Bank of America giving America the big F**k You

[Alex_angel]

So BofA like all other banks got too carried away with thier free spending and now are caught with their pants down. Unlike countrywide who is sweating this, BofA didn’t break stride. All they did which I predicted they would do is raise thier fees on all of their services. They will make any lost mortgage money back in about a year or two with these new fee hikes. So the typical person that has nothing to do with this mortgage fiasco gets the big thumb up the ass because of all these assholes that ran the real estate market amuck

[Sandi Egan]

BofA is not a good bank for personal finance anyway. There are plenty of fee-free banks and credit unions.

[CarlsbadMtnBiker]

BofA lowers prime-lending rate
Tuesday September 18, 3:10 pm ET

Bank of America Corp. has lowered its prime-lending rate to 7.75 percent from 8.25 percent, effective Tuesday.
The prime rate is a benchmark used to set interest rates on corporate and consumer credit.

One of the 1st banks to do it… humm ??

[HLS]

WAMU blows BofA away. BofA sucks, always has in my opinion. Depressing branches.

WAMU has Long hours, great service, online banking, free checks, no monthly service fees, free outgoing wires, unlimited phone access…etc.. even a free overdraft once a year. (OK, OK crappy interest rates on deposits)

Best thing to do is keep liquid money in online FDIC insured bank account that pays over 5%, and transfer to WAMU
one day before you need it in there.
It’s been working like a charm.

(Hi CMB!)

[johnnyre]

Bof A picks up the extra slack with their ILLEGAL ALIEN credit card program they started………..

[patientlywaiting]

Why not go with a credit union? I don’t understand why people would put their money in big banks and pay all the fees. Usually, it’s people with low bank balances that pay all the per item fees.

[CarlsbadMtnBiker]

“WAMU blows BofA away. BofA sucks, always has in my opinion. Depressing branches.

WAMU has Long hours, great service, online banking, free checks, no monthly service fees, free outgoing wires, unlimited phone access…etc.. even a free overdraft once a year. (OK, OK crappy interest rates on deposits)

Best thing to do is keep liquid money in online FDIC insured bank account that pays over 5%, and transfer to WAMU
one day before you need it in there.
It’s been working like a charm.”

I love WAMU too.. they have a decent on-line interface with good features. As HLS mentions, good to go on-line with savings for a better rate of return. I suggest ING direct (orange savings acct.) that pays 4.5% and has a good auto draft from your WAMU checking acct.

[HLS]

CMB,
I use Coutrywide Savingslink at 5.50%, and it’s FDIC insured. Probably works similar to ING.

[CarlsbadMtnBiker]

“I use Coutrywide Savingslink at 5.50%, and it’s FDIC insured. Probably works similar to ING.”

that is a very decent rate for straight savings HLS -(especially after today), no strings?, min. balance?, underlying mortgage requirements ? Not a teaser rate?

[Critter]

WAMU has an online savings account that pays 5%. You have to get a online checking account to go with, but WAMU provides free checks for the life of the account and no minimum balance in either account. This is not a teaser rate and you don’t need to have a mortgage or anything else with them.

I like being able to be “just a click away” from transferring funds from savings to checking. With ING, it took two days to effect the transfer – not a big deal, but I don’t have to think ahead as much with WAMU.

Even the interface on their ATMS is user-friendly!

[bsrsharma]

credit union?

Why does anyone need a bank? I haven't used a bank for over 14 years. Only recently I opened a few online accounts to spread around my deposits for better FDIC coverage. I am completely satisfied with SDCCU. Before that, I was always unhappy with Wells Fargo. Imagine being charged for checking your balance on touch tone teller!

[eyePod]

“So the typical person that has nothing to do with this mortgage fiasco gets the big thumb up the ass ”

So BofA is big and evil. So why not just change banks?

[HLS]

Not a teaser, no mortgage required, no strings.

Less than $10K it’s only 4% APY (3.92% APR)
$10k-$250K is 5.50% APY (5.35% APR)
Over $250K is 5.65% APY (5.49% APR)
(Retirement accounts have FDIC coverage of $250K)

They may lower the rate soon, will see. If I request transfer by 4pm, it is in my WAMU acct the next morning. It’s worked great.

It was 5.40% APY, they raised it a few weeks ago.

They need the deposits, and it’s better and cheaper for them than the discount rate. It’s the highest liquid rate that I know of, and I haven’t had any problems.

Seriously don’t understand why anyone with $10k-$100K wouldn’t use them with the FDIC insurance.
Some of the “big banks” are paying like 3%…
https://bank.countrywide.com/

Am I missing something ???

[HLS]

I left Wells Fargo when they started charging me a fee to deposit CASH into a business account.
Haven’t been back since.

[Sandi Egan]

I am completely satisfied with SDCCU
Me too. Had online banking for years, pay ALL my bill online, great certificate rates (currently 5.25% 5-month cert) no fees of any kind.
Banks blow.

[Author]

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