Time to switch banks! I'm currently working on laying out a plan that has ALL of the information and necessary links for BofA customers who want to change banks but think it's too difficult and possibly dangerous (considering the bank's practices that we know all too well). Since Bank of America thrives on hitting you when you're down, it's critical that all outstanding checks, debits, automatic payments, etc. Be handled before the move.
I called ONCE (last week) for the first time in over 15 years with them — starting with what used to be Security Pacific when I was 16 — to request a reversal of TWO out of FOUR overdraft charges, and have since realized that calling them triggers the "bad customer" flag (yes... I know it's my fault for not having the money and I didn't really even think they'd reverse the charges, but they treated me so badly that I quickly realized they had the same little script for everyone and that it didn't matter if I was a crackwhore or Mother Teresa).
Two days later, and for the first time ever since I have banked with them (since 1987 to be more precise), they decided to hold my deposit (the check was from the same payer as my last two deposits) for a week! Then, after allowing six transactions totaling about $800 to post, I emailed them asking when I would have access to my money because my card didn't work.
Big mistake! This obviously triggered another "screw you" tactic of returning a $260 check that showed as pending just hours before I sent the note. All of the sudden, it shows as returned on 9/16, and it was 9/17 before it showed as returned... Literally minutes before they released the hold and gave me access to my money on 9/17. So I now have $1,700 in my account with a returned check for $260 that I'm sure they will charge me for and knowing full well that SRP (my utilities company) will charge me $20 for the return and require a certified or cash payment to cover the check.
I'm done with them, but NONE OF THIS MATTERS IF NOBODY DOES ANYTHING BUT COMPLAIN. I'm happy to report that my husband's accounts, which I suggested he open at BofA and which I manage, are not linked to me because we have different last names and accounts. My measly $3,000 per month and $5,000 credit card won't be missed, but our $30,000 Home Equity Line of Credit, $25,000 Car Loan, $15,000 credit card, and the checking account will hopefully at least be recognized as an avoidable loss, especially when I make it SIMPLE and almost PROFITABLE for large numbers of people to move to banks that care more about keeping the mid-range customers (and their moderate amounts of money) than gouging them while giving every accommodation to those they think deserve it.
Never in my life have I actually voiced my dissatisfaction, or posted anything to a forum, but after being a loyal, paying, non-complaining, low risk customer for 17 years and then being treated like a low-life by an hourly phone rep, I am now determined to make sure BofA doesn't get rewarded for thinking that they can treat people like dirt, regardless of their history with them. I can only do this by making sure that no one I know now or come to know in the future ever opens an account, gets a credit card or obtains a loan through BofA and that everyone I know who currently banks with them changes banks.
Oh... By the way, I WAS a college student for 8 years and have two degrees including my MBA (Master of Business Administration), so the ubiquitous "stupid college student" responses I keep seeing don't apply here. Look for my site in the next couple of months so we can easily and seamlessly do what all of the Pro-BofA people keep suggesting we do... Take our money to another bank (or credit union, as I am finding in my compilation of best banks).
No matter what, try to open a new checking account and keep only the minimum amount needed in BofA until you can move everything over. It's not as hard as you would think, but hopefully you'll have all the information you need right at your fingertips in the near future. Remember:
"Never underestimate the power of a few committed people to change the world.indeed, it is the only thing that ever has." Margaret Mead
Dawn
Phoenix, Arizona
U.S.A.
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