Bank of America refuses to allow customers to close their accounts

[Dianne]

http://www.youtube.com/watch?v=YHRRy4vSRbQ


http://www.youtube.com/watch?v=YHRRy4vSRbQ

[spudea]

private companies can refuse service. private property owners can ask you to leave.

[kylejack]

private companies can refuse service. private property owners can ask you to leave.
First they have to return your property to you.

[UtahApocalypse]

This has nothing to do with not letting them close their account.

[kylejack]

This has nothing to do with not letting them close their account.
Of course it does. They didn't like the signs, so they were making them leave. One woman didn't even have a sign. If they wanted to make them leave their signs outside to close their account, that is fine, but they never offered that alternative. In fact, the manager was even locking the door to keep them out.

[UtahApocalypse]

Of course it does. They didn't like the signs, so they were making them leave. One woman didn't even have a sign. If they wanted to make them leave their signs outside to close their account, that is fine, but they never offered that alternative. In fact, the manager was even locking the door to keep them out.

and the manager had every right to. Not ONCE did anyone from the bank say "You cannot close your account". So again I willl say this had nothing to do with closing the account rather then protecting the companies private property.

[specsaregood]

and the manager had every right to. Not ONCE did anyone from the bank say "You cannot close your account". So again I willl say this had nothing to do with closing the account rather then protecting the companies private property.

true dat. if they had gone in there without trying to make a scene or statement they would have been able to close their account, no problem.

[kylejack]

and the manager had every right to. Not ONCE did anyone from the bank say "You cannot close your account". So again I willl say this had nothing to do with closing the account rather then protecting the companies private property.
How can you close your account if the manager is ordering you to leave? Why didn't they come outside to collect the person's information and close the account?

[Kords21]

Couldn't they have just closed their account online?

[asurfaholic]

how annoying. How are they going to get their point across when they are being annoying annoying "....."?

[kylejack]

Other than in-branch method, looks like you have to do it by mail:


To close your account, please submit your request in writing to Account Closure, FL1-300-02-07, 4109 Gandy Blvd Tampa Fl 33611-3401. Be sure to have all account owners sign the letter and tell us how you would like to receive your balance.
http://www.bankofamerica.com/deposits/checksave/index.cfm?template=lc_faq_acct_info&context=&statecheck=TX&cd_bag=&sa_bag=&ch_bag=#question7

[Czolgosz]

What does their contract say?


Oh hey, looks like Johnny Depp was there. :D

[musicmax]

Couldn't they have just closed their account online?

And get their FRN's and coins back HOW?

[angelatc]

And get their FRN's and coins back HOW?

Check via the USPS.

[kylejack]

At the very least it is public relations stupidity. Collect their account information, ask them to wait outside, and bring them their cash. Have a nice day, please leave.

[specsaregood]

At the very least it is public relations stupidity. Collect their account information, ask them to wait outside, and bring them their cash. Have a nice day, please leave.

I turned the video off, did they actually say somewhere in the video that they had any money in their accounts?

[kylejack]

I turned the video off, did they actually say somewhere in the video that they had any money in their accounts?
The women said they both wanted to close their accounts, the manager said no, leave, they went back and forth for a bit, finally they go outside. Then a cop shows up, confers with the manager, and tells them that the manager said they're not allowed to act as a customer if they participated in the protest earlier.

[angelatc]

Ugh. The perpetual victim class.

[specsaregood]

The women said they both wanted to close their accounts, the manager said no, leave, they went back and forth for a bit, finally they go outside. Then a cop shows up, confers with the manager, and tells them that the manager said they're not allowed to act as a customer if they participated in the protest earlier.

so you are only assuming they actually had any money in their accounts?

[kylejack]

Ugh. The perpetual victim class.
Yes, those poor banksters. Boo hoo, we're not returning your property because you have a mean sign!

[angelatc]

For those of you not alive in the 60's, it makes perfect sense to keep the protestors outside. I was just a kid, but I remember protesters taking over offices (on campus, I think) for days.

The bank manager has no idea if these people are the first wave of an "attack" and has an obligation to protect the property of the employer.

[kylejack]

so you are only assuming they actually had any money in their accounts?
We'll never know, because the manager never checked.

[angelatc]

Yes, those poor banksters. Boo hoo, we're not returning your property because you have a mean sign!

These are apparently the dumbasses that were too stupid to close their accounts on their own when the fees start eating away at their balances, choosing instead to cry to Washington for price caps, which made fees go up even more.

They don't want justice - they are spoiled children seeking attention by deciding to close their accounts now that it's the trendy thing to do.

This is just a whole bunch of people that I don't like not getting along with each other.

[kylejack]

For those of you not alive in the 60's, it makes perfect sense to keep the protestors outside. I was just a kid, but I remember protesters taking over offices (on campus, I think) for days.

The bank manager has no idea if these people are the first wave of an "attack" and has an obligation to protect the property of the employer.
And to refuse to look up their account information even if they're outside, because they were "involved in the protest earlier."

[kylejack]

These are apparently the dumbasses that were too stupid to close their accounts on their own when the fees start eating away at their balances, choosing instead to cry to Washington for price caps, which made fees go up even more.
I'm not sure what BOA's fee structure is. My Wells Fargo account has been free until now. They're proposing a $3 fee, but it's not in effect yet. If they do it I will probably close and switch to a credit union.

[specsaregood]

We'll never know, because the manager never checked.

I think if they had anything in their accounts, they would said something on the video. At least, that would be my expectation.

[angelatc]

And to refuse to look up their account information even if they're outside, because they were "involved in the protest earlier."

Have you ever worked at a bank? Because I'm really really sure that they don't allow the tellers to conduct business in the parking lot.

[kylejack]

I know that Chase Bank had a very similar incident, but in that incident it seemed to be mostly people who didn't have accounts, and maybe one or two that did. Chase released a statement categorically denying that they prevented anyone from closing their account, and that those people were accommodated. The others were arrested for refusing to leave, rightly so.

I think BOA made a big mistake here.

[kylejack]

Have you ever worked at a bank? Because I'm really really sure that they don't allow the tellers to conduct business in the parking lot.
In this case they refused to conduct business with their customer. In any venue.

[angelatc]

In this case they refused to conduct business with their customer. In any venue.

I think they had just cause to suspect that foul play was afoot. Signs and a camera - no reason to think that this was a normal transaction, and therefore no reason to treat it as one.

They didn't refuse to do business with the customer via these venues: the atm, the internet, or mail.

[asurfaholic]

If nothing else it is extremely rude and disrespectful to the other customers who probably didn't appreciate the signs, cameras, and annoying loud voices.

I am totally on boa's side here. They acted reasonably and fairly.

[kylejack]

I think they had just cause to suspect that foul play was afoot. Signs and a camera - no reason to think that this was a normal transaction, and therefore no reason to treat it as one.
Some reasonable things they could have said: "There's no cameras allowed in the branch." "There's no signs allowed in the branch." Aside from holding a sign, the women seemed to be acting civil.


They didn't refuse to do business with the customer via these venues: the atm, the internet, or mail.
Can't close account via atm or internet, so she's left having to send a letter and wait for them to get around to closing her account, collecting interest x 9 on her money via fractional reserve banking all the while.

[nobody's_hero]

I think the manager just got scared. She didn't want them inciting some sort of bank run. That would be really bad. —Well not really. I wouldn't care if BoA collapsed. Yeah, don't really care. The problem is that they'd reach over to Washington and grab some more bailout money. BoA will never collapse. So now I'm wondering: what was the manager so afraid of?

[matt0611]

Some reasonable things they could have said: "There's no cameras allowed in the branch." "There's no signs allowed in the branch." Aside from holding a sign, the women seemed to be acting civil.


Can't close account via atm or internet, so she's left having to send a letter and wait for them to get around to closing her account, collecting interest x 9 on her money via fractional reserve banking all the while.

You know banks have ATMs pretty much everywhere that you can withdraw your money from at any time right?

[devil21]

If nothing else it is extremely rude and disrespectful to the other customers who probably didn't appreciate the signs, cameras, and annoying loud voices.

I am totally on boa's side here. They acted reasonably and fairly.

Will you have the same tune when your bank locks the doors the morning the run on your bank starts and you can't get inside to clean out your own account? Give them an inch here and they'll take a mile later. I don't see why a reasonable compromise couldn't have been reached to make both sides happy with the result. For those that forget, these banks think, act, and usually contractually claim that they OWN your money once it enters "your" account. "Your" account isn't actually yours, ever.

[Czolgosz]

People, if they didn't have an account there the jig would be up pretty damn quickly. If they aren't customers and the manager asked them to leave I believe the cops would have quickly escorted them outside.

Further, I believe local zoning laws only allow so many occupants in the building at a given time. If that number was exceeded the fire marshal could shutdown the event and get people out of there.

Finally, iirc, aren't there signs above doors (maybe it's just a Kalifornia thing) that say, "These Doors to Remain Unlocked During Business Hours." Again, this is a fire code which the branch manager may have violated by locking the doors.

And never mind the fact that drawing attention to yourself by being a douchebag is what gets planes flown into buildings, hostages taken, etc. etc.

She should have smiled and brought them to the special desk and handled the transaction. In and out. Now look at their exposure.

[Austrian Econ Disciple]

I thought the FDIC was supposed to get rid of the scare of bank runs. Just another useless morally hazardous regulation which socializes the Banking Industry. Nothing to see here folks.

[pcosmar]

You know banks have ATMs pretty much everywhere that you can withdraw your money from at any time right?

That is limited to a small amount of cash and you cannot close the account . only withdraw the amount they allow.

[DamianTV]

If nothing else it is extremely rude and disrespectful to the other customers who probably didn't appreciate the signs, cameras, and annoying loud voices.

I am totally on boa's side here. They acted reasonably and fairly.

Are the other customers even aware that BofA is trying to fuck all of their customers?

[kylejack]

You know banks have ATMs pretty much everywhere that you can withdraw your money from at any time right?
Within the daily withdrawal limit. I believe the default is $500 at BOA.

[Anti Federalist]

Yes, those poor banksters. Boo hoo, we're not returning your property because you have a mean sign!

This +rep!

If you think I'm going to get teary eyed over a bunch of fucking banksters whining about people "invading" their private property (private property they would have lost in foreclosure three years ago if they didn't steal trillions of dollars from the American people to keep their sorry asses afloat), well, think again.

Fuck them.

[Johnny Appleseed]

What this country needs is a modern day Bonnie and Clyde...Hit the big bail out banks... give money away to people living under the bridges across the country...you would have to undoubtedly die in a hail of bullets but to live forever in peoples imagination might be worth it

[donnay]

What this country needs is a modern day Bonnie and Clyde...Hit the big bail out banks... give money away to people living under the bridges across the country...you would have to undoubtedly die in a hail of bullets but to live forever in peoples imagination might be worth it

The gangsters are now the bankster!

[oyarde]

Pussies , if I went into my bank and closed an account , They would smile , say 'sure" and then they would try to get me to open a business account or give me a credit card ,