Bofaml Sucks Customer Reviews and Feedback
The Bank of America Corporation simply referred to as Bank of America, often abbreviated as BofA is an American multinational investment bank and financial services holding company headquartered in Charlotte, North Carolina, with central hubs in New York City, London, Hong Kong, Dallas, and Toronto. Founded in San Francisco, Bank of America was formed through NationsBank's acquisition of BankAmerica in 1998. It is the second-largest banking institution in the United States, after JPMorgan Chase, and the eighth largest bank in the world. Bank of America is one of the Big Four banking institutions of the United States. it services approximately 10.73% of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking.
In September 2019, a Wack Staff Writer commented about CFPB's investigation of Bank of America for fake accounts:“BofA acknowledged to the CFPB that before March 2017, it did not require customers who opened accounts in its branches to provide signatures that could have served as clear evidence of the customers’ intent.In one of the newly posted documents, a lawyer for Bank of America acknowledged that the bank found specific instances of what he called "potentially unauthorized credit card accounts," though he added that the number of such accounts that had been identified as "vanishingly small. The CFPB is looking into whether phony accounts were opened in violation of various federal laws and regulations, including the Fair Credit Reporting Act and the Dodd-Frank Act’s ban on unfair or abusive practices."
Home Service Specialist I (Former Employee) says"My co workers were very supportive and helpful, but the managers and supervisor for the home specialist department were very rude and unprofessional. They never provided the support for the loan processing team. They never created a welcoming working environment. I highly do not recommend working for the home specialist loan processing department. Also most of the holidays for time off have been taken, so will mostly take time off on a random day.Co workersManagement"
Relationship Manager (Current Employee) says"The company itself provide a lot benefit however the manger I work for it horrible. Favoritisms is everywhere. If you aren’t their favorite you can’t work NoneManger is not support"
Credit Card Customer Service Representative (Former Employee) says"Hostile work environment. Both poor management , untrusting co-workers ,being pitted against each other. Upper Management was unapproachable. Qualified Managers were let go for a variety of reasons: downsizing , smaller teams ,( people were jumping ship ) These were good , productive Managers , and were let go , keeping the less qualified people in charge.Part time availableBullying is allowed."
Realship banker (Former Employee) says"This is a very poor management bank , even interview was joke , if you overqulified they still ask you stupit questions , not even apply, they very unporofesional , very poor"
Customer Service Representative I (Former Employee) says"It didn’t start off all that bad, but it makes it really hard to succeed with a company when they tell you bits and pieces, or if you have a manager that doesn’t know anything about the department. How are you in a management position, tell one of your employees they are doing something wrong, but then say you don’t know what something it is? Or if you have a manager that you can’t ask questions an about the job itself because they never know the answers.Benefits were goodManagers and don’t manage well"
Customer Service Representative (Former Employee) says"Felt it was a toxic environment was going to work in fear each day. Couldn't ask for help was not given all info wrote me up in training for making a mistake the first week on the floor . Fear to make a mistake fear to ask a question very hateful supervisors."
Operational Risk & Compliance Audit Intern (Former Employee) says"The typical day to day at Bank of America was to listen and follow instructions, especially with being an intern. As interns, we had to observe the 10 weeks we were there and make a PowerPoint to present to top leaders."
Customer Service Representative (Former Employee) says"It’s bad...They’re rude racist people and they play with y’all money sometimes they take y’all money too. That’s all I have to say about the job they play with y’all checks and everything There no pros about that jobOr cons about it either"
Operations Specialist (Current Employee) says"Do yourself a favor & look else where. They are not as good as you would think. Older employees/associates can be rude and non-suportive. Also, the training you receive does not cover everything that will need to be done as far as work tasks. Too little training, too much is asked of the employees. Straight garbageI guess it is a jobPeople here are garbage"
Bankruptcy Specialist (Former Employee) says"Bankruptcy department was the worst. you had two of the worst managers.one was a bigot/racist robbin, the other was a pathological liar that used his homosexuality to his advantage as he chuck his lies to cover himself and through you under the busNonStressful poor compensation"
Retail Service Agent (Current Employee) says"I barely got training I was put on my own at first with equipment then later they transfer me to deposits where I was completely lost and I hated the trainee wasn’t very clear on instructions. Then u go thru 6 weeks training and production where I never worked at a bank before so how am I supposed to learn the ins n odds of Bank of America in little time and the pay sucks Three breaksShort breaks, difficult and not prompt"
Banker (Former Employee) says"Managers play favorites. Suppose to work 2 Saturdays a month, some employees work none while i worked 6 in a row, lucky if I had one Saturday a month off. Managers only cared about getting their bonus, Mangers don't want to deal with problem employees. Manager told me "let her do what she wants even if against policy, it makes my life easier." Tried to write me up for "to nice to customerNoneEverything"
Recruiter (Former Employee) says"This was not a good place to work. The company does not care about the employees. The pay does not reflect the work the employees do. Not recommended"
Preferred Relationship Specialist (Former Employee) says"Your basically paid to promote top two box. This means that your expected two get 9 or 10s on every call. They have incentive to reach your goals. However if you get one bad call you can miss out on all your hard work. You can't move on unless your ideal. YoirMoney was about $15.00 to start.Repetitive calls... Long hours.. feeling dehumanized at the end of the day."
Collections Specialist (Former Employee) says"You can work as a temp for a year and they won't hire you permanent. They feel threatened by you if you have a degree and previous management experience. Every end of the month is food day and temps are not allowed to eat until permanent people eat first then you get the scrapes. They do care about the temps even if they work hard and has no attendance issue. I would never recommend Bank of America to anyone to work or do business with. Worst company I every work for in my life and I am 55 yrs old."
Vault Clerk (Former Employee) says"They only hire as needed to complete both short and long projects. That's it. No chance of retaining as a permanent employee. Only use people and let them go once the project is finished. The pay was below ridiculously low, it was laughable. Lots of favoritism. The favored employees will get away with anything. I will not recommend this place to anyone else, unless they want to work like a slave for peanuts."
Customer Service Representative (Current Employee) says"They don’t work with all of the employees regardless of performance. I would not recommend anyone to work here, the only thing about recommending is that they offer a bonusBenefitsHostile"
Relationship Banker (Current Employee) says"Made a life decision based on information I was given by the company, to find out it was misinformation and now I have no means of providing for my 5 children during a pandemic. All I got was an apology."
Operations Analyst (Former Employee) says"I worked at BAML for nearly 7 years initially when everything moved down from London it was pretty good. Lots of work lots of new challenges and some great opportunities. Unfortunately as it grew it stagnated and became slow and dreary. For a multi billion dollar company they are so stuck in their ways. They waste hours every day across every department using outdated policies and procedures and making every task take considerably longer than is needed. The atmosphere is awful as well People are expected to spend their lives their but in return do not get rewarded fairly at the end of the year. A considerable number employees will not see a pay rise or bonus for years on end. There is a huge number of staff there who are legacy MBNA and the only reason they stay there is because their redundancy packages would be so good. The upper management structure is awful. They have the same Directors for year on end. They tend to be very much " at their level" most of them have no hope of getting any higher and promotion chances for those underneath them are terrible, People spend years and years trying to get promoted and its mostly entirely at directors discretion. I witnessed people who would get promoted at the drop of a hat because they were in the office for 12 - 13 hours a day but when you looked at their actual output it was very little and people that were there 6 or 7 hours a day were actually working significantly harder. The senior managers very much have their favourites and unless you are in that category you will be largely ignored. One team when I was there went"
Teller Operations Supervisor (Former Employee) says"Money hungry organization. Pays very little to their employees. To boa , you are jus a number, do not care about their employees. They give you so much responsibility and very little pay. Ifycurrently working there"
Dr. Me PhD, CPA, CMT, CFA, MD, JD says"RT @apbeaton: @BankofAmerica @BofAML chart highlighting the obvious some mean reversion trades—#Financials and #Energy have been hammered…"
Dr. Me PhD, CPA, CMT, CFA, MD, JD says"@BankofAmerica @BofAML chart highlighting the obvious some mean reversion trades—#Financials and #Energy have been… https://t.co/qrEkbcGVtu"
Dr. Me PhD, CPA, CMT, CFA, MD, JD says"RT @apbeaton: @BankofAmerica @BofAML chart on the Regional Equity Market Performances by year since 2000 https://t.co/8L3on0U0CG"
Dr. Me PhD, CPA, CMT, CFA, MD, JD says"RT @apbeaton: @BankofAmerica @BofAML chart showing the Cross Asset Performances in Returns since 2000. Data through 9/1/2020 https://t.co/m…"
In The News
IR Magazine reports"Investors display 'extreme' pessimism amid recession fears"
Bloomberg reports"BofAML Says Even the Options Market 'Too Tired' to Price Risks"
Moneycontrol reports"Fund managers worried, think recession may be imminent: BofAML FMS survey"
Business Standard reports"Global fund managers stay bearish on equities; recession top worry: BofAML"