Bank of America - Why They're Hated

Attempting to explain why Bank of America is one of the most hated companies out there.

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Company Declines:
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[jeant]

**account at $2.13**

BoA: oh you’re below the minimum requirement on your account, so you’ll now incur a $35 fee. Oh you’re now negative on your account because of our fee? You’ll now incur a $35 overdraft fee. But thanks for choosing Bank of America :)

[KrissKross]

Awkward moment when you’re watching this from a break room at Bank of America 👀💀

[knottheory]

I appreciate when Company Man makes these "Why They're Hated" videos, he doesn't oversell it or exaggerate he just reports information without piling on to it.

[AnnaOllsson]

Since Biden took office, there seem to have been more unfavorable results in America. I am really worried about the current bank crisis/interest rates, these are all the signs of yet another 2008 market crash 2.0, so my question is do I still save in the United States dollar or is this a good time to buy gold?

[xelefonte]

I told Wells Fargo I was leaving them for their terrible customer service and charging me bogus fees for 10 years, that I was going to Bank of America. They laughed. I didn’t realize that BoA was even worse.

[Qardo]

I remember a few years ago. Bank of America tried to foreclose a home they did not own. The owners sued the bank and won. That bank later closed in that town. lol

[BennyLlama]

BoA sucks. After them I started banking local. I highly recommend smaller local or regional banks. You get better customer service and better policies

[keionadams]

My dad worked at BoA for 15 years, he was approaching the amount of years needed for a pension so one day they just said he stole money from them and fired him so they wouldn't have to pay out the pension, we were a middle class family, my dad had no reason to steal. He's worked for Apple ever since and loves it

[bigrico]

I was going to make a joke about Bank of America, but I lost interest!

[TomMcMorrow]

As someone who got his education in finance, I can tell you from the inside BoA was not allowed at our job fairs. JPMorgan? Sure. Goldman Sachs? Welcome! But BoA was known for not being good to our grads so they were blacklisted.

[FlyByNick]

I was part of the class action lawsuit against Bank of America. I'll tell ya, it took a long time to spend the $23 I received.

[EthanMason]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[SimonTekConley]

So once upon a time, I opened a BoA account in Georgia. When I moved to California, I learned they didn't treat the accounts the same. I could put in a cash deposit in my account in California, and it would take 3 days to show up in my account. BoA suggested I close my account, and open a new one. So I did that, I opened an account at a great Credit Union in the area. I think they meant for me to open a new account with them, but if they couldn't handle accounts between states, I had no interest in using them.

[fleckflex]

Had a BOA account once .. went to close it. They told me there was a $35 fee to close my own checking account. I complained and the Bank MGR told me she would waive it. When I cashed out, I noticed the $35 was taken out. The same Bank MGR in a snarky voice told me, “oh I’m sorry I can only waive the fee for CURRENT customers which is not you.” I will NEVER EVER give them another dime.

[ronaldarchuleta]

They lost me as a customer when I worked for a staffing agency that didn't offer direct deposit. I was running $2, 000 through the account every month, but since it wasn't direct deposited they charged me a monthly fee. I went to a credit union, and never looked back.

[manleybadger]

I held a vice president title with Bank of America. I was a branch manager. I left in 2009 due to a health issue, but I can tell you all this: as bad as the company treats it's customers, which is quite bad, they treat their employees much, much worse.

[Thomagata]

I closed my checking with them a few years ago. Went in person to the bank, closed it and transferred all my money out to another bank. Soon after I get a notification that I got charged a fee for being under $35 then I got charged again because it went into the negatives. Had to call them to remove the fees and finally close the account. Cause I guess the first time didn’t count.

[geofff.]

They told my mom, who was dying of cancer at the time, that when she died they would immediately foreclose on her home and they said it in the meanest, nastiest way possible. Well, we had an out for that, but now in any setting I write where I can Bank of America goes out of business in the worst way I can possibly imagine.

[peterkuchenbrod]

About 25 years ago, BofA managed to empty my account through a teller error, totally unbeknownst to me. It took them a month to get my money back, and that was after I had to threaten them with legal action. So yeah, I hate 'em.

[MYTHOCCC]

This bank made me hate them even more when they decided to just shut down my account for no apparent reason, and when I went to the bank to get help the lady just flat out ignored me.