• If you enjoy the forum please consider supporting it by signing up for a NES Membership  The benefits pay for the membership many times over.

Bank of America

Rating - 0%
0   0   0
Joined
Jul 20, 2009
Messages
228
Likes
13
Stoping purchase of ammo and firearms? There's a YouTube video of it but I can't get it to post. On my phone. Any truth?
 
Rating - 100%
62   0   0
Joined
Apr 16, 2009
Messages
5,520
Likes
1,350
Location
Free Hampshire
I never had an issue using my BofA debit card to buy guns and ammo.

Same here. Acme uses BoA for it's banking also w/o a problem.

Yeah, Ares Armor got their CC processing shutdown by BoA last month. They're manually re-processing the $500K in orders that BoA denied to process.

I think there is more to that story then we have heard.
 

BringTheRain

NES Member
Rating - 100%
38   0   0
Joined
Aug 31, 2011
Messages
448
Likes
45
Location
Reading, MA
Same here. Acme uses BoA for it's banking also w/o a problem.

They are systematically looking at small business accounts and asking what they are for. I got pulled aside by the local BoA bank manager asking about my deposits for my "consulting" work, told them it was IT based... [wink]

May I humbly recommend that you have a back up local bank that you can swing CC processing traffic to, and also move some of your reserve as well?
Would hate to see local, valued members of the community end up like McMillan with their accounts frozen.
 

Kevin_NH

NES Member
Rating - 100%
9   0   0
Joined
Jun 25, 2010
Messages
9,035
Likes
2,932
Location
WNW of MHT

veles

NES Member
Rating - 100%
7   0   0
Joined
Apr 10, 2009
Messages
212
Likes
18
Location
Lakeville, MA
They could be doing this, among other anti-consumer things they used to do. Wouldn't be surprising if they do.
I closed all 10 (personal & business) accounts I had with them a year ago and never looked back - they suck.
 
Rating - 0%
0   0   0
Joined
May 30, 2011
Messages
7,266
Likes
1,422
Location
Metrowest
BoA is a horrible bank on many different levels. Put your money in a credit union, borrow from a credit union, and close your BoA accounts. The fact that they charge you to hold your money should be enough, but their hostility to legitimate business owners on ideological grounds when they are responsible for millions of bad mortgages should be the deal-breaker.
 
Rating - 0%
0   0   0
Joined
Dec 12, 2009
Messages
1
Likes
0
I checked this out with BofA tonight. A friend said they are no longer allowing customers to purchase gun or gun related items on their cards, debit or credit.

"Regrettably, we are not able to speak in regards to that article at this time. No official statement has been released. We do have a site that you can check back with, where we do release information in regards to articles such as the one you are referring to. The site is http://newsroom.bankofamerica.com"

There is nothing on their news site. I left a request for an answer so I can decide if I want to close my accounts with them. They are supposed to follow up. But with the way they are evading questions I believe there may be some truth to this.
 

Kevin_NH

NES Member
Rating - 100%
9   0   0
Joined
Jun 25, 2010
Messages
9,035
Likes
2,932
Location
WNW of MHT
So far, no proof of any bias on the part of BofA. They abuse all customers equally.

So far we have one blogger talking to one call center dude in India, and "A friend said". Seems to me that if BofA were blocking more than these two customers purchases of things gun-related, there would be a lot more people reporting problems?

Snopes says it's false.

WPTV said:
A Bank of America spokesperson released the following statement to NewsChannel 5: "This customer's concerns have been resolved. A spike in transaction volumes is routinely reviewed by the bank in order to protect our customers and is done regardless of the industry in which they do business. We regret any inconvenience this may have caused." "Bank of America credit and debit cards can be used when presented at retail locations where major credit cards are accepted," BOA also responded to NewsChannel 5 in a tweet..

Looks like the issue isn't the nature of their business, but the unusual transaction volume. I've been through industry training (e.g. "Know your customer") and a sudden spike in the number and dollar amount of transactions is a definite "red flag". That doesn't mean Bank of America didn't screw up, but does suggest it wasn't malicious or anti-gun, just their usual incompetence and arrogance.
 
Top Bottom