• Report: #147468

Complaint Review: Bank Of America

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  • Submitted: Sat, June 25, 2005
  • Updated: Tue, June 28, 2005

  • Reported By:flower mound Texas
Bank Of America
bankofamerica.com Flower Mound, Texas U.S.A.
  • Phone:
  • Web:
  • Category: Banks

Bank Of America ripoff, online, inconsistent service, bad information, bad customer service Flower Mound Texas

*Consumer Comment: Is online banking even safe??

*Consumer Suggestion: I think you can see now that electronic banking simply does not work. So, why do you still insist on using it?

*Author of original report: the history behind all my disgust with BOA

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Since June 21st I have been contacting Bank of America due to numerous problems with posting of transactions over the last few months.

I advised them I wanted to close my checking account with them. The agent who answered advised that the balance was 375 (and change)

And that there was still a pending transaction of 17USD, so he recommended that I did not close the account because if I did, once they received
The transaction the account would again open. I advised him to leave as is and asked how I could get my money since I am out of the state.

He advised to go to an ATM and take the money out and that the remaining change they would then transfer to my credit card account. I asked what amount I should take out and to make sure there were no other transactions pending. He advised to take 340USD out And that I would be left with about 6USD and they would then transfer to the credit card. I did this immediatelyThe next day
I check my account and it shows NSF fees for the 340USD the agent told me I had. I called them again and they advised that I did not have That money to take out. There were 3-4 transactions that were PENDING (but not posted as pending on their website) that they had Actually posted to the account the day before, but did not show as posted or did not deduct from the 375, so again, I was charged the NSF fees. I decided to leave the account as it was, as my direct deposit check would be arriving on Friday. On Friday my check was POSTED And I made a transaction to the Bank of America credit card and another to Shurgard. After a few hours, I check the account and now ALL transactions, including my check show as pending. I called Bank of America again and spoke with an agent which advised he did Not know why my check was shown as pending. He transferred me to a supervisor who advised me that it would show as pending Until Midnight and to check back later. Later in the evening I checked my online account again and my checking account was not even displayed.

Also, my Credit Card account which was displayed, did not show I had made a payment, even though it had already been deducted from my account. The agent I spoke with said that the account was closed and that's why I did not show it. I told him that NOBODY authorized them to close
The account and he advised that it was closing. I asked to speak to a supervisor and spoke with Valerie Jennings in Florida.

Valerie ASSURED me that the account was not closing. I told her that I wanted the name of the agent that had transferred me, as this Was the type of problem I had been having for days now. Everytime I callled, the agents gave me different information. I explained To her the issue with the NSF fees when I first tried to close the account. She advised that she would reimburse me those fees, As it was obvious that someone had given me that information, etc. Again I asked her why I could not see my account and she advised That it was probably something technical and she would have someone contact me within 24hours. I asked her how could I possibly Believe her over the other agent and she advised that she did not know why the agent had told me that, but that the account was not closing. That the funds were available and once the techinical support people contacted or I rebooted my computer, I should be able to see the balance.
This morning I woke up and was going to use my ATM card again. So I checked the online banking and my account was still not displayed.

Because I was afraid that it would be declined at the ATM machine and/or BOA would again try to charge me NSF fees, I contacted them again. This time I spoke with Mariam (in Florida) who advised me the account was in the process of closing. I told her that I spoke with Valerie The night before and she assured me it was not. I asked for her full name and asked to speak again to a supervisor. She would not Provide me her name, but advised that this was all happening because I had been abusive to them. I'm not sure how they expect A customer to remain calm when for four days everytime I call, I get a different answerand of course, they are playing with MY money.

Finally, she transferred me to another supervisor and did not give me her name. The new supervisor was Lori McWilliams in Florida.

I told Lori the problems I had been having and she advised the account was in the process of closing. I told her to please contact Valerie Jennings, also supervisor in Florida, as she had assured me the night before the account was NOT closing. She advised she Would not do that and that because I had been so abusive they made a decision to close the account. I told her that Valerie
Had NOT told me that was going to happen, that instead she assured me that I had been given incorrect information. By the way, I have lived out of the state since October 2004 and have given my new address twice to BOA. They agent I spoke with before Valerie Told me they only had my old addressI told him I had already had this problem with the credit card and checking acocunt before
And had given them my new address and that I was receiving all my mail from them for both accounts at my new address.

So, anyway, I asked Lori to PLEASE get Valerie for me and she advised she would not get her or talk to her, that I just needed to Wait until the account closed. I asked her how was I supposed to get my money and she advised they would send it to me.

Obviously did not tell me how long they plan to keep my money, but just said that there was nothing she could do, nothing she would Do and that was just the way it was.

I am so amazed that this kind of behavior and customer service is tolerated from Bank of America. I have seen numerous complaints Against them on the internet because of these same type of situations. I want my money IMMEDIATELY, not when they feel like sending it to me.
I had not had problems until I told them I planned to close the account. Once I told them that, then all the problems started happening.

I need this issue resolved immediately and will do anything that needs to be done to ensure this does not happen to anyone.

Nancy
flower mound, Texas
U.S.A.

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This report was posted on Ripoff Report on 06/25/2005 07:56 AM and is a permanent record located here: http://www.ripoffreport.com/r/Bank-Of-America/Flower-Mound-Texas-75028/Bank-Of-America-ripoff-online-inconsistent-service-bad-information-bad-customer-servic-147468. 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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Updates & Rebuttals

#1 Consumer Comment

Is online banking even safe??

AUTHOR: Thomas - (U.S.A.)

Bank of America has many write-ups as to its growth and multi billion dollar profits but the bank does not seem to think its responsible for customers losses as they test and profit in new high tech banking. Something has got to bust and that is beginning to happen.

The Banks policy of saying your safe using there online accounts but have no backing when a problem does happen is bad business people need to know about.

Your online banking problems are a blessing compared to this guys nightmire. You need to get out before your a victim like this florida business man.

A brown bag full of cash is starting to sound safer the BoA lies.

Lawsuit raises online fraud issue for banks
Published: 07 March, 2005
Page 12

A lawsuit filed earlier this month against Bank of America raises the issue of who is responsible for online fraud. A Miami businessman, suing to recover $90,000 allegedly stolen from his account and placed in Latvian-based Parex Bank, has brought the case.

According to the plaintiff, Joe Lopez, $90,000 was transferred to a Parex account from his own and $20,000 was withdrawn prior to the bank freezing the account.

The Secret Service, apparently called in by Bank of America to investigate the complaint, found that the man's PC had been infected by a key-logging virus that registers key-taps via a back door in the computer, although it did not specify this as the route any fraud would have taken.

Bank of America believes that, as its own systems were not the subject of hacking, it is not responsible for the theft and that the transfer was completed with appropriate handling and security procedures.

Mr Lopez has accused the bank of negligence and breach of contract, alleging that it had not let him know of the virus threat prior to the transfer.

The lawyer representing Mr Lopez told the South Florida Sun-Sentinel' that, with others who have lost smaller amounts in a similar way, the case could give rise to a class action suit.
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#2 Consumer Suggestion

I think you can see now that electronic banking simply does not work. So, why do you still insist on using it?

AUTHOR: Paul - (U.S.A.)

I couldn't even finish reading all your comment. The myriad of transactions. One account tangled up with another.

Electronic bill paying. Online transfers.

What motivates people do this?

Typically, they respond I want to simplify my life.

Is this simple?

Let me show you how simple works.

I have one account. Savings.

No ATM cards. No checks or checking accounts.

No credit cards. No outstanding loans. No mortgages.

My monthly bills are gas, and food. No car payments. No house payments. No rent.

I use the savings account in case some loser hands me a check. I show the account number. The bank cashes the check.

I've had the same minimum balance for years now. I add nothing. I subtract nothing.

Every once in a while, they add 10 cents in interest.

The last time I went in the bank was four months ago. To cash my income tax check.

I don't even think about the stupid bank.

I pay cash for everything.

Cars. Homes. Lunch. Gas. Groceries.

A hundred grand fits in a brown lunch sack. You still have plenty of room for a sandwich and an apple.

So, I never need to worry about fico scores. I don't fill out credit application. I throw them in the trash, unopened.

Borrowing. Refinancing. Loan balances. Due dates. Minimum amount due.

How is any of that relevant to me?

Then, I come here and read your sorry story.

It really makes you wonder, when will people learn?

Your problems will end when your involvement with banks ends.

Pick the date that works best for you.
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#3 Author of original report

the history behind all my disgust with BOA

AUTHOR: Nancy - (U.S.A.)

Problems with Bank of America

1. In 1998 I moved to Arlington, TexasBank of America incorrectly charged my account which resulted in numerous NSF fees. I printed all material showing them where their mistake was and it took almost three weeks for them to correct it and I had to take numerous days off work early to get it resolved at the actual branch because they would not do anything over the phone.

2. Between 1999 and 2001 I moved to Irving, Texas. Throughout this time I gave Bank of America credit card my new postal address which was through paymybillsonline.com. I received my bills online continuosly and had them to automatically be paid. For a few months I monitored it, while the service was new and all bills were being received and paid. At one moment, Bank of America decided NOT to send my bills to this addres, which resulted in a late payment since all bills were being paid automatically. I did not realize they had not sent the bill and contacted Bank of America immediately to correct the problem. Even though they had been sending bills there, they claimed they did not have this postal address. For years I tried to get this late charge removed and they never worked with me to get this removed.

3. In 2002 my new mortgage was transferred to Chase and I had automatic payments sent to the mortgage on a bi-weekly basis. One day I checked my account to take out money from the ATM and it was 0-balance. Because I had just received my direct deposit paycheck in the account, I checked my balance. It turns out that Bank of America had sent TWO checks to Chase and had left me at a 0 balance. It took over 4 months to get the issue resolved, as even though I explained to Bank of America it was their fault, they continued to deny it and told me I just had to wait to get it resolved, to contact Chase. The problem was not with Chase. The problem was that even though Chase issues a check type transaction to deduct the monies from Bank of America, a few days later after the first transaction, Bank of America charged again as they transposed a couple of numbers of the check. For months I received letters with threats to foreclose on my house, for months Bank of America did nothing. I could NOT afford to have them wait so long, as I had a 1 yr old at the time to feed and was a single mom. After months went by, Bank of America finally admitted to wrongdoing, but by then it was too late, because it was NOT Chase's fault, the additional money had been applied towards the principal of my mortgage and Chase would not go back to remove it.

4. In 2004 I sold my house and received a Bank cashier's check. I advised Bank of America, that as all other banks, I needed the money immediately as that was the purpose of a cashier's check, again they placed a hold on a cashiers check and held the money for two days.

5. In 2004 before I moved out of state, I called Bank of America and changed my address to Puerto Rico. I had gone to the bank and they advised that it was no problem for me to live in PR and have my account there.

6. Between 2004 and June 2005, I changed my address with Bank of America on 3 occasions, as even though sometimes I received my bills from them for my credit card at my new address, on more than one occasion I did not and was then charged late payment fees because of it. Again, I tried to change my address with them. Everytime they advised it was changed.

7. In 2005 my parents deposited a cashier's check in my account, and as always, Bank of America continued to defend their right to place a hold on the check. That is the purpose of a cashier's check, to get the funds immediately.

8. In 2005 in decided to do their new online transfer to other bank institutions. I made the original transfer, which allowed only for two small amounts of 1-2 USD so that they could insure the bank information was correct. Both transfers went through and the bank stated that all was ready to make other transfers. Within a few weeks I made another transfer and had no problems. The second or third time I made a transfer, I called BOA because it had been 3 days and still had no money in my new account, but my BOA account had already been deducted by 300USD for 3 days. They advised they had sent the monies to the bank, however, the bank had not responded. That it would probably take a few days. I contacted my local bank and they advised they had nothing from BOA. So, again after a couple of days I contacted BOA. This time I had my house payment due on the 15th of the month and it was now the 13th or so. This time when I contacted BOA they advised the transaction would not go through because it was international and they could not do international transfers. This was outrageous as the first two-three transfers had gone through and I advised the agent I needed more than the 500USD the ATM would give me in PR to make my house payment, they advised there was nothing they could do and that I should be thankful that as a courtesy they had allowed the other transfers.

9. Now we start with NSF fees. For the past 9 years that I have had Bank of America, transactions for debit charges are input in my pending status immediately. The post within a day or so of that date. I started noticing that I was being charged NSF fees and couldn't figure out why, since the bank had actually shown online that monies were available. I started to check and BOA was holding transactions for a period of more than 10 daysthen they would go and deduct from highest to lowest in order to capitalize on NSF fees. They did this for a couple of weeks. They claimed that they had received ALL 10 or more transactions all on the same day, even though they were from different merchants (both US and PR) and all done on different days, alsow within a week or more time frame.

10. On June 21st I contacted BOA because I have finally had enough with their mess. I advised them that I needed to close my checking account. They agent advised that I had 375USD remaining but a pending transaction of 17USD. He advised to take out 340 from an ATM, because I asked him how I could take out my money before closing the account and because there was not a branch in PR, I should go to an ATM. Within a few minutes my husband took out the 340USD. The agent told me he would apply the remaining approx 6USD to my credit card once it closed. He also told me that because there was one transaction pending, I should wait until Friday to ensure it posted, otherwise, the account would just open up again.

11. On the 22nd I checked my online statement again and find that there are NSF fees caused by the 340USD withdrawl. Seems that there were 2-3 outstanding charges, that the agent did not tell me about and Bank of America actually posted on the 20th. These transactions NEVER showed pending by BOA and on the 21st, the agent nor online service had thembut then they went back and charged them on the 20th. I called very upset at yet another mess with NSF fees and was told there was nothing they could do.

12. On Friday I was to get paid and I have had direct deposit to BOA since 1996. I decided to leave the direct deposit and pay the BOA credit card on Friday and another bill and then go to the ATM to take out my remaining balances, so that I could later close the account. All was fine for a few hours, but later in the afternoon as I checked the account again, BOA showed my check as pending and as a transactionr received after my other payments. I called the bank yet again, this time I am told by an agent that it will remain as pending and that is just the way it is. I told him I needed the funds available so that I could withdraw, etc. and he advised that was not possible. I talked to a supervisor and she again was not helpful at all. Basically, as always before their attitude is, that's your problem not mine. I was very upset and hung up the phone.

13. Later in the day I check my account and it is not even shown online. When I call yet again, the first agent tells me to verify my addressI give it to him and he advised that they do not have this address on file, but one in Texas. Once again I have to change my address with them, even though even the last week I received statements at my new address. He then proceeds to tell me the account is closing. I asked him to transfer me to a supervisor because my account COULD NOT be closing and nobody had authorized them to close it. I spoke with a supervisor in Florida and she assured me the account was not closing and that the funds were available. I told her I needed to take this money out, but that until I could see it online I could not, as I was afraid with all their other messes that they would charge me NSF fees claiming there was no money available. She assured me that the account was not closing, advised me there must be problems with my browser and even told me she would reimburse the two NSF fees that resulted from the mess of the original 340USD when I tried to close the account. She advised someone would contact me from the online technical department within 24hours to help me with viewing the account online.

14. On Saturday I checked my account online again and still nothing. I called BOA to see what the hold up was, because I was on my way out and needed to take out the money, etc. The agent advised me that because I had been abusive to them they had closed my account. I told the agent nobody had authorized this and to please get Valerie Jennings on the phone, as she has PROMISED me the night before the account was NOT closing. She said no, so I asked again to speak to yet another supervisor. I told the supervisor the problem and she advised the account was closing and there was nothing I could do. I told her I needed my money immediately, as I have a 3yr old and bills to pay and I cannot wait two weeks or more to get my money from them. She said too bad, you have to wait. I told her to PLEASE contact Valerie because this is exactly why I was so made. Everytime I have called, I have been given different information by different people and she advised she would not contact Valerie and would also not transfer me, to just wait until they sent me my money. I asked when that would be and she said she did not know. I of course because furious as this has now been going on for at least 4-5 days and their agents tell me a different thing everytime I call.

15. So, here it is Sunday, I have only that checking accountbank of america decided to close my account, but only after receiving my check, not beforethey will not allow me to withdraw the money from my account through an ATM, do not know when the account will close or when they will send the money or when I will receive it and I have a 3 yr old to feed and hosue payment due 1JUL.
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