Bank of America

2 ratings since posting on Wednesday, November 15, 2006
Bank of America
in Los Angeles
website
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Overall Rating

***oo

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Linda
Linda
offline 98
*****
Best Bad Bank Alert!!!
Stories like that, make me glad that I use a Credit Union. A very good alternative to the Big Banks (we know who they are), is to look up a good Credit Union in your city. They all have different ways you can qualify for membership. Sometimes, all you need is to live, work, or worship in the city in which the Credit Union is located. My one complaint is, that there aren't more ATMs around which are free to customers of my Credit Union. Can you say, "I am VERY glad I have a Debit Card I can swipe when buying groceries? And that (shhhh!!) asking for "cash back, please" at some grocery stores, is a great way to avoid ATM fees? This works well for when you need small amounts of real cash, say $20, and not everybody accepts Debit cards!) - Linda , posted 11/15/06
*oooo
Bank of America loses $50 million from customers upset by false arrest
In August Matthew Shinnick sold a pair of bikes on Craig's list for $600. After shipping the bikes, he received a check for $2000, not $600. The buyer explained that the extra money was for shipping costs and for his "trouble."

Shinnick was suspicious, so when he went to a San Francisco branch of Bank of America to deposit the check, but expressed concern that the check might not be good. He asked the teller to find out before depositing it.

"The teller contacted the business and was informed that no check had been written to Shinnick for $2,000 or any other amount. She immediately passed the check to the branch manager. "I saw him talking on the phone and staring at me," Shinnick said. "A few minutes later, four SFPD officers came into the bank. They didn't say a thing. They just kicked my legs apart and handcuffed me behind my back." The police report for Shinnick's arrest says he was taken into custody "for the safety of the bank employees as well as the bank customers." -- SFGate

Shinnick was hauled to jail, stripped of his clothing and put into an orange jumpsuit. His father posted $4,500 bond to spring him. Shinnick ended up spending $14,000 to get out of the mess Bank of America caused.

Bank of America refused to reimburse Shinnick, and so Shinnick took his story to a consumer advocate radio show host, Clark Howard. Lots of Bank of America customers were disgusted by BofA's callousness and have closed their accounts with the bank. Howard says they've pulled $50 million from B of A.

I almost wish I had an account with BofA so I could close it in protest, but I closed my account with them long ago because their service sucks. If you close your BofA account because of this, please email me (mark@boingboing.net) and tell me how much you pulled from the account (I will not reveal your name, or course). I will keep a running tally.

This is Broken has the full story, with relevant links. Link - , posted 11/15/06

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