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Saturday, August 21, 2010 - 9:14 PM
(5 stars)
Bank Of America -- Can Be A Good Bank
Bank of America (5 stars)I have been banking with BofA for many many years, from Baybank to Bank of Boston, then BofA. I have to admit that, in addition to the amazing numbers of ATMs everywhere, they also offer superb customer service (although I have to say that I am their premier member).
The bank is a good bank only when situation arises: Recently I made an error on their BillPay and paid twice (at $2,000) to one of my BofA credit card accounts. This error, in turn, created insufficient funding in my savings account. They sent me an e-mail within a day, paid the double amount even though there is insufficint fund in my account, and did not charge me a cent on the overdraft.
When I called the BofA credit card department, they initiated an ACH and returned the second (double) payment to my savings account within two business days.
And this was just one example of their excellent customer service that I enjoyed over the years! BTW, I also have their fee-free HELOC (with a huge amount), at a rate of 2.24%.
I know that BofA is well-known for their poor customer service and greediness in charging customer fees after fees. But this customer has been a long-term loyal customer and continue to be one. So far, I have only good things to say about them.
The bank is a good bank only when situation arises: Recently I made an error on their BillPay and paid twice (at $2,000) to one of my BofA credit card accounts. This error, in turn, created insufficient funding in my savings account. They sent me an e-mail within a day, paid the double amount even though there is insufficint fund in my account, and did not charge me a cent on the overdraft.
When I called the BofA credit card department, they initiated an ACH and returned the second (double) payment to my savings account within two business days.
And this was just one example of their excellent customer service that I enjoyed over the years! BTW, I also have their fee-free HELOC (with a huge amount), at a rate of 2.24%.
I know that BofA is well-known for their poor customer service and greediness in charging customer fees after fees. But this customer has been a long-term loyal customer and continue to be one. So far, I have only good things to say about them.
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2. Monday, August 23, 2010 - 9:06 AM
I'd rather bury my money in the back yard then do business with BofA.
Point well-taken.
You may belong to the majority who are unhappy with BofA. The purpose of my post is that one should experience banks on their own. Some banks may not be that bad, even there are many negative experiences from customers. BofA, in my case, really dealt with the situation with personal care and understanding. Another surprise is large banks sometimes are more generous in giving customers some "grace" as far as irregularities are concerned.
Such accommodation goes a long way in establishing good and long-term relationship with its customers. The hope is that it will motivate other banks to treat their customers with a such personal touch.
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