Friday, October 28, 2011

Bank of America: Every little bailout helps

After banking with Bank of America for 16 years, I finally just couldn't handle it anymore and waved goodbye.  An article in today's Wall Street Journal prompted me to write this post today.


About a month ago I made a mistake while paying a credit card bill online.  I accidentally selected the wrong account, and unfortunately that account's balance was too low to pay the bill.  I immediately called both Bank of America and American Express and informed them of my mistake.  American Express was understanding, cancelled the transaction, and informed me they would reimburse me if I would be charged any fees on their end.

Bank of America told me it was too late, the amount had already been overdrawn, would be returned, and I would be charged a $35 non-sufficient funds fee.  Fair enough, I thought.  After all, this was my mistake. 

A few days later I get another email from Bank of America alerting me to a non-sufficient funds transaction and corresponding $35 fee.  Then this happened again 2 days later.  I called Bank of America, and after being transferred around the globe a handful of times, I was informed that they kept trying to pay the American Express bill on my behalf!  Certainly this was a mistake on their part, right?  Certainly they would refund me all or some of the $105 non-sufficient fund fees I've racked up.  Nope!

In that same phone call I asked to close all my accounts.  They seemed a little too efficient in this process, and the agent informed me I would receive a check within a couple weeks.  Perhaps as a final "f- you" from Bank of America, I received yet a fourth notice in the mail just a few days ago:

As an interesting side note, take a look at the customer feedback survey on the top. 
Have you ever seen a survey require the customer to pay for postage?

Yes, apparently my account was overdrawn by 1 penny when they closed it.  You can't make this stuff up!


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