Bank of America - MyAccess Checking

Average Score:

•   Solid Checking, Despite a Few Inconveniences

  I just opened a Bank of America MyAccess checking account recently (July 2009), and so far I’ve been very impressed. I opened the account online to avoid the monthly maintenance fee (something I felt was a very nice perk to encourage online banking, and I wish more banks would offer incentives like this to use their online banking systems), and received my check card and PIN information in the mail very promptly. There is not a Bank of America branch in my town (though there are ATMs and there is a branch in a town fifteen minutes away should I really need to visit), but the options for direct deposit, moving money from accounts online, and depositing by mail really don’t make this a problem, and the fact that they have so many branches and ATMs nationwide really makes them preferable for me to a local bank despite this.

  My only criticism of the account is that it’s the only checking account I’ve ever had that did not provide a starter set of checks upon opening the account; I actually had to call and order them. With checks become less commonplace this is only to be expected, but it was still a hassle as checks are still necessary for some things, like rent and utility payments.

  Posted by m.hoolehan -- Aug. 10, 2009

•   Biggest bank but watch out for fees

  I've been banking with BofA since the early 90s. We have several accounts with them. One thing I like about their customer service is they have the online chat, but the available time is very short, 10AM PST.
  Bank of America is pretty much every where in the States, so you shouldn't have a problem of getting to a branch when you're traveling.
  When traveling, you MUST give them a call ahead of the travel time, they WILL limit your card usage when they detected 'unusual' activities on your account. Of course this is never thought of before hand, you only get to encounter the hassle of not being able to withdraw money at an ATM. Frustrating, to say the least. Then after you've been home, you'll need to call and go through their verification process before the limitation is lifted from your card.
  The other thing I don't like about their system is before you can get transferred or to the right person, you'll have to go through the verification steps with the person that picks up the line. Then you'll have to go through the verification steps AGAIN when you get to talk to the right person. Now this will happen every time you're transferred, to the right person or not.
  Of course the fees are pretty standard among the banks, but they WILL treat you differently based on the amount of money you have with them. If you have over $10,000, it's a completely different treatment than having a few hundreds.

  Posted by daisy_bnt -- Aug. 5, 2009

•   Not All It's Cracked Up To Be

  When I first enrolled in the Bank of America checking account 1 year ago I was so excited. I had seen all the commercials on television that basically made it seem like this is the best bank in America. I was also thrilled about the Keep the Change program. What they don't tell you is that Bank of America has some of the highest fees out there! Also, their customer service is horrible. Now, every now and then you may get a nice representative on the line, but the majority of them do not care about their customers and/or very rude. The average hold time that I experienced was 10 - 15 minutes of waiting for a representative to come on the line.

  Now for the good stuff. I do like that they have so many ATM's and Branches and that they are a national bank. So no matter what state you are traveling in you can find a Bank of America. Also, I have never had an error on my account thankfully. Oh and I also love that when you use your debit card it automatically shows up on the website instantly. So to sum it up I am cautiously looking for another bank while at the same time hoping that this one gets better.

  Posted by azizahtaheera -- Aug. 3, 2009

•   Excellent Bank In Spite of Reputation

  I know some of you don't like Bank of America but I have to totally disagree based on my personal experiences. I have nothing but great service from this bank. Ranging from online banking services to customer service at branches and on the phone. I have had fees waived for overdraft and duplicate copies of returned checks. There was this one error by online banking that was made to pay my property tax. The county did not receive payment and charged me 10%. I contacted BofA and they got on the phone with the County, with me on the phone, and proceeded to correct the issue by discovering that the APN number was cut off from the check. The County found where it was credited said they will refund to the bank if they would reissue a correct check and the 10% penalty. BofA issued a new check and said they will cover the 10% penalty. I don't know of any other bank that would cover a 10% penalty for a $4k property tax. As I said great experiences with this bank and lots of ATM across California and the USA (at least where most people would travel).

  Posted by Steelers79 -- Aug. 2, 2009

•   MyAccess Checking

  My first MyAccess checking account was opened on June 15, 2009. I opted to link it to a savings account and enrolled in the "Keep the Change" program. This has worked out great, as I am able to save money without even trying and, since I use my debit card more than cash now, I can actually keep real records of my expenses.

  Since then, I've opened another MyAccess checking account. This time though, it is a joint account with my mother. When I was transferred to New York for work, I had to leave our beloved pets behind. Getting money to my mother before was an expensive pain with wire transfers, WesternUnion, etc. Now, all I have to do is transfer money from my account into the joint account and voila! Mom gets pet support money instantly and I save money too.

  When either my mom or I have needed help, the customer support in person and over the phone has been great. I highly recommend both this bank and this type of account.

  Posted by cjsmonnie -- July 30, 2009

•   Great Bank!

  My husband and I have had an account with Bank of America for about 6 years. We've been very satisfied with our service. The few times our account has been overdrawn the customer service reps were nice enough to offer (once a year) to waive the first overdraft fee.

  We've avoided having to pay the other account fees by using direct deposit. The online bill payment feature is great as well.

  We've also been able to get personalized check cards- with our favorite charity represented on it(at no charge).
  
  We like to go to the ATM now to make deposits with cash and checks. It even gives us a print out of the check(s) we've deposited. And in Texas we have until 8PM to make deposits at ATM machines and the deposit will be processed that same day.

  We're very satisfied and have no plans on leaving Bank of America any time soon!

  Posted by stitchinmomma -- July 29, 2009

•   Decent Starting Account

  I got this account originally as a student, when I went off to school. I've had the account now for about 7 years and I still maintain it, although I'm currently living out of the country, so I don't access it on a regular basis. In general, I've been happy with Bank of America as a whole. Despite the recent financial issues, I still have confidence in the bank. That said, I think I could do better as far as a checking account goes. The pros of this account are unlimited check writing, visiting of tellers, and included online banking. The online banking itself is pretty slick and easy to figure out. The major downside to the account as I see it is not having an interest rate associated with the account. Many checking accounts are now paying interest, and since it's free money, I'm thinking of switching my account to one of these types of accounts. If you don't care about earning interest on your checking account (or if you carry just a small balance) than this is a good account to start out with.

  A word about customer service: They are on top of their game as far as looking for fraud, but be sure to warn them if you're planning to use your card outside of the country. I've had my debit card cancelled at least 4 times because they thought the card had been compromised.

  Posted by snash_03 -- July 28, 2009

•   MY ACCESS CHECKING SUCKS

  I have had my account for about a year, never had an issue, then recently, I forgot to transfer my money from savings to checking. I had a total of $130.00 of debits over the amount that I currently had in the checking account. I was charged $560.00 in fees. I called to explain that I had made a mistake, as they could see, I had the money in my savings account. I assumed that since they would see that I did have the money, and had never done this before, that I would get all but about $100.00 refunded. I was wrong, and customer service treats you like you are an idiot. I ended up screaming and crying on the phone, I am a single mom, and have lost my income. The money in the account is all that I have in the world, and they stole it from me. I think that my child and myself will move in at the bank since they took my rent money.

  Posted by sharonp30 -- July 23, 2009

•   Thieves!

  I had an account for about 4 yrs at Bank of America. I chose this bank because it was the most local bank available. I like the fact that I had online access to my account and that I was able to add my husband to my account with secondary IDs since he didnt have a driver's license. However, as I used this bank I began to notice how they were working transaction in their favor. I get paid once a month and so I do my bill payments and any shopping I have to do then. I noticed on my online statements that they would charge my account in a certain order in order to charge me overdraft charges. For example, let's say I had $45 in the bank and I used my bank card to spend $1 on monday, $5 on tuesday, $3 on wednesday, $8 on thursday, $15 on Friday, and $20 on Saturday they would tell me that my Saturday transaction would not be completed until Monday. Then they would charge the most expensive thing first, instead of charging what I spent first. So from those $45 instead of charging the $1, then the $5, and so on, they would first charge the $20, then the $15, then the $8, then the $5, then the $3, then the $1. So by the time they charged the $20, $15, $8, they would have to charge me a $36 NSF fee for the other 3 transactions instead of charging things the way they were supposed to and only charge me one NSF fee for the last transaction I completed.

  I would not recommend this bank to anyone!! Do not you this bank!! They are theives. You cannot work a person's account in your favor to make money... it's not fair, it's not legal. I live paycheck to paycheck and, yes, I know it's not good to overdraw, but sometimes it's necessary. So I made my transactions carefully and knew was the NSF fee would be. But when I noticed they did this... I closed my account and want nothing more to do with B of A.

  Posted by mcg87 -- July 17, 2009

•   Plenty of Access, Plenty of Fees

  I switched to Bank of America three years ago while I was working in New York City. Prior to that, I had been using a DC-area Chevy Chase Bank. Because I was traveling a lot for work, I needed a national chain to avoid the steep ATM fees and to this end, Bank of America was most helpful: I could find one anywhere. But I travel for work because I'm an actor and being an actor leaves me with little padding in my account. The automatic savings withdrawal usually gets siphoned back into the checking account from which it came and the $30 overdraft fees can be tricky because Bank of America shuffles transaction posting dates to make it harder to maintain a positive balance if you live paycheck-to-paycheck. I once spent hours arguing with a customer service rep because I had transfered savings money to cover a forthcoming checking transaction, but the Automatic Savings Overdraft Protection Transfer kicked in anyway, leaving me with not one but two overdrafts. So my efforts to manage my own funds only made things worse with the Automatic Transfer options. That aside, I appreciate how Bank of America Online lets me see all of my finances at once. Their dot-com interface is very well organized and lets me toggle between and transfer funds to my Savings, Checking, Credit Card and Roth IRA very easily.

  Posted by aravail -- July 2, 2009

•   Great online options

  I opened a Bank of America account in 2005 after closing an account with Citizen’s after some fraud issues. I can’t remember the application process, so it must have been easy. I had direct deposit at the time, so it was free. I’ve never had a reason to contact customer service. The only time I had an issue was when I was between jobs and didn’t have direct deposit for a month, and was charged a monthly fee (can’t remember the exact amount, but less than $10). Banks and ATMs are plentiful in my area and places I travel, and staff is always helpful and courteous anytime I’ve had to go up to a window. They have new systems at most ATMs now that scan checks, instead of having to put them in an envelope. How many times have you sealed a check and then forgotten the exact amount while making your deposit? No longer an issue. I log in to my account every day to review transactions (am a little more paranoid since the fraud thing), and I find their online system very easy to use. You can download statements, look at activity from a year back, search for transactions, and see the front and backs of checks that you’ve written, which is great since I don’t get checks with copies anymore. I’m sure there’s a bunch of other features that I just haven’t explored yet (online bill-pay for example). I no longer receive paper statements, and I like that option. I’ve had no problems with transactions between my B of A and my ING Savings account. If you’re looking for personal service and a bank that will be more forgiving of fees, etc., you may be better off at a smaller local bank. But for your online banking, and simple debit card and check transactions, B of A is an excellent option.

  Posted by danielajf -- July 1, 2009

•   Pathetic service

  I have this account from last one and a half year now. And I chose it because they were offering a $100 gift card to open new account.

  My overall feeling about this bank account is not very good. They dont even have any free checks available for the checking account. They also charge fees to wire transfer moneys to their account or to any where else.
  
  The best thing about this account is their e-checking system. The e-checks usually arrives in three days or so.

  The worst thing about this account is again, they charge fees for wire transfer, they have minimum balance requirements and also they dont provide any free checks to start with.

  Their customer service is also not too great. When you call them, usually they keep you on hold for at least one hour and then there is no direct answer to your question.

  I would NOT recommend this account to any one else unless if someone wants to pay for wire transfer fees and who wants to keep a minimum balance in their checking account.
  

  Posted by falgunsurani -- June 30, 2009

•   Bank of America Checking Account

  My hunband and I have had a joint checking account with Bank of America for almost 3 years now and are glad that we made the switch. We chose this account of course because it is their free checking account. Yes, they do charge $35.00 overdraft fees which we found out when my husband overdrafted the account on more than one occasion with many small purchases. The Customer Service representatives were more than helpful and accomidated us on more than one occasion with removing half of the overdraft fees for his silly mistake which was more than I could have asked for since he did overdraft the account and this information was told to us when we first opened the account. The staff is very helpful and always smiling. I love Bank of America! I highly suggest that anyone who is looking for a bank with good cheerful staff take a look at bank of America. Their hours are great for working people as well! I would highly recommend this bank and this account to anyone interested in a switch or even starting out when looking for a new bank.
  

  Posted by Sammieskitten3 -- June 25, 2009

•   Bank of America OK--Read Fine Print Though

  I opened a My Access Checking account with BOA back in November of 2005 and everything started off great and things are currently okay. I originally chose this account because of convenience. Bank of America is literally EVERYWHERE so I figured I could avoid unnecessary ATM fees if I just switched to BOA. Overall I really feel that BOA is a decent bank. They offer a variety of banking options and this variety is a very beneficial thing. However, I do feel that they are monopolizing the market and really going overboard with the whole fee system they have in place.

  The best thing about my account with Bank of America is again convenience. I relocated from MD to NYC and I didn’t have a problem at all with banking because Bank of America is now very popular in NYC too now. Even though my account was opened in MD I never had a problem depositing and waiting for my NYC paychecks to clear for more than a day which was very good to me.

  The worst thing about my account with Bank of America is the fee system. The fees are ridiculous—truly!!! They will really stick you with a $35 overdraft fee even if you overdraft by once cent! It’s crazy! Supposedly they are changing this and this is what I mean about BOA and their fine print. As of June 2009 the fee system is supposed to change so that the first overdrafts will only be charged at $10…I know there is more to this but from what I understood this is basics.

  My overall experience with Bank of America has been a positive one. The overdrafts at the end of the day are my fault because I should either have the money in the bank of at least overdraft protection of some sort. However, I really believe that Bank of America should really periodically review how there fee system is a big pain for its mainly loyal customers.

  I would recommend a Bank of America My Access Checking Account…but make sure that you read all the fine print and if you don’t understand anything regarding your account call customer service and have them explain the details of the account in full.

  Posted by cmj0312 -- June 23, 2009

•   I do not like B of A

  My experience with Bank of America started off good enough. First, the good stuff: I do like their website - the budgeting tools and graphs are very useful and look great. The website security is top notch, and the live chat help is also good. Where B of A goes wrong is with the people who are poor starving students like me, who live check-to check, like me. B of A loves to re-arrange the order of your transactions to maximize overdraft fees. If you go over your budget by one dollar, the bank will make the largest transaction post first to eat up your balance, then let the smaller charges through, and ding you every single time with an overdraft fee of $35 on the smaller charges. Their reps are not helpful either, and there is NO WAY to turn off overdraft protection! So, I had to close my account!

  Posted by AJ -- June 23, 2009

•   Typical Monolithic Bank

  I've banked with Bank of America for the last 11 years. In that time, I've had several different kinds of checking accounts: student checking, interest checking, and now MyAccess. The different kinds of checking accounts are really very similar, with minor differences in fees and balance requirements.

  The best thing and the worst thing about Bank of America is that it is a huge, multinational bank. On the plus side, this means that they have ATMs absolutely everywhere, making it very convenient to withdraw and deposit money whenever you need to. Recently, at least in the Boston area, they've upgraded their ATM system so that ATM deposits post the same day if you deposit by 8pm. This is a great feature, that pretty much eliminates the need to go into a branch anymore. Their online banking system is also very robust, allowing you to do pretty much anything you want from the website.

  The downside of BoA being so big is that every customer is just a number. They fee you to death and don't care about keeping you particularly happy because you're just one of millions. If you're primarily an online/ATM banker, and are able to keep close tabs on your account so that you can avoid fees, you'll do well with BoA. But if you prefer a bank with that personal touch, definitely look elsewhere.

  Two tips if you're thinking of becoming a BoA customer:
  (1) Open your MyAccess Checking account online instead of in a branch or over the phone, that way you can get a free account (for some reason, they can't give sign you up for a free account in a branch); and
  (2) If you have any kind of customer service issue, go into a branch instead of using phone or online customer service. In my experience, the people working in the branches are *way* more helpful and knowledgeable on average, plus it's harder for them to blow you off if you're standing right in front of them.

  Posted by kortney.shopping -- June 21, 2009

•   A great account...Most of the time!!

  I've had this account for over 5 years (opened in 2003). I've had my ups and downs with Bank of America. The best part of Bank of America is their fraud department. More than once I've had my debit card number stolen online and used to purchase things I did not authorize...and not once have I been held accountable. Their customer service is wonderful, easy to get a hold of, and usually very prompt. There are also banks and ATM's everywhere. They don't charge to withdraw money from 3rd party ATM's ( you would just pay whatever fee the ATM charges) and they now have ATM's at every mall in my city (San Diego, CA), which are completely free.
  The downside to this bank is their fees. They have outrageous account fees, and their overdraft fees are ridiculous. More than once I've been charged an OD fee on a "pending" charge, even though some of those charges never actually go through (such as authorizations), and it IS very hard to get rid of those fees. Those fees have been enough to make me want to close my account more than once, but the convenience of direct deposit and the customer service have convinced me to keep the account open.

  Posted by Theaterbelle -- June 18, 2009

•   Happy with BA Online Checking

  I am well pleased with MyAccess Checking account with Bank of America. Aside from regular check papers, I get to be able to pay bills online or offline. And I can track all ins and outs on my account anytime, anywhere.

  It was easy applying for it. I filled up an online form including my SSN number and all pertinent details and in a few minutes, I was informed that it is on processed. A few days later, I got an email saying that I was approved and in a few days I got the package including my platinum debit cards which is automatically debited ton my checking account immediately.

  I also get notice and promotions by regular mail every time as well as a bank statement periodically which I like so that I have hard copies just in case some other credit establishments need it.

  I used to bank with Washington Mutual but now I have switched my major bank account with Bank America although I still maintain Washington Mutual as a secondary bank. I like Bank of America as well because they have many branches all over the United States and also worldwide so I know I can always approach them anytime I need anything regarding my bank account.
  

  Posted by jemmerpablo -- June 15, 2009

•   My Access Checking account

  I choose the My access checking account, since there is no minimum balance needed as long as you have a direct deposit posted to your account every month. This is my main account and, i use it for almost all of my transactions. I have my salary deposited into this account, so i do not have to worry about the minimum balance. So, far i have had very good experience with customer service, and have had any issues resolved in a timely manner.

  It is very easy to access your accounts online, and view all your transactions. You can set email alerts for specific events, such as when an deposited is posted in your account, or when a withdrawal is initiated. I have set the minimum amount as $100, so i get an email alert whenever there is a transaction posted on my account. This is a very useful feature, and has helped me a lot.

  This is a good account for those who will have a direct deposited posted to their account every month. You have to remember that no matter if you maintain a good balance, or have bill pay, unless there is a direct deposit, you will be charged $5.95 every month.

  Posted by jaswant_kumar -- June 3, 2009

•   MyAccess Checking, free account

  I love this account! I originally signed up for it about a year ago, because of a promotion they were running. If I opened a MyAccess account and a savings account, Bank of America would match the savings that I had in my account!
  I'd originally banked with Wachovia, and had huge problems. I was constantly overdrawn by no fault of my own, customer service was terrible, and there were identity theft issues. So I was searching for a new bank, and saw this promotion with Bank of America. I live in the Charlotte area of North Carolina, where BoA is headquartered, and so there are no lack of locations. I set up my account over the internet and was instantly approved with no waiting or need for an in-person visit. My check card and account information was sent to me within about a week, although I did have some trouble with the 6-digit PIN that they originally gave me. I had to go to a bank location to reset my PIN to one of my own choosing.
  I recently called Bank of America to check the status of my promotion, which will be paid out in June (a year after account opening). Everything is still on schedule to transfer to my account, and I've "earned" about $60!
  Customer service with the bank is excellent, and it seems that they're willing to give you the benefit of the doubt more times than not. For example, a company once charged my account when they were not supposed to. I contacted the bank and the company in the same day (as the charge would have put my account in overdraft), and the bank took care of the charge 3 days before the other company did! I'd recommend the bank to anyone looking for an easy to use bank account with mobile access and internet capability.

  Posted by deuxceleste -- June 2, 2009