Bank of America website disrupted for 4th day in a row

http://www.theregister.co.uk/2011/10/03/bank_of_america_website_outage/

by chailatte • 15 years ago

51 29 15 years ago

theregister.co.uk

feydr• 15 years ago

FYI: I don't know where their mobile app is pointing too but it works perfectly fine

For me, it's always been incredibly slow, and stateless - e.g., if I use it to find a nearby ATM, and switch over to the Google Maps app, and go back to the BoA app - it forces me to start all over - it takes about 3 minutes for it to finally find an ATM near me.

I've given up and just started searching for 'bank of america' in the Maps app.

(iPhone app, 3gs.)

onedognight• 15 years ago

> if I use it to find a nearby ATM, and switch over to the Google Maps app, and go back to the BoA app - it forces me to start all over

They fixed this is the latest release. It now will keep you logged in as long as the app hasn't been kicked out of memory (which is not up to them). On a 3GS that might be sooner than you'd like, but has been working for me on my 4.

saucetenuto• 15 years ago

> Friday's disruption came the same day that BofA said it would begin charging customers $5 per month for purchases billed to their debit card.

Does anyone have more details on this? The units don't seem to match in "per month for purchases" - like, $5 per purchase? $5 a month? $5 a month, but only on months in which you make at least one purchase?

And for heaven's sake, why?

bingaman• 15 years ago

http://www.nytimes.com/2011/09/30/business/banks-to-make-cus...

Because fuck you, that's why.

neilc• 15 years ago

> Because fuck you, that's why.

No:

The round of new charges stems from a rule, which takes effect on Saturday, that limits the fees that banks can levy on merchants every time a consumer uses a debit card to make a purchase.

Given the low rate of fraud on debit card purchases, banks were previously making a killing on from debit card fees; with those fees reduced, they need to find an alternative revenue stream. US banks aren't exactly doing well these days, so their need to replace that revenue with something else is understandable.

rick888• 15 years ago

This is a typical response from someone with the social skills of a child. But this seems too common these days..

hugh32• 15 years ago

Five dollars a month, for any month in which you use your debit card for purchases.

As for the "why", the immediate reason is because there have been some legal changes vis a vis how much they can charge to the merchant for the benefit of running this transaction.

More generally, because they want to incentivize people to use their credit cards instead of debit cards. And for those who can't or don't want to get credit cards -- to incentivize them to take their business elsewhere, because the bank really doesn't make any money off people who just have checking accounts. Checking accounts are merely a gateway drug to more expensive banking products.

Doesn't bother me, I get 1% cash back on my credit card and am not dumb enough to spend more than I earn on it, so I already have no incentive to use my debit card for purchases.

pavel_lishin3• 15 years ago

I'm annoyed at this, but I probably won't switch. I rarely use my debit card to make purchases, since I have a BoA credit card with reward points - and I've heard that debit card fraud is more difficult to combat.

Do most people shop with their debit card?

InclinedPlane• 15 years ago

Checking accounts used to be a cash cow for BofA back when they could milk them for overdraft fees, but that's no longer as easy. They are also hurting from all of the mortgage pain they've been dealing with lately. They are desperate for revenue.

Additionally, this isn't the whole of it, they've raised/instituted monthly fees for checking/savings accounts that don't meet certain minimum balance/deposit requirements. I have accounts with them that I got for free years ago that I haven't used in well over a year, they want to charge me nearly $400 a year for the privilege of keeping those accounts.

Meanwhile, the account I use now is at a local credit union. They don't charge me crazy fees, they don't treat me like crap, and they don't look likely to be going out of business in the next few years because of crazy financial decisions.

myth_drannon• 15 years ago

First bank e-run ?

lsc• 15 years ago

oh man. so they use he.net, too?

(I kid, but it's been a pretty horrible week for DoS attacks there, too.)

Bank of America website disrupted for 4th day in a row

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