Bank of America begged me to not to close my accounts - want to help?

reply to post by Tripnman


Though I am not a member of Bank of America (all twenty-five of my dollars are in Wells Fargo, Yay!), my sister is a BoA member, and she's had chronic problems with her affilitation. After our mother and grandmother passed, she recieved both of their homes in their final wills, and has nearly lost both houses through "careless" business habits of the BoA employees. She pays for the mortgages on the home on time, never missing a payment, yet on six seperate occasions some banker has nearly lost her those properties because they "simply forgot to press the right button." Really? I can understand once, but SIX TIMES?
At what point does it stop being incompetence and start being a conspiracy.
On one occasion one of the houses was 1 week from auction before she ever figured out that "the wrong button had been pressed again", because someone forgot to file the process with the notice office, so no notifications were ever sent out. One week from illegally losing her home. Sick.

i thought i would have trouble removing my cash and putting it into a credit union so i went to my local schools credit union. Some Credit unions have exclusive membership, you have to be this or that to open an account there. When i got to the C.U. they told me that since i was a member many years ago, even though i no longer met their criteria to join their specific C.U. that i would be allowed to return since i was a prior customer.

just information in case people didn't know that, i didn't.

i had closed my C.U. account when i moved to Missouri from California.

I would like to add a small, semi-related anecdote.

In about 2003 or so when Dell decided to ship all of their business support offshore, businesses started talking with their wallet. They voiced their displeasure with the difficult-to-understand Eastern Indians and began bailing. Dell quickly reversed course began to move many of their support operations back state-side. By that time much of the damage had been done.

My point is, if enough people take action, we really can hit the big guys where it hurts. No doubt about it. Right now, a coffee can in the back yard is safer than any bank. Keep up the good work.

reply to post by Tripnman


B of A currently has about 54 trillion in derivatives exposure.
They, along with many others will go down because of this.

reply to post by Tripnman


FDIC will never go broke

This article explains how 2 years ago(written on Nov. 27, 2009) the FDIC was 8.2 BILLION in the hole. I'd hate to hear what it is today.

For everyone on ATS and anyone else in America. By giving banks money to deposit you are only assisting them in continual destruction of our economy. There is a solution folks, and this thread is spot on. You don't need to sit outside in the cold for weeks protesting. Calmly walk down to your local branch bank and take your account to zero. You don't necessarily have to close your account, and without everyone's deposits the banks can't do business.

I grew up around banking and before I was out of high school was a bank teller(during Y2K), and I can tell you if you are planning on making a withdrawal on Nov. 5th there will be a good chance they will have extra cash available.

My point is we all know the banks are the problem. Our Founding Fathers warned us about them. There is no point in supporting their efforts to destroy our way of life for their gain.

Down with the banks and End the Fed!!

reply to post by Tripnman


I just wanted to say this is a high-quality thread. There are so many people posting pages of rambling or a picture of Ron Paul and an alien. This is a real guy with a good story and quality message behind it. Well done sir. I am happy that my TCF bank has not become subject to any new fees. I'm not sure if I would have the energy to close it out and change all my direct debit monthly charges. Bravo sir.

GOOD FOR YOU!!!!!!

I got out of all banks and am in all cash since early 2008. The only money I keep in the bank is in and out quickly to pay bills. Even though I use a small local bank with a very good reputation that has been around for over 100 years, I still trust NO bank anymore.

I also cashed in my 401K at that time and the market still has not gotten back up to where it was when I pulled out. I do not think it EVER will get back to that point.

Even with the fees and penalties I had to pay I am still ahead.

Wow, how awesome of you! Bet that was kind of fun, huh? I bank at a small town bank and withdraw cash for my savings every other paycheck to have it in cash and they've never even blinked, though your withdrawal I'm guessing is a much more significant amount. Thanks for sharing that story...

Originally posted by MidnightTide... Food, water, ammo - get the essentials...then get some precious metals and rare colored diamonds.

Food, water, ammo--check!...
Precious Metals = Resource stocks: Rio, FMG, BHP. there's $$ there for sure...
Colored Diamonds? Id call that throwing good money after bad. the only reason to buy diamonds is to get laid, not to invest.

just my advice

I left bank of america about 10 years ago because of checking fees and issues with my business account....

I tried to give them another chance when we needed a POS system for a store I was working with opening...

The guy came in and gave us a good sell and told us this machine would do everything we needed and it did he also told us it would be $4000 at $130 a month not to bad.....we also got like 60 days before the first bill....

60 days later we get a bill for $8000 and the monthly price was $260 or so I can't remember but def not $130 a month...

We got on the phone with a manager that handles the POS stuff and they are like oh well you signed a contract blah blah this that and we told them the contract does not even have the price on it that we were told it was half of the price you are charging....

Few days later after investigating on their part we get a call.... Sorry sir it turns out that the sales person that sold you that unit has been doing this to multiple people to get a higher commission payout on the units and is being fired.... they tried to talk us into keeping it but gave us the option to let them send boxes and we box it up and ups come get it... We returned it

Although not the worst experience we ended up with no POS system got conned by a BOA employee and lost out on time and effort of entering all of our inventory and learning the pos system onto to have to get a different one from somewhere else, ect...

BOA will screw you left and right...

If you use a credit union make sure they do not put their money into another bank like BOA or CHASE otherwise there is no point of moving your money to a CU

I personally use a walmart greendot card and I only put money on it when I need to buy something with a credit card... although that may not work for some people who use allot of money or don't want to keep cash I do not have much money so it works for me lol

The greendot costs $4 to load money on the card at most places and $3 at the walmart register... Capital one prepaid card has higher ATM limits and a higher limit you can keep on your card I also have one of those and you can refill it at any western union location for $5... neither has monthly fees they make their money when you reload which is fine with me I reload when I am going to buy 2-3 things so I am not reloading and spending $5 every day to put money on.

Even though I do not fully support any bank I do like capital one prepaid and I do not leave money in my account for they to play around with like I said I put money on and spend it and pay their $5 fee to load money which I think could be cheaper but is a fair price.

I also know some people do not like or support walmart, I do support them once criticize I have about them is the low workers wage compared to their posted yearly profits. Other then that they provide the lowest prices for just about everything, yes they do push out mom and pop stores sometimes but only in areas that have grown in population where mom and pop stores are to small/expensive for most people to shop... I have literally never found any item anywhere else that walmart didn't have cheaper plus they price match, plus they have a great return policy... So yes I am pro walmart but would prefer they pay more so that you get a better customer experience because most of the people do not work they because they like the job and you can tell..

reply to post by Tripnman


I call shenanigans on this post.

You say "stacks" of money...$10,000 in $100 bills is less than an inch thick. You are claiming to have "stacks" of these....a grocery bag full of these.

Most banks won't allow you to withdraw that amount of cash with at least a few days advanced written notice, if not more than that.

Plus you should of been having to fill out some major paper work to withdraw that amount of money....especially from a business account.

So either you are dramatically over stating the amount of money...or you are making it all up.

Either way...it makes me take everything you said with a grain of salt.


ETA: I fully support the Nov 5th bank transfer day...I just don't buy your story.

Originally posted by usernameconspiracy
reply to post by Tripnman

 

And with that, you did more than 1,000 protesters will ever do sitting around in a park, carrying an ambiguous sign to effect change.

I fully agree with OP and you. This is the way to tell big banks we do not take it any longer. As opposed to people go amass into a branch and make it a demonstration.

I am already with a local credit union, but I'd advise all who still have their accounts with the big ones to close it well before November 5-th and do it elegantly and quietly just as OP did.

x

Originally posted by emeraldglow

Originally posted by belidged
reply to post by Tripnman

 

FDIC will never go broke

This article explains how 2 years ago(written on Nov. 27, 2009) the FDIC was 8.2 BILLION in the hole. I'd hate to hear what it is today.

For everyone on ATS and anyone else in America. By giving banks money to deposit you are only assisting them in continual destruction of our economy. There is a solution folks, and this thread is spot on. You don't need to sit outside in the cold for weeks protesting. Calmly walk down to your local branch bank and take your account to zero. You don't necessarily have to close your account, and without everyone's deposits the banks can't do business.

I grew up around banking and before I was out of high school was a bank teller(during Y2K), and I can tell you if you are planning on making a withdrawal on Nov. 5th there will be a good chance they will have extra cash available.

My point is we all know the banks are the problem. Our Founding Fathers warned us about them. There is no point in supporting their efforts to destroy our way of life for their gain.

Down with the banks and End the Fed!!

FDIC may not go broke, but your bank CAN lose their FDIC guaranteed status. It happened to Bank of Hawaii a few years ago out of the blue. Account holder only got a small notice in email about it. Note BOH is not a small one have branches in all the Pacific region.

why do I share all of this with you? For one, I wanted to let people know that it IS still possible to withdraw large sums of cash from BoA and close your accounts - just be ready for them to beg. Two, that management is aware that people are angry (how could they not be!) and have put an ear to the ground.

So you walk out with a grocery bag full of cash, you say? And you call yourself a "business owner"? Apparently, not "business-savvy" enough to simply transfer money electronically through online banking, wire transfer, or ACH, but instead take the unnecessary risk of carrying large sums of cash around on your person.

You are very, very lucky - in this day and age - that you were not robbed. Walking around with this kind of cash on your person is very dangerous in this day and age.

The manager was pleasant enough and very direct. After introducing herself she flat out asked "What can we do to change your mind?" "We don't want to see you go" she emphasized. This opened a door for me to further explain my decision to leave the bank and why I was doing it.

Sounds like you had a Branch Manager that showed empathy, and was actually doing her job by providing caring, attentive customer service.

Strange how you have to rely on forum members to articulate the reasons why you would have left the bank in the first place. For a business owner, you would think you would have solid business reasons as to why you were switching banks, yet you cannot articulate a single reason whatsoever.

I asked if there would be an issue with securing the cash and she said "I honestly don't know if we have that here" and walked out to get the branch manager.

Most banking is electronic. We live in the Information Age. Retail banks keep historical data to estimate the actual hard currency they need to keep on hand to handle day-to-day cash withdrawals.

Typically, only drug dealers and con men need this kind of hard cash currency, so your request I am sure raised a few eyebrows.

Yesterday was different. I visited a branch to make a business deposit

You must have a tiny small business with very little profit and small sales volume.

If you were of a larger scale, you would have had a personal one-on-one business relationship with a Senior Commercial Lender or Business Banking Relationship Manager that would address any of these concerns. Based on what you have outlined here, you're a small fry.

Sorry to burst your bubble, but your deposits were a small a drop in the sea compared to the deposits carried by larger businesses at these mega-banks. Your withdrawal from the bank was hardly a substantial loss, I assure you.

Now, if you were the CEO of a Fortune 500 company, and said that you had made a business decision to move your accounts to another institution, you might have a real story here.

Big Business banks with the mega-banks, as your local credit union simply doesn't have the sophistication, resources, or capacity to handle the business banking needs of a large Fortune 500 company.

reply to post by Tripnman


why just take your money out of the big banks ,why not take it out of all banks and trust companies and put it in the credit unions.
why not cash in all of your bonds and debentures as they are not worth the paper they are written on . a bond is a debt. even if it is guaranteed by the governments-what a lie.the u.s. national debt. is 14 trillion alone this does not include the debt of the cities ,counties or townships.
so where does all of this money come from to pay you all back when these bonds mature as the governments of this world are so far in debt to the banks that they do not have 2 pennies to rub together.oh that is right when the new group of suckers buys into this ponzi scheme called bonds our governments now have cash in hand to pay the maturing peoples bonds back they even have the balls or galls to stand up before the people and dare say that they need X # of bonds sales this year -and like the good citizens that we all are millions buy into this scheme of theirs .keeping this lie of theirs afloat once again. and what happens if they get say 10 billion more in bond sales say this year -why of couse they run to banks with this cash in hand and borrow many more millions that they can not afford to pay the interest on let alone the debt.
here in the great white north canada we have other problems created by the banks to fleece us of our hard earned cash.their not this white saint in garb they portray to every one.
they all raised their service charges along with the minimum amount to be service charge free by 50% ,for less services.
do you remember the day that the banks quiltily told us that we were now in a recession caused by them and their greed ,this was at 2;30 in the afternoon .well at 9;30 in morning they quietly raised credit card rates by 5 to 7 % on all those who had a rate of 12 % compounded and up.
morgage rates of 3.50 % equals a repayment of $200,000.00 interest + the $100,000.00 you borrowed.
credit cards are the same rate of repayment 2 interest to 1 if you pay minimum payments at 3.50%
what about fianance rates of 28 % your rate of return payment is about 9 parts interest to 1 principal
best buy and future shops rate is 33 1/3 % or 10 parts interest to 1 part principal
this is highway robbery.
especially since the banks sell this money to these companies at a price ,not stated anywhere.
my best advice to all is quit buying all products that al not needed or nessary . in other words get only the basics no more big screens no more gass guzzleing vehicles ,especially cars and trucks.
all oil companies made 25 to 27% IN THE FIRST QUARTER OF THIS YEAR THAN THEY MADE IN ALL OF LAST YEAR,and they have sold a lot less gas.
secondly pay off those damm cards and never use them again ,turn them in and turn your backs on the banks .pay them off as fast as possible by only getting the basics and forget the extras, getting rid of the extras saves as an example 1,400.00$ a month as my sister found out when she finally decided to listen to me.and she had a credit card debt of 22,000.00 $ at that time ,it is now down to 1,400.00$ after 2 years.
up here they and our government schemed together and came up with tax free bank accounts that they promised they would pay us 3% on just after the recession started-guess what they are only paying .25% interest on these accounts blaming it on wait for it the state of their mess, the bad economy. what is more amazing is that they the banks up here are reporting record profits ever since they almost collapased the banking sysem by them giving out bad loans ,that they knew would fail, it is no wonder they continue to lend money to our goverm,ents as these mental midgets and morrons don`t have a clue about finance or banking as they continue to borrow like drunken sailors on leave that don`t have a penny left.
and these are the same bankers who don`t need any controls put on them or so they say,or is it that they own our governments and law makers and they have all of these so called leaders in their back pockets and nothing will change as always.
damm those CREDIT UNIONS are starting to look good to me.
one last note for all; why is the banks use my money and yours for loans at extortionistic rates and yet they get to dictate to all of us what interest they will pay us ,being as it is our cash and not theirs.
cash is king people and it always will be.
a run on the banks would put them out of business, and it would show them that we the people of the world are pissed for goood reasons.maybe then the governments of the world would unite and force them through laws to change and correct their corrupt system of enslavement.
if nothing changes then expept a world wide revolution ,let us hope the police and military`s stand down and do they jobs which is to serve and protect the people of our nations.their WAGES WE PAY.

reply to post by cartenz


It's difficult isn't it. How do you store wealth during an financial / social apocalypse? Paper money, well that's obviously pointless. If hyperinflation doesn't kill it, it may just get "written off". It's intrinsic value is nil. Gold.. gems... well you can't eat them. They are only worth something if you have a buyer.

The problem is, how do you persuade the wife that the world is about to end, and we need to invest the life savings in tins of beans and powdered egg. .

I'm personally not bothering. I'm hoping to have enough of an advantage, that I can stock up if it's obvious doom. Just a few days before the headless chickens will do me. Plus, it's more exciting this way...

Most $ are 0 and 1 in a computer. If there is a rush to withdraw cash, no one will get any money and the US will be in total chaos. It will happen but when it does it will affect even your Credit Union my friend and Credit Unions are not all they are cracked up to be but you don't realize that yet.

Originally posted by Destinyone

Originally posted by Willbert
What you did, you did for yourself. I'm not disillusioned to think believe you care about me or others who use that bank. You made your move to protect your assists and nothing more. Suggesting otherwise is just bordering on looking for attention. Asking me or others to cater to you for free on what to say to individuals who you are displeased with isn't my concern.

no star/flag.

A little jealous are we.....

You think.. and that's all your comment is.. your opinion. To clarify your comment.. no I'm not. Your to short sighted to give any explanation as you already fill in the gaps with what you deem appropriate..

Most $ are 0 and 1 in a computer. If there is a rush to withdraw cash, no one will get any money and the US will be in total chaos. It will happen but when it does it will affect even your Credit Union my friend and Credit Unions are not all they are cracked up to be but you don't realize that yet.

Very true. For starters, credit unions don't have the trained personnel for specialized commercial finance or even sophisticated business banking transactions. As your business grows, and you expand, you need tangible advice and services that you won't find at a credit union.

Need to do an International Letter of Credit for your client in Switzerland? How about recurring Wire Transfers from a sophisticated online banking platform at a discounted rate? Need to finance that latest high-tech equipment gizmo to help your business operate more efficiently? Interested in financing that new commercial building using an SBA 504 loan? How about a $3.5 million Business Line of Credit to finance your Inventory and Receivables?

Good luck dealing with the local credit union on these kinds of business banking needs. They won't have a clue.