort to prove BofA is doing this on purpose, I have begun processing a partial payment to my operating account and the rest to my savings account. And last night, it happened again. The larger deposit to operating did not go into the account, yet the smaller one to the savings account did. Overnight processing is supposed to mean OVERNIGHT!! Not 2-7 days later! Someday, someone is going to file a class action lawsuit when they discover BofA is doing this on purpose so they can collect overdraft fees from their account owners (kinda like Wells Fargo's fake account problems) and they are going to get stuck big time! And I will be second in line... All because their customer service people refuse to even entertain the idea that there is something (accidentally or on purpose) glitching in their system.
Bank of America screws up my account every month. It is easier to get someone at the White House than to get a live BOA representative in the phone. Everyone in my family is locked out of their on-line account. I understand security, but this is ridiculous. I am moving all of my accounts to another bank.
I used the mobile app several times to dep my paycheck and this last time they had said that it was fraud check and could not be read. If I had not contacted them I would have never know this. They were sending me a damn letter of all things and I call my employer and they are pissed. It is not a fraud check. So I am sitting here no Bank of America within a 2 hours of me and no gas to get me there because the mobile app is screwed up so bad that it could not read my check. Monday morning going to a different bank. Bank of America can go to hell.
I was calling to close my BOA Amtrak card a few weeks back and was offered to switch to BOA Cash Back card with the same acct number. So that's good... However, I did not finish the conversion on that call but called again today - the agent who received the call today said she has no idea that can be done at all. So hilarious and so poor a training quality of BOA customer service. No wonder why I am seeing so many 1 star reviews.
Let me first say that the customer service representatives I have spoken to at Bank of America were all friendly and willing to help. That is the reason I gave this bank one star. Their wacky billing practices are the reason I can give them no more. I started using a cash rewards card a little over a year ago, and I have had nothing but problems with it. My intent was to use it for my monthly purchases in order to get the cash rewards then to pay off the entire balance every month so no interest would accrue. I can only conclude that Bank of America does NOT want anyone to avoid interest charges. I think they must COUNT ON interest charges because they made it practically impossible for me to manage my card payments. I noticed right away that there was no option to pay the entire balance when setting up an automatic payment. I called and was told I had to request that kind of payment by direct mail with a special form.
They sent it to me, and I could not make heads or tails of it. I was honestly afraid to sign it because of all the stipulations. So, I tried to set up an automatic payment system online. The date they chose was purposefully one day AFTER my bill was due. I couldn't change it. The rep on the phone assured me it was the correct date even though I was looking right at the letter that had come with my card that said otherwise. I went ahead and set it up to pay the minimum fearful that at some point I would meet with unexpected medical bills. If I had the money, I would get online and pay the balance before the day it was due. I have another credit card from another company, and if I make an early payment, it automatically cancels the auto payment scheduled for that month. Bank of America DOES NO SUCH THING.
If you make a payment in advance, you will also be billed again even if that means they have to give you a negative balance on your account. I had to monitor my account constantly in order to understand whether my balance was in the red or the black. I tried paying by phone, once with the automated teller and once with a live person. It didn't work either time. What I mean is, I paid my bill then in the next day or so, the exact same amount was automatically withdrawn from my bank account. When I called, frantic to get refunded, they told me I would have to wait at least three days to make sure the overbilling had cleared before they could refund me. WHAT?! When it was all said and done, this happened three times. Three times I tried to pay my bill, and three times the amount was withdrawn from my bank account twice.
I have canceled the card only to find out that it isn't really "closed." The last and final balance that I paid was, once again, withdrawn from my bank account twice! I called AGAIN to get a refund. This time I was told that if I really wanted to deactivate my account I had to call a separate number. The service rep had me on hold for several minutes only to apologize that the office where they cancel cards was closed and that she couldn't give me that number anyway. I would have to call back and go through the automatic teller menu again.
I asked if she thought I should maybe wait until I was sure the refund was credited to my bank account, and as serious as can be she said, yes! She said she thought I should wait to cancel the card to make sure I got my money first. Unbelievable. The bottom line is, Bank of America does not want you to be a responsible payer. Their billing system is rigged to cheat you. It is a dirty, underhanded way to do business, and I can't wait to be rid of them once and for all. Unfortunately, I fear my trouble with them is not over. I will have a chilling dread of being billed at the middle of the month for a card that no longer exists at least until spring.
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My daughter deposit a check on mobile. She only 19 first time. They told her, her check would not clear after 15 days or so. She needed money to go to work and light bill was due that day. They said it was nothing they could do about the money being released early. So she asked what if showcased it. They said they charged her a 12 dollar fee because they would return check back. This did not happening checkered it. She called about 5 times in they said they would take it off in 3 to 5 business days and return the money. Then she called back because the money was still there. Then she was told they should never told her that and they don't return money back in go to the place she cash it and give them the money back. I tell them it was Bank of America fault. What kind of business is this. I feel it’s a set up.
I was open account online was they approve, I was got few debit card in the mail, I was trying activated. The screen say account is canceled, I was called to BOA. Vanessa who have a Indi accent told me, "We refuse anyone" if we want close account without notice. Feeling like I am garbage or not welcome to this bank, she never told me why or any eloquent, professional or lie excuse. DON'T OPEN business, close your business with this bank.
So when I started a bank account with this bank on March I was having great experience. The people were nice and helpful. But the online banking been pissing me off lately. So I needed food at my house and had 24.68 in my checking. I had spent 25 thinking I could transfer the .22 from my saving to checking. It was 6:00 pm and for some damn reason it kept putting it that I couldn't transfer money till tomorrow. They did this on Veterans' Day as well but I let it go figuring it wasn't working for the holiday. So I had .30 in a schedule for it to transfer in the morning. However when I checked my account this morning they took out 12.00 out my savings from overdraft protection, and it says that it happened yesterday. I kept checking my account waiting for some money from eBay for refund and I didn't even see a overdraft protection on that day. Lately transferring money has been garbage. I really need to change banks.
I opened an account online with B of A and apparently was approved because I received a debit card, later a pin number and checks. I deposited a check from my current bank and waited a sufficient amount of time for it to post. I then went to the B of A ATM to change the pin number and make a withdrawal, but was denied. I decided to wait another day or two thinking more time was needed for the check to clear. Two days later, I receive a letter from B of A citing suspicious activity with the account and it instructed me to call their CSR to clear it up.
I called and they informed me they are no longer interested in a financial relationship with me and that they don't have to give me a reason. I asked about my deposited check and at first the woman said nothing showed, but then she 'checked somewhere else' and it showed pending and when I asked when I would get it back I was told 6-8 weeks. So far, the only 'financial relationship' I have had with B of A is me giving them money and them saying a proverbial "psyche!". Something is not right about this setup and they should not be allowed to continue such practices. I am going to throw a proverbial "rod" if I get charged for ANYTHING.
I wish I could give a negative review to fully capture my frustration with this utterly ** bank. Eight days ago, I had a check sent to my parent's house as I was in the process of moving. He cashed it in person. For this BoA charged me $8.95 for a monthly maintenance fee. I thought this was cynical, underhanded and adversarial, but, in fairness, I agreed to them being stingy ** and never using teller banking, so technically they could charge me. That is the most generous thing I can say about them. What follows was a ** show.
I get an email saying that I was hit with both overdraft protection and an actual overdraft protection fee, for $35 and $15 respectively. I thought this was strange as my Dad had just deposited some checks on my behalf worth almost $1000. I look to see that there had been a debit, with no details as to why or from whom, for $660. I call them up and ask them to explain. One of the checks was being held because it had been flagged for an error. "What error?" "I don't know. They don't know. They should let you know by next week." "I need to wait a *week*? I'm not waiting that long." "I can put in a special request and have it sped up to three days".
I call up my Dad and tell him the situation and say "I need to make a rent payment here, Can you send me some money so I can pay them now?" He has a different bank, so they had to do a test credit. Bank of America sends the test credit back, which triggered an automatic feature to pull yet more money from my savings account, and charged me $12 for it. The test credits were for a total of $0.38. They charged me money just to see if I could money in my account electronically. They then did this *again* when they added back the check and then immediately debited it again! Just so they could charge me the fees! I literally did nothing to warrant that.
To top it off, when the transaction cleared my Dad's bank, BoA had *no idea* where my transaction was. It's just sitting in limbo. I had to manually enter cash into a BoA account so these stupid Overdraft protection fees would end. ** this bank. ** their useless twitter account. ** the customer rep that told me *explicitly* that I would not receive any more Overdraft related accounts. I wish I could give them a negative ** review, and then keep double counting it every time they viewed it just to see what epic ** trolls they are. Looking for a new bank ASAP.
I have been a BofA customer for more than 40 yrs. and have a credit score over 800. I have discovered that BofA seems to have a predatory program associated with their online software that locks people out of their accounts just before a payment due date. This has happened to me frequently in the past if I established a pattern of paying online by transfer from another bank.
If they can delay your ability to pay by regular online transfer just before your due date, you will be charged a late fee, or at least be made to call in a payment for another added fee, usually about half the price of the late fee. They use the excuse that you have attempted to sign in numerous times without success, so this has forced them to lock your account. The problem with this is that you can avoid signing in totally and they will still send you an email saying you have been trying unsuccessfully (exceeded the number of allowed attempts) to access your account. Several year ago I went to my local BofA branch and told them of this pattern and also told them I would not use my online account anymore, and they should please close it out.
I thought they might have changed their practices by now and re-enrolled in online access about 18 months ago. This access was without incident till recently, when the entire scenario has repeated. At this point I have decided to simply make payments in person, rely on my printed statements for balance info, and ignore their online scamming.Their predatory software is likely not even recognized by most of their employees, who assume you are actually not able to remember or input your username or password accurately. I'm not a fan of this company and if it were not for the high limit and low APR I have established in 40yrs., I would close my BofA Visa account and never look back. I'm just writing this review to alert others to this scam.
Bank of America continues to commit fraud in my eyes by charging over draft fees when there shouldn't be. In my case, I checked my account at 11:59 pm and then again at 12:01 am. The lady in the office told me the check came in on the 30th, the woman on phone said it posted after midnight on the 31, but came in on the 30, so I was charged a $35 NSF. This is fraud in my eyes. They never showed a post on the 30th for a check until the 31st after they charged their fee. The alert that I am supposed to get to warn in time, so I don't get a fee I got on the 31st at 1:44 pm. Did they refund the fee? Heck no.
They told me it was my fault that they are frauds even though they have been found guilty and sued for this before and that they have been known to move your transactions around so that you will incur fees and plenty of them. I saw a women's post about this, and I have seen them do this on occasion myself but have been lucky enough to deposit money into my account. I will say this, I am sick of BOA. I will be finding me a friendly Credit Union to put my money and retirement funds in, and all other investments. It may not happen today, but it will happen. They just lost a 20-year customer. I am done baked fried over the bull crap.
I will try to keep this as brief as possible. Upfront, I want to explain a bit about me. I have always had very good credit. I also always pay more than twice the minimum payment every month on my credit cards. My BoA credit card is no different. This month, however, we have been abnormally strained financially. First and foremost, my husband and I recently bought our first house. I have also started a new business venture which, while requiring some start up money, is slowly starting to pay off. And, most recently, I had to be out of town for a week. My entire family gathered in St. Augustine to attend a funeral in honor of my late grandmother and, seeing as we were all there already, we collectively decided to indulged in an overdue reunion on the beach.
Point is, as you might imagine, this has not my average month. Money has certainly been needed in a variety of places all at the same time. And, while I own the responsibility of the debts I have accrued (and have every intention of paying them off responsibly), I am currently over my limit on my BoA credit card. I will only add that this card was not declined, though, whenever I tried to used it. Anyway, one evening while I was out of town in St. Augustine, I got to fearing that my BoA credit card payment might not get paid on time. You see, until this month, I'd been paying my card through a bill pay option through my checking account with Ameris Bank.
I knew that option took a few days to get processed though and, looking at the calendar, I wasn't sure it would go through fast enough for BoA not to charge me a late fee. Thus, that night, I chose to try to pay my BoA monthly bill through their webpage first. From what I could tell, though, the BoA website payment didn't appear to go through. I received no confirmation of my payment. I left that attempt rather confused about what I might have done wrong. Then, I remembered that I'd installed the BoA app on my phone and I suddenly had the "not so bright" idea that I should try to use it. When I tried to pay, though, it kept asking me for verification that my account was actually my account. I didn't know where I would find the information the app wanted.
So, I ended up calling BoA credit card's helpline and opting to pay $150 towards my card while speaking with a live person. I wanted to make sure that it was done right, that I wasn't going to be charged multiple times because I was confused about how to pay electronically, and that it would all get paid on time. I spoke with a customer service rep from there and left that conversation believing that the matter was resolved. She processed my payment over the phone and assured me that no other charges were showing up in her system.
A couple of days later, still on vacation, I checked my private checking account's balance and was shocked to see that I had been charged $150 THREE TIMES. This left me overdrawn and because I was overdrawn, I also accrued two overdraft fees from my bank, totaling $70. Obviously, I immediately called BoA to get the other two $150 payments refunded. The woman I spoke to tried to help, saying she understood my frustration about all this but, she then told me that she couldn't refund the $300 that BoA had basically stolen because I had been over my limit when BoA accepted that payment. This made no sense to me. I tried to explain that, I didn't have to pay even the whole $150 I intended to pay to remain in good standing with BoA. I drew her attention to the fact that I HAD CALLED to make sure that my monthly payment did not have this problem.
I told her that it had caused me to be quite overdrawn at my bank. She apologized for the hassle and agreed that the fault was with BoA. She said, however, that the best she could do is try to explain to the powers that be why they should refund the money and that that process could take 2 to 6 business days. I waited. Tonight I called to find out the status of these refunds so I could tell my bank when the funds would arrive. I was furious when I was told that my request for a refund had been denied AGAIN due to the fact that I had been over my limit at the time I unwittingly paid $450 instead of my usual $150. I have since asked the latest customer service rep to resubmit the request. It really is all I can do at this point.
God knows how I will pay even my minimum payment next month seeing as I will have to somehow absorb a total of $370 (including my bank's overdraft charges) that I had not intended on paying if this doesn't get resolved. For some, $370 is nothing but it sure is for me and my family just now. One thing is certain, though. If this does not get resolved, I will pay my card off as quickly as I can and then cut it up. They will not see another penny's worth of a charge on that card when I'm able to use it again. I simply refuse to be a passive long term customer of a bank that treats consumers this way. And you best believe I will warn others against ever trusting their finances to BoA.
I am totally fed up with Bank of America and how they completely rip people off and how customers are tired of getting money taken out of their accounts. Bank of America has the online and mobile banking. Now as a customer you would think that since they have two ways to check your account they both would be accurate with each other. Well, no. This is one of the way Bank of America justifies stealing our money. You see, I was in the positive until Bank of America did the little shuffle that they do and moved things around to say I was over this way. They could charge me 35.00 twice. Well of course, now I'm over yet they charged me for thing that are still processing which that's not legal dice.
They haven't been presented for payment yet but Bank of America tells me I need to look at online banking because it shows I was actually over yet mobile banking shows I'm in the positive until Bank of America took the 35.09 out twice totaling 70.00. So yeah, now I'm over. Now as a consumer I believe these two sites should show the same as either one but they don't. Once again, BofA rips us off, criminals.
I will try and keep this short and to the point. I want to start by stating that I am in the hospital, been here 2 weeks and will be here for another month. So yesterday I made the mistake of depositing my check via mobile app. Now before I did this I called and asked if and how much of my funds would be available. I was told all of it. Now I can't leave this room. I'm confined here, so I check my account and no money is made available. So in the fine print it says a deposit has been made but that part of it will be held. Ok whatever I could live with that. So I call to make sure and the two says that after midnight my money or part of it will be made available.
This is a payroll check for a movie theater franchise in Westwood CA, so they are extremely wealthy. So the next day comes and no money is available and even the fine print has changed to my money won't be available till 10 days from that day. Now I'm freaking out cause I have bills to pay. So I call and was told that because of some policy I have no choice but to wait after I was told 3 times my money will be there. The manager I spoke to said that the company I work for probably won't have the funds to cover the check. There was a number on the check to call and verify which clearly she was too lazy to make an attempt to call. So here I am in this hospital with bills that need to be paid and a live of carp bank that has a hold on my money. The manager wasn't even professional. Well I'm here at the hospital. I have to go. BOFA is a worthless bank.
I was a client of Bank of America from 1980 to 1989 then switched to Wells Fargo and banked with them until 2000, then returned to B of A, a big mistake — both banks! For several years I have had this online banking problem when they do not accept a password I created a week or less ago (their orders) then tell me to create a new password. They don't accept it and "do not (even) recognize" me. My wife and I live in Mexico. (She is from here and I am a US citizen, not Mexican heritage, rather Celtic-Anglo. Perhaps that might help?)
This inability to access my accounts has gotten to the point of writing letters to B of A, since talking to them over the phone is as useful as speaking with their recordings, it has not helped at all rather all to the contrary. The concept they do not seem to understand is that both my wife and I are "equal partners," i.e., one and the same, in our banking with B of A ergo our online site should be "equally accessible," but now it is not accessible to either of us. That is, why do they tell me to change my online ID then ask for my wife's online ID and password (the latter is the same!) then do not accept it — or mine or the number codes they offer, blocking us (punishment for Mexico or Mexicans?). So we must "call the bank" for the millionth time.
When I call the bank on the phone "using the appropriate telephone number" it turns out to be a very frustrating and angry experience. They trust you "as far as they can throw you." That is, B of A's extreme paranoia or kid games does not speak well of the management and administration. I identify myself yet they have no record of a debit card from them that I use daily nor my 17 year old account number. My wife's card and soc. sec. number works, however mine don't, when trying to speak to a real, live "human."
We solve the problem and for a couple or three days are able to access online banking, make transfers avoiding possible overdraft protection fees. They do not like that nor do they like transfers between accounts, especially savings accounts to checking accounts. B of A transmogrifies your savings account to another checking account. Perhaps transfers are inconvenient or beyond their ken?
I have been a Bank of America customer for 12 years. Recently, I refinanced my car loan through bank of America. I made several payments online; however they never went through even though I had confirmation numbers. When I called them on this, I filed a claim which will take 45 days. In the meantime my loan payment is in arrears thus negatively affecting my credit score. I refuse to pay another cent to this loan because it is their error. I guess the car will be repossessed thus hurting my credit further. Is there any recourse for consumers to use in these cases??? It appears the bank is always right???
Used transfer on mobile app to anther BofA customer. Money did not go to sender even though all info correct. Call bank and they put on hamster transfer wheel. Poor customer service and no person to follow through to resolution. Planning to close most account with bank soon. ** and con artist.
On Mon April 17 2017, Bank of America repossessed my car without notification of intent because their recurrent online payment failed to process my recurrent scheduled payment. On Jan 2017 Bank of America recurrent payment system failed to deduct payments from my debit account to my auto loan account. Despite of sufficient funds in my debit account, the payments were not being processed due to a system failure on their end. Bank of America failed to notify me their system was no longer working and payments were not being processed. After 3 months of failed recurrent payments, Bank of America repossessed my car without any letter of intent or notification. No letter or email was sent regarding failed payments and no letter was sent regarding intent to repo the car, I believe the bank is engaging in unlawful and highly unethical activities against consumers to collect higher fees.
Right after the car was repo, I immediately acted and paid off my remaining loan amount of $2,200, but resulted on additional penalties of $400 including fees to recover the car and late fees paid to Bank of America. In addition, my credit score will be negatively affected. I believe Bank of America failed to notify me that their automatic recurrent payment system was not working resulted on additional fees, which financially benefited the bank and resulted on my car to be unnecessarily been repossessed.
I do online banking with B of A and have been a customer since 1974. I'm retired here in Vietnam and all my retirement checks are electronically deposited into my account each month. Once a month I use my debit card to do a check card purchase at the State bank here and withdraw the funds. B of A charges me 3% as does the State Bank total of 6%. However the processing time can take up to 6 or 7 days for the transaction to clear. Normally after the 4th day the transaction drops off my online account and the funds are returned and posted as available. Then a few days later it shows back up again as cleared.
I contacted Customer Service about this and they said to just remember what my actual balance is and don't spend over it. I asked them what would happen if during the few days that the funds were shown as available that the IRS would issue a bank levy on the account, would those funds be affected or would B of A subtract the amount and honor the transaction and pay it. They said regardless of the transaction if the IRS serves a levy all available funds are frozen and the transaction would be returned as NSF to the State Bank here. I asked them why, even though the transaction was first posted 5 days before the levy was issued? They just stated that it would be because of the availability of funds. Hasn't happened yet, but is this true?
Just got off the phone after being transferred 3X's trying to change the email address for my account, trying to switch the primary and secondary addresses I had listed not a new one. The website will not allow you to do this and it's a jungle getting to the correct party to do it, if there is one that does it? I'm very disappointed in the security of this bank, and will likely need to change the home mortgage to Chase, which gives a lot better service than B of A. Sorry Bank of America, I've been with you for many, many years now, and don't really want to go thru this hassle.
Our bank account was hacked - although the fraud department was very fast at refunding the money. My mortgage payment was rejected - they charged me a NSF fee. So I went a scheduled another payment to the mortgage payment - Bank of America processed the original a second time several days later - over drawing my account. They will not refund the money - and refuse let me dispute the charge through them. They won't even file a claim or open a dispute for duplicate transaction of any kind. Leaving my account at zero dollars... They won't even let me speak with a supervisor. I've spoken with 6 people in 4 departments for the last 2 hours. Feels like I'm hitting my head against a brick wall. Shameful that they won't help me. Why would I trust them with my money ever again? Every representative has a different suggestion and story - none of whom will actually offer to help. I hope someone reads this and decides to help.
Why can't Bank of America get up-to-date like every other credit card company, in terms of making an online bill payment? They make their customers go through the arduous process of obtaining letters from your bank and mailing them to BOA in order to "set-up" your bank info in their system. TWICE I obtained letters from my bank and mailed them to BOA. TWICE I received my information back in the mail stating that my bank letter was insufficient verification and needed additional letter(s) from my bank??? What is it with the extra measures? I never needed to do this for another credit card company. Oh wait, yes maybe I did like 2 decades ago! BOA please get your system updated to suit the modern times.
I have to call in every month in order to make my payment. I feel like BOA doesn't want me to pay on time so I can be penalized. I really can't come up with any conclusions! Why do they make it so hard for their customer to make PAYMENTS? I had to once again call in this morning, had to enter in my credit card information, got through to a rep who asked me my account number, 3 numbers on the back of the card and my mother's maiden name??? All for what? To make a payment? I don't know anyone who would go through all the trouble to make a fraudulent payment on my behalf. After all this verification of my account I was then transferred to the automated service where I had to once again enter in ALL my account information. PLEASE, PLEASE, PLEASE BOA get it together and make it easier for your customers to make a payment.
On 11/5/2016, I paid my credit card online $47.07. My checking account (TD bank) was debited $4,707 on 11/7, caused a $35 over-draft fee. This was not my mistake since I never entered the actual amount ($47.07). I simply clicked "Last Statement Balance" & paid in full. They issued $4,707 credit on 11/8, but charged again on 11/10, causing another over-draft.
Apparently this was a software glitch & affected many. Called many times, most of the times can't get through due to overload. Finally got through after 2 hour waiting for call back. The customer service person had no idea what I was talking about or the situation. Demanded 3 times to talk to his supervisor. After another 30 minute wait, the supervisor was not much better. She first tried to deny responsibility by offering some ridiculous excuses which I know to be false. Finally, she no longer denied it was B of A's fault, but refused to help. As a result, I was charged 2 over-draft fees, maintenance fee due to balance fell below minimum requirement, and not to mention interests being charged while account was in over-draft status.
Their product, web UI and app are simply the worst among all finance service I have ever used. I have very bad experience interacting with their customer support on phone as well. Very long wait and no conclusive result after the conversation. It was painful to set up recurring payment. The UI design is confusing and error prone. There was another incident that made me decide to leave them forever. (I am not going to close my account with them but I will not use their card and service, nor keep any of my assets with them).
I was on a two months long trip last summer around Asia. For some reason, the auto-payment failed and I carried 20 something dollar in my balance when I started the trip unaware. A month later during my trip, the email of the late payment ended up in my spam and I never found the email about the failure of auto payment. When I got another email of being late on payment for over 30 days, it was too late. I paid it off right away on the 31st day and called them and credit bureau and tried to fix it. They refused to admit the mistake and the late payment record stayed in my credit history. I had a perfect record until then and even today, this is arguably affecting my credit progress and this might impact my mortgage rate as well. In all, there are way more better financial service out there. Avoid BOA at all.
Sent an online check to another bank, but it was sent to the wrong person/entity. That entity cashed the check. They called BofA and informed them of the mistake, I received an online message to call the wrong/entity. They were willing to write us a check. But then their bank said go thru normal process (whatever that is)? So we are out the money, and the loan is not getting paid. I called the bank where the loan is, which coincidentally is the other entity's bank. The bank said it was all OK.
Then, BofA calls me to respond to my online messages, that the money is not being returned to me. BofA had sent me the message to call the other entity. Several other messages from online banking that they were still researching the problem and it could take up to 90 days to resolve. Now, after 28 days we have not received our money. About 1 week ago, BofA (actually their online check issuer) contacted me to fill out an affidavit, but I had to mail it them before they could do anything. This is already over 2 weeks after the incident occurred and when the other entity had contacted BofA. So, 1 week later they still don't have the affidavit.
Meanwhile, about a week ago, our client manager gets involved because the online banking people called him. So he says it's a fraud and should be treated as such. Then he gets back later and says that the affidavit is the correct manner to resolve this. He also suggested a temporary credit in my account by last Friday, 3 days after we spoke. But today, I email him, only to find out that he was waiting for me to send a scan copy of the affidavit, that's 6 days later. It's really hard to solve anything if they don't care to fix it. This is consuming way too much of my time. Today, 28 days later, still no resolution, still no money returned to our account. The loan comes due again in 3 days. Don't know what to do, other than go to court, small claims court. I am a business and personal customer for over 30 years.
I've been with BofA for nearly 10 years. My experience with them was mostly good for the first couple of years. After that, it was all downhill. My credit report is spotless and my FICO reflects that. But BofA has consistently raised my credit card APR regardless of my ability to handle my debt. (Of course that means I'm going to transfer the balance somewhere else.) But, in addition to the rate hikes, they find ways to charge me fees on my accounts.
I'm a software engineer. I happen to know that a "maintenance fee" in the year 2016 is a complete load of garbage. There's absolutely NO maintenance involved in maintaining my account. Nobody goes into the database with a dustpan and broom. Why would a completely electronic system need "maintenance" and why would that cost $12/mo? Before I made enough money to survive, BofA worked their magic to adjust my transactions to increase the chances of an overdraft. And they were relentless with the overdraft fees. Today, I make decent money, so overdrafting isn't really an issue. But I also noticed they've increased the fee frequency.
My rewards credit card has never had any late payments in the 2 years I've had it because I used BofA's transfer scheduling. Recently my online banking showed me that my payment on my card was due (and late). I checked and BofA had definitely pulled the money from my checking and put it in the card. Apparently, without notice, they changed how their system works and I had to go in and change how I make my payments. Had I not noticed this, I would have had my first negative mark on my credit report in over 7 years and I would have been hit with a late fee. It's clear they're always working to find ways to hit you with fees and ruin your credit.
Also, their rewards points are a joke. If I buy $1,000,000 worth of merchandise, I might be able to buy a pack of gum with the points from it. (Obviously an exaggeration, but you get the point.) Rewards cards from credit unions are usually twice a good in rewards than BofA's best cards... I assume that if you're filthy rich, they probably have good rewards cards for you - likely because they don't reward the bottom 99%...
BofA is an awful bank. They're not there for their customers. They're there for their customer's money. And when the customer is out of money, they put the customer in debt to the bank. Not making enough to survive (the majority of the nation) could put you in the position for BofA to destroy your life financially. And that's why they get rid of you because there are no more pennies to squeeze out of you. I've begun moving my money over to credit unions and Simple bank. Best decision I could make. Do yourself a favor. Stay far from Bank of America. They're just another commercial bank that preys on the bottom 90% of America.
I used Bank of America's Bill Pay Center. (2) of my payers began processing 5 days before the date I specified. And payment was not sent to creditor until 3 days 2 days after specified. I signed up to have Bank of America NOT pay if the funds were not in my account. After speaking with them, they THEN informed me that rule is ONLY for day to day usage on my debit card. And any authorized payments through the payment center or the re-payment center. Any payments returned will be charged a $35.00 fee. If I decide to have them pay it anyway, I get charged a $35.00 fee. There is nowhere on the site that explains this disclaimer. There was nowhere on paper or mailed correspondence that explained all payments made from the payment center was processed through the bank by generating a check and mailing that off to a merchant. This also caused lateness on my payment.
Starting in March of 2016 I've been charged $350.00 in returned fees. I was not aware of the damage until I began noticing a pattern that was not of my own cause. Bank of America is notorious for clearing all small payments from your account FIRST, and if they see there is not enough to cover the higher amounts, THAT's when they put that payment through and allow the payment to be returned. I've made large payments through Bank of America and those payments are held up. When I make small payments afterwards, all the small payments are processed immediately. BANK OF AMERICA CONTINUES TO RIP OFF THE CONSUMER BY UNNECESSARY RETURNED FEES.
I walked into the Mount Arlington, NJ site and spoke to the representative at the desk. She informed me taking action to NOT make any payments and discontinuing my protection plan would deny all payments if the funds were not there. I agreed to this plan because this is what I requested. Since, Bank of America has experienced 2 breaches in security and sent me a new debit card, and after the card was sent in March of 2016, THAT is when I began to accumulate $35.00 fees. In other words, they discontinued my request and began allowing payment after payment to go through, giving them a opportunity to charge me the RETURNED $35.00 fees. THIS is a travesty and should be investigated immediately. I read an article of one branch manager bragging about the extra $1000-$2000, collected from one consumer per year due to this course of action. Sincerely FRUSTRATED!!!
I called bank of my CD was about to mature in a few days and they would not provide me with a manual check because they are a virtual bank. I have other accts with Ally and other internet banks and they are able to provide manual checks and do not understand why they cannot provide the service. Anyhow, I called to request a check and advise I was not going to renew CD - gave me a hard time to get my money and was forced to give them an acct number to do the transfer which is not what I wanted... since they had trouble doing the wire transfer they renewed my CD.
When I called to follow up on why I had not received I was told they renewed and then proceeded to tell me if I wanted my CD release I would have to pay the penalty which was MUCH MORE than what they give you in interest. They are thieves and not sure why Consumer Affairs or whoever regulates banks are not doing anything to these thieves because this is what they are. Do not bank with these people.
The absolute worst experience ever! I have waited for 7 days now for BOA to clear a wire that was sent by the sending bank on day 1 (Friday). A federal wire confirmation number was issued on day 1 (Friday). BOA received the funds on day 1 (Friday). BOA chose to hold on to these funds all of Friday and all of Monday without clearing it in my account. Then on Tuesday, they decided to request information from the sending bank. The sending bank sent the information within 2 hours. Now, 7 days later at 5pm on Thursday, BOA still has not cleared the funds. The BOA wire desk says "there is NO TIME LIMIT on the review, and it can take 10 years" for all they care. They can hold on to consumers' funds without any accountability.
This is the epitome of zero accountability. I'm astounded at how the government doesn't realize that this for-profit financial institution is holding on to consumers' money without any accountability and without any transparency as to why they are holding on to funds. Icing on this is that I was the sender from the other bank as well, and just needed the funds quickly in the BOA account for a transaction. I wish there were good alternatives in the banking world. Until one comes up, thieves like BOA will continue to "hold" consumers' funds.
Bank of America Online Banking Company Information
- Company Name:
- Bank of America
- Company Type:
- Ticker Symbol:
- Year Founded:
- 100 North Tryon St
- Postal Code:
- United States
- (800) 432-1000