I have to admit, I had a serious issue with their credit card department several years ago (jacking up rates when they processed my payment late, not that it arrived late), I was irate, and they dropped the ball several times trying to get it fixed (although they did *try* to fix it).
However, when I ended up unemployed last year, they were wonderful to work with, waiving late fees, reducing interest rates, setting up long-term payments, etc.
I do the payroll for the barn I work for. We only have five employees, so they're handwritten. I have never been accused of having messy handwriting before, but one of the employees asked me if I could write neater because the bank machine couldn't read my writing. I asked why they couldn't go to a teller & I was told that BOA is doing away with tellers, and actually charges you more if you want a real person to do your transaction. Seriously?!!!
"You can't blame other people. You can't always say what happened wasn't my fault, and you know what? Even if you have an excuse, shut up. "Bruce Davidson Sr.
I *tried* to refinance through them. After 5 (yes, 5!!) months, I said no more (every thing that went wrong, they said they would fix it the next day...). Wells Fargo got it done in 6 weeks, at a lower rate!
"Life is too short to be a slave to the whims of others." -- RugBug, COTH
I have my day to day checking account with BoA and have for a long time. I never chose them, banks got bought and bought and bought and my account has moved from one to another over 35 years! That said, I've never had any trouble with them, I like the fact that there's a BoA ATM on nearly every other corner, so that I can make ATM withdrawals when I need to without paying a fee.
I do keep my savings and investment accounts elsewhere.
Oh, and I've never borrowed from them, so I can't speak to their lending practices.
Last edited by Canaqua; Nov. 1, 2010 at 08:06 PM.
Reason: more info
Had my paycheck direct deposited with them which was supposed to get me a discount but had to harass them with a personal visit to the back e.v.e.r.y. month.
Had another friend who took out a mortgage with them. Errors on the paperwork, again a mistake and higher interest rate 'accidentally' entered on the paperwork that my friend would have been stuck with had she signed the papers.
Don't even get me started on their sleazy credit card division.
Chase is at least fairly flexible when it comes to refunding fees, not nickel-&-diming you for everything, etc.
My experience with Chase was horrible! I was a customer for 14 years and had a great fixed interest rate deal on my credit card when they suddenly (and without notice) changed the terms on many customers a couple years ago. I made several attempts to work things out with them and keep the terms I had been promised, but they wouldn't budge. I paid the entire balance off immediately, cancelled my card and will NEVER do business with Chase again. Yes, I'm still PO'd two years later! There is a class action lawsuit in progress, but it probably won't amount to anything. Anyway, in my opinion they are crooks.
I had a problem with my mortgage last winter that was compounded by trying to deal with them. I did not originally get my mortgage through them - they bought the bank that had my mortgage.
The problem was not getting the required information. If you did not ask the right question, you did not get the right answer.
At one point, I was told they needed the money by the next day for the payment to be valid. I explained that I could not do that. The person on the phone told me to just go to the nearest BoA bank. I asked her which location within 100 miles of me would take a check for a personal mortgage. Her reply? Just go to the nearest one....what does she want me to do, spend all day driving over 200 miles to the nearest one, because there is none closer. Ironically, BoA has several offices in Newark, DE, right near me.
INGDirect, on the other hand, has no banks near me per se, but you can get help if you go into their offices - their corporate is in Wilmington, DE.
As soon as I can, I am switching my mortgage company.
I've banked with them for 15 years --checking, overdraft protection LOC, and a credit card -- and never had a single problem - no incorrect charges, no paperwork errors, and no customer service problems. I periodically do wire transfers, and the employees at the branch I use have always been extremely helpful. So, there are at least still some positive experiences out there!
However, with banks having changed their fee structures after all the recent regulatory changes, I would definitely shop the fees/features for the type of account you need, and think about whether you need access in other cities, etc . . . whcih is one of the advantages of the national banks, but is not an advantage everyone needs.
My husband used to work for them. I currently have my bank account with them. I've had no problems, and there are LOTS of branches in my area (important to avoid ATM fees).
I like TD Bank b/c they allow dogs in the bank, but they've messed up another account I had.
What I've found is that all of these banks have similar benefits and issues. It really depends on your branch. The branch around the corner from me is horrible. The branch on the way to the barn is great.
My husband and I used to use BOA but closed out our accounts and switched to Citibank. We are much happier.
My husband used to electronically transfer our rent money into our landlords accounts each month. Well somehow BOA transferred the money not once, but twice, without any authorization at all. We transferred the money at the 1st of the month. These additional transfers went through weeks later. They couldn't even explain why it was happening and of course we had to wait about a full week to get the money back. Once it happened the second time, we were out of there.
Before that my husband travelled to Japan for business and notified of them. They said no problem, etc, and he’d be able to use his card. Well he goes to use his card and it's declined and they actually cancelled the card completely. They can’t reactivate a card so he is stuck in Japan with no money. I had to wire it to him. It took about 2 weeks to finally get his new card.
They have screwed up 3 times with me, but when I went to the bank (I gave up on trying via phone), they fixed it on the spot, and I feel like I got more than I should have (it had to do with an automatic payment that kept bouncing my account, and each time I got a overdraft fee. When they understood what was happening, they refunded every single cent of the overdraft fees from the entire time I had been having the automatic payment taken out).
Their credit cards are crap, but they are good about working with you should you become unemployeed. My credit could have been shot, if they had not.
For a moment there, you bored me to death
Oh they are HORRIBLE about the out of state freeze on your account stuff. Account was frozen in NYC, at a baseball game! And after I had lived in VA for 2 years, they froze me account when I bought two diffrent things in a hour at a mall in VA.
For a moment there, you bored me to death