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Bank of America

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Helpful to 12 out of 12 people

I was a BOA credit card member since 2003 and used the card responsibly, making all payments on time and received many credit increases.  Recently I changed credit card providers because BOA raised my rates for no reason and when I questioned it they could do nothing for me.  When I canceled the card I did so via proper procedure.  I called for a payoff balance, confirmed that this would clear my account, payed the amount, and even received a refund check from BOA in the mail.  I also received a confirmation letter in the mail stating the account balance was zero and canceled.  My online account access was shut off and I considered the relationship terminated.  Six months later I received a bill for interest owed, past due. This was the first time I had heard from BOA since the cancelation confirmation letter and refund check.  Some how and without notification, my account had turned back on and accrued interest.  Beware, keep all confirmation letters and keep any eye on your account even if you think it has been closed!  It seems BOA is just another giant bank institution that collects its wealth via poor customer account management and endless fees and penalties.  When I contacted BOA to repair the account and cancel it for good, the customer service rep. attempted to defer blame towards me and didn't apologize for the mistake on their behalf until I explained the cancelation confirmation letter, refund check, and denied online account access. Please, DO NOT support this company, they represent the ethical decline of our modern financial system!  

tiredoffees's review was:    

  Apr 26, 2011 Reply

tiredoffees(1, 12)

Review by tiredoffees

1 Contributions 12 People Helped

Helpful to 15 out of 16 people

One of the worst banks in the country.  They should have been allowed to fail.  They received billions in bail-out money, but can't ever help a customer in need.  They act like they want to be your best friend, but constantly lie to you.  I started banking with them because of an arrangement through my work, worst decision ever.  I finally had enough and closed all of my accounts.  I am now banking at a much smaller and more customer focused bank and am much happier.  Don't use any products from this company, they will cheat you and overcharge you at every turn.   This company is very definitely not the bank of america. 

whyone's review was:    

  Jul 06, 2012 Reply

whyone(15, 55)

Top Contributor

Review by whyone

15 Contributions 55 People Helped

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They just don't get it. Helpful to 9 out of 9 people

I have banked with B of A to long, and will soon be switching banks. I have a credit on my account showing up on my web services. Over a 300 dollar credit to me. However when I call them, three different people have said they don't know why I have a credit but they would be glad to take the credit off my web statement. Really, you can't answer the question why it's there but you would  remove it with out having a clue. Welcome to the new world of terrible customer service. Seems to be common place these days. For me; not with B of A anymore.

looptour's review was:    

  Apr 12, 2013 Reply

looptour(1, 9)

Review by looptour

1 Contributions 9 People Helped

Helpful to 8 out of 8 people

My Mortgage was bought by them... nothing but problems... excessive charges on bank account also... closed bank account and trying to refinance to get away from them...

WCFStudios's review was:    

  Jan 21, 2012 Reply

WCFStudios(1, 8)

Review by WCFStudios

1 Contributions 8 People Helped

Helpful to 7 out of 7 people

 Got stuck with them because they bought our mortgage from another bank.  Terrible customer service.  Try to find a dept. you need to talk to, takes hours upon hours.  They have messed up our account and our credit numerous times, by losing information and payments.  Had problems getting property taxes paid on time.  We are trying to refinance just to get away from this bank.

sstev1's review was:    

  Jan 15, 2012 Reply

sstev1(3, 10)

Review by sstev1

3 Contributions 10 People Helped

Helpful to 7 out of 7 people

I don't see how they are the biggest bank in the world! They are simply a predator, all of their business practices are synonamous to loan sharking. I can't tell you how many times I had to call customer service to have fees reversed. Bank of America plays games with your accounts. I have one that I use for everyday use and I don't keep much money in in case my number gets stolen they can't take any money out. I noticed that BofA has the ability to "see" what charges are coming in. Let's say you pay someone with a check as soon as they scan it, BofA knows that it will come so if you don't have the money in right then, they will run that debit and rearrange charges that maybe 5 days old to go last but that check that was just scanned will go in first. So that they maximize the fees.

They have the latest technology and make banking really easy but their shady business antics makes it very hard to deal with them. I would totally use them more if they would have the ING Direct mentality but it's opposite.

dbatl2012's review was:    

  Sep 29, 2011 Reply

dbatl2012(15, 157)

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Review by dbatl2012

15 Contributions 157 People Helped

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Too big, but failed Helpful to 6 out of 6 people

I am renting out my old apartment to 3 tenants. All 3 transfer money electronically to my Bank of America checking account. Or at least, they try to.

Every month, I get an email from one of my tenants saying they had problems transfering the money.

I dread calling Bank of America.

First, I have to wait 25+ minutes.

Second, they give me a B.S answer every time.

I have called them 3 times. The first time, they said it wasn't an issue on my account. It was a limit on my tenants (nonsense, because we're not talking tens of thousands of dollars. They should be able to transfer out a few hundred dollars every month out of their accounts)

The second time, they told me it was an issue on my account. After I "Verified" my account, the limits would be suspended. I did verify my account, but that didn't solve the problem

The third time, they didn't even know about the account verification. They told me it was a limit on my tenant's accounts. I confronted the rep, and the rep used a cop out. "They had server issues the day they tried to transfer"

That was the last time I tried reaching out to them.

I have since opened an account in a different bank.

RioGangsta's review was:    

  Apr 10, 2013 Reply

RioGangsta(3, 6)

Review by RioGangsta

3 Contributions 6 People Helped

Sorry about the double post. Don't know how to delete reviews

RioGangsta's reply was:    

  Apr 10, 2013

RioGangsta(3, 6)

Review by RioGangsta

3 Contributions 6 People Helped

Helpful to 6 out of 6 people

I hate this bank.  They were doing a pretty good job and then they started charging me monthly fees I hadn't change my banking habits.  They increased how much I had to keep in my account.  I spoke with and they said they would reverse the fee's and they would show up on my next bill.  They also said they would fix it so I would not incur any new fees.  Of course when the new bill showed up.  There were no corrections and I had more monthly fees.  After three months of promises and 3 months of no results.  I took what I had left and ran to another bank that valued me as a customer.  I would advise anyone at this bank to do the same before they do the same thing to you.   Oh yeah -  I had had not problems for many years before this so your loyality doesn't count with Bank Of America.

spaiirring's review was:    

  Sep 22, 2011 Reply

spaiirring(19, 67)

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Review by spaiirring

19 Contributions 67 People Helped

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Helpful to 3 out of 3 people

Do you know that Citi bank is charging higher fees?

alexey5085's reply was:    

  Jan 16, 2012

alexey5085(10, 13)

Top Contributor

Review by alexey5085

10 Contributions 13 People Helped

Top Contributor

Ludicrous Loan Department Helpful to 4 out of 4 people

I represent 3 generations of BOA customers. My parents, myself and my children all bank with BOA. I have had mortgages, loans and accounts with BOA for years. I have impeccable credit but when I wanted to cosign on a loan for my college student to purchase a much needed car (her credit score was good, just not a lot of revolving credit since she is just starting out) we were denied the loan. In their own words my credit was better than they had ever seen but refused to loan only because of her lack of history. Her score itself is even good enough to buy a house but with no history, no dice. I expected that which is why I was cosigning. For 3 years she has never missed a rent or utility payment, graduated top in her class in highschool and is currently top in her class in college with 9 hours left to graduate. They are SO STUPID to turn away this kind of customer. I have to ask myself, WHY SHOULD I REMAIN LOYAL TO BOA? We had no problem getting as much money as we wanted and then some from the credit union (they were falling all over themselves for us) but I was trying to remain loyal. NEVER AGAIN!!!!

Sep 26, 2013 Reply
Never had any problem Helpful to 4 out of 4 people

I had all of my banking done with BoA since I was 16 and I opened my student Checking/Savings accounts. When I was 19, with a part-time job and student loans, I applied for their student "platinum" credit card and was approved with a $1000 credit limit. I've never had a problem with the credit card (no weird fees, no increase in APR, no funny business) and If I ever have a problem with my checking/savings account, I just chat them and they're pretty good about looking at my situation.

I just saw all of the bad reviews and just wanted to contribute my reasonable experience to the mix.

asierra4's review was:    

  Jul 04, 2013 Reply

asierra4(1, 4)

Review by asierra4

1 Contributions 4 People Helped

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Company Overview

Branded “the Bank of Opportunity”, Bank of America services personal, small business, and large corporate banking needs. Bank of America’s array of banking products and services include checking, savings, CDs, credit cards, mortgage, refinance, investment, insurance, and more. Bank of America’s noteworthy banking features include its Clarity Commitment, to help consumers better understand its banking products in simpler and straightforward terms, as well as the Keep the Change program, which helps consumers grow their savings faster when they spend. Bank of America operates online, in nationwide branches, and is accessible via mobile banking.

The founding bank, known as Massachusetts Bank and later renamed Bank of America, was established in 1784. Today, Bank of America is known as the largest bank holding company (according to assets owned) in the U.S and one of the largest financial institutions in the world, serving clients in over 30 countries.

Company Details

Bank of America

  • Established: 1784
  • Headquarters: Charlotte, North Carolina
  • Website: www.bankofamerica.com
  • Products: Auto Loans, Banking, Credit Cards, Home Equity, Mortgages
  • Assets: $2.16 Trillion
  • Available: Online, over phone, and in branches; nationwide

Rating Distribution (110)

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