I have banked with BAC since 71, and I have used its online banking since its inception. I payoff my BAC credit card monthly through online banking. Within the last 7 to 10 days I received a notice from BAC that BAC will no longer allow me to payoff my BAC credit card using online banking on or after September 13th. Which raises an interesting pickle for me, as I have gone paperless with my credit card account and I don't see anyway of paying off my balances without getting back on paper and paying by check. BAC will remove their BAC credit card "pay or transfer" tab from my online banking page on September 13th.
What I plan to do is transfer my funds to another bank next week, hoping that the new bank does not have a similar policy. Why BAC would make such a stupid decision astounds me, since it will surely cause many BAC customers to change banks, which someone like Java might take the opportunity to short BAC stock. One possibility for BAC doing such a stupid action is they are losing billions of dollars annually to credit card fraud, but there could be more nefarious reasons for such a move. I have my thoughts on why that Java would discount out of hand as just another worthless conspiracy theory, LOL! What do you think?
BigBalls, thanks for the thoughtful response. FYI, BAC does offer online banking to pay creditors. As it turns out, they do allow online payments on the credit cards but not through their Bill Pay Service after Sept. 13, but through another tab. I just have a BAC checking account and transfer money in from my investment accounts to pay bills.
I once looked into getting a 1st TD from BAC for an investment I wanted extra money for because I saw their low advertised rate. As it turned out, that rate was only available for Elon Musk and the like. LOL!! Needless to say, I would not go to the BofA for a loan.