- Report: #215945
Complaint Review: Bank Of America - Nationwide
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Bank Of America
www.bankofamerica.com Nationwide, U.S.A.
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Bank Of America Bank of America nightmare Nationwide
This is the letter I have sent to the bank:
My Bank of America nightmare began when my husband deposited a $3,000 check at the ATM. As soon as he deposited the check, the screen read something like "there MAY be a hold." So I waited a few days and when I checked our online account, the full amount was IN the "available balance." And so I began paying my bills and you know, doing silly things like oh..buying food for my family and paying a dentist bill.
Three entire days after I began paying my bills, BOA pulled the money from my account- placing a hold on it. I was immediately in the red.
I initially had ten overdraft fees. I called BOA and received an apology; and told that BOA would remove the hold immediately. The hold was not removed until almost a week later, resulting in three different sets of overdraft fees and three bounced checks. By the way, the check that was being held was from one of the biggest retailers inthe country! It was NOT a personal check.
I was charged a total of $55 for the returned checks. The supervisor I spoke with assured me that BOA would refund my fees and write an apology letter. Although, the apology letter would take a full ten business days to be mailed out.
I rec'd the apology letter, but not the check fees. Enter Felice Reed.
Felice Reed is a BOA CSR out of Richmond, Va. She asked me to explain why I thought they owed me any fees. I explained from start to finish. And she informed me that, no, BOA would not refund these fees. I once again began to explain that I had already been given the okay by a supervisor along with an apology. She began arguing with me. "Let me just explain this to you again," I said.
And with that, a CLICK. She hung up on me.
Finally, a supervisor called me- a Wallace Frye out of West Virginia. But instead of helping, he pushed me over the edge. He told me that he saw no evidence of any apology letter, and that if I even recieved one, that the apology letter was an error. And so I refuse to do anything else except to mail this letter. I am drained; I am outraged; and I am through with Bank of America.
The following is an excerpt from my conversation with Mr. Frye. Because I could not believe what I was hearing, I decided to (legally) record the rest of the conversation.
(I am in black, he is in blue.)
?I was told that if you were going to ?pend? the check, it would have been pending and then it would have gone through, not that you could put it into my account and then many days later, take it back out and you're telling me that this is normal business practice..that BOA does this??
*Any financial institution can place a hold at any time after the deposit.?
*After showing me that the funds are available, you can take it back out..at any time without notifying me??
*Yes ma'am we can.?
*I just want to get this right?because if you guys send me an apology letter apologizing to me, and now I have a supervisor- you- telling me that the apology for the error was an error, I just want to make sure that I get this all right?this is funny.?
*Well I'm sorry you think it's hilarious,?
*Yeah, what was hilarious was getting three bounced check fees.?
*Then let me ask you another question: Why did you guys reimburse me those ten overdraft fees???
*Someone felt that it might have been a bank error, but I see no evidence of bank error.?
*No body is on the same page at BOA. I want to know when I am going to get my money back.?
*You're telling me that the apology letter was an error.?
*I actually see no evidence of you receiving an apology letter.?
*Do you want me to read it to you? I have it right here. Let me get this straight, you are telling me the apology error was a mistake ??
*You're a supervisor and how are you helping this situation??
*I'm giving you the correct information.?
*The last person told me they were giving me the correct information, so they told me something different than you told me. How do I know what is correct and what is incorrect? As the consumer, how do I figure out who is telling me the truth if every time I call I'm being told different things.?
*We are sending you a letter. You need to give us proof where you paid a third party those fees and we will reverse this only as a courteousy.?
*Why would you reimburse it if it wasn't your mistake then??
*We will only do that as a courteousy. You're more than welcome to believe whatever you feel is necessary.?
*I'm believing what you guys have told me. What are you talking about??
*You're more than welcome to believe it.?
*Was there any further questions??
*I want to know why you don't see this apology letter in my file.?
*We don't keep files like that.?
*Well that might be part of the problem here.?
*Was there any further questions??
*Yeah, I want to know when I am going to get my money back.?
*When you receive the letter..?
*So now I have to wait for the letter.?
*How long is it going to take once you guys receive my documentation??
*Within 10 business days.?
*Well how do I get in touch with your supervisor??
*You don't.?
And that pretty much ended the phone call that I received on October 15, 2006.
I have dubbed this experience, ?The Bank of America Nightmare,? on my blog. Feel free to read for yourself. I'd like to post your response and resolution to this situation. At this point, I am not calling you anymore. I am not sending you anymore letters. I am not doing another single thing.
It is in your hands. Do not ask me to send documentation- as one rep. told me- proving that these fees have been charged to me. You need to do your own homework. I have given you the names and contact information for the three businesses that charged me. You call them and ask what they charge for bounced check fees. You have on file, copies of the checks that bounced (thanks!)
And please do not thank me for being a part of the BOA family again. This is not what family feels like; not to me. I want my $55 back. But please know that it's not even about the money anymore; it is about how I have been mistreated.
There is definitely a glitch in your system. First I was told it would take 10 business days to receive the apology letter; then 5 business days to process the information; then 10 business days to receive another letter requesting documentation; and now another 10 business days to actually be reimbursed. But to top it off, I am being told that the apology letter for your error- which there is apparently no evidence of- was actually an error. Get it together, BOA.
Please let me know if this is indeed standard policy. If this is truly your policy, I'd like to make other consumers aware of this, and take my business elsewhere.
PS- the check put on hold was from Sears and Roebuck.
Suzy
Fort Mill, South Carolina
U.S.A.
Click here to read other Rip Off Reports on Bank of America
My Bank of America nightmare began when my husband deposited a $3,000 check at the ATM. As soon as he deposited the check, the screen read something like "there MAY be a hold." So I waited a few days and when I checked our online account, the full amount was IN the "available balance." And so I began paying my bills and you know, doing silly things like oh..buying food for my family and paying a dentist bill.
Three entire days after I began paying my bills, BOA pulled the money from my account- placing a hold on it. I was immediately in the red.
I initially had ten overdraft fees. I called BOA and received an apology; and told that BOA would remove the hold immediately. The hold was not removed until almost a week later, resulting in three different sets of overdraft fees and three bounced checks. By the way, the check that was being held was from one of the biggest retailers inthe country! It was NOT a personal check.
I was charged a total of $55 for the returned checks. The supervisor I spoke with assured me that BOA would refund my fees and write an apology letter. Although, the apology letter would take a full ten business days to be mailed out.
I rec'd the apology letter, but not the check fees. Enter Felice Reed.
Felice Reed is a BOA CSR out of Richmond, Va. She asked me to explain why I thought they owed me any fees. I explained from start to finish. And she informed me that, no, BOA would not refund these fees. I once again began to explain that I had already been given the okay by a supervisor along with an apology. She began arguing with me. "Let me just explain this to you again," I said.
And with that, a CLICK. She hung up on me.
Finally, a supervisor called me- a Wallace Frye out of West Virginia. But instead of helping, he pushed me over the edge. He told me that he saw no evidence of any apology letter, and that if I even recieved one, that the apology letter was an error. And so I refuse to do anything else except to mail this letter. I am drained; I am outraged; and I am through with Bank of America.
The following is an excerpt from my conversation with Mr. Frye. Because I could not believe what I was hearing, I decided to (legally) record the rest of the conversation.
(I am in black, he is in blue.)
?I was told that if you were going to ?pend? the check, it would have been pending and then it would have gone through, not that you could put it into my account and then many days later, take it back out and you're telling me that this is normal business practice..that BOA does this??
*Any financial institution can place a hold at any time after the deposit.?
*After showing me that the funds are available, you can take it back out..at any time without notifying me??
*Yes ma'am we can.?
*I just want to get this right?because if you guys send me an apology letter apologizing to me, and now I have a supervisor- you- telling me that the apology for the error was an error, I just want to make sure that I get this all right?this is funny.?
*Well I'm sorry you think it's hilarious,?
*Yeah, what was hilarious was getting three bounced check fees.?
*Then let me ask you another question: Why did you guys reimburse me those ten overdraft fees???
*Someone felt that it might have been a bank error, but I see no evidence of bank error.?
*No body is on the same page at BOA. I want to know when I am going to get my money back.?
*You're telling me that the apology letter was an error.?
*I actually see no evidence of you receiving an apology letter.?
*Do you want me to read it to you? I have it right here. Let me get this straight, you are telling me the apology error was a mistake ??
*You're a supervisor and how are you helping this situation??
*I'm giving you the correct information.?
*The last person told me they were giving me the correct information, so they told me something different than you told me. How do I know what is correct and what is incorrect? As the consumer, how do I figure out who is telling me the truth if every time I call I'm being told different things.?
*We are sending you a letter. You need to give us proof where you paid a third party those fees and we will reverse this only as a courteousy.?
*Why would you reimburse it if it wasn't your mistake then??
*We will only do that as a courteousy. You're more than welcome to believe whatever you feel is necessary.?
*I'm believing what you guys have told me. What are you talking about??
*You're more than welcome to believe it.?
*Was there any further questions??
*I want to know why you don't see this apology letter in my file.?
*We don't keep files like that.?
*Well that might be part of the problem here.?
*Was there any further questions??
*Yeah, I want to know when I am going to get my money back.?
*When you receive the letter..?
*So now I have to wait for the letter.?
*How long is it going to take once you guys receive my documentation??
*Within 10 business days.?
*Well how do I get in touch with your supervisor??
*You don't.?
And that pretty much ended the phone call that I received on October 15, 2006.
I have dubbed this experience, ?The Bank of America Nightmare,? on my blog. Feel free to read for yourself. I'd like to post your response and resolution to this situation. At this point, I am not calling you anymore. I am not sending you anymore letters. I am not doing another single thing.
It is in your hands. Do not ask me to send documentation- as one rep. told me- proving that these fees have been charged to me. You need to do your own homework. I have given you the names and contact information for the three businesses that charged me. You call them and ask what they charge for bounced check fees. You have on file, copies of the checks that bounced (thanks!)
And please do not thank me for being a part of the BOA family again. This is not what family feels like; not to me. I want my $55 back. But please know that it's not even about the money anymore; it is about how I have been mistreated.
There is definitely a glitch in your system. First I was told it would take 10 business days to receive the apology letter; then 5 business days to process the information; then 10 business days to receive another letter requesting documentation; and now another 10 business days to actually be reimbursed. But to top it off, I am being told that the apology letter for your error- which there is apparently no evidence of- was actually an error. Get it together, BOA.
Please let me know if this is indeed standard policy. If this is truly your policy, I'd like to make other consumers aware of this, and take my business elsewhere.
PS- the check put on hold was from Sears and Roebuck.
Suzy
Fort Mill, South Carolina
U.S.A.
Click here to read other Rip Off Reports on Bank of America
5 Updates & Rebuttals
Phil
Bosque Farms,New Mexico,
U.S.A.
My Knowledge on this...
#2UPDATE Employee
Thu, November 23, 2006
It sounds like several people are frustrated by this, in a nutshell I'd like to try and clear up some things. For ATM deposits made, we realize we cannot notify you if there will be a hold, what appears to have happend is that your item, the funds were released, and then put on hold again due to a need for an extended verification by our department that handles item holds, if something wasn't matching up right or we were having a hard time trying to verify it, or if it was rejected and we are trying to get it to clear again and not leave you shucks out of luck. For the individual with the ATM deposit, I would save your reciept or speak to someone else, we will refund NSF/OD fee's as a result of an ATM deposit hold. Non-local-checks are items that are being routed through a different federal reserve than where the bank is located, to where you submitted your item for deposit. While local checks are items that are being to the same federal reserve the issuing and recieving bank, are sending all of their deposits. Your non-local-check can even be in the same city and state as our Bank of America location, that is all determined by the Federal Government in where they have chosen for banks in certain areas, to send their items to the Federal reserve for verification and tracking. Also, by Federal Law Banks are required to maintain at least 10% of their Deposits, this is to technically prevent the bank from loaning out money that does not exist. Naturally, not everyone in the country is going to cause a Run and take everything out of the bank at the same time, so I'm guessing they have found 10% to be suitable for banks. Funds availablity can best be described as Federal Regulation CC, which I'm sure if you search around, can find some more information. As far as our systems purposely flawing things? Making sure to overdraft items? Deposit holds not being accurate? This couldn't be further from the truth than the Earth is to the Sun. Are you suggesting that we bypass federal regulations and laws and make hundreds of thousands phone calls a day to verify the deposits immediately? This is completely absurd. As far as your charged off credit card with MBNA, because we aquired MBNA we aquired debt as well as accounts, customer information ect..your account history says a lot about what type of customer you are and we have that information on file. I really wouldn't pay it much mind, it is just there, from all of the banks we've aquired we've maintained information on file, down to the city and state where you opened your account, even if it was with a bank we aquired 15+ years ago. I hope that this helps everyone. Thank you for your time. -Phil
Anna
Boynton Beach,Florida,
U.S.A.
ME Too
#3Consumer Comment
Tue, October 31, 2006
A holding check does lie. The BOA computer system lies as well. About holding checks.... we all understand that these checks are not available right away and the banking system only confirms that deposit has been made, but not available. Especially on out-of-state checks. Well... according to having 2 bank accounts from the same bank, instead of a transfer, I stupidly wrote a check out from the old bank to the new establishment(same bank mind you) so that I could have a local branch without the hassle of being out of state. Well would you believe that BOA held my deposit for 10 business days and wouldn't release the money because they said it could be very well I am trying to slump and dump without money at all. How easy would it have to be to call the main branch to figure this out....hmmm Another thing about the computer system that they have, it is designed for inaccuracies leading to profiting NSF fees. This is why checking is now free and NSF fees have doubled. I will tell you why this is: when you download your transactions, you see your posted and pending transactions... some of the transactions are left out conveniently or a glitch they say. People that are on the run all the time find it very easy to spend as they go without balancing the checkbook 100%. It's very misleading so my advice is "don't trust what your downloading 100%" go over your paper statements and make sure everything is accounted for.
Steve
Bradenton,Florida,
U.S.A.
Fred, same thing happened to me yesterday1
#4Consumer Comment
Wed, October 25, 2006
Fred, I only have 2 Bank of America accounts, but now I have 4! And, the status of the 2 extra ones has changed 3 times in 2 days. They are attempting to integrate some program into the website, and it is not working. They bought MBNA as well as a few other banks and have no idea what the actual status of these accounts are. I think it may be a trick to get people to validate old uncollectable debts. I've been with BofA for over 15 years without a problem until now so I'll wait it out and see what happens. Good luck!
Fred
Washington,District of Columbia,
U.S.A.
Whats up with Bank of America???
#5Consumer Comment
Tue, October 24, 2006
What is up with Bank of America? Today I find this credit card account listed in my online banking that does not belong to me. I try calling Bank of America, but their phones were jammed all day long today-- something was up!Finally, after an hour hold time I get a rep. She investigated, and get this: Due to the merger of BOA and NBNA, the computer system pulled-out charged-off accounts of years ago and put one in my account! Worst part: she said, don't worry about it is a charge-off from 1987! I stated that is not mine, and I don't want it under my record. She said that there is nothing they can do. How can this happen?
Jarrod
Holiday,Florida,
U.S.A.
I feel your pain...
#6Consumer Comment
Mon, October 23, 2006
I sympathize with you, BELIEVE ME. I am going through a similar nigthmare with Bank of America right now. Long story short, B of A accepted an insurance check for deposit without my signature. I didn't sign the check because, like in the past, I'd simply have it stamped "FOR DEPOSIT ONLY", because I wasn't withdrawing any monetary funds against the check. Bankrobbers of America posted the funds to my account last Wednesday. I wrote a check against those funds for a new vehicle later that day. Then AFTER the dealership redeemed my personal check, Bankrobbers of America BOUNCED THE ORIGINAL INSURANCE CHECK out of my account, leaving me with a $2,000 negative balance in my bank account. Now they are RETURNING my personal check to the dealership, so I can be slapped with a bounced check fee......all because I didn't sign the check (that the B of A teller took anyways). I, like you, am DONE with Bankrobbers of America. I went to TWO DIFFERENT branch offices this morning to try to get this resolved, but neither branch manager seemed to give a ####. They all say that they are "very sorry" for my situation, but then follow it up with a "what's done is done" attitude.
