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Sunday, August 14, 2011 - 8:53 PM

Bank Of America Website Gets An F!

Bank of America (1 stars)
Bank of America is our bank only because of repeated buyouts of our previous banks...and we aren't happy with it.  Finding information on their website is frustrating to say the least and when I email for information, they usually say they can't respond and I need to call someone.  Calling is just as bad because after taking a long time to get through to a person, it is usually someone who is also not knowlegeable.

Their interest rates are extremely low and getting lower.  They are the only bank I know of that can't post your monthly interest paid on CD's.  All they will do is give the balance, making it necessary to subtract each month from the previous balance to find the interest. 

They seem to purposely hide or make difficult to find any information about fees.  Try finding out what their early withdrawal policy on CD's is!   It can't be found anywhere on their website. 

The only thing preventing our switching to another bank is the hassle it would be to change all our automatic payments. 
3
IllinoisJoIllinoisJo1 posts since
Aug 14, 2011
Rep Points: 3
1. Monday, August 15, 2011 - 12:35 AM
The only thing preventing our switching to another bank is the hassle it would be to change all our automatic payments. 

As if pathetic interest rates, stealth account fee info and inscrutable CD terms and condition aren't enough to dissuade apathy, BoA has factored inertia to maintain market share despite a dearth of competitive advantage.  For some principle dictates action, but all are free to follow their conscience, especially when convenience trumps financial gain.
1
CraigPDCraigPD85 posts since
Jun 12, 2010
Rep Points: 298
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