U.S. CitiesCity-Data Forum Index
Happy Thanksgiving Day!
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-05-2012, 08:36 AM
 
Location: Los Angeles area
14,017 posts, read 18,783,297 times
Reputation: 32437

Advertisements

Quote:
Originally Posted by Philip T View Post
Not likely an error.

Repeat this "error" thousands of times, and figuring that only maybe 1 in 10 customers even notice or complain, and half of those do not get the returned credit . . .

Fraud, err ah "errors" work out to become nice little profit centers.
O.K., let's say those "errors" are intentional. I have no inside information which allows me to say they aren't, nor do I claim that they wouldn't do that, although I remain unconvinced. That is, in my own mind I just don't know if they are intentional or not.

What interests me is your estimate (and I read it as your own estimate only) that "only 1 in 10 customers would even notice or complain". You have a very pessimistic view of how many people are paying attention to their own money. I would catch such a thing in a split second (metaphorically speaking) and I would complain immediately upon discovery. Are there really that many people not monitoring their accounts for fraud/unauthorized charges? If so, I find it scary. It is so easy to do - one only has to look at the account online and verify that the balance shown by the bank equals the balance one has kept track of oneself. The frequency of such monitoring would be according to each person's comfort level. With me it's a minimum of once a week. People's negligence does not excuse wrong-doing by a bank, but negligence on that scale (provided you are close to correct) surprises me.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 12-05-2012, 09:16 AM
Status: "Bartlet, er Biden, for America!" (set 21 days ago)
 
Location: The Triad (NC)
31,229 posts, read 68,788,361 times
Reputation: 37132
Quote:
Originally Posted by The great chase View Post
for the second or third time out of ~2 years, Bank of america randomly charges me a $8.95 fee
How does their paper (or online) statement describe this "randomness"?

I wonder why I've never had one of these "random charges" from a bank...
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-05-2012, 12:22 PM
 
Location: Alaska
3,038 posts, read 2,891,422 times
Reputation: 5178
Quote:
Originally Posted by Philip T View Post
Not likely an error.

Repeat this "error" thousands of times, and figuring that only maybe 1 in 10 customers even notice or complain, and half of those do not get the returned credit . . .

Fraud, err ah "errors" work out to become nice little profit centers.
I absolutely agree with your premise but rather than thousands, it's probably more like tens or hundreds of thousands of "errors".

Of course, if the "error", we're in our favor, BofA wouldn't even hear an explanation or apology but would move heaven and earth to get the money back and probably slap us with some type of penalty.

That's why like the previous poster, I also do my banking at an FCU.

With few exceptions, f*** the banks.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-06-2012, 08:29 AM
 
344 posts, read 389,365 times
Reputation: 318
I would never do business with Bank Of America.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-06-2012, 08:51 AM
 
7,479 posts, read 4,355,917 times
Reputation: 7011
Ditch Bank of America.

Zombie bank.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-08-2012, 08:55 AM
 
344 posts, read 389,365 times
Reputation: 318
What is comical is seeing all the BOA advertisements in this thread.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 11:51 PM.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top