Monday, January 25, 2010

Strong Armed By Bank of America

I bank with Bank of America. I was in the bank the other day and overheard a teller charging a customer $16.00 for a transaction that I get for free. This customer was charged because they did not have an account at Bank of America. This is the same transaction that I do at other banks, where I do not have an account and they charge me anywhere from $0.00 to $11.00, depending on which institution I am visiting. Didn't it used to be that banking institutions would offer toasters and desk sets as an incentive to open an account? I briefly spoke with the young manager questioning the thought process behind the fee. His response was, "Makes you happy your with us huh?". Sounds like in order to avoid the problem - the fee - that you have to become part of the problem - the bank-. The incentive now to open an account at Bank of America has changed from, 'Look at what we can offer you.' to, 'Look what we won't take from you." My banking decisions are being made for me. I DO NOT LIKE THIS!!!

1 comment:

  1. I believe the resolution involves a change from using traditional banks that forever will rip you off, to using bona fide credit unions that are owned by the members who "bank" with these cu"s. These are "user Friendly" in most cases.

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