Did you try logging into your Bank of America Account on Friday? Service was intermittent all day long. The Bank could not be accessed by Mobile, nor by Cable Internet, nor by Wireless HotSpot. Bank of America is in Denial, but it is obvious that Annoyed Hackers took it down.
Those who "Love to Hate B of A" were amused to see the Bank's Website crashing and unavailable today. But those trying to access their account were terribly inconvenienced. Bank of America went into Full Damage Control, issuing the usual statements of "Website Maintenance" and "Upgrades".
But Everybody knew what had happened - B of A's new $5 per month Debit Card Fee, even if you only bought a $2 cup of Starbucks, had brought on the wrath of The Hackers.
The SF Weekly Blog has this Article on the Hacking (click on the Image to visit SF Weekly)
What Will You Do regarding Debit Card Fees? It's easy to pay Cash at restaurants, stores, gas stations - but what about Online Transactions? Do you have Bank of America Checking or Savings Accounts? Will you Close The Accounts in Protest?
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Bank of America's Response to the Outage
Bank of America said Friday that problems with its website are not related to any online breaches or attacks.
The $2.36 trillion bank posted a message on its homepage, saying simply that the site was temporary unavailable.
Tara Burke, a spokeswoman for BofA, says "some" BofA customers reported having trouble accessing their online banking accounts. But "a majority of our customers can bank online."
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Disclaimer: Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice. For legal advice see an attorney. For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.
Frederick Griffin, Licensed Real Estate Broker Tallahassee, Florida 850-339-4861
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I think that the new credit card fees had a lot to do with it. They get you coming or going.
Hey Fred, will this change in the monthly debit fee affect all Bank of America debit cardholders? I actually like their small business services and hope they don't mess with its debit cardholders. Thanks for the post! I'll need to do some research myself. I did see the 'damage control' message and thought it odd not being able to login.
I only have a credit card with them, but if they start charging me an extra fee...I'm going to cancel my account. I don't care about the credit hit.
Hi, Michelle. "Anonymous" is gaining more support, as they go after Big Banks and Big Government. But, that is another Blog!
Larry, this is a direct response to the Dodd-Frank Act. Congress decides to "limit" the Fees that Banks can charge in one area, so the Banks just go elsewhere to make up the loss.
Jordon, my wife and I have Accounts at most Major Banks, including B of A. The best Article/Explanation I can find on this topic is at Reuters.
Debbie, my wife and I travel a lot. It is convenient to have Accounts at the major Banks, including B of A. But if they try to Max out on Fees, I will close the Account.
I like my BofA account even if I don't like the bank. I suspect I may not like them enough to remain if they charge me for the debit card. The credit union is free but their online banking isn't nearly as convenient.
Marge, that is the challenge.
B of A, and Wells Fargo and Chase and Citi, have incredible Online Banking. Plus, they have ATM's all over the country.
The Credit Union may have better rates, no Fees, no Minimum Balance, etc. - but they cannot match the Level of Service provided by the Big Banks.
Fred, My bank started this too. I'm going to shop around for a bank that doesn't charge the fee. I hate it because I've been with the same bank for 10 years, but I don't think I should have to pay fees to access my money. But then, I also REALLY dislike banks, and especially the big ones. I think anonymous is awesome. Cyber warfare is the only way you fight institutions that have more money than god.
It is not that some randomly began to hate Bank of America - it is ALL the unscrupulous practices the bank has in place to screw the public.
Congratulations - This post is now featured in Silent Majority Group of Active Rain!
Fred, I heard about the website issues but hadn't seen this info. Interesting. I don't bank with them but if I did (or if my bank did the same thing) it would absolutely change how I pay for things.
Well everyone knows that Bank of America IS America's FAVORITE Bank to HATE! :OD
Virginia, my friend was preaching USAA Banking to me today. He explained that they have Free Checking and No Debit Fees.
Nick, you probably saw where Protesters were arrested at a B of A protest in Boston yesterday.
Diane, other Banks (Wells Fargo, J.P. Morgan, etc.) are planning to follow suit.
Joni, that is definitely their Slogan!
Like several said here, the others will do the same. Honestly, I could slam B of A as well, but they, Wells, Chase, etc, are all the same criminals, so until the average person really stands up to them, this kind of stealing will continue, along with the fraudulent thefts of homes in FRAUDclosures.
Fred - Cash is King ..... perhaps we will not see the end of cash transactions as predicted by many ..... this could be a very good thing for many who would realize how fast they have been emptying their pockets a few dollars at a time.
My credit union is checking is free no matter what your balance is. They started charging the $5 for debt card use. So I guess the clearing banks they go through are passing the buck down to the little guy. I like my bank and will continue to stay there $5 or not. It is the best thing out here for a bank as far as I am concerned.
As far as BOA they can suck an egg and if someone hacked them too bad!