Robbed by the Bank of America

Ever feel like you’re living in story by Kafka? If so, I could show you around. But you’re paying because the Bank of America stole $5,000 from me and refuses to give it back.

Here’s the deal: Up until the end of November the mortgage on the home I share with my wife and kids was held by Countrywide/Bank of America. We refinanced this past fall with Bank of America (no Countrywide) to lower our mortgage payment. So far so good. However, on December 2nd an automatic mortgage payment I’d set up with BofA’s online bill payment service went, by mistake, to the old now defunct Countrywide/BofA account
and to the new, less expensive BofA mortgage account. Simply put, we paid two mortgages. One payment went to a black BofA-owned hole. The other payment went to the proper account.

No problem. I call BofA and tell them to look at my checking account (they do), note the Dec. 2 debit withdrawn by mistake (they do) and ask them to either return the money to the checking account or apply the money toward our current mortgage. Easy peasy.

Thirty-six days later... BofA will not, seemingly cannot return my money. I’ve called. I’ve emailed. I’ve pleaded. The responses I get from the various representatives all revolve around “the payment research department.” It seems that this “department” must “research” this “payment” before a return can be made. However, this “department” is always down. The computers are down? The employees are down? Their thumbs are down on my missing money? I don’t know.

The latest email received today tells me that this problem will be resolved by January 6th, 2010. Note that this email from BofA is the fourth in a series that has promised resolution “within 5 to 6 days.” These emails go back four weeks.

Adding insult to injury, our Christmas-weary checking account has been repeatedly hammered (the $5,000 cushion ain’t there) and you would not believe the insufficient funds charges that are piling up. We’re talking hundreds of dollars. Money I’m sure they’ll be expecting from me
after they took my money in the first place!

This brings me to the
Huffington Post. Specifically their push to get people onto the Move Your Money train. Trust me, I’m on board. The moment the Thieves of America give me my money back I am so gone from those bastards and into my closest community bank. I’ll keep you posted.

Oh. And Happy New Year.