Bank of America Cash Advance Scam

Hi All

Just another video from your favorite BoA hater! Anyway, this time I discovered that BoA charges people Cash Advance fees when they swipe their cards to use a parking meter! WHAT!!! That is just out of control, I seriously can't understand it! I mean, other than screwing their customers with ridiculous fees to generate more revenue, what is the point of that! How is swiping a card at a meter equivalent to using your credit card to get cash???

Category:

Nonprofits & Activism

Tags:

• advance
• america
• bank
• cash
• fees
• of
• scam

[jwatts226]

Hey there vagisil4eve - I currently work at BOA and have done so for several years. Although I don't 'agree' with all of our policies and fee structures - I do understand that BOA, as with all banks, are a for profit organization. Even more so - I believe that consumers need to be wise to terms and agreements - be it with banks, insurance companies, etc....

[vagisil4eva]

yes, a for-profit institution designed for the absolute bottom line, no matter the amount of financial suffering required to get there. yet another reason to bank with a local credit union. thanks for making my point for me..

[rocknesgirl]

question & I was merely trying to help provide an answer. The amount of crap ppl think they put up with being a cardholder will not EVEN come CLOSE to comparing w/the craziness we have to put up w/on the phones. Don't shoot the messenger. So now I've answered your question. I have one for you..

does making yourself look & sound like an uneducated idiot on the internet fulfill your hopes & dreams? I'm not wasting anymore time on this childish b/s. Have fun with your "erroneous" bank fees.

[vagisil4eva]

hey hey hey, sorry, no ill will here, i appreciate the honesty -- and sorry if i pegged you as another asshole BoA employee. notice how your comments are getting deleted. you've managed to do what no other BoA employee has done before --- earned my respect.

[vagisil4eva]

whoops, typo. i meant to say notice how your comments HAVE NOT gotten deleted.

[rocknesgirl]

First off, the fee is not a penalty. It's a standard cash transaction fee that is not only charged by BoA but believe it or not ALL other credit card's as well. And we all have to disclose this fee to ea cardholder in the terms & conditions of the card agreement. The APR is higher b/c you are borrowing money that isn't yours. I work in the CC dept and we post the transactions as they come through from the merchant (in this case the parking meter company).

[vagisil4eva]

And you're wrong, its not ALL cards. Chase, as far as I know, because I've used my card at a municipal lot and was never charged the ridiculous APR for swiping at a meter. ALL credit cards do not do that, sorry.

[man0204]

In capitalist America, bank robs you!

[AceOfHeart2012]

I honestly don't understand why people keep pissing and moaning about banks. The solution is so simple. STOP USING BANKS! Done. Any other questions?

[PerpetualTwilight9]

B of A is by far the worst financial institution I've ever come across.

[purity4all]

@rocknesgirl Ummm hey dummy........she's done with BOA there won't be any more erroneous bank fees! Now who looks like the idiot?

[purity4all]

@jwatts226 Do you enjoy making money off other peoples misfortune only to stuff it into the pockets of your COE via his disproportionately large paycheck?

[619Movement]

You Rock!!!

[sirlancelot148]

I just started at bofa a month ago and I love it! I don't work in the credit card dept so I'm not sure about those policies. it's a great place to work tho. my branch is amazing, like a little family. compared to citibank and chase, bofa is gold!

[camboy1132]

if you borrow from 2 different pay day loans. 255 x 2 different places 50 interest times 2 = 100 . if you do this every month you pay 1200 interest a year. how do you brake that Cycle.I was thinking of borrowing 100 less each month. but what happens if I slip ouch. they charge 400% interest. I wish there was cap laws in California on how much they could charge in interest.I feel they are trying to take advantage of us. Visa Charges 25% to 40% interest.cash advance charges 400%,CA has no rules

[Thomasl777]

Is she just being silly? Why on earth would you use your creditcard for a $3.00 transaction? No matter what, everytime you use your creditcard, you actually take away 2-5% from the merchant and in some cases you also pay a fee on the transation. You pay the bank 3-5% for the convenience of not carrying quarters in your pocket.!! ANYBODY WHO TELLS YOU OTHERWISE MUST BE SELLING SOMETHING. If the Mafia offers you 10K cash at 30% interest or your life, would you take it? It is the same thing.

[tfburges]

@rocknesgirl I'm pretty sure you are the one looking and sounding like an idiot by (ever) working for such a corrupt bank. And don't give me crap about how it was the only job you could find. I know it's much easier said than done but you can't get much more common sensical (<--not a word, I know :P) than this: if no one works for BOA (or similarly corrupted) and/or if no one gives them their business, they'll lose their power. Derrrr... Obviously it's more complicated but... step by step...