Bank of America Unfair Practices
Complaint
Rick
Country: United States
Online Banking for over 5 years. Over this period, I've made very few mistakes. BofA has made a few adjustments to their website and as a result, I was not readily able to see if I had already made a mortgage payment. To complicate things, my internet went down in the middle of a transaction and it appeared that the transaction never took place.
As a result, my mortgage was paid twice overdrawing my account along with a few more transactions. I was charged over $100 for this. The punishment clearly does not fit the crime. I am not simply disputing this charge, I'm disgusted by the fact that I've been a loyal patron for nearly 15 years, I never visit the bank for fear of charges.
I do all of my transactions outside the bank, all by myself while my $30,000 is in their possession, while they're making investments on MY money, they turn around and charge me over, and over, and over again. I am tired of this. Although I understand that not much can be done to recover my overdraft charge, I am disgusted.
When I went to dispute the charges (I am not confrontational, I have never had a confrontation with B of A staff), staff was apathetic and when I emailed my dispute to BofA, they gave me a BLANKET EMAIL stating that they were within their right to charge me. Of course they are within their right.
This is not about walking the fine line with rules and policies. It's about knowing my story. I am a 32-yr old married man with a wife and a 7-month old kid. I am out of a job right now. Any bit of help is greatly appreciated. This is what I dispute: apathetically crushing the little man despite knowing my story. I told them this story.
They know this story. Again, they were within their right, but it's sad to know that apathy exists even at the depths of this degree of pettiness. I hope there are some grounds for complaint.
As a result, my mortgage was paid twice overdrawing my account along with a few more transactions. I was charged over $100 for this. The punishment clearly does not fit the crime. I am not simply disputing this charge, I'm disgusted by the fact that I've been a loyal patron for nearly 15 years, I never visit the bank for fear of charges.
I do all of my transactions outside the bank, all by myself while my $30,000 is in their possession, while they're making investments on MY money, they turn around and charge me over, and over, and over again. I am tired of this. Although I understand that not much can be done to recover my overdraft charge, I am disgusted.
When I went to dispute the charges (I am not confrontational, I have never had a confrontation with B of A staff), staff was apathetic and when I emailed my dispute to BofA, they gave me a BLANKET EMAIL stating that they were within their right to charge me. Of course they are within their right.
This is not about walking the fine line with rules and policies. It's about knowing my story. I am a 32-yr old married man with a wife and a 7-month old kid. I am out of a job right now. Any bit of help is greatly appreciated. This is what I dispute: apathetically crushing the little man despite knowing my story. I told them this story.
They know this story. Again, they were within their right, but it's sad to know that apathy exists even at the depths of this degree of pettiness. I hope there are some grounds for complaint.
Comments
Immediately I called and verified that the rate increase would not affect my finance rate on my balance transfer and was assured that it would not and that the new rate would be for purchase only or any new balance transfers. 3 - 4 months later - Bank of America increased my APR on my balance that I had transfered from 7.99% to 21.99%.
When I called, they told me that I never had a rate good for the life of the balance transfer, that my rate was strictly a promotional rate. I argued the point and explained that I even called when I received the notice and was assured that my rate would not increase, only to be told that I was mistaken. I asked why my rate was going up so high when I always pay my bill early and always above the minimum payment.
I was told that I was a high risk because my debt to income ratio was high and I was not makeing very aggressive payments. I told them that I always paid more than the minimum. They said it was not aggressive enough. I also explained that I was in the process of buying of house and had enough to pay off the balance in the bank but was not touching that money until I settled on the house. He told me there was nothing he could do.
I asked to speak to his manager and was told - he had the final decision making capability and refused to let me speak to anyone else. This company lied in their advertisements to get people to transfer balances and then raise the interest rates with no recourse for the consumer