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• Bank Of America To Buy Merrill Lynch For $50 Billion. And while I am pretty happy with the purchase (I am a BofA stock holder), it does make me a a little nervous because of the difficulties Merrill has been having of late. First BofA got Countrywide and now Merrill - I hope it doesn't backfire on them somewhere down......
• Bank of America Joins the Club of Shareholder Abusers This week Bank of America announced that it was cutting its dividend payment in half.  Mr. ToughMoneyLove is outraged by this action.  It represents an abuse of shareholders like me who invested in Bank of America as a reliable dividend-paying stock and who stayed with the company while other banks......
• Romance Writers of America The Romance Writers of America's 28th Annual Conference is going on right now as you read. Do you not know what the RWA is? It's the largest organization in North America for romance writers, readers, publishers, agents, etc. There are two requirements for a romance novel based on RWA's charter.......
• Bank of America $75 and $100 Checking Bonuses Hustler posted a Bank of America $75 checking bonus yesterday, but I think this $100 bonus is still active. Both bonuses require direct deposit - easily accomplished with Paypal. I usually deposit $25 on the 1st of every month until I close the account. BOA is one of the......
• Stock Tips On Bank Of America Bank Of America (BAC) is at $6.93they lost .74 cents today and didn't have a good or bad day in my opinion.  We at stock tip opinions bought Bank Of America  at $4.73  , they are officially at $6.93  now.  After reading their financial statements I've come to realize that......

BOA: Closes account and charges a fee to do so..

sisigman writes:

Hi,

I recently decided to avail of the $50 promo by BoA (in mission viejo, california), where if you open a new savings account (apply for an ATM card), theyll give you a $50. Sounded sweet. So I signed and all, and was required to deposit $125 before they could process my request (60 business days). 3 days after my application, I received a letter from BoA (Texas!) informing me that they decided to close my account because of risks their company found out about me. Then they provided a number I can call to ask questions — it’s their so-called “Risk Identification Division.”

So I called. They told me that the company does have the choice to close my account whenever they want. So I asked on what grounds they decided to close my account. They just told me the company found a risk. So I asked what that risk is. Then they said it’s something their department can’t disclose specifically. Worse, they even informed me I can NEVER in my life open a BoA account, anywhere in the US, as if I’m a bigtime criminal or something. WHAT THE FUCK?

Then they said they’ll just return my money. So, fine, I thought. At least I’ll have my money back.

So I waited. And here arrives a check worth $65 only… SHIT! I deposited $125 and they’re returning only $65? I called this Risk shit department again and asked how come. They told me the other $60 was sucked out of my deposit for that “Research Fee” for that mysterious research they did on me resulting in them closing my account — which I never had an idea of! Do they even have a right to charge me for something I wasn’t informed about? I didn’t ask to be researched on.

SCAM!!!

Aside from failing to open a BoA account, they snatched $60 from me, wherein I should be getting $50 from their promo. In conclusion, I got nothing good out of Bank of America.

Curses.

• $75 or $50 Bank of America Checking bonus I think that bank bonuses are heating up again. We have seen only a few cash incentives to open checking or savings accounts over the last 12 months. However, Chase recently came out with a limited $125 bonus for checking with direct deposit and now Bank of America is......
• Another Bank of America Story: Fees I've written about my experiences with Bank of America before (when they botched a large deposit/transfer) and today I have another story to share with everyone. I pay my credit card in full every month and now that M and I have a joint account, that's where our moneys get......
• My Bank of America Story So I've been a customer at Bank of America ever since I moved to the US for college (when it was called Fleet Boston) — that's nine years running now. And honestly? When I heard the horror stories of banks (like this one) hammering their customers with all kinds of......
• 4 Easy Ways to Raise Your Credit Score For many Americans, dealing with a low credit score can be incredibly frustrating. It’s tough to get any loans and in some cases, it may even affect your prospects for employment. If you’re sick of dealing with a low score, it’s time to starting putting into motion some techniques that......
• Bank Of America To Lay Off 35,000, The Weakonomist Calls BS So Bank of America plans to lay off the equivalent of a small town.  The announcement ends their calendar year on such a high note.  This year was busy for the only remaining powerhouse bank in the south with the purchase of Countrywide and Merrill Lynch. At first you......

Bailed-Out Banks Face Probe Over Fee Hikes

Bank of America is up to it again.  They really appericate your help America. They are rewarding you with higher interest rates! Up to double for some. If it isn’t enough that they lost their our money with bad business and are using tax payers money to to bail themselfs out, now they are making you pay again. Read more at the Wall Street Journal.

• My Bank of America Story So I've been a customer at Bank of America ever since I moved to the US for college (when it was called Fleet Boston) — that's nine years running now. And honestly? When I heard the horror stories of banks (like this one) hammering their customers with all kinds of......
• Bank of America Offers No-Fee Mortgages, No PMI Bank of America recently announced it is offering no-fee mortgages and will not charge for private mortgage insurance (PMI). You will not pay fees for: Bank of America will not charge for applications, appraisals, loan originations, title insurance, or flood certifications. BoA has also announced they will not charge for......
• Bank Of America and Countrywide Enter into Civil Union; Promptly Sued Here's a story I've ignored for some time on the sole basis of how scary the Countrywide CEO looks.  The thought of Angelo Mozilo gives me nightmares.  Perhaps worse than his name, is what he's responsible for.  Countrywide used to be the largest seller of sub-prime loans.  They weren't......
• Wells Fargo, Bank of America, Wachovia and Other Major Banks are Ripping You Off. Have you ever considered why you chose the bank that you bank at? Was it because your parent’s bank there, it’s close to your house, or that it was the first place you stopped at? Most of us end up banking at large mega-banks with billions of dollars in......
• Bank Of America To Lay Off 35,000, The Weakonomist Calls BS So Bank of America plans to lay off the equivalent of a small town.  The announcement ends their calendar year on such a high note.  This year was busy for the only remaining powerhouse bank in the south with the purchase of Countrywide and Merrill Lynch. At first you......

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