venting BofA and Citi bank :(

[dreamin_disney]

Dh just told me that Bofa might start charging a fee for those who have direct deposit. Has anyone heard this? I've been with them since 1988. I have direct deposit and will be bummed if they start charging a fee.

Today i got a notice from citi bank saying that my 15.99% rate will go up to 20.99% in Dec 09. I think they just raised it earlier this year- it was at 9.99%.
I pay on time and have good credit but you know the game. Anyways Thank goodness i only have $400 left on it but BOFA is taking forever for my direct deposit to go through-uugh!

Oh BTW- there is one way citi will lower my rate to 12.99%, I just need to do a balance transfer of $5,000-----whatever!!!!

 

[all4themouse]

Cash is KING!!!

 

[travelgirl06]

Citi did this to me too and I am P.O.'d! I have an excellent credit score, always pay early and in full and they raise my interest to 24.99%...are they serious?? I called and tried to negotiate to no avail, I could ask for a manager, but it's not worth the time. I will just use the credit card extremely minimally and get a new card elsewhere (I do want to keep the credit history and the high limit to keep my credit utilization ratios nice)

 

[dreamin_disney]

Citi did this to me too and I am P.O.'d! I have an excellent credit score, always pay early and in full and they raise my interest to 24.99%...are they serious?? I called and tried to negotiate to no avail, I could ask for a manager, but it's not worth the time. I will just use the credit card extremely minimally and get a new card elsewhere (I do want to keep the credit history and the high limit to keep my credit utilization ratios nice)

after mine is paid then I'll only use it to keep my credit going or whatever card offers me something good. Citi bank i earn 1% cash back on purchases and 3% on gas, groceries and something else . I'm sure that will end too.
Disney i'm currently using for the 5X on any purchase of 100.00 but i pay that off right away.

i feel bad for those with high balances like my husband but i think that will lite a fire under his butt because he's been slacking and has the $$

 

[gk90]

BA fee for direct deposit? Aaargh! I googled it and didn't come up with anything but I have to say that with all the nickel-and-dime charges going on at banks these days I wouldn't be surprised. If it happens I'll look into closing the account and going over to the credit union. DH and I both get direct deposit and are so happy not to have to take paychecks to the bank

 

[Stacerita]

I will be PO'd if they start having a fee for direct deposit. I have been doing this for years and for them to charge now will irk me. Not to mention that my company will be making everyone go to direct deposit in the near future to be more green and cut costs.

 

[dreamin_disney]

dh read it in the local paper so we shall see . I think 2010 will be a year of fees

 

[dreamin_disney]

an another thing, My paycheck gets deposited on the 15th and the last day of the month.if it lands on a saturday people can pick up there paper check on Friday afternoon or if its on a sunday then sometimes on friday or wait until monday, well if its direct deposited then it goes in on the correct day well bofa keeps showing pending on mine and it's now the
16th @ 11:07pm

 

[Holidaymouse]

an another thing, My paycheck gets deposited on the 15th and the last day of the month.if it lands on a saturday people can pick up there paper check on Friday afternoon or if its on a sunday then sometimes on friday or wait until monday, well if its direct deposited then it goes in on the correct day well bofa keeps showing pending on mine and it's now the
16th @ 11:07pm

Disney,

Speak to the branch manager and ask them to run a trace on your direct deposit. it may be that you need to re-establish the link with your payroll provider. A direct deposit is an electronic push of funds and should only be pending for 24 hours at the most. If you are pending past your pay period then the linkage is incorrect and your funds are posting to a no-post account and the system is trying to detect where the funds are..I suspect the payroll service has keyed your routing number incorrectly.

 

[dreamin_disney]

Disney,

Speak to the branch manager and ask them to run a trace on your direct deposit. it may be that you need to re-establish the link with your payroll provider. A direct deposit is an electronic push of funds and should only be pending for 24 hours at the most. If you are pending past your pay period then the linkage is incorrect and your funds are posting to a no-post account and the system is trying to detect where the funds are..I suspect the payroll service has keyed your routing number incorrectly.

Thanks for the info. I will have to check it out . I've had direct deposit for the last few years. Another weird thing is i paid my citi bank acct online on Saturday and it still hasnt shown up. WOnder if they are backed up due to veterans day holiday.

 

[SmileWoman]

I work for Bank of America and I have not heard anything about a fee for direct deposit. We encourage direct deposit and is it is much cheaper for the bank to process than other forms of deposit.

 

[JB2K]

Dh just told me that Bofa might start charging a fee for those who have direct deposit. Has anyone heard this? I've been with them since 1988. I have direct deposit and will be bummed if they start charging a fee

Haven't heard that one, but wouldn't be at all surprised, given BofA's role in the events over the past year.

When we do Direct Deposit, we are doing these banks (both big and small) a huge favor, as they don't have to expend their resources in processing paper checks -- to charge a fee for this would be sinply outrageous!

 

[dreamin_disney]

an another thing, My paycheck gets deposited on the 15th and the last day of the month.if it lands on a saturday people can pick up there paper check on Friday afternoon or if its on a sunday then sometimes on friday or wait until monday, well if its direct deposited then it goes in on the correct day well bofa keeps showing pending on mine and it's now the
16th @ 11:07pm

Nov. 17 7:56am my deposit has now cleared.

 

[Chicago526]

I bank with Chase and my payroll direct deposit shows pending for 24 hours only...BUT...the funds are available for withdraw right away, even though it shows as pending. I've never asked, but I assume they allow it because it's payroll, and not very likely to "bounce" the way other deposits might.

 

[GoldieSaysMeep]

BoA is awful.

I have a fixed rate 23,000 line of credit with them which I used to consolidate a bunch of other stuff a few years ago, never missed a payment on it (or anything else for that matter), credit score in the 750's, and wouldn't you know, they decided that next year they are switching it to a variable rate. Um... I signed up for a FIXED RATE idiots. There are numerous web sites where people are complaining that the same thing happened to them with this same loan. They also decided that they will be raising the minimum payments from $500 to $1000... that is a pretty drastic leap. A

s an example, my rent is $400 so there goes my rent money!

No one on these sites seems to have the original MBNA paperwork (myself included) and when you request it from BoA, they just send you THEIR BOA paperwork, not signed by the customer.

I've even spoken to the VP of customer relations at BoA. Nothing.

I agree. Cash is king. I made a $7000 payment this month cutting my remaining balance in half. I'm sure they'll lower my credit line now, making my utilization look awful. Whatever. I'm hoping to get a balance transfer and never do business with BoA again. They are the slimiest of the slime.

 

[SandrA9810]

I love the credit union... well sometimes, when they're not screwing me over.

We use direct deposit, and if I was to put a check in the bank, it's available immediatly, even at the ATM. I don't have to wait for it to clear, and nothing is ever pending. Now if it's a check from some one that I'm unsure of their financial state, I will wait a week before using the money. But if it's from my g'mother or aunt, I'll use it right away.