another for Bank of America customers

JaniceM

JaniceM

Well-known Member
Location
still lost between two shores..
I just received an email, appears to be legitimate, informing me that as of next January the 'free' checking accounts have catches: if you don't make 'at least one qualifying direct deposit of at least $250,' or keep a minimum daily balance of $1500, or be in their Preferred Rewards program with one of the higher tier levels, there will be a $12 monthly fee. :mad:
Thought I'd pass this info on in case other customers didn't receive the emails.

I am now looking for a new bank.
 

We are small town (pop. 5,000) and our B of A decided to close up shop two months ago. They did say that the ATMs would remain,however. Last I heard,the ATMs haven`t worked in over two weeks. People are pretty ticked off. I don`t use B of A so not affected but yeah,I would be ticked off too.
 
I don't think that is an legit email. I have a couple of accounts there and have not received any emails about it. Before I got upset about it, I would call or visit my local branch. I called the 800 # last week and had a very nice man help me with a change I wanted to make to one of my accounts. I also get messages when I log on to my accounts online so check there and see if you have any messages. I would not trust the email until I verified with my account rep.
 

terry123 said:
I don't think that is an legit email. I have a couple of accounts there and have not received any emails about it. Before I got upset about it, I would call or visit my local branch. I called the 800 # last week and had a very nice man help me with a change I wanted to make to one of my accounts. I also get messages when I log on to my accounts online so check there and see if you have any messages. I would not trust the email until I verified with my account rep.
Click to expand...

I just went over to my account, and the same info popped up there. "eBanking checking accounts will change to Bank of America Core Checking" as of Jan. 19, 2018.
 
I would be suspicious. Did it come to an email you have registered with your account? When my bank makes any changes to our banking experience, we are always notified by snail mail only. I would check with your bank directly.
 
i would never ever keep less than 1500 in a checking account locally so i never run in to problems like this . we use local banks for emergencies as well as the perks they give us . when our main brokerage account had to be temporary closed because of an attempted hack our local bank carried us through .
 
As much as I dislike BofA the direct deposit or balance requirement would not be hard to meet for most seniors.

A monthly SS check would easily meet the direct deposit requirement.

I got a notice from BofA a couple of months back that they were closing the line of credit tied to my checking account and apparently they have. I have not used the LOC in the 25 years that I've had it so no big loss but it did surprise me that they were closing it.
 
i closed my account at vanguard and let chase baby sit the etf i had at vanguard at no charge . we got a chase private client account for doing it and no minimums or fees on any accounts . we also got a whole lot of perks too .
 
It said ebanking accounts. I don't know what those are but I know mine are not "ebanking" accounts. Would check and see why yours are ebanking accounts!
 
I did not set my accounts up online but went into the bank and opened them. I just checked mine online and there are no messages. My direct deposit is made to my account from SS each month and I have a BOA credit card that I pay online. I do have a few little checks I receive that I deposit via the drive through each month. If I were you I would go into my Bank and talk with my customer rep that handles my account. The day I have a service charge is the day I change banks. I have a checking and a savings account with them along with 2 cash rewards credit cards.
 
I thought that is the way it has been for a long time... there was a monthly fee if you didn't keep a certain amount, etc. And there are various levels where the higher amounts have free "check cancelling", money orders, etc.
 
it can be costly to maintain small accounts for banks . credit unions are likely better choices . they have much lower costs of doing business than banks do . credit unions have the advantage of being classified as non profit and they pay no tax on their earnings unlike banks .
 

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