@@NicholasLittlejohn I was aware of our reputation before this video but working for BoA is actually not that bad at all. Great pay and great benefits. They take care of you and are flexible if you have COVID or if your Center is shut down because of it. Little stressful right now because of COVID and lots of people on unemployment but makes me even more appreciative of my job. I’ve heard great things about credit unions and wouldn’t mind joining if the right opportunity comes along.
**account at $2.13** BoA: oh you’re below the minimum requirement on your account, so you’ll now incur a $35 fee. Oh you’re now negative on your account because of our fee? You’ll now incur a $35 overdraft fee. But thanks for choosing Bank of America :)
@@shyguy_4 Some low-monthly-fee accounts have a minimum account balance to prevent a low-account-balance fee that, if it throws your account into overdraft, may incur an overdraft fee and can also incur an NFS fee for the initial fee.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I held a vice president title with Bank of America. I was a branch manager. I left in 2009 due to a health issue, but I can tell you all this: as bad as the company treats it's customers, which is quite bad, they treat their employees much, much worse.
@manleybadger8311 . . . I believe it. My late dad worked for 10 years at a B of A branch in California, but this item of World War II came along and he was drafted in the US Army and was discharged from his military service in 1946. Upon his return to civilian life, his old job was waiting for him, *at starting pay!* That made him furious and walked away from it. But, I suspect there were extenuating circumstances of that low-ball compensation package. My dad had some [ahem!] _issues_ when it came to being sociable, where the staff at that B of A branch didn't want him to come back; hence, make him an offer he'd refuse.
I told Wells Fargo I was leaving them for their terrible customer service and charging me bogus fees for 10 years, that I was going to Bank of America. They laughed. I didn’t realize that BoA was even worse.
I hated BoA when I had them for a short time -- they apparently charged fees onto my account even after it was closed, which caused a bit of a headache later on. I ended up opening an account with Regions, which I was very happy with but had to close when I moved out west. After having a terrible time trying to open an account with Chase, I ended up giving up and opening one with Wells Fargo, and I have to say, all their scandals aside, I've been surprisingly really happy with my experience.
I appreciate when Company Man makes these "Why They're Hated" videos, he doesn't oversell it or exaggerate he just reports information without piling on to it.
My dad worked at BoA for 15 years, he was approaching the amount of years needed for a pension so one day they just said he stole money from them and fired him so they wouldn't have to pay out the pension, we were a middle class family, my dad had no reason to steal. He's worked for Apple ever since and loves it
This bank made me hate them even more when they decided to just shut down my account for no apparent reason, and when I went to the bank to get help the lady just flat out ignored me.
I remember a few years ago. Bank of America tried to foreclose a home they did not own. The owners sued the bank and won. That bank later closed in that town. lol
I needed a cashier’s check to pay for my work authorization application in the US. I went to BofA and paid $15 to get the cashier’s check. After I went home, I realized that the teller forgot to sign the check. Can you imagine a bank forget to sign a cashier’s check? I could have lost my legal status here in the US because of their stupid mistake.
I went to BOA for a home equity line of credit. I was approved and ready to go, but then it came... they wanted me to get flood insurance for my house. My house is not in the flood zone and in fact, it sits on top of a hill. But they insisted. I said, ciao! Went to the credit union and got what I wanted without flood insurance.
Had a BOA account once .. went to close it. They told me there was a $35 fee to close my own checking account. I complained and the Bank MGR told me she would waive it. When I cashed out, I noticed the $35 was taken out. The same Bank MGR in a snarky voice told me, “oh I’m sorry I can only waive the fee for CURRENT customers which is not you.” I will NEVER EVER give them another dime.
I almost forgot - They charged me a fee as well to close it, THEN they didn’t do the math right and gave me a dime over. So they mailed me a NSF charge along with another fee. When I explained that the teller did that, they kept insisting I owed them money. It was a HOT MESS. So glad I left them.
I had a very hard time closing my account with Citibank, a business account. The reason is that banks like to hold onto their accounts since it generates fees and it takes 7 years to break even. So BofA is not unique in this racket. Recall the Wells Fargo scandal too, bank managers get rated on how many accounts they have.
I remember hearing they would post debits and credits in certain orders so as to rack up the overdrafts... like big charge first, clears you out, bunch of small charges, overdraft for each, then your check comes in and you got like $5.00 left over after. Lol... think there was a class action lawsuit years later over something like that but not sure.
They did that to me. Their policy was to process withdrawals before deposits. I deposited in an ATM on a Friday night, and got NSF charges for everything I spend the rest of the weekend. There aren't many companies I hate more than BoA.
BOA foreclosed many homes back in the recession, including our home.. I remember my parents going to a convention in Los Angeles that helped homeowners fight for their homes and the reps from BOA never showed.. We lost our home soon after. To this day it still hurts. I know my parents haven’t recovered from that hurtful loss. Especially as immigrants coming to America for that “American Dream” of owning a home.
My grandfather lost 3 houses due to wrongful foreclosures. We spent 10 years and tens of thousands of money on a lawsuit and lost. I completely understand your pain.
I closed first when change. I think it’s $15 for a month. You can’t have less than $5-10k I don’t know or get fee. Basically don’t want poor cause so big.
They lost me as a customer when I worked for a staffing agency that didn't offer direct deposit. I was running $2,000 through the account every month, but since it wasn't direct deposited they charged me a monthly fee. I went to a credit union, and never looked back.
I went to BofA last week to process a wire transfer. I was told that it couldn't be done for 3 days, as they had no banker appointments available and tellers can't do this. I went to Chase and had it done immediately...by a teller. Imagine that!
They told my mom, who was dying of cancer at the time, that when she died they would immediately foreclose on her home and they said it in the meanest, nastiest way possible. Well, we had an out for that, but now in any setting I write where I can Bank of America goes out of business in the worst way I can possibly imagine.
So once upon a time, I opened a BoA account in Georgia. When I moved to California, I learned they didn't treat the accounts the same. I could put in a cash deposit in my account in California, and it would take 3 days to show up in my account. BoA suggested I close my account, and open a new one. So I did that, I opened an account at a great Credit Union in the area. I think they meant for me to open a new account with them, but if they couldn't handle accounts between states, I had no interest in using them.
That specific issue goes to old regulations of interstate banking that didn't allow banks to cross state lines. So you had separate banks of the same name owned by the same company legally required to be operated separately. IIRC, the regulation still exists but now allows for more integration into a parent bank. You may notice the N.A. (not affiliated) designation on your checks, if you still use them.
@@SimonTekConley even today in (2021) acquired banks have to be operated separately. Your Georgia account was likely a Nations Bank account and the California was a BofA account which operate in 2 different federal reserve branches. Separate banks owned by the same bank holding company. The Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (Interstate Act) allows banks to branch across state lines. Section 109 of the act, however, prohibits a bank from establishing or acquiring a branch or branches outside its home state, pursuant to the act, primarily for the purpose of deposit production. Not something that a general consumer should want to know. I remember when ATM networks didn't operate in more than a few states. If your ATM card was issued by a bank on the MOST® network, you couldn't withdrawal money from an ATM on the Cirrus® network.
@@Drknnja ahh. Strange though, I currently live a different region of the country, and bank with a different bank, a regional one. I've never had issues depositing money into the account while if another state with this account.
I had 2 BoA credit cards. One was closed. The other they reduced the limit from 25k to $1000. No warning. No letters. Nothing. I was never late paying any of them. Needless to say I'm no longer a customer.
As someone who got his education in finance, I can tell you from the inside BoA was not allowed at our job fairs. JPMorgan? Sure. Goldman Sachs? Welcome! But BoA was known for not being good to our grads so they were blacklisted.
Agree 😡 They kicked me out & closed my account, I call ask but never got the answer,they said can’t tell & give me the reasons. I have no money to pay bills and mortgage, it took them 4 or 5 days to get mine check in the mail. By the way I have good credit 850, hardly missed any payment. Now I’m with Chase and happy, everyone there nice 👍
About 20 years ago, I worked as a waiter in Los Angeles. The restaurant was very short staffed so I was working double shifts about 5 days a week. On my day off, I went to my bank (B of A) to deposit the large amount of cash tips I had accumulated. The bank teller enforced me that I had been overdrawn for over a week, although hadn’t received any notice about this. This was only the second time in 3 years that I was overdrawn. Since my income primarily came from my cash tips, I was paying all my bills this way and rarely used my bank. The bank manager came out, took the payment that I had been overdrawn and then told me coldly that they were going to close my account and send me to check system for the next 7 years. They could care less about the individuals who are their customers, it’s all about corporations. Horrible bank, the worst.
They were always trying to nickel and dime. They sent out a letter to me saying that after a certain date, if I wanted to continue to have free checking needed to have a combined balance of $10,000. I went across the street to another bank.
We had an argument with their associate at the branch because we did not have an appointment to close our safe deposit box so when we asked why? She kept telling us that we have to without providing any explanation. We kept asking and she kept raising her voice and kicking us out. At that time we just thought we will go to another branch to get our safe closed. Without knowing that this person complained about our visit to their cooperation, within a week BOA closed our accounts without informing us first, we found out when we tried to pay for the grocery because the card was declined. So be warn if you have a bad feeling about their services, close your account and go somewhere else.
I was an intern there just when I turned 21. They treated me like shit and didn’t care about my mental health when I worked at the call-center I still bank with them but that’s only because I don’t have the energy to go through and change banks, I hate it there.
All companies have started with good intentions as they grew up in a generation with higher moral values and standards. Fast forward to today as those older people pass on and the younger generation that grow up in a morally declining society take the company and steer it to greed snd self serving.
@@autonomousglisteningwater2286 that's what happens when you hand the reins over to entitled boomers and greedy Gen Xers who came of age at the height of 80s hedonism, who run the companies today.
It's always the same: we make something to help people, Americans wipe out our history, painting a totally American background and start turning the company to a making-money machine just for their profit. Isn't that the only word that matters in America? Profits? I have to ask Americans if human lives are profitable. Their answer will be spectacular awkward. 😑
you walk in and see the bank manager and loan officers sitting at their desks while there is only 1 teller at front and a line of customers all the way outside the door
I spent my career in Banking/Finance, and unfortunately, this was true too often. The Manager and Loan Officers, and Assistant Manager wouldn’t be there to hear the customers complain about the line. They were in charge of scheduling, and would always under schedule. Nothing is worse than being a Teller and seeing a line out the door. Or slaving away to meet a Loans funded amount and then they RAISE the goal. Surviving a downsizing AND a merger, only to find out that you thought you were working hard before, you are really working hard to replace all those people just laid off.
Loaning money to risky people was a result of government deregulation. The law was called the 'Community reinvestment act' where the government put pressure on the banks to loosen their standards and loan money to people who had no business buying a house. Unfortunately smaller banks are held to a tighter standard and don't get away with as much as the large banks when the regulators and mutilators come in.
My first bank was Nank of America. They allowed my mom to create my bank account, she used it, then hired creditors to go after me after a year in the military for charges I never made.
About 25 years ago, BofA managed to empty my account through a teller error, totally unbeknownst to me. It took them a month to get my money back, and that was after I had to threaten them with legal action. So yeah, I hate 'em.
I remember back around 2010 my parents signed up for this store membership that Bank of America was handling. One day they got a bill in the mail for over $10,000. As it turns out, my parent’s identity was stolen, and the thieves went on a massive spending spree. And the Bank, for some reason, decided not to do anything about and expected my parents to pay without question. When my parents questioned them why didn’t they tell them, the Bank responded “you did not give us permission to tell you that your identity is stolen”. Parents disputed every purchase that wasn’t theirs and canceled the membership.
I’ve had BOA since I first had an account and I like it. I still have it. Their are some annoying stuff like fees but that’s with any bank and no bank is gonna be perfect.
I closed my checking with them a few years ago. Went in person to the bank, closed it and transferred all my money out to another bank. Soon after I get a notification that I got charged a fee for being under $35 then I got charged again because it went into the negatives. Had to call them to remove the fees and finally close the account. Cause I guess the first time didn’t count.
that actually happened with me with US Bank i went down to close my account and kept getting emails and letters that were basically ads I called and confirmed my account was closed and opted out of any further advertisements it stopped for a few months but started up again a year later and when i called again they said my account was still open and never closed
I just had the worst experience at BofA or any business really. My wife and I were trying to open an account and it ended with the branch manager getting angry with us and kicking is out before we can finish so he could get to another appointment. He was so rude my left wife in tears. When I asked for his name or business card, he refused and asked me to leave again. So I complied and started walking out and he proceeded to insult me as I left. Real professionals over there.
The only fee I've ever gotten from Bank of America was when I dropped below $100 in an account used to happen often as a kid. Then I had it again last week the fee took me below the $100 its like they charged it preemptively. Then an over draft. The troubling thing is I can go all over the country and not get that ding for possible fraud or stolen card purchases, but if I go to the next town over and get taco bell boom we think there is fraud happening
When I hear Bank of America I think of bad customer service and bad customer support. Instead of helping me they argued with me refuse to help me I had to drop them trash ass bank
Since they had trillions in assets why did they or their number ever receive bailouts? Politics, that's why. The rest of us have to sell assets to balance budgets.
To be honest I have information into your question. BofA never wanted to take the 45 billion bailout money because they didn't need it. Taking it was forced upon them by the government and they paid it back as soon as the government allowed them to with interest. There were no payments made over time to payoff the bailout money, just one check written and done. BofA was well positioned for the 2008 recession as I a shareholder was informed.
@@keithwalker5696 indeed. Unfortunately a lot of other people didn't have the ability to pay back anything. The system looks out for itself regardless even if those parties involved were responsible after the fact.
As Kenneth Walker said, the federal reserve did not want the public to know who needed the loans so they compelled all of the majors to take loans.that way, there would be no runs on the weaker banks. That’s how the story goes anyway.
i havent even personally dealt with boa, but i remember hearing my parents constantly complaining about them and spending a lot of time in the lobbies of the banks. i personally was indifferent as a child bc they gave me lolipops every time we visited
I've had BoA for over 15 years now, I've had zero issues with them and been very pleased with my local branch. I hear Wells Fargo is the nightmare bank to deal with. Seems like most people's issues are just bring broke and getting hit with overdraft fees.
Damn I mean I'm young and have only been a customer for about b3 years but they've been good to me so far. When I went to go first open an account with my immigrant mom at the age of 17, the guy who helped was very friendly, when fraud was attempted the actions were caught quickly, when I needed a replacement card and an address change calling them was quick and easy, I do like how their app is integrated as well. I've only had good experiences so far.
My only gripe with BOA, is that in my area they have closed down brachoffices and installed debit machines, while pushing an online banking agenda, which because of the rampant internet fraud which goes on, I refuse to risk my finances on. And frankly, customer service when I do business at a branch office could be improved. Vastly.
I remember opening an account when I was 12 with $25. Then they started charging me a $2 monthly fee. That was back in the late 80s and it still irritates me today.
My very first and only experience with BOA was getting screwed over. I deposited my paycheck into the ATM just like i did with my old bank. They wanted to hold it for a week. I had bills that ended up late because of this. I tried to get my money released that day by bringing my pay stub to the branch and told them how extremely inconvenient this was. Her response was "well, I'm sorry you see it that way." I left before I let my self throw a chair at someone. Never again.
I was a Countrywide Mortgage Banker (not subprime) and left shortly before the acquisition. “Bank-O” (as I call them) did not voluntarily purchase Countrywide. Hank Paulson approached them and said that we could not let the largest mortgage lender in the country go down the tubes, it would create financial chaos. About the same thing that he told Bank-O when they purchased Meryl Lynch. Bank of America was given a waiver on the amount of personal savings they were allowed to hold as the percentage of the total American savings. I don’t remember the exact verbiage but they were given another two or 3% that they were allowed to hold. Had something to do with a federal law, I was a mortgage banker not a money banker LOL
Former employee here and I can definitely attest to this fact. A few reasons is because they don't care about their customers. They will literally close down branches with high traffic volume if they don't meet their sales. Nothing else matters. Great surveys, good feedback, great customer service, NOTHING. If it doesn't relate to them opening an account(s), credit card(s), auto loans, mortgage, app, they couldn't care less. They literally trained me to not apologize to anything because "it admits fault" not even joking, my corporate trainer from NY told me that
I believe you and it sounds about right regarding their lack of customer care. They'll NEVER steal any more of my money ever again. Worst bank I've ever had the misfortune of doing business with.
Yeah they closed the only branch I could walk to and had the only ATM that always worked, now I either have to drive a couple miles or hope the shitty ATMs are actually working
@@Karmy. doesn't surprise me. They close down branches even if they hit 75% off their goals. If you opened 100 accounts in Q1 of last year and "only" opened 80 accounts the next year, they consider that a bad drop-off, you sit down in a meeting, and they ask you all types of questions about how you failed
There was an old Washington Mutual TV ad, which had this bank teller guy charge a customer for his outbursts, which had several verbs and pronouns in it.
I had an account with BofA back in the 1980's for about 10 years..the main reason i chose them at the time was they were the only bank that would allow me deposit my check through the ATM and immediately withdraw 50% of the check..secondary reason was the number of branches at least west of the Mississippi... When their fees went out of control i bailed out..
I personally like Bank of America. I’ve been with them over 12 1/2 years and haven’t had any issues with them. Customer service has always been a great experience ever since opening my account. I understand not everyone has had a great experience with BofA and that is why some don’t like BofA.
I hate them for the mergers. I've watched as most of the banks in my area were gradually bought by BofA and eventually they bought my bank. I dislike that so much of their growth has been about mergers and acquisitions rather than actually being a good bank.
I fell the same way about T Mobile taken over Sprint. I’m not a T Mobile fan. They had the nerve of raising my phone bill by $10 dollars with all these fees. They said they would not raise my phone bill, but they increased the fees. Oh and by the way, I have no problem with BofA. I have been a customer for 15 years. It might change in the future, but not now. I just wanted to complain about T Mobile. I miss Sprint.
I work in the industry as a competitor of BofA. BofA’s nickname is the bank that keeps on giving (as in always giving away their clients bc of terrible service).
I must be in the tiny minority because I’ve been a Bank of America customer for 22 years and I’ve never gotten a fee that they haven’t removed and I’ve never had to wait more than 5 minutes to be connected to someone while calling through their app. I really like Bank of America.
Personally, I've had my checking accounts and credit cards with them for 14 years now:, good debit account system, a Customer service has always been polite and prompt (they're allowed to give you a Grace credit one a calendar year, long as its under $50..late fee, teller fee, etc. But you got to call in and politely complain). I've also been a shareholder for a few years now seem to be on a positive growth track.
I have been depositor from long before. I organized banked with the Fourth National Bank when it was bought by Nations. I was a OTR truck driver. They were one of the few banks that I could deposit or withdraw anywhere in the US. Have always been treated fairly.
I was laid off from BofA a couple years ago. Best thing that ever happened to me! I discovered tons of other jobs out here in Orange County, California. They Pay twice as much, no micro-managing, and no Nazi managers controlling my every move! Thank you God!
I 100% recommended a credit union. My local credit union is awesome and there’s no account fees or any dumb stuff like that. I can’t believe ppl actually pay for fees
Agreed. The best way to stick it to the big banks is to take your money elsewhere. I've noticed some credit unions are starting to form networks, which helps alleviate the problem of the big banks nicking you for ATM fees when you're traveling.
I will never use a bank. Credit Unions have better fee's and rates, don't charge weird penalty fees just to generate revenue for their investors, and are owned by the members. They're there to serve their community, not a large collection of miscellaneous investors.
My credit union had overdraft fees back in the late 2000's, so it used to be no different than Bank of America. Happy to say they've changed their ways since, and now they're amazing.
I quit working with boa 3 months ago. One of the last things I was told by a district manager, was that if a customer is complaining and they have low balance in account, you're pretty much allowed to closed accounts. Unless you had more then 20k in your accounts the bank does even consider you as a value customer.
I'm a former BofA customer. We had several problems with them in regards to overdrafts. They pushed their "deposit protection" where if there is an overdraw they link the accounts so that you can always use the debit card. This was on me for not paying as good of attention to the account but to charge $100 for one $5 overdraw because of the overdrawn account in conjunction to the linking of the accounts and the negative balance charge. They also reported a move to the credit bureau because I was living with my parents and they assumed that I moved with them. I moved out to live with my wife and had a verified legal address. I tried to get it straightened out because if my dad wanted to he could take out the credit cards because they were sent to his house. They said that I would have to reopen the account. I will never go back! I'm currently with a small credit union and have never had any issues!
Great video, well, I still view cryptocurrency as one of the best digital investments and I totally love the system and technology when it comes to the biggest crypto asset, Bitcoin. As a trader, I could understand that there are two sides to crypto, everyone has their opinion when it comes to choosing which side to choose, although I'm not against Hodl, but I see it as an old and strange strategy to win Making the market as if it is getting bearish Investors / traders their investment is always painful, which is why I see day trading as a main source of profit from the crypto sector or trade warnings copied from a professional trader like MR Elvis Smore, whose trades are very accurate and I was able to massively increase my profits from 0.4 BTC to 4.5 Btc in just 3 weeks with its signals. Elvis Smore runs a program for wealthy elites on how cryptocurrency trading works, helping them capitalize on the volatility of the cryptocurrency market and get more profits from the market. He can be contacted by email: elvissmore1@gmail.com More instructions message him now
You have to get direct deposit to avoid the fees of their basic accounts, or did when I worked there. If you lose your job, they IMMEDIATELY start nickel and diming you to death. I have no clue why people use them. Or Wells Fargo.
literally every bank does that now, only ones I have found that don't are credit unions and capital one, which doesn't have brick and mortar locations you can just walk into.
Seriously, I got bitchy with customer service about that and the guy couldn’t explain it to me (he wasn’t just some worker fielding cs calls, he worked in the bank/with boa)
My mortgage was sold to boa years ago.Tried everything they could to foreclose.Charged me $15.00 fee every time I called in to make a payment. Didn't realize so many others hated boa. I belong to a wonderful credit union now.
Idk, ive been woith BofA for 4 years and counting. They dont have any attractive benefits that i know of. But they do have excellent custome service and ive never had any issue with them. Its not much, but thats how i love my banks: quiet and subtle in the background.🙂
This video is so timely, I was going to open a bank account in Bank of America but something went wrong and the customer service agent opened the account for me in a very weird way and not in the way I intended to so I just ended up closing it and choosing a different bank lol
When I was 18, I got a job at a call center which outsourced BOA customer service to people who got little training for $8/hr during the recession. The amount of fees, theft, etc was ridiculous.
Was BOA and Chase customer 2000-2010. Worked various jobs and in between jobs. Hard time with overdrafts during difficult time. Barely ever got overdraft refunds on my monthly bills auto autopsy. Was constantly charged late fees on loans and credit card I payed every month. They were not lenient on extensions or refunds. Moved all my banking to Credit Union in 2010 no regrets. Easy overdraft refunds,!especially on my monthly bill autopay. Easy loan extensions. I’m thankful for credit unions while I got myself back on my feet. Now I’m in a much better financial situation, and I owe credit union a big thanks for helping me during my times of need. All my businesses banking exclusively with credit unions now.
Great video, well, I still view cryptocurrency as one of the best digital investments and I totally love the system and technology when it comes to the biggest crypto asset, Bitcoin. As a trader, I could understand that there are two sides to crypto, everyone has their opinion when it comes to choosing which side to choose, although I'm not against Hodl, but I see it as an old and strange strategy to win Making the market as if it is getting bearish Investors / traders their investment is always painful, which is why I see day trading as a main source of profit from the crypto sector or trade warnings copied from a professional trader like MR Elvis Smore, whose trades are very accurate and I was able to massively increase my profits from 0.4 BTC to 4.5 Btc in just 3 weeks with its signals. Elvis Smore runs a program for wealthy elites on how cryptocurrency trading works, helping them capitalize on the volatility of the cryptocurrency market and get more profits from the market. He can be contacted by email: elvissmore1@gmail.com More instructions message to him now
BoA ended up owning a number of foreclosed homes in my neighborhood in the wake of the 2008 subprime thing. They sat unsold for years, with some even still unsold to this day (in a pretty damn sorry condition at this point). BoA also had a habit of simply not cashing my Sister in Law's parents mortgage checks, and trying to hold them responsible.
Hmm yes some gaming company that makes games with microtransactions and killed a few game studios is a bigger evil than the biggest banking company in America that proves to screw over millions of people
That's because the website that does that poll is relatively unknown and it was spammed across forums like reddit and 4chan to vote for EA, it doesn't mean much. Nobody's heard of 'consumerist' besides this poll and they stopped posting anything in 2014.
Once as a teen I had a boa checking account. I worked as a lifeguard. Anyways when I deposited my check the woman told me in 24 hours my funds would be available. Cool. So I went to the ATM machine around 36 hours later. Attempted to take out 40 bucks for the weekend. Denied. So I tried again, like surely there must be some mistake. Denied again. So I checked my balance. $0.00. Cool so day partially ruined, but whatever. I checked my bank statement that following day and they had subtracted over half of my check from 3 'overdrafts' using their own ATM machine. Charged me three times for each 'transaction' and the overdrafts fees ate up over half of my check. Right then and there I canceled my account and will never go back. Hopefully they changed but it's a major scam.
I had a credit card with them for over 20 years. Then they closed it and never told me why. At first I was pissed, but it didn't affect my credit score much, so I'm pretty happy about now.
Credit score is supposed to determine how much of a risk you are. They look at income to debt ratio (too high = bad risk), how much credit you have available to you (having lots of credit available looks good), if you pay your bills (and if the bills are paid on time), and what kind of debts you have (revolving credit vs loans). Part of the trap is that having no credit score is often treated as worse than having a bad score...so you're forced to borrow money to build up a reputation so that when you really need that big loan, you'll be able to a) be approved and b) get a decent rate.
I must be one of the lucky few that have never really had a problem with B of A. Been a happy customer since 1996. I've only used them for checking account and very briefly, a savings account. Seems like most people bitching in the comments are talking about mortgages, loans, etc.
I came to dislike them after they started charging their customers an ATM fee of $5, even when the customer was using a BoA ATM. Makes me glad that I never did business with them.
I don't live in Pennsylvania anymore but I used to be a PNC customer. At the ATMs near my place, at least that I remember, had no-fee ATMs even if you were not a customer of theirs. It seems like a good way to build trust with future customers.
I never recall getting charged for ATM fees when using a BOA machine. Grant it, it's not that much as I mostly use grocery stores to get cash back, but I just checked and noticed I didn't get charged for the ATM transaction I had at a BOA machine a couple of weeks ago.
Gotta salute your bravery for not shying away from the discrimination issue with Bank of America. That’s been a really hot button topic nowadays with many people knee jerk reacting to either denying it or claiming it’s everywhere. I was actually afraid you weren’t gonna cover it. Glad to see you did
I was forced to leave my beloved credit union when I moved in 1998 and went to Bank of America due to it's good reputation here in California. Soon after, NationsBank acquired them and I groaned. I did see a decline in customer service, especially on the phone. But, I stuck with them and just relied less and less on human interaction. Thankfully, they have built a good mobile and web pretense and thus my interaction is minimal with them. That said, since COVID, when I do have to go into a branch, it's nearly a nightmare. Two tellers for a line of 30 people is a common practice while the manager comes out and redirects the line instead of working a teller window. Thankfully, it's just easier for me to stay away and bank online.
As a Platinum Honors customers (separate accounts) they treat my wife and I good from a customer standpoint. However, she also works for them and comes home with horror stories almost daily regarding how poor the mgt and CS is. If/when she leaves, our money is going elsewhere.
Im in platinum honors as well, which is nothing insanely hard to get. Honestly, I think it just depends on how much money you have on the account. If you don’t have much money in the account, I could certainly say I wouldn’t choose BofA myself
I use them because they have ATMS everywhere. I like being able to travel around and I know I’ll be able to find an atm. Customer service I haven’t had any problems with them. So far so good and I’ve banked with them and only them since 2015.
The vultures would take out my checking account charges and would issue a $36 overdraft fee per transaction before deposits were counted. Imagine depositing a check on Tuesday and seeing charges you made on Wednesday count as "overdrawn" because they hadn't processed your Tuesday deposit yet. It was infuriating.
a similar incident happened to me several times when I was with boa...I've been with Wells Fargo when they were Southtrust in ga. and in spite of their reputation, I haven't had any issues with them
Have my mortgage with BofA-they incorrectly charged me in an escrow, failed to properly remove the escrow, and still haven’t refunded me the amount they owe. It took me over 6 months and having my county government step in before I could get it straightened out. Their customer service was incompetent and slow as molasses to respond to any problem the bank caused, but monumentally quick to charge wrongly. If it weren’t for the mortgage terms, I’d drop them immediately.
Great video, well, I still view cryptocurrency as one of the best digital investments and I totally love the system and technology when it comes to the biggest crypto asset, Bitcoin. As a trader, I could understand that there are two sides to crypto, everyone has their opinion when it comes to choosing which side to choose, although I'm not against Hodl, but I see it as an old and strange strategy to win Making the market as if it is getting bearish Investors / traders their investment is always painful, which is why I see day trading as a main source of profit from the crypto sector or trade warnings copied from a professional trader like MR Elvis Smore, whose trades are very accurate and I was able to massively increase my profits from 0.4 BTC to 4.5 Btc in just 3 weeks with its signals. Elvis Smore runs a program for wealthy elites on how cryptocurrency trading works, helping them capitalize on the volatility of the cryptocurrency market and get more profits from the market. He can be contacted by email: elvissmore1@gmail.com More instructions message him
Awkward moment when you’re watching this from a break room at Bank of America 👀💀
Try to switch to a credit union, you'll love it
@@NicholasLittlejohn I was aware of our reputation before this video but working for BoA is actually not that bad at all. Great pay and great benefits. They take care of you and are flexible if you have COVID or if your Center is shut down because of it. Little stressful right now because of COVID and lots of people on unemployment but makes me even more appreciative of my job. I’ve heard great things about credit unions and wouldn’t mind joining if the right opportunity comes along.
That's uh... That's a but awkward, yeah.
Haaa. Ya, Bank of Amigos.
Bank of America offers great benefits no credit unit will even come close during this pandemic they have provided financial relief
**account at $2.13**
BoA: oh you’re below the minimum requirement on your account, so you’ll now incur a $35 fee. Oh you’re now negative on your account because of our fee? You’ll now incur a $35 overdraft fee. But thanks for choosing Bank of America :)
@@Dragnulls Don’t care didn’t ask
I always wondered what would happen if you just had, zero... man that sucks I'll probably look for another place next time
what type of account did this happen on? i have an account with boa and i don’t recall ever being charged a fee for having a low balance.
@@Dragnulls Don't care didn't ask.
@@shyguy_4 Some low-monthly-fee accounts have a minimum account balance to prevent a low-account-balance fee that, if it throws your account into overdraft, may incur an overdraft fee and can also incur an NFS fee for the initial fee.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
@Christina-Gisela That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@Christina-Gisela I will give this a look, thanks a bunch for sharing.
I held a vice president title with Bank of America. I was a branch manager. I left in 2009 due to a health issue, but I can tell you all this: as bad as the company treats it's customers, which is quite bad, they treat their employees much, much worse.
Indeed!
could you expand on it?
Explain further please
Uh oh, I'm interning there... what am I getting into?
@manleybadger8311 . . . I believe it.
My late dad worked for 10 years at a B of A branch in California, but this item of World War II came along and he was drafted in the US Army and was discharged from his military service in 1946. Upon his return to civilian life, his old job was waiting for him, *at starting pay!*
That made him furious and walked away from it.
But, I suspect there were extenuating circumstances of that low-ball compensation package. My dad had some [ahem!] _issues_ when it came to being sociable, where the staff at that B of A branch didn't want him to come back; hence, make him an offer he'd refuse.
I told Wells Fargo I was leaving them for their terrible customer service and charging me bogus fees for 10 years, that I was going to Bank of America. They laughed. I didn’t realize that BoA was even worse.
Do you happen to know which one is actually good? I'm thinking of Chase, because I haven't heard anything bad from them yet.
Bro credit unions or bust
I’ve been on boA, TD bank, wells F and chase. Chase is the best option for me...
Ditched B of A for a credit union months ago. Best decision I made in 2020
I hated BoA when I had them for a short time -- they apparently charged fees onto my account even after it was closed, which caused a bit of a headache later on. I ended up opening an account with Regions, which I was very happy with but had to close when I moved out west. After having a terrible time trying to open an account with Chase, I ended up giving up and opening one with Wells Fargo, and I have to say, all their scandals aside, I've been surprisingly really happy with my experience.
I appreciate when Company Man makes these "Why They're Hated" videos, he doesn't oversell it or exaggerate he just reports information without piling on to it.
@@Dragnulls Ok. Cool.
@@Dragnulls no one was talking about any god lmao. You also shouldn't be pushing atheism on people lol. 🦝
You cant exaggerate how badly people hate bank of america. Fuck that atm fee if your bank account is below a certain threshold
Okay
@@Dragnulls stop pushing atheism onto people. Your making us look bad smh.
My dad worked at BoA for 15 years, he was approaching the amount of years needed for a pension so one day they just said he stole money from them and fired him so they wouldn't have to pay out the pension, we were a middle class family, my dad had no reason to steal. He's worked for Apple ever since and loves it
This bank made me hate them even more when they decided to just shut down my account for no apparent reason, and when I went to the bank to get help the lady just flat out ignored me.
I remember a few years ago. Bank of America tried to foreclose a home they did not own. The owners sued the bank and won. That bank later closed in that town. lol
They hire unethical law firms to do their dirty work. The are thieves and criminals
I need the contact info of a lawyer to sue BOA
link?
@@yogieyo9935 you won't get a link because its a fake story you idiots gullibly believed.
IIRC, didn't that one end with the bank defaulting on their payments and getting foreclosed?
I was part of the class action lawsuit against Bank of America. I'll tell ya, it took a long time to spend the $23 I received.
Lol
Class action lawsuits only benefit the lawyers
The only winners in class action suits are the lawyers. I would stay away from them.
Same here, I remember it. I got $18 from it lol
was it for them constantly stealing ppls money so they can collect more interest on it?
I needed a cashier’s check to pay for my work authorization application in the US. I went to BofA and paid $15 to get the cashier’s check. After I went home, I realized that the teller forgot to sign the check. Can you imagine a bank forget to sign a cashier’s check? I could have lost my legal status here in the US because of their stupid mistake.
I went to BOA for a home equity line of credit. I was approved and ready to go, but then it came... they wanted me to get flood insurance for my house. My house is not in the flood zone and in fact, it sits on top of a hill. But they insisted. I said, ciao! Went to the credit union and got what I wanted without flood insurance.
Had a BOA account once .. went to close it. They told me there was a $35 fee to close my own checking account. I complained and the Bank MGR told me she would waive it. When I cashed out, I noticed the $35 was taken out. The same Bank MGR in a snarky voice told me, “oh I’m sorry I can only waive the fee for CURRENT customers which is not you.” I will NEVER EVER give them another dime.
is this a true story?,WTF
Lol I would have spit in their face
@@thequantumguy5067 absolutely - happened at the Redondo Beach, CA branch on PCH
I almost forgot - They charged me a fee as well to close it, THEN they didn’t do the math right and gave me a dime over. So they mailed me a NSF charge along with another fee. When I explained that the teller did that, they kept insisting I owed them money. It was a HOT MESS. So glad I left them.
I had a very hard time closing my account with Citibank, a business account. The reason is that banks like to hold onto their accounts since it generates fees and it takes 7 years to break even. So BofA is not unique in this racket. Recall the Wells Fargo scandal too, bank managers get rated on how many accounts they have.
I was going to make a joke about Bank of America, but I lost interest!
OMG i got the joke. hahahahhahahaha
Wanna hear a joke
Bank of America
😆😆😆
not too bad but this sounds like something my dad would say
Winner 🏆 🏆 🏆 🏆 🏆
I remember hearing they would post debits and credits in certain orders so as to rack up the overdrafts... like big charge first, clears you out, bunch of small charges, overdraft for each, then your check comes in and you got like $5.00 left over after. Lol... think there was a class action lawsuit years later over something like that but not sure.
They did that to me. Their policy was to process withdrawals before deposits. I deposited in an ATM on a Friday night, and got NSF charges for everything I spend the rest of the weekend. There aren't many companies I hate more than BoA.
BOA foreclosed many homes back in the recession, including our home.. I remember my parents going to a convention in Los Angeles that helped homeowners fight for their homes and the reps from BOA never showed.. We lost our home soon after. To this day it still hurts. I know my parents haven’t recovered from that hurtful loss. Especially as immigrants coming to America for that “American Dream” of owning a home.
My grandfather lost 3 houses due to wrongful foreclosures. We spent 10 years and tens of thousands of money on a lawsuit and lost. I completely understand your pain.
BoA closed my account and took $600 in “account fees” then sent me a check for $1.34
Damn
That's fucked up!
Had something similar happen, they're a bunch of crooks!
I closed first when change. I think it’s $15 for a month. You can’t have less than $5-10k I don’t know or get fee. Basically don’t want poor cause so big.
Sounds about right, Webster bank did that to me ($675 from me)
They lost me as a customer when I worked for a staffing agency that didn't offer direct deposit. I was running $2,000 through the account every month, but since it wasn't direct deposited they charged me a monthly fee. I went to a credit union, and never looked back.
Hello
Credit unions are lovely
Chase bank is better
Very typical of BOA. Ugh!
Excellent move!
I went to BofA last week to process a wire transfer. I was told that it couldn't be done for 3 days, as they had no banker appointments available and tellers can't do this. I went to Chase and had it done immediately...by a teller. Imagine that!
I have multiple seriously bad experiences with this institution not just customer service but borderline criminal policies.
They told my mom, who was dying of cancer at the time, that when she died they would immediately foreclose on her home and they said it in the meanest, nastiest way possible. Well, we had an out for that, but now in any setting I write where I can Bank of America goes out of business in the worst way I can possibly imagine.
Wow that's insane, they got no soul
They are super nasty. How in the hell are they staying in business
@@yolandaroberson611 There used to be a lot of commercials but maybe that’s why I haven’t heard or seen of them in ages
That's just people
I hate bs predatory banks
So once upon a time, I opened a BoA account in Georgia. When I moved to California, I learned they didn't treat the accounts the same. I could put in a cash deposit in my account in California, and it would take 3 days to show up in my account. BoA suggested I close my account, and open a new one. So I did that, I opened an account at a great Credit Union in the area. I think they meant for me to open a new account with them, but if they couldn't handle accounts between states, I had no interest in using them.
Hey at least you followed some good advice
That specific issue goes to old regulations of interstate banking that didn't allow banks to cross state lines. So you had separate banks of the same name owned by the same company legally required to be operated separately.
IIRC, the regulation still exists but now allows for more integration into a parent bank. You may notice the N.A. (not affiliated) designation on your checks, if you still use them.
@@Drknnja even in 2008?
@@SimonTekConley even today in (2021) acquired banks have to be operated separately.
Your Georgia account was likely a Nations Bank account and the California was a BofA account which operate in 2 different federal reserve branches. Separate banks owned by the same bank holding company.
The Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (Interstate Act) allows banks to branch across state lines. Section 109 of the act, however, prohibits a bank from establishing or acquiring a branch or branches outside its home state, pursuant to the act, primarily for the purpose of deposit production.
Not something that a general consumer should want to know.
I remember when ATM networks didn't operate in more than a few states.
If your ATM card was issued by a bank on the MOST® network, you couldn't withdrawal money from an ATM on the Cirrus® network.
@@Drknnja ahh. Strange though, I currently live a different region of the country, and bank with a different bank, a regional one. I've never had issues depositing money into the account while if another state with this account.
BoA charges a quarter to breathe the air.
I had 2 BoA credit cards. One was closed. The other they reduced the limit from 25k to $1000. No warning. No letters. Nothing. I was never late paying any of them. Needless to say I'm no longer a customer.
When a bank charges you a fee for NOT depositing something once a month, run. Idk of they still do that but they did that to my dad for years.
Yeah its $12 a month now if you dont have direct deposit
It is called admin fees lol they have to work your account as they report balances and activity to fdic.
@@-..-..-..-. 😤Also has to be over $250 in one check.
lol all major banks do that...
only some credit unions or silly online banks are the ones that can't charge fees
Still do, along with savings, reason why i closed my savings account
As someone who got his education in finance, I can tell you from the inside BoA was not allowed at our job fairs. JPMorgan? Sure. Goldman Sachs? Welcome! But BoA was known for not being good to our grads so they were blacklisted.
They are the Walmart of banks for sure.
@@NicholasLittlejohn is that a good thing or bad?
@@aasimmukhtar7752 bad
@@aasimmukhtar7752 Like double-plus ungood type bad
@@aasimmukhtar7752 very bad.
Agree 😡
They kicked me out & closed my account, I call ask but never got the answer,they said can’t tell & give me the reasons. I have no money to pay bills and mortgage, it took them 4 or 5 days to get mine check in the mail.
By the way I have good credit 850, hardly missed any payment. Now I’m with Chase and happy, everyone there nice 👍
I have 850 as well. That's PERFECT credit. That was probably Why. They are loansharks, and love to charge you the high interest rate.
About 20 years ago, I worked as a waiter in Los Angeles. The restaurant was very short staffed so I was working double shifts about 5 days a week. On my day off, I went to my bank (B of A) to deposit the large amount of cash tips I had accumulated. The bank teller enforced me that I had been overdrawn for over a week, although hadn’t received any notice about this. This was only the second time in 3 years that I was overdrawn. Since my income primarily came from my cash tips, I was paying all my bills this way and rarely used my bank. The bank manager came out, took the payment that I had been overdrawn and then told me coldly that they were going to close my account and send me to check system for the next 7 years. They could care less about the individuals who are their customers, it’s all about corporations. Horrible bank, the worst.
It’s incredible. It’s a really crafty game that they play where payments come in at all sorts of weird times.
Every third blink you take with the app open it’s a $35 fee.
They were always trying to nickel and dime. They sent out a letter to me saying that after a certain date, if I wanted to continue to have free checking needed to have a combined balance of $10,000. I went across the street to another bank.
During covid the fed gave a pass on any fees to the bank but they did not pass it on to the consumer .. allowing them to make billions in profits
WHAT? are you for real? I’m about to watch the video. Do they really charge 50 cents???
Mm that’s only if you go negative
every time you call online costumer service they charge you 5 buck without tellingn you they get it annually
BoA sucks. After them I started banking local. I highly recommend smaller local or regional banks. You get better customer service and better policies
👏🏽👏🏽👏🏽
One of the problems in the banking industry were changing of the rules that allowed the megabanks to purchase the smaller hometown banks.
Yup. All of our financial banking is done through our credit union. Gotta love the 10.45% credit card!
@@F3Y3F3 come up. I'll take a look at my local credit unions
or credit unions!
We had an argument with their associate at the branch because we did not have an appointment to close our safe deposit box so when we asked why? She kept telling us that we have to without providing any explanation. We kept asking and she kept raising her voice and kicking us out. At that time we just thought we will go to another branch to get our safe closed. Without knowing that this person complained about our visit to their cooperation, within a week BOA closed our accounts without informing us first, we found out when we tried to pay for the grocery because the card was declined. So be warn if you have a bad feeling about their services, close your account and go somewhere else.
I was an intern there just when I turned 21. They treated me like shit and didn’t care about my mental health when I worked at the call-center I still bank with them but that’s only because I don’t have the energy to go through and change banks, I hate it there.
I find it sad when a company begins with the greatest of intentions but over the years veers off its path when overtaken by greedy people😞😞
All companies have started with good intentions as they grew up in a generation with higher moral values and standards. Fast forward to today as those older people pass on and the younger generation that grow up in a morally declining society take the company and steer it to greed snd self serving.
@@autonomousglisteningwater2286 that's what happens when you hand the reins over to entitled boomers and greedy Gen Xers who came of age at the height of 80s hedonism, who run the companies today.
The road to Hell is paved with
It's always the same: we make something to help people, Americans wipe out our history, painting a totally American background and start turning the company to a making-money machine just for their profit.
Isn't that the only word that matters in America? Profits?
I have to ask Americans if human lives are profitable. Their answer will be spectacular awkward. 😑
greedy groups of people. Thats capitalism.
you walk in and see the bank manager and loan officers sitting at their desks while there is only 1 teller at front and a line of customers all the way outside the door
I spent my career in Banking/Finance, and unfortunately, this was true too often. The Manager and Loan Officers, and Assistant Manager wouldn’t be there to hear the customers complain about the line. They were in charge of scheduling, and would always under schedule. Nothing is worse than being a Teller and seeing a line out the door. Or slaving away to meet a Loans funded amount and then they RAISE the goal. Surviving a downsizing AND a merger, only to find out that you thought you were working hard before, you are really working hard to replace all those people just laid off.
They can only afford to pay one teller
@RUclips WantsToSilenceMe preach
@@bobross4886 yeah thats why they are like second from the biggest bank in the US. dumb comment dumb like whoever liked this hilarious.
Sounds about par for the course
Loaning money to risky people was a result of government deregulation. The law was called the 'Community reinvestment act' where the government put pressure on the banks to loosen their standards and loan money to people who had no business buying a house. Unfortunately smaller banks are held to a tighter standard and don't get away with as much as the large banks when the regulators and mutilators come in.
My first bank was Nank of America. They allowed my mom to create my bank account, she used it, then hired creditors to go after me after a year in the military for charges I never made.
The red border on the thumbnail made me think I already watched this lol
Oh that's funny. Didn't even think of that.
@@companyman114 yeah man don't put red border on thumbnails, it makes people think they've already watched the video
Same! I almost skipped it until I saw 4 days ago
@@companyman114 no, add red lines at the bottom of every thumbnail just to screw with everyone :)
About 25 years ago, BofA managed to empty my account through a teller error, totally unbeknownst to me. It took them a month to get my money back, and that was after I had to threaten them with legal action. So yeah, I hate 'em.
But you got your money back.
Petah!?
@@eddyeroyal6024 - So all is forgiven. Yeah, right.
@@full-timepog6844 - Yeeeess?
😳
I remember back around 2010 my parents signed up for this store membership that Bank of America was handling. One day they got a bill in the mail for over $10,000. As it turns out, my parent’s identity was stolen, and the thieves went on a massive spending spree. And the Bank, for some reason, decided not to do anything about and expected my parents to pay without question. When my parents questioned them why didn’t they tell them, the Bank responded “you did not give us permission to tell you that your identity is stolen”. Parents disputed every purchase that wasn’t theirs and canceled the membership.
I’ve had BOA since I first had an account and I like it. I still have it. Their are some annoying stuff like fees but that’s with any bank and no bank is gonna be perfect.
I closed my checking with them a few years ago. Went in person to the bank, closed it and transferred all my money out to another bank. Soon after I get a notification that I got charged a fee for being under $35 then I got charged again because it went into the negatives. Had to call them to remove the fees and finally close the account. Cause I guess the first time didn’t count.
that actually happened with me with US Bank
i went down to close my account and kept getting emails and letters that were basically ads
I called and confirmed my account was closed and opted out of any further advertisements
it stopped for a few months but started up again a year later and when i called again they said my account was still open and never closed
Accounts don’t close automatically you are responsible for the account for a bit
That red line in the thumbnail made me think I had already watched the video, I was so confused lmao
For real
@@Dragnulls 12
@@Dragnulls Jesus, you’re still doing your schtick? Why do you bother, because all you’re doing is pissing people off.
😭 me too
I just had the worst experience at BofA or any business really. My wife and I were trying to open an account and it ended with the branch manager getting angry with us and kicking is out before we can finish so he could get to another appointment. He was so rude my left wife in tears. When I asked for his name or business card, he refused and asked me to leave again. So I complied and started walking out and he proceeded to insult me as I left. Real professionals over there.
The only fee I've ever gotten from Bank of America was when I dropped below $100 in an account used to happen often as a kid. Then I had it again last week the fee took me below the $100 its like they charged it preemptively. Then an over draft. The troubling thing is I can go all over the country and not get that ding for possible fraud or stolen card purchases, but if I go to the next town over and get taco bell boom we think there is fraud happening
Didn't expect that they have a reputation this bad before watching this video...
Now i will go with Chase :D
When I hear Bank of America I think of bad customer service and bad customer support. Instead of helping me they argued with me refuse to help me I had to drop them trash ass bank
@@Dragnulls There is no proof of god, but your comment is proof of idiocy.
@@Seanonyoutube Spatza comment made my eyes burn.
@@mitsuri1849 I am pretty sure after boa it is then chase then Wells Fargo unless people experienced the Wells Fargo fraud with general hatred.
Since they had trillions in assets why did they or their number ever receive bailouts? Politics, that's why. The rest of us have to sell assets to balance budgets.
The goal of every business is to get important enough such that the US govt will bail you out from insolvency.
Justin how are you ?
To be honest I have information into your question. BofA never wanted to take the 45 billion bailout money because they didn't need it. Taking it was forced upon them by the government and they paid it back as soon as the government allowed them to with interest. There were no payments made over time to payoff the bailout money, just one check written and done. BofA was well positioned for the 2008 recession as I a shareholder was informed.
@@keithwalker5696 indeed. Unfortunately a lot of other people didn't have the ability to pay back anything. The system looks out for itself regardless even if those parties involved were responsible after the fact.
As Kenneth Walker said, the federal reserve did not want the public to know who needed the loans so they compelled all of the majors to take loans.that way, there would be no runs on the weaker banks. That’s how the story goes anyway.
Been with BofA since 1974, always had good experiences
That’s too long to be true
You’re name is Disney. You’re hated too.
i havent even personally dealt with boa, but i remember hearing my parents constantly complaining about them and spending a lot of time in the lobbies of the banks. i personally was indifferent as a child bc they gave me lolipops every time we visited
They tried to get my 87-yr-old mother-in-law convert her IRA into an annuity with restrictions on the first few years. SHE WAS 87.
BoA “Did you know the first 150 year old has already been born? It could be YOU!”
Just closed my BOA account yesterday. Best feeling ever.
👍👍👍👍👍
I just realized I have money in my account 😂
You did great with the history. That's where we the expression, "Big Bank take Lil Bank."
I've had BoA for over 15 years now, I've had zero issues with them and been very pleased with my local branch. I hear Wells Fargo is the nightmare bank to deal with.
Seems like most people's issues are just bring broke and getting hit with overdraft fees.
Closing my Bank of America account was one the best financial decision I have ever made.
Why
Information plz
Crazy I just have a issues with them right now taking out something they shouldn’t and stupid maintenance fees
Same. I've never experienced so many fees. They even froze my account cause I bought some groceries at the grocery store that I used to work at. wtf.
Why?
I have a big problem with Bank of America when I was 5 I remember that they didn’t give me a lollipop.
Should sue
wow this deserves a class action, they never gave me one either :(
I was confused I didnt register the space between "5" and "I" so I thought you meant this happened when you were 51
@@angeluriel2725 Pretty sure they don't give 51 year olds lollipops either.
Those bastards.
Damn I mean I'm young and have only been a customer for about b3 years but they've been good to me so far. When I went to go first open an account with my immigrant mom at the age of 17, the guy who helped was very friendly, when fraud was attempted the actions were caught quickly, when I needed a replacement card and an address change calling them was quick and easy, I do like how their app is integrated as well. I've only had good experiences so far.
Wey, run. It’s a facade.
My only gripe with BOA, is that in my area they have closed down brachoffices and installed debit machines, while pushing an online banking agenda, which because of the rampant internet fraud which goes on, I refuse to risk my finances on.
And frankly, customer service when I do business at a branch office could be improved. Vastly.
I mean that Giannini guy started out doing actually good to the people. Bet he's revolting in his grave knowing the shit they're doing to his vision
I agree. I joined for the origin story. However the do not reward loyalty 20 years of it to everyday account holders
I remember opening an account when I was 12 with $25. Then they started charging me a $2 monthly fee. That was back in the late 80s and it still irritates me today.
Its $12 a month now
__ damn! Chase bank has been good to me
@@opichocal Sorry to hear that. Misery loves company.
@@opichocal i won’t do business with chase bank. they keep getting into trouble with the federal government for manipulating the silver market.
Open a credit union account. You’ll be much happier.
My very first and only experience with BOA was getting screwed over. I deposited my paycheck into the ATM just like i did with my old bank. They wanted to hold it for a week. I had bills that ended up late because of this. I tried to get my money released that day by bringing my pay stub to the branch and told them how extremely inconvenient this was. Her response was "well, I'm sorry you see it that way." I left before I let my self throw a chair at someone. Never again.
Thats common with banks..they dont want to get burned on a bad check
I was a Countrywide Mortgage Banker (not subprime) and left shortly before the acquisition. “Bank-O” (as I call them) did not voluntarily purchase Countrywide. Hank Paulson approached them and said that we could not let the largest mortgage lender in the country go down the tubes, it would create financial chaos. About the same thing that he told Bank-O when they purchased Meryl Lynch. Bank of America was given a waiver on the amount of personal savings they were allowed to hold as the percentage of the total American savings. I don’t remember the exact verbiage but they were given another two or 3% that they were allowed to hold. Had something to do with a federal law, I was a mortgage banker not a money banker LOL
Former employee here and I can definitely attest to this fact. A few reasons is because they don't care about their customers. They will literally close down branches with high traffic volume if they don't meet their sales. Nothing else matters. Great surveys, good feedback, great customer service, NOTHING. If it doesn't relate to them opening an account(s), credit card(s), auto loans, mortgage, app, they couldn't care less. They literally trained me to not apologize to anything because "it admits fault" not even joking, my corporate trainer from NY told me that
I believe you and it sounds about right regarding their lack of customer care. They'll NEVER steal any more of my money ever again. Worst bank I've ever had the misfortune of doing business with.
Yeah they closed the only branch I could walk to and had the only ATM that always worked, now I either have to drive a couple miles or hope the shitty ATMs are actually working
@@QuestionEverything-qp6kw you made the right decision in leaving
@@Karmy. doesn't surprise me. They close down branches even if they hit 75% off their goals. If you opened 100 accounts in Q1 of last year and "only" opened 80 accounts the next year, they consider that a bad drop-off, you sit down in a meeting, and they ask you all types of questions about how you failed
they nickel & dime their customers on EVERYTHING
There was an old Washington Mutual TV ad, which had this bank teller guy charge a customer for his outbursts, which had several verbs and pronouns in it.
I had never had to pay a fee with Bank of America.
Every bank does, pick you poison.
THIS. They fucked me over during Hurricane Ike in 2008 AND were predators in giving credit to YOUNG, low income adults.
@@rkmugen The "Fee Avoidance Fee".
I had an account with BofA back in the 1980's for about 10 years..the main reason i chose them at the time was they were the only bank that would allow me deposit my check through the ATM and immediately withdraw 50% of the check..secondary reason was the number of branches at least west of the Mississippi...
When their fees went out of control i bailed out..
I personally like Bank of America. I’ve been with them over 12 1/2 years and haven’t had any issues with them. Customer service has always been a great experience ever since opening my account. I understand not everyone has had a great experience with BofA and that is why some don’t like BofA.
I hate them for the mergers. I've watched as most of the banks in my area were gradually bought by BofA and eventually they bought my bank. I dislike that so much of their growth has been about mergers and acquisitions rather than actually being a good bank.
I fell the same way about T Mobile taken over Sprint. I’m not a T Mobile fan. They had the nerve of raising my phone bill by $10 dollars with all these fees. They said they would not raise my phone bill, but they increased the fees.
Oh and by the way, I have no problem with BofA. I have been a customer for 15 years. It might change in the future, but not now.
I just wanted to complain about T Mobile. I miss Sprint.
True LOL
@@angiegissen check out Consumer Cellular, they have excellent customer support.
@@angiegissen back in the 90s there was a ton of cell phone companies. Now we are pretty much down to 3.
They can't buy credit unions...which is why I Bank at one
I work in the industry as a competitor of BofA. BofA’s nickname is the bank that keeps on giving (as in always giving away their clients bc of terrible service).
How are you ?
yeah dude whats up? hows it going?
@@bitchwormpuddin1499 who is this dude?
I must be in the tiny minority because I’ve been a Bank of America customer for 22 years and I’ve never gotten a fee that they haven’t removed and I’ve never had to wait more than 5 minutes to be connected to someone while calling through their app. I really like Bank of America.
Personally, I've had my checking accounts and credit cards with them for 14 years now:, good debit account system, a Customer service has always been polite and prompt (they're allowed to give you a Grace credit one a calendar year, long as its under $50..late fee, teller fee, etc. But you got to call in and politely complain). I've also been a shareholder for a few years now seem to be on a positive growth track.
I have been depositor from long before. I organized banked with the Fourth National Bank when it was bought by Nations. I was a OTR truck driver. They were one of the few banks that I could deposit or withdraw anywhere in the US. Have always been treated fairly.
I was laid off from BofA a couple years ago. Best thing that ever happened to me! I discovered tons of other jobs out here in Orange County, California. They Pay twice as much, no micro-managing, and no Nazi managers controlling my every move! Thank you God!
That's the good thing about getting fired, for some reason better paying jobs start coming ur way
What's micro-managing?
Nazi managers?
@@Christian-gr3gu yup...Nazi, Communist, Dictators! 🇨🇳
Perhaps a job in the spying industry? Comes with Astom Martin company car.
I 100% recommended a credit union. My local credit union is awesome and there’s no account fees or any dumb stuff like that. I can’t believe ppl actually pay for fees
Agreed. The best way to stick it to the big banks is to take your money elsewhere. I've noticed some credit unions are starting to form networks, which helps alleviate the problem of the big banks nicking you for ATM fees when you're traveling.
I will never use a bank. Credit Unions have better fee's and rates, don't charge weird penalty fees just to generate revenue for their investors, and are owned by the members. They're there to serve their community, not a large collection of miscellaneous investors.
They usually pay for fees because they want to send money where the credit union can't
My credit union had overdraft fees back in the late 2000's, so it used to be no different than Bank of America. Happy to say they've changed their ways since, and now they're amazing.
I quit working with boa 3 months ago. One of the last things I was told by a district manager, was that if a customer is complaining and they have low balance in account, you're pretty much allowed to closed accounts. Unless you had more then 20k in your accounts the bank does even consider you as a value customer.
Thats a Huge limit !
I'm a former BofA customer. We had several problems with them in regards to overdrafts. They pushed their "deposit protection" where if there is an overdraw they link the accounts so that you can always use the debit card. This was on me for not paying as good of attention to the account but to charge $100 for one $5 overdraw because of the overdrawn account in conjunction to the linking of the accounts and the negative balance charge. They also reported a move to the credit bureau because I was living with my parents and they assumed that I moved with them. I moved out to live with my wife and had a verified legal address. I tried to get it straightened out because if my dad wanted to he could take out the credit cards because they were sent to his house. They said that I would have to reopen the account. I will never go back! I'm currently with a small credit union and have never had any issues!
Great video, well, I still view cryptocurrency as one of the best digital investments and I totally love the system and technology when it comes to the biggest crypto asset, Bitcoin. As a trader, I could understand that there are two sides to crypto, everyone has their opinion when it comes to choosing which side to choose, although I'm not against Hodl, but I see it as an old and strange strategy to win Making the market as if it is getting bearish Investors / traders their investment is always painful, which is why I see day trading as a main source of profit from the crypto sector or trade warnings copied from a professional trader like MR Elvis Smore, whose trades are very accurate and I was able to massively increase my profits from 0.4 BTC to 4.5 Btc in just 3 weeks with its signals. Elvis Smore runs a program for wealthy elites on how cryptocurrency trading works, helping them capitalize on the volatility of the cryptocurrency market and get more profits from the market. He can be contacted by email: elvissmore1@gmail.com
More instructions message him now
Leaving Bank of America in 2012 and joining University Federal Credit Union was one of the best financial decisions I've ever made.
my brother just suggested that to me
Two words: "Maintenance" fees
You have to get direct deposit to avoid the fees of their basic accounts, or did when I worked there. If you lose your job, they IMMEDIATELY start nickel and diming you to death. I have no clue why people use them. Or Wells Fargo.
That’s why I left them and never looked back. Why would you willingly pay for a maintenance fee on your own money lol
literally every bank does that now, only ones I have found that don't are credit unions and capital one, which doesn't have brick and mortar locations you can just walk into.
Seriously, I got bitchy with customer service about that and the guy couldn’t explain it to me (he wasn’t just some worker fielding cs calls, he worked in the bank/with boa)
My mortgage was sold to boa years ago.Tried everything they could to foreclose.Charged me $15.00 fee every time I called in to make a payment. Didn't realize so many others hated boa. I belong to a wonderful credit union now.
My experience with bank of america has been largely positive. I left wells fargo for them back in 2011.
Idk, ive been woith BofA for 4 years and counting. They dont have any attractive benefits that i know of. But they do have excellent custome service and ive never had any issue with them. Its not much, but thats how i love my banks: quiet and subtle in the background.🙂
This video is so timely, I was going to open a bank account in Bank of America but something went wrong and the customer service agent opened the account for me in a very weird way and not in the way I intended to so I just ended up closing it and choosing a different bank lol
Just go with a credit union.
@@Dragnulls your understanding of the world is shallow. Go explore the deep end
@@Dragnulls Spamming that does little more than annoy people. Stop making us atheists look bad, jackass.
boa will Rip you off - lie cheat and steal from you - they did it to me -
- use local credit union
I want to hear why it was weird.
When I was 18, I got a job at a call center which outsourced BOA customer service to people who got little training for $8/hr during the recession. The amount of fees, theft, etc was ridiculous.
Looks like I have your job now. Spoiler nothing has changed
Was BOA and Chase customer 2000-2010. Worked various jobs and in between jobs.
Hard time with overdrafts during difficult time. Barely ever got overdraft refunds on my monthly bills auto autopsy.
Was constantly charged late fees on loans and credit card I payed every month. They were not lenient on extensions or refunds.
Moved all my banking to Credit Union in 2010 no regrets. Easy overdraft refunds,!especially on my monthly bill autopay. Easy loan extensions.
I’m thankful for credit unions while I got myself back on my feet. Now I’m in a much better financial situation, and I owe credit union a big thanks for helping me during my times of need.
All my businesses banking exclusively with credit unions now.
2 million dollars isn't even a slap on the wrist. It's a gentle nudge.
Great video, well, I still view cryptocurrency as one of the best digital investments and I totally love the system and technology when it comes to the biggest crypto asset, Bitcoin. As a trader, I could understand that there are two sides to crypto, everyone has their opinion when it comes to choosing which side to choose, although I'm not against Hodl, but I see it as an old and strange strategy to win Making the market as if it is getting bearish Investors / traders their investment is always painful, which is why I see day trading as a main source of profit from the crypto sector or trade warnings copied from a professional trader like MR Elvis Smore, whose trades are very accurate and I was able to massively increase my profits from 0.4 BTC to 4.5 Btc in just 3 weeks with its signals. Elvis Smore runs a program for wealthy elites on how cryptocurrency trading works, helping them capitalize on the volatility of the cryptocurrency market and get more profits from the market. He can be contacted by email: elvissmore1@gmail.com
More instructions message to him now
BoA ended up owning a number of foreclosed homes in my neighborhood in the wake of the 2008 subprime thing. They sat unsold for years, with some even still unsold to this day (in a pretty damn sorry condition at this point). BoA also had a habit of simply not cashing my Sister in Law's parents mortgage checks, and trying to hold them responsible.
I love how EA is even more hated than BoA.
Hmm yes some gaming company that makes games with microtransactions and killed a few game studios is a bigger evil than the biggest banking company in America that proves to screw over millions of people
That's because the website that does that poll is relatively unknown and it was spammed across forums like reddit and 4chan to vote for EA, it doesn't mean much. Nobody's heard of 'consumerist' besides this poll and they stopped posting anything in 2014.
BoA is the banking world’s EA
Revenge of the nerds
@
That's what baffles me too. Boa bought companies that ruined people's lives, wells fargo IS the company that ruins people's lives
Once as a teen I had a boa checking account. I worked as a lifeguard. Anyways when I deposited my check the woman told me in 24 hours my funds would be available. Cool. So I went to the ATM machine around 36 hours later. Attempted to take out 40 bucks for the weekend. Denied. So I tried again, like surely there must be some mistake. Denied again. So I checked my balance. $0.00.
Cool so day partially ruined, but whatever. I checked my bank statement that following day and they had subtracted over half of my check from 3 'overdrafts' using their own ATM machine. Charged me three times for each 'transaction' and the overdrafts fees ate up over half of my check. Right then and there I canceled my account and will never go back. Hopefully they changed but it's a major scam.
I left them because of their excessive, unnecessary fees.
I had a credit card with them for over 20 years. Then they closed it and never told me why. At first I was pissed, but it didn't affect my credit score much, so I'm pretty happy about now.
What's a credit score? Does it work across different banks?
@@thesmart1000 From my knowledge, credit score is how much your bank trusts you.
"Credit Score is what they "THINK" of you as a "SUCKER"
Credit score is supposed to determine how much of a risk you are. They look at income to debt ratio (too high = bad risk), how much credit you have available to you (having lots of credit available looks good), if you pay your bills (and if the bills are paid on time), and what kind of debts you have (revolving credit vs loans).
Part of the trap is that having no credit score is often treated as worse than having a bad score...so you're forced to borrow money to build up a reputation so that when you really need that big loan, you'll be able to a) be approved and b) get a decent rate.
@@randomstuff-qu7sh Where is your credit score kept though? IRS?
Hilarious, I just closed all my Bank of America accounts this week because I was sick of their shit.
Translation, "I SHIT ON BOA!" 🤣🤣🤣🤣🤣
Lol feels good to be a student no monthly fees
How are you mike
I must be one of the lucky few that have never really had a problem with B of A. Been a happy customer since 1996. I've only used them for checking account and very briefly, a savings account. Seems like most people bitching in the comments are talking about mortgages, loans, etc.
I remember a comedian called Bank of America Stank of America and he was right...
I came to dislike them after they started charging their customers an ATM fee of $5, even when the customer was using a BoA ATM. Makes me glad that I never did business with them.
that’s just sad
@lordpublius wowww. is this a recent thing? despicable
I don't live in Pennsylvania anymore but I used to be a PNC customer. At the ATMs near my place, at least that I remember, had no-fee ATMs even if you were not a customer of theirs. It seems like a good way to build trust with future customers.
For real?! Most banks don't charge a single cent for using an ATM! At least in Singapore
I never recall getting charged for ATM fees when using a BOA machine. Grant it, it's not that much as I mostly use grocery stores to get cash back, but I just checked and noticed I didn't get charged for the ATM transaction I had at a BOA machine a couple of weeks ago.
Gotta salute your bravery for not shying away from the discrimination issue with Bank of America. That’s been a really hot button topic nowadays with many people knee jerk reacting to either denying it or claiming it’s everywhere. I was actually afraid you weren’t gonna cover it. Glad to see you did
I was forced to leave my beloved credit union when I moved in 1998 and went to Bank of America due to it's good reputation here in California. Soon after, NationsBank acquired them and I groaned. I did see a decline in customer service, especially on the phone. But, I stuck with them and just relied less and less on human interaction. Thankfully, they have built a good mobile and web pretense and thus my interaction is minimal with them. That said, since COVID, when I do have to go into a branch, it's nearly a nightmare. Two tellers for a line of 30 people is a common practice while the manager comes out and redirects the line instead of working a teller window. Thankfully, it's just easier for me to stay away and bank online.
Started working at Bank of America in 1969 and retired in 2020 great company to work for , no regrets.
Been with a credit union 17 years. Never a problem.
Straight up. 👍
@@Corkoth55 yes
that's for poor people
For real. Credit unions people!
@@JN-only Damn. Hope that never happens to us. My grandmother had terrible trouble with them many years ago.
As a Platinum Honors customers (separate accounts) they treat my wife and I good from a customer standpoint. However, she also works for them and comes home with horror stories almost daily regarding how poor the mgt and CS is. If/when she leaves, our money is going elsewhere.
Im in platinum honors as well, which is nothing insanely hard to get. Honestly, I think it just depends on how much money you have on the account. If you don’t have much money in the account, I could certainly say I wouldn’t choose BofA myself
Am I the only who loves Bank of America? Never had a problem with them, and customer support is awesome 😊
I use them because they have ATMS everywhere. I like being able to travel around and I know I’ll be able to find an atm.
Customer service I haven’t had any problems with them. So far so good and I’ve banked with them and only them since 2015.
True words
Hi amber
The vultures would take out my checking account charges and would issue a $36 overdraft fee per transaction before deposits were counted. Imagine depositing a check on Tuesday and seeing charges you made on Wednesday count as "overdrawn" because they hadn't processed your Tuesday deposit yet. It was infuriating.
a similar incident happened to me several times when I was with boa...I've been with Wells Fargo when they were Southtrust in ga. and in spite of their reputation, I haven't had any issues with them
& most "GALLING", the CEO, who thought this "CRIME" up, got MILLIONS.
"Robin Hood" why they're hated
Hated by redditors
only other brokers hate them for taking away all smaller investors
@@itsjedu8403 i hate reddit AND robinhood
This is going to take some time for everything to shake out the proper details.
ruclips.net/video/PIAxrnkity0/видео.html
@@Dragnulls Thank you sir
Have my mortgage with BofA-they incorrectly charged me in an escrow, failed to properly remove the escrow, and still haven’t refunded me the amount they owe. It took me over 6 months and having my county government step in before I could get it straightened out. Their customer service was incompetent and slow as molasses to respond to any problem the bank caused, but monumentally quick to charge wrongly. If it weren’t for the mortgage terms, I’d drop them immediately.
Great video, well, I still view cryptocurrency as one of the best digital investments and I totally love the system and technology when it comes to the biggest crypto asset, Bitcoin. As a trader, I could understand that there are two sides to crypto, everyone has their opinion when it comes to choosing which side to choose, although I'm not against Hodl, but I see it as an old and strange strategy to win Making the market as if it is getting bearish Investors / traders their investment is always painful, which is why I see day trading as a main source of profit from the crypto sector or trade warnings copied from a professional trader like MR Elvis Smore, whose trades are very accurate and I was able to massively increase my profits from 0.4 BTC to 4.5 Btc in just 3 weeks with its signals. Elvis Smore runs a program for wealthy elites on how cryptocurrency trading works, helping them capitalize on the volatility of the cryptocurrency market and get more profits from the market. He can be contacted by email: elvissmore1@gmail.com
More instructions message him
I close my account with Bank of America. Mess up bank stealing your money over night.