Fuck Bank of America

[Tale]

On a lighter note: I read the title as The American Fuck Bank.

Tale's bailout joke goes here.

[ShenMolo]

Similar thing happened to me last summer with BoA.

I had done business with BoA going back 15 years, both personal and business accounts. I had 11 accounts total with BoA:

3 Personal Checking Accounts
2 Personal Savings Accounts
3 Personal Credit Cards
2 Business Credit Cards
1 Home Equity Line of Credit

I had $0 balance on two of the personal credit cards and less than $2000 on one of them. My credit score has been over 750 for years.

With no warning, BoA canceled the three personal credit cards. Just closed them down. I was on a business trip to Nashville when the BoA card I use for reimbursable expenses started getting declined for gas/food/lodging. After the second time of using a debit card to pay for stuff, I called BoA to find out the news. No warning, just credit cards closed.  I called USAA and opened a $10,000 credit card that afternoon.

Now I had been thinking about firing BoA for years because of shitty customer service. But with 11 accounts it was going to be some work. After this I started the process of switching over to a new bank. It took a couple of months, but now everything is closed except the Line of Credit.

BoA is shit and I preach it whenever I get a chance.

I switched to USAA. They are the polar opposite of BoA. If you or your parents were ever in the military you can use USAA. They exist to serve their members, much like a credit union. I deposit money by scanning checks on my printer. They reimburse ATM fees. They have live people answer the phone. They pay you back a portion of their profits from insurance premiums every year. I am very happy with them and have begun consolidating savings, checking, insurance and brokerage accounts at USAA.

Fuck Bank of America.

[ezrast]

I read the title as The American Fuck Bank.

Fuck Bank of America.

Gah, now I can't stop doing it!

[Samwise]

I've been thinking about getting my first credit card with USAA since I figure they're far less likely to fuck me than a normal credit card company.  I take it you'd recommend that, Shen?

[Selby]

I take it you'd recommend that, Shen?

I would.  I do almost all of my banking through them now.  Fuck BoA and everyone else pretty much.  Once you've used USAA, you'll wonder why you never did before.  That's on all of their services, insurance, banking, etc.  Whenever I needed their insurance to not dick me over on a claim, the other driver's company rolled over and played dead for them and gave it all up.  No fighting, no court battles and lawyers to get the companies to do what they should.

[Krakrok]

I have two $30k BoA business credit cards. They are morons. They call at least once a week to try and sell me the free credit report credit protection scam.

It takes an hour to send a wire transfer at Wells Fargo while I sit there and watch them try to fill out the giant form with a pen. In front of their computer.

[Samwise]

I have two $30k BoA business credit cards. They are morons. They call at least once a week to try and sell me the free credit report credit protection scam

They stopped doing that when I asked if I had to close my account to make them stop calling me.   

The big drawback for me of doing all my banking with USAA would be not having free ATMs all over the place.  That's why I moved to BofA in the first place -- I got tired of paying to use their ATMs a couple times a week.

[Oban]

It takes an hour to send a wire transfer at Wells Fargo while I sit there and watch them try to fill out the giant form with a pen. In front of their computer.

I forgot about this, thank you for making me remember and then laugh out loud.

[Merusk]

I  having USAA just for the insurance.  I keep pondering making the move there for my 2nd checking account, but I don't. I feel compelled to bank with a locak branch on at least one account.

[Nazrat]

I have two $30k BoA business credit cards. They are morons. They call at least once a week to try and sell me the free credit report credit protection scam

They stopped doing that when I asked if I had to close my account to make them stop calling me.   

The big drawback for me of doing all my banking with USAA would be not having free ATMs all over the place.  That's why I moved to BofA in the first place -- I got tired of paying to use their ATMs a couple times a week.

I am also a big USAA supporter.  USAA refunds ATM charges at the end of the month.  You still get to use the other bank's ATM but don't have to put up with their bad practices.

[ghost]

I had a waiter rack up $2500 bucks worth of charges on my debit card after he stole it and USAA just deducted all the charges without any hassle.  I love USAA, however I do have the luxury of having their main office locally. 

[Strazos]

Good to hear about the USAA bits. Apparently I am allowed to use them, and also SDFCU...

But quite frankly I don't know shit about banking, and my stupid bank works well enough for me as-is, so I haven't switched...yet.

I might once I move overseas.

[ShenMolo]

I have two $30k BoA business credit cards. They are morons. They call at least once a week to try and sell me the free credit report credit protection scam

They stopped doing that when I asked if I had to close my account to make them stop calling me.  

The big drawback for me of doing all my banking with USAA would be not having free ATMs all over the place.  That's why I moved to BofA in the first place -- I got tired of paying to use their ATMs a couple times a week.

As Nazrat said, they reimburse ATM fees charged by other institutions, so you can use an ATM wherever.

You can also get cash without an ATM charge from most grocery stores. Just buy a drink or something and get cash back instead of paying the $2 ATM fee. What I do is just get $100 extra in cash out every time I go grocery shopping and use cash for everything instead of debit/credit cards.

[Viin]

But the points, man, you are missing out on the points!

[Merusk]

Those points are just there so the bank and Visa can fuck the business you're using your debit-as-credit at.  Look up info on how Visa makes money. If you're doing it at a small business instead of debit or cash, you're not helping.

[Viin]

Actually, I do avoid using my Starwood AMEX at small places and use my checking account Visa instead. But if it's a bigger company (say, starbux) they are fair game.

[Quinton]

This reminds me how much I hate BofA.  I really should change banks.

When I was buying my house last fall, I ended up needing to wire money into escrow from BofA and from Schwab.   With Schwab, I filled out a wire transfer request online, spoke with a customer service rep on the phone to verify, and was done in 5 minutes.  BofA could not initiate a wire transfer online or by phone.  I had to drive to an actual BofA bank, wait in line, fill out a paper form, wait in line, wait for the teller to find another teller to help with the wire form, wait for them to call somewhere else for approval, wait for them to get a signature card sent back from the other branch, etc, etc -- took almost 45 minutes *and* the wire didn't happen until the next business day.

The only thing about BofA that does not give me the rage is that their online billpay stuff is free and works (they'll even send a check to people they can't pay electronically -- that's how I paid my rent for years).  Everything else about them suuuucks.

Any suggestions for less crappy financial institutions that have a presence in the SF bay area?

[Signe]

The only thing about BofA that does not give me the rage is that their online billpay stuff is free and works (they'll even send a check to people they can't pay electronically -- that's how I paid my rent for years).  Everything else about them suuuucks.

My credit union does exactly this, too.  For free.  Maybe you could find something like that in your area. 

[Quinton]

Yeah, I know that online billpay is not unique to bofa -- it'd definitely be a requirement for whatever bank I would switch to.  I was just pointing it out as the only thing about them that doesn't piss me off.

[Krakrok]

Schwab claims to have online bill pay and the ATM cash withdrawal fee rebate. Sounds like you already have an account with them anyway. I've never used either feature.

I use Schwab's 2% back card so if Visa is taking 3% from the merchant at least they are giving 2% of it back to me.

[Quinton]

Hm! I've always just used Schwab for investment stuff (they were downstairs from Be when I got stock grants way back when, so they were convenient).  I'll have to check out their other features.

[ShenMolo]

But the points, man, you are missing out on the points!

My USAA Credit & Debit Cards both have Reward Points 

[TheWalrus]

I hit the jackpot. I use USAA for all my insurance and Navy Federal for my actual banking. I've never appreciated them more than with the recent horse shit going around.

I will contribute to the Fuck BOA sentiment since my only dealing with them was incredibly shitty.

[Signe]

I hit the jackpot. I use USAA for all my insurance and Navy Federal for my actual banking. I've never appreciated them more than with the recent horse shit going around.

I will contribute to the Fuck BOA sentiment since my only dealing with them was incredibly shitty.

I've only used them for a credit card and based on their shenanigans, I'd never even consider them to be my bank.  We haven't used credit cards for anything in the last two years, except the bank (credit union, to be precise) credit card on very rare occasions.  Paying cash or debit and using PayPal for nearly everything has made me feel better, too.  I stopped worrying about credit ratings when they started fucking with me because I could no longer see the point.  They can ruin all that on the whim of a nasty employee.  To continue dealing with these institutions would just make me nuts, not them.

[TheWalrus]

Navy Fed messed with you or BOA? Be real surprised if you meant NFCU cause I've never had anything but awesome with them.

[Soln]

debated on sharing this... day after this thread started I got a letter from BoA saying one of my CC had been compromised.  They thoughtfully sent me a new CC *before* they sent the explanatory letter. 

[Signe]

Navy Fed messed with you or BOA? Be real surprised if you meant NFCU cause I've never had anything but awesome with them.

BoA, of course.   Sorry, I thought I was being more obvious.  I've never even heard of those other ones.

[TheWalrus]

Oh good deal.

I've always been amused the fact that Navy Fed sends me a thank you letter when I pay off a loan, and also includes a new loan app. Giggidy.

[Sky]

One of my idle cards just cancelled the card and sent me an entirely new card. Different terms, different card. The terms are awful, too. I guess they're finally getting tired of me not using their card.

I use an amazon card for points, only way I can afford new music and books. Locally I use cash unless the business owner is a dick.

[Signe]

There are local shops where you are that won't accept cash?  That's just daft. 

[Sky]

There are local shops where you are that won't accept cash?  That's just daft. 

They accept cash, but if the owner is a dick I don't use it. I'd still prefer to give them my business, because it's a dick in the community, rather than a dick in Bentonville.

[MisterNoisy]

Semi-Necro:

Chase just informed me that they charge interest at the beginning of the month, but don't apply it until the billing cycle rolls over.  I only discovered this because I'd just got finished with my annual account zeroing, and not a week later, I'd found a $20 charge on that account.

I called them asking what the charge was for, and they explained it and I promptly closed that shit out.  The comical part is that they said 'you've been a customer for 10 years - are you sure you want to cancel?'  Quite sure thanks - your new policies suck.

[Signe]

My sister has paid off all her credit card debt and she used to put most of her bills in a pile for a couple of months before she opened them.  For some reason she opened one as soon as it came in and there was a $60.00 charge on it.  Since she hadn't used that card for a couple of years or so, she called them and they told her it was a new annual fee.  She's had that card for well over a decade and she closed it without a thought.  I have to wonder just how many people are doing this lately and how far the banks will go to make the customers they have left pay for it.

[Selby]

I have to wonder just how many people are doing this lately and how far the banks will go to make the customers they have left pay for it.

Banks don't give a fuck about people like her and me.  We're the ones who have cards and maybe use them once in a blue moon.  We aren't making them any money (in fact we are COSTING them money) so if they piss us off and make us go away, they don't care.  Like I said, Discover lowered my limit from $2500 to $500 sometime in the last year without a word, so they are one step away from getting canceled too.

[LK]

Bank of America is trying to put a happy face on all the fees that they charge.

http://factsaboutfees.bankofamerica.com/

My favorite:



BULLSHIT.