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Bank Of America Site Down For Third Day In A Row
Well this is starting to get a tad disturbing. When BofA gets its site up, it would be very helpful if it could please notify its clients how much of the $1 trillion in deposits as of June 30, 2011 it has left as of end of close today?
h/t @rbgran
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Mr Obuma.............TEAR DOWN THIS BANK..............
BAC at $5.32 now. '-)
How low can it go???
$0.0000000000000000000000000000000000000000
=0/1
For the record, they are still processing checks. My grocery store must bank there.
<kramer voice>"why don't you just tell me how much money you want?"</kramer voice>
Try calling 555-FILK
Is this a bank holiday?
BoA will be saved with freshly created $$$, which will be very much wanted. No Armageddon.
For those that still don't get it, this is clearly the sign of classical bank run in the digital age. Three years ago, the same pattern took place for those banks that went under before the FDIC took them over. The next thing is gonna happen is they will limit daily cash withdrawl amount to no more than 1000 bucks.
They have limited the amount you can withdraw, I found that out when I closed my bank account.
Speaking of FDIC failures - http://www.calculatorplus.com/savings/advice_failed_banks.html
Funny that Zero Hedge rags on another site for being down. As if ZH never goes down or runs slow...
ZH is not a financial institution, and I don't recall the last time ZH was down for more than 24 hours.
Yeah I forgot ZH had a trillion $ in deposits.
So what? Their site's down. Big fucking deal.
Obviously the whole economy is a ponzi, the entitlements are insane, and politicians are out of control,but is it really a big deal that their site is down or slow? You can still withdraw your money, as far as I know their ATMs still work, etc. People here tend to blow things out of proportion, just like CNBC blows everything out of proportion on the other side. Get a grip.
Right. I'm blowing things out of proportion by stating a simple fact. The fact of the matter is you can't compare ZH to a financial institution that gets multiple times the amount of hits even if you can go down to the local branch. Seems like you're the one blowing things out of proportion...and I'm the one that needs to get a grip?
Yeah, because I'm sure no-one used bill pay, or checks their balance online, or makes online transfers.
If I couldn't access my bank account for three days, I would move to another bank. Period. And that is the point. What happens when a significant percentage of customers, tired of the inconvenience, pull their deposits and go to another bank?
What do you think the consequences of them suddenly losing a half trillion in deposits will be?
But then, you are a troll, so you don't think, or if you do, you don't let that have an effect on your message.
Yes, BAC will lose half their deposits because of this. Are you high?
Are you stupid?
That was a rhetorical question, as I know that you are too stupid to realize that, IF you even know what the word "rhetorical" means.
No, but I am. And you are just stoopid. Go back to troll school.
Now Now Tmosley, its not his fault he isn't aware that his employer, HBGary, has their paycheck account at BOA. He'll figure it out when they fail to pay him for his trolling.
you clearly dont belong here. get out.
Forgot ZH was the fucking BANK.... OF.... AMERICA....!!!!
(pardon my language)
What are the chances that BAC will waive late fees on those trying to make their credit card payment?
No chance. I even heard at the local branch today that they plan to "enhance" the fee structure to add a transaction fee for anyone who pays their monthly mortgage payment!
They already have a series of fees associated with mortgage payoffs, so this doesn't surprise me.
I'm guessing somewhere between slim and none.
I did just manage to log in with no latency.
Not a BAC apoligist, but they did roll out a new website last week.
Although, having worked there in the past on the online banking systems, I'm shocked they are still having problems.
Maybe its not an IT problem, but that the til is alittle short. oops.
When you open an empty wallet, you just have to say "shucks"
Was just able to login, after clicking through the "continue to online banking" link. Probably they put that up hoping that people won't actually read it and click through.
This has got to be a mini bank run. Many people have online only accounts that charge them $8.95 to see a teller. Looks like the $5 debit card fee pissed them off and they are now attempting to move money.
A story from yesterday citing a BAC rep said they were adjusting to "volumes" without admitting online volumes have increased.
Anyone hear anything from BAC employees? Others?
Went to use my BAC ATM this afternoon and all it did was shoot skittles out of the cash drawer at me!! There loading the machines with candy for Christs sake! How desperate of an attempt is this? Although I recieved $400 dollars worth of a tasty rainbow colored candy, I still went in and complained!
I saw yesterday, BAC employees hitting Escape key frantically.
Cue oompa-loompas hauling bags and bags of fiat into BACs vault.
Where the strawberries taste like strawberries, the raspberries taste like raspberries, and the snozzberries taste like snozzberries! Oompa Loompa, doompity do, I've got a perfect puzzle for you...
http://www.youtube.com/watch?v=yASphLAhuGg
Site works for me.
I ignored the message and went in anyway and the performance isn't bad at all. Is this a ploy to keep people off the system and avoid withdrawals?
I went by Merrill Lynch today and the view was very, very gloomy and sullen as well.
put in a transfer yesterday online to move most of my money to schwab.
During lunch in downtown Cincinnati today, saw a "worker" in the lobby taking a BAC ATM machine apart (was he fixing it, adding cash or taking it down?) That's the question. Will walk past at 5:30 and find out.
stateside
There are people that still keep their money in the bank?!?!?!
Really?!?!?!
WOW!!!
Amazing stuff
hello, this is bank of america, my name peggy...
If you have an account at Bank of America you are a dipshit.
Additionally comforting is that the main stream media is all over this story as well...
Mister America, tear this bankster wall down!
http://latimesblogs.latimes.com/money_co/2011/10/federal-reserve-ben-bernanke.html
Well, isn't this just normal! A few weeks ago Bernanke tells Congress that they must act to reign in spending and now he tells them not to make cuts. In and of itself, this should tell you what type of spending is propping up GDP (so that it is not negative).
Just signed on and paid a few bills. All is well.
I was actually able to get in..just clicked "continue to online banking"
404: Money Not Found
My bank is a hole in the ground, right next to my ammo,gold and silver.
For those of you that store your physical gold and silver or cash at any bank safe-deposit boxes, this is your warning shot. Remove them ASAP from those banks. You will thank youself later for having done the prudent thing. What happened to those bank safe-deposit boxes in 1930s will happen again before your own eyes, I am afraid.
This isn't a run. This is the plan as announced by the CEO.
http://www.bloomberg.com/news/2011-09-12/bofa-to-slash-30-000-jobs-in-fi...
The way you cut 30,000 jobs is to get rid of 1,000,000 small-potatoes customers. You do that by threatening a $5/month fee and crippling your own servers. Meanwhile you call all the big fish to assure them you're just weeding out the little guys.
What is wrong with their site? Are IT guys fleeing the company?
Would it be awkward for me to say that this sort of thing happened on the run up to the collapse of IceSave?
A really telling thing would be for someone to attempt to open a new savings account with BOA, only for a letter to come back saying that the application form had not been "signed" and that the account could not be opened (happened to a colleague of mine two months before the Icesave collapse proper).
Big Fat Bonus Checks waiting for these execs too I suspect....after all, it's hard to retain the best talent.
lol.
No commentary but my own experience:
Over the weekend, got this error, clicked the "proceed anyway" button. Did a lot of ctrl-clicking as i navigated. Suffered through a few timeouts, but largely the site was functional. I was able to create a new outside-the-bank account to pay monies to, subscribed to the safepass thing to remove xfer limts, and transfer out about 5 grand. (Not near an account-wipe.) I also was able to get chat support while doing this, although the response was a bit more sluggish that normal; pseudo-human on the remote end seemed overwhelmed, believe "Tina" was juggling windows.
Wire transfer went through as advertised at start of business on Monday. Also did several routine billpays no problem.
Your mileage may vary, but I was able to get business conducted albeit with a number of annoying timeouts. Seemed like once I got into the critical workflows there were no more timeouts though, it was mostly navigating into those workflows.
I have some kind of "platinum" status, maybe they put me on the fast server, I don't know. I believe "platinum" is actually a code for "chump who leaves their money in the bank." Oops, that bordered on commentary, and I said I'd stick to facts, sorry.
Not trying to give bad ideas to bad guys, but this would be a good time for a phishing email along the lines,
"We apologyze for the inconvenience for our valued online customers....blah,blah,blah
Please complete your account information below and log in to our secure site so we can expedite your transactions"
BofA.somewhereinRussia.com
good thinking
Peggy?
http://www.marketwatch.com/story/bank-of-america-citi-weigh-on-financials-2011-10-04
"He [= Bernanke] also said the Fed could start a new lending program to be a lender of last resort to the U.S. banking system should there be a bank run if the European sovereign-debt crisis worsens."
Told.you.sooooooooooooooooooo! You'll never get rid of this tumor. No collapse. Etc. You know it.
?
Most people who have a tumor that can't be gotten rid of collapse. When said tumor is metastasisizing like this one, it tends to be sooner rather than later.
You only avoid collapse by removing the tumor. So long as you cling to it, things will only get worse.
I was a WaMu customer, very happy with them and had no problems, on that rare occasion when there was some issue the staff was always very helpful, any NSF fees and such were used sparingly for chronic abusers but not for people who had their accounts submarined by other entities, like the time Wachovia took out an auto payment a day early and over drafted my account. The people at WaMu bent over backward to clear it up and they did not charge me the fees.
Then on Memorial weekend of 2009 I decided to get out into the fresh spring air for some camping up by Crater Lake, a few days later when I returned I went to the online banker to make my June 1 (I get paid once a month on the first) bill payments but the web page said sorry site temporarily unavailable for the change over from WaMu to Chase. A few days later when the site was available again under the Chase logo I was horrified to see that more than $300 in NSF fees had come out of my account while the web page was down. I had paid my AllState auto insurance with my debit card before I went camping and my agent said if I signed up for automatic withdrawal from checking AllState gives me a 10% discount, so I agreed though I normally NEVER authorize any kind of automatic payment. Sure enough they took both the debit card payment in the office and then hit my account the next day for the auto pay while I was off camping, in the meantime I stopped at Starbucks, went to Wally world for a bottle of propane and briquettes, hit a little market in Shady Cove for something to grill, and paid for the campsite with debit.
When I saw what amounts to a disaster in my checking account I went in to the bank and the same people that really cared when it was WaMu now wore Chase uniforms, now they lied to me about the fee policy, I deposited $400 bucks to bring the account back to where it was supposed to be and to cover outstanding debits, but their system will only tell you what was charged in bank fees two days ago, not what is currently pending. So that $400 was eaten by the bank in fees and I was STILL overdrawn. I kept putting in money and it kept going to fees with the balance never getting back up to zero. I finally tracked down a manager in a satellite branch that was helpful and after only $918 dollars in fees for June 2009 I managed to get to zero and close the account. I also told Chase which carried my mortgage and a credit card with a limit of $2500 if they did not make good on that theft I would never pay another mortgage payment again. I mean it was not even me who did this, it was some kind of error by AllState. Chase essentially flipped me the bird. I never made another mortgage payment. I have been with a local credit union since and again I have gone years without any problems.
The moral of that story is that people are really sick of big banks milking them and flat out stealing from them, lies about fees and utter lack of concern or any compassion when a problem does come up. They steal from disabled vets, orphans, widows, anyone that is not wealthy because I assure you people with high net worth are NOT mistreated by their banks.
So I am surprised at the 100 or so comments above that do not take into account a few salient facts, for one that the first of the month fell on a weekend meaning all first of the month payments moved forward to an already busy day of the week, Friday. And then to complicate things earlier in the week the bank announced a new fee for using their debit card. Given how abused people feel by money center banks that fee announcement was no doubt the straw that broke many a camel's back.
Of course the bank is sick, but if it were a real run on the bank it would be happening to other banks as well and BAC is the only one having a problem (so far). It seems to me to be a case of OCCUPY WALL STREET anger being applied to BAC in real time.
No need to worry...until the professional shredding trucks move outside the corporate offices....then better worry....
I remember seeing them outside ENRON about the same time Skilling and Lay were telling Wall Street Gumbos analysts, "Everything is Dandy."
It's good to have a bank accound.
It's bad to have money on it.
Looks like business as usual as of 1pm at BofA branch here in suburban DC
When Dick says withdraw.... http://revolutionarypolitics.tv/video/viewVideo.php?video_id=16299
BofA puts are still looking attractive y'all!
http://aintmymedia.com/
God Bless
Otherwise, you may continue to Online Banking. We do apologize in advance if you experience any delay or difficulty accessing the site.
The site is not down. It may be slow and they may have the usual top index page turned off, but I have yet to be blocked out of the site. I just tried again and I got right in...all information was accessible.
This from my parents yesterday after I warned them about BoA:
*******************
Hi David
thanks for the warning. we will be taking the bulk of out BofA money
out tomorrow.
tell u more details over the phone.
I told my parents the same thing. Apparently, they thought I was being dramatic.
Oh, well. I was cut out of whatever inheritance they had anyway.
Guess you won't be wiping your ass with linen.
Take that any way you like.
Check BAC link below:
http://abcnews.go.com/blogs/politics/2011/10/durbin-to-bank-of-america-customers-get-the-heck-out-of-that-bank/
It's a dead link now... interesting.
For those with large amounts of cash they want to spread out among many banks try the CDARS program. One statement on multiple accounts under the FDIC limit. Banks will ding you a bit on your rates because they do have to pay a fee to CDARS.
I have no trouble bypassing that page and going where I want to go when I go to the BOA site.
But I wonder--All I have is a BOA Visa card, and all I ever go there for is to pay my balance down.
I wonder if people who have checking/savings, etc. accounts, who could withdraw run into obstacles.
Bernanke was asked today about lending programs for small businesses. He said they would need collateral (like the big banks really had good clean assets to borrow against?) and he said it would be too hard to do the due diligence and monitoring of so many businesses where it is much easier to do with a few big banks.
Maybe only the accounts they're losing money on are having trouble getting in.
It's lattes and biscotti for the rest of us. Yum.
Traditionalfunds....
Two months,two weeks,member.
His title smells like a fiat bankster.
FTB FCNBC
this is e-bankrun!!!
learn from that HFT desks!
This sounds awfully like a run on the bank. Yet no one is talking about it (except ZH of course). I have a feeling that by the time this fact becomes apparent to the rest of the world, BAC will be bone dry.
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