opening a BoA account

FORGET a BoA account, they are predators. Go with a Credit Union. Open the Yellow Pages (remember them?) and see what's in your city or general area.

 

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All banks...and I mean all including banks, credit unions and such...big and small have savings accounts that kids can be on. It requires a parent to open the account and be responsible for it. They do this for a couple reasons. It teaches kids to use accounts and save (and it gets them into the "system" in the hopes they use that bank in adulthood). The parents are responsible for the account...but the child's name is on it.

This is another example of you giving information about which you have no experience.

 

Right now I don't think the bank is the problem. Just ask your parents for a trip to BoA far enough in advance that they can arrange their schedules, if you give them a week or so I'm sure they could work that in.

 

That's not really a fair thing to say. Yes, they are a big corporation with average (at best) customer service and they change fees for everything...but they are no predators. There are pros and cons to both banks and credit unions. But, BoA is not a predator.

 

I think BoA told him they were going to cut him off if he didn't get an account.

 

http://www.reuters.com/article/2014/03/27/us-bankofamerica-settlement-fhfa-idUSBREA2P23720140327

http://www.rawstory.com/rs/2013/10/...r-countrywide-found-guilty-of-mortgage-fraud/

All of the "big four" banks are evil.

 

Congratulations...you found a couple links where a major corporation got in trouble. You could do that for any major corporation in the country. I am not a big fan of BoA myself...but they are not predators. The subprime lending for homes got a lot of banks in trouble...it even killed Washington Mutual.

 

The thread isn't about which bank is evil (they all are), it's just about what is involved with opening an account. BoA is the bank with whom he's been working, so assuming nothing changes, the best advice I can give is to work with your parents on timing out a trip.

 

How are they NOT predators?

pred·a·tor
noun\ˈpre-də-tər, -ˌtȯr\
: a person who looks for other people in order to use, control, or harm them in some way

 

Getting back on subject...

If any of your family members have an account at a local bank you could possibly turn them in saying you are dumping them on behalf of the account holder.

 

Tim...you can believe what you want. Yes, they and most other banks did some bad things during the housing boom...and yes, it hurt them too. They lost a ton of money because of it.

They are not trying to harm anyone, they are trying to make money. Banks are for profit institutions. By trying to cause harm to their customers is illogical. In the long run, such behavior will destroy a company. I formally worked for a company heading down that road.

They failed to predict the housing crash (like most banks did) which is what caused all that trouble.

 

Clearly, the banks within walking/biking distance know what he is doing. I highly doubt they will believe he is making a deposit and ordering half dollars on his parent's behalf. Plus, he never says they have an account with BoA..."his" bank is across town and too far to bike/walk too and it wound stand to reason that their bank is the same bank.

Tim, bank accounts aren't like eBay accounts. You can't just use your patents account when you can't get one.

 

Ethical? Really?

 

Nearly everything about large corporate management is illogical.

Look how many stores are closing, radio shack is closing over 1,000 of them. Trying to make a long story short and not sound a like a broken record, yes the economy played a role in it, but the upper management in many large corporations are operating on outdated standards that are causing them to go bankrupt in the long run. They don't see the customer, they don't understand what makes them tick, all they see is a large stack of cash and it then all competency just gets thrown out the window.

It even occurs at Kmart. We have one lane open, and maybe two when it gets busy, out of a total of 7 lanes, well guess what happens to all the candy on the unused lanes? You guessed it! It all gets thrown away and written off because those lanes aren't open and it goes bad.

Management asked the company to have all the candy in one area near the frequented lanes. Nope, can't happen. All Kmart's have to have the same layout.

Don't even get me started on the 30+ 20" tall boxes of paper we have on employee records because going green doesn't seem to click with these types of people and all that paper could fit on ONE hard drive.

Sorry to derail this thread, but this type of stuff infuriates me. I hate seeing all the waste, both materially and financially that these companies make due to sheer stupidity. Just like I said earlier, BOA wasted a dollar sending me 4 letters, multiply that by tens of thousands of new accounts and you can see exactly the "smarts" these kinds of people have.

America used to be a wonderful country and now it's going down the crapper because too many idiots are in powerful positions and it's really starting to show.

Au contraire, before I turned 16 I used to get boxes of coins and dump them all at the same bank my parents had (they knew I was doing it, because they gave me the ride), "Have an account here". "No, but my mom does". "Ok, that works!".

 

I find it amusing that large corporations take advantage of people all the time and no one gives a crap, yet when people take advantage of large corporations, they are viewed as if they committed a despicable act.

Get real, if large corporations take advantage of you, then you should have every right to do the same, it's only fair.

 

Every example you posted can clearly be explained by the fact that these companies have been unable to adapt to a change in the times. Look at Radio Shack...everything they sell is becoming obsolete. On top of that...retail outlets are being obsolete thanks to the digital age. This has nothing to do with banking or even the economy...it has to do with the changing world. As things change, some companies no longer have a niche.

You have no experience whatsoever with dealing with upper corporate management and you have no idea what they have to do. It's not as easy as you seem to think.

Yes, if you go in with your parents they will cash in the coins for you...but they are actually doing it because the account holder is there...not because you are. You don't order the box of halves...they do. You probably wouldn't have been able to do these things without them being present. In fact you didn't even have to be present...just them.

In this example...you are kind of like Indiana Jones in Raiders of the Lost Ark. Your presence would have nothing to do with the outcome of the story.

 

I think your opinion that large corporations take advantage of people all the time is completely inaccurate and frankly a statement from someone who has no clue what they are talking about.

 

Stop bashing those banks. Just go to a credit union. I am a member of practically every credit union in my area, and we have a lot of them. My onliest issue with one of my credit unions is that they have wonderful tellers, they call me when the goodies come in, they save stuff for me - but it seems like as soon as I have a teller broken in and trained to save me stuff they turn around and promote her to the head office and I have to go through the whole training process all over again. One of the tellers is a bit of a collector herself, so she and I have an agreement that she can keep the good paper money and I will help her with values etc, but she saves me all the good coins that come across. So I get the silver nickels, dimes, quarters and halves and she gets the red seal $2s and older silver certificates.

Just not sure why people torture themselves by doing business with large banks.

 

Radioshack had a niche. They sold things you could not get elsewhere, and they made out like kings on that, then other retailers came along and sold those things, but cheaper.

How did they respond? They raised prices, and then they started selling crap you could get anywhere else, such as coax cable, cell phones, and TV's, but [you guessed it] at a higher price.

Not a good choice, and now it's coming back to bite them.

Retail outlets are not obsolete. I know of no place online I can buy groceries cheaper than the grocery store, unless maybe I ordered 5,000 cans of chef boyardee.

Try to try on a pair of jeans on the internet, and let me know how that goes.

Retail CAN adapt, they just WON'T. They are stubborn, they keep doing the same thing over and hoping it works, they fail to see the world is changing, so they go on old ideas.

Some few retailers are adapting. I know of one where I can order something online, and go pick it up, free of charge. No waiting in line.

I do know what I'm talking about, I read the news, and I read between the lines.

Remember the Velveeta shortage? Kraft said "we don't know why we have a shortage".

Guess when this was? Around superbowl, the time of the year everyone goes out and buys chips and Velveeta cheese to make nacho cheese...

..and what a better way to increase sales by creating a false shortage so everyone goes out and buys a cartload of it.

If you want to buy into everything you see on the news, and let other people think for you, then by all means do so.

I think for myself, and draw my own conclusions, not the greasy TV news reporter's conclusions.

The more you open your eyes and take your blinders off the more you will realize how much of this kind of stuff goes on.

Companies screw people all the time, and if it weren't for the laws and regulations we have in place, they would screw them even more.

We live in a capitalist country. The goal is to make as much money as possible while screwing everyone as much as legally (and sometimes illegally) possible.

There is so much stuff that goes on "behind the scenes" that it is not funny. But like I said, people don't think for themselves anymore. They just watch TV or read the newspaper and take it for granted.

We have been screwing people for eternity. Hell, we screwed the Indians out of whole entire country.

We would not be where we are today if we didn't screw people over, it's human instinct, but we try and cover it up with honesty.

 

Tim, you work for one of those large allegedly "unethical" corporations - I sincerely believe that corporate entities are the sum of the people that they have working for them. Now indeed, there are a great many wonderful people working for your corporation. They work hard everyday, do the right thing, etc. How could I pre-judge the corporation you work for based on the whining you have done about your "K-Job"?

If I were you I wouldn't be nipping at the paw that is feeding you. It could be a lot lot worse. A "K-Job" is one heck of a lot better than you were doing several months ago, at least you are drawing an income. Be thankful.

We only have one K-Mart in my whole area. The others all closed down, the only other one had a roof collapse from snow back in December. This store is an older store, fixtures are old, floor tiles are old etc. But really, I cannot judge that store based on that.

You see, that store is personal for me. For several years now I have worked quietly with the staff in layaway to select particular layaways at holidays so that I can come in an anonymously pay them off. They are just wonderful people that go out of their way to make customers happy, and just get chits and giggles when people like myself come in and "force them" to have to call people with delinquent layaways and hear the anxiety from the person being called thinking they are losing their money and their layaway to only find out that the opposite happened. It is a team effort, and I am thankful to K-Mart for letting my ornery personage come in and make something happen for the people that need it most.