Thursday, January 04, 2007

Bank of America Dropping the Ball?

The major reason I bank at Bank of America is their online banking. Since I switched from US Bank (the ATM by the bookstore at school was US Bank and there was a branch just up the street...'nuff said?) to Bank of America, I've checked my balance probably five-plus times every week. I love their online banking. Love it. I love that it's quick, easy, and intuitive. I love that internal transfers are made instantaneously if they're before 10 PM (this feature has saved me overdraft charges more than once). I love their online bill pay capabilities, and I love the "My Portfolio" feature that displays all my accounts (even the ones not at B of A) in one place.

Lately, though, I've not been as pleased with the interface or the service. They redesigned in a way that's not as visually clear to me, and clicking the "My Portfolio" link had resulted in getting myself accidentally signed out of the system several times. Today, online banking is barely working. I can sign in, albeit at a snail's pace, but I can't view any of my accounts. I made a substantial deposit this morning and am looking at opening up my Roth early next week, which will require a lot of online work, and right now I'm feeling pretty nervous about Bank of America's ability to help me do that efficiently.

This makes me seriously consider the possibility of moving everything over to Washington Mutual for the free checking/high-yield online savings deal, which is sweetened by a higher rate than ING's and by an instant checking/savings link.


Mr P said...

I have both Wamu and BOA checking and savings accounts. Let me say that if BOA had a savings account with the same yield as Wamu I would only bank at BOA. Their interface is intuitive/easy/billpay is excellent and transfer of funds (to/from) external accounts is better. Wamu is ok but only for its high yield savings. Everything else at Wamu is sub-par. You might be experiencing this because BOA uses Yodlee for My Portfolio and whenever they upgrade that its usually slower first and then faster as time goes on.

Ms. MiniDucky said...

Can I tell you that I love Wamu? I've had them forever and pretty much have never had a problem with them.

Tired of being broke said...

I recently made a few posts on Bank of America's technology being full of crap. I no longer use them.