Today was a very satisfying day for me. After working with Bank of America for the last 21 years (originally with Maryland National Bank, which then became Nations Bank, which then became Bank of America); and having had my most recent personal checking account since I turned 18 in 2002, I have closed the last of my Bank of America accounts.
Now…let’s get some ice cream and celebrate!
This was a good week. I closed five of my nine Bank of America accounts this week. First of all, these were all business checking accounts which required a $3,000 minimum balance in each of them. I moved them over to Navy Federal Credit Union, which has a $5 minimum balance per account. As a result, I just freed up $17,975 in capital for the five businesses.
When I went into the Bank of America branch to close the accounts, I asked if I could receive cashiers checks. The branch manager had the audacity to tell me that there would be a $20 charge PER ACCOUNT to receive my own money. She told me I was more than welcome to write myself a check, however for three of the five accounts, I didn’t have any blank checks. No thanks, Bank of America – I did an ACH instead; and unlike Bank of America, if I initiate the ACH from the receiving bank’s system, there is no charge at all.