- Report: #1123153
Report - Rebuttal - Arbitrate
Complaint Review: Bank of America
Bank of America2597 Mill St. Reno, Nevada USA
Bank of America Money Market, Savings, etc. DO NOT OPEN THESE ACCOUNTS. Reno Nevada
*General Comment: A few things for consideration...
A business' first
line of defense
on the Internet.
If your business is
willing to make a
Click here now..
Do not under any circumstances open BofA's savings or money market accounts. They will target you for this if you deposit large sums. In our case, we deposited a large inheritance and they convinced us these accounts were a "good investment". The problem is this. Average working citizens have busy lives, and when you bifurcate your funds between accounts like this it makes it statically four times as likely to overdraft. This would be okay, if the interest earned on the accounts offset the risk of overdraft. But the banks know that everyone overdrafts, its simply the case that some people overdraft a lot and others, who are more responsible, might only overdraft once a year or two. As I mentioned, the interest earned on the accounts does not offset the risk. In fact, the interest is microscopic. Its something like a tenth of a percent per month on savings, and an eighth of a percent per month on their "money market" account. The fact of the matter is, if you have jobs, a busy life, you don't need the head ache. If you really want to invest, put it somewhere you'll actually make some real interest. Go local. Go credit union. Don't go with BofA because they'll drop a few pennies in your account and wrench $35 out of the other.
This report was posted on Ripoff Report on 02/12/2014 03:25 PM and is a permanent record located here: http://www.ripoffreport.com/r/Bank-of-America/Reno-Nevada-89506/Bank-of-America-Money-Market-Savings-etc-DO-NOT-OPEN-THESE-ACCOUNTS-Reno-Nevada-1123153. 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.
Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.
If you would like to see more Rip-off Reports on this company/individual, search here:Search Tips
In order to assure the best results in your search:
- Keep the name short & simple, and try different variations of the name.
- Do not include ".com", "S", "Inc.", "Corp", or "LLC" at the end of the Company name.
- Use only the first/main part of a name to get best results.
- Only search one name at a time if Company has many AKA's.