Banks Have Too Much Control and Are Out of Control
(@AskCiti @BofA_Help)
note: to add insult to injury, I just received a letter that CitiBank is discontinuing the AA Advantage Miles program. Way to Go CitiBank, you are about to lose a customer!
Much to the surprise of many people banks in particular US Banks are really becoming one of the most hated institutions in our nation.
Most of what is going on in protests for Occupy Wall Street is due to the greed of banks.
But it even goes further than greed of the few at the top, the ones making hundreds of millions each year in salaries, bonuses, and other incentives, most of which included golden parachutes, wether or not they bank makes money or not, but clearly the incentive is to make money regardless of the toll on the consumer.
In a recent post I wrote about my experience with CitiBank and how they managed to screw up seriously a check that was deposited by someone else to a different account and then the amount was debited from my account and I was also charged a bounced check fee. Let’s take this up a notch to illustrate how bad it really is.
Today a co-worker received a notice of default foreclosure package, and get this he wasn’t even late by one day and he has a cancelled check to prove it, he even goes as far as taking the check from one bank and personally making the payment at the local branch.
And when he goes to the bank branch they are pretty much useless, they call the same number and get the same call centers in India or the Philippines, you can barely make out what they are saying and they ask you to repeat everything twice.
In the meantime the process within Bank of American has already started, possibly damaging credit history and not to mention the stress caused.
If you don’t believe me read this story, and it is not unique:
Debbie Lambert from the Office of the CEO and President
Bank of American spokesman T.J. Crawford
Rick Simon – Media Relations – Bank of America Home Loans
Cathy Talarico – Customer Advocate – Office of the CEO & President
Bank of America
Home Loans
CA6-919.01-41
P.O. Box 5170
Simi Valley, CA 93052-5170
Banks really do know how to push buttons, when it comes to customer service. and then to top it off, they just love to make it seem like it is all your fault. You must have been late, there must be something you did wrong. Never is it, maybe we screwed up, we are sorry, here’s a credit or gift card to Starbucks or a check card for $25. Some goodwill.
Citibank at the local branch, the manager at the Hastings Ranch offered me mileage. I took it, but thought jeez, that’s pretty cheap. But at least it is something.
Do you have a bank horror story to share? Please share.
Now the banks want to charge consumers more to withdraw money.
The schemes the banks do to get people stuck is amazing, No fees if you have over a certain amount deposited and have automated check deposit and something else. If you don’t have a job how do you get automatic deposit, does the unemployment department auto deposit your check?
How do we as citizens take the banking system and flip it upside down, because it is totally screwed up.
