Bank of America
is one of the largest financial institutions in the world today. They serve individual customers, small businesses, and large businesses and have a complete range of financial services from mortgages to asset management and every financial service in between. With offices in 33 states and 30 foreign countries, Bank of America is one of the powerhouses of banks in the marketplace today.
Bank of America doesn’t have a very high overall score submitted by their customers. They were below average for their accounts, customer service and online banking. Many customers with Bank of America were dissatisfied because they had their old bank purchased or bought out by Bank of America.
Bank of America ATMs are conveniently located in nearly every state and in 30 foreign countries so customers are more than satisfied. Having ATMs everywhere customers are located helps with customer satisfaction ratings.
Overdraft fees for customers with Bank of America have been a sore spot for quite a while because many customers complain that their bank statements don’t show a negative balance and customers
There are long waits for live customer service chats and multiple calls to resolve the same issue has left customers with a sour taste in their mouth. This feedback is from both personal and business account customers.
Customers are also complaining that their free checking is not free since you have to pay a fee each time you contact their customer service for assistance which is more often than not.
Customers and real estate agents alike complain that the closing time is averaging nearly 60 days and the underwriting process leaves a lot to be desired. With closing delayed and underwriting nightmares, reviews are horrible for Bank of America mortgage services.
Bank of America has a couple of deals that they are providing their customers not offered by other lending institutions;
• Bonus Miles for US Airways Check Card
• Cash Reward Visa Signature Card with up to $75 per statement
• Free McAfee Internet Security with Online Banking
• BankAmericard has $50 bonus when you enroll in their credit card and 1% cash back savings
• Add it Up Program that provides up to 20% cash back for shopping with preferred marketplace customers
There are a few customers that have rated Bank of America a nice 4 out of 5 stars for their services, but this is few and far between. The overall score on average for the bank is 2.5 stars. use our rating system to let us know what you think.
Bank of America Customer Ratings,
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November 21, 2011 at 7:34 am
Truly the worst bank. They are TOO big! Customer service is nill. If you have a concern, the only way you can assure a potential response is going to a branch. Online is horrible. If you call, you get bounced around to one automated menu after another. If you do get someone, they are quick to tell you whatever you are calling about is your issue, not theirs. Sad. I have several accounts with them, but I am moving it all to a local bank who can give me the service without the fees and hassle. I recently questioned $28.00 a month I was being charged. They promptly stopped it, refunded me one month, but refused to consider any further refunds.
October 6, 2011 at 8:37 am
service fees for everything, i think if you walk or drive by the bank you get charged, so go around.
August 9, 2011 at 12:25 am
The rating should be a MINUS 1 5 stars but you don’t have a rate low enough for this piece of crap bank. Bank of America just screwed me out of a $20k credit line because I am temporarily unemployed. I am single and a homeowner and I was counting on that credit as security in case I need help getting through this difficult time. A Bank of America employee, Sherri Wyman intentionally lowered my credit lines AND the minimum payment. However, I also have Credit Protection Plus and BofA was suppose to pay double the minimum payment on my credit cards. The balance is $6000 and the minimum payment (because BofA is responsible) was lowered to $15. UNBELIEVABLE. This bank SUCKS. I would love to burn it down. I can see how people go postal because I’ve never been so mad at a bank in my life.