Bank of America May Be Unfairly Charging Customers Undisclosed Fees on Incoming Wire Transfers
Customers may be unaware of fees on incoming wire transfers until it’s too late
McCune Law Group, McCune Wright Arevalo Vercoski Kusel Weck Brandt, APC, (MLG) is investigating the need to bring a lawsuit against Bank of America due to unfairly charged and undisclosed wire transfer fees assessed on incoming transfers. According to complaints, Bank of America is one of the few major banks that does not disclose the fee it charges to customers receiving an incoming wire transfer. This practice may violate Bank of America’s contracts with its customers, as well as federal law. Instead, Bank of America directs customers receiving incoming wire transfers to call the bank to determine the fee amount. However, customers are often unaware that a fee applies to incoming wire transfers and only learn this after they have already received a wire transfer and the bank has taken the fee from the proceeds, essentially blindsiding customers with this unexpected fee for services. If you have been charged unfairly for an incoming wire transfer through Bank of America, contact our Financial Services lawyers today by completing the form.
Have you been charged an unfair fee on an incoming wire transfer through Bank of America?
Unfair and Undisclosed Bank of America Wire Transfer Fees
McCune Law Group, McCune Wright Arevalo Vercoski Kusel Weck Brandt, APC, (MLG) is investigating a lawsuit against Bank of America over unfairly charged and undisclosed wire transfer fees.
Are you a Bank of America customer who has been charged a wire transfer fee on an incoming transfer? You could be eligible for compensation. Contact us today by filling out the form above.
Customers Are Not Aware of Bank of America’s Wire Transfer Fees
Bank of America is one of the few major banks that does not disclose to its customers the fee it charges for incoming wire transfers. Instead, to learn how much the bank charges for the service, customers must call Bank of America. However, customers are often unaware of this fee until they have already received a wire transfer and the fee has been deducted from the transferred funds. Complaints allege this practice blindsides customers with unfair charges, and may violate customers’ contractual agreements with the bank, as well as federal law. This fee structure is unfair to all customers because Bank of America does not disclose how their fees are assessed in their account agreement. Customers are unable to decide for themselves whether they would like to open a Bank of America account associated with higher wire transfer fees, or if they’d prefer to seek a lower cost option with a different bank.
If you are a Bank of America customer who has been charged an unfair fee on an incoming wire transfer, contact the Financial Services attorneys at MLG by completing the form above.
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