Bank Of America - Too big to fail bank
BOA had started to charge my savings account with a fee of $12 per month. Since its a savings account I have realized about it after 3 months of account fee's. When I called customers service they are very arrogant to gave me every possible excuse and most of it are false. I have never seen a bank who can just randomly start changing the account fees. When I tried to talk to CS supervisor he refers to the contract that we sign at the start saying that they can change the account fees at any point and dont need to inform the customer.
Its very sad that Consumer is not protected in anyway at these big banks. Banks should be forced to request the consent by the consumer before deducting any change from the account, or any changes are to be made to the contractual terms.
If we buy a car or insurance or rent a apt we sign the paper work for any changes to the contract not sure why banks cant get the consumer sign the change in contract terms. If the customer agrees he will keep the account if not he will close it.
Bank of America is a Rip Off. I'm all set to close my account and move to a smaller Credit Union.