Bank of America refuses to let customers close accounts

Hey FOLKs!!!



With all this Fear that Banks are thinking Losing Their Pyramid Money
If People ( Their Customers )That Is
just end up deciding that they want to Close Their Account in Masses !

Like a Swarm of Rats leaving a Sinking Ship

Banks Should NOT!! Worry About Losing Money !

Especially Banks that Deal Directly with The Federal Reserve Banks


Classic = ( The Guy Next to Greenspan Expression on his Face! )

Click The Play button then Repeat A couple of Times

Alan Greenspan: WE CAN ALWAYS PRINT MORE MONEY





Dylan Ratigan Explains 'Con Job': Greenspan, Banks, Congress To Blame

First Posted: 04- 7-10 06:16 PM | Updated: 04- 8-10 02:06 AM
www.huffingtonpost.com...

( Exposing the greatest Con & Coverup )

Dylan Ratigan MSNBC exposes Federal Reserve Con - Part 1

Let me say a few things:

I've worked in banking since I was 17 (I am now 24) and if you bank at any of the big, publicly owned banks - their only mission is to make profit to satisfy their shareholders. My advice to you - STOP banking at banks and join a credit union. They are financial cooperatives that are owned by their depositors. I finally made the switch from working for banks to a credit union recently myself and can tell you I can respect my choice of work again.

Secondly, BofA (and I think some other larger banks) recently changed their account agreements (for all depositors, existing and new) that added a provision that stated that, if the bank decides to, it may require 7 days written notice to withdraw your funds. CHECK YOUR AGREEMENTS BEFORE IT'S TOO LATE, PEOPLE!

And I have to also agree that the OP is a bit misleading. I actually went to BofA on Monday to get an overdraft fee refund - it was the first time that had happened to my account. The lady refused to give me back the fee and wouldn't tell me why, which I found very strange. (Note: most banks will give you a one time courtesy refund.) In response to that, I decided to close my account, and I was given my money with no problems. In and out in 10 minutes.

So yeah. Seriously. Read all the paperwork you received when you opened your accounts. If anything was changed in the terms, you would have gotten it in the mail. You probably threw it out. Make sure you know what you signed up for, because when the SHTF, you'll probably be s**t outta luck.

Bank of America should be ashamed. ( Companies are people, right??? ). Billions of taxpayer money bailed their arses out, only for them to raise their fees, and deny service to customers. There's no reason that the customers couldn't have been admitted one at a time to do business. Anyone here old enough to remember the S&L debacle in the 80's? Keeting , anyone?

Grab your money now, folks. Participate in the protests. I'm willing to stand up and admit it here that I can't wait to participate in a protest. If one doesn't pop off here soon, I may even try to organize it. It's not illegal, and peaceful protesting is an inherent American Liberty. I don't care if the Feds see my post. I'm not doing anything wrong, and I have nothing to hide.

I don't want to see any kind of violence perpetrated by anyone, but I do enjoy the fact that Americans are finally getting fed up ( no pun intended! ), and are willing to be seen and heard, This is a positive thing.

BOYCOTT BANK OF AMERICA!

reply to post by Witness2008


AGAIN,

if they had gone to a BRANCH, I'm sure they would've been able to close their accounts, they didnt. They went to a corporate office that doesnt even handle account closures. You can't just walk in, that building doesnt have any money in it! There are just customer service reps taking phone calls, and people going through loan applications on the phone, underwriters buried in files, processors trying to hit closing deadlines.... The public isn't allowed to go in there. I'd like to see you show up at JCPenney's corporate office trying to find a new pair of shoes, or FritoLay/PepsiCo corporate trying to get a snack.

Dumb.

Come on guys, really? They weren't keeping them out because they didn't want them to close their accounts. They didn't want an angry mob in the lobby of their bank. If they all just went in without protesting in front of the building first, they would have let them. They are legally obligated to allow access to their money, but the safety and welfare of people come first. Think about it this way; if you were manager of the bank, would you risk letting an angry mob come in? If someone was injured, you are held responsible. I would tell them to come back once the mob despersed. I for one have stopped using big banks a long time ago and BOA are a bunch of crooks but you guys are letting a youtube video get you all worked up(which is the reason it is on youtube). I know you guys are smart and use logic and reason(well most of the time) and there you will see what really happened at BOA.

Originally posted by UniverSoul

Originally posted by hawkiye

Originally posted by UniverSoul
i was under the impression they had no legal right to do this?
greedy banks make me sick

It's probably in your contract (that nobody reads) when you open an account. You'd be surprised what is in there they can hold your money for up to 6 months and not give it to you and you agreed to it by signing the contract...

do you think seeming we may have to wait 6 months there is a way people can go to their banks now and advise them they may want to withdraw so that 6 months has started in a sense..just as a backup
would be good to hear from someone with real banking law knowledge

im lucky im with a credit union

I would send them a certified letter asking to close the account and send you the balance. In the meantime I would try online to get the money out or ATM or even the super market to cash several checks to zero the balance etc.. I hate to tell you this but credit unions have the same things in thier contracts too. If you can empty the account who cares if they close it or not.. Just leave it empty and open a new account somewhere else. I never leave money in my accounts any more just enough to cover bills and that's it. You never know when the balloon will go up.

Originally posted by rEVOLuti0nary
Let me say a few things:

I've worked in banking since I was 17 (I am now 24) and if you bank at any of the big, publicly owned banks - their only mission is to make profit to satisfy their shareholders. My advice to you - STOP banking at banks and join a credit union. They are financial cooperatives that are owned by their depositors. I finally made the switch from working for banks to a credit union recently myself and can tell you I can respect my choice of work again.

Secondly, BofA (and I think some other larger banks) recently changed their account agreements (for all depositors, existing and new) that added a provision that stated that, if the bank decides to, it may require 7 days written notice to withdraw your funds. CHECK YOUR AGREEMENTS BEFORE IT'S TOO LATE, PEOPLE!

And I have to also agree that the OP is a bit misleading. I actually went to BofA on Monday to get an overdraft fee refund - it was the first time that had happened to my account. The lady refused to give me back the fee and wouldn't tell me why, which I found very strange. (Note: most banks will give you a one time courtesy refund.) In response to that, I decided to close my account, and I was given my money with no problems. In and out in 10 minutes.

So yeah. Seriously. Read all the paperwork you received when you opened your accounts. If anything was changed in the terms, you would have gotten it in the mail. You probably threw it out. Make sure you know what you signed up for, because when the SHTF, you'll probably be s**t outta luck.

I wish that I could applaud you I guess a star will have to do for now. Great post from someone who knows

I'm with USAA, the best damn credit union out there and great auto insurence as well unbeatable by any other insurence companies.

The only catch is that you have to have served in the military (or one of your familiy members) to be eligble to join them.

Bank of America is one of the most evil banks in America.

Originally posted by Cosmic911

Originally posted by UniverSoul
i was under the impression they had no legal right to do this?
greedy banks make me sick

This is why I laugh when banks get robbed. I never feel bad when the greedy bankers lose ten or twenty thousand!

They don't lose 10 or 20 thousand. The money is insured.

This video is very informative and worth a watch. Many people don't truly understand how our banking system works, (and I didn't either until I watched this). It puts it in simple terms and makes it easy to understand.


Google Video

reply to post by blackrain17

Only reason I'm is because I just did the same thing to them after they couldn't explain why my account kept fluctuating and then the funds reappeared out of cyberspace. So I left 3.90 in the account and it will stay that way till they fold as far as I'm concerned.

I worked for BOA for two years and learned just how ruthless and scheming they are. As far as BIG banks go they are the absolute worst. Here is a nice little tidbit of info for you folks who bank with BOA. They charge you anywhere from two to three dollars per deposit. Yes I said per deposit. The customer will never see it on their accounts or charges on their accounts. Mind you this is in addition to the monthly service fee they openly charge you. This little fee is one of many undisclosed fee's that only so many know about. They do also pull this scheme on every credit card transaction. At one point in time they could charge up to ten overdraft fee's per day, now its done to three. The crappiest thing they do is manipulate the way charges come through on check cards so now its the all the little charges that overdraw the accounts and snow ball. It was very common to see people overdraft their accounts by a few hundred in a day because of this crap. Suppose you are online banking and you transfer money from checking/savings to a credit card by mistake they will tell you it takes 7 to 10 days to move the money back to the origination account which is complete crap. We could do with one key stroke however we were not allowed to. We had to let the money sit there in the CC account while the customers other accounts got screwed. So ya
that crap about BOA caring about you the customer is just that CRAP.

BofA screwed me with the way they overdraft. They let small 5.00 purchases overdraft multiple times per day instead of letting the big purchase through last no matter in what order you used your check card. Well now I am in Chexsystems. Does anyone know a good bank that will not hold the chexsystems against me, perhaps second chance checking, Thanks

Originally posted by greenCo
This is just plain absurd!! and a heavy signal of inminent bankrupcy.

edit on 5-10-2011 by greenCo because: (no reason given)

edit on 5-10-2011 by greenCo because: (no reason given)

edit on 5-10-2011 by greenCo because: (no reason given)

The real reason Skank Of America's website is down ?

your money is long gone. considering banks are only legally required to keep only 10% of your deposits. they rest they loan out.

the banking system is one giant ponzi scheme. that's why obama had to bail them out to the tune of 700 billion dollars.

there would have been an armed revolution never seen in the history of america. they would have lynched, shot and burned any and all government and bank officials across the nation if everybody lost their accounts.

Originally posted by DarthMuerte

Originally posted by GeorgiaGirl

Originally posted by illuminatislave
reply to post by GeorgiaGirl

 

You do realize that Congress and the Banks work hand in hand?

You do realize that the Congress makes the laws, NOT the banks?

Congress makes them after the banks and mega corps BUY them.

And THAT is why we need governmental reform.

I'm absolutely, 100% opposed to businesses "buying" legislation. We need to shine the spotlight on the corrupt politicians and vote them out of office.

If we would stop bailing them out, and stop letting them buy legislation, they would collapse on themselves if they couldn't do honest business.

Nice topic. It's interesting to read about different experiences with the same basic problem. I'd like to share a positive experience that I had today with another large bank here in Colorado (not Bank of America). Like BofA, this bank is planning on instituting a $5/month fee in months when customers use a debit card to make purchases.

Needless to say, this new fee is an irksome development, so I walked into a branch office today and politely stated that I would like to close my checking account (balance approx $1000).

The process was smooth and I was only asked four questions before being issued a withdrawal slip for the full balance. I'm guessing that the relatively small amount of cash being transferred was a factor in the ease of the transaction.
Q1 - Is there any particular reason you would like to close you account?
A1 - Nah, no real reason. (I figured, no need to cause a ruckus so a little white lie is ok)

Q2 - Did ##bank## do anything to make you upset?
A2 - Nothing specific (again, a little white lie)

Q3 - Do you have any outstanding checks?
A3 - Nope (the absolute truth)

Q4 - Do you have any automatic payments setup?
A4 - Nope (100% true)

To summarize, no fuss was made *by either side*. I didn't rip into the banker about being charged $5/month to use *MY* money. I didn't harp on the fact that they were only paying out 0.01%APR in interest. He didn't give me the third degree about my intentions or plans for the cash. I hope that my fellow ATS-ers have similar experiences when closing accounts.

If I may offer unsolicited advice to all of you who are thinking about cashing out of the system...
1. Be polite and non-confrontational.
2. Resist the temptation to justify your actions.
3. It's OK to tell little lies if it will make the process go smoother. You don't have to tell the banker that you are ape-$%&# mad over the constant nickel-and-diming of your hard-earned currency.
4. Be resolute. Do not let them offer short-term goodies to keep your business; this is an act of desperation and should be promptly rejected.
5. Read your account disclosure agreement. There may be a clause about having to wait a certain period of time before you can access the full amount of your money. This is a standard part of most bank account agreements, so don't be shocked if you have to wait 3 business days to get more than $5k.

I can't believe anyone is dumb or even ignorant enough to have their money in this institution anyhow. People have been complaining for years about their tactics, but still keep their money there and keep paying the fees. Dumb!