Bank of America
Reviews and Complaints

I am a business owner... I applied for a business bank of america visa card... For money in money out use for customers paying by cash and repaying there purchase with a credit card... Never was late with payments paid the balance... But but... Bank of america visa never told me that they charge a daily interest rate and inhinded charges on top of there monthly interest rate... Which we were unaware of... After three years... $15, 000.00 dollars of interest was added on to the visa card... Can this be real... How can they get away with this robbery... We finally got a loan and closed the acct. And please be aware of this horrible company... I hope this helps people out there thinking about a credit card for there business...

I am a dissatisfied ex-client of Bank of America. As I kept my personal accounts with BOA, and had not experienced any problems, I opened my business account with them as well. My business was doing well, and I took out a bank of America visa business card.

Shortly after, my business slowed down, as most businesses do. The business card had a balance of just over $14k. For 4 months I was not able to make a payment on the Visa card, and had no funds available in my bank of America business checking account. My Personal checking account had just over $8k and another $2k in my personal savings account. My wife had cashed out her 401k so we could pay for our daughters upcoming surgery.

I received a (yes just one) call from the bank of Americas collection department. They wanted to work out a payment plan. I let them know that I was just going through some difficult times and was not able to structure a repayment at this moment. Sure there was about $10k in my personal accounts, but to me my daughters surgery was more important. The $10k, along with selling my car was going to cover her surgery. Well Bank of America removed ALL the funds from my Personal accounts (both savings and checking) to payoff the business credit card.

So we called bank of America. The call was redirected to a representative of bank of America who identified himself as Tobias Thompson. He said that BOA had taken the funds to collect the debt on the business credit card. Tobias said that Bank of America had every right to remove these funds as it was in the terms of business agreement. I have read it and still cant find where Bank of America can take money from my personal account to payoff a business credit card. We even explained to Tobias how the funds in the personal account were for our daughters surgery, and that is why we were not able to make payments on the business card. They didn't care!

I purchased my 1st home in May 2005. This was all new to me. The finance company that helped me secure the loan left out a lot of IMPORTANT details. Example... my loan could be purchased by a mortgage company other than the initial mortgage company at my closing. This occurred within weeks of my mortgage. Before I made my 1st payment. Purchased by Countrywide and HSBC, a split mortgage. That was not explained to me either, split mortgage. Did either mortgage company contact me to see if I understood everything, or had any questions, NO neither did. I had to ask around what a split mortgage was as the finance company who helped my get my loan was no longer in business. Guess as long as the mortgage companies have someone's name on the dotted line, that is ALL they care about.

My story is the same as TOO many others. I signed my contract not realizing what a ARM was or meant. My payments more than doubled after 2 years when my ARM came up with Countrywide. HSBC did not increase my payments. How could Countrywide raise them, but not HSBC when I only signed one contract when I bought my home, not two? My house now has been set for a Sheriffs Sale next month by Countrywide. It has been on the market 10 of the last 12 months.

When trying to discuss things with Countrywide, I was informed it is "my fault" because I didn't inquire about a ARM before signing the paperwork. It was all wrote out in my contract. They did not care about me, my finances, or the fact I am loosing my home at all, not to mention nothing was explained to me about ARM's. Yet the CEO of Countrywide got 192 Million dollars for "compensation fees" in 2007. Wonder what his salary was? This was on the National News. I hope the FBI hits Countrywide HARD for the things they are doing and have done to their customers. FBI investigating was on the National News also, a different day!

I was told at my closing "pay your payments on time for about 2 years, refinance then and you will be able to get a lower interest rate." NOBODY bothered to say "in 2 years your ARM (and explain what that is) will be up and your payments will almost double from the payment you see now". I was FLOORED when I realized 1 1/2 yrs after buying my home what my new interest rate and payment will be. I no longer can afford my home and as I stated, is starting to go through the foreclosure procedure. Instead of improving my credit by purchasing a home, it is now being destroyed, FOREVER. If you are buying a home, while sitting at the closing, be sure to ask questions like, "in a few years will my loan change and if so to what & for how long".

I guess thinking back now, I should have made everyone sitting at the closing table wait while I read EVERY line on EVERY page of my contract. Because I have 2 "mortgages" - split mortgage with different companies, with different terms in the fine unexplained print.

I HAD A LOAN WITH A HIGH INTEREST RATE WITH COUNTRYWIDE AND TRIED TO REFINANCE// THEY DENIED ME// THEN WAS ABLE TO REFINANCE WITH A BROKER WITH AN FHA LOAN FOR A 30 YEAR FIXED RATE OF 6 1/4 PERCENT//// I HAD TO PAY A HUGE PRE PAYMENT PENALITY OF OVER 5000.00 DOLLARS TO COUNTRYWIDE TO DO IT// THEN COUNTRYWIDE BOUGHT THE LOAN IMMEDIATELY BACK FROM THE BROKER THE DAY AFTER CLOSING// HERE THEY DENIED ME AND WANTED TO KEEP ME AT THE HIGHER INTERST RATE BUT THEN THEY ACCEPTED THE LOWER LOAN FROM THE BROKER STEALING MY 5000.00 DOLLARS/// AND MY MORTGAGE COMPANY WAS COUNRTY WIDE AND STILL IS LEAVING ME OUT 5000.00 DOLLARS AND NEGATIVE EQUITY IN MY HOME// ITS PRACTICES LIKE THIS THAT COUNRTYWIDE DOES TO KEEP PEOPLE TIED TO THEM NO MATTER WHAT IT COSTS THE CONSUMER// THEY HAVE FAILED TO ANSWERE MY CURRENT LETTERS I HAVE SENT THEM AND FAXED THEM AND THE BANK COMMISSIONER FROM PA ALSO SENT THEM A LETTER THAT THEY HAVE NOT RESPONDED TO// THEY ARE THE ROOT CAUSE OF PEOPLE LOOSING THEIR HOMES AND BEING IN FINANICAL TROUBLE...

I once had a credit card issued by MBNA. Once they were bought out by Bank of America, my credit card was now the property of some fools known as FIA Card Services. I had authorized them to take out the minimum payments due from my checking account on the first of each month, thereby never missing a payment, and not being accessed a late fee. All of a sudden on January 1st, 2008, i noticed they began to debit my checking account TWICE for the same amount. So I phoned in to figure out what was going on. They apologized and told me they'd wire the funds back to me and i should see it post back into my checking account the following day. Long story short, I waited 11 days to get that back to me after long hours on the phone arguing with these incompetent individuals. During that call, I revoked the authorization to debit my checking account and demanded my bank's information be deleted from their system. Come Feb 1st, again 2 drafts were debited from my checking account. Again I waited days to get the money put back into my account. Same thing in March. I have had enough with these fools. How dare they think they have the ability to just draw MY funds whenever they want. They are nothing more than crooks and criminals tapping into my hard earned money in order to grab an interest free loan. I have filed a complaint to the Better Business Bureau of Delaware about their illegal practices of basically stealing $ from client's checking accounts. In the complaint, I have also requested all bank fees be refunded due to overdrafts caused by their unauthorized debits, AND in addition, I want compensation for the headaches, and interest for the days I basically 'loaned' them my money (and that interest rate is at the HIGHEST possible interest rate allowed by law). Should this occur again in April, I will be filing a small claims lawsuit against them, or even will consider a class action law suit should I find out they are taking advantage of more individuals other than myself.

In December 2007 sent $415.00 to Eric Park at the cooperate office for Country wide mortgage. The paperwork the company sent me was completely different than our verbal agreement. I therefore called Mr Eric Park and canceled the agreement. He said He would return the deposit. I have called his at least 10 times and left messages with no returns. I have called his manager 2 times ( Ephraim Farol) at [protected] ex 3569. He has not returned my calls ether.

Yesterday 3-8-2008 I called again and added the vice president of the company to the calls (Shawn Welcher) at [protected] ex 4265. He also did not return the call.

The proposed loan number is [protected] dated [protected].

I recently moved to Alaska to help my aunt out with her three children and house while her husband was shipped over to Iraq for a third tour of duty. With that came the process of changing my address, my billings addresses, and so forth. Fortunetly, I was relieved I could still keep my bank, seeing as how Alaska is one of the fifty states. I was incorrect in this assumption.

I called to ask for postage-paid deposit slips and envelopes, and a representative assured me they'd be here in 10 business days. When I checked my mail, I had deposit slips, but no envelopes. I called in to inquire why I didn't receive any, but was told I would have to enroll in "Bank by mail". So I was transfered departments and waited a good thirty minutes on hold. When I spoke to another rep. I was informed that was only available for customers in California. I asked for a supervisor. When I spoke to one, he let me know that at this time it wasn't available for Alaska, and I would have to pay for stamps and envelopes, but maybe I would be able to get reimbursed for that amount. He advised I called Customer Care tomorrow. So I called and immediately asked for a supervisor. That supervisor informed me that Bank by mail is no longer offered anywhere, and I would not get reimbursed. I asked for his supervisor. After more outrageous hold time, i spoke to another supervisor who told me the same thing. I asked for Her supervisor, she informed me that her supervisor was busy, but as soon as he was free, I would get a call back later that day.

Surprisingly, I received no phone call. the next day was Sunday, followed by presidents day, So finally on tuesday, I called back and asked for a supervisor. Then their supervisor. Meanwhile, waisting more time on hold and getting different stories from each represenative of the company. By this time, I am upset, and I spoke to a supervisor named Louisa who informed me that I could not get postage paid envelopes and would have to buy stamps to deposit money into MY ACCOUNT, because there is no Bank of America in Alaska. She wanted to check with the military branch (my aunt and many neighbors have military accounts in which they receive postage paid envelopes) and the bank by mail branch, and said she would call me later today or tomorrow. Once again, I did not receive a call.

Luckily, I had her ext. so I called customer service again, gave them the ext. and asked to be connected. After more hold time, she came on the line and informed me that "Bank of america has not forgotten about me" and that she did some research and found out that they no longer offer postage paid envelopes to ANYONE.

After all my time wasted, many broken promises, dealing with representatives that had attitudes and ones that gave false information, I was fed up. I then realized I am going to have to switch banks.

I urge anyone who doesnt want to be treated like a small, meak, and FORGOTTEN individual to STAY AWAY FROM BANK OF AMERICA, which will not serve all americans in all fifty states like they should.

We were contacted by the Birmingham, AL office of Countrywide to refi our home. We gave them some info and they said we were approved contingent ONLY on our house appraising a certain amount. We paid for the appraisal, credit report, etc. They did the same thing to us that was posted earlier by someone. They took our money and told us this beautiful time-frame they would close in so many days...never happened, still hasn't happened. Our loan status on their website says we were declined for our loan. We were upfront about the things on our credit report since we had had a lot of sickness in the last 5 years...but before taking our appraisal money we were told the credit report did not matter and were pressured to take our appraisal money. Buyers beware and run for your life. The only time-frame promise that was kept with this company is the IMMEDIATE debit to our checking account when they took the appraisal money from it. So since then all they did was pass the buck to someone else. This company absolutely promised they would do things speedily and this proved to be absolutely false. When we were finally told we were declined I requested my appraisal fee back and the loan officer forwarded the call to the "branch manager" who I informed how I felt about their practices. I informed him that we felt we were treated like a sales number not individuals. He assured me this was not the case and as I started to hang up the phone he had to ask what my name was. This has been a total 3 ring circus for us and I wish I had never answered the phone the day they called. Run as fast as you can to a mortgage company that will be honest with you. Not only our time was wasted but we were given false information and false hope that sure doesn't help when you have already been suffering from major depression for several years. This office's right hand never knew what the left hand was doing and I have never dealt with a company that was as disorganized and incompetent. Again, run don't walk away from Countrywide unless you enjoy run-a-rounds, voicemails from loan officers saying they "will be in training all day," voice mails from those individual's supervisors that never return calls, repeatedly asking for the same documents that you have previously faxed them and all along wondering why they bothered to call us trying to refi us in the beginning. By the time they decided they would deny our loan I was totally relieved that I could stay with the company we've had and rather just keep the interest rate where it is because at least I know my original mortgage company is honest. Since this happened I've learned we are not the only ones that have had similar problems, but luckily we are not financed with them because it could have been much worse as I've read many horror stories since from people who have been financed through them.

In 1996 we had a little financial difficulty which resulted in our first ever late payment (two weeks late). I sent in the late payment with lates fee and the up coming monthly payment to them. Two weeks later to my surprise when checking my mail, Countrywide sent my two payments back to me! When trying to contact anyone one the phone for days on end it was impossible.. no one knew anything of course and could barely speak english. I continued to send my payments with the original two payments in to them on time and they were all sent back, FIVE months worth of payments!
Please keep in mind that this was five months of trying to get to the bottom of all this with people that knew nothing and or had no answers to anything! No managers or upper staff available. I was however transfered to a ladie that was of foreign dialect... the only words that I could clearly hear was that I was in foreclose review! Thus my wife and I knew that we were screwed! Lost the house.
Now I will state that what I posted is the Truth!

Reading everyone's complaints has confirmed what I have suspected all along -- that Countrywide and this rogue "debt collector" they employ is ripping off good paying customers! I wasted 30 minutes of my time this morning fighting with them and I was NOT going to be assessed a late fee. After arguing that long, they did reverse it, but some of us need to get together and start a class-action suit against this bunch of thieves! I have also had a perfect record with these idiots -- no late fees and no late payments, for 3 years. So I brought my payment to a Countrywide branch last Friday, the 15th. At the branch it states that if you physically have it there by the 16th, they will not charge you a late fee. Due to the 16th being a Saturday, it technically wouldn't be late until the 18th. So I went to my online bank acct on the 20th and the check had not posted! Weird. I went back on the 21st and it still had not posted! Finally, I got a call from the "debt collector" on the 21st. I went online and saw the payment had just posted. And they added a late fee. I could have walked the stupid check from Carlsbad, CA to Van Nuys, CA where the payment is sent. It is only 100 miles away or less! It should not take 6 days for something to post. I think they are holding onto checks, saying they never got them, and then charging late fees to people to make a profit! And when I told them I have a receipt from their branch that shows it was brought in on the 15th, they could care less! They said the branch shouldn't tell people that a late fee won't be assessed as they are not a payment processing center. Hel-LO -- this is NOT a franchise -- the branch is part of their corporation! I am not to believe anything one of their corporate offices tells me and the onus is on ME to figure that out? I have a feeling they also "lose" payments sent by U.S. Mail. How convenient. I think they hope some poor saps won't fight back and they can make more money by charging late fees for payments that aren't late, to make up for their losses! I saw that the attorney generals of Florida, CA and 2 other states are looking into the unfair business practices of Countrywide. We all know they are the "subprime king" and lent money out irresponsibly, but it also said something about they are investigating how payments are logged. So let's lodge complaints with our attorney generals and if you hear of any class-action lawsuit against them, let me know!

I was called a "valued" member for my Mastercard account (which I've had since 1988) by an FIA card services representative today. A cardholder for 20 years and one that pays off her balance every month should mean something shouldn't it? Not as valued as one might think though. When I spoke with an "account manager" as she called herself, she refused to credit my account for a late charge that was assessed because I failed to make my payment the business day before the due date. I paid my balance off on due date but it only posted the next business day so I was assessed a $39 late charge plus finance charges for a balance that was under $300. I felt like a child being lectured about how it was my responsibility to make the payment timely to ensure it posted on paydate and that if I would have called and paid $15 to initiate my payment over the phone rather than over the internet my payment would have been timely and the $15 fee vs the $39 late charge would have saved me money. I explained that my husband's father was just diagnosed with a terminal illness so things are in a bit of chaos right now and the response from the "account manager" was that everyone has things going on in their lives but they still have to make their payments timely. For a customer of 20 years I felt that I was treated very coldly and that FIA's "account managers" are not at all customer service oriented. I asked to speak with a manager but the "account manager" refused saying all managers were in meetings and she could handle my account. I asked for a manager several times and was finally told they would have one call me back within 48 hours. Rather than refunding the late charge she was willing to honor my alternative request to close my account - 20 years - means nothing.

Bank of America is the worst bank in all directions of time and in every dimension. This is not an exaggeration, simply a fact! They do not credit erroneous charges even if one has proof. This has happened to me a couple of times with them. They are allegedly in bed with the Bonesmen and freemason society groups and will harass anyone if they dare say the truth about the awful business that they are!
Plus they will steal your money by not honoring the proof of the erroneous charges even when the business said they gave a credit. They are alleged thieves like Andy O'Niell who is President of Valley Bank in Helena Montana who closed my accounts for no reason other than to harass me, and then had the audacity to keep over two hundred dollars I had in one of my accounts. He is a liar and a thieve, and I BELIEVE he will soon be behind bars. And, I BELIEVE he ain't going to like the Helena jailhouse! You see Andy is on many boards that have to do with banking thru out the state of Montana. I wrote our banking committee in the Senate in regards to Andy but I believe they are just like him only in different skins! They have not helped me, and yes I do in fact sign part of their paycheck!

Truthfully, Karen Romero.

We have a personal checking and business checking account both with various credit cards through BOA. Due to the real estate market, we became behind on the business credit card payments. My husband alerted BOA of the situation which they agreed to take 35 cents on the dollar for the 2 credit cards for business, but with a payment plan. Last week, the drafted my PERSONAL account for 100% owed on 1 card and 50% owed on the other, causing everything else I had to overdraft. I am closing my accounts. They say they are "within their right" per our credit card agreement.

I noticed on my fiancee's checking account statement that a deduction of $125 was made on 1/31/08. This was paid to the order of FIA Card Services. It was an electronic funds transfer and shows my name and address but I did not authorize such a deduction, and I certainly did not ever tell anyone to take the money from someone else's account! I will look into this further today to see what amounts of money has been taken by FIA in the past months. I see that there is a complaint listed on this website against FIA for something very similar (dating from July 2007). What is going on...

I opened a savings account with Bank of America after having a checking account with them for the past 12 years. I have done all my banking online so I figured it was just as well to process my order online as well. I clicked on the create new account part of the website entered all of my information and requested that funds be taken from my checking account to start the new acct. I got a confirmation notice that my request could take one to two business days and that if approved my information would then be viewable online and I would get my new card in the mail within two weeks. I figured that was fine.

I waited not just the two but three business days before checking online and was not surprised to see I had been approved and had a new savings account already set up. However what was surprising was that it showed at a zero balance and my checking account still had all my funds without any pending transaction letting me know that there would be money being transferred to my savings as I had requested. Well after having read all of the information on having a savings account with them I knew I'd be getting fees charged without a minimum balance so I decided to request anew that money be transfered from my checking. I immediately saw this transaction as pending and my checking account now only showing the lesser amount as available so I was certain this new transaction would process correctly.

Now having a new savings account with a proper balance and my checking account still adequate enough to fulfill all of my pending transactions I did not have a further need to look into it again in any immediate time. A few days later I decided to log in once more just to ensure the pending transaction had processed and everything was indeed in order I find more funds in my savings acct than I had originally in total and a checking account in a very nasty negative red number. Altogether there were five overdraft fees totaling $175. I started to only slightly panic.

I checked my transactions and noticed that both my second requests to transfer from my checking to my savings, and my original request, which was no where to be found when I submitted the second, had both processed on the same day and were now sitting in my savings account which had suddenly swelled to a number I did not have originally in both accounts combined. The total was the amount of both transfer requests combined. I immediately realized the error, but somehow knew that if I called customer service they would see what I did and would help me get my account straightened out and reverse those overdraft fees. I could not have been any more wrong.

The first representative I spoke to, Michelle, very politely listened to my situation and placed me on hold assuring me she would find out how to help me out. I waited on hold no less than 5 minutes and when she returned the politeness had suddenly vanished and instead in a curt voice I was told that I was responsible for the error and that I would not be refunded. I asked why and was told that the error had occurred in "the online banking" and so Bank of America would not refund me.

"Well," I thought, "if the error occurred in 'the online banking' and so she can not help me, I should speak to someone in 'the online banking.'" So I asked to be transferred she, suddenly polite once again, assured me she would get ahold of an online banking representative and then transfer me and again I was on hold. No less than 8 minutes this time. When she returned, the politeness doing it's magical disappearing act again, she informed me again that the error was in my negligence and that I would not be refunded any overdraft fees because I should have known via the pending transaction that the original request was already being processed and that online support could not help me because the original transaction was done at an in bank counter.

Forgetting for a moment that I never requested any transaction inside a bank, although not to forget it completely because it is important, my original woe had been that I did not see the original transaction pending so therefor proceeded, as hopefully expected from an honest customer, to assure proper funds in my savings account by submitting a second request to transfer funds. And not only that but when a transaction shows as pending in Bank of America online banking, it does not count that amount towards the available balance so even if I had wanted to transfer more money than I had in my checking, by the system itself it would have been impossible if the transaction was indeed pending.

I knew I was getting nowhere with Michelle so I asked for her manager. She declined to transfer me because she stated her manager would not get my money refunded either. However I persisted and soon was left on hold again. No less than 10 minutes this time; the hold times getting noticeably longer each time. So next I spoke to Michael, he gave me his last name but I won't say it. Michael the supervisor politely listened to my complaint again along with the lack of logic from the answers Michelle had provided and preceded to let me know that I was responsible because I had knowingly requested the original transfer at a counter inside a bank and that seeing the pending transaction online I should have not made the second request. He never lost politeness but it was very obvious he listened to nothing of what I had said and knew nothing about the way his employers website worked.

I decided to stop there because it really was getting me no where, but I'm now really at a loss about what to do about this. I know that I should not be forced to pay those overdraft fees because it is not my fault, and I don't even know how to submit a BBB complaint because I don't know what Bank of America location I should submit the complaint against because I don't know which one handles "the online banking" for accounts in Texas.

Fraud: me and my wife both have an account with bank of america but the accounts are separate no joint. I make a payment to a company for $300. But the company with only check extracted. The $300. From my account and another $300 from my wife account, so the total amount taken out of the account was$600. When i asked the bank reason why this would happen the bank said that the routing number were are alike. After that information the bank suggested. That i made claim, so i did, a few days later a letter direct to mi wife came in the mail from the bank explaining that it wasn't necessary to make a claim to the company and that the $300. Were returned to my wife's account. That sane day i went to the bank to make a withdrawal and noticed and overdraft in my account $300.,when i called the bank looking for an explanation they told me.that the money returned to mi wife's account was taken out of my account.as far i knew when a claim is made they should talk to the company so that the money taken out the account in the first place was replaced,that's what is called """"fraud""""" thank you.