Ok…so I know I can do some things online via my own bank…which is NOT Bank of America.
Our local B of A branches no longer have drive through banking. Now they have two drive through ATM machines instead.
The B of A branches close at 4 on weekdays and noon on Saturday. Some aren’t open on Saturday at all.
I use this bank for one purpose only…to deposit money into my kids’ accounts for specific payments I’ve agreed to pay. I do not have or want joint access to their accounts so I don’t have an ATM card I can use.
The very last thing I would do is open an account at B of A.
I will be checking interbank online with my own wonderful local bank.
I’m guessing it’s only a matter of small time before B of A closed for banking entirely and has just someone there for loans and the like.
Oh…and when I was there Monday…one teller (really a nice person) and a line of at least 10 people both when I got there…and left.
I have never been impressed with BOA. I have not had a checking/savings account with them, though did have a credit card years ago.
If the interbank online does not work out for whatever reason you can probably do a bill pay online through your bank and have the bank send a check to your kid. Then they can figure out how to deposit it, a natural consequence of choosing a bank that is difficult for you to deal with.
Venmo. I was resistant to it, but my kids insisted I try it and set it up on my phone for me. It’s perfect for sending them $$$ at the click of a button. No more manual bank deposits and mailing checks. I only use it for my three kids, nothing else.
@thumper I have noticed all of those things at the BOA branches in my town. DD has an account with them and like you, I put deposits into her account as needed. When DS leaves for college we will pick a different national bank for him to use in college.
Wait a minute…@thumper1 and @GnocchiB: You have deposited funds into your child’s BofA account, through either check or cash deposit at the teller, and do not have BofA accounts of your own, or your names (which grants you access) on those accounts?
@Waiting2exhale - I used to make deposits to my childrens’ BofA accounts at a teller - I had their account numbers, and would make out one of those blank deposit slips, and then just make a deposit. I couldn’t check their balance or withdraw money, but they let me deposit.
Now I make an electronic transfer using Zelle. You just need their email address or phone number.
Correct, @Waiting2exhale. The one time I deposited cash I had to show my ID. But I just go in with my check and a deposit slip all filled out and after I wait in an interminably long line they accept the deposit.
^^My bank doesn’t work with Zelle, so that is not an option for me. Venmo does not allow my daughter instant cash access, which she has, at rare times, needed. She does love Venmo, though.
I used to be able to deposit into her BofA account and then they changed their policy and now I am simply without that option. I have used another online workaround, but wanted to know if somehow things were working differently for others due to, oh, I don’t know, small town familiarity with people, or something.
Check again @Waiting2exhale Bank of America did indeed change the policy about deposits at a window a while ago. They were going to charge a certain amount for each transaction…another way to get folks NOT to come to the bank. They got a LOT of pushback on that and that policy was dropped.
It might be that both of my kids have a certain minimum monthly amount at B of A and both have direct deposit from work to their accounts. That might be the reason I can deposit at the window…no issue.
I have the account numbers and deposit slips for these accounts. I deposit using a check…and no one has ever asked me for an ID. My name is NOT on either kid account, BUT yes when depositing cash, you DO need an ID.
I had horrible experiences with BoA when my mother was ill with dementia. They seemed determined to make everything harder than it needed to be. I was thrilled to close that account (which had quite a bit of money it–they were falling all over themselves when I went in to close it) when she died.
I used to use Venmo to send kids money but now use Zelle which is so easy and the money is available sooner than it was with Venmo.
My last interaction with BofA was when we went into a branch near MILs house to close out an account that had been transferred there due to a merger. There was not a huge balance, but it was more than we wanted to,walk around with. The only was to get the balance, without paying a fee, was to take it in cash. After that was determined, the employee had to ask us, “So, why are you closing this account?” We were stumped; the last twenty or so minutes of conversation about how we could walk out with the balance, and our disappointment with the only fee free option, didn’t already answer the question? Never been back.
DH used to have BofA for his business accounts, but got tired of fees and poor customer service. The final straw was when they wouldn’t let him use his line of credit even though they’d been charging him annual fees for it all the years he didn’t use it.
BofA customer service went to the dumpster around Y2K, then it slowly got better and was quite good for a few years. Now it is taking a nosedive… quite predictable based on THIS:
S2 had a BOA account that was for online/ATM only. Couldn’t deposit checks without a debit card or cell phone. This doesn’t fly while he’s overseas, so he switched to USAA. BOA overseas withdrawal and exchange fees were much higher than USAA.
Daughter had a check to cash drawn from their bank.(I mean they could verify the funds and it was only for $50) They said they would charge a service fee to cash a check drawn from their own bank because she didn’t have an account with them. We left the bank and just cashed it at another bank where we had an account instead. When she relayed the story to our bank they thought that was weird.
We’ve been with BoA for many years, and generally not unhappy but our needs are pedestrian. However, last week I stopped by to have my signature for another, out-of-town bank, notarized. I was informed that they can notarize only if the documents is on of two acceptable formats, which mine wasn’t. I was very disappointed but went to another bank, where I have only one small account. The teller did it promptly and professionally (and didn’t even ask if I had an account).
Want to hijack this thread- comments on Chase? Will not try to change to BOA based on these comments. Chase location more convenient for our rare deposits/withdrawals. They built the latest branch recently so I suspect they will be open for business for the next several years.
Last week I went to my bank to get rid of H’s coins. Was told they no longer roll them and that a local grocery store did it for a fee. I got wrappers and rolled several. Had over $7 in change left ($16 rolled) so made my Walmart purchase with coins on that trip. That not too bright it turned out clerk had so much trouble with how he took my money (initially just held them, the obvious solution was to make piles of $1 amounts). Midway through a customer told me they have a coin machine- later found out it was free.
I still remember eons ago how I had to find time to deposit my residency paycheck at the local bank to be able to pay my rent on time. No ATM’s. Now various ways of online bill paying et al are wonderful. It’s just for those few in person times it has become so difficult. I do not want direct deposit for rebates- I can imagine my account being hacked…
@wis75 - the in-laws had a checking acct at Chase. In order to get my husband added as a signatory on the acct, they demanded H give them ALL of our financial information as well as a complete update of the ILs finances (bank & investment accts), saying it was per banking regulations. No amount of discussion or raising level of mgmt would change. ILs closed accounts and put the $100K+ into another institution which couldn’t find any sort of banking regulation of the sort. We know it was just to get them into their private banking, but it was so underhanded.
BofA stopped letting my mom have checks sent to her branch instead of to her home mailbox (she was concerned about theft) and then nickeled and dimed her to death with fees.
There are very good reasons why we switched years ago to a CU and have never looked back.
Wow—@zeebamom, that’s pretty high-handed! I can see why you refused. We’d have walked as well. Who needs to disclose any more info than is essential these days. Cant see how being a bully would want to inspire you to handle MORE of your assets. Yuck!