Since Biden took office, there seem to have been more unfavorable results in America. I am really worried about the current bank crisis/interest rates, these are all the signs of yet another 2008 market crash 2.0 , so my question is do I still save in the United States dollar or is this a good time to buy gold?
It’s always a good option to keep some gold. Well with the current market situation and everything at stake with the present economy, I’d say you’re better off staying away from stocks fr awhile or better still reach out to an adviser for guidance.
Yeah, a lot of folks overlook the role of asset managers until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $550k so far.
I personally work with ‘’Sonya Lee Mitchell” she covers things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk. many things like that. yeah
I appreciate when Company Man makes these "Why They're Hated" videos, he doesn't oversell it or exaggerate he just reports information without piling on to it.
They had my elderly mother who writes one check a month on an account with an insane monthly service charge, like $15 or something. Thankfully I started handling her finances and got her to a credit union. Wells Fargo was just as bad. I cancelled my service with WF when the account fraud scandal hit. I only do business with my local credit union now.
Well Fargo got me when I was 10 with a 5 dollar a month fee for not manking auto deposits. Like wtf this account was supposed to teach me to save, it taught me to loath most banks.
I personally like Bank of America. I’ve been with them over 12 1/2 years and haven’t had any issues with them. Customer service has always been a great experience ever since opening my account. I understand not everyone has had a great experience with BofA and that is why some don’t like BofA.
Hubby and I have had Bofa for 16 years and we've never had a problem. We have direct deposit and we have more than 3 bills set up for auto pay. We've never paid a fee with them, at all.
@@jennahenry4426 I had the opposite experience. They emptied out an account I had with them with "service fees" that were about $14.00 per month. They added up over time and next thing I knew I had a negative balance. I had no idea about the fees until they sent me a letter stating that I had a negative balance that I needed to fix. I fixed it and closed that account and refuse to do any business with them unless I absolutely have to.
@@abelreyna8781 Maybe it depends on the location? They basically are like a huge franchise that have different people running different regions. I am in Florida and in college, so I have not been hit with crazy fees or poor customer service in my 6 years with them.
@@onpoint2292 I'm sure with such a large bank it's different in some areas. It's just that it seems that every one in the Houston area that I've ever been to is crap.
The very same folks in Washington that fined banks for not lending enough in minority neighborhoods also fined them again for "predatory lending." The only people who weren't punished for the crisis in '08 were the politicians whose policies actually created the crisis to begin with.
My experience with BOA has been pretty good, we’ve been using them as our primary banker since landing on American soil in the 80s 🤷♀️ I only bank through their app and it’s pretty easy to use and my only thing is they call me once every few months to see how my family is doing which creeps me out a bit.
@@Nicholas-f5 I was aware of our reputation before this video but working for BoA is actually not that bad at all. Great pay and great benefits. They take care of you and are flexible if you have COVID or if your Center is shut down because of it. Little stressful right now because of COVID and lots of people on unemployment but makes me even more appreciative of my job. I’ve heard great things about credit unions and wouldn’t mind joining if the right opportunity comes along.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
**account at $2.13** BoA: oh you’re below the minimum requirement on your account, so you’ll now incur a $35 fee. Oh you’re now negative on your account because of our fee? You’ll now incur a $35 overdraft fee. But thanks for choosing Bank of America :)
@@shyguy_4 Some low-monthly-fee accounts have a minimum account balance to prevent a low-account-balance fee that, if it throws your account into overdraft, may incur an overdraft fee and can also incur an NFS fee for the initial fee.
I told Wells Fargo I was leaving them for their terrible customer service and charging me bogus fees for 10 years, that I was going to Bank of America. They laughed. I didn’t realize that BoA was even worse.
I hated BoA when I had them for a short time -- they apparently charged fees onto my account even after it was closed, which caused a bit of a headache later on. I ended up opening an account with Regions, which I was very happy with but had to close when I moved out west. After having a terrible time trying to open an account with Chase, I ended up giving up and opening one with Wells Fargo, and I have to say, all their scandals aside, I've been surprisingly really happy with my experience.
I held a vice president title with Bank of America. I was a branch manager. I left in 2009 due to a health issue, but I can tell you all this: as bad as the company treats it's customers, which is quite bad, they treat their employees much, much worse.
@manleybadger8311 . . . I believe it. My late dad worked for 10 years at a B of A branch in California, but this item of World War II came along and he was drafted in the US Army and was discharged from his military service in 1946. Upon his return to civilian life, his old job was waiting for him, *at starting pay!* That made him furious and walked away from it. But, I suspect there were extenuating circumstances of that low-ball compensation package. My dad had some [ahem!] _issues_ when it came to being sociable, where the staff at that B of A branch didn't want him to come back; hence, make him an offer he'd refuse.
I remember a few years ago. Bank of America tried to foreclose a home they did not own. The owners sued the bank and won. That bank later closed in that town. lol
My dad worked at BoA for 15 years, he was approaching the amount of years needed for a pension so one day they just said he stole money from them and fired him so they wouldn't have to pay out the pension, we were a middle class family, my dad had no reason to steal. He's worked for Apple ever since and loves it
They lost me as a customer when I worked for a staffing agency that didn't offer direct deposit. I was running $2,000 through the account every month, but since it wasn't direct deposited they charged me a monthly fee. I went to a credit union, and never looked back.
I closed first when change. I think it’s $15 for a month. You can’t have less than $5-10k I don’t know or get fee. Basically don’t want poor cause so big.
I went to BOA for a home equity line of credit. I was approved and ready to go, but then it came... they wanted me to get flood insurance for my house. My house is not in the flood zone and in fact, it sits on top of a hill. But they insisted. I said, ciao! Went to the credit union and got what I wanted without flood insurance.
They were always trying to nickel and dime. They sent out a letter to me saying that after a certain date, if I wanted to continue to have free checking needed to have a combined balance of $10,000. I went across the street to another bank.
About 25 years ago, BofA managed to empty my account through a teller error, totally unbeknownst to me. It took them a month to get my money back, and that was after I had to threaten them with legal action. So yeah, I hate 'em.
I closed my checking with them a few years ago. Went in person to the bank, closed it and transferred all my money out to another bank. Soon after I get a notification that I got charged a fee for being under $35 then I got charged again because it went into the negatives. Had to call them to remove the fees and finally close the account. Cause I guess the first time didn’t count.
that actually happened with me with US Bank i went down to close my account and kept getting emails and letters that were basically ads I called and confirmed my account was closed and opted out of any further advertisements it stopped for a few months but started up again a year later and when i called again they said my account was still open and never closed
This bank made me hate them even more when they decided to just shut down my account for no apparent reason, and when I went to the bank to get help the lady just flat out ignored me.
Had a BOA account once .. went to close it. They told me there was a $35 fee to close my own checking account. I complained and the Bank MGR told me she would waive it. When I cashed out, I noticed the $35 was taken out. The same Bank MGR in a snarky voice told me, “oh I’m sorry I can only waive the fee for CURRENT customers which is not you.” I will NEVER EVER give them another dime.
I almost forgot - They charged me a fee as well to close it, THEN they didn’t do the math right and gave me a dime over. So they mailed me a NSF charge along with another fee. When I explained that the teller did that, they kept insisting I owed them money. It was a HOT MESS. So glad I left them.
I had a very hard time closing my account with Citibank, a business account. The reason is that banks like to hold onto their accounts since it generates fees and it takes 7 years to break even. So BofA is not unique in this racket. Recall the Wells Fargo scandal too, bank managers get rated on how many accounts they have.
I remember hearing they would post debits and credits in certain orders so as to rack up the overdrafts... like big charge first, clears you out, bunch of small charges, overdraft for each, then your check comes in and you got like $5.00 left over after. Lol... think there was a class action lawsuit years later over something like that but not sure.
They did that to me. Their policy was to process withdrawals before deposits. I deposited in an ATM on a Friday night, and got NSF charges for everything I spend the rest of the weekend. There aren't many companies I hate more than BoA.
They told my mom, who was dying of cancer at the time, that when she died they would immediately foreclose on her home and they said it in the meanest, nastiest way possible. Well, we had an out for that, but now in any setting I write where I can Bank of America goes out of business in the worst way I can possibly imagine.
When I hear Bank of America I think of bad customer service and bad customer support. Instead of helping me they argued with me refuse to help me I had to drop them trash ass bank
I needed a cashier’s check to pay for my work authorization application in the US. I went to BofA and paid $15 to get the cashier’s check. After I went home, I realized that the teller forgot to sign the check. Can you imagine a bank forget to sign a cashier’s check? I could have lost my legal status here in the US because of their stupid mistake.
you walk in and see the bank manager and loan officers sitting at their desks while there is only 1 teller at front and a line of customers all the way outside the door
I spent my career in Banking/Finance, and unfortunately, this was true too often. The Manager and Loan Officers, and Assistant Manager wouldn’t be there to hear the customers complain about the line. They were in charge of scheduling, and would always under schedule. Nothing is worse than being a Teller and seeing a line out the door. Or slaving away to meet a Loans funded amount and then they RAISE the goal. Surviving a downsizing AND a merger, only to find out that you thought you were working hard before, you are really working hard to replace all those people just laid off.
So once upon a time, I opened a BoA account in Georgia. When I moved to California, I learned they didn't treat the accounts the same. I could put in a cash deposit in my account in California, and it would take 3 days to show up in my account. BoA suggested I close my account, and open a new one. So I did that, I opened an account at a great Credit Union in the area. I think they meant for me to open a new account with them, but if they couldn't handle accounts between states, I had no interest in using them.
That specific issue goes to old regulations of interstate banking that didn't allow banks to cross state lines. So you had separate banks of the same name owned by the same company legally required to be operated separately. IIRC, the regulation still exists but now allows for more integration into a parent bank. You may notice the N.A. (not affiliated) designation on your checks, if you still use them.
@@SimonTekConley even today in (2021) acquired banks have to be operated separately. Your Georgia account was likely a Nations Bank account and the California was a BofA account which operate in 2 different federal reserve branches. Separate banks owned by the same bank holding company. The Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (Interstate Act) allows banks to branch across state lines. Section 109 of the act, however, prohibits a bank from establishing or acquiring a branch or branches outside its home state, pursuant to the act, primarily for the purpose of deposit production. Not something that a general consumer should want to know. I remember when ATM networks didn't operate in more than a few states. If your ATM card was issued by a bank on the MOST® network, you couldn't withdrawal money from an ATM on the Cirrus® network.
@@Drknnja ahh. Strange though, I currently live a different region of the country, and bank with a different bank, a regional one. I've never had issues depositing money into the account while if another state with this account.
BOA foreclosed many homes back in the recession, including our home.. I remember my parents going to a convention in Los Angeles that helped homeowners fight for their homes and the reps from BOA never showed.. We lost our home soon after. To this day it still hurts. I know my parents haven’t recovered from that hurtful loss. Especially as immigrants coming to America for that “American Dream” of owning a home.
My grandfather lost 3 houses due to wrongful foreclosures. We spent 10 years and tens of thousands of money on a lawsuit and lost. I completely understand your pain.
All companies have started with good intentions as they grew up in a generation with higher moral values and standards. Fast forward to today as those older people pass on and the younger generation that grow up in a morally declining society take the company and steer it to greed snd self serving.
@@autonomousglisteningwater2286 that's what happens when you hand the reins over to entitled boomers and greedy Gen Xers who came of age at the height of 80s hedonism, who run the companies today.
It's always the same: we make something to help people, Americans wipe out our history, painting a totally American background and start turning the company to a making-money machine just for their profit. Isn't that the only word that matters in America? Profits? I have to ask Americans if human lives are profitable. Their answer will be spectacular awkward. 😑
There was an old Washington Mutual TV ad, which had this bank teller guy charge a customer for his outbursts, which had several verbs and pronouns in it.
As someone who got his education in finance, I can tell you from the inside BoA was not allowed at our job fairs. JPMorgan? Sure. Goldman Sachs? Welcome! But BoA was known for not being good to our grads so they were blacklisted.
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You have to get direct deposit to avoid the fees of their basic accounts, or did when I worked there. If you lose your job, they IMMEDIATELY start nickel and diming you to death. I have no clue why people use them. Or Wells Fargo.
literally every bank does that now, only ones I have found that don't are credit unions and capital one, which doesn't have brick and mortar locations you can just walk into.
Seriously, I got bitchy with customer service about that and the guy couldn’t explain it to me (he wasn’t just some worker fielding cs calls, he worked in the bank/with boa)
My mortgage was sold to boa years ago.Tried everything they could to foreclose.Charged me $15.00 fee every time I called in to make a payment. Didn't realize so many others hated boa. I belong to a wonderful credit union now.
Since they had trillions in assets why did they or their number ever receive bailouts? Politics, that's why. The rest of us have to sell assets to balance budgets.
To be honest I have information into your question. BofA never wanted to take the 45 billion bailout money because they didn't need it. Taking it was forced upon them by the government and they paid it back as soon as the government allowed them to with interest. There were no payments made over time to payoff the bailout money, just one check written and done. BofA was well positioned for the 2008 recession as I a shareholder was informed.
@@keithwalker5696 indeed. Unfortunately a lot of other people didn't have the ability to pay back anything. The system looks out for itself regardless even if those parties involved were responsible after the fact.
As Kenneth Walker said, the federal reserve did not want the public to know who needed the loans so they compelled all of the majors to take loans.that way, there would be no runs on the weaker banks. That’s how the story goes anyway.
Hmm yes some gaming company that makes games with microtransactions and killed a few game studios is a bigger evil than the biggest banking company in America that proves to screw over millions of people
That's because the website that does that poll is relatively unknown and it was spammed across forums like reddit and 4chan to vote for EA, it doesn't mean much. Nobody's heard of 'consumerist' besides this poll and they stopped posting anything in 2014.
Agree 😡 They kicked me out & closed my account, I call ask but never got the answer,they said can’t tell & give me the reasons. I have no money to pay bills and mortgage, it took them 4 or 5 days to get mine check in the mail. By the way I have good credit 850, hardly missed any payment. Now I’m with Chase and happy, everyone there nice 👍
I remember opening an account when I was 12 with $25. Then they started charging me a $2 monthly fee. That was back in the late 80s and it still irritates me today.
I hate them for the mergers. I've watched as most of the banks in my area were gradually bought by BofA and eventually they bought my bank. I dislike that so much of their growth has been about mergers and acquisitions rather than actually being a good bank.
I fell the same way about T Mobile taken over Sprint. I’m not a T Mobile fan. They had the nerve of raising my phone bill by $10 dollars with all these fees. They said they would not raise my phone bill, but they increased the fees. Oh and by the way, I have no problem with BofA. I have been a customer for 15 years. It might change in the future, but not now. I just wanted to complain about T Mobile. I miss Sprint.
I 100% recommended a credit union. My local credit union is awesome and there’s no account fees or any dumb stuff like that. I can’t believe ppl actually pay for fees
Agreed. The best way to stick it to the big banks is to take your money elsewhere. I've noticed some credit unions are starting to form networks, which helps alleviate the problem of the big banks nicking you for ATM fees when you're traveling.
I will never use a bank. Credit Unions have better fee's and rates, don't charge weird penalty fees just to generate revenue for their investors, and are owned by the members. They're there to serve their community, not a large collection of miscellaneous investors.
My credit union had overdraft fees back in the late 2000's, so it used to be no different than Bank of America. Happy to say they've changed their ways since, and now they're amazing.
This video is so timely, I was going to open a bank account in Bank of America but something went wrong and the customer service agent opened the account for me in a very weird way and not in the way I intended to so I just ended up closing it and choosing a different bank lol
@@GOLOSA8623 my aunt used to work for them and she showed me how to do the scams they use to go for but I can show u myself rn jus once u do it jus send me my cut I need no account details or payment upfront
I had 2 BoA credit cards. One was closed. The other they reduced the limit from 25k to $1000. No warning. No letters. Nothing. I was never late paying any of them. Needless to say I'm no longer a customer.
I came to dislike them after they started charging their customers an ATM fee of $5, even when the customer was using a BoA ATM. Makes me glad that I never did business with them.
I don't live in Pennsylvania anymore but I used to be a PNC customer. At the ATMs near my place, at least that I remember, had no-fee ATMs even if you were not a customer of theirs. It seems like a good way to build trust with future customers.
I never recall getting charged for ATM fees when using a BOA machine. Grant it, it's not that much as I mostly use grocery stores to get cash back, but I just checked and noticed I didn't get charged for the ATM transaction I had at a BOA machine a couple of weeks ago.
BoA ended up owning a number of foreclosed homes in my neighborhood in the wake of the 2008 subprime thing. They sat unsold for years, with some even still unsold to this day (in a pretty damn sorry condition at this point). BoA also had a habit of simply not cashing my Sister in Law's parents mortgage checks, and trying to hold them responsible.
I was an intern there just when I turned 21. They treated me like shit and didn’t care about my mental health when I worked at the call-center I still bank with them but that’s only because I don’t have the energy to go through and change banks, I hate it there.
I work in the industry as a competitor of BofA. BofA’s nickname is the bank that keeps on giving (as in always giving away their clients bc of terrible service).
Yup. I worked at USBank call center during recession. We had weekly meetings on how they were planning on getting around laws being made to keep banks from gouging customers. If the banks had their way we would still be in a recession.
Former employee here and I can definitely attest to this fact. A few reasons is because they don't care about their customers. They will literally close down branches with high traffic volume if they don't meet their sales. Nothing else matters. Great surveys, good feedback, great customer service, NOTHING. If it doesn't relate to them opening an account(s), credit card(s), auto loans, mortgage, app, they couldn't care less. They literally trained me to not apologize to anything because "it admits fault" not even joking, my corporate trainer from NY told me that
I believe you and it sounds about right regarding their lack of customer care. They'll NEVER steal any more of my money ever again. Worst bank I've ever had the misfortune of doing business with.
Yeah they closed the only branch I could walk to and had the only ATM that always worked, now I either have to drive a couple miles or hope the shitty ATMs are actually working
@@Karmy. doesn't surprise me. They close down branches even if they hit 75% off their goals. If you opened 100 accounts in Q1 of last year and "only" opened 80 accounts the next year, they consider that a bad drop-off, you sit down in a meeting, and they ask you all types of questions about how you failed
I went to BofA last week to process a wire transfer. I was told that it couldn't be done for 3 days, as they had no banker appointments available and tellers can't do this. I went to Chase and had it done immediately...by a teller. Imagine that!
I had a credit card with them for over 20 years. Then they closed it and never told me why. At first I was pissed, but it didn't affect my credit score much, so I'm pretty happy about now.
Credit score is supposed to determine how much of a risk you are. They look at income to debt ratio (too high = bad risk), how much credit you have available to you (having lots of credit available looks good), if you pay your bills (and if the bills are paid on time), and what kind of debts you have (revolving credit vs loans). Part of the trap is that having no credit score is often treated as worse than having a bad score...so you're forced to borrow money to build up a reputation so that when you really need that big loan, you'll be able to a) be approved and b) get a decent rate.
When I was 18, I got a job at a call center which outsourced BOA customer service to people who got little training for $8/hr during the recession. The amount of fees, theft, etc was ridiculous.
The vultures would take out my checking account charges and would issue a $36 overdraft fee per transaction before deposits were counted. Imagine depositing a check on Tuesday and seeing charges you made on Wednesday count as "overdrawn" because they hadn't processed your Tuesday deposit yet. It was infuriating.
a similar incident happened to me several times when I was with boa...I've been with Wells Fargo when they were Southtrust in ga. and in spite of their reputation, I haven't had any issues with them
"Why they're hated" Umm, could it be because they acted like crooks back in 2008, have ridiculous fees, and send your personal data to the federal government w/o your consent or knowledge?
Fun fact: mortgage loan originators do not need to be licensed if they work for depository institutions (banks that do checking/savings) However they do need to be licensed if they work for non-depository institutions (brokerages, stand-alone mortgage companies etc...) -a guy taking his exam to be an MLO in two weeks
Bank of America actually didn't do anything wrong in 2008. It's not like every bank in the entire country was involved In fact they "helped" save the economy when they were forced to buy Meryl Lynch by the government.
I was laid off from BofA a couple years ago. Best thing that ever happened to me! I discovered tons of other jobs out here in Orange County, California. They Pay twice as much, no micro-managing, and no Nazi managers controlling my every move! Thank you God!
Ahh yes that’s more recent actually Like really? And the sad thing is some people actually support that because the people they’re ratting out are “insurrectionist” And we wonder how people allowed the Nazi’s or Soviets to take over and kill millions
@@1CE. there was no proof that those who were ratted out where insurrectionists. They just happened to have made transactions in Washington DC on certain dates, which in of itself is not criminal. Not everyone who attended the protests were violent nor did they commit any crime. Some in the crowd were trying their bests to stop the vandals from breaking into the Capitol building, but were unfortunately outnumbered and overpowered. Point is that BoA should not be freely handing over their customer’s private information over to law enforcement of any kind without a court order. They’re FDIC insured so the whole “they’re a private company and do whatever they want” fallacy doesn’t apply here.
@@miastrong151 I agree with you half way. But just because someone doesn’t have anything to hide doesn’t mean that corporations can violate our constitutional rights as they please. Prosecutors can turn anything innocuous into a crime, no matter how insignificant it may be. If a customer has nothing to hide, it should be the customer who should decide if they want their info turned over to law enforcement not BoA.
@@miastrong151 I apologize if my previous point was confusing but to simplify what I was trying to say is if you put your money in a bank, that is still technically your money and not theirs, same with the information with how you earn and spend money. It’s like you know how a landlord just can’t freely give their tenant’s keys to the police for them to search the apartment the landlord is renting out. Same principle.
As a Platinum Honors customers (separate accounts) they treat my wife and I good from a customer standpoint. However, she also works for them and comes home with horror stories almost daily regarding how poor the mgt and CS is. If/when she leaves, our money is going elsewhere.
Im in platinum honors as well, which is nothing insanely hard to get. Honestly, I think it just depends on how much money you have on the account. If you don’t have much money in the account, I could certainly say I wouldn’t choose BofA myself
I must be in the tiny minority because I’ve been a Bank of America customer for 22 years and I’ve never gotten a fee that they haven’t removed and I’ve never had to wait more than 5 minutes to be connected to someone while calling through their app. I really like Bank of America.
Personally, I've had my checking accounts and credit cards with them for 14 years now:, good debit account system, a Customer service has always been polite and prompt (they're allowed to give you a Grace credit one a calendar year, long as its under $50..late fee, teller fee, etc. But you got to call in and politely complain). I've also been a shareholder for a few years now seem to be on a positive growth track.
I close my accounts in 2011 when CEO Brian Moynihan said, with the roll out of a $5 debit card fee, that "they had the right to make a profit." As if they weren't. His total compensation went from $1.9m in 2010 to $8.1M in 2011.
Not entirely true. I worked with a small credit union a few years ago and it was fine, until I went to cash my paycheck and was informed I could only get $37 of my paycheck because their minimum account balance went from $300 to $800 without any notification being given. Their reason for it? Trying to up their credit score with the fed. SO... I simply closed my account there and went and opened a new account with a different credit union which is more in line with why most of us trust credit unions. There are always exceptions to the rule.
i havent even personally dealt with boa, but i remember hearing my parents constantly complaining about them and spending a lot of time in the lobbies of the banks. i personally was indifferent as a child bc they gave me lolipops every time we visited
I quit them almost 30 years ago after I got tired of them stacking my debits in order from large to small, in order to incur as many NSFs as possible. Wells Fargo did the same thing and I quit them as well. I only bank with credit unions now.
@@juanchopancho914 yeah that's how everyone seems in the comments which is why I was shocked!! it's crazy to me how all of this info was completely off my radar my whole life LOL
I’ve had BOA since I first had an account and I like it. I still have it. Their are some annoying stuff like fees but that’s with any bank and no bank is gonna be perfect.
That happened to one of my neighbors. They didn't actually break in and steal anything, but the foreclosure signs and harassment were pretty out of line. Its scary the nightmare they put her through...its kind of the opposite of our criminal system: she was guilty of not paying them until she proved beyond a shadow of a doubt that she never owed them a dime to begin with.
Gotta salute your bravery for not shying away from the discrimination issue with Bank of America. That’s been a really hot button topic nowadays with many people knee jerk reacting to either denying it or claiming it’s everywhere. I was actually afraid you weren’t gonna cover it. Glad to see you did
They suck! I used to bank with them. I lived across the street from my branch. If I had a problem, I walked over, explained the problem and the dialled HQ and handed me the phone. I switched to a local bank where, if I had a problem, I went to my branch and talked to a VP. If she couldn't handle it, I went downtown and talked to the President. The difference is like night and day.
Since Biden took office, there seem to have been more unfavorable results in America. I am really worried about the current bank crisis/interest rates, these are all the signs of yet another 2008 market crash 2.0 , so my question is do I still save in the United States dollar or is this a good time to buy gold?
It’s always a good option to keep some gold. Well with the current market situation and everything at stake with the present economy, I’d say you’re better off staying away from stocks fr awhile or better still reach out to an adviser for guidance.
Yeah, a lot of folks overlook the role of asset managers until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $550k so far.
This is exactly how i wish to get my finances coordinated and planned ahead of retirement. Can I get access to your advisor?
Sonya Lee Mitchell is the manager I use. Just go research the name. You'd find necessary details to set up an appointment.
I personally work with ‘’Sonya Lee Mitchell” she covers things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk. many things like that. yeah
I appreciate when Company Man makes these "Why They're Hated" videos, he doesn't oversell it or exaggerate he just reports information without piling on to it.
@@Dragnulls Ok. Cool.
@@Dragnulls no one was talking about any god lmao. You also shouldn't be pushing atheism on people lol. 🦝
You cant exaggerate how badly people hate bank of america. Fuck that atm fee if your bank account is below a certain threshold
Okay
@@Dragnulls stop pushing atheism onto people. Your making us look bad smh.
They had my elderly mother who writes one check a month on an account with an insane monthly service charge, like $15 or something. Thankfully I started handling her finances and got her to a credit union. Wells Fargo was just as bad. I cancelled my service with WF when the account fraud scandal hit. I only do business with my local credit union now.
Well Fargo got me when I was 10 with a 5 dollar a month fee for not manking auto deposits. Like wtf this account was supposed to teach me to save, it taught me to loath most banks.
Boy do I have a story about Bank of America for you.. I never actually had any problem with them for the 7 years I've been with them so far
Same.. I guess it depends on your local location. 🤷🏼♂️👍🏼
Sus story
Me neither.....
Boy do I have a story about Bank of America for you....
Likewise. Good thing I rarely went to in-person banks BEFORE the pandemic started
I personally like Bank of America. I’ve been with them over 12 1/2 years and haven’t had any issues with them. Customer service has always been a great experience ever since opening my account. I understand not everyone has had a great experience with BofA and that is why some don’t like BofA.
Huh, I’ve never had an issue with BOA, maybe I’m just lucky
I think you are just responsible.
Hubby and I have had Bofa for 16 years and we've never had a problem. We have direct deposit and we have more than 3 bills set up for auto pay. We've never paid a fee with them, at all.
@@jennahenry4426 I had the opposite experience. They emptied out an account I had with them with "service fees" that were about $14.00 per month. They added up over time and next thing I knew I had a negative balance. I had no idea about the fees until they sent me a letter stating that I had a negative balance that I needed to fix. I fixed it and closed that account and refuse to do any business with them unless I absolutely have to.
@@abelreyna8781 Maybe it depends on the location? They basically are like a huge franchise that have different people running different regions. I am in Florida and in college, so I have not been hit with crazy fees or poor customer service in my 6 years with them.
@@onpoint2292 I'm sure with such a large bank it's different in some areas. It's just that it seems that every one in the Houston area that I've ever been to is crap.
The very same folks in Washington that fined banks for not lending enough in minority neighborhoods also fined them again for "predatory lending." The only people who weren't punished for the crisis in '08 were the politicians whose policies actually created the crisis to begin with.
Washington being two-faced? You don't say?
My experience with BOA has been pretty good, we’ve been using them as our primary banker since landing on American soil in the 80s 🤷♀️ I only bank through their app and it’s pretty easy to use and my only thing is they call me once every few months to see how my family is doing which creeps me out a bit.
If they called me and asked that I wouldn’t bite my tongue
I regret ever using them to bank.
Glad I got my funds out of there.
My mother had a safety deposit box in a BofA years ago, when we went to open it up and clean it out they hassled the shit out of us about it.
Awkward moment when you’re watching this from a break room at Bank of America 👀💀
Try to switch to a credit union, you'll love it
@@Nicholas-f5 I was aware of our reputation before this video but working for BoA is actually not that bad at all. Great pay and great benefits. They take care of you and are flexible if you have COVID or if your Center is shut down because of it. Little stressful right now because of COVID and lots of people on unemployment but makes me even more appreciative of my job. I’ve heard great things about credit unions and wouldn’t mind joining if the right opportunity comes along.
That's uh... That's a but awkward, yeah.
Haaa. Ya, Bank of Amigos.
Bank of America offers great benefits no credit unit will even come close during this pandemic they have provided financial relief
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
@Christina-Gisela That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@Christina-Gisela I will give this a look, thanks a bunch for sharing.
**account at $2.13**
BoA: oh you’re below the minimum requirement on your account, so you’ll now incur a $35 fee. Oh you’re now negative on your account because of our fee? You’ll now incur a $35 overdraft fee. But thanks for choosing Bank of America :)
@@Dragnulls Don’t care didn’t ask
I always wondered what would happen if you just had, zero... man that sucks I'll probably look for another place next time
what type of account did this happen on? i have an account with boa and i don’t recall ever being charged a fee for having a low balance.
@@Dragnulls Don't care didn't ask.
@@shyguy_4 Some low-monthly-fee accounts have a minimum account balance to prevent a low-account-balance fee that, if it throws your account into overdraft, may incur an overdraft fee and can also incur an NFS fee for the initial fee.
I was going to make a joke about Bank of America, but I lost interest!
OMG i got the joke. hahahahhahahaha
Wanna hear a joke
Bank of America
😆😆😆
not too bad but this sounds like something my dad would say
Winner 🏆 🏆 🏆 🏆 🏆
I told Wells Fargo I was leaving them for their terrible customer service and charging me bogus fees for 10 years, that I was going to Bank of America. They laughed. I didn’t realize that BoA was even worse.
Do you happen to know which one is actually good? I'm thinking of Chase, because I haven't heard anything bad from them yet.
Bro credit unions or bust
I’ve been on boA, TD bank, wells F and chase. Chase is the best option for me...
Ditched B of A for a credit union months ago. Best decision I made in 2020
I hated BoA when I had them for a short time -- they apparently charged fees onto my account even after it was closed, which caused a bit of a headache later on. I ended up opening an account with Regions, which I was very happy with but had to close when I moved out west. After having a terrible time trying to open an account with Chase, I ended up giving up and opening one with Wells Fargo, and I have to say, all their scandals aside, I've been surprisingly really happy with my experience.
I held a vice president title with Bank of America. I was a branch manager. I left in 2009 due to a health issue, but I can tell you all this: as bad as the company treats it's customers, which is quite bad, they treat their employees much, much worse.
Indeed!
could you expand on it?
Explain further please
Uh oh, I'm interning there... what am I getting into?
@manleybadger8311 . . . I believe it.
My late dad worked for 10 years at a B of A branch in California, but this item of World War II came along and he was drafted in the US Army and was discharged from his military service in 1946. Upon his return to civilian life, his old job was waiting for him, *at starting pay!*
That made him furious and walked away from it.
But, I suspect there were extenuating circumstances of that low-ball compensation package. My dad had some [ahem!] _issues_ when it came to being sociable, where the staff at that B of A branch didn't want him to come back; hence, make him an offer he'd refuse.
I remember a few years ago. Bank of America tried to foreclose a home they did not own. The owners sued the bank and won. That bank later closed in that town. lol
They hire unethical law firms to do their dirty work. The are thieves and criminals
I need the contact info of a lawyer to sue BOA
link?
@@yogieyo9935 you won't get a link because its a fake story you idiots gullibly believed.
IIRC, didn't that one end with the bank defaulting on their payments and getting foreclosed?
I was part of the class action lawsuit against Bank of America. I'll tell ya, it took a long time to spend the $23 I received.
Class action lawsuits only benefit the lawyers
The only winners in class action suits are the lawyers. I would stay away from them.
Same here, I remember it. I got $18 from it lol
was it for them constantly stealing ppls money so they can collect more interest on it?
Wouldn't even cover their minimum balance fee :-)
The red border on the thumbnail made me think I already watched this lol
Oh that's funny. Didn't even think of that.
@@companyman114 yeah man don't put red border on thumbnails, it makes people think they've already watched the video
Same! I almost skipped it until I saw 4 days ago
@@companyman114 no, add red lines at the bottom of every thumbnail just to screw with everyone :)
My dad worked at BoA for 15 years, he was approaching the amount of years needed for a pension so one day they just said he stole money from them and fired him so they wouldn't have to pay out the pension, we were a middle class family, my dad had no reason to steal. He's worked for Apple ever since and loves it
BoA sucks. After them I started banking local. I highly recommend smaller local or regional banks. You get better customer service and better policies
👏🏽👏🏽👏🏽
One of the problems in the banking industry were changing of the rules that allowed the megabanks to purchase the smaller hometown banks.
Yup. All of our financial banking is done through our credit union. Gotta love the 10.45% credit card!
@@F3Y3F3 come up. I'll take a look at my local credit unions
or credit unions!
They lost me as a customer when I worked for a staffing agency that didn't offer direct deposit. I was running $2,000 through the account every month, but since it wasn't direct deposited they charged me a monthly fee. I went to a credit union, and never looked back.
Hello
Credit unions are lovely
Chase bank is better
Very typical of BOA. Ugh!
Excellent move!
BoA closed my account and took $600 in “account fees” then sent me a check for $1.34
Damn
That's fucked up!
Had something similar happen, they're a bunch of crooks!
I closed first when change. I think it’s $15 for a month. You can’t have less than $5-10k I don’t know or get fee. Basically don’t want poor cause so big.
Sounds about right, Webster bank did that to me ($675 from me)
I went to BOA for a home equity line of credit. I was approved and ready to go, but then it came... they wanted me to get flood insurance for my house. My house is not in the flood zone and in fact, it sits on top of a hill. But they insisted. I said, ciao! Went to the credit union and got what I wanted without flood insurance.
Every third blink you take with the app open it’s a $35 fee.
They were always trying to nickel and dime. They sent out a letter to me saying that after a certain date, if I wanted to continue to have free checking needed to have a combined balance of $10,000. I went across the street to another bank.
During covid the fed gave a pass on any fees to the bank but they did not pass it on to the consumer .. allowing them to make billions in profits
WHAT? are you for real? I’m about to watch the video. Do they really charge 50 cents???
Mm that’s only if you go negative
every time you call online costumer service they charge you 5 buck without tellingn you they get it annually
About 25 years ago, BofA managed to empty my account through a teller error, totally unbeknownst to me. It took them a month to get my money back, and that was after I had to threaten them with legal action. So yeah, I hate 'em.
But you got your money back.
Petah!?
@@eddyeroyal6024 - So all is forgiven. Yeah, right.
@@full-timepog6844 - Yeeeess?
😳
I closed my checking with them a few years ago. Went in person to the bank, closed it and transferred all my money out to another bank. Soon after I get a notification that I got charged a fee for being under $35 then I got charged again because it went into the negatives. Had to call them to remove the fees and finally close the account. Cause I guess the first time didn’t count.
that actually happened with me with US Bank
i went down to close my account and kept getting emails and letters that were basically ads
I called and confirmed my account was closed and opted out of any further advertisements
it stopped for a few months but started up again a year later and when i called again they said my account was still open and never closed
Accounts don’t close automatically you are responsible for the account for a bit
This bank made me hate them even more when they decided to just shut down my account for no apparent reason, and when I went to the bank to get help the lady just flat out ignored me.
When a bank charges you a fee for NOT depositing something once a month, run. Idk of they still do that but they did that to my dad for years.
Yeah its $12 a month now if you dont have direct deposit
It is called admin fees lol they have to work your account as they report balances and activity to fdic.
@@-..-..-..-. 😤Also has to be over $250 in one check.
lol all major banks do that...
only some credit unions or silly online banks are the ones that can't charge fees
Still do, along with savings, reason why i closed my savings account
That red line in the thumbnail made me think I had already watched the video, I was so confused lmao
For real
@@Dragnulls 12
@@Dragnulls Jesus, you’re still doing your schtick? Why do you bother, because all you’re doing is pissing people off.
😭 me too
Had a BOA account once .. went to close it. They told me there was a $35 fee to close my own checking account. I complained and the Bank MGR told me she would waive it. When I cashed out, I noticed the $35 was taken out. The same Bank MGR in a snarky voice told me, “oh I’m sorry I can only waive the fee for CURRENT customers which is not you.” I will NEVER EVER give them another dime.
is this a true story?,WTF
Lol I would have spit in their face
@@thequantumguy5067 absolutely - happened at the Redondo Beach, CA branch on PCH
I almost forgot - They charged me a fee as well to close it, THEN they didn’t do the math right and gave me a dime over. So they mailed me a NSF charge along with another fee. When I explained that the teller did that, they kept insisting I owed them money. It was a HOT MESS. So glad I left them.
I had a very hard time closing my account with Citibank, a business account. The reason is that banks like to hold onto their accounts since it generates fees and it takes 7 years to break even. So BofA is not unique in this racket. Recall the Wells Fargo scandal too, bank managers get rated on how many accounts they have.
I remember hearing they would post debits and credits in certain orders so as to rack up the overdrafts... like big charge first, clears you out, bunch of small charges, overdraft for each, then your check comes in and you got like $5.00 left over after. Lol... think there was a class action lawsuit years later over something like that but not sure.
They did that to me. Their policy was to process withdrawals before deposits. I deposited in an ATM on a Friday night, and got NSF charges for everything I spend the rest of the weekend. There aren't many companies I hate more than BoA.
They told my mom, who was dying of cancer at the time, that when she died they would immediately foreclose on her home and they said it in the meanest, nastiest way possible. Well, we had an out for that, but now in any setting I write where I can Bank of America goes out of business in the worst way I can possibly imagine.
Wow that's insane, they got no soul
They are super nasty. How in the hell are they staying in business
@@yolandaroberson611 There used to be a lot of commercials but maybe that’s why I haven’t heard or seen of them in ages
That's just people
I hate bs predatory banks
Didn't expect that they have a reputation this bad before watching this video...
Now i will go with Chase :D
When I hear Bank of America I think of bad customer service and bad customer support. Instead of helping me they argued with me refuse to help me I had to drop them trash ass bank
@@Dragnulls There is no proof of god, but your comment is proof of idiocy.
@@Seanonyoutube Spatza comment made my eyes burn.
@@mitsuri1849 I am pretty sure after boa it is then chase then Wells Fargo unless people experienced the Wells Fargo fraud with general hatred.
Closing my Bank of America account was one the best financial decision I have ever made.
Why
Information plz
Crazy I just have a issues with them right now taking out something they shouldn’t and stupid maintenance fees
Same. I've never experienced so many fees. They even froze my account cause I bought some groceries at the grocery store that I used to work at. wtf.
Why?
I needed a cashier’s check to pay for my work authorization application in the US. I went to BofA and paid $15 to get the cashier’s check. After I went home, I realized that the teller forgot to sign the check. Can you imagine a bank forget to sign a cashier’s check? I could have lost my legal status here in the US because of their stupid mistake.
They tried to get my 87-yr-old mother-in-law convert her IRA into an annuity with restrictions on the first few years. SHE WAS 87.
BoA “Did you know the first 150 year old has already been born? It could be YOU!”
you walk in and see the bank manager and loan officers sitting at their desks while there is only 1 teller at front and a line of customers all the way outside the door
I spent my career in Banking/Finance, and unfortunately, this was true too often. The Manager and Loan Officers, and Assistant Manager wouldn’t be there to hear the customers complain about the line. They were in charge of scheduling, and would always under schedule. Nothing is worse than being a Teller and seeing a line out the door. Or slaving away to meet a Loans funded amount and then they RAISE the goal. Surviving a downsizing AND a merger, only to find out that you thought you were working hard before, you are really working hard to replace all those people just laid off.
They can only afford to pay one teller
@TH-cam WantsToSilenceMe preach
@@bobross4886 yeah thats why they are like second from the biggest bank in the US. dumb comment dumb like whoever liked this hilarious.
Sounds about par for the course
So once upon a time, I opened a BoA account in Georgia. When I moved to California, I learned they didn't treat the accounts the same. I could put in a cash deposit in my account in California, and it would take 3 days to show up in my account. BoA suggested I close my account, and open a new one. So I did that, I opened an account at a great Credit Union in the area. I think they meant for me to open a new account with them, but if they couldn't handle accounts between states, I had no interest in using them.
Hey at least you followed some good advice
That specific issue goes to old regulations of interstate banking that didn't allow banks to cross state lines. So you had separate banks of the same name owned by the same company legally required to be operated separately.
IIRC, the regulation still exists but now allows for more integration into a parent bank. You may notice the N.A. (not affiliated) designation on your checks, if you still use them.
@@Drknnja even in 2008?
@@SimonTekConley even today in (2021) acquired banks have to be operated separately.
Your Georgia account was likely a Nations Bank account and the California was a BofA account which operate in 2 different federal reserve branches. Separate banks owned by the same bank holding company.
The Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (Interstate Act) allows banks to branch across state lines. Section 109 of the act, however, prohibits a bank from establishing or acquiring a branch or branches outside its home state, pursuant to the act, primarily for the purpose of deposit production.
Not something that a general consumer should want to know.
I remember when ATM networks didn't operate in more than a few states.
If your ATM card was issued by a bank on the MOST® network, you couldn't withdrawal money from an ATM on the Cirrus® network.
@@Drknnja ahh. Strange though, I currently live a different region of the country, and bank with a different bank, a regional one. I've never had issues depositing money into the account while if another state with this account.
BOA foreclosed many homes back in the recession, including our home.. I remember my parents going to a convention in Los Angeles that helped homeowners fight for their homes and the reps from BOA never showed.. We lost our home soon after. To this day it still hurts. I know my parents haven’t recovered from that hurtful loss. Especially as immigrants coming to America for that “American Dream” of owning a home.
My grandfather lost 3 houses due to wrongful foreclosures. We spent 10 years and tens of thousands of money on a lawsuit and lost. I completely understand your pain.
I find it sad when a company begins with the greatest of intentions but over the years veers off its path when overtaken by greedy people😞😞
All companies have started with good intentions as they grew up in a generation with higher moral values and standards. Fast forward to today as those older people pass on and the younger generation that grow up in a morally declining society take the company and steer it to greed snd self serving.
@@autonomousglisteningwater2286 that's what happens when you hand the reins over to entitled boomers and greedy Gen Xers who came of age at the height of 80s hedonism, who run the companies today.
The road to Hell is paved with
It's always the same: we make something to help people, Americans wipe out our history, painting a totally American background and start turning the company to a making-money machine just for their profit.
Isn't that the only word that matters in America? Profits?
I have to ask Americans if human lives are profitable. Their answer will be spectacular awkward. 😑
greedy groups of people. Thats capitalism.
they nickel & dime their customers on EVERYTHING
There was an old Washington Mutual TV ad, which had this bank teller guy charge a customer for his outbursts, which had several verbs and pronouns in it.
I had never had to pay a fee with Bank of America.
Every bank does, pick you poison.
THIS. They fucked me over during Hurricane Ike in 2008 AND were predators in giving credit to YOUNG, low income adults.
@@rkmugen The "Fee Avoidance Fee".
As someone who got his education in finance, I can tell you from the inside BoA was not allowed at our job fairs. JPMorgan? Sure. Goldman Sachs? Welcome! But BoA was known for not being good to our grads so they were blacklisted.
They are the Walmart of banks for sure.
@@Nicholas-f5 is that a good thing or bad?
@@aasimmukhtar7752 bad
@@aasimmukhtar7752 Like double-plus ungood type bad
@@aasimmukhtar7752 very bad.
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I mean that Giannini guy started out doing actually good to the people. Bet he's revolting in his grave knowing the shit they're doing to his vision
I agree. I joined for the origin story. However the do not reward loyalty 20 years of it to everyday account holders
Two words: "Maintenance" fees
You have to get direct deposit to avoid the fees of their basic accounts, or did when I worked there. If you lose your job, they IMMEDIATELY start nickel and diming you to death. I have no clue why people use them. Or Wells Fargo.
That’s why I left them and never looked back. Why would you willingly pay for a maintenance fee on your own money lol
literally every bank does that now, only ones I have found that don't are credit unions and capital one, which doesn't have brick and mortar locations you can just walk into.
Seriously, I got bitchy with customer service about that and the guy couldn’t explain it to me (he wasn’t just some worker fielding cs calls, he worked in the bank/with boa)
My mortgage was sold to boa years ago.Tried everything they could to foreclose.Charged me $15.00 fee every time I called in to make a payment. Didn't realize so many others hated boa. I belong to a wonderful credit union now.
I left them because of their excessive, unnecessary fees.
Since they had trillions in assets why did they or their number ever receive bailouts? Politics, that's why. The rest of us have to sell assets to balance budgets.
The goal of every business is to get important enough such that the US govt will bail you out from insolvency.
Justin how are you ?
To be honest I have information into your question. BofA never wanted to take the 45 billion bailout money because they didn't need it. Taking it was forced upon them by the government and they paid it back as soon as the government allowed them to with interest. There were no payments made over time to payoff the bailout money, just one check written and done. BofA was well positioned for the 2008 recession as I a shareholder was informed.
@@keithwalker5696 indeed. Unfortunately a lot of other people didn't have the ability to pay back anything. The system looks out for itself regardless even if those parties involved were responsible after the fact.
As Kenneth Walker said, the federal reserve did not want the public to know who needed the loans so they compelled all of the majors to take loans.that way, there would be no runs on the weaker banks. That’s how the story goes anyway.
I love how EA is even more hated than BoA.
Hmm yes some gaming company that makes games with microtransactions and killed a few game studios is a bigger evil than the biggest banking company in America that proves to screw over millions of people
That's because the website that does that poll is relatively unknown and it was spammed across forums like reddit and 4chan to vote for EA, it doesn't mean much. Nobody's heard of 'consumerist' besides this poll and they stopped posting anything in 2014.
BoA is the banking world’s EA
Revenge of the nerds
@
That's what baffles me too. Boa bought companies that ruined people's lives, wells fargo IS the company that ruins people's lives
Agree 😡
They kicked me out & closed my account, I call ask but never got the answer,they said can’t tell & give me the reasons. I have no money to pay bills and mortgage, it took them 4 or 5 days to get mine check in the mail.
By the way I have good credit 850, hardly missed any payment. Now I’m with Chase and happy, everyone there nice 👍
I have 850 as well. That's PERFECT credit. That was probably Why. They are loansharks, and love to charge you the high interest rate.
"Robin Hood" why they're hated
Hated by redditors
only other brokers hate them for taking away all smaller investors
@@itsjedu8403 i hate reddit AND robinhood
This is going to take some time for everything to shake out the proper details.
th-cam.com/video/PIAxrnkity0/w-d-xo.html
@@Dragnulls Thank you sir
I have a big problem with Bank of America when I was 5 I remember that they didn’t give me a lollipop.
Should sue
wow this deserves a class action, they never gave me one either :(
I was confused I didnt register the space between "5" and "I" so I thought you meant this happened when you were 51
@@angeluriel2725 Pretty sure they don't give 51 year olds lollipops either.
Those bastards.
I remember opening an account when I was 12 with $25. Then they started charging me a $2 monthly fee. That was back in the late 80s and it still irritates me today.
Its $12 a month now
__ damn! Chase bank has been good to me
@@opichocal Sorry to hear that. Misery loves company.
@@opichocal i won’t do business with chase bank. they keep getting into trouble with the federal government for manipulating the silver market.
Open a credit union account. You’ll be much happier.
I have multiple seriously bad experiences with this institution not just customer service but borderline criminal policies.
Just closed my BOA account yesterday. Best feeling ever.
👍👍👍👍👍
I just realized I have money in my account 😂
Hilarious, I just closed all my Bank of America accounts this week because I was sick of their shit.
Translation, "I SHIT ON BOA!" 🤣🤣🤣🤣🤣
Lol feels good to be a student no monthly fees
How are you mike
I hate them for the mergers. I've watched as most of the banks in my area were gradually bought by BofA and eventually they bought my bank. I dislike that so much of their growth has been about mergers and acquisitions rather than actually being a good bank.
I fell the same way about T Mobile taken over Sprint. I’m not a T Mobile fan. They had the nerve of raising my phone bill by $10 dollars with all these fees. They said they would not raise my phone bill, but they increased the fees.
Oh and by the way, I have no problem with BofA. I have been a customer for 15 years. It might change in the future, but not now.
I just wanted to complain about T Mobile. I miss Sprint.
True LOL
@@angiegissen check out Consumer Cellular, they have excellent customer support.
@@angiegissen back in the 90s there was a ton of cell phone companies. Now we are pretty much down to 3.
They can't buy credit unions...which is why I Bank at one
BoA charges a quarter to breathe the air.
I 100% recommended a credit union. My local credit union is awesome and there’s no account fees or any dumb stuff like that. I can’t believe ppl actually pay for fees
Agreed. The best way to stick it to the big banks is to take your money elsewhere. I've noticed some credit unions are starting to form networks, which helps alleviate the problem of the big banks nicking you for ATM fees when you're traveling.
I will never use a bank. Credit Unions have better fee's and rates, don't charge weird penalty fees just to generate revenue for their investors, and are owned by the members. They're there to serve their community, not a large collection of miscellaneous investors.
They usually pay for fees because they want to send money where the credit union can't
My credit union had overdraft fees back in the late 2000's, so it used to be no different than Bank of America. Happy to say they've changed their ways since, and now they're amazing.
This video is so timely, I was going to open a bank account in Bank of America but something went wrong and the customer service agent opened the account for me in a very weird way and not in the way I intended to so I just ended up closing it and choosing a different bank lol
Just go with a credit union.
@@Dragnulls your understanding of the world is shallow. Go explore the deep end
@@Dragnulls Spamming that does little more than annoy people. Stop making us atheists look bad, jackass.
boa will Rip you off - lie cheat and steal from you - they did it to me -
- use local credit union
I want to hear why it was weird.
I would have like 35 bucks in my checkings, i go to the atm. Account is -45.76$
Sup Officer Glad ‼
Officer I can show u how to get sum free money out of them
@@jinogivenchy lol how
@@GOLOSA8623 my aunt used to work for them and she showed me how to do the scams they use to go for but I can show u myself rn jus once u do it jus send me my cut I need no account details or payment upfront
@@jinogivenchy boy if you dont
I had 2 BoA credit cards. One was closed. The other they reduced the limit from 25k to $1000. No warning. No letters. Nothing. I was never late paying any of them. Needless to say I'm no longer a customer.
I came to dislike them after they started charging their customers an ATM fee of $5, even when the customer was using a BoA ATM. Makes me glad that I never did business with them.
that’s just sad
@lordpublius wowww. is this a recent thing? despicable
I don't live in Pennsylvania anymore but I used to be a PNC customer. At the ATMs near my place, at least that I remember, had no-fee ATMs even if you were not a customer of theirs. It seems like a good way to build trust with future customers.
For real?! Most banks don't charge a single cent for using an ATM! At least in Singapore
I never recall getting charged for ATM fees when using a BOA machine. Grant it, it's not that much as I mostly use grocery stores to get cash back, but I just checked and noticed I didn't get charged for the ATM transaction I had at a BOA machine a couple of weeks ago.
BoA ended up owning a number of foreclosed homes in my neighborhood in the wake of the 2008 subprime thing. They sat unsold for years, with some even still unsold to this day (in a pretty damn sorry condition at this point). BoA also had a habit of simply not cashing my Sister in Law's parents mortgage checks, and trying to hold them responsible.
Leaving Bank of America in 2012 and joining University Federal Credit Union was one of the best financial decisions I've ever made.
my brother just suggested that to me
I was an intern there just when I turned 21. They treated me like shit and didn’t care about my mental health when I worked at the call-center I still bank with them but that’s only because I don’t have the energy to go through and change banks, I hate it there.
I work in the industry as a competitor of BofA. BofA’s nickname is the bank that keeps on giving (as in always giving away their clients bc of terrible service).
How are you ?
yeah dude whats up? hows it going?
@@bitchwormpuddin1499 who is this dude?
Been with a credit union 17 years. Never a problem.
Straight up. 👍
@@Corkoth55 yes
that's for poor people
For real. Credit unions people!
@@JN-only Damn. Hope that never happens to us. My grandmother had terrible trouble with them many years ago.
They're a bank, that's reason enough for 99% of ppl.
Yup. I worked at USBank call center during recession. We had weekly meetings on how they were planning on getting around laws being made to keep banks from gouging customers. If the banks had their way we would still be in a recession.
They are a BIG bank. Many small banks are well loved. Its mostly these large greedy banks that are hated.
You know what else is a bank?
Insurance Companies.
Yes I hate them too.
@@Dragnulls 8
@@Dragnulls I think Spaz would be a better username for you.
me with a bank of america account: 😳
Same lmao
You're hardly going to be in the minority. It is the second largest bank in the US after all they have to get all that money from somewhere.
Try your community credit union for lower fees and better rates, loans, car rates, etc.
For real, close your accounts and re-open them at a smaller local bank. Leaving BoA was one of the best decisions I've made lol
boa 100% crooks
Former employee here and I can definitely attest to this fact. A few reasons is because they don't care about their customers. They will literally close down branches with high traffic volume if they don't meet their sales. Nothing else matters. Great surveys, good feedback, great customer service, NOTHING. If it doesn't relate to them opening an account(s), credit card(s), auto loans, mortgage, app, they couldn't care less. They literally trained me to not apologize to anything because "it admits fault" not even joking, my corporate trainer from NY told me that
I believe you and it sounds about right regarding their lack of customer care. They'll NEVER steal any more of my money ever again. Worst bank I've ever had the misfortune of doing business with.
Yeah they closed the only branch I could walk to and had the only ATM that always worked, now I either have to drive a couple miles or hope the shitty ATMs are actually working
@@QuestionEverything-qp6kw you made the right decision in leaving
@@Karmy. doesn't surprise me. They close down branches even if they hit 75% off their goals. If you opened 100 accounts in Q1 of last year and "only" opened 80 accounts the next year, they consider that a bad drop-off, you sit down in a meeting, and they ask you all types of questions about how you failed
I went to BofA last week to process a wire transfer. I was told that it couldn't be done for 3 days, as they had no banker appointments available and tellers can't do this. I went to Chase and had it done immediately...by a teller. Imagine that!
I had a credit card with them for over 20 years. Then they closed it and never told me why. At first I was pissed, but it didn't affect my credit score much, so I'm pretty happy about now.
What's a credit score? Does it work across different banks?
@@thesmart1000 From my knowledge, credit score is how much your bank trusts you.
"Credit Score is what they "THINK" of you as a "SUCKER"
Credit score is supposed to determine how much of a risk you are. They look at income to debt ratio (too high = bad risk), how much credit you have available to you (having lots of credit available looks good), if you pay your bills (and if the bills are paid on time), and what kind of debts you have (revolving credit vs loans).
Part of the trap is that having no credit score is often treated as worse than having a bad score...so you're forced to borrow money to build up a reputation so that when you really need that big loan, you'll be able to a) be approved and b) get a decent rate.
@@randomstuff-qu7sh Where is your credit score kept though? IRS?
When I was 18, I got a job at a call center which outsourced BOA customer service to people who got little training for $8/hr during the recession. The amount of fees, theft, etc was ridiculous.
Looks like I have your job now. Spoiler nothing has changed
I’ve always gotten my money back after calling 40 times
Love it
I used to do that when I was a teenager. I would keep calling until they refunded my money.
I close my account with Bank of America. Mess up bank stealing your money over night.
The vultures would take out my checking account charges and would issue a $36 overdraft fee per transaction before deposits were counted. Imagine depositing a check on Tuesday and seeing charges you made on Wednesday count as "overdrawn" because they hadn't processed your Tuesday deposit yet. It was infuriating.
a similar incident happened to me several times when I was with boa...I've been with Wells Fargo when they were Southtrust in ga. and in spite of their reputation, I haven't had any issues with them
& most "GALLING", the CEO, who thought this "CRIME" up, got MILLIONS.
"Why they're hated"
Umm, could it be because they acted like crooks back in 2008, have ridiculous fees, and send your personal data to the federal government w/o your consent or knowledge?
I think evey bank does that too
@@KingNeptune151 Especially that last one
@@justsomeguy5470 Yea for sure
Fun fact:
mortgage loan originators do not need to be licensed if they work for depository institutions (banks that do checking/savings)
However they do need to be licensed if they work for non-depository institutions (brokerages, stand-alone mortgage companies etc...)
-a guy taking his exam to be an MLO in two weeks
Bank of America actually didn't do anything wrong in 2008. It's not like every bank in the entire country was involved
In fact they "helped" save the economy when they were forced to buy Meryl Lynch by the government.
They're too big to care. Giannini must be rolling in his grave disgusted at what it had become.
@Robert XYZ Did you not watch the video?
@Robert XYZ Like the Capitol insurrection
I remember a comedian called Bank of America Stank of America and he was right...
I was laid off from BofA a couple years ago. Best thing that ever happened to me! I discovered tons of other jobs out here in Orange County, California. They Pay twice as much, no micro-managing, and no Nazi managers controlling my every move! Thank you God!
That's the good thing about getting fired, for some reason better paying jobs start coming ur way
What's micro-managing?
Nazi managers?
@@Christian-gr3gu yup...Nazi, Communist, Dictators! 🇨🇳
Perhaps a job in the spying industry? Comes with Astom Martin company car.
One reason is that they willingly hand over customer information to federal investigators willingly without a court order.
Ahh yes that’s more recent actually
Like really? And the sad thing is some people actually support that because the people they’re ratting out are “insurrectionist”
And we wonder how people allowed the Nazi’s or Soviets to take over and kill millions
@@1CE. If they did nothing wrong, then they have nothing to hide. If you don't like it, then move to China, Commie!
@@1CE. there was no proof that those who were ratted out where insurrectionists. They just happened to have made transactions in Washington DC on certain dates, which in of itself is not criminal. Not everyone who attended the protests were violent nor did they commit any crime. Some in the crowd were trying their bests to stop the vandals from breaking into the Capitol building, but were unfortunately outnumbered and overpowered. Point is that BoA should not be freely handing over their customer’s private information over to law enforcement of any kind without a court order. They’re FDIC insured so the whole “they’re a private company and do whatever they want” fallacy doesn’t apply here.
@@miastrong151 I agree with you half way. But just because someone doesn’t have anything to hide doesn’t mean that corporations can violate our constitutional rights as they please. Prosecutors can turn anything innocuous into a crime, no matter how insignificant it may be. If a customer has nothing to hide, it should be the customer who should decide if they want their info turned over to law enforcement not BoA.
@@miastrong151 I apologize if my previous point was confusing but to simplify what I was trying to say is if you put your money in a bank, that is still technically your money and not theirs, same with the information with how you earn and spend money. It’s like you know how a landlord just can’t freely give their tenant’s keys to the police for them to search the apartment the landlord is renting out. Same principle.
As a Platinum Honors customers (separate accounts) they treat my wife and I good from a customer standpoint. However, she also works for them and comes home with horror stories almost daily regarding how poor the mgt and CS is. If/when she leaves, our money is going elsewhere.
Im in platinum honors as well, which is nothing insanely hard to get. Honestly, I think it just depends on how much money you have on the account. If you don’t have much money in the account, I could certainly say I wouldn’t choose BofA myself
I must be in the tiny minority because I’ve been a Bank of America customer for 22 years and I’ve never gotten a fee that they haven’t removed and I’ve never had to wait more than 5 minutes to be connected to someone while calling through their app. I really like Bank of America.
Personally, I've had my checking accounts and credit cards with them for 14 years now:, good debit account system, a Customer service has always been polite and prompt (they're allowed to give you a Grace credit one a calendar year, long as its under $50..late fee, teller fee, etc. But you got to call in and politely complain). I've also been a shareholder for a few years now seem to be on a positive growth track.
My only experience with BOA was them tryin to charge me $5 to cash their own check. Told me all I need to know.
Omg Same
When I was a kid this was my grandma's bank and I got a Loli pop that's the onlg good thing ever
As a BofA user~
**reads title**
**sweats**
"2nd worst company twice"
**sweats profusely**
Looks like your you’re in a hot country
I.m leaving that to science
@@Dragnulls Im agnostic but WOW this is so annoying to see. Nice spam buddy.
@@Dragnulls 13
I close my accounts in 2011 when CEO Brian Moynihan said, with the roll out of a $5 debit card fee, that "they had the right to make a profit." As if they weren't. His total compensation went from $1.9m in 2010 to $8.1M in 2011.
They lost me when they started charging me $15 a month all because I didn’t get direct deposit.
I can teach you how to get sum money out of them
One of the reasons why I only trust credit unions. They just aren't as greedy as big banks
👏🏽👏🏽👏🏽
It's true.
Not entirely true. I worked with a small credit union a few years ago and it was fine, until I went to cash my paycheck and was informed I could only get $37 of my paycheck because their minimum account balance went from $300 to $800 without any notification being given. Their reason for it? Trying to up their credit score with the fed. SO... I simply closed my account there and went and opened a new account with a different credit union which is more in line with why most of us trust credit unions. There are always exceptions to the rule.
BoA screwed my parents out of thousands of dollars
Story?
Oof
thats why I wanna piss on the boa atm
Yeah they owe me $6,000
@@samplecoder305 oof
i havent even personally dealt with boa, but i remember hearing my parents constantly complaining about them and spending a lot of time in the lobbies of the banks. i personally was indifferent as a child bc they gave me lolipops every time we visited
I quit them almost 30 years ago after I got tired of them stacking my debits in order from large to small, in order to incur as many NSFs as possible. Wells Fargo did the same thing and I quit them as well. I only bank with credit unions now.
Same here!!!!!
Twitter: Why they’re hated
that video would be a doozy
All of my families cards are mostly from Bank of America or Chase. I had no idea that they were hated
Me too
same!! everyone i know uses bofa or chase and ive heard a lot of issues w chase but never bofa so i was shocked to see how bad they can be 😳
@@alekspendragon9255 I heard the opposite
@@juanchopancho914 yeah that's how everyone seems in the comments which is why I was shocked!! it's crazy to me how all of this info was completely off my radar my whole life LOL
Same never had an issue with BOA and still have them
I’ve had BOA since I first had an account and I like it. I still have it. Their are some annoying stuff like fees but that’s with any bank and no bank is gonna be perfect.
How did you ignore them foreclosing homes that they didn't own (ones paid in full or bought with cash).
That happened to one of my neighbors. They didn't actually break in and steal anything, but the foreclosure signs and harassment were pretty out of line. Its scary the nightmare they put her through...its kind of the opposite of our criminal system: she was guilty of not paying them until she proved beyond a shadow of a doubt that she never owed them a dime to begin with.
Gotta salute your bravery for not shying away from the discrimination issue with Bank of America. That’s been a really hot button topic nowadays with many people knee jerk reacting to either denying it or claiming it’s everywhere. I was actually afraid you weren’t gonna cover it. Glad to see you did
They suck! I used to bank with them. I lived across the street from my branch. If I had a problem, I walked over, explained the problem and the dialled HQ and handed me the phone. I switched to a local bank where, if I had a problem, I went to my branch and talked to a VP. If she couldn't handle it, I went downtown and talked to the President. The difference is like night and day.
Jovan how are you
BoA wouldn't let me close an account without a court order. I got the order and I've never done business with them again.
A court order??? Jesus
Was the balance negative?