My suggestion to everyone intending to close their accounts with BoA is to make Nov 5 their deadline. Try to have the job done before that
date...short odds their system will be overloaded that day and no-one will have access to their money!
Bank of America begged me to not to close my accounts - want to help?, page 3
privacy
reply posted on 19-10-2011 @ 05:03 PM by jaguarsky
reply to post by Tripnman
I don't have BoA accounts, I bank with what was a locally owned bank, but they did sell out to a larger one. But what I wanted to say is this, if like myself you check your balance online look very carefully. I have caught my bank pulling an old old trick of late. Back in the day they were allowed to hold your funds for 72 hour on either end of a transaction. This gave them time to use your money and earn money from it. But since ATMs, debit cards and on-line banking, we simply click on our account and there is our current balance, sans any checks that might still be out. I don't write checks btw. But now I see that some, well most of my transactions are not showing up until 24 to 48hr after my transaction. I haven't seen this for nearly 20 years.
The moral of the story is this, do not assume that your on-line acct balance is the real and timely one, even if it has been a couple of days since you used your account.. You could find yourself like me, having to pay an overdraft. I truly hate banks, always have, always will.
I don't have BoA accounts, I bank with what was a locally owned bank, but they did sell out to a larger one. But what I wanted to say is this, if like myself you check your balance online look very carefully. I have caught my bank pulling an old old trick of late. Back in the day they were allowed to hold your funds for 72 hour on either end of a transaction. This gave them time to use your money and earn money from it. But since ATMs, debit cards and on-line banking, we simply click on our account and there is our current balance, sans any checks that might still be out. I don't write checks btw. But now I see that some, well most of my transactions are not showing up until 24 to 48hr after my transaction. I haven't seen this for nearly 20 years.
The moral of the story is this, do not assume that your on-line acct balance is the real and timely one, even if it has been a couple of days since you used your account.. You could find yourself like me, having to pay an overdraft. I truly hate banks, always have, always will.
reply posted on 19-10-2011 @ 05:05 PM by mythatsabigprobe
Originally posted by Tripnman
With the Bloomberg story yesterday that is currently featured in a post on the top of ATS about BoA moving $75 Trillion in European derivatives into on-shore FDIC insured accounts
Well that right there needs to be the headline act of your letter. BofA is risking depositor's money by moving that derivative risk from their bank holding company. Steps like this are signs of an imminent bankruptcy and it looks like the taxpayers will be left holding the bag once again. Read through this thread at Zerohedge for some insight and good comments you could pass on to your bank manager. ZeroHedge
reply posted on 19-10-2011 @ 05:38 PM by Tripnman
reply to post by mythatsabigprobe
Thank you, mythatsabigprobe. I will investigate that link after business hours today. I appreciate it.
reply to post by Willbert
Willbert, you may believe what you wish. Truth is, as stated earlier, the new fees that BoA will be instituting would not have affected me in the slightest. I have never paid a fee of any sort to BoA, and that includes interest on credit cards. This isn't about protecting my assets - they're insured either way.
Instead, I made this move out of solidarity with those that would be affected by an extra $60 a year in fees just to use a debit card. I did it to show the banks that we're in control - they are not. I did it to show my friends and family that it is possible. I did do it for you and everyone else that is a slave to the financial system. I'm a very small fish in their pond, but now I don't taste so good. If enough of us to it, they'll starve. We have to stand together however - this is not an argument that breaks down to the "haves" and the "have nots". It is a battle of us versus the international banking cartels that rule our lives. You don't have to participate, but our odds increase with every additional dollar that is removed from their system. Thank you for your input.
Thank you, mythatsabigprobe. I will investigate that link after business hours today. I appreciate it.
reply to post by Willbert
Willbert, you may believe what you wish. Truth is, as stated earlier, the new fees that BoA will be instituting would not have affected me in the slightest. I have never paid a fee of any sort to BoA, and that includes interest on credit cards. This isn't about protecting my assets - they're insured either way.
Instead, I made this move out of solidarity with those that would be affected by an extra $60 a year in fees just to use a debit card. I did it to show the banks that we're in control - they are not. I did it to show my friends and family that it is possible. I did do it for you and everyone else that is a slave to the financial system. I'm a very small fish in their pond, but now I don't taste so good. If enough of us to it, they'll starve. We have to stand together however - this is not an argument that breaks down to the "haves" and the "have nots". It is a battle of us versus the international banking cartels that rule our lives. You don't have to participate, but our odds increase with every additional dollar that is removed from their system. Thank you for your input.
reply posted on 19-10-2011 @ 05:45 PM by Shadowalker
reply to post by v1rtu0s0
I believe this procedure launches on FB around the 31st.
Not exactly sure on that date but its what i always do anyway.
The $7 they charge me is a cheap ticket to get to know what i'm doing is keeping them from lending my money overnight and collecting 1.5 to 3% on it in one day.
I have also been hearing of people who are doing this when they transfer to the new bank and leaving them to clean up the account with $10 in it once the fees eat it up. Something even more cruel would be to send a registered letter to close your acct and just say "keep the change" at the bottom.
I believe this procedure launches on FB around the 31st.
Not exactly sure on that date but its what i always do anyway.
The $7 they charge me is a cheap ticket to get to know what i'm doing is keeping them from lending my money overnight and collecting 1.5 to 3% on it in one day.
I have also been hearing of people who are doing this when they transfer to the new bank and leaving them to clean up the account with $10 in it once the fees eat it up. Something even more cruel would be to send a registered letter to close your acct and just say "keep the change" at the bottom.
edit on 19-10-2011 by Shadowalker because: (no reason given)
reply posted on 19-10-2011 @ 05:49 PM by WeRpeons
reply to post by Tripnman
I had a grin from ear to ear while I read your post. Good for you! People with large business accounts can send a big message to these bankers. This is just one united stance the public is using to benefit the majority.
I hope once people see how strength in numbers can affect change, we all unite to change other unfair practices made by banks, government and the corporate elite. Power to the people!!!
I had a grin from ear to ear while I read your post. Good for you! People with large business accounts can send a big message to these bankers. This is just one united stance the public is using to benefit the majority.
I hope once people see how strength in numbers can affect change, we all unite to change other unfair practices made by banks, government and the corporate elite. Power to the people!!!
reply posted on 19-10-2011 @ 06:43 PM by MidnightTide
People keep on saying move your money to a credit union - why do that?
When this pops, do you think that fiat is going to be worth anything? By all means move your money out of BoA, their time is numbered, but man, make sure you have preps done. Food, water, ammo - get the essentials...then get some precious metals and rare colored diamonds.
Bernanke: Crisis taught lesson for central banks
Bernanke: 2008 crisis taught central banks to control inflation and support banking system
finance.yahoo.com...
Yes, they are going to try and make the people accountable for the trillions.....good luck with that Ben.
When this pops, do you think that fiat is going to be worth anything? By all means move your money out of BoA, their time is numbered, but man, make sure you have preps done. Food, water, ammo - get the essentials...then get some precious metals and rare colored diamonds.
Bernanke: Crisis taught lesson for central banks
Bernanke: 2008 crisis taught central banks to control inflation and support banking system
finance.yahoo.com...
Yes, they are going to try and make the people accountable for the trillions.....good luck with that Ben.
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