Modelry - A Random Walk through Internet Real Estate: Response from Bank of America CEO about Online Upgrade

Response from Bank of America CEO about Online Upgrade

Hi Everyone,

CAVEAT: One of my great pet peeves about ActiveRain is when a member of ActiveRain uses ActiveRain's SEO power to flame another business online rather than speaking to the business directly and trying to resolve the issue.  This blog post is NOT a criticism of Bank of America.  This blog post is actually a recognition of customer responsiveness from the CEO of Bank of America Brian Moynihan.

Below is an email I sent to the CEO of Bank of America CEO Brian Moynihan regarding the upgrade of the online banking services.   As many people know, Bank of America completed an online upgrade of its web site this weekend causing many customers to lose online banking access.  As a small business, it is very important to know how much money you have in the bank every day, especially when you process payroll on the 20th of every month.  

Due to losing online access and the tightened security questions at Bank of America, we have literally lost access to our banking accounts for the past five days.  The team in the South Lake Union branch of Bank of America has been responsive, but on the whole, been unable to help with the upgrade as we needed to call into a separate call center.

Anyways, as the team here at ActiveRain will testify to, I have literally spent more than 5 hours over the past two days with various members of Bank of America trying to re-establish our online banking.  We fixed it yesterday and then today, the online access disappeared again (due to fraud protection) and the fraud protection department closed at 7pm Central.  

Frustrated, I emailed the CEO of Bank of America directly.  He responded within 15 minutes, copying their head of small business banking.  I am very very impressed.  We'll see if the issues get resolved, but, WOW, I never thought the CEO of one of America's largest companies would actually respond to a random email from a customer, especially given all the political drama going around the American banking system. 

That is pretty amazing. 

Niki

Email to Bank of America CEO

Nikesh Parekh

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Comment balloon 11 commentsNikesh Parekh • October 19 2011 10:21PM

Comments

Hi Niki,

that is very impressive, even though I can well imagine how frustrated you must be with not get working solutions, it drives us crazy as well, when it happens.

Posted by Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986., Talk To or Text Peter 250-213-9490 (eXp Realty, Victoria BC www.pfanntastic.com) almost 7 years ago

How do you know that posters are flaming a buinesss without trying to contact them?  I can tell you, many many agents have tried to contact companies like BoA only to have their emails disappear or voice mails go unreturned.  I say flame away until they get their customer service up to snuff.

Posted by Justin Dibbs, REALTOR® - Ashburn Virginia Homes for Sale (Pearson Smith Realty) almost 7 years ago

Nice to read a positive post about an appreciated response.  Thanks Niki!  Hope everything gets sorted out for you tomorrow.

Posted by Susan Emo, Kingston and the 1000 Islands Area (Sotheby's International Realty Canada - Brokerage) almost 7 years ago

Thanks Peter.  I generally try to work with the company.  If all else fails, I take my business elsewhere. 

Justin, you may be surprised, but we actually get a fair number of inbound calls from companies complaining about blog posts that have been written about them on ActiveRain by angry real estate professionals.   So we see the blogs and hear the other company's side of the story often (which may or may not be true).   ActiveRain is a pretty powerful platform for real estate.  Many of the complaints can be non-real estate related and do not really add much value to the community, other than to be painful for the company in question.  I also personally don't think having a public blog flaming another company is generally good marketing for one's business.

 

Posted by Nikesh Parekh, Technology Entrepreneur, Executive, & Investor (Suplari, Inc.) almost 7 years ago

Hi Nikesh - I have been asked some security questions from credit card and bank call centers such as

1)  what gas station do you purchase from most frequently (they were looking for a particular chain name but I buy gas from the most convenient location and/or the best price and/or one that is open and actually has some gas and/or has a minimal lineup and/or other factors - I have no brand preference.)

2)  what is the amount of your last payment or last transaction (when I have not used the particular account for a number of months)

3)  what was your last transaction on your credit card (when various companies have charged my card at various times, many automatically and I don't know what posts or when it posts)

4)  what was the last payment on your account (I don't know the amount because I made it a few days / weeks ago and/or the amount is not a material amount to me)

Posted by FN LN almost 7 years ago

Niki, Nice to see that responsiveness from  the CEO.  I've read about instances like that, but you still don't really expect that response from such a large corporation.  Good luck with a quick resolution.

Posted by Liz and Bill Spear, RE/MAX Elite Warren County OH (Cincinnati/Dayton) (RE/MAX Elite 513.520.5305 www.LizTour.com) almost 7 years ago

It's hard enough to remember my password, let alone all these security questions!! :)

Posted by Gail C. Harris, Reach the BEACH with Gail C. Harris (cell: 703.868 (Resource Network, LLC SFR, AHWD, ACRE, SMAR Board Director) almost 7 years ago

Hey Nikki,

I guess we just disagree.  They only way things will get better is if these companies feet are held to the fire and the only way to do that is to out them publicly.  I don't think it really impacts that negativly on one's business if you post about it (unless that is a majority of what you post about), considering the economic environment we're in.  You may have received that nice email but there are 1000's of other inquiries that go unaswered or ignored.  Here is yet another one on AR today blog post

Justin

 
Posted by Justin Dibbs, REALTOR® - Ashburn Virginia Homes for Sale (Pearson Smith Realty) almost 7 years ago

Niki, Sometimes you just have to go to the top!  As I did yesterday with my frustration.  Thanks for your comment. 

And, I normally don't have to go to the top with BofA, but I have been known to.....and had a whole cadre of people there listening to my frustration there, too.  Sometimes that is better than dealing with people whose heads should roll for letting something valuable slip out of their hands. 

Posted by Don Sabinske, Sabinske & Associates Inc. (Don Sabinske, Sabinske & Associates Inc.) almost 7 years ago

For those who are interested, I actually received a call from Marcus today in the "office of the President and CEO."  Marcus was able to trouble shoot my problems and re-restablished our online access. 

Though it has been a painful two or three days with Bank of America, I was impressed with the responses and responsiveness when I finally got hold of the right people.

Niki

Posted by Nikesh Parekh, Technology Entrepreneur, Executive, & Investor (Suplari, Inc.) almost 7 years ago

Nikesh:  My personal experience with BofA differs from you completely.  I'm glad that it turned out so well for you in this instance.  Maybe if all of their people could "just fix it" we'd all be on their band wagon!

Posted by Linda K. Mayer, Realtor, SRES, SoCAL, A REALTOR YOU CAN TRUST (License # 01767321) almost 7 years ago

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