Becareful when opening up a CD with Bank of America Corp.(NYSE:BAC). The experience is even worse than my already low expectations with banks. They are learning quickly from Countrywide.
I opened a CD with Bank of America on Jan 31, 2008. The rate they advertised on the web-site were for 3.75% for a four month CD.
They took a initial deposit on Feb 08, 2008. I got a CD Deposit reciept. It said the term was 4-months, but they cut the rate down to 3.30%. When I looked on-line, the CD said the term was for 9-months. So now, instead of a 4-month 3.75% CD, they opened a 3.30% 9-month CD. Now this is a risk-free cd but why would they change the terms around?
So I called them up. After waiting 30 minutes, they transferred me to consumer department. After waiting another 30 mintues, the consumer department tells me that the CD department is closed and there I would have to call back tomorrow. Waste of One-Hour.
The next day, I called the phone number on the CD Deposit Receipt. I spent 30 minutes waiting and then trying to explain what had happened. They told me I signed up for a 9-month CD. I told them I have a letter from BOA showing it's a 4-month term. She told me that she did not have access to all the information that on-line CD people have!!! Two departments for CDs!! This is what I call a China Wall!
So I got transferred again. I then talked to another associate in "Internet" CD department. She had no clue of what to do. So I told her I wanted to talk to her manager.
I again went through the whole ordeal again. She is telling me that I must have clicked on the wrong option and other crap. She also acknolwedged there was a 4-month 3.75% CD. When I told her I had a paper with 4-month term, she told me to fax it to her.
I have faxed it to her. It has been 5-hours and still no phone call from her. When I call the number she gave me, they give a different excuse everytime.
I am going to wait a few more hours and then try back again.
11 comments:
While you're waiting, here's a suggestion: go online and make complaints to the FDIC, the OCC, the FTC, your state Attorney General's office of consumer protection. Then call or fax the info also to your Congressional rep and your senator.
Then when you call BOA back, tell them all the complaints you've filed.
Anonymous,
Thanks. I have done that in the past. It's annoying because it's time consuming. But I guess I have no choice.
I wrote it here to alert others to this practices. Hopefully it will save other people some trouble.
I've had CDs with BOA with no problems. First of all, the online rates are always higher than in the bank - so sign up online if you want the best deal - it requires no trip to the bank they will mail you the form to sign.
If your paper truly says 4 months, I'm sure they'll honor it.
I yanked all my money out of the back and bought SILVER and GOLD
I had a similar experience :(
It's awesome for me to have a web site, which is valuable designed for my experience. thanks admin
Feel free to visit my web page forex day trading
This is really attention-grabbing, You are a very skilled blogger.
I've joined your feed and look ahead to in quest of extra of your excellent post. Also, I've shared your website in my social networks
Also visit my page ; automated forex trading software
Hey there! This post could not be written any better!
Reading through this post reminds me of my old room mate!
He always kept chatting about this. I will forward this post to him.
Pretty sure he will have a good read. Many thanks for sharing!
My web-site ; forex demo account
Hi there, I want to subscribe for this website to get latest updates, so where can i do
it please help out.
my page; Mahsex.Com
Thanks very nice blog!
Here is my page http://xxx-video.org/
When I originally left a comment I seem to have clicked on the -Notify me when new comments are added- checkbox and
now every time a comment is added I recieve 4
emails with the same comment. Perhaps there is a means you
are able to remove me from that service? Appreciate it!
My site; http://www.blowjobsstreet.org
Post a Comment