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I hate Bank Of America

M

manlymatt83

Lifer
So five months ago I opened a bank of america checking account on top of my commerce account for the following reasons:

- I had an MBNA credit card and the banks were merging.
- BofA was more widespread and when I traveled there would be ATM's available.
- Commerce was a GREAT bank but the lines were long at my branch.

Now that I've moved, I'm second guessing my choice of using my Bank Of America account as my primary checking account. I gave up Commerce (no fees, no ATM fees, open 7 days, REFUND ATM fees that other banks charge you) because I didn't like their online banking and they aren't national, but now I'm beginning to think I was too picky.

Bank Of America charges me for every thing: I feel like there is a fee being charged just for driving up to their ATM. They charge $2 for non-BofA withdrawls (ATM), monthly mainetnance fees... they even charge to wire money!! (Commerce doesn't). The benefit? I get to use a nice online banking system, and when I travel to Boston, there are ATM's there waiting for me fee-free. Is it worth it? I don't think so!

So I wanted to ask you guys here. I think I am going to switch back to Commerce as my primary account, and I want to know from everyone: Are there any valid reasons for keeping two checking accounts at two different banks? Deep down I want to just close the BofA checking / savings accounts and switch back to Commerce and be happy again (BofA also puts ridiculous holds on deposited check! It sucks).

Anyway, advice?
 
Just close the Buttcrack Of America account.

I'm thinking of opening a Commerce account myself. There's a bunch of 'em around me here in CO.
 
I keep a separate account just for Paypal. But, there are no fees associated with that account as it is with the same bank.
 
I had Bank of America some years ago and ditched them for Washington Mutual. Been happy ever since. They did/do charge for everything.
 
Open up a WAMU account and see if you like them. Keep both accounts open for a while and feel it out.

If you're out to make interest on your money then you might want to find a credit union or another local bank, but you'll give up certain conveniences.
 
Originally posted by: Cdubneeddeal
I had Bank of America some years ago and ditched them for Washington Mutual. Been happy ever since. They did/do charge for everything.
Click to expand...

I actually considered opening up a Wamu checking account, because of their 3 cents back. The problem is cashing paper checks.... which is why I would probably keep my existing Commerce account as well. At that point, what's the point? 🙂 hehe.

Wamu seems nice though. Seems to be fee less.
 
BoA pwns. You have issues if you think BoA sucks. The only thing I need is checking + ATM. BoA gives you that. Give me the same # of ATMs and ease of access with WAMU. You can't compare. The only bank that even comes close is Wells Fargo and that is a CA bank only. Thus I go with BoA.

Why would you get charged anyways? Who in the right mind doesn't use a BoA ATM when you have BoA. If you're using another bank's ATM, you must be pretty stupid. IF you're someone who never carries cash on you, then you got issues too. I can't believe some people just walk up to that ATM machine at a store because they forgot cash and then they pay some ridiculous fee.
 
Bank of America has been good to me. Just read the pamphlet that they give you when you sign up for an account and follow those guidelines and you shouldn't have problems.

I stick with them because my parents have used them for 40 years as well as their parents, and for convenience. Haven't had one problem yet.
 
I work for Wamu and from what i hear from customers we charge considerably less fees than other banks and our recently imporved "wamu free checking" account is pretty good. No fee for using other banks atms, no charge for outgoing wires, no charge to talk to a teller, free checks, etc. Biggest problem I see is wamu's hold policy which can be obnoxious at first. For the first month you will probably have all of your checks held for 2-7 business days unless the people at the branch are nice and release them for you. If you have direct deposit it isnt a problem. Also unlike most banks direct deposit is not required to waive the monthly fee.
 
I used Bank of America (I had to when they bought out Fleet) for a few years and I was happy with their service. Most banks charge you a 2$ fee for using another banks ATM (which i think is ridiculous) and if you dont keep your minimum balance you will be charged a monthly fee for that as well..

I recently moved to CO and switched to 1st Bank cause there are no BoA's out here.
 
I have accounts with two different banks just for the convenience. Some things good about one and not the other and vise versa. I've done it that way for a couple of decades now and works fine for me.
 
Originally posted by: tigerslicer
I work for Wamu and from what i hear from customers we charge considerably less fees than other banks and our recently imporved "wamu free checking" account is pretty good. No fee for using other banks atms, no charge for outgoing wires, no charge to talk to a teller, free checks, etc. Biggest problem I see is wamu's hold policy which can be obnoxious at first. For the first month you will probably have all of your checks held for 2-7 business days unless the people at the branch are nice and release them for you. If you have direct deposit it isnt a problem. Also unlike most banks direct deposit is not required to waive the monthly fee.
Click to expand...



I have direct deposit.... what about after the first month? How long will checks be held for?

Bank of America holds my checks for days and weeks sometimes...
 
Basically after the first month or two unless you are depositing a check that is abnormally large, if you use the account and dont have overdrafts, you wont get a hold. Also if you ask the teller to ask their manager if you can have it released about 3/4 of the time they will take off the hold. Funds are available immediatly on cash deposits and checks that arent held.
 
Chase Premier Platinum FTW

I also have a WF Student account, mainly because they were the only bank with ATMs on my campus at college
 
Basically, I'll say the polar opposite of erub.

Chevy Chase has a monopoly on DC ATM's, so I have an account with them for the cash withdrawals.

For everything else, I use Wells Fargo (and bank by mail for checks).
 
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