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Bank of America
Bank of America must be on the verge of bankruptcy. But don't worry, they
announced today that they have found a solution. To make an additional $5 million
dollars per day from over 11,000 ATM machines nationwide, they have decided to raise
the fee to $3 per ATM transaction for non-customers.
As the leader in the banking industry they also wanted to be the leader in the highest
ATM fee's ever charged by a bank. I understand a company has to keep up with
expenses but when it comes to the technology involving ATM transactions the cost
should be going down not up.
My dislike of Bank of America is quite evident and below is an example of just one of
my reasons.
It all started some years back when a friend gave me a $500 check for some items I
sold him. His account was for a branch in the next city but there was a closer branch
to where I lived. I decided to cash it in person and went to the closest branch.
There were plenty of funds available in his account, I had all kinds of proper ID, but
they refused to cash it because I didn't have an account with them so they said I had to
go to his branch.
They stated that because the amount was over $300 it was their policy to verify the
check with his signature card. I told them to call the other branch and pull his
signature card, fax it here and compare the signatures.
They refused. I refused to go away. I "opened my big mouth" in front of all the
customers and employees about how Bank of America would not honor a check from
their own bank that had funds verified and me with tons of proper ID.
I remember everyone staring at me like a it was a bank robbery in progress. The
manager said they would go ahead and cash it this one time only. I said that's no
problem as I would never accept a check from their bank from anyone again.
My friend was embarrassed and furious that his bank would not honor a check he
wrote. I personally prefer smaller local banks due to their superior customer service,
friendliness and their desire to make their customers feel appreciated for banking with
them.
We will have to wait and see if other banks follow their lead and raise their
non-customer ATM fees. As an example of B of A's attitude towards it's own workers,
see this NY Times article.
Here is another B of A article from a pissed off consumer that is on The Consumerist
website.
Bank of America must be on the verge of bankruptcy. But don't worry, they
announced today that they have found a solution. To make an additional $5 million
dollars per day from over 11,000 ATM machines nationwide, they have decided to raise
the fee to $3 per ATM transaction for non-customers.
As the leader in the banking industry they also wanted to be the leader in the highest
ATM fee's ever charged by a bank. I understand a company has to keep up with
expenses but when it comes to the technology involving ATM transactions the cost
should be going down not up.
My dislike of Bank of America is quite evident and below is an example of just one of
my reasons.
It all started some years back when a friend gave me a $500 check for some items I
sold him. His account was for a branch in the next city but there was a closer branch
to where I lived. I decided to cash it in person and went to the closest branch.
There were plenty of funds available in his account, I had all kinds of proper ID, but
they refused to cash it because I didn't have an account with them so they said I had to
go to his branch.
They stated that because the amount was over $300 it was their policy to verify the
check with his signature card. I told them to call the other branch and pull his
signature card, fax it here and compare the signatures.
They refused. I refused to go away. I "opened my big mouth" in front of all the
customers and employees about how Bank of America would not honor a check from
their own bank that had funds verified and me with tons of proper ID.
I remember everyone staring at me like a it was a bank robbery in progress. The
manager said they would go ahead and cash it this one time only. I said that's no
problem as I would never accept a check from their bank from anyone again.
My friend was embarrassed and furious that his bank would not honor a check he
wrote. I personally prefer smaller local banks due to their superior customer service,
friendliness and their desire to make their customers feel appreciated for banking with
them.
We will have to wait and see if other banks follow their lead and raise their
non-customer ATM fees. As an example of B of A's attitude towards it's own workers,
see this NY Times article.
Here is another B of A article from a pissed off consumer that is on The Consumerist
website.
