- Report: #714450
Complaint Review: Bank Of America - Simi Valley California
Reported By:
VICTIM -
Orlando, Florida, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Bank Of America
PO BOX 5170 Simi Valley, 93062 California, United States of America
Phone:
Web:
https://www.bankofamerica.com/contactus/contactus.go?
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Bank Of America Bank of the Loan Sharks Bank of America finds another way to take your Money. Simi Valley, California
*Consumer Comment: Encore presentation of- LAND OF THE FEE SONG
*Consumer Comment: So?
*Consumer Suggestion: BOA- AT LEAST 2072 REPORTS FOUND!
*Consumer Comment: USA IS ONE BIG LIE SONG
*Consumer Comment: COLLAPSE OF THE U.S. ECONOMY POEM
*Consumer Comment: END OF THE WORLD POEM
*Consumer Comment: PROTESTER SONG 8.........
*Consumer Comment: VICTIM,
Report Attachments
B of A redefines grace period with new fee Posted: Wednesday, January 19 2011When is a grace period not really a grace period? When you have to pay a $6 fee for using it.
Some Bank of America mortgage customers received an unwelcome Valentine's Day gift when the bank's policy for grace period mortgage payments changes on Feb. 14.Customers now have six fewer days to pay their mortgage each month without facing additional fees. They r going to have a party with this One.!!!
Consumers who use the bank's online payment tool, Mortgage Pay, will risk a $6 fee if they fund payments using another bank's checking account and the payment falls during the final six days of the traditional 15-day grace period. Consumers who make payments from Bank of America accounts are not subject to the fee.
"Now you go figure!????. They tell you that you have a grace period, (then) they say, 'Oops, you only have half of it if you dont bank with us,' a lawyer for Consumers Union who specializes in banking issues has stated . "That doesn't seem fair. ... This looks like a new gotcha, and we have enough of those already."
Notice of the subtle adjustment, titled "Upcoming Change to Fees," was sent to customers recently.
If your payment is due on the first of the month and you have a 15-day grace period, you can schedule your payment to be drafted prior to and including the ninth of that same month to avoid a service fee, it reads. If you schedule your payment to be drafted on or between the 10th and 16th of the month, you will be charged a $6 service fee that will be included in your total deducted amount.
"They intend to penalize non-checking customers if they possibly can," complained homeowner s who has been paying mortgage using another bank's checking account. Bank of America (which responded after initial publication of this story) said the firm has in the past assessed grace period late charges ranging from $3-$6, and the notices went to consumers to clarify a new policy that raises fees on some customers but eliminates them on others.
The move comes as banks continue to crank up new fee opportunities in reaction to regulatory changes that have cost them billions in overdraft fee revenue. In early January, for example, Bank of America announced a new four-tiered fee structure for checking accounts with fees ranging from $6 to $25 per month.
Some consumers who are being hit with the change didn't apply for a mortgage with Bank of America. Instead, the bank inherited their mortgage later by acquiring it as part of an investment portfolio purchase.
My Mortgage Co. was CountryWide which in turn taken over by Bank of America. "Do u know you cannot schedule recurring payments (at Bank of Americas Web site) unless you have a Bank of America checking account,". Consumers Union lawyer, said the changes are steering customers toward opening Bank of America accounts at a time when the bank is adding fees to those accounts, creating a damned-if-you-do, damned-if-you-don't situation for consumers.
"If you are offering good service, you should not have to force consumers to come to you. That's not a good sign,". Most mortgages include a grace period of 10 to 15 days meaning payments made during those times do not incur late fees. Many consumers pay at the end of the grace period in an attempt to hold onto their money as long as possible. What Bank of America does in turn puts late payments and fees. When homeowners hold simple interest mortgages, paying during thegrace period incurs additional interest charges.
"You don't want to have to go around changing your checking account every time someone buys your mortgage," "This is just one more way Bank of America has managed to extract money out of you that you don't expect to have to pay." WAKE UP !!!!!
Some Bank of America mortgage customers received an unwelcome Valentine's Day gift when the bank's policy for grace period mortgage payments changes on Feb. 14.Customers now have six fewer days to pay their mortgage each month without facing additional fees. They r going to have a party with this One.!!!
Consumers who use the bank's online payment tool, Mortgage Pay, will risk a $6 fee if they fund payments using another bank's checking account and the payment falls during the final six days of the traditional 15-day grace period. Consumers who make payments from Bank of America accounts are not subject to the fee.
"Now you go figure!????. They tell you that you have a grace period, (then) they say, 'Oops, you only have half of it if you dont bank with us,' a lawyer for Consumers Union who specializes in banking issues has stated . "That doesn't seem fair. ... This looks like a new gotcha, and we have enough of those already."
Notice of the subtle adjustment, titled "Upcoming Change to Fees," was sent to customers recently.
If your payment is due on the first of the month and you have a 15-day grace period, you can schedule your payment to be drafted prior to and including the ninth of that same month to avoid a service fee, it reads. If you schedule your payment to be drafted on or between the 10th and 16th of the month, you will be charged a $6 service fee that will be included in your total deducted amount.
"They intend to penalize non-checking customers if they possibly can," complained homeowner s who has been paying mortgage using another bank's checking account. Bank of America (which responded after initial publication of this story) said the firm has in the past assessed grace period late charges ranging from $3-$6, and the notices went to consumers to clarify a new policy that raises fees on some customers but eliminates them on others.
The move comes as banks continue to crank up new fee opportunities in reaction to regulatory changes that have cost them billions in overdraft fee revenue. In early January, for example, Bank of America announced a new four-tiered fee structure for checking accounts with fees ranging from $6 to $25 per month.
Some consumers who are being hit with the change didn't apply for a mortgage with Bank of America. Instead, the bank inherited their mortgage later by acquiring it as part of an investment portfolio purchase.
My Mortgage Co. was CountryWide which in turn taken over by Bank of America. "Do u know you cannot schedule recurring payments (at Bank of Americas Web site) unless you have a Bank of America checking account,". Consumers Union lawyer, said the changes are steering customers toward opening Bank of America accounts at a time when the bank is adding fees to those accounts, creating a damned-if-you-do, damned-if-you-don't situation for consumers.
"If you are offering good service, you should not have to force consumers to come to you. That's not a good sign,". Most mortgages include a grace period of 10 to 15 days meaning payments made during those times do not incur late fees. Many consumers pay at the end of the grace period in an attempt to hold onto their money as long as possible. What Bank of America does in turn puts late payments and fees. When homeowners hold simple interest mortgages, paying during thegrace period incurs additional interest charges.
"You don't want to have to go around changing your checking account every time someone buys your mortgage," "This is just one more way Bank of America has managed to extract money out of you that you don't expect to have to pay." WAKE UP !!!!!
8 Updates & Rebuttals
Karl
Highlands Ranch,Colorado,
USA
VICTIM,
#2Consumer Comment
Sun, December 16, 2012
Feel free to give us an update to your Ripoff Report when you have time, okay?
Happy Holidays!
Karl
Highlands Ranch,Colorado,
USA
PROTESTER SONG 8.........
#3Consumer Comment
Tue, November 29, 2011
has been composed and will be submitted at this website soon.
Just type in 481508 at this site to see if it is available in the consumer comments section at Ripoff Report #481508.
Thank You
POWER TO THE PEOPLE
Karl
Highlands Ranch,Colorado,
USA
END OF THE WORLD POEM
#4Consumer Comment
Sun, May 22, 2011
END OF THE WORLD POEM
The world didn't end
But it sure is a mess
Three wars keep on going
Go tell Ernie and Bess
The world didn't end
Lotsa new stuff just started
IMF chief arrested
Don't think seas ever parted
The world didn't end
Oil shot up- then went down
Big-shots smiled for a while
Now those smiles turn to frown
The world didn't end
Many gave him their cash
Just another big scheme
Then a stock market crash
Guess this poem is over
The world didn't end
No more money- no house
Even lost their best friend.
End.
Anyone can 'Google' this- THE COMING CRISIS: HAROLD CAMPING THE FALSE "PROFIT" IN HIDING, and read the related articles on the web.
CORRECTION ALERT: In 'Consumer Comment #5' at this Ripoff Report, it should say that the Dow Jones lost 777 points on September 29, 2008.
Anyone can read the prediction that was made on August 26, 2007, at this website. Just type in 266476 and go to 'Consumer Comment #6' at Ripoff Report #266476. (The prediction starts paragraph #4.) It is a fact that the prediction made in that consumer comment came true a little over a year later. On September 29, 2008, the Dow Jones lost a record 777 points and the U.S. banking system melted down.
Make sure to 'Google' this- FRONTLINE: INSIDE THE MELTDOWN, and watch it on the web for proof.
Thank You
"Knowledge is power."
POWER TO THE PEOPLE
Karl
Highlands Ranch,Colorado,
USA
COLLAPSE OF THE U.S. ECONOMY POEM
#5Consumer Comment
Thu, May 19, 2011
COLLAPSE OF THE U.S. ECONOMY POEM
The Collapse of the U.S. economy
Was predicted right here on the web
Tell Marsha and Cindy and Peter
Text Billy and Tanya and Deb
Just type in six numbers to read it
It's really quite simple to do
Call Becky and Sally and Johnny
Skype Arthur and Wendy and Sue
I guess that this poem is over
He was right but he hoped he was wrong
Lots of info is here on the web
Coming soon another IMF song.
End.
Anyone can stay at this website and type in 271454 and go to 'Consumer Comment #1' at Ripoff Report #271454 and read where the collapse of the U.S. economy was accurately predicted on September 3, 2007.
FACT: One year later the U.S. economy collapsed and the stock market lost a record 777 points in one full day of trading. On September 29, 2007, the Dow Jones lost 777 points and the banking system in the USA 'melted down' and needed hundreds of billions of dollars in taxpayer's money (TARP) in order to prevent another depression in the USA.
Simply 'Google' this- FRONTLINE: INSIDE THE MELTDOWN, and watch it on the web for proof that the U.S. economy collapsed in September of 2008.
Thank You
"Knowledge is power."
POWER TO THE PEOPLE
Karl
Highlands Ranch,Colorado,
USA
USA IS ONE BIG LIE SONG
#6Consumer Comment
Wed, April 06, 2011
USA IS ONE BIG LIE
(Please sing to the tune of- "Mary Had A Little Lamb")
Anyone can go to Bing and type in- MIDI TUNES FOR KIDS!, and click on 'Mary Had A Little Lamb' and sing the following lyrics to that tune, right?
Here we go- 1, 2, 3, 4....
USA is one big lie
One big lie
One big lie
USA is one big lie
It's one big giant scam!
USA believes in war
War's a lie
War's a lie
USA believes in war
This country is a lie!
End.
Anyone can 'Google' the following and watch them on the web-
FRONTLINE: OBAMA'S WAR
FRONTLINE: THE WOUNDED PLATOON
FRONTLINE: BUSH'S WAR
COLLATERAL MURDER
THE ASCENT OF MONEY PBS (Watch the episode entitled- 'Bonds of War'.)
"Knowledge is power."
POWER TO THE PEOPLE
mr. rik
miami,Florida,
USA
BOA- AT LEAST 2072 REPORTS FOUND!
#7Consumer Suggestion
Wed, April 06, 2011
A quick search yields at least 2072. Thats Two THOUSAND-seventy two Baby!
Robert
Irvine,California,
U.S.A.
So?
#8Consumer Comment
Wed, April 06, 2011
Aren't Mortgage payments due on the 1st?
This fee isn't assessed until after the 9th and that is ONLY if you go to the Bank of America site an use another bank's account to make the payment.
There are many ways to avoid this fee.
- Use a Bank of America Account(which of course is what they would prefer)
But you have other options...
- Pay your Mortgage before the 10th
- Don't use their on-line payment system, use your own bank's on-line system.
- Mail your payment in using a Check(yes they do still exist)
Karl
Highlands Ranch,Colorado,
USA
Encore presentation of- LAND OF THE FEE SONG
#9Consumer Comment
Wed, April 06, 2011
LAND OF THE FEE
(Please sing to the tune of- "Can't Buy Me Love")
Anyone can 'Google' this- FREE THE BEATLES MIDI FILES, and click on "Can't Buy Me Love" and sing the following lyrics to that tune, correct?
Here we go- 1, 2, 3...
Land of the fee,
Fee, land of the fee.
I'll buy you some lobster tail, my dear
If you're sad and feeling blue.
I'll pay that overdraft my dear
If you don't know what to do.
'Cause I'm a banker who is loaded
TARP money is what I got!
We'll fly away to Netherlands,
If you'll marry me next year.
We'll walk down that aisle hand-in-hand,
I'm a man and I ain't q***r.
'Cause I'm a big-shot who is loaded
TARP money is what I got!
It's what I got,
From my head down to my toe.
It's what I got,
h*o, h*o, h*o, h*o!
Don't think that I need no viagra
Let me take you for a ride.
Jump into my brand new Ferrari,
Hold on tight please do not cry.
'Cause I'm a banker who is loaded,
TARP money is what I got.................
(Keep singing and dancing!)
"LAND OF THE FEE SONG" was originally posted in the consumer comments section at Ripoff Report #271454. Anyone can type in 271454 at this site and find it there, along with "LAND OF THE FEE POEM".
Thank You
