What is Bank of America up to?

[calmloki]

None of you have been asked for saliva samples?

 

[jazz4cash]

Agree with Mulligan, the PO BOX is likely the culprit.

 

[kgtest]

I get stuff like that from my car insurance company too, they want to know the mileage on the cars...I keep ignoring it. It's been 2+yrs and they haven't taken any action yet. Or my Chase bank wanting me to 'update your salary info' - umm no, I'm good.

I used to ignore them until they actually called me to try and sell me life insurance, and then also asked the mileage. I asked why and they said I was paying a higher rate without the data so I told them. I think this is how switching insurance companies might save some people money, as they get a better rate until the ins co realizes you drive more miles than avg etc.

Anyways as for BofA I was mad at them as well. First time customer, I setup autopay on the credit card but it didn't autopay. I had to login, and click send. What kind of auto is that if I need to login the day its supposed to be automatically sent, and click a button to send. The rep assured me this was only a first time auto pay function.

 

[Texas Proud]

I fixed that for you...because not everyone sees things the same way.

Not really.... the law is pretty strict and there are some big penalties if you do not follow it...

Since I did work at a bank and had to deal with this.... I would also say it is the opinion of the bank.... now, you might have a different opinion and a close account...

 

[Texas Proud]

Chase emailed me today asking to verify my income. What do they care as long as I pay my bill each month, and besides my income can be anything I want it to be. Well, not for long.

I have been asked this for a number of cards and have not answered this except for one... they popped up every time I logged in and sometimes during the session.... just answered and that stopped... nothing else...

 

[badatmath]

I think you can safely ignore the Chase "verify your income emails". I have been for several months and they didn't close my account. Seems so far to be a thing to fish out more info from you, which they will reward you for by increasing your credit line and hoping you spend more on their card. Ha. We are always auditing something new it seems like. (Not an accounting firm either) .

The B of A thing sounds more like an audit uncovered missing information. I work for a large employer (not a bank) that has a lot of regulations and audits and whatnot so its really not odd if I look at it from that perspective. (Not sure if we often ask customers for info but we certainly expect employees to provide alot. Why did you access that database, etc . . . . and employees in question have jobs that require them to do this - its not new)

There are a lot of automatic triggers reporting you to directors and such for things you may need to do to solve problems. Provided you can explain why you needed to do a thing, its not an issue.

 

[audreyh1]

Chase emailed me today asking to verify my income. What do they care as long as I pay my bill each month, and besides my income can be anything I want it to be. Well, not for long.

This is standard for credit cards. I’m asked about once a year when I log in, but that seems to be for Chase and Amex. In this scenario my income is whatever I report to the IRS, although I round it. They are looking for changes in your financial situation I suppose.

 

[Tadpole]

I also have had a continuing account with BoA (or predecessor) for 30 years or more. A couple of years ago they started a popup asking me to verify my SS number by unhiding it in a box. I went to the local branch and complained. They called somewhere and told them I wanted them to totally stop the login popups. They stopped until about 3 weeks ago when the verify your SS number one reappeared. (The idiots must want me to come to the branch to complain so they can try to sell some "Merrill Edge" to me for commissions.) It, otherwise, makes no sense to expose SS numbers or to check a SS number that is the basis of their issuance of services in the first place. They give me the FICO score so wouldn't I have noticed if something was wrong with their data? I never respond to these popups (popovers) but hate having to close the box since this means I do have to touch it somehow.


When I pay my Amazon Store Card at Synchrony, they always start the session with a page inquiring for current income. I always chose the skip option. I figure they may want to increase the limit and I like low limits on cards used on the Internet.

 

[Dtail]

Didn't know that, I'll have to ask.

Got lottsa dough at ML & BofA. Never get any questions, never have to verify anything. Been that way for decades.

It is called a Premium Rewards Credit Card. Just came out last summer. It does have a $95 yearly fee, but you get reimbursement for $100 of baggage costs for flights yearly, so to me this is a wash and effectively no fees.

 

[Dtail]

I used to ignore them until they actually called me to try and sell me life insurance, and then also asked the mileage. I asked why and they said I was paying a higher rate without the data so I told them. I think this is how switching insurance companies might save some people money, as they get a better rate until the ins co realizes you drive more miles than avg etc.

Anyways as for BofA I was mad at them as well. First time customer, I setup autopay on the credit card but it didn't autopay. I had to login, and click send. What kind of auto is that if I need to login the day its supposed to be automatically sent, and click a button to send. The rep assured me this was only a first time auto pay function.

I use a separate BOA credit card for autopay for bills. It should be a one time event. It works smooth each month with no issues.

 

[Dtail]

I also have had a continuing account with BoA (or predecessor) for 30 years or more. A couple of years ago they started a popup asking me to verify my SS number by unhiding it in a box. I went to the local branch and complained. They called somewhere and told them I wanted them to totally stop the login popups. They stopped until about 3 weeks ago when the verify your SS number one reappeared. (The idiots must want me to come to the branch to complain so they can try to sell some "Merrill Edge" to me for commissions.) It, otherwise, makes no sense to expose SS numbers or to check a SS number that is the basis of their issuance of services in the first place. They give me the FICO score so wouldn't I have noticed if something was wrong with their data? I never respond to these popups (popovers) but hate having to close the box since this means I do have to touch it somehow.


When I pay my Amazon Store Card at Synchrony, they always start the session with a page inquiring for current income. I always chose the skip option. I figure they may want to increase the limit and I like low limits on cards used on the Internet.

We have a double authentication on our BOA accounts with a text message to the phone to verify the supplied number. I never have been asked for an SS number.
I will say that the one time my DGF was asked for an SS number, she used a different BOA site not secured, which didn't have the double authentication and it turned out to be a fraudulent site.

 

[Mulligan]

Agree with Mulligan, the PO BOX is likely the culprit.

I cant remember details, but the government has got tighter on these PO Box addresses. They want to make sure there is a connection to a physical address in some circumstances.
And now stupid problems are occurring. I cant even buy a cell phone from my own service provider Virgin Mobile. Its a circular chase. They wont ship a cell phone to a PO Box. And wont ship to an address that doesnt match the mailing address of the credit card. Well I have no way around that scenario. Fortunately Best Buy offers the phone I need though.

 

[Tadpole]

We have a double authentication on our BOA accounts with a text message to the phone to verify the supplied number. I never have been asked for an SS number.
I will say that the one time my DGF was asked for an SS number, she used a different BOA site not secured, which didn't have the double authentication and it turned out to be a fraudulent site.

Wish that were the solution but I also have been using double authentication. I use Trusteer Rapport also (download lined from BoA originally) and their arrangement with BoA should, via "Endpoint protection", protect me against redirection to a phishing site. The local BoA verified that the popover was theirs when I visited a couple of years ago. Your comment makes me wonder what is up with login popovers anyway. Why make a customer feel insecure?

My husband's computer recently went south and I ran down to Best Buy and got him a new one. BoA blocked the credit card charge because they flagged it as a suspicious charge. I verified the charge and it finally went through. The popovers started again at about the same time. Maybe there's a connection. Who knows. They do things without notifying you as to what is going on. I like it that they flag out of character charges so ....

 

[Dtail]

Wish that were the solution but I also have been using double authentication. I use Trusteer Rapport also (download lined from BoA originally) and their arrangement with BoA should, via "Endpoint protection", protect me against redirection to a phishing site. The local BoA verified that the popover was theirs when I visited a couple of years ago. Your comment makes me wonder what is up with login popovers anyway. Why make a customer feel insecure?

My husband's computer recently went south and I ran down to Best Buy and got him a new one. BoA blocked the credit card charge because they flagged it as a suspicious charge. I verified the charge and it finally went through. The popovers started again at about the same time. Maybe there's a connection. Who knows. They do things without notifying you as to what is going on. I like it that they flag out of character charges so ....

I believe my double authentication is not from "Trusteer Rapport", as I haven't heard of this reference but who knows.
I have had a couple of Best Buy charges challenged by BOA over the years. It has been stated that one of the first places for fraudulent use of the CC is Best Buy. At least that is what I was told.

 

[Golden sunsets]

It is called a Premium Rewards Credit Card. Just came out last summer. It does have a $95 yearly fee, but you get reimbursement for $100 of baggage costs for flights yearly, so to me this is a wash and effectively no fees.

I just signed up for the card Dtail is describing. It also comes with 50,000 points if you spend $3,000 during the first 90 days. I also have a BOA Cash rewards card which has a higher points accumulation than the premium rewards card for groceries, gas and big box stores and has no annual fee. I had been using the BOA travel rewards card for everything else until the premium rewards card came out. The reimbursement for bags of $100/yr offsets the annual fee, I feel, so I went for it and will stop using the travel rewards card.


Sent from my iPad using Early Retirement Forum

 

[Tadpole]

I believe my double authentication is not from "Trusteer Rapport", as I haven't heard of this reference but who knows.
I have had a couple of Best Buy charges challenged by BOA over the years. It has been stated that one of the first places for fraudulent use of the CC is Best Buy. At least that is what I was told.

The double authentication (by BoA) and Trusteer Rapport (an IBM security product) are two separate and unrelated security measures pushed by BoA. I am surprised you haven't been urged to add Rapport to your browser, and, to be honest, I am not recommending it (or not) myself. I am guessing you may not be using a windows machine. I am sure the double authentication you use and I use are the same. You input your user name and password then negotiate a code sent to your text, phone, or email by BoA.

 

[Dtail]

I just signed up for the card Dtail is describing. It also comes with 50,000 points if you spend $3,000 during the first 90 days. I also have a BOA Cash rewards card which has a higher points accumulation than the premium rewards card for groceries, gas and big box stores and has no annual fee. I had been using the BOA travel rewards card for everything else until the premium rewards card came out. The reimbursement for bags of $100/yr offsets the annual fee, I feel, so I went for it and will stop using the travel rewards card.


Sent from my iPad using Early Retirement Forum

Yes, I also have the Cash rewards card for the same reasons.
I still use the Travel Rewards card for 2 reasons.
1) Use it for all Autopay charges, so it is less likely this card will be used fraudulently by these vendors and thus would have to reset all the charges on the Premium card. These charges still earn the same 2.625% as the Premium rewards card.
2) If you book Travel through BOA you earn 4.125% on that travel. The definition of Travel is wide ranging such as Museums, etc. The one negative is that BOA only uses Orbitz and this is not necessarily the best hotel/flight price, which of course could more than offset the extra points.

 

[harllee]

What do you think is going on? Don't you believe that this has something to do with the Patriot Act?

The reason I don't think it is just the Patriot Act is that I gave BofA all this information when I last applied for an increase in my credit line a few years ago. In addition, my husband of 45 years is a joint account holder and BofA said they had all the information on my husband. If they had all the info on DH, why didn't they have it on me? I am just curious as to what is going on but the folks at the local BofA branch could not answer my questions.

I have gotten 2 surveys from BofA since all this came up. Interesting they have my email (they did not ask for my email address when they asked for all my other info, I guess they already had it!). I am going to spend some time answering the surveys and telling BofA what I think!

 

[athena53]

probably more of a bureaucratic incompetence issue... the bank/credit card/line of credit systems probably do not talk to each other and they all need that info. Currently all banks need a SSN or ITIN for all accounts. The Patriot Act has been around for years, but the bank is probably just cleaning up accounts.

While I agree that the Patriot Act has increased the bureaucratic paperwork, I think some banks are way overstating its impact. Since its inception, I've opened two on-line checking accounts and have been added as a signatory to two Toastmasters Club accounts.

On-line Bank Number 1 had an interminable list of questions: did I anticipate ACH transactions (without defining them!), from what countries, asking about other transactions with acronyms they didn't define, what countries those might be to/from, etc. I persisted because, at least for awhile, they gave you frequent flyer miles on AA. On-line Bank Number 2 (USAA) asked maybe 1/3 of those questions.

Signatory Bank Number 1 had page after page of papers to sign and computer forms the bank officer had to fill in. He blamed it all on the Patriot Act. Signatory Bank Number 2 (same general area but across the state line) had an almost-painless process.

I'm sure that the differences had to do with the relative paranoia of the various Compliance Departments, but their interpretations of what info had to be collected were all over the map.

 

[MRG]

They lost your data. Happens all the time.

 

[harllee]

They lost your data. Happens all the time.

OP here, why didn't BofA just tell me that instead of treating me suspiciously like I had done something wrong. Not a good way to keep a customer...

 

[Ronnieboy]

For the last few months, when I've been signing into my BofA account online, I get a pop-up asking me to tell them whether I am a dual citizen. I haven't answered it and so far, have not heard anything else from them. I just keep ignoring the question every time I log on.

I am a dual citizen, but will keep refusing to answer the question. If they were to close my account over this, I could actually use an excuse to go with a local CU instead anyway.

I have had this same pop up when I sign on too. In fact, I have had the pop up show up a few times, even after I had answered/verified the information. I am not a dual citizen.

In a semi related topic, I found out I had a Citibank MasterCard account closed because it wasn't used in 25 months. I was more annoyed by this that upset as I obviously didn't use it for charges, just 0% balance transfers. But you would think I would get some kind of warning email that a card was going to be closed for non use...at least to entice someone to use the card.

I guess they saw that I only used it to get money from them vs them getting me to pay interest

 

[MRG]

OP here, why didn't BofA just tell me that instead of treating me suspiciously like I had done something wrong. Not a good way to keep a customer...

Cause if they told you you'd be unhappy. Honestly the person who you talked to probably doesn't know.

It may have been a random audit.

 

[dvalley]

Not really.... the law is pretty strict and there are some big penalties if you do not follow it...

Since I did work at a bank and had to deal with this.... I would also say it is the opinion of the bank.... now, you might have a different opinion and a close account...

My comment was about your opinion on what the bank should do if the OP didn't provide the info. How do you know it's the opinion of the bank or anyone else's unless they personally told you 'hey Texas proud, our opinion is...'

Personally it is my opinion that tons of personal data is being collected and far worse- lost to the hackers, in the name of Patriot Act etc because it's just so easy, no one will question it.

 

[Texas Proud]

My comment was about your opinion on what the bank should do if the OP didn't provide the info. How do you know it's the opinion of the bank or anyone else's unless they personally told you 'hey Texas proud, our opinion is...'

Personally it is my opinion that tons of personal data is being collected and far worse- lost to the hackers, in the name of Patriot Act etc because it's just so easy, no one will question it.

I 100% agree with your last stmt.... except that I do question it... which is why I have not logged into my Facebook account in many years... I think I used it 6 moths or so and just stopped....

As to your first.... you are right... I do not know for sure what BofA would do, but I did work for another large bank and it was their policy to do what I said... I would bet money that BofA has the same policy... but am I sure? No....