Monday, March 01, 2010

Bank of America Gougers Redux

I went to clean out my deposit box today at Bank of America.  As I said before the rates on the little metal container had gone up 300% in three years.  I had the box there since the 80's.  When I asked the young bank manager why this was done he said, "All the banks are doing it.  That is how the economy works."

I might ask have asked  him what other things had gone up 300% in price, but it would have been seemed as condescending as his remark to me was.  Bobbi and I need to decide if we will leave any accounts open with these guys at all.

5 comments:

Anonymous said...

Hi Jim - we are mad about this as well - our deposit box cost us $25 a year when we opened it, now it's up to $47! Do you mind sharing what you decided to do with the items in your box? Did you take them to another bank? We are trying to cut ties with B of A as well and closing down the safety deposit box will be the first step.

Jim Baca said...

I put my papers in a fireproof safe. Just wills and stuff. Other valuables are safely tucked away from my home.

2b said...

Hi Jim - We don't have a deposit box with BofA but we are in process of buying a house from them - it's a repossession in Ft. Worth. BofA has been very difficult to deal with, will not answer questions about the house and has kept the garage and store-room locked until final inspection, fun buying something sight unseen. When this is all said and done we are moving our accounts, savings and checking, out of BofA, hopefully to a friendlier bank.

jfslenes said...

Good gracious, Jim and I can agree on working towards terminating any and all business dealings with mega banks such as BoA. I'd advise anyone who can to join a credit union and get your free checking account, safety deposit box, credit card, and other services there. Second alternative is a small and solid local bank.

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Roland said...

I agree with jfslenes, get a credit union account. They have all the services like credit cards, safety deposit boxes and are non-profit and member owned. Send the big banks a message and don't help them continue to gouge their customers.