Bank of America Charges Maintenance Fee for your Savings account in spite of having an automatic transfer of $25 every month.
I should say I am a very satisfied customer of Bank of America, except for one, their persistence in charging me Maintenance Fee on my Saving Account even though I am eligible for a maintenance free Savings account.
When I opened my Checking account with Bank of America few years back, they offered me with a Savings account along with the Checking account assuring me, I would not be charged any maintenance fee for the Savings account if I setup an automatic transfer of $25 per month from my Checking to Savings. That was pretty affordable. I agreed.
After a couple of months I was going through my account and found that the bank is charging me maintenance fee of $3 for my Savings account even though my automatic transfer of $25 is still on. I went to the branch where I opened the account and spoke to the manager who opened the account, he looked at it and said he was sorry for the charges and he credited that amount back to my account and assured me, I would not be charged again. But next month I look through my account and again see the maintenance charge of $3 on my Savings account, I was aggravated and had to go back to the branch and speak again to the manager, and he repeated the same thing, credited back the $3 and said it will not be repeated. I had to do this at least couple of more times and eventually they stopped charging me and I thought, maybe now their system works fine.
Few months passed, about 2 years passed and I happened to look at my account again and to my amazement I see, Bank of America has been charging me for the last 1 year a maintenance fee of $5 dollars for my Savings account and I do still have the automatic transfer of $25. So just called up their customer service and they looked at my account and said, this should not happen, they are sorry about it , credited all the charges back to my account, and again I am assured this time, it will not happen again. Should I take their word… better not… I better keep checking my account regularly for all the maintenance fees the Bank of America can charge you silently and will be quite till you don’t give them a call. If it’s a System failure, their Software Development Team needs a good QA Team, if it’s something else and Bank of America is just silently charging its customers, that’s bad for Customer Relationship.
So BOA Customers beware of such extra charges that can creep into your account silently, monitor your account regularly and give them a call about it. The good thing is they listen and credit back the charges t o your account. Even though I have had such silent charges, I am still happy with BOA Services. Overall they are good.
