American Express: Should be called "American Extreme Mess"

I was trying to find out the amount of the recent late payment charge and finance charge hikes that Amex hit my account with due to Bank of America's erroneous cancellation of all of my ebills and automated payments. So I logged onto the Amex site and got a message that there was still $10 due - I clicked on the prominent "pay here" link, and this is the page I got: (click image to see full size version)

So on the same page, they are saying the account is cancelled and there is an outstanding balance, but on the very next line it says "there is no balance due on this account at this time".

So do I pay or not?

To make things worse, I clicked on the "contact us" link and was given an option to send them an email, however when I clicked "compose", I got a message stating:

We're Sorry

At this moment, we are experiencing technical difficulties accessing the Secure Message Center. This issue is being addressed and will be resolved very soon.

Until then, please try these options:

(1) click on one of the navigational tabs on the top (sometimes this resolves the problem)

They can't run a website - how do they expect to run a complicated financial services company?

Now it's not like I just made a payment and they haven't had a chance to update it yet - I paid off the total amount due many days ago, at which time I also cancelled my account because I got a notice saying they were raising my interest rate to 29.9%, which should be illegal. 

I never carry a balance, but what if I were to get sick and Bank of America screwed up again and cancelled all my payments? Now I'd be paying that $29.9% rate! That made me so mad I told them to cancel my account and to make SURE they put it down on the record as me having cancelled, not them cancelling me.

DNA Testing, I Guess It's a Waste of Time and Money

I had been considering having my DNA tested to see what I could uncover about my family tree until I read this article on the bogus factors of DNA testing for genealogical purposes. My grandfather was a draft dodger in Russia and that's how he wound up in the US, my grandmother was born in Austria but is from a Ukrainian family. She was sent over here on a boat when she was 16, in 1914. They met and got married in Boston. Then their youngest daughter (my mother) met my father, who comes from a working class Irish family that had been living in Boston for many generations.

If I were to do a DNA test, it would probably show a background that contained Eastern European and Irish. Since I already know that...I've decided not to throw money away to one of these scammy hyped up DNA testing companies. I'd rather blow that money at the poker table!

Bank of America, How Can You Screw Me So Royally?

So I went into my local Bank of America office yesterday. I had opened a new business account and needed to sign the paperwork in person. I sat down with the rep and signed everything and watched as she set up my online access, etc. I then went ahead an deposited several thousand dollars in checks into that new account using the ATM and the card for my new business account.

I logged in from home later that day and saw that everything was there - I could see my new account from my main Bank of America login, along with my other existing business and personal accounts.

Today, I logged in and guess what? My new account was missing. So I called Bank of America small business customer support. I entered my new account number into their automated system (which you must do before you can get to a live person). The system did not recognize my new account number. Finally got through by entering my bank card number. I told the rep what was going on, and spent about 15 minutes total waiting for him to try to get my account to show up. He could not, something about the system that does the account linking wouldn't work right. He tried to get a "team member" or whatever happy-happy name they have to use when referring to their fellow workers. After waiting on hold another 5 minutes, it turns out the other guy couldn't do it either.

At that point he placed the blame on the banking center rep who opened the account for me. He said they couldn't give me access to my account because there was no signature card on file. Ok...so why did I go into the banking center yesterday to sign all the paperwork? Seems like the banking center rep didn't complete the process. She didn't do whatever it is that she has to do to upload my signature card to the mother ship.

And of course, bankers do not work past 4pm, max (it's now getting close to 5). So now have to follow up and call the local banking center tomorrow. I feel like a babysitter - I have to call to remind this person to complete her job so that I can access my money.

I know I am wasting even more time by making this post, but I want to share my frustration with others...and I have this odd, far-fetched idea that someone from BofA will actually read this and do something about their broken system. I know, it's nuts.

I'd switch to another bank, but BofA has me hostage with all my online payees - I can't even contemplate setting all of that up again with a different bank. Not to mention the fact that any other bank is probably just as screwed up as Bank of America.

Fidelity.com Broken All Day

I've been trying to get cost basis info from my Fidelity Account all day - there's a whole bunch of "n/a"s in that column for all my holdings. I just got off the phone with a fidelity rep who confirmed it's been down all day. What do I do when they start showing n/a's for other things like my balances??? Rep said it "should" be back tomorrow. Time to switck brokers?

Bank of America, You Are Screwed Up

So I went to open a new business account on BofA, and guess what? They are offering "%" as an introductory APY, how great is that???

Oh, and guess what businesses you can't be in, in order to open an account online:

• Telemarketing
• Precious metal dealers
• Casinos / Gambling
• Government entity

Maybe they should add "Banking" to that list - oh right, Bank of America is already in the Gambling business.

CVS, Stop Tracking Me

It's always bothered me that CVS requires you to show your CVS card when making a purchase - if you want the "sale" price. I used to be able to tell them I didn't have my card on me and they'd swipe the store card. Apparently that policy has changed, and they are now insisting that you use your own card.

Yesterday, I had a bunch of sale items and wanted the sale prices. I tried to get them to use the store card, but no dice. So I told them I'd take a new card. They gave me the card, swiped it, then told me to return the application once I'd filled it out. Fat chance! I asked the clerks how long they thought the card would keep working if I never gave them my tracking data. They didn't know - I don't think they'd ever thought of that. I must be the only customer who doesn't like being tracked. Everyone else hands over their card (their personal data) every time they buy something. It's all going into one big tracking database that their marketing department uses for all kind of analysis.

I have an aversion to being tracked by CVS because I don't like the way they advertise sale prices all over the store, then don't let you actually buy the stuff at those prices unless you hand over your personal data. I know a lot of grocery stores do this too, but so far I've always been able to get away with asking them to swipe the store card for me. CVS, you are evil!

France; Learning Bank and Credit Card Fees Before Leaving Home

In preparing for a trip to Paris, I thought "how nice would it be to KNOW what I'd be charged for using my ATM card and credit cards ahead of time"? I've never looked into it before traveling abroad but this time I'm being much more responsible about it. Here's what I've found so far. I'm still waiting to hear back from Chase Visa, and I think I'll ask ING too.

Bank of America Says:

If you use your ATM card at a BNP Paribas ATM in France you will not be charged an access fee as it is a Global ATM Alliance bank. For your reference, while traveling outside the United States, you can avoid the access fee by using an ATM at the following banks in these locations:

- Barclays - United Kingdom
- BNP Paribas - France
- China Construction Bank - China
- Deutsche Bank ? Germany
- Santander Serfin - Mexico
- Scotiabank - Canada
- Westpac - Australia and New Zealand

Their current exchange rate for the Euro is $1.5339, and the current market rate is 1.450, according to xe.com. That means they are charging a 5.5% premium just for the privilege of exchanging currency at their bank. Seems high to me.

Bank of America Currency Exchange Rates


American Express Says:

I would like to inform you that we apply a currency conversion fee if you use your Card in some other country. We use the exchange rate of the day a charge is processed (plus a 2.7% fee assessed after the conversion rate is applied), not the rate of the day a charge is incurred.

Most charges are converted to billing currency using Interbank rates as reported by the Reuters information system. Foreign exchange rates not available on Reuters are established by contacting local banks or by referring to published Interbank, official or tourist rates.

All other foreign exchange rates are reported to us by local paying agents and are generally commercial bank rates, or the "Official Rate" where required by law. If the Reuters system is used, there is a cut off everyday at noon (Eastern Standard Time) for the daily rates.

I would suggest you to access the following link to make the conversion using the Interbank rate. However, it should only be used as a guide, as rates are subject to change.

http://www.oanda.com/convert/classic?user=americanexpress

Is there some kind of underground exchanage system that us little guys could use? Maybe find a friend in France and get him to send Euros in exchange for Dollars, at the current REAL exchange rate instead of the Bank of America rip-off rate?