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Home > Bank of America starts charging Maintenance Fee... See ya!

Bank of America starts charging Maintenance Fee... See ya!

April 14th, 2007 at 10:24 am

A few month ago, I http://lau.savingadvice.com/2006/12/12/opened-a-bank-of-amer.... I had also seen an article mentioning that BoA would start charging fees on their "free" checking account. Well people, that moment is here.

I deposited $40, got $100 in referral and bonus. When I checked it this morning, instead of seeing my regular $140, I see $134.05. They took $5.95 for Account Maintenance Fee. This is the most ridiculous thing. Needless to say that this account will be closed first thing on Monday.

18 Responses to “Bank of America starts charging Maintenance Fee... See ya!”

  1. Ima saver Says:

    Good for you!

  2. PauletteGoddard Says:

    Awesome, blossom! Good for you for taking the money and running!

  3. ladymiller Says:

    I too opened an account with Bank of America to get a $250.00 bonus. I did get it. After reading your post I checked my account..so far I have not been charged a maintainance fee. Since I don't think I will wait around to see if I do get charges the fee, I checked out how to close my accounts. After much looking here is what I found.

    How do I close my account?
    We are sorry to hear that you want to close your account. We are constantly looking for ways to make banking work for you in ways it never has before and would like to know how we can make this happen for you. Please call us at 1.800.622.8731 or send us an e-mail if we can assist you in any way.

    To close your account, please submit your request in writing to Account Closure, FL1-300-02-07, 4109 Gandy Blvd Tampa Fl 33611-3401. Be sure to have all account owners sign the letter and tell us how you would like to receive your balance.

    This info was found here http://www.bankofamerica.com/deposits/checksave/index.cfm?template=lc_faq_acct_info#question7

  4. jodi_m Says:

    When I opened my account, they told me I would be charged a fee unless I signed up for direct deposit, which I did. After a year and a half, I did get charged my first account maintenance fee on my savings account ($3). I stopped into the branch to ask why and they told me it was because my balance had fallen below $300. They may or may not have told me this when I opened the account - to be honest, they probably did and I forgot. Anyway, they took the fee off without me even asking. Now that I know the terms, I shouldn't have any other fees. I have been quite happy with BOA, despite hearing a lot of complaints from others. They explained all the fees associated with the various accounts when I opened my accounts with them. Nevertheless, I will start checking my accounts too in case something had changed. I wouldn't think they could start charging a fee on a previously free account without giving some type of notice, but I guess you never know.

  5. veronak Says:

    I do not blame you, they are making money off of your money and charging you to keep it there, no way jose.

  6. Lau Says:

    Just to be clear, the account I opened is a "MyAccess Checking". When I opened it, it was labeled as "free" checking.

    I found a http://www.bankofamerica.com/accessiblebanking/pdf/21-11-350... (Note: this applies for MA), and the maintenance fee will not be charged if I have a direct deposit. I don't get the logic behind that, but anyway. I have only one paycheck coming in and it is already being deposited in another account in another bank.

  7. asmom Says:

    Lau, if you opened the same account I did with BOA they are not supposed to charge you ANY fees. Was it the MyAccess checking for which you get $100 after 50 days? I would call up customer service and get them to reverse the charges because the exact same thing happened to me. At first, they pretended they didn't know what I was talking about and that I was required to have direct deposit or they would start charging me maintenance fees after two months. That was NOT the deal. They did have a promotion like that but that is not the one I signed up for. I would have never chosen an account for which I was expected to be charged maintenance fees under any circumstances. I made them research it, and they did restore my money and then of course I closed the account because I hate BOA.

  8. Bad Experience Says:

    Bank Of America charged me $6 for an official/certified check where as other banks charged just $2.

    I just started closing all my accounts with BOA and decided to give business to other banks who are really serving common people with their needs.

  9. Louis Lufriu Says:

    I am sorry but I will not sit silently and let one of the largest financial institutions in the world do what they want with my hard earned money . BOA I am sorry that you lost 34 billion dollars but you can not expect your customers to pay that back . I thought you all got a huge bailout or did that money go to your CEO Ken Lewis like with most of the comapnies that got a bailout ?I was disgusted to find that they also took money from my savings account that is just a low blow with the economy in a unyielding free fall . I wanted to let everyone know that as of tomorrow I will be closing my account and going to a credit Union , I need to know that I can count on my Bank when I need them .

  10. Carlos Says:

    BofA sucks so hardcore, I closed my account today because they couldnt figure how to change my billing address without it being reset every month. They are so incompentant, I hope Bank of America goes out of buisness and every employee is laid off.

  11. jld Says:

    I have been a long standing customer with BOA but when they screwed me on my refinancing with hired idiots & their inbred relatives running the show at Country Wide, I realized I had to do something quickly. I pulled most of my checking & opened an account in a credit union - where 'we the people' are in charge instead of liars & cheats. But I checked what little I left in my BOA checking account, to my dismay, I see I am charged a checking maintenance fee on my "free" checking account. I called to rectify this odd issue & was told this $20 fee will be charged every month to protect my account & maintain it. I was slightly livid & insisted that this charge be removed. I was told it will be removed but for only 1 year. Why do the filthy, disgusting, mighty, rich think they should screw the regular people who work their butts off to make them rich????

  12. ThatGirl Says:

    I just was looking at my statement online and I see "monthly maintenance fee" WHAT? Are they kidding me?
    I have been with them for probably 20yrs if not more! If they dont take it off and if this will really be a monthly fee, bye bye BofA!!

  13. Carol Says:

    I closed my account today too. I can not stand the dirty thief to keep stealing my money!! They just took my money away and didn't say anything about. I called them twice to ask for the refund but all the answers they gave me were just useless!!

  14. Jim Says:

    I live overseas and rarely ever use my BOA account or debit card...maybe once a year. I just check my balance for the first time since May 2009 and BOA had been taking (more like stealing) $20 a month out of my account since July 2009! I had to send off a letter to florida to close this account. Im not going tolerate their sneaky and underhanded tactics. I was a loyal customer of BOA for almost 20 years and was treated good until this year. I will never do business with this bank again. Thanks for screwing me over BOA....but you are NOT going to screw me out my money again!

  15. Tyagi Says:

    BOA is a really cheater. They charged me continuously $6/month around a year when i returned back to my home country for a year and didn't close my account as i was having a plan to return back here and work here as i was having my job here. Finally I closed my account with BOA and now not planning anymore to open any account in BOA in future.

  16. Rcronc Says:

    Yes it looks like most banks are charging this outrageous fee. It is time a revolt happens against these practices. When I was young I did work for a bank. Back then the idea was to teach people how to save and give them interest that helped to build thier savings. These days the banks only want money for themselves.This profit motive of this day needs to regulated especially on these greedy banks.

  17. Travis Says:

    I hate B of A.. they charged me a bunch of fees that I knew nothing about.. All I gotta say is I hate b of a.. they suck donkey dik

  18. Jon Says:

    Don't worry about maintenance fees if you are relatively rich.
    Bank of America only charges fees to the poorest among us, those whose deposits fall below $1500 for a regular checking account.
    When it does they charge you $14.
    That's 1% of your balance if it drops to $1400,
    and 10% of your balance if it drops to $140.
    So the less you have, the bigger share of it they take from you, ensuring that your account dwindles without you spending any of it.
    That's how the bastards among the rich get richer as they cause the poor to get poorer.
    I don't know what the logic is of having $1500 in a checking account if you can't use it.

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