Bank of America is an unethical institution. After moving to Texas and shopping around for a new bank I chose Bank of America.
Bad choice. I even read a report on ripoff but thought it might be an isolated incident or maybe it was the patrons fault. Boy was I wrong. I deposited money on 12/15 only for the money to be held until 12/16. Guess what happened? Five transactions went through. I was charged 175 dollars in fees, this was my christmas gift money.
I was with my previous bank for 12 years and never had this happen. I've never paid this much in 12 years combined, I maybe had 4 overdraft fees in 12 years.in less than a year this has happened twice. The first time I accepted responsibility thought maybe I could had done something differently and choked down the $70 worth of fees. However, this last time was just down right unethical.
I am a teacher, my daily balance is not going to be high, I pay all my bills on time and am a loyal patron. It seems to me that Bank of America caters only to the wealthier patrons. Middle class is left high and dry. I talked to everyone I could about getting some of the fees refunded but to no avail. My satisfaction will be that someone reads this and doesn't use Bank of America services. If you like$35.00 tacos, use Bank of America and learn the hardway.
One more thing, Bank of America tells you they have overdraft protection. The catch, use your savings or open a credit card with them. I no longer have any credit cards and savings as a single parent and teacher ha!
Bottom line: Bank of America is number one because it takes advantage of the poor and middle class. We can only hope that kharma kicks their butt.
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