Bank Of America

[Dustin_Ragans]

FYI on Bank Of America, you have to call them to activate the service which
allows Money to connect. It's free for three months, after that it's $9.95 a
month.

 

[Chris Cowles]

FYI on Bank Of America, you have to call them to activate the service
which
allows Money to connect. It's free for three months, after that it's
$9.95 a
month.

Ouch. Is there no way to escape the cost, like maintaining a minimum
combined balance?

 

[David Walker]

FYI on Bank Of America, you have to call them to activate the service
which allows Money to connect. It's free for three months, after that
it's $9.95 a month.

I don't see the original question here, but if you're talking about
checking -- my checking account is with Bank of America, and I don't pay
the bank anything at all each month. To get transactions into Money I go
to the B of A Web site and click the button labeled Active Statements for
Money 2000 (though I use Money 2003). The site then creates a file which I
open, and opening it puts the transactions into Money.

If you're talking about credit cards, then that's a different story and I
don't do that.

David Walker

 

[Chris Cowles]

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I don't see the original question here, but if you're talking about
checking -- my checking account is with Bank of America, and I don't pay
the bank anything at all each month. To get transactions into Money I go
to the B of A Web site and click the button labeled Active Statements for
Money 2000 (though I use Money 2003). The site then creates a file which
I
open, and opening it puts the transactions into Money.

I think the reference is to a direct connection between Money and BA, not
having to go to a web site to download a file.

 

[Dustin_Ragans]

I think the reference is to a direct connection between Money and BA, not

having to go to a web site to download a file.

Yeah that's correct, the "direct connection" is what they charge for. I'm
not sure why though, since I don't think it cost them any money.

Spurrier Sucks ;-)

 

[Cara]

Ouch. Is there no way to escape the cost, like maintaining a minimum

combined balance?

You have to have an "Advantage" account with them and in order to avoid the
account fees for that you have to have a $25K (yes, I said $25,000) combined
balance.

 

[Chris Cowles]

Yeah that's correct, the "direct connection" is what they charge for. I'm
not sure why though, since I don't think it cost them any money.

Spurrier Sucks ;-)

Actually, I think they have to pay a license to Microsoft, and maintaining
the server(s) isn't free.

The folks in Columbia probably would disagree with your opinion. It's
looking like their investment was justified.

 

[Art McClinton]

Ouch. Is there no way to escape the cost, like maintaining a minimum
combined balance?

Yes if you have an Advantage account you will not have any fee. $5000
in any account (Checking or Savings) will do it. Also having a First
Mortgage with them will do it as well. Check the BoA web site for other
ways to make an Advantage Account free.

Art McClinton

 

[Cara]

Yes if you have an Advantage account you will not have any fee. $5000
in any account (Checking or Savings) will do it. Also having a First
Mortgage with them will do it as well. Check the BoA web site for other
ways to make an Advantage Account free.

They must have changed their policy, because I'm seeing a minimum of $25k
for the fee waivers on the Advantage account -
http://www.bankofamerica.com/deposits/checksave/index.cfm?template=check_advantage

If you have a line of credit with them, investments etc, those seem to count
towards the combined balance.

 

[drg]

BOA was free for automatic downloads until sometime in September 2005, which
was when my automatic (not Active statement but automatic) downloads from BOA
stopped working. Although this had been working for the last 1.5 years, BOA
telephone support personnel steadfastly claimed I had never been able to do
this from my credit card account, but they would be happy to provide what had
been a free for 9.95/month. MS was actually helpful about this issue, and a
tech spent about 15 min looking it up. He told me that BOA switch their
online security provider sometime in September and decided to charge for
access.

darren

 

[Chris]

I have been able to download statements directly into money (for free) until
last week when they introduced sitekey. Now I am unable to connect at all. I
have since done some research and found out that BoA supports paying bills
from within money
(http://www.bankofamerica.com/onlinebanking/index.cfm?template=faq_msmoney).
I called to try and set this up, and customer service had no idea what I was
talking about. I even directed them to the website above, and they were
unable to setup my account for access or bill pay.

So... my question is, who do I have to talk to at BoA to get this setup? I
will pay the fee, but no one there knows what I am talking about.

Thanks,
-Chris

 

[johnbusc]

Chris,

Try the link below or call 800.933.6262:

http://www.bankofamerica.com/onlinebanking/index.cfm?template=ms_money

Regards,
JB

 

[Larry]

(e-mail address removed) wrote in

Chris,

Try the link below or call 800.933.6262:

http://www.bankofamerica.com/onlinebanking/index.cfm?template=ms_money

Regards,
JB

Does BoA charge for all types of accounts? I was actually thinking about
moving to them from Wachovia, but I have not been able to get a straight
answer from BoA.

 

[Larry]

(e-mail address removed) wrote in

Chris,

Try the link below or call 800.933.6262:

http://www.bankofamerica.com/onlinebanking/index.cfm?template=ms_money

Regards,
JB

Does BoA charge for all types of accounts? I was actually thinking about
moving to them from Wachovia, but I have not been able to get a straight
answer from BoA.

 

[johnbusc]

Larry,

BoA's fee for Online Banking through Microsoft Money is waived for some
types of accounts. The one with the lowest minimum is an Advantage
Checking. I believe a $5000 balance will get you the waiver.

Regards,
JB

 

[Chris]

Thanks for the reply, but this only instructs me on how to download a
statement. I used to be able to have money download my statements directly. I
would also like to use bill pay through money (which BoA claims is possible
on thier website FAQ). I have been unable to get this to work, nor has anyone
at thier customer service been able to help me.

Thanks,
-Chris

 

[Art McClinton]

BoA has many different type of accounts. They are explained on the
general BankofAmerica.com website. With direct deposit you can get a
free checking account. With higher balances you can get more free
items. The web site access, manual download, and manual bill pay are
free with any account. The automatic link into Money 2006 requires
either an Advantage account or charge of 9.95 per month with other
accounts. Other items that come with the Advantage account include free
checks, free safe deposit box, and free return of checks.

Art McClinton

 

[johnbusc]

Chris,

Under the paragraph labeled HOW TO ENROLL, did you click on the
hyperlink ENROLL NOW?

Alternately, did you call 800.933.6262?

JB

 

[Chris]

John,
I am already enrolled for online banking, and when I called that number the
representatative was unable to help me. He was quite confused and says they
do not offer this service, only manual download. I pointed him to the web
page that stated you can pay your bills from within money and he stated that
he is not trained to do this or ever heard of this.

Thanks for your help.

-Chris

 

[johnbusc]

Chris,

What state are your accounts with BoA held in?

Just so you know, I can pay bills and direct download through MS Money
with my BoA account. However, I do know that this is limited by state.
If I go to the page I previously posted and click on the link to
choose a state other than my default, I may get different options.

For example, if I choose Idaho, the page redirects to a different BoA
page. This is because Online Banking through Microsoft Money is not
supported by BoA for their accounts in Idaho.

If the page I referenced shows a link under HOW TO ENROLL labeled
ENROLL NOW and you're viewing that page using the state setting
corresponding to the location of your accounts, then you should be able
to enroll online for BoA's service called "Online Banking through
Microsoft Money".

Regards,
JB