MyBankTracker rated Bank of America based on the following criteria that includes real customer reviews and bank fees, among others. Our bank report card is a proprietary rating system that highlights the financial health and stability of the bank.
I bought my home november of 2009 and my loan was sold to bank of america. Service started off good with no complaints. After what i have experienced this year i will never ever recommend anyone to them. I have my escrow account setup thru them and taxes and insurance to be paid automatically. They failed to pay my home owners insurance on time and almost caused it to be cancelled then got a $15 late fee charged to my account.. Then they are completely screwing me over on my escrow account by dramatically increasing my monthly escrow account claiming this is the amount they need for next year which is bullshit because my property taxes dropped, h. O. I stayed the same causing my escrow payment to go up almost $160 per month and they refuse to work with me and claim according to the law they have a right to increase it as needed.. I am currently refinancing my mortgage thru another company and cannot wait to get rid of them.
I had an account for a couple years now and I just decided to close my account. They told me that I could no longer have my online banking account because it was not offered also they told me that because I was 23 I did not qualify for student discount even though I guess people only go to college until the 23. What really made me want to close it was the ridiculous overdraft charges. A whole $100 in overdraft charges for a $27 transaction talk about ridiculous. Then when I called to speak to them about it the lady I spoke to was very rude and supervise it was also not helpful at all he just kept repeating the same thing saying that when you overdraft charge they charge you a fee like I know that! I'm not an idiot.
My wife and I have been BoA customers for more than 20 years and recently tried to open a joint savings account using funds from our joint checking account. Amazingly, if you walk into the local branch, both individuals have to be present to open the joint account. Yet, if you apply online - I could open the account providing all the necessary identity verification information for both but they would not add my wife to the savings account without speaking to her by phone. Really? Can the bank not see that she is a joint account holder of the account that would have funded the savings account? Then, they ask me for my email address when I advised them to cancel the savings account application? Really? You don't see that information BoA? (You email me routinely.) The online Bank savings account processor was less than stellar, only to be matched by her manager. OK - enough of BoA -time to move to a Bank that values the individual customer.