Airstud
Topic Author
Posts: 4717
Joined: Wed Nov 29, 2000 11:57 am

BofA customer, waiting for the other shoe to drop

Fri Feb 22, 2019 4:22 am

When I moved to Minnesota in 2010, Bank of America had no retail banking operations here, and ostensibly they weren't about to: As a Big Four, they weren't allowed to do any acquisitions.

Nonetheless, they seem to enjoy being in the credit card business and in 2012 they offered me (ok, "pre-selected me to apply") for their Bankamericard® Platinum Plus Visa. With 18 (eighteen) months of 0% APR for balance transfers, price protection, warranty-doubling, auto collision waiver and no annual fee, it would become my first ever non-kiddie, non-subprime credit card. (Plus they let me pay by mail which means more trips to post offices :biggrin: .)

On three occasions I've had to call their customer service people, and I got people - not a blood-boiling "voice recognition" catastrophe, but real live people. On all three occasions the quality of the service was decent and on two of them it was exceptional.

For the past couple of years they actually have been getting into the retail banking game in the Twin Cities, doing what I never expected I'd see a big or even mid-sized bank do: Spend money on de novo branch construction. They're now in Uptown Minneapolis, Wayzata, Maple Grove, ever-expensive Edina, Highland Park St. Paul, Minnetonka, West St. Paul and probably others...

They had a deal coupla years ago where if you open a checking account and have direct deposits totaling $4,000 in x number of days, you get $300. Three hundred green samolians they just throw at you - I took that deal and of course pocketed the dough. I opened the account at the Wayzata branch and again the customer service was superb.

People. This is Bank of America, we're talking about. One of the Big Four. One of the vile, despicable Big Four. One of the gross, slobbering, heavily-breathing, trail-of-slime-leaving, stinking, rotten, vomiting, vile Big Four. I work for a large bank myself and I notice they never miss a chance to nickel-and-dime anyone, including their employees - while some companies want to pay their employees as much as they feasibly can, the bank I work for is clearly finding a way to pay as little as they can get away with.

I don't know how it is for Bank of America employees, but I have to honestly wonder if they're making a significant investment in customer service improvements. For this here customer - credit card, checking, savings and God help me they now have me thinking about refinancing my car loan with them - it seems like they're going for maybe a "gentle giant" type image.

They've been very, very, good to me.



And I don't buy it.

I mean, it's Bank the hell of America, man!! Of the tribe of zillion-dollar, five-thousand-branches, steamroll-over-the-little-guy, megabanks!!

What's their game, do you think? :scratchchin:
Pancakes are delicious.
 
NIKV69
Posts: 12777
Joined: Wed Jan 28, 2004 4:27 am

Re: BofA customer, waiting for the other shoe to drop

Fri Feb 22, 2019 4:26 am

I tried them and they were horrid. Gave me a 500 credit line that I maxed out and paid off right away then they closed it due to me not using it. Very happy with my local Community bank. TD and Wells Fargo. Keep us posted.
Nikon from day one, Nikon till I die.
 
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Moose135
Posts: 3073
Joined: Mon Oct 04, 2004 11:27 pm

Re: BofA customer, waiting for the other shoe to drop

Fri Feb 22, 2019 4:54 am

I've been a BofA customer since they acquired a bank I was using some 15 or 20 years ago. I've never had any problems with them.
KC-135 - Passing gas and taking names!
 
mham001
Posts: 5622
Joined: Thu Feb 03, 2005 4:52 am

Re: BofA customer, waiting for the other shoe to drop

Fri Feb 22, 2019 5:33 am

I really don't care how much they smile as they steal your money.
 
Airstud
Topic Author
Posts: 4717
Joined: Wed Nov 29, 2000 11:57 am

Re: BofA customer, waiting for the other shoe to drop

Fri Feb 22, 2019 5:42 am

I suppose it is possible they are spending more heavily on customer service in Minnesota - and that even me being a Minnesotan is why I was offered that plum credit card that maybe I wouldn't have been offered otherwise - while they build out here; then once their Minnesotan customer base is sufficiently borg'ed, they might make cuts until it's the same blah bank I'd previously thought it to be...
Pancakes are delicious.
 
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trpmb6
Posts: 2766
Joined: Thu Apr 19, 2018 5:45 pm

Re: BofA customer, waiting for the other shoe to drop

Fri Feb 22, 2019 3:17 pm

I keep my money with multiple institutions. BofA has never really been bad to us. They're fraud department is good, they've stopped things before we even knew they were charged. But for most things I prefer a credit union.
 
Brick
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Joined: Wed Aug 04, 1999 11:08 am

Re: BofA customer, waiting for the other shoe to drop

Fri Feb 22, 2019 3:20 pm

mham001 wrote:
I really don't care how much they smile as they steal your money.

And how exactly is a bank "stealing your money"? If you say anything about out of network ATM, overdraft, or returned item fees, these are completely voluntary fees.
A noble spirit embiggens the smallest man...
 
bhill
Posts: 1659
Joined: Thu Sep 13, 2001 8:28 am

Re: BofA customer, waiting for the other shoe to drop

Fri Feb 22, 2019 7:32 pm

Fuck Banks....Since the 2008 Crime of the Century, and not ONE of the Banksters went to prison, my business is with Credit Unions. And if I had a choice as to which company bought my VA re-fi, I would have kept it out of Wells Fargo's hands as well!!
Carpe Pices
 
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casinterest
Posts: 9408
Joined: Sat Feb 12, 2005 5:30 am

Re: BofA customer, waiting for the other shoe to drop

Fri Feb 22, 2019 8:00 pm

BofA makes money. For a consumer some of the deals seem good, but if you are a bit negligent or otherwise you will get hit with fees.
BofA makes much of their money from interest oriented services such as credit cards, loans, home loans, car loans, HELOCS. It pays to offer good service to good customers because they will refer their friends, and whether it is someone that doesn't pay of the credit card every month, or someone that needs a loan, they will make their money by smiling and loaning to you at the amount the government will let them.

I banked with amsouth, which got bought by nationsbank which then merged with BoA back in the day.


Now, I am just a credit union user as they pay better deposit fees.
Where ever you go, there you are.
 
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ER757
Posts: 3519
Joined: Tue May 10, 2005 10:16 am

Re: BofA customer, waiting for the other shoe to drop

Fri Feb 22, 2019 8:02 pm

Have had my checking account with them ever since they took over the bank I was with in Seattle back in the 90's. I have never had an issue with them. When someone stole my checking account # about 10 years ago, BoA couldn't have been more helpful in closing the old account, opening an new one and even getting me free checks. Of course I almost never write a check anymore so I still haven't run out of them.

On an un-related note, but since it has to do with banks, I'll post it here anyhow - Capitol One sends me a credit card offer in the mail at lest twice a month for the past five years or more. I even called them about two years ago and asked them to please stop, that if I wanted one of their cards I would have replied by now. They assured me that they'd quitecoming within 30 - 60 days but still they come. It's almost harassment at this point. - Rant over
 
Airstud
Topic Author
Posts: 4717
Joined: Wed Nov 29, 2000 11:57 am

Re: BofA customer, waiting for the other shoe to drop

Sat Feb 23, 2019 12:24 am

casinterest wrote:
BofA makes money. For a consumer some of the deals seem good, but if you are a bit negligent or otherwise you will get hit with fees.
BofA makes much of their money from interest oriented services such as credit cards, loans, home loans, car loans, HELOCS. It pays to offer good service to good customers because they will refer their friends, and whether it is someone that doesn't pay of the credit card every month, or someone that needs a loan, they will make their money by smiling and loaning to you at the amount the government will let them.

I banked with amsouth, which got bought by nationsbank which then merged with BoA back in the day.


Now, I am just a credit union user as they pay better deposit fees.


I thought AmSouth got bought by Regions.
Pancakes are delicious.
 
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casinterest
Posts: 9408
Joined: Sat Feb 12, 2005 5:30 am

Re: BofA customer, waiting for the other shoe to drop

Sat Feb 23, 2019 4:59 am

Airstud wrote:
casinterest wrote:
BofA makes money. For a consumer some of the deals seem good, but if you are a bit negligent or otherwise you will get hit with fees.
BofA makes much of their money from interest oriented services such as credit cards, loans, home loans, car loans, HELOCS. It pays to offer good service to good customers because they will refer their friends, and whether it is someone that doesn't pay of the credit card every month, or someone that needs a loan, they will make their money by smiling and loaning to you at the amount the government will let them.

I banked with amsouth, which got bought by nationsbank which then merged with BoA back in the day.


Now, I am just a credit union user as they pay better deposit fees.


I thought AmSouth got bought by Regions.

You are correct. i forgot about my switch to Barnett , which was bought by NationsBank.
Where ever you go, there you are.
 
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Super80Fan
Posts: 1622
Joined: Thu Jul 06, 2017 4:14 am

Re: BofA customer, waiting for the other shoe to drop

Sat Feb 23, 2019 5:20 am

Dumping them as soon as I can, currently have a student account and I am not going to be with them long enough for them to charge me a monthly fee for the "pleasure" of having an account with them, when my Credit Union and brand new Ally account charge me $0 to have an account with them, even if I have $0.01 in the account.
RIP McDonnell Douglas
RIP US Airways
 
mmo
Posts: 1810
Joined: Thu Apr 18, 2013 3:04 pm

Re: BofA customer, waiting for the other shoe to drop

Sat Feb 23, 2019 6:09 am

I have been a USAA Federal Savings Bank customer for years, and a USAA insurance customer since 72. I have lived all over the world and have used them. They are only a phone call away and nothing is impossible, I don't think the word 'NO' is even in their vocabulary. No monthly fees, if you get charged for using an ATM you are reimbursed 100% for the first 10 transactions/month. I also use the Delta Community Credit Union, almost as good, but they charge a small fee for international debit/credit transactions where USAA there are no fees and you get the spot exchange rate rather than the tourist rate. Can't beat that.
If we weren't all crazy we'd all go insane!
 
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cranberrysaus
Posts: 227
Joined: Thu Jan 11, 2018 5:34 pm

Re: BofA customer, waiting for the other shoe to drop

Mon Feb 25, 2019 5:17 am

All the big banks are trash. I always say stick with a good local credit union. Better service and rates and they can usually offer you good deals on insurance as well.

I guess the exception to that I always hear is USAA, but of course you'd have to be eligible to bank with them.
 
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trpmb6
Posts: 2766
Joined: Thu Apr 19, 2018 5:45 pm

Re: BofA customer, waiting for the other shoe to drop

Mon Feb 25, 2019 4:27 pm

An addendum to my previous post. We used BofA for our original home loan when we didn't really know any better. The rate was good of course, but we were young and didn't really know how the industry works. Fast forward 2 years from that point and our loan was sold to another loan provider... and then again a year later.

At that point we were fed up with it because the last one didn't even provide online services. So we refinanced, got a much better rate and went to a 15 year loan. (At this point we were much more financial savvy and further in our careers). We went with a credit union who advertises that they will never sell your loan to another provider. That is all you had to say to win my business imo.
 
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Channex757
Posts: 2364
Joined: Sat Jun 18, 2016 7:07 am

Re: BofA customer, waiting for the other shoe to drop

Tue Feb 26, 2019 2:05 am

I know it's a different country and different banking system, but I'm the same. A couple of years back I thought about changing banks as there was a branch of RBS locally.

RBS!!! That one, with the garbage ratings and nightmare stories.

So I started the online apply process. Got an account set up straight away with a VISA debit card. It then asked me did I want a credit card. Result! RBS Low Interest Platinum.

Within days the paperwork, welcome pack, cards and online banking details started arriving. Ever since it's been faultless. So where does it all go tits up for me....?

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