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Location: where you sip the tea of the breasts of the spinsters of Utica
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Quote:
Originally Posted by k374
.....Why do people even have deposits with this bank? I don't get it.
Because all banks are about as evil, but BOFA has more branches and ATMs around the country than the others.
By using their ATMs, right now I can save money over paying the fee another ATM will charge. Of course if the new fee takes place, I will move my account to a bank that doesn't charge it - if there is one that doesn't follow BOFA.
There's no sense in talking about which bank is more evil than another. There's no sense in talking about loyalty (except for certain credit unions), they're all coldhearted corporations that don't have any loyalty to you.
At the moment BOFA has slightly more options, more locations, and better technology than local banks, with the service being at least as good (maybe better, since they can afford to hire better paid, more qualified employees). So they're the one I choose for now.
Is the reason why you are so comfortable taking the side of the bank because you work for one?
These new regulations have been churning around Congress and the Federal Reserve since 2007. Nothing new here.
Why don't you do some searching to see what these banks have been planning for the past 4 years (Pre-Greece, Pre-Mortgage Collapse, Pre-Bailout).
I formerly worked there, yes, but that has no bearing on my bias. I'm merely a firm believer of the western banking system. And I inherently understand that the economic crisis is here to stay unless the financial system heals itself.
Part of my former job was banking functionals. Have studied Asian, European and South American banks in detail. BAC is actually being late in this kind of fees. Foreign banks have one million fees attached to them. And with government regulations flying left and right, the increased cost of personal banking is only a matter of time and is the future.
Shutting an account down for a charge of 5 bucks is mere saber-rattling and way over the top.
Im staying with BOA the locations are everywhere unlike Chase and TD Bank.
And state of the art secure. They guard my credit cards like hounds. Caught theft transactions thrice. The best online banking system out there. Extremely hacker proof in an age of cyber crime.
I have posted this before,my credit union is in Denver and I have lived in FL for over 20 years.I have free ATM thruout USA also many other services.I can also deposit a check thru there security and my scanner for free.So I guess banks are in trouble or greedy.
BofA should die because of their horrible service and high fees more than anything else. Their rates are way high compared to Wells or Chase. There's a good reason why their stock has plummeted so much. It reflects how people regard their product or service.
NJBest - you can photo and email in your deposits with an iphone or Android phone these days.
I have posted this before,my credit union is in Denver and I have lived in FL for over 20 years.I have free ATM thruout USA also many other services.I can also deposit a check thru there security and my scanner for free.So I guess banks are in trouble or greedy.
Right. While depositing via scanner is not as common.... free ATM use is. It seems silly to run around only using ATMs that belong to a specific bank.
I went inside BofA this evening to ask them about the fees.
They told me "it hasn't started yet". (Duh. I knew this)
She said, "IF it is initiated it will be in Jan 2012". (Duh. I knew that too)
I asked her if it had anything to do with the banks not being able to charge up the merchants because of the cap, and they're putting that charge back on the consumer.
She said "I don't know". I asked, "well if you don't know, who in this bank does?" She said, "nobody because we haven't been told anything yet".
I laughed walking back to my car.
I saw a report on the news this evening that the money BofA is missing from the merchant cap amounts to 2 billion. And if every customer in the BofA system used their debit card it would amount to an extra 3 billion per year for the bank. Meanwhile they made 71 billion in profit last year alone.
What's an extra 1 billion OF YOUR OWN MONEY going into the BANK'S POCKET for? That's b.s.!!
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