No longer free checking, terrible branch hours
I had an account at another bank, but since I was often at BoA making deposits for my boss, I figured it would be easier to cash or deposit my paycheck there as well. Unfortunately, the branch closed at 4PM on weekdays, always had long lines due to a lack of tellers, and employed the most unhappy tellers I’ve ever met. I just put up with it for the convenience of being able to deposit my checks while running banking errands for my boss.
At the time, they offered an eChecking account for which there were no fees as long as you (a) signed up for paperless statements and (b) used self-service options – mobile deposit, ATMs, etc – instead of going to a teller. Fast forward a couple of years, and they discontinued this checking account model, changing my account to where the only way to avoid fees was to have an automatic transfer of at least $25 to my attached savings account every month. Easy enough, right? And if I was running low on funds one month, I’d just let the transfer go through and then transfer it back to checking.
Today I log in and find out that’s not an option anymore either. It seems the only way I can avoid fees is if I have at least $10,000 in my account – never gonna happen. Otherwise, they’re charging me $5 a month. And the only other checking available also charges $5.
Fortunately, I still have my accounts at BBVA Compass, and they don’t charge me any fees no matter what my balance, don’t force me to transfer money to savings, and don’t mind at all if I use their tellers every single day. Plus, I no longer work for the company that was sending me to Bank of America a few times a week, so it’s not like I need to do my banking there.
Obviously I’ll be closing my BoA accounts as soon as possible.