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Bank Of America Is Unethical

By Scott Straley
Tuesday, April 29, 2008

Go ahead. Sue me, Bank of America. You're unethical. However, I'm certain there is a bank criticism fee I'm going to have to pay.

In November the automatic bill pay for my Bank of America Credit Card screwed up. So, after working things out with the bank, I asked the agent, when should I make my payments each month. She replied, "Your statement closing date is the 15th." So, I said, "I should make the payments on the 15th?" She agreed.

I did.

In March, the 15th fell on a Saturday. So, Bank of America (my bank account) made the payment to my Bank of America Mastercard on the 14th. Which, in turn the Bank of America Mastercard applied to my February bill and not my March bill, as it was intended. So, according to my statement, I made two payments in February, and none in March.

This triggered a series of penalties. My interest rate went from the 2.9% teaser rate to 26.9%. I owed a penalty. My minimum payment jumped from $200 to $700.

So, of course, I called them and eventually went into the branch at Sierra Way in San Bernardino. They admitted it was a "bank error", according to Adriana Lopez, one of their Customer Care Associates. But, said I still needed to pay the back interest-induced penalties, but — as a courtesy — they'll wave the $39 late fee.

LATE FEE! I paid the bill a DAY EARLY.

No one at the bank is capable of doing anything about this. They all point fingers at other departments.

So, that's the end of the road. Over the next month, I'll transfer my personal accounts to another financial institution — or even an off-shore account. And, we'll be doing the same with the RIMOFTHEWORLD.net accounts.

Not that it will matter. They don't care. They are a cauldron of pure evil and lack any ethics.

Follow Up: I emailed this article to Diane Wagner (diane.wagner@bankofamerica.com) the Media Relations Contact for Bank of America Consumer Banking. We'll see if she responds.

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Scott Straley is the founder of RIMOFTHEWORLD.net. As part of the RIMOFTHEWORLD.net team, he is dedicated to keeping our community informed and engaged.

The views expressed in this article do not necessarily reflect those of RIMOFTHEWORLD.net. This column is copyrighted by Scott Straley.