Friday, June 10, 2011 - 12:27 PMBOA Refused Me A Savings Acct
Bank of America 
(
1 stars)
My husband and I have been with BOA since it bought out our former bank 10 years ago. We have checking and savings accounts with them plus a business account and unfortunately our mortgage.
I have only stayed with them because their online banking program is superior. They time things so if you could be overdrawn it will happen. They hold deposits as long as is legally possible. Their customer service is average for normal matters but is poor for any issues that cut into their profits.
Yesterday I used their online form to open a joint savings account with my adult daughter so we could both have access to the money for her wedding. We were declined for no reason, even though we both have accounts at BOA. We have been told to wait for a letter explaining why.
My daughter's credit score is very high and our used to be until we needed to apply to BOA for a mortgage modification. I cannot believe they would refuse to open a savings account for me. Incredible.
I am going bank shopping.
11
PetOwner1 posts since
Jun 10, 2011
Rep Points: 11
1. Friday, June 10, 2011 - 3:44 PMIn addition to FICO, banks look at ChexSystem (for number of accounts opened/Chex inquiries as well as checking account blemish - overdraft, etc.).
Rejection of account applications is fairly common these days. I would not be surprised it is ChexSystem-related, not FICO-driven.
4
51hh623 posts since
Jan 16, 2010
Rep Points: 3,066