Shady BLEEPING Bank of America

[sterlingice]

I was a vendor onsite at a fairly substantial BofA location a couple of years ago and watched as Merrill pretty quickly started devouring the Bank from the inside. Not sure how that ever played out as we ended up losing our contract mostly due to Merrill's IT taking over the Bank's but it did remind me of this little nugget:

The Daily Show with Jon Stewart
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"Is there no greater metaphor for the disfunction of our economy than a $35K toilet you cannot take a shit in?"

SI

[Kodos]

I think bankers are trying to surpass lawyers as the most reviled professionals on the planet.

[Ksyrup]

Originally Posted by Flasch186

For me, its more about unwinding from their autobill pay. Thats tough stuff there. I dont get paper statements from almost anyone anymore...

ugh Paypal tie in, etc.

Bingo. We moved from Florida over 5 years ago to a state where BoA doesn't have a presence, but I still have my BoA account and it's the main one I pay bills through and have my paycheck deposited into. We have a local bank account solely for writing local checks and cash.

I didn't move it 5 years ago because of all the work I had done to create the autopay bill stuff. At the time, BoA's service was better than any around here, in that all you had to do was tell them what day your bill was due, and they'd make sure it got paid. The other sites required you to make sure you set a payment date early enough that it got paid by the due date. Maybe 5 years later, the other services have caught up, I don't know. But I can't imagine having to start over with that entire process and not have one or more of my bills not get paid in the transition.

That, and I've essentially got a 12-month interest-free $30K revolving line of credit through BoA that has come in handy at times.

[RainMaker]

It wasn't that hard for me. I just went through all the bill pays and transferred them to the new account. Kept the old one open for a couple months to make sure nothing else went through, pulled out the remaining balance, and sent in my letter stating to close the account.

I just can't support those companies anymore. I don't care what kind of inconvenience it brings.

[Ksyrup]

Does it auto-figure when to make the payment for you based on the due date, or do you have to do it yourself? That's a huge thing for me. I just want to tell it the bill is due on the 18th, not have to figure out that I need to start the process on the 14th to make sure it's paid, plus have the money deducted several days earlier. That's basically how it works with the local bank I currently have.

[RainMaker]

Originally Posted by Ksyrup

Does it auto-figure when to make the payment for you based on the due date, or do you have to do it yourself? That's a huge thing for me. I just want to tell it the bill is due on the 18th, not have to figure out that I need to start the process on the 14th to make sure it's paid, plus have the money deducted several days earlier. That's basically how it works with the local bank I currently have.

Schwab does. For instance I help my Mom with her insurance every month. So I set to pay her on the 1st and it mails out a check on like the 26th. I think most are like that.

The concept of an online checking account seemed so odd but it's really easy. I barely used my bank anyway and the fact ATM fees are refunded, there is no point.