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

Originally posted by CALWEST
Did you know that if one receives $10.000. or more in cash from a banking institution this information must be reported to the IRS?

Thank you, I am aware of that. I actually joked with the banking associate about the extra paperwork she'd have to do on the required CTR. In reality of course it is automatically generated by the bank's systems and transmitted electronically to the IRS. It dawned on me part way through my conversation with the manager that perhaps she was really just trying to determine if they should file an SAR instead.


reply to post by dbarnhart
dbarnhart - That's a great story as it exemplifies what is, in my opinion, one of the reasons people everywhere I go are angry. What the hell happened to customer service? Every corporate decision now is driven purely by profits with no calculation for the human element. Clients are not numbers on a balance sheet and not all decisions should be made as if they are.


reply to post by Vitchilo
Vitchilo, thanks for those links. I was not aware of the first story about the attempted buy-out for a measly $5B. What was the result of that? Did they get their immunity?


reply to post by Eye of Horus
Thank you for your contribution but you are mistaken. I asked for no sympathy and i always live up to my responsibilities and the consequences of my actions. That's another button-pushing topic right up there with profits over compassion - the overall lack of responsibility our culture is starting to show. No personal accountability at all, it makes me sick. Oh - and I didn't pick BoA twelve years ago. They picked me by buying up the bank I was with. Complacency has kept me there since, but now that I'm fired up I might skip right past the CU and go straight to minting my own coins. Can we little people play the fiat currency game too? I'm going to try to convince everyone I know that maple leaves have value and they can only get them in the form of loans from me. They have to repay these loans in gold jewelry, as I personally have no need for maple leaves.

reply to post by Tripnman


Well it seems the deal is about to fail since California and NY got out of the deal.

I hope Obama and his banking buddies fail.

Originally posted by Silverkiss
My suggestion to everyone intending to close their accounts with BoA is to make Nov 5 their deadline. Try to have the job done before that date...short odds their system will be overloaded that day and no-one will have access to their money!

I suppose it's possible they will try everything in the book to stall the closings. However, like the OP's story, if a bank EVER tells me I can't get their money because "the system is down", I would NOT be happy nor gain confidence to keep my account there. I have had banks here tell me their system is down for a corporate account. Switched from them the next day.

When banks tell people they can't access their money, expect problems

Originally posted by Tripnman

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.

Funny how when things are looking bad for them they try to make you feel sympathetic for them..like " Oh, poor BofA. I'm feeling bad for them; I may change my mind and stay".

Not funny when they caused me to lose my home in Florida when the markets went to hell. I had 150k equity in 2005, had to put it on the market and move to Washington state because my ex took my infant son and moved to Washington with her family. I also left my 15 yr career in the Sheriff's Office in FL. As you can see, my children come first and my family is where my priority will always be. My ex got pregnant with my daughter, waited until I joined the Sheriff's Office in WA and emptied our apartment and moved in with her mom. I was now juggling a 3 bdrm apt in WA and my home in FL; which had me behind a year in property taxes. After child support started garnishing my paychecks it was impossible for me to catch up but I was still good because I had time before the tax certificates on my properties could be enforced. (2 yrs behind now) I was getting close to catching up to pay the property tax (paid 1 yr off), when all of a sudden my mortgage payment went up to where I couldn't afford it.
I called BofA and they said they paid the taxes for me and now I needed to pay the higher mortgage payment.

I pleaded with them and they harassed me more saying that they were also going to send people out to my house and winterize it and other fees that weren't necessary. I had to give my house away, walking off with 4k when all was done. I told the guy on the phone (I was pissed) that Bof A is going to go down the tubes and you along with it and to just wait. (That was 2 years ago). I should call him back..lol...maybe reminisce.

Don't let them change your mind people. They are ruthless and would not do the same for you. Take them down! Besides, I make more in the Credit Union (nothing substantial, but at least they aren't emptying my account when I put money in it; and they always know my name when I go in). I see no reason that we give these big banks our money and then let them dictate what they are going to do with it. IT'S OURS, we should be telling them what to do.

~ Noah

reply to post by noah1111


What you're really saying is.

Your deposits give them the power to loan money. Certain circumstances dictate some kind of empathy from the corporation. Which never happens, they will kick a family on the street in winter from their warm home (utilities have laws against turning off utilities) just so they can put it on the market for sale.

Its sick.

I just also want to commend you on your account closing! I think it's great that people are doing this. I, personally haven't had an account with a bank in years and I simply don't understand why folks still use them at all when credit unions are much more customer friendly! I also don't use ATMs where there are fees required(except a very few times over the years) I have friends that work at banks and say how many millions the banks get from overdraft fees and ATM fees alone! It's sickening and has been going on for far too long!

reply to post by Tripnman


I think the financial situation that has prompted OWS should be enough reason to stop doing business with not only "big banks" but also many corporations that have moved their business outside this country because the millions the CEO's take home each year in bonuses just aren't enough and they reach even deeper for more profit. I personally would not care if each of the banks that have added additional fees on customers were waived or not. The fact that the citizens of this nation have the power to get the attention of these greedy corporate higher ups should be enough fuel to keep this movement going, and take it to the next level as well. We have the power to move our business and our money from big corporate America to the smaller business owners and back into the hands of the people.

reply to post by getreadyalready


The thought of moving my money seemed insignificant to me as well, but the thought of a paycheck being directly deposited into their hands for a second did occur to me. On another thread the topic of having issues with closing an account came up, and what I said was don't bother fighting them, but if you are like me and as soon as your have a balance it goes directly back out to bills then just spend it all and DO NOT DEPOSIT again! I am sure it is much easier to hand your employer a void check from a new institution and change the direct deposit information so that your payroll check is not deposted in one of these banks ever again.

Just to show how its really works

I choose to keep my money with me at all times, screw those 3% interest!

At least I dont pay them to use my money!

reply to post by Tripnman


Don't get me wrong. I despise BoA un-American dealings as much as everybody else does. I am just concerned about a possible agenda behind a collapse of the world economy, and especially American economy, as I have heard about this possibility by the Illuminati for many years.
On one hand they seem to be imploding their own false economy and yet what are they replacing it with? Probably not gold backed.
I do champion anyone's ability to escape from a deadly bank. The other thing is that all the banks are tied in to the global banking system. There may be some which are not as despicable as others, and the baillouts show us that govt will interfere in the free market system which would otherwise rout out bad businesses through competition. Govt intervention allows bad banks to exist without having true free market competition. Perhaps the horrible truth is that there must be so much widespread corruption that it really could collapse the whole economy.

On seeing the responses here and the 'idea' of the 5th of November is a good idea but ultimately pointless. The reasons for this are:

1) The vast majority of banks are interlinked not just nationally but internationally, so switching money between banks is generally switching between fat cat to fat cat. Some offer better services than others but in my opinion the difference in service is negligiable.
2) If a big bank looks like failing the government will ALWAYS ensure they do not, quite simply because some banks are just to big to fail and its in the governments interest to not let them fail. If a large bank was to fail all staff would lose jobs, savings would be lost (unless protected), mortgages would be under threat (unless the bank is bought out by yet another giant bank), businesses would not be able to get loans which would cost the government.

I agree that something needs to be done, to stop greedy bankers making risky investments with our money, but all transferring money from one bank to another is not the answer. If on the 5th of November everyone transfers their money from bank to bank, it will make the banks look up for a few months and offer some good short term deals to get people back to them and then back to business as usual.

What actually needs to happen is a change in legislation to stop banks becoming to big to fail or to split the high risk elements of banks from 'standard' banking reducing future risk.

reply to post by Tripnman


star and flag, nice move. BOA sucks donkey dick. always has. hope they die in a fire.

reply to post by ThirdEyeofHorus


Not if you are switching over to a CREDIT UNION!

You speak like a defeatist . All you do is criticize OWS and anyone fighting against this corrupt system yet have no solution besides laying down/more bending over for the MAN. I mean thats a cool story bro but people really don't care to continue this way... do you get it yet? More negativity and blah blah more criticizing the people and cause wont change a thing not here and not in those streets lined with protesters Just saying.

You are wasting bandwidth and our time.

Originally posted by UserUser
On seeing the responses here and the 'idea' of the 5th of November is a good idea but ultimately pointless. The reasons for this are:

1) The vast majority of banks are interlinked not just nationally but internationally, so switching money between banks is generally switching between fat cat to fat cat. Some offer better services than others but in my opinion the difference in service is negligiable.
2) If a big bank looks like failing the government will ALWAYS ensure they do not, quite simply because some banks are just to big to fail and its in the governments interest to not let them fail. If a large bank was to fail all staff would lose jobs, savings would be lost (unless protected), mortgages would be under threat (unless the bank is bought out by yet another giant bank), businesses would not be able to get loans which would cost the government.

I agree that something needs to be done, to stop greedy bankers making risky investments with our money, but all transferring money from one bank to another is not the answer. If on the 5th of November everyone transfers their money from bank to bank, it will make the banks look up for a few months and offer some good short term deals to get people back to them and then back to business as usual.

What actually needs to happen is a change in legislation to stop banks becoming to big to fail or to split the high risk elements of banks from 'standard' banking reducing future risk.

i disagree that it is pointless. i moved my money to a local credit union with no ties to "Big Banking" and have not regretted it. BoA was my former bank and after all the fee hikes and horribly poor service over the last 8 years they no longer get a single penny from me.

However, you are spot on about a change in legislation, the big banks really do need a short leash.

Proud to say I have been part of a credit union for 10 years now. Best choice i have made, I was a victim of Wells Fargo before i joined

reply to post by getreadyalready

i believe the banksters can loan 7777 dollars for every 1 thousnd in deposits they hold

Similar things are happening here in the UK. People are fed up of being charged £18 a month for an account, and £5 a day if you go a few pence overdrawn!

Withdraw your money people! We need to move in mass to make a difference!

Cheers

Robbie

To usernameconspiracy,

LOL! Why is it people like you don't understand the TRUE purpose of protesting? The true purpose of protesting is to get the message out. Would this man have closed his BoA account if he didn't know about all the protesting?

He closed his account because there were 1000 people with signs walking around and spreading the message.

reply to post by IshmaelKipling


So TPTB are behind a protest with the purpose of destroying everyone's life and that means the poor!!!??? This is Obama, Soros and others telling you to crash your economy!!!!! Don't crash your economy. You have nothing to replace it with. And no cooperation but too many guns!

There isn't hardly any capital or money in this artificial system!

I cant withdraw any money from my bank account because I have been in debt since I was a student and have an overdraft which Im never out of !
it sucks to be me but I really need to buckle down and not live beyond my means and just save until I can pay it back then close my bank account