ED Magedson – Founder
BANK OF AMERICACR 210 St. Augustine, Florida United States of America
I took my 14 year old son into the Bamk of America on CR 210 St. Augustine in December 2009 to open a savings account and get him started down the right path. Little did I know that this bank would charge him a $5.00 per month service fee for his account. It ended up being $10.00 total from December until February 6, 2010.
I knew there would be very little interest paid but I never thought they would rip off a minor what amounts to 5% per month just for "saving" money in their bank. They knew exactly what they were doing and I think it is pathetic when these greedy bandits feel it is necessary to basically steal from a young man.
When I closed the account this morning they gave me all $100.00 and I promptly gave them back the $10.00 they originally charged with the hope that they use it to keep their lights on.
My son now has $90.00 of the original $100.00 but a valuable lesson has been learned for the $ 10.00 spent.
This report was posted on Ripoff Report on 02/06/2010 08:12 AM and is a permanent record located here: http://www.ripoffreport.com/r/BANK-OF-AMERICA/St-Augustine-Florida-32092/BANK-OF-AMERICA-Savings-Account-Rip-Off-St-Augustine-Florida-565370. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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