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WHY IS BANK OF AMERICA DOING THIS TO ME?!?!?!?!

New Member

WHY IS BANK OF AMERICA DOING THIS TO ME?!?!?!?!

I am a college student and i opened a bank of america account because those are the only available atms on campus and our school has some sort of partnership with them. recently, on October 20th my account began a closing process so i have been calling and speking to representatives about this and so far noone will tell me why my account is being closed. I was told that the company has made a business to no longer and nvere do business with me. Additionally, she said there are no issues and i did nothing wrong and i am free to go to another bank i just could never get an account with boa. i dont really understand why this is the case can someone please advise me on what could hae went wrong and is there some way i can have my account re instated or possibly open another acount one day? i dont see why they won't tell us the reason i mean there has to be a reason right??

Message 1 of 10
9 REPLIES
Contributor

Re: WHY IS BANK OF AMERICA DOING THIS TO ME?!?!?!?!

Step 1,

 

Obtain a credit report. Sometimes people who are new to financing have other people's information added to their report.  It could be due to a similar name, or inverted numbers in your social security number.

 

This seems unlikely since the rep said there are no issues. But better to check anyway.

 

Step 2,

 

google your name. Perhaps someone in power linked you to a unsavory person based upon your name, and axed your account without a real reason entered.

 

Edited: to include step 2.

 

 

Message 2 of 10
Valued Contributor

Re: WHY IS BANK OF AMERICA DOING THIS TO ME?!?!?!?!


HUBison wrote:

I am a college student and i opened a bank of america account because those are the only available atms on campus and our school has some sort of partnership with them. recently, on October 20th my account began a closing process so i have been calling and speking to representatives about this and so far noone will tell me why my account is being closed. I was told that the company has made a business to no longer and nvere do business with me. Additionally, she said there are no issues and i did nothing wrong and i am free to go to another bank i just could never get an account with boa. i dont really understand why this is the case can someone please advise me on what could hae went wrong and is there some way i can have my account re instated or possibly open another acount one day? i dont see why they won't tell us the reason i mean there has to be a reason right??


Bank of America has some nice features such as keep the change, Bank Amerideals, technologically advanced ATM's, and some of the best fraud protection in the industry. However, just because your college campus has Bank of America ATM's, doesn't mean you have to pay large amounts of money to use them if you do business with another bank. Open up a Schwab checking account and suddenly all of those ATM's become free, or find another instutition that provides free ATM usage and refunds fees charged by the owner. 

Amazon Store Card - 3.7k / AMEX Blue Cash Preferred - 1k / AMEX Delta - 3.4k / AMEX Hilton Honors - 1.2K / Capital One Quicksilver - 15k / Citi ThankYou Premier - 5.6k / Citi AT&T 4.6k / Citi AAdvantage Platinum - 6.5k / Citi Simplicity - 4.6k / Empower MasterCard - 1k / Navy Federal Flagship - 10k / USAA Limitless - 5k / USAA Rate Advantage - 2k (previously 5k)
Message 3 of 10
Frequent Contributor

Re: WHY IS BANK OF AMERICA DOING THIS TO ME?!?!?!?!


mountaindewvoltage wrote:

HUBison wrote:

I am a college student and i opened a bank of america account because those are the only available atms on campus and our school has some sort of partnership with them. recently, on October 20th my account began a closing process so i have been calling and speking to representatives about this and so far noone will tell me why my account is being closed. I was told that the company has made a business to no longer and nvere do business with me. Additionally, she said there are no issues and i did nothing wrong and i am free to go to another bank i just could never get an account with boa. i dont really understand why this is the case can someone please advise me on what could hae went wrong and is there some way i can have my account re instated or possibly open another acount one day? i dont see why they won't tell us the reason i mean there has to be a reason right??


Bank of America has some nice features such as keep the change, Bank Amerideals, technologically advanced ATM's, and some of the best fraud protection in the industry. However, just because your college campus has Bank of America ATM's, doesn't mean you have to pay large amounts of money to use them if you do business with another bank. Open up a Schwab checking account and suddenly all of those ATM's become free, or find another instutition that provides free ATM usage and refunds fees charged by the owner. 


Schwab has a very good bank with some great features, but Schwab isn't easy to get in with either.

I would say that there is a higher bar getting in with Schwab than with BoA. I would try and track

down what BoA's issue is before applying elsewhere. JMO, but if you can get in with Schwab, you

haven't lost anything being bounced by BoA. I've been with them for over twenty years and have

found them to be arrogant pr*cks to deal with when you have an issue, even one caused exclusively

by them. I maintain a relationship with BoA because their AlaskaAir Visa is my primary card but I

could loose BoA and not care a bit.

Message 4 of 10
Valued Contributor

Re: WHY IS BANK OF AMERICA DOING THIS TO ME?!?!?!?!


bada_bing wrote:

mountaindewvoltage wrote:

HUBison wrote:

I am a college student and i opened a bank of america account because those are the only available atms on campus and our school has some sort of partnership with them. recently, on October 20th my account began a closing process so i have been calling and speking to representatives about this and so far noone will tell me why my account is being closed. I was told that the company has made a business to no longer and nvere do business with me. Additionally, she said there are no issues and i did nothing wrong and i am free to go to another bank i just could never get an account with boa. i dont really understand why this is the case can someone please advise me on what could hae went wrong and is there some way i can have my account re instated or possibly open another acount one day? i dont see why they won't tell us the reason i mean there has to be a reason right??


Bank of America has some nice features such as keep the change, Bank Amerideals, technologically advanced ATM's, and some of the best fraud protection in the industry. However, just because your college campus has Bank of America ATM's, doesn't mean you have to pay large amounts of money to use them if you do business with another bank. Open up a Schwab checking account and suddenly all of those ATM's become free, or find another instutition that provides free ATM usage and refunds fees charged by the owner. 


Schwab has a very good bank with some great features, but Schwab isn't easy to get in with either.

I would say that there is a higher bar getting in with Schwab than with BoA. I would try and track

down what BoA's issue is before applying elsewhere. JMO, but if you can get in with Schwab, you

haven't lost anything being bounced by BoA. I've been with them for over twenty years and have

found them to be arrogant pr*cks to deal with when you have an issue, even one caused exclusively

by them. I maintain a relationship with BoA because their AlaskaAir Visa is my primary card but I

could loose BoA and not care a bit.


Schwab is easy to get in with, you apply online and your checking account is open. Their standards aren't any higher than NavyFed, Penfed, etc. 

Amazon Store Card - 3.7k / AMEX Blue Cash Preferred - 1k / AMEX Delta - 3.4k / AMEX Hilton Honors - 1.2K / Capital One Quicksilver - 15k / Citi ThankYou Premier - 5.6k / Citi AT&T 4.6k / Citi AAdvantage Platinum - 6.5k / Citi Simplicity - 4.6k / Empower MasterCard - 1k / Navy Federal Flagship - 10k / USAA Limitless - 5k / USAA Rate Advantage - 2k (previously 5k)
Message 5 of 10
Established Contributor

Re: WHY IS BANK OF AMERICA DOING THIS TO ME?!?!?!?!


mountaindewvoltage wrote:

bada_bing wrote:

mountaindewvoltage wrote:

HUBison wrote:

I am a college student and i opened a bank of america account because those are the only available atms on campus and our school has some sort of partnership with them. recently, on October 20th my account began a closing process so i have been calling and speking to representatives about this and so far noone will tell me why my account is being closed. I was told that the company has made a business to no longer and nvere do business with me. Additionally, she said there are no issues and i did nothing wrong and i am free to go to another bank i just could never get an account with boa. i dont really understand why this is the case can someone please advise me on what could hae went wrong and is there some way i can have my account re instated or possibly open another acount one day? i dont see why they won't tell us the reason i mean there has to be a reason right??


Bank of America has some nice features such as keep the change, Bank Amerideals, technologically advanced ATM's, and some of the best fraud protection in the industry. However, just because your college campus has Bank of America ATM's, doesn't mean you have to pay large amounts of money to use them if you do business with another bank. Open up a Schwab checking account and suddenly all of those ATM's become free, or find another instutition that provides free ATM usage and refunds fees charged by the owner. 


Schwab has a very good bank with some great features, but Schwab isn't easy to get in with either.

I would say that there is a higher bar getting in with Schwab than with BoA. I would try and track

down what BoA's issue is before applying elsewhere. JMO, but if you can get in with Schwab, you

haven't lost anything being bounced by BoA. I've been with them for over twenty years and have

found them to be arrogant pr*cks to deal with when you have an issue, even one caused exclusively

by them. I maintain a relationship with BoA because their AlaskaAir Visa is my primary card but I

could loose BoA and not care a bit.


Schwab is easy to get in with, you apply online and your checking account is open. Their standards aren't any higher than NavyFed, Penfed, etc. 


OP just needs to open an IRA or other brokerage account. Note that opening the brokerage account first with the REFER promo (Google it) gets you an extra $100 to sweeten the deal.

 

OP, best of luck getting your account reinstated. If you never overdrafted or other unusual activity, then you should be ok. http://ficoforums.myfico.com/t5/Credit-Card-Applications/Backdoor-Numbers/td-p/408066


TU FICO 8: 750 (11/17) — Ex FICO 8: 732 (12/17)
Message 6 of 10
Regular Contributor

Re: WHY IS BANK OF AMERICA DOING THIS TO ME?!?!?!?!

^ I got Shwab with 600 fico by doing excactly this about 7 years ago.




My credit .... It's over 9,000!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Message 7 of 10
New Contributor

Re: WHY IS BANK OF AMERICA DOING THIS TO ME?!?!?!?!

It's a bankruptcy predictibality algorithm to determine if your going to be a deadbeat, when safe credit union broke down the explanation as to why I was denied, I was upset, the said your credit scores are good, but the bankruptcy algorithm states your not an approve candidate

| January 2017 American Express Blue $3000 | October 2017 American Express Everyday $2800 | October 2017 American Express Schwab Investor Card $3000 | September 2017 Bank of America Cash Rewards Visa $1,500 | December 2016 Discover it | $2,200 | September 2017 Paypal MC $700 | September 2017 Nordstrom Store CC $1000 | CreditCare $12000 | December 2017 BBVA Visa $12000 |


EX 707 December 2017
TU 702 December2017
INQs: 5
Credit Started January 2017


cc
Message 8 of 10
Member

Re: WHY IS BANK OF AMERICA DOING THIS TO ME?!?!?!?!

i think schwab would be easier to get into. plus its always free. i havent paid a fee in over 9 years with them.

of course to get the free account you have to open a brokerage account too. luckly unless things have changed 

you dont actually have to put any money in it to keep them both open. 

Message 9 of 10
Frequent Contributor

Re: WHY IS BANK OF AMERICA DOING THIS TO ME?!?!?!?!

I hate BOA. You're better off

Message 10 of 10