Posted on 07/11/2023 3:45:44 PM PDT by NautiNurse
BOA has been paying me 3% rewards for on-line purchases for 5+ years. Never a problem.
Money market is paying almost 5% now. Amazing for a flexible account with no need to lock in money like a CD.
Had a serious run in with B of A when doing bookkeeping bank reconciliations for a well known So Cal company.
They were charging 2 times for a check that got damaged in the original go-thru. First time-—got an * next to the check number on the statement, saying the check was damaged in processing, but here is the charge-—check will follow when reconstructed......Month or 2 later-—here comes the damaged check—inside a glassine envelope-—and we are charged AGAIN-—same check number & same amount.
Every month, I would show my Controller the new checks that were double charged. More & more-—(Early days of computers)
WHEN the total exceeded $100,000 (early 70’s), he scheduled a meeting with bank officials & “the programmer genius”.
Went on for well over 2 hours. Rather contentious with them not impressed that I was handling 14 bank account reconciliations & I didn’t have an accounting degree——
2 payroll accounts with weekly checks==6000 a month & Accounts Payable account with also around 6000 checks a month. IN those days-—cancelled checks were sent to customer-—These came in large boxes & shoe boxes. :)
I didn’t have an Accounting degree, but I knew how to do Bank Recs.
Programmer kept saying a check number couldn’t go thru twice-—ONLY ONCE.
So I finally asked him:
IF I write a check & I do not have the funds to cover that check -—(deposits were always posted after checks & overdraft fees)-—The bank WILL bounce the check-—RIGHT??
IF the person I wrote the check to deposits the check a 2nd time & I do have money there, the check will process a 2nd time-—WITH THE SAME CHECK NUMBER-—RIGHT?????
After about 2 minutes of TOTAL silence from 2 bank managers & the programmer, My boss was told the $100,000 +++++ would be back in our account the next morning. The “programmer” wasn’t too delighted with me. MY CONTROLLER always believed in me.
BUT-—The bank manager demanded that I get a permanent write up in my personnel file “FOR BEING SO STUBBORN”.
THAT REALLY PISSED ME OFF-—NEVER have done business with B of A in any manner since.
Went out on my own doing books for small businesses in 1980. IF I interviewed with a potential client & they said they did all their business with B of A-—I DECLINED the client.
Used to get offers of Credit cards from them. Sent them back with NASTY comments....
Dirty BOA.
AT least nobody is being separated from their families by going to PRISON FOR LIFE, They defrauded hundreds of millions of dollars.. It should be a Death Sentence for the entire Board and every Officer and Manager that knew about it .
BANK AGAINST AMERICA
The things when you have friends in D.C. is not limited.
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