I knew BoA would sneak a new "fee" in

[Robinrs]

...after they claimed they were taking away the five dollar debit fee.. I just had NO IDEA how fast they'd do it.

I handle my elderly uncle's affairs and found a $12 fee tacked onto his acct on the 10th. Of course they were CLOSED on the 11th, I guess they'd figure everyone would forget about it over the weekend.

I told my son to check his acct, also... another $12 fee added! Honestly between my 18yo son and my uncle, BoA would've been $24 dollars a month richer for months! I cannot imagine how many thousands of customers they pulled this one on!

I called this morning. They gave me the "all of our associates are helping other people at this time" crap, I guess hoping I'd hang up. 25 mins later I gets a customer service person on the line. "Oh dear, this is a MISTAKE"... yeah.. RIGHT.

Please check your accts regularly. These banks are desparate and they will find a way to get it from us.

In the meantime, I'm moving my uncle to a credit union MONDAY.

 

[lucas43068]

i have banks, but so far ive loved my credit union, had one problem with them, and tey took care if it right away, i talked to a person(not a robot) and it was taken care of that day..

 

[mickeyluvr004]

Is this a checking or savings account? i have both and will be checking them, so they refunded it to u? thanks for the heads up...

 

[meriface11]

I just checked mine and no fee so far, but I'll keep looking. thanks for the heads up

 

[NYCDiane]

I check my accounts daily --- first thing in the morning and last thing at night to ensure no funny business going on (I had an issue with Chase hence the OCD about checking my accounts so much).

My husband was with a credit union at one point. Never again!! He had his PayPal account linked with his credit union account (just for verification purposes, not to spend from). Anyway, there were some fees he was past due on and paypal automatically took it from the credit union. There wasn't enough money to cover it so paypal didn't get paid and he was hit with a $39 fee. They tried again a few days later. Same thing and another $39 fee. Again, a few days later. Same thing and yet another $39 fee.

He went to the credit union to cash a check and that's how we found out. They automatically took the 3 $39 fees out of the money he should have gotten from the check. He came out and told me and I went in with him and asked what was going on? Why didn't anyone notify us the first, second, third time the SAME PLACE was attempting to take money??? Can we please get the fees reversed? No, they wouldn't give the money back. We closed the account on the spot and will never use another credit union again!

They're supposed to give "personalized service" and all that other crap. Nonsense!! I asked the woman (manager) about reversing even one of the fees and she wouldn't. I asked for a customer service number and she LAUGHED and said it would only go right back to them.

People can say what they want about "big banks" but I'd rather use a place that you can reason with and actually get customer service than some credit union where you have nowhere to turn if they do something idiotic.

Credit unions used to be a big thing back in the 70s/80s when only union members could join a credit union or you had to be "invited". Now? Any scammer can open a storefront and call it a "credit union". Credit unions aren't even FDIC insured. SOME of them (NOT ALL) are covered by a national credit union insurance fund (or something like that).

 

[mrsklamc]

Sounds like the issue was Paypal, not your credit union.

 

[Robinrs]

Is this a checking or savings account? i have both and will be checking them, so they refunded it to u? thanks for the heads up...

Both were checking, easier to not notice a $12 deduction, I guess.

I check my accounts daily --- first thing in the morning and last thing at night to ensure no funny business going on (I had an issue with Chase hence the OCD about checking my accounts so much).

My husband was with a credit union at one point. Never again!! He had his PayPal account linked with his credit union account (just for verification purposes, not to spend from). Anyway, there were some fees he was past due on and paypal automatically took it from the credit union. There wasn't enough money to cover it so paypal didn't get paid and he was hit with a $39 fee. They tried again a few days later. Same thing and another $39 fee. Again, a few days later. Same thing and yet another $39 fee.

He went to the credit union to cash a check and that's how we found out. They automatically took the 3 $39 fees out of the money he should have gotten from the check. He came out and told me and I went in with him and asked what was going on? Why didn't anyone notify us the first, second, third time the SAME PLACE was attempting to take money??? Can we please get the fees reversed? No, they wouldn't give the money back. We closed the account on the spot and will never use another credit union again!

They're supposed to give "personalized service" and all that other crap. Nonsense!! I asked the woman (manager) about reversing even one of the fees and she wouldn't. I asked for a customer service number and she LAUGHED and said it would only go right back to them.

People can say what they want about "big banks" but I'd rather use a place that you can reason with and actually get customer service than some credit union where you have nowhere to turn if they do something idiotic.

Credit unions used to be a big thing back in the 70s/80s when only union members could join a credit union or you had to be "invited". Now? Any scammer can open a storefront and call it a "credit union". Credit unions aren't even FDIC insured. SOME of them (NOT ALL) are covered by a national credit union insurance fund (or something like that).

Wow! I guess you can have issues with any institution, huh?

 

[SandrA9810]

I check my accounts daily --- first thing in the morning and last thing at night to ensure no funny business going on (I had an issue with Chase hence the OCD about checking my accounts so much).

My husband was with a credit union at one point. Never again!! He had his PayPal account linked with his credit union account (just for verification purposes, not to spend from). Anyway, there were some fees he was past due on and paypal automatically took it from the credit union. There wasn't enough money to cover it so paypal didn't get paid and he was hit with a $39 fee. They tried again a few days later. Same thing and another $39 fee. Again, a few days later. Same thing and yet another $39 fee.

He went to the credit union to cash a check and that's how we found out. They automatically took the 3 $39 fees out of the money he should have gotten from the check. He came out and told me and I went in with him and asked what was going on? Why didn't anyone notify us the first, second, third time the SAME PLACE was attempting to take money??? Can we please get the fees reversed? No, they wouldn't give the money back. We closed the account on the spot and will never use another credit union again!

They're supposed to give "personalized service" and all that other crap. Nonsense!! I asked the woman (manager) about reversing even one of the fees and she wouldn't. I asked for a customer service number and she LAUGHED and said it would only go right back to them.

People can say what they want about "big banks" but I'd rather use a place that you can reason with and actually get customer service than some credit union where you have nowhere to turn if they do something idiotic.

Credit unions used to be a big thing back in the 70s/80s when only union members could join a credit union or you had to be "invited". Now? Any scammer can open a storefront and call it a "credit union". Credit unions aren't even FDIC insured. SOME of them (NOT ALL) are covered by a national credit union insurance fund (or something like that).

That's slightly fault on your part. It's part of the Paypal agreement when linking to a checking account. They do send an email notifying you of any fees you may owe, before actually trying to take the money from you. It was probably from Ebay as they bill you for the fees. Paypal automatically takes their share any time money is deposited into the account.

I had to jump a couple of hoops, but I was able to get the bank to stop processing NSF. If there's not enough in the available balance, the transaction will automatically decline. This was before the change in law. The original checking account was set up like this, but as they changed the basic account, the CU automatically put on overdraft protection.
It took a few days, and sitting on the phone with the bank manager to specifically say "I want the account back to the way it was originally". If there's a pending $20 transaction, then that money is not available to use for another transaction. I would be far from embarrassed for the cashier to say it was declined.

 

[Swimalie]

Credit unions used to be a big thing back in the 70s/80s when only union members could join a credit union or you had to be "invited". Now? Any scammer can open a storefront and call it a "credit union". Credit unions aren't even FDIC insured. SOME of them (NOT ALL) are covered by a national credit union insurance fund (or something like that).

Credit Unions were not just for union people. My husband joined one because his dad was in the air force (not union) in the 1970s. His dad was not in a union but was able to join due to his place of employment. But... my husband closed the account when, in 2006, they decided to start charging a monthly fee. We're with a big back and have never been charged a fee but this credit union that he had been a member of for over 30 years charges him. Not all credit unions are good.

 

[rtrtx2]

one thing, do not lump all banks in one category. Even more so remember like any other business, there are people who depend on banks for their jobs, I am one of these people. No I do not work for the big banks like Bank of America, but my bank must endure all new legislation that resulted because of the misconduct of the few. As an employee and as a bank customer I get to see both sides, please remember many banks offer many services without charge, fees and interest income is what generates the revenue to pay wages.As with any business that rely on human employees, mistakes happen, how these errors are resolved is what is important. I venture that most local banks are honest. My company requires charity work and community investment by its employees. Not defending bank of america, I am not a big fan of them either. Also credit unions are a nice alternative but they are a bank competitors and are not required to follow all of the same regulations. Like with all aspects of life, you always have the good and the bad, unfortunately it is the few bad that hurt the reputation of the many.

 

[Robinrs]

one thing, do not lump all banks in one category. Even more so remember like any other business, there are people who depend on banks for their jobs, I am one of these people. No I do not work for the big banks like Bank of America, but my bank must endure all new legislation that resulted because of the misconduct of the few. As an employee and as a bank customer I get to see both sides, please remember many banks offer many services without charge, fees and interest income is what generates the revenue to pay wages.As with any business that rely on human employees, mistakes happen, how these errors are resolved is what is important. I venture that most local banks are honest. My company requires charity work and community investment by its employees. Not defending bank of america, I am not a big fan of them either. Also credit unions are a nice alternative but they are a bank competitors and are not required to follow all of the same regulations. Like with all aspects of life, you always have the good and the bad, unfortunately it is the few bad that hurt the reputation of the many.

Understood.. heck I work for the media and how many names are WE called?

BTW my sister works for the IRS, believe me we know what it's like to work for companies people love to hate. That doesn't excuse the fact that they think they can pull a fast one to stay in business.

 

[Tink-aholic]

In defense of BofA, I am going to be opening a checking account with them this week. They sent me a deal in the mail that I. CANNOT. PASS. UP. I currently have accounts with several other banks and will close this account as soon as the terms are up in order to get the promotion if they start charging me fees.

 

[Robinrs]

In defense of BofA, I am going to be opening a checking account with them this week. They sent me a deal in the mail that I. CANNOT. PASS. UP. I currently have accounts with several other banks and will close this account as soon as the terms are up in order to get the promotion if they start charging me fees.

Enjoy. I've been with BoA since 1987, been thru about 4 name changes and probably had to talk to every single customer service person in the company. You would think they'd know not to mess with me by now!

 

[bumbershoot]

They said it's a mistake, so I figure they are refunding your account? Well that's cool.

I looked uo fees on their checking accounts in GA, and the only one I saw that is 12 is an ebanking account.

And even with that there are no fees if you do both of these:

Make all withdrawals and deposits online or at an ATM without a teller
Sign up for paperless statements



Since there are no checking accounts with those fees and they are refunding you...I personally would believe them.

 

[Swimalie]

Make all withdrawals and deposits online or at an ATM without a teller
Sign up for paperless statements

A lot of people talk about paperless bank statements but I'm curious for those who do them, how do you guarantee that you've kept them for 7 years for future audit purposes if they are electronic when most people don't keep a computer for 7 years? Do you print them off? If so, why not have the bank print them off for you instead? Do you put them on a back-up and pray it doesn't crash before the 7 years are up?

 

[meriface11]

Make all withdrawals and deposits online or at an ATM without a teller
Sign up for paperless statements

A lot of people talk about paperless bank statements but I'm curious for those who do them, how do you guarantee that you've kept them for 7 years for future audit purposes if they are electronic when most people don't keep a computer for 7 years? Do you print them off? If so, why not have the bank print them off for you instead? Do you put them on a back-up and pray it doesn't crash before the 7 years are up?

It's more cost effective for the bank to have you print your own statements...no paper, printing, administrative and mailing costs for them. if you are the kind of person who would have saved the statements they mailed you for 7 years, you can can always print them on your own and then save them.

personally, I don't keep all of my banking statements for years...just the ones that are connected to my tax filings. I keep copies of the checks for things things that I deduct (like charitable contributions, property taxes) in a file with w2s and the like. If i ever get audited, I don't think monthly statements matter, since you don't report any of that information when you file.

 

[DawnM]

We had a credit union when we lived in CA. For the past 6.5 years, since we moved to NC, we have had BofA.

3 times I have gotten $3 fees and each time they have credited it back to me. Apparently now you can only withdraw 3 times total from your savings account or you get a $3 fee tacked on. The first time I didn't know so they removed it. The second time it was a mistake on their part (I had asked for the $$ to be removed from my money market account not savings.) The third time my itunes got hacked and it was linked to Paypal, which was linked to my savings account.

So, I do know there can be issues with any bank, but we haven't had any issues with BofA so far.

Dawn

 

[NYCDiane]

Sounds like the issue was Paypal, not your credit union.

No, the credit unionj charged him the $39 fees. What they should have done was to call him and notify him of the problem.

 

[mrsklamc]

I think it's pretty standard for a bank to charge you a fee and not notify you if you overdraft yourself.

 

[MrsPete]

For what reason did they charge this fee?

I just checked my BOA checking account, and I have no new fees; thus, it's not something they're handing out to everyone.