ED Magedson – Founder
Bank Of AmericaS-tryon st. Charlotte, North Carolina USA
Bank Of America BOA BOA guilty of Double dipping! Charlotte North Carolina
Bank of America is making money hand over fist!
I receive 2 alimony wires a month from my Ex (a SR. VP at BOA) BOA USa to my Canadian US dollar account with a different bank. When you send wires with BOA you are charged 35$ for this serivce. Seems simple enough this is the "fee". Only what BOA have been doing is what I would call theft!
July 1 2103 I get my first Us wire. NO issues my set amount - 35$ for the cost of the wire.
Since July 15th and 2 monthly now I have been receiveing vastly different amounts. For 9 months now and working with my Local Canadian bank that receives the funds. has discovered where the almost 300$ a month has gone.
BOA USA who have been directed to wire to the Canadian bank in US$ have been Using Bank of America/Merrill Lynch Canada to filter and steal funds. By first converting the US dollars to Canadian dollars at the sell rate, and then re conveting atthe buy rate to US dollars and then deposit the new significantly less amount into my US account in Canada. They add an additional 17$ "commission" to each transaction to do this.
I have not been given any previous information on additional cost, commissions, or even requsted the double conversions? All of this each month to the tune of 300$ a month give or take based on exchange rates.
Why is the bank able to make the first wire with no issue and all 19 subsiquent wires in a costly and different manner?
I have filed complaints with both OCC and the OBSI in Canada. It is in the process with the Ombusdsman/legal now.
BOA are getting fat and skirting the legal line on this one. I would like a refund of all my costs and fees, as well as a suitable explination for why they can do one transction without any of this double dipping and then all since have been. I am frustrted as for almost 10 months it has taken this is still happening 2 times a month to me.
BOA certainly has some explinaing on this one.
This report was posted on Ripoff Report on 04/23/2014 04:14 PM and is a permanent record located here: http://www.ripoffreport.com/r/Bank-Of-America/Charlotte-North-Carolina/Bank-Of-America-BOA-BOA-guilty-of-Double-dipping-Charlotte-North-Carolina-1141175. 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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