Banks are a rare form of business that can charge for services not performed--and still get paid! They can do this because they have your money to start with.
Twice in one day I had a very bad experience with Bank of America. Since their
site does not have a link to submit feedback, I am posting it here.
Every few years my Chinese mother-in-law visits the United States. In order for her to get a visa, our family provides a "letter of support" stating that we will pay her living expenses during her stay. As of July 2006, the government requirements are stiffer, so now we must also obtain a letter from our bank showing financial assets. The letter must be signed by a bank official, and convey when our accounts were opened, average balances, total deposits, etc. (A photocopy of a bank statement is no longer acceptible.)
About a month ago I went into my local Bank of America branch to request this letter. The branch manager was unable to provide the letter herself, but offered to order the letter from Bank of America headquarters.
Shortly thereafter my account was charged $50. Fifty dollars? Fifty dollars!!!
First of all, I get documents notarized all the time and am never charged a nickle. Second, I get statements all year long for free. What is up with a $50 charge for a letter?!? (Notice that the consumer has no say in this matter. I cannot tell my mother-in-law she's out of luck. I cannot move my money to another bank because then I'll have no banking history. Bad situation.)
So after nearly a month, I called Bank of America today to find out what happened to the request. Basically nothing happend. They charged me $50 and they did not mail a letter.
On a funnier note, the customer service manager on the phone handed me off to a clerk to complete the letter. Of course I had to explain the whole purpose of the letter to the clerk to complete the request. As I started to hang up, the clerk said "Can I place you on hold while I write the letter?" I asked if she was done, and why I couldn't hang up.
She said to me "If you hang up, then I might get another call, and I wouldn't be able to complete the letter."
