Down With Bank of America

I am yet another victim of the giant financial pox on our society that goes by the name of Bank of America. Even though I read thousands of horror stories about what consumers of all backgrounds and levels of wealth had experienced at Bank of America, I still signed up for a Checking and a Savings account. My parents do their banking at BoA and it was most convenient if I had my accounts at the same bank so money transfers would be free and painless. I was a Washington Mutual customer for almost 5 years and never had a problem. In fact I can count all of the times I called their customer service number or the local branch on my fingers in that time. I am used to basic checking and savings accounts with no fees, preferably no maintenance fees, and a reasonable fee schedule. I love my family but I will never choose a bank to make someone else happy again.

I am still astounded that a bank would charge someone a fee if they did not have a recurring direct deposit. It’s a free checking account that is non-interest bearing with no minimum balance and I pay for checks. Give me a break! I never had to pay a fee like that at any other bank and I’ve had accounts at almost 10 banks in my short life thus far. When I look through all of the available accounts, BoA is screwing their customers on each one of them one way or another.

Bank of America has also changed their fee schedule as of the beginning of the new year. My parents found this out the hard way and are also planning on moving all of their accounts away from BoA. The amount of transactions on almost every account type have been reduce and fees for a lot of things have gone up. Not to mention that the ATMs my parents and I use (mind you we’re in different states) are chronically out of order and the bank staff doesn’t even blink at angry customers waiting to use the ATM. I hope that people wise up and start a nice mass exodus from BoA and go back to local banks who care about them. I for one am tired of feeling expendable when I pay money to use a service so I’ve taken my business elsewhere.

Tags: Awareness, Bank of America, banking, consumerism, fees, finance

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January 13, 2007 | Filed Under Awareness | Leave a Comment 

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