MOVE YOUR MONEY - Bank Of America Branch Manager Begs Customer Not To Close Accounts

This is a great story.

By Tripnman

Over the past two weeks, I have been closing down and moving money out of my Bank of America accounts. I have done my personal and business (I own a consulting business) banking there for over ten years but have decided to vote with my wallet and express my displeasure with the system by removing my money from their clutches. One by one, I have zeroed out the balances on various accounts by transferring and consolidating via their website. After each transfer I then called to close the accounts over the phone without issue.

Yesterday was different. I visited a branch to make a business deposit and when I arrived, there were signs on the ATMs indicating that the system was down and that customers should come into the branch. Before I got to the business customers' line, I was stopped by a banking associate and asked the purpose of my visit. I told him I was there to make a deposit and he waved me to a desk. When I sat down the banker first asked for my account number. I don't know it, so I handed him my ATM card. That's when he explained that all of their computers were down, and although they would accept the deposit, without the account number they would have to give me a generic receipt. Say what huh? When I told him that my newly opened accounts at a local (small, community) credit union would like the deposit he insisted that their computers were down too. Fifteen minutes after leaving BoA I found that to not be true and the money was happily deposited into a new account at the CU without issue.

Later in the afternoon I hit up a different branch of BoA and found their computers working just fine. I went in, asked to speak with a banker and was seated in an office. When the young associate came in and asked the purpose of my visit, I handed her my ATM card and requested that she tell me the balance. When she did, I then asked for a cashiers check in that amount. That's when things got wonky. She froze, stumbled over her words and asked why I needed that amount (It was not a small sum). This gave me an opportunity to explain that although I personally would not be affected by their new fees I know plenty of friends and family that would feel the pain. In solidarity with them, I wished to close the account and move on. She unwittingly suggested that if I just use my debit card once a month then there would be no fee. That was good for a belly laugh from me, then I again requested the balance to be issued to me in the form of a cashier's check. She then told me that there would be a $10 fee for this service. Another laugh. I guess it didn't sink in when I told her that I was fee adverse. There was an easy work-around anyway - I requested the cash. That finished my time with this associate banker as the amount I was requesting was "well past" her daily limit for withdrawals. I asked if there would be an issue with securing the cash and she said "I honestly don't know if we have that here" and walked out to get the branch manager.

The manager was pleasant enough and very direct. After introducing herself she flat out asked "What can we do to change your mind?" "We don't want to see you go" she emphasized. This opened a door for me to further explain my decision to leave the bank and why I was doing it. Amazingly, it did not fall on deaf ears. She indicated that understood where I was coming from and actually showed genuine surprise at some of the facts I provided her about the less than consumer friendly policies and machinations of her employer. She did make some feeble counter-arguments and repeatedly asked me if I would change my mind (with a hint of desperation!). I stood firm and by the end of our conversation she asked if I would be willing to put it all in writing so she could send it up the chain.

She shared that management is nervous, they are seeing money leaking out of the bank and realize that they have made mistakes.  She even hinted that there has been high-level discussion on reversing the new fess since there has been so much consumer push-back.  They are also aware of the growing momentum behind the November 5th move your money movement.

Why do I share all of this with you?  For one, I wanted to let people know that it IS still possible to withdraw large sums of cash from BoA and close your accounts - just be ready for them to beg.  Two, that management is aware that people are angry (how could they not be!) and have put an ear to the ground.

Occupy protesters outside the San Francisco headquarters of BofA.

Comments

[Ain't Bullshittin']

Pulled out of those Clowns establishment Lonnnnnngggg ago....Good Riddance BAC!!!!!!!!

[John Q Public]

BANKS GOT BAILED OUT!!!
WE GOT SOLD OUT!!!

[Landenber99er]

A little like trying to close the barn door after the horse escaped... Bank Transfer day is NOT just about fees, It's about the systemic corruption imposed upon the middle class by greedy banksters, and the fees are just a symptom of the larger disease. Begging, or reversing fees now will not, nor will it ever, compensate the American people for the criminal behavior that is still ongoing at the banks. Open a Credit Union account... now.

[dirty dan]

Why do foolish people insist on paying banks to spend their own money. Use cash you knuckle heads and quit empowering the bankers.

[George Forfa]

As I wrote when I first saw stories about this, I said "This works!". This is one area where people absolutely can assert themselves.

http://georgesblogforum.wordpress.com/2011/10/06/crash-course/

[S. Gompers]

BOA should be preparing to be homeless and eating out of garbage cans like those the screwed over with their schemes and scams.

Poetic justice is a bitch...

[Deb Vermaas]

I closed my Citibank account last week and moved my money to a local credit union. It only took me a little over an hour to change all of my online bill paying. All of this was such a great experience and made me feel like i was doing something about all the greed. My recomendation would be to move your money right away and see how good you will feel about it.

[user]

check survival in argentina blog. author says when there is no cash to close your account (moderate one) you can be sure that state will go belly-up soon.

[Cheyenne]

Deb--

Bravo. Citibank stole $640 from me in 2003. I'd bought 1000 shares of Philip Morris (NYSE: MO) 2 days before the ex-dividend date through my online Citi brokerage account. MO was the paying 64 cents a share per quarter. I checked my account the day after the $640 dividend should have posted and found it wasn't. I called up Citi to see what happened, and they told me I didn't own the shares until 3 days after I bought MO.

"Well, I'd sure as hell like to know who did own the shares since you guys drained 33 grand from my account on day 1," I said.

Bottom line is the Citi pocketed that dividend itself even though it was my money and my risk. I closed all my Citi accounts right after that phone call and started banking locally.

Wall Street banks are in the business of thievery and fraud and not much else.

[Cheyenne]

User--

I take it you're referring to this:

http://ferfal.blogspot.com/

I've read a lot of that guy's stuff, which is loaded with practical advice. It does, however, send chills up my spine.

[PWC, Raleigh NC]

Hi, the caption to the photo at the bottom of this post is incorrect -- that is a BofA building in Los Angeles, so those Occupy protesters are in L.A. (as reflected on their signs). That's the old Security Pacific building.

[Hal]

I realize that I've made some very poor decisions recently, Dave, but I still
have the utmost confidence in the mission.

[endtimes]

OCUPPY OR DIE !! IS THE SOLUTION....THE 1% MAY TRY TO TERMINATE US FASTER

[endtimes]

THE S.E.C / F.I.N.R.A Allowed the theft of stock investors like me and my 60K and millins more like me..devastating my savings are gone..........

[USER TOO]

This is a great news but I don't know whether you are simply making it up to bring traffic to site. The story lacks specifics although it is believable. To be credible, YOU MUST REVEAL the identity of the BOA BRANCH where this took place. Otherwise, it is just gossip in fantasy land. Bankers are still the biggest and most successful thieves.

[NotBofA]

FANTASTIC! This reinforces how important it is for everyone not only to close their accounts, but also to TELL THEM WHY! Check out the "Toolkit" at www.notbofa.org for some funny break up letters pre-addressed to BofA's CEO that you can download and customize. Themes include: I'm withdrawing my money "because I'm mad as hell!" or "because I'm a greedy capitalist" or "because I'm a patriot."

[Thomas]

Note to the author, you have the second paragraph written twice. That or I have had a stroke. I hope I haven't had a stroke.

[DailyBail]

This is a great news but I don't know whether you are simply making it up to bring traffic to site. The story lacks specifics although it is believable. To be credible, YOU MUST REVEAL the identity of the BOA BRANCH where this took place.

---

The writer of this post sent it to me by email.

[Cosmo Spacey]

Seattle artist Duff Hendrickson created a handbill design to protest Bank of America, Chase, Citibank, and Wells Fargo in support of the "Move your Money" campaign. Hendrickson donated it to Public Domain, so you are free to publish it, print it, put it on web sites.

Duff hopes you'll print it and pass it out in front or near the banks as a protest.

You can download the design at this website

http://www.archive.org/details/MoveYourMoney

[Cosmo Spacey]

@JaneDoe3000 I too bank at BECU credit union.They are great. In Seattle there is a rush of people moving money from B o A & Chase & Wells Fargo to BECU. On Move Your Money Day ( tomorrow) BECU says it will stay open as long as needed to sign up long lines of new members. This is the best way to protest. Big Banks get the message when the sound they hear is the chilling "silent sound" of money leaving their business.

[JaneDoe3000]

Banking with the big guys always left me with less money in my account each month whether I made a withdrawal or not. Now I use a credit union (BECU in WA state). If you have both a savings and a checking account with them, you earn 6.17% interest on the first $500 in each account. (The amount is just 0.10% after that). This is certainly not making me wealthy. But I get a big ol' smile on my face each month, regardless.

[Michael]

The photo is actually BofA's main office in downtown Los Angeles (not San Francisco) as the caption states.

[George Forfa]

Moving accounts to local institutions may be the only effective means of financial self - defense.

http://georgesblogforum.wordpress.com/2011/11/02/the-daily-climb-2/

[Todd]

I hate BofA (Bank of the Antichrist... as I call them). Reading this article actually made me laugh out loud.

However, deep down, I must admit some reservations. First.... if BofA does suffer a massive withdrawal at the hands of their customers, it's not the "big bankers" that will suffer. It's the middle class business managers and tellers that will suffer. There would be/could be a dynamic shift towards credit unions and alternative forms of banking. My hope is: these people will make the lateral shift to these jobs and positions. However, in this economic climate - I fear it will only make things much worse in the short term. I just can't imagine the WHOLE of BofA's workforce suddenly and abruptly out of work. And believe me.... if BofA's profit margins suddenly disappear and investors start yanking their money (as we see this month on BofA's stock price)... it will be the common worker who gets it right in the backside... not the big money managers. In fact, if the banking unit does go south, you can expect BofA to move all of their assets towards investing and other ventures. I guess, that wouldn't be such a bad idea. Would it? :)

I hate BofA with a passion. In 2005, they single-handedly forced my wife and I into a very bad position. It was if they WANTED us to fail. Point is: BofA would not work with us until one day they realized we were cornered due to their mismanagement of our accounts. Four years, and 500 phone calls later, I would win in court... but not before I lost my mind and my credit.

I now bank with Chase who, I have to admit, is fairly good to me. However, my relationship with them is very superficial. I will not, under any circumstances, borrow from them. I keep it simple. Small balances, small purchase. Big stuff goes to other outlets that I research from top to bottom.

ON that note: during my BofA ordeal.... it was Amex that worked very closely with us. I am forever their customer (no, I'm not selling Amex.. I'm just saying: they understood our situation and helped us.)

[Todd]

BTW (i forgot to mention).. if ANY of you have a problem with your bank OR feel you've been taken advantage of recently (whether it's unjust fees, rates or whether your bank had an accounting error) and you've lost battles with them before, NOW IS THE TIME TO BRING IT UP AGAIN.

I recently called my bank on a $14 transfer fee (that was recently implemented). I told them to "fix that fee or lose me. Now."
The next day, the credit was on my account along with a letter of apology.

As someone already said on this post: the banks can "hear the chilling sound" of silence. They'll do just about anything you ask right now.

Just something to consider. :)

[john [snip]]

Some local banks hope to embrace transfers
Grassroots effort taking hold nationally

http://www.onlinesentinel.com/news/some-local-banks-opento-embrace-transfers_2011-11-04.html

[snip]

John Everets, chairman and CEO of The Bank of Maine, said the bank's 33 branches will be open today and people can open a new account online.

"They're going to be taken care of," Everets said Thursday. "We're going to have people managing the phones for those who just might do that."

Bangor Savings Bank, which has 56 offices throughout the state, has extra staff on standby today.

The bank has seen an upsurge in new depositors over the past five weeks, and a substantial increase year-to year, said Yellow Light Breen, executive vice president.

"In October, our new deposit accounts were up 11 percent compared to the number of accounts we opened a year ago," he said. "In greater Bangor and greater Portland where big banks have a bigger market share, our numbers of new depositors were up 19 percent in greater Bangor and 38 percent in greater Portland."

[George Forfa]

Inertia is a wonderful thing, when it's going in the right direction. Once the ball is rolling, keep pushing.

http://georgesblogforum.wordpress.com/2011/11/02/the-daily-climb-2/

[restitutiontouscitizensfirst]

For lack of a better term I call this the contemporary version of redlining. One of the goals of the banks, utility companies and even city water services is to pad their incomes by charging excessive fees for late payment. In order to do this they must target people whose income is so low that they cannot meet the obscene requirements of these "service" firms. For the banks, in addition to the now publicized and criticized re-ordering of withdrawals, they have other means of creating the "NSF" situations to increase their incomes. One of these is the use of bogus shell firms that take small amounts of monies out of the account for goods and services that the account holder never asked for and never receives either. For those on a really tight budget, a withdrawal of $19.99 or $28.50 is enough to start the cascade of "NSF" fees, often taking half or more of one's entire monthly income within days. If one does not have the health or wealth to go and fight with the bank weekly or bi-monthly when this occurs - they are out of luck. I am sure that many senior or otherwise disabled accountholders thusly lose their autonomy on the basis that they are no longer capable of handling their monies which is a falsehood created by the banks, taking advantage of a industry wide level of trust backed by government denial and refusal to address despite many pleas. That trust has been destroyed by their own greed. Back to mattress stuffing times. Some banks create such a poor record for their customers with these criminal machinations that no other bank will accept them as a customer - so these banks have created financial prisoners. Walmart offers a debit card for a low fee that one can purchase with their paycheck but Walmart has declined to do the same for Social Security recipients with their checks. None of this is by accident. Social Security recipients are prime targets for this criminal, immoral activity.

Likewise, utility companies, for all their technology, prove themselves incapable of adjusting their billing cycle for when poor people get their checks. In this manner they create, intentionally, a record of "late payment" and our local utility just charged everybody in our neighborhood huge "deposit" fees just to keep our electric on. I personally was required to pay a $600 "deposit" which is half my total monthly income. Since rent anywhere equals my total monthly income, of course I am behind, always. The only reason I am not homeless is because my husband is still alive and combining our incomes is how we keep ourselves housed, for now. Later in the month the city water company shut off 1/4 of the houses on our block so they could charge us the $53 fee to turn it back on. We managed to borrow half the payment in order to keep our water on but the city refused to wait 5 days until we got our check and despite receipt of half the monies they shut our water off after 3 days. Cha cha cha ching! Clang clang clang in the cash drawer for our bankrupt city, taking it out of our hides because we are easy prey.

Thanks to this criminal activity that makes life constant hell for the sick and the elderly, I fully support OCCUPY!

[Canuck]

Definitely a pro-active move. If i had money I would too lol. But this whole OWS thing...as I mentioned before it don't smell right. The Freepers have dug up a little info on it.

Corporation that owns Zuccotti "Protester" Park Wins $168 Million Loan Guarantee from Obama DOE
http://www.freerepublic.com/focus/f-news/2790976/posts

Lots of deep shit there and it really stinks.

[ETM]

Canuck, you're looking for a conspiracy that doesn't exist. It's true there are those that would like to take control of the movement EXACTLY as they did the tea party version.

But that park was built long ago as part of a deal to allow other construction in the area, as I have heard it. I'm sure the corporation has many dealings with several government institutions under Obama, and (gasp) Bush before him, and none of that really means anything. The park was chosen for it's location, I'm pretty sure. Try applying Occam's Razor a bit more often.

[Canuck]

I think you're all ignoring the evidence in favor of what you choose to believe. The park is privately owned, why would BAM allow them to stay there, because they're such a lovely corporation? If you didn't read the link, let me enlighten you.

"John Zuccotti was also a long-term member of the Board of Directors of WellPoint Health Network (also known as Blue Cross of California, Blue Cross of Georgia, Empire Blue Cross Blue Shield in New York, Blue Cross Blue Shield in Missouri and Wisconsin, HealthLink, and UNICARE.)"

Forbes: Obamacare Favors WellPoint
http://www.forbes.com/forbes/2010/0719/investing-wellpoint-marvell-technology-makers-breakers.html

The $168 million was for the Granite Reliable wind farm project, Solyndra ring a bell?

A man convinced against his will is of the same opinion still
-Ogden Nash

[ETM]

Again, Canuck, I'm not trying to bash you or anything, but can you look critically at what you are saying here? Vaguely supposing "links" between frankly random facts (the park chosen for the protests and Obama being president) doesn't really count as critical thinking. Just because you're convinced "something must be there" doesn't mean there is. At least not whatever it is you're claiming (I'm not sure, is it that the corporation that built the park many years ago did so to host a protest semi-critical of the sitting president in 2011? I'm confused).

See, for a prime example of what I think you're doing, the story of Aaron Barr, who sadly convinced himself that he had connected all the dots to catch the anonymous hacking group, and was completely and totally wrong: http://arstechnica.com/tech-policy/news/2011/02/how-one-security-firm-tracked-anonymousand-paid-a-heavy-price.ars

[citizen]

The real reason Zuccotti Park was chosen:

http://www.dnainfo.com/20110928/downtown/zuccotti-park-cant-be-closed-wall-street-protesters-nypd-says

[George Forfa]

This is becoming a bigger deal, every day. It's been a very long time since people last did something that made life better.

http://georgesblogforum.wordpress.com/2011/11/02/the-daily-climb-2/

[john]

@Canuck...Appreciate that.

[john]

Occupy Boston protests Brookfield in Boston at one of their other properties.

http://www.youtube.com/watch?v=MXo5m-a1tjQ

[Canuck]

@ ETM, no i don't think you're bashing at all, polite and lucid reply you gave thank you. This whole OWS movement does not pass the smell test for me, not even a little. I hear reports Florida police are rounding up drunks vagrants and homeless and calling them Occupiers just to make the movement seem more than it is. We have Soros $s behind the company that began this, professional revolutionaries from Bosnia (again Soros funded) appearing in downtown NY, now Bloomberg's g/f is on the board of directors of the co. that owns Zucotti Park, Jo0hn Zucotti himself one of the designers of Obamacare, and what do the protesters want? Health care, never mind it has nothing to do with affordable h/c, it's all just another corporate money grab. Nor have the OWSers addressed the REAL issue of cause, they only address the effect. They get free gourmet meals, the chefs go on strike when homeless line up for food, alfresco is only for the OWSers, and who paid for the kitchens, the food, the chefs? Free use of a downtown Manhattan privately owned park, why? Read up on Otpor. They started in Yugoslavia and moved on to Bosnia, Venezuela, Greece, Syria, etc. All funded by Soros. As much as I would like OWS to be a genuine movement, every indication is that it is a lobbyist psy-op to not only divert a true revolution but serve the purposes of the corporatocracy. I haven't seen a single accomplishment or stated goal other than more debt and more government.Address the cause! Corrupt government!! Read this:
http://www.alternet.org/newsandviews/article/718959/jack_abramoff_gives_away_the_corrupt_insider%27s_game_in_%22our%22_congress_on_6​0_minutes/

OWSers are being used, exploited and duped.

[Canuck]

>>Occupy Boston protests Brookfield in Boston at one of their other properties.<<

Thanks John. Interesting...

[john]

@ Canuck, don't fret about those old boogie men wearing depends.;)

[WiseFather]

I made a video protest recently for my blog. It is quite funny even if you are pro-megabank. I called my credit card's customer service line to do some negotiating. Having a bit of leverage, I thought it presented a great opportunity to mess with them a little and make a few points about the unfairness of the credit card lending system. Since it's a protest at home, I called it my kitchen counterstrike against Bank of America. I think you might enjoy it. http://www.ragingwisdom.com/?p=508

[Former BofA customer]

Found this article via Wikipedia. I closed my BofA accounts back in 2011 when they wanted to impose the $5.00/month debit card fee. Because I had their eBanking package at the time, I felt the proposed fee defeated the purpose and intent of eBanking. I eventually received a canned reply from BofA telling me why they wanted to impose the fee, etc.

I closed my accounts without actually going into a branch. As I also had a savings account, I transferred every last penny from it into the checking account, leaving the savings account with a zero balance. Then when all outstanding checks had cleared, I wrote out a check payable to myself for the remaining balance (which included the entire amount transferred from the savings) and deposited into a local credit union.

Never looked back. :)

[frankie cunes]

my business partner wanted Property Mgmt & More Move-In / Move Out Inspection Checklist some time ago and found a business that has a searchable forms database . If others need to fill out Property Mgmt & More Move-In / Move Out Inspection Checklist as well , here's a <code>http://goo.gl/cnQ76n</code>.