Report: #477127

Complaint Review: Bank Of America

  • Submitted: Thu, August 06, 2009
  • Updated: Mon, September 27, 2010
  • Reported By: Augusta Maine
  • Bank Of America
    21 Armory St
    Augusta, Maine
  • Phone:
  • Web:
  • Category: Banks

Bank Of America, MBNA, Fleet Bank Shame on you Bank of America Augusta Maine

*Consumer Suggestion: Bank of America reply

Show customers why they should trust your business over your competitors...

I opened my very first savings bank account at Fleet Bank when I was seven. The Fleet was purchased by Bank of America while I was entering my freshman year of college. My father and I went to the bank together to set up a student checking account which did not have a minimum balance requirement. I had this account throughout my college experiance. I signed up for their paperless billing which is where you monitor your accounts online only. Over a period of seven months I was going through a period where I was not able to monitor my account with a computer but I used the ATM to check my balances and made sure my account was never overdrawn. When I was able to check my account again I saw every month there were several fees charged to my account. These fees totaled several hundred dollars. As a student this amount of money was a big problem. I immediatly raced over to the Bank to find out what the problem was. I was informed that my account had a minimum balence requirement of 2,000 and the fees were as a result of that requirement not being met. I had the original information from the account and there was not such requirement. When I asked why I the charges were just being made even though I had had the account for three years I was informed that I was "lucky not to be retroactivly charged!" Somehow I was told I must have beat the system and they had just caught on to it. They waved a few of the fees but I was informed that no one in the whole company had the power to wave them all! That was the first incident there have been three similar event following that. I recently opened an account with a local credit union and I can't tell you how happy I am to not have to worry that I am being stolen from by a Bank that has such huge profits it should be embarrased to steal from a financial conciencious student working her way through school. What I find most astounding is that as a student I was making an investment in my longterm earning potential. Bank of America should recognize that treating students well would be a longterm investment in the future of their own business. I am glad to be partnering with a financial institution which earns profit through investment not fees.

Augusta, Maine
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This report was posted on Ripoff Report on 08/06/2009 02:17 PM and is a permanent record located here: 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. READ: Foreign websites steal our content

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#1 Consumer Suggestion

Bank of America reply

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

I wrote a rip off report several months ago about BOA, and their shady practices.  I was ripped off to the tune of several hundred dollars, as well.
What I did was write to the Comptroller of the Currency, United States (you should be able to find their email address online).  They investigated, found that BOA did, in fact, rip me off, and BOA refunded all my money  (although they claimed they weren't WRONG, we all know they ARE/WERE!!!)
Don't let them get away with it!  They will ruin your credit, and they don't CARE.  If enough consumers take ACTION, then they won't get away with it!  Make as much noise as possible!  Good luck!

Kathy, in Portland, Maine
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