My Monthly Internet Banking Gripe

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

My Monthly Internet Banking Gripe . . . - Timeshare Users Group Online Community Forums

Things appeared to be going good.

They admitted they took the $4900 from the wrong CD, the one earning a higher interest, and they admitted they renew the other CD, against my instructions to redeem it, and at a substantially lower interest rate than it had been getting, or that I could get elsewhere.

They computed what they owed me:

"I calculated an interest adjustment for the timeframe of 04/12/2008 through 06/09/2008 figuring the difference between the rates of 2.28%. The interest adjustment would be $124.97."

Then they said they ran it passed their manager, who said they don't owe me anything, and closed out one of the CD when I told them not to.

Since they have behaved the way they have, it's Bank of America.

[jericap Super Moderator Find all posts View Profile Close jericap]

LL Bean just discontinued their relationaship with Bank of America...Coincidence? maybe not!
You have to reapply with the new carrier for a new card by 6-30-08 for the LLBean benefits.

[idahodude Senior Member Find all posts View Profile Close idahodude]

I have been less than impressed with BOA lately too. I had an ARM, which was going to adjust up several months ago. BOA was servicing that mortgage, so I called to see if they'd do an "easy" refinance, which they wouldn't. They then set me up to do a regular refinance, but their "Best Rate" ended up being nearly a full 2% over what I could find elsewhere. Needless to say, I'm no longer a BOA customer and very happy about it.

[skierbri10 Junior Member Find all posts View Profile Close skierbri10]

It's all about USAA for me....best bank ever....

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Our AG's office had told me to file a complaint if I did not get this resolved. Since Customer Service has stopped answering my messages, I just did.

[funtime2 Senior Member Find all posts View Profile Close funtime2]

Our AG's office had told me to file a complaint if I did not get this resolved. Since Customer Service has stopped answering my messages, I just did.

Good for you..... can't wait to see how they handle this!

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Last night Letterman was talking about the recent biggie bank failure, in introducing the Top 10 (How You Know You Have a Bad Bank).

He said they said there will be 100 bank failures in the coming year.

I would think BOA may be a candidate, having bought up a number of other major banks.

But, what do I know?

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

The AG has opened a complaint, asking me for the details, which I am sending today.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

It's Not Just Internet Banking

There can be similar problems with your traditional local bank . . .

A couple weeks ago I got notices that four of our IRA CDs were maturing 9/24. When I went to look at our portfolio in my word processor, probably around 9/18, I saw that two IRA CDs had matured 9/14, that we had not received notices for, and that had renewed at 2% lower than the previous ones.

At that point, there was little hope of doing something about them . . . opening new ones elsewhere, getting the apps completed and getting the funds transfer in the ten-day grace period.

I researched the problem on the Internet and found that it is common when transferring IRA CDs. The 10-day grace period is not quite enough to accomodate application, account approval and transfer to a new institution.

Five phone calls and two emails to our local bank did not solve the problem. They refused my request to hold the funds in cash. They would either renew them or redeem them, which would be reported as a distribution, rather than a trustee-to-trustee transfer.

So, we had a face-to-face during which we compromised to leave the CDs there for a few tenths of a percentage point higher than their renewal rate.

We pointed out that we like banking there, and the people there, but when they cut our earnings 2 percentage points they did not cut theirs (on a loan) from the times of higher interest rates.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Today I received a check, and a letter saying:

Re: Missouri Attorney General Complaint No. (&%&((^

On behalf of )$&$ (* #@*%$#!, we want to thank you for your formal inquiry . . . bah, blah, blah. In reference to the complaint we have made an interest adjustment of $131.31 as of today, November 28, 2008 . . . The $131.31 has been sent to the above address in the form of a check.

Blah, apologies, blah, blah. Feel free to contact us, blah, blah.

Sincerely,

)*^))(&&
Client Escalation Department


Ooh! I have been escalated.

Good for you..... can't wait to see how they handle this!

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

I've been on a lot of those.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I know what you mean.

In response to a recent inquiry to RCI, they answered with a first line saying, "I see a string of 56 emails from you . . . ", so they have escalated me, too.

In my reply to their reply, I said, "You must not have kept very good records, because there are many more than that, not to mention all the letters to Kenneth May, and others."

I sensed that she and I had a moment . . . and then she took care of what I needed taking care of, and apologized that the last person had not.

I've been on a lot of those.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I just got the maturity notice on the 8-month CD, the opening of which started all of this.

So that's how long this took.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

That IRA CD matured yesterday, so the 7-Day grace period is now running.

I have set up aother qualifying IRA account with another trustee, so I called BOA with instructions. I had both a mailing address or electronic transfer info, so all BOA had to do is transfer the funds.

Of course, my calls to them, five now this morning, have not gone well, as they refuse to follow my instructions, each person giving me an additional set of instructions. They also refuse to call the new institution at a toll free number, to confirm my instructions via a security code.

I am awaiting stuff in the mail so I can run around to take care of this.

I've been at it the last two hours, and am done for today.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Took forms to the local BOA. Almost got it done, but ran into another hitch. Called BOA IRA Department blah blah blah and she gave instructions to local bank employee.

That IRA no longer shows online, so something got done.