Check Enclosure Fee $3.00 each statement cycle
It doesn't seem to matter which account or what your balance is, write one stinking check & you'll get hit unless you agree to go totally paper-free
Full Version: BOA is at it again aaarrrrggghhh
Just got hit with a new fee:
Check Enclosure Fee $3.00 each statement cycle
It doesn't seem to matter which account or what your balance is, write one stinking check & you'll get hit unless you agree to go totally paper-free
Check Enclosure Fee $3.00 each statement cycle
It doesn't seem to matter which account or what your balance is, write one stinking check & you'll get hit unless you agree to go totally paper-free
Oh, no. I just started to write checks from BOA, now it seems like a bad idea!
Did they still send your checks back to you? I'm with Wells Fargo and it's been several years now that they don't send the checks back to you. Instead they provide scans with your statement.
I thought paper checks for free was grandfathered in... looks like I may be leaving BoA soon 
I haven't received my statement in the mail yet, but there should be one cancelled check in there. I found the fee this morning when I logged in to pay a BOA cc bill online.
I'll be switching banks soon, I'm very tired of BOA's crap. Time to start checking out alternative banks.
I'll be switching banks soon, I'm very tired of BOA's crap. Time to start checking out alternative banks.
I had a Citicard cc that was recently trans'd to BOA. I recently paid off the $5,000 balance and was thinking of trans'ing a high APR cc to this one. I went on today to complete the transaction and noticed that BOA lowered my credit limit on the card from $6,100 to $500. Wow, that was nice of them.
IMHO, it won't be the new locations with recently built building that will be closed. Rather residents of big cities and poor areas will soon see many BoA branches closed. Plus, I don't know about other parts of the country, bank robberies have been up recently around here. Really don't read about banks in the rich burbs being robbed too much.
http://articles.moneycentral.msn.com/Inves...;_blg=1,1206456
QUOTE
Bank of America to cut branches
Customers prefer mobile banking, bank officer says.
Bank of America (BAC) will soon cut about 10% of its 6,100 branches across the country, The Wall Street Journal reported this morning.
CEO Ken Lewis discussed the plans at a meeting last week in Charlotte, N.C., according to the report. Liam McGee, president of Bank of America's consumer and small-business bank, confirmed that branch closures are in the works but said it would be premature to specify how many locations could be closed, the report said, citing people close to the situation.
McGee said that shifting consumer preferences were behind the closures. As more people bank online and through their cell phones, fewer physical branches are needed, the report said.
Neither Lewis nor McGee said when the branches would be closed.
Rochdale Securities analyst Dick Bove has a differing opinion as to why B of A is closing branches: "They are not economically viable," he wrote in a note to clients. "The branches are likely to be closed for three reasons: a) branch economics are changing;
the need for positioning has been reduced; and c) the fear of regulation suggests closing branches now makes sense," Bove wrote.
"When America was building new houses in the millions; it was creating new neighborhoods. Banks competed with each other to get branches into the new communities in the choicest locations. Branches were often built in supposed choice locations just to keep the competitors out. This strategy has now been abandoned. Many of the new communities have been abandoned. These branches need to be abandoned," Bove said.
At the end of 2008, Bank of America's retail banking operations could be found across approximately 82% of the U.S. population, in 32 states. The company holds 12.2% of all U.S. deposits, according to SNL Financial.
Rivals Wells Fargo (WFC) has 6,668 branches in 39 states after acquiring Wachovia last year; JPMorgan Chase (JPM) has about 5,100 U.S. branches, after closing 390 former Washington Mutual branches.
The pullback comes as Bank of America continues with its integrations of Merrill Lynch and Countrywide Financial.
Customers prefer mobile banking, bank officer says.
Bank of America (BAC) will soon cut about 10% of its 6,100 branches across the country, The Wall Street Journal reported this morning.
CEO Ken Lewis discussed the plans at a meeting last week in Charlotte, N.C., according to the report. Liam McGee, president of Bank of America's consumer and small-business bank, confirmed that branch closures are in the works but said it would be premature to specify how many locations could be closed, the report said, citing people close to the situation.
McGee said that shifting consumer preferences were behind the closures. As more people bank online and through their cell phones, fewer physical branches are needed, the report said.
Neither Lewis nor McGee said when the branches would be closed.
Rochdale Securities analyst Dick Bove has a differing opinion as to why B of A is closing branches: "They are not economically viable," he wrote in a note to clients. "The branches are likely to be closed for three reasons: a) branch economics are changing;
the need for positioning has been reduced; and c) the fear of regulation suggests closing branches now makes sense," Bove wrote."When America was building new houses in the millions; it was creating new neighborhoods. Banks competed with each other to get branches into the new communities in the choicest locations. Branches were often built in supposed choice locations just to keep the competitors out. This strategy has now been abandoned. Many of the new communities have been abandoned. These branches need to be abandoned," Bove said.
At the end of 2008, Bank of America's retail banking operations could be found across approximately 82% of the U.S. population, in 32 states. The company holds 12.2% of all U.S. deposits, according to SNL Financial.
Rivals Wells Fargo (WFC) has 6,668 branches in 39 states after acquiring Wachovia last year; JPMorgan Chase (JPM) has about 5,100 U.S. branches, after closing 390 former Washington Mutual branches.
The pullback comes as Bank of America continues with its integrations of Merrill Lynch and Countrywide Financial.
http://articles.moneycentral.msn.com/Inves...;_blg=1,1206456
QUOTE (canball75 @ 6-24-09, 4:58pm) 
I had a Citicard cc that was recently trans'd to BOA. I recently paid off the $5,000 balance and was thinking of trans'ing a high APR cc to this one. I went on today to complete the transaction and noticed that BOA lowered my credit limit on the card from $6,100 to $500. Wow, that was nice of them.
They lowered mine in half down to 9k. Still usable and not like I really need that much, but has a major impact on my total credit and therefore credit score. Not nice for someone that has been with them for a long time. They have also screwed up and added in finance charges that they should not have on more than one occasion. They did always fix it in the end.
Deposited a check with the envelope-less deposit feature at an ATM yesterday morning - it "ate" my check and spit out a receipt saying sorry 
Took 20 minutes on the phone to resolve
Took 20 minutes on the phone to resolve
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