I'm Testing Bank of America
Dec 26, 2023 03:17:25 #
Mwilliamsphotography
Loc: Royal Oak Michigan & Palm Harbor Florida
BebuLamar wrote:
I have accounts with Bank of America for many years. I don't have any fee nor have any problem with them. They just paid very low interest on my saving account but that's all.
They gave me free check as well as free cashier check when I need it. They also do public notary for me free. I have 3 accounts with them plus a credit card. I can cancel a check without fee too.
They gave me free check as well as free cashier check when I need it. They also do public notary for me free. I have 3 accounts with them plus a credit card. I can cancel a check without fee too.
Same here. Even the savings issue has been resolved with a 7 month CD that pays 4.75%.
Dec 26, 2023 04:46:16 #
nobody13579 wrote:
I don't think that that is legal in that you should be able to pay off the balance at any time without penalty.
Don't worry. They're working to correct that "glitch." We lost the ability to deduct CC interest from our income tax years ago.
Dec 26, 2023 04:47:29 #
BebuLamar wrote:
I have accounts with Bank of America, Wells Fargo, Chase, Capital One and CitiBank. I have no problem with any of them.
They keep 0.001% of their customers happy so they can say how great the banks are.
Dec 26, 2023 05:24:57 #
Can't remember how long ago it was since I've had a checking account, probably over 10 years.
Dec 26, 2023 05:25:05 #
Can't remember how long ago it was since I've had a checking account, probably over 10 years.
Dec 26, 2023 06:29:31 #
John N wrote:
Can't remember how long ago it was since I've had a checking account, probably over 10 years.
You'd better check.
Dec 26, 2023 06:31:23 #
whfowle
Loc: Tampa first, now Albuquerque
jerryc41 wrote:
Bank of America is awful. A few years ago, I was ... (show quote)
Jerry, back 20 years ago, I was managing my elderly mother's accounts and she had 3 CD's and a large savings account with BofA that she could write a limited number of checks against. All was fine as long as she maintained $20K in the savings account. There were no fees. But when those accounts went below several thousand, they started charging fees. So, I pulled everything and went with a credit union that treated us a lot better.
Dec 26, 2023 09:37:21 #
bittermelon wrote:
What's an "American Express Bank"?
Not all companies will have direct deposit. The company my wife works for didn't have direct deposit for the first two years she worked there. When they decided to do direct deposit my wife was the first one to sign on the dotted line, it took a while for the others to get on board and now they are saying why didn't they do this a long time ago.
The company is small enough that they take there employees plus one out for their christmas party, the bar is open and anything on the menu can be ordered plus they give there employees gifts and they are not cheap gifts.
Dec 26, 2023 10:08:04 #
gastech1949 wrote:
My Grandfather told me that "B of A" had changed their name from Bank of Italy to Bank of America, makes you wonder why? Said that's why he would never bank with them.
Bank of America had humble roots in San Francisco, back in the days of the 1906 earthquake there!
See: https://www.occ.treas.gov/about/who-we-are/history/1866-1913/1866-1913-bank-of-america.html
The bank's founder was A. P. Giannini, an American of Italian heritage so "Bank of Italy" seemed like a good idea at the time! Eventually, for marketing and goodwill, the bank's name was changed to "Bank of America." According to the above article: "On November 1, 1930, the Bank of Italy in San Francisco changed its name to Bank of America. The bank today has the same national bank charter number as Giannini's old bank— #13044.
When A.P. Giannini died in 1949, the former single-teller office in North Beach claimed more than 500 branches and $6 billion in assets. It was then the largest bank in the world.
A postage stamp in his honor was issued in 1974!
I have had an account at B of A for a decade and have always been treated fine. I have a number of other bank and credit union accounts here in NY and have seen beaucoup mergers and takeovers through the years; most recently Citizens Bank of R.I. taking over a dozen branches of HSBC.
Be well! Happy holidays! Ed
Dec 26, 2023 11:02:50 #
Dec 26, 2023 13:40:36 #
elee950021 wrote:
Bank of America had humble roots in San Francisco,... (show quote)
Yes, I've heard the story.
Dec 26, 2023 13:40:58 #
W9OD wrote:
No interest till 2015? When did you post this?
Yeah, that should have been no interest till 2025.
Dec 26, 2023 13:51:09 #
Mwilliamsphotography wrote:
Same here. Even the savings issue has been resolved with a 7 month CD that pays 4.75%.
Schwab Money Markets are now paying over 5%. There are other similar funds that do the same that don't require any kind of time commitment. If you needed money tomorrow you could get it. However, the 5% is not guaranteed. It may fluctuate.
Dec 26, 2023 14:08:13 #
Dec 27, 2023 07:59:19 #
jerryc41 wrote:
Bank of America is awful. A few years ago, I was ... (show quote)
I stopped using banks 30-40 years ago and opened an account at a local credit union. I have not paid any fees since moving. Checking is free and even has free checks if you ever need them. I write maybe 2-3 checks at most per year now, usually, just state or local governments who are still operating in the dark ages requiring written checks.
They also have free notary, easy-to-obtain personal and auto loans at very competitive rates. Additionally, they have CDs and other savings options that banks often do not have or have high participation fees. They also offer credit and debit card options. They also have full FDIC coverage for all deposits. The ONLY requirement is to open a savings account with a minimum of $5.
I have never regretted switching to a credit union and cannot figure out how banks still exist with all their fees and no real advantages that I can see.
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