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Cell phone carriers, big banks, and bowel movement reports
Old 12-08-2010, 07:49 PM   #1
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Cell phone carriers, big banks, and bowel movement reports

Today, I went online to make a transfer from my credit union account into an account at a too-big-to-fail bank. Previously, I never had any trouble performing this transfer using these same two banks. But now, “for my safety,” I am required use a transaction 6 digit code which is only available through two methods. Either I must enable text messaging with my cell phone carrier to receive the code, or make a one time purchase of a card which generates a once per use code with a push of a button.

Either method will cost me money. The code-generating card costs $20. I had previously discontinued text capability with my carrier because earlier this year, I suddenly became victim of an onslaught of unsolicited commercial text messages which were charged to my cell phone account.

Per AT&T, the only way to avoid the text charges is to not have the capability. (They did, however, refund the text charges for the previous couple of months.) On Bank of America’s end, they were terribly sorry but only mobile phone texting, (which generates charges to my account,) or the pay-for-it card were available to enable a code for the account transfers. “Couldn’t you send me an email?” “No way, kid, go away, you bother us.”

I ending up physically depositing a hand written credit union check into my B of A account. I had to put on shoes and everything.

My wife and I don’t text, don’t tweet, don’t see much use in any of it. We don’t have kids, and our mothers are in their 90’s. We communicate in person, by phone or email. Those too tiny, phone button generated, vowel-starved, abbreviated daily bowel movement updates seem damned silly.
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Old 12-08-2010, 07:54 PM   #2
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My sympathy! I haven't run into this problem yet but I also disabled texting for the same reason. I could not get rid of the text spam.
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Old 12-08-2010, 07:58 PM   #3
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Take some comfort in knowing that having to handle the physical hand-written check cost them more than the online transaction would have, and you didn't have to pay extra to do it.
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Old 12-08-2010, 08:04 PM   #4
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If you close the BofA acct you won't have a need to drive over and manually deposit money in the BofA acct. I'm just sayin.

BofA bought the bank that bought my bank that bought my bank so we have an acct there too. We have a real nice branch mgr and two other helpful friendly staff. My acct is still free and I'm jumping through a few hoops to keep it that way, but I have moved all my bill paying/auto payments to other banks and CU accts in anticipation of the day when they finally roll out a snare too complicated for me to avoid their fees or the day these last three good staff members leave whichever comes first.
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Old 12-08-2010, 08:04 PM   #5
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Hmmm, looking for a new bank maybe.
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Old 12-08-2010, 08:32 PM   #6
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Great post Elderdude! I sympathize and agree with you on this. In my opinion you are being influenced to move banks so I would do it as soon as I could. Maybe you could change to a local bank in town where they appreciate your business or maybe a credit union. I wouldn't put up with that kind of treatment. Good luck.
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Old 12-08-2010, 09:16 PM   #7
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My sympathy! I haven't run into this problem yet but I also disabled texting for the same reason. I could not get rid of the text spam.
Me, too. Also, who would I send text messages to? And why? Nobody I know would text me instead of calling me. I am just in the wrong generation for texting.

The other day I noticed a sign on an apartment building nearby, that said

"$550/month - - text apartmentonmainstreet for details" (a different street, though). Guess they aren't very interested in tenants in my age group.

Back to the original post - - if it was me, I'd just cough up the $20 for the code generator and forget about it. It's annoying but that should take care of the problem and it's not a recurring fee.
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Old 12-09-2010, 07:21 AM   #8
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I haven't experienced this yet but I am not surprised it is happening. Thieves are getting more sophisticated and financial institutions are going to experiment with new methods to combat them.
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Old 12-09-2010, 08:26 AM   #9
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I would go to BofA and ask to speak to the branch manager. Tell them the problem and ask if there was any solution other than paying the $20 for the card. Let him/her know that you will close your account before you pay that charge. You will most likely end up closing the account, but it might work.
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Old 12-10-2010, 01:54 AM   #10
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Quote:
Originally Posted by Elderdude View Post
Today, I went online to make a transfer from my credit union account into an account at a too-big-to-fail bank. Previously, I never had any trouble performing this transfer using these same two banks. But now, “for my safety,” I am required use a transaction 6 digit code which is only available through two methods. Either I must enable text messaging with my cell phone carrier to receive the code, or make a one time purchase of a card which generates a once per use code with a push of a button.

Either method will cost me money. The code-generating card costs $20. I had previously discontinued text capability with my carrier because earlier this year, I suddenly became victim of an onslaught of unsolicited commercial text messages which were charged to my cell phone account.

Per AT&T, the only way to avoid the text charges is to not have the capability. (They did, however, refund the text charges for the previous couple of months.) On Bank of America’s end, they were terribly sorry but only mobile phone texting, (which generates charges to my account,) or the pay-for-it card were available to enable a code for the account transfers. “Couldn’t you send me an email?” “No way, kid, go away, you bother us.”

I ending up physically depositing a hand written credit union check into my B of A account. I had to put on shoes and everything.

My wife and I don’t text, don’t tweet, don’t see much use in any of it. We don’t have kids, and our mothers are in their 90’s. We communicate in person, by phone or email. Those too tiny, phone button generated, vowel-starved, abbreviated daily bowel movement updates seem damned silly.
You really should ditch that TBTF bank, IMHO.
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Old 12-10-2010, 05:36 AM   #11
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I wonder how much BoA will charge to close an account.
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Old 12-10-2010, 10:14 AM   #12
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Since I currently have a work around for this rare inter-bank transaction, I probably will not drop the account at this time. The hassle of changing banks, after over 40 years of with B of A, then rerouting all my e-bills, finding ATM solutions, etc., and updating my financial software, makes it more hassle than I am willing to put myself through for the “principle of the thing.” As much as I’d like to “stick it to the man,” I think I’d end up the “stuckee.”

When I talk to bank and cell carrier folks on the phone, they all sound too young to understand why I don't feel the need to text. My reluctance to incur charges for advertisements from whereever, at the cost of loss of texting, seems somewhat antisocial, possibly psycho-pathic to them.

Where’s my BANKIE, Mom?
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Old 12-10-2010, 08:41 PM   #13
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seems somewhat antisocial, possibly psycho-pathic to them.

Where’s my BANKIE, Mom?
Everything IS going to be okay.
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Old 12-12-2010, 07:58 PM   #14
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For the OP or anyone who seriously wants to end their relationship with a MegaBank, try this site: Move Your Money Click on the Find a Bank/Credit Union link at the top of the page and enter your Zipcode.

From their "About" page...The Move Your Money project is a nonprofit campaign that encourages individuals and institutions to divest from the nation’s largest Wall Street banks and move to local financial institutions.

I gave Wells Fargo the boot at the beginning of the year and it made me feel like I had done SOMETHING to cut them down to size.
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Old 12-14-2010, 07:47 PM   #15
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For the OP or anyone who seriously wants to end their relationship with a MegaBank, try this site: Move Your Money Click on the Find a Bank/Credit Union link at the top of the page and enter your Zipcode.

From their "About" page...The Move Your Money project is a nonprofit campaign that encourages individuals and institutions to divest from the nation’s largest Wall Street banks and move to local financial institutions.

I gave Wells Fargo the boot at the beginning of the year and it made me feel like I had done SOMETHING to cut them down to size.
I agree with what you say. I call it "voting with my money". It might not create much change but it makes me feel good anyway.
That goes for restaurants, banks, and other businesses that **ss you off.
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