I discovered that our mortgage payment had been received by BofA, but not applied to the payment, which was showing as past due. I say discovered because I stumbled onto the information while looking into a payoff for our auto loan. No one had contacted us 19 days into the event.
I spent more than 45 minutes trying to find a human who could assist with the problem. I ended up with a human who might as well have been automated. After answering the 20 questions, he revealed that he was collections and could not help me. There is NO CUSTOMER SERVICE ON WEEKENDS!!! Really? The people who work in order to pay our debts are typically in need of customer support on weekends.
The problem was that the bank erroneously filed my early payment as a principal payment rather than applying to the next payment (by early, I mean on the 30th rather than the 1st). They charged a late fee and then refused to apply our payment because we had not paid the late fee.
Had there been a person to help me on Saturday, I would have chalked it up to error. After 45 minutes of growing increasingly frustrated, I have joined the ranks of customers who are fed up with BofA.
Wait time is the longest of any other banks
Customer Service reps have left me waiting various times for up to 10 minutes (which is ridiculous in this tech age)
I get nowhere half the time and just give up on my rep and call back so I can get another rep to help
Reps have outdated web help
After putting up with more and more new fees showing up, typically without explanation or advance warning in understandable English, I have come to the conclusion that Bank of America only sees my company as their opportunity to pile on more fees so as to increase their profits. When I called yesterday to complain about the latest surprise on my small business statement, I got shoveled from one person who said he did not know to another person in another department who said that she did not know to another person who finally said he had specific knowledge that this new fee was being charged in error and he could help me with it as soon as he consulted with his manager while putting me on hold. The moment he put me on hold, the lousy Bank of America call system dropped the call AND HE DID NOT CALL ME BACK. After waiting 25 minutes I started the whole process over again but achieved no resolution for my issue. I DID LEARN THE FOLLOWING IMPORTANT OPERATING POLICY FOR THE BANK OF AMERICA CUSTOMER SERVICE CALL CENTERS: IF THE CALL GETS DROPPED, THE BofA PERSON IS PROHIBITED FROM CALLING ME BACK. HE/SHE HAS ZERO ABILITY TO ORIGINATE AN OUTBOUND CALL AND FURTHERMORE THE MOMENT MY CALL GOT DROPPED, HE WAS SWITCHED OVER TO A NEW IN-BOUND CALL FROM ANOTHER ABOUT-TO-BE-FRUSTRATED-AGAIN BofA CUSTOMER.
US Bank does not operate their call centers this way. That is where I am now taking my company business and I recommend that readers of this posting do likewise.