BofA BBR and Savings

QuestionsBofA BBR and Savings
asked 2 years ago

Forgive me if this isn’t exactly about the credit card but I’m done with BOA Savings.  With my BBR card you get a $ 5 bonus if take the bonus as a deposit into a BOA account instead of an account credit.  So I setup a savings account, which requires minimum $ 300 balance to avoid the monthly maintenance fee.  I added a few external accounts so that I could transfer the $ 30 bonus out of the account when it posted quarterly.

 

Today my first bonus came in (cha-ching $ 30) and I login to the BOA website to transfer the $ 30 to my USAA checking.  Annnnnnd it says there is a $ 3 fee.  Serioiusly? This isn’t for a wire just for an outgoing ACH transfer you have to pay a fee.  I know I could go into USAA and add the account on that end and just pull the money out but I was so sickened by their business practices I just closed the account and had a check sent to me for the $ 330.

 

So I’m losing $ 19/year ($ 20 loss on bonus, $ 3 gain on interest earned on the $ 300 with it going to 1% savings, $ 2 loss on opportunity cost for rewards now that I have to put $ 100 additional general spend through the BBR each year)

 

A loss on my end and maybe stupid but I just get so outraged on how some of these big banks treat their checking/savings customers that I can’t stomach having an account with them.

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