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Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: BofA MyAccess Checking



rbbyrbsn wrote:
they can't hard your for a checking account unless there is a ODLOC connected, they soft you report to verify you idenity based on the info in the report


Unfortunately, this isn't true.  A checking account provides sufficient PP for a hard inquiry.

 
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App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Established Contributor
CreditDrama85
Posts: 1,044
Registered: ‎07-03-2007
0

Re: BofA MyAccess Checking

it has nothing to do with whether or not the bank knows you, B of A just sucks. they hold all deposits and are not a real bank IMHO
Established Contributor
Posts: 739
Registered: ‎06-30-2007
0

Re: BofA MyAccess Checking

it's not a credit product
 
People say "Only apply for credit you NEED"

I say "apply for credit you have PRATICAL use of"

I don't have AMEX card because I don't want a card that suffers from PMS
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: BofA MyAccess Checking



rbbyrbsn wrote:
it's not a credit product
 


Doesn't matter.  They still have PP.
 
It's a common misconception that you have to be applying for credit in order for anyone to have PP for a hard inquiry.  It's just not true.
 
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App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Valued Contributor
Scamp
Posts: 2,791
Registered: ‎03-18-2007
0

Re: BofA MyAccess Checking



CreditDrama85 wrote:
they hold all deposits

Erm...not true.
 
New customers ARE subject to random, up-to-a-week holds on their deposits over $100.00, but that 'newness' ends at 90 days, and after 60 days, they aren't supposed to sit on funds from local-bank checks longer than two days.  Even then, if you deposit in person, they can tell you if you're deposit is getting nailed with a hold and ask them to get the funds released the next day.
 
Possibly high-amount check deposits and/or personal-account checks are subject to more holds and issues, but it's simply not correct to state flatly that they 'hold all deposits'.
 
If you are having something like a locally-drawn paycheck held for a week every single time, you need to go into your local branch and talk to somebody to straighten it out.
_____________________________________________________________________________
It's never too late to become the person you might have been. ~George Eliot

02/12/09 EX: 701 / 02/08/10 EQ: 719 / 02/08/10 TU: 723

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Regular Contributor
AboveAverage
Posts: 123
Registered: ‎12-27-2007
0

Re: BofA MyAccess Checking

Just to add my .02
 
I have a BOA checking account that I opened in 3/08 (Myaccess checking). I then had direct deposit not too long after. When I switch direct deposit, I had to cash my check the "ghetto" way by going to the check cashing place and eat the 3% (wasn't going to wait 10-11 days for what was my rent check). That was my only inconvenience. When DD took effect the next pay, I have never had to wait more than 1 business day for a check to clear. I deposited a 1100 check about 2 months later from a client that cleared the next day. I would have gone to the bank that it's drawn from first.
 
BOA has always been good with whatever I asked. A creditor had cashed my bill pay check 1 day early and it caused my account to overdraft. When I called BOA, they saw how it overdrafted and saw the date of the Online Bill Pay check. Was credited the $25. I have nothing but good things to say about BOA. I have their secured credit card product and love the fact I can pay them same day. Their "My Portfolio" product tells me how much I'm worth and thanks to my auto loan, I'm worth negative 8k. (that's -9k...). I can keep track of all of my bills, CCs, etc and pay them straight through BOA. Plus, where I'm from there are so many BOA ATMs I have never had to pay a out-of-network fee...ever.
 
It's a good bank and I am very happy with them. So far. My finances have never been clearer and I would never go to a no-name bank again. I love the fact that even check deposits at the ATM clear in 1-2 business days. I don't even need to deal with a teller.
 
The only complaint I had....was that they did not offer starter checks. I called and complained and "as a courtesy" received the 50 starter checks that you're supposed to get when you open up an account. Even that was resolved to my satisfaction. As long as you're not a scumbag always overdrafting (and when I was younger...I used to be that scumbag), you will be treated by them fine.

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