Bank of America Advantage Savings | Why I Closed My Account

Update:
I have had my Bank of America Advantage Savings Account for over 10 years now. I love Bank of America and I really don't have many reasons to complain but I believe major banks, in general, need to start focusing more on customers' needs. The lack of knowledge and the inability of so many people to try something new is why the major banks like Bank of America are still in business.

Currently, the interest rate offered by Bank of America Advantage Savings Account is 0.01%. I understand interest rates are low in general but the same bank charges between 13.99% - 23.99% in interest on a credit card. Customers are the lifeline of any business. If customers are then constantly bombarded with fees and other charges, these customers will take their business away.
#bankofamerica #savings
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[garrettklinck]

Thank you for giving me clarity on this!

[STARWARSAGA]

i transferd my money to capital one very best dicision i ever made in my life

[Jgouge]

Stephen, great video and thank you for taking the time to describe your experience as it compares to many young people in this country. After banking with BoA for 15 years I have decided to close my savings account and find something more beneficial for my needs. Your video helped me reach that decision more comfortably. Appreciate you sir.

[personal-hschapter]

Thank you so much! I am headed to college soon and I was looking to open a Bank of America account because its quick and convenient to my school, but considering the information you gave I will 100% NOT be opening a savings account. $500 minimum?!?!?! That is outrageous.

[eadad]

No doubts, A good way of growing and saving your money is through investing . You don't need to have much before you can invest. "That little money you have now can make you millions if you invest it wisely". I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made

[TR-vhfi]

Did closing your account hurt your credit score? I can't get clear info online

[rp]

I feel like an old lady I wrote to BOA about this. But most of my emergency fund is with a high yield online bank.

[TheAwkBlkGirl]

I’m scared now. I don’t know who to go with 😭

[isabelfigueroa]

I opened an ally savings... will they send a credit card?

[Goldie-kwju]

Why you close your Bank of America to save an account maybe you tired of getting robbed

[sagesixparties]

Bank of America closed my account because someone stole my personal info and customer service said I'm blacklisted.
Anyway to be reinstated ?

[Skaito]

I’m watching this as I’m in the process of leaving Bank of America. The interest on their savings account is absolute trash in my opinion. 0.01%!? Really!?

[ibear]

I have the saving account. There no point taking fee of my saving when they got my checking.

[rizs]

My interest rate 0.06 😂. Help me how can I rise it?

[supremeali]

So after you left Bank of America, what bank did you choose?

[mr.touchnoheat]

Can you make a video of what bank you changed to and why?

[evangeliamintzai]

An overdraft is a sort of a loan and the banks make lots of money from it by charging you a high fee or higher than normal consumer loan interest rate. The best thing to do at ANY bank is to stop this option. If you don't have money then you don't buy something or you use a credit card. Some banks won't be happy to stop your overdraft option but you are allowed to ask them to stop it.

[eddiev]

Bank of America has shit load of fees for everything lol

[joejoejohnson]

The Bank Sucks.. I could not get a payoff..on a loan..After hours on phone I flipped put of Rep.They called police ..Your reaching out to alot of people. Start a run on this bank page.Everyone quit this bank. It sucks.

[cashonly]

Alot of banks today require a substantial start amount. If you don't have a certain amount you will get charged a monthly fee.
I have been with Bank of America since I was broke, some 30 plus years ago. They have certainly changed through the years, but there is no way in hell I would go to any other crook at this point. Yes the less amount you have in your account, most all bank will limit how many times you can use the ATM without being charged a fee.
A young broke college student should go to a credit union.