Bank of America begged me to not to close my accounts - want to help?

reply to post by Evolutionsend


That is probably more true than you realize. I was recently employed by the Wireless Industry and the carrier I was employed by included in our performance agreement a metric based on "disconnects", which in the end affected our overall performance rating. This was incredibly unfair, due to the fact that the person approached to assist the customer with that particular transaction NEVER has anything to do with the reason behind the customer's desire to stop doing business with the carrier. To say the least this lead to many a representative stating to the customer "sure, I'll be happy to help you with that", just for the customer to find out later it was never done. I know this to be fact as I've had to deal with these customers who received another billing statement for service they weren't aware they even still had. I never could wrap my head around either the mentality of company and it's unfair practice, or the poor customer service given by the unethical representative

reply to post by shell69


Most companies treat their employees more unfairly than their customers. If she didn't have some sort of a quota for each day, I would be surprised. Every person he spoke to at the bank was probably trying to feed themselves and a family. No reason to get your jollies off of them, they're just people trying to make it.

reply to post by Tripnman


I don't have any accounts with B of A, but my mortgage got sold to them a couple of years ago. Those bastards have such a rinky dink customer service center it never ceases to piss me off beyond reason! The first thing that makes me mad is that they refuse to talk to me on the phone because my name is not on the loan. EVEN THOUGH my husband has signed 2 documents that say I am allowed to discuss this account. Apparently that paperwork has been placed in file 13, I don't know. Second thing that makes me livid is our mortgage account itself. We ran up against some unexpected medical bills right around Christmas of last year. In January I called the Customer Service number to make a payment arrangement of some kind because we were pretty sure our payment would arrive over 30 days past due. I assumed it was my responsibility to do so. I literally spent 3 HOURS on the phone being bounced back and forth from department to department. I can't even remember all the places I got sent to. Stopped keeping track of people's names after about 2 hours. Finally, I just hung up cause it was obvious that nobody in any of those departments gave a fig about my payment, when it was going to be sent, whether or not it was over 30 days past due, or working with me in any form for any reason. I cared because of the negative credit mark, obviously. So as soon as we got back on our feet, we called for paperwork to refinance. Why we thought we should refinance with THEM, I guess I don't know. We just wanted to lower the monthly amount so that we wouldn't find ourselves in the same bind. Anyway, over the course of 6 MONTHS we filled out paperwork, sent it back and then got letters saying they had forgotten to send some form or another and to please sign and send back. It was unbelievable. Finally after 6 months of that we got a letter saying, essentially, "sorry, you have an over days past due payment on your mortgage account, so you don't qualify for refinancing". Seriously? After 6 months of pushing paperwork you just now figured that out? On top of that they charged us $100 for the paperwork processing and have gone as far as to threaten us on the phone with foreclosure if we don't send it along with our house payment. Um, no. I'm not sending it. Screw them!

What happens to people like us if B of A "crashes"? What happens to our mortgage? Do they foreclose on loans like in the 1930's or what?

Isnt this what causes a collapse? When people take out all of their money? o.0

My question is who is it that lets these banks do these things? Thats where the problem stems from..

reply to post by milkyway12
Yes but there are things that must happen' and no one can stop them!

Originally posted by milkyway12
Isnt this what causes a collapse? When people take out all of their money? o.0

Probably cause too much emphasis has been put into banking and not enough into cash. You are suppossed to be scared to carry more than $100 on your person, yet many states have tough gun laws and incredible waiting times.

We have to "trust" the banks and government for everything. They are our "savior"! Next thing you know everything is going to be paid by *direct deposit*; no more checks in the mail especially if you are receiving governmental assistance of any kind. I assume DD is not cheap and the sender pays for the transfer of funds so why bother?

Maybe they want a world of 0 AND 1 to be EASY to TRACK and MANIPULATE at THEIR WILL! If the ptb do not like you for whatever reason they can make your life a living hell. Forget the rfid chip cause that is not half as bad.

reply to post by milkyway12


Banks that invest the assets they hold poorly cause collapse. That's why the stock market trends are so important to people, most banks hold your money in the form of stocks so that they can make a profit from their clients combined wealth.

reply to post by Evolutionsend


They can go out of business for a variety of reasons, but more often then not its a liquidity problem rather than an asset problem. A bank can be extremely profitable and still go out of business if too many customers walk in that day demanding withdrawals.

reply to post by EarthCitizen07


One bank going under isn't a collapse though. A collapse is when the markets fall out and none of the banks can pay anyone back. If a bank wants to prevent a collapse, they invest the money in a diverse range of markets.

reply to post by Evolutionsend


So if the american government released a careless report saying many banks were in danger of default due to economic conditions, and lots of people rushed to withdraw "their" money tied up in wall street what do you think would happen?

At the very least a sign saying "bank closed for business" for indefinite time period. Government could order a freeze I guess. I am not sure. What I am trying to say is that it is good practice not to invest too much at the expense of cash availablity. The 10:1 is very, very dangerous! In europe they had *stress test* on many big banks just for this reason alone.

We've got our accounts through B of A now. So if we move, which would be very difficult to say the least, what's one account, under $10,000 going to do? I mean, its going to need MILLIONS of people doing this.... what good is it going to do? Nothing will change. They have their hands around our throats.

reply to post by EarthCitizen07


That's exactly what they would do.

reply to post by Evolutionsend


That is what happens when business writes the rules for government. They could easily have a 25% requirement and still be quite profitable. Another problem was loose lending to people who did not qualify for loans getting them with little or no collateral, the mers scandal and of course the repealing of glass steagel meaning banks could be investment brokers as well.

Too little regulation means high risk(gambling) for high profit. Worst of all the tax-payer foots the bill in such cases. About 4 trillion in stimulus packages no one other than the FED knows where it went. No jobs and more taxes....great!

reply to post by Tripnman


It's more than 10:1, because a lot of that money loaned ends up being deposited back in the bank as CASH. Which can then be loaned upon AGAIN at a 10:1 ratio. Ad nauseam!

Originally posted by backfourty
We've got our accounts through B of A now. So if we move, which would be very difficult to say the least, what's one account, under $10,000 going to do? I mean, its going to need MILLIONS of people doing this.... what good is it going to do? Nothing will change. They have their hands around our throats.

Read the post that I referred to by tripnman above, and watch the film on youtube "money as debt".

The script for that film was largely taken right out of "Modern Money Mechanics" published by the Federal Reserve Bank, Inc.

If you withdraw $1,000, you have prevented them from loaning AT THE VERY LEAST $100,000, and most probably much more than that.

Please, you owe it to yourself to watch "money as debt", and "the money masters".

to those who keep saying things dissmissing the protests as nothing much or worthless.. no one would be withdrawing money or haveing this talk if it had not been for those people out on the streets expressing their displeasure about the currrent state of things.
we owe the people out on the streets alot in that without the attention they brought to the issue nothing would have changed. unfortunately anymore it takes a huge mass of people to get the rest of us to get off our fat butts and actually do something!
ok to a certain extent i am preaching to the choir but one should not degrade or dismiss anyone or anything that is in fact getting you to do what you know should be done anyway,
this should not be a right or left political idea, every thinking person should be scrutinizing all of our governments actions they have been doing us wrong for so long now.
for that matter i will even give the tea party credit for being the first to start doing this type of thing. as much as i question why they started and alot of the things they say, in the end the people out on the streets are just honest people honestly expressing their opinions about what is being done to them.
this is supposed to be our country, all of ours, not just the personally playground of whoever can amass the biggest pile of paper!

reply to post by Greensage

Lol...Brother you are right on.
I refuse to have a bank account now also because of BoA. Five years ago, during the birth of my second daughter, I went to the ATM machine inside the hospital to check my balance multiple times, because of existing transactions that had not gone through yet, and i didnt want to get any insufficient fund fees. Well, the ATM tells you that there is going to be a $2.00 fee for withdrawing money(which i didnt withdrawl money) so I figured they didnt charge anything just to check your balance, because there were no such warnings on the ATM to check said balance. WRONG! I ended up with $233.00 in fees because they DID charge me the $2.00 fee just for checking my balance, and I spent money that I thought I had, but didnt. Because of insufficient funds. Hate the banks.

Yesterday (Wednesday) I opened a new savings account and checking account at a local Credit Union!!

I've already set up all my bill pay stuff, switched over my paypal bank account, and have my paycheck direct deposit going to my new checking account, and things like that. I'm just now waiting for personal checks and my credit/debit card.

Once I get that, then I'll be ready to close my Bank of America accounts!!

I'm interested to see if they ask why. My answer: "Your Corporate owners pushed it too far. I don't appreciate being treated like I'm lucky to do business with you. I'm here to send a clear message that it was the Bank of America corporation who was lucky to be doing business with me. The only way for them to get the message is by me closing my accounts."

I've been with Bank of America for 12 years.

My new local Credit Union is non-profit. So they don't have to answer to anyone BUT their customers. Plus it's locally owned, keeps more money in my state & county. Most importantly, FREE CHECKING!!!