18
votes
Bank of America freezing accounts of customers suspected of not being US citizens
Link information
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- Title
- Bank of America freezes account after asking proof of residency | The Sacramento Bee
- Word count
- 1187 words
And now, in addition to changing DNS, I need to change my bank, but I've needed to do that for a while.
Bank of America is slightly more legitimate than Wells Fargo, but this is an appalling violation of law and human rights.
It's a threat to every customer.
Petition here: https://act.credoaction.com/sign/bofa_immigrants?t=6&ak_proof=1&akid=29782%2E10086221%2EJ8avOo
Here's a tool to find a credit union in your area.
I switched from BoA to a credit union several years ago and I would never, ever go back to a bank.
Do it OP. Check them out. They're all different but some are amazing.
My credit union issues me a $70 dividend every year just for banking with them. I want to just say that again, just to be clear, "They pay me to bank with them."
Yep. BoA currently pays 0.01% interest on your checking account - though they'll generously bump that up to 0.02% if you maintain a balance over $50k.
My current CU has 1.57% on the first $10k in checking, so up to $157/year, but only if you kept a $10k balance.
The other big CU here in WA that I've been pondering switching to for awhile does 4% on the first $500 which is "only" $20/year, but any balance above $500 gets a 0.05% APY, so still 5 times better than BOA.
And that just scratches the surface of the benefits of a CU over a bank.
The spouse has had three different credit unions go bankrupt over the years; it may just be a matter of geography. I used to be a credit union member before we relocated. There's a good credit union (Space Coast) in the area, but we've also got Toronto Dominion Bank as an option.
The only reason I've stayed with BoA is card protection when traveling.