I've read the recent posts concerning the 'massive' problems BAC is supposedly experiencing with online/credit card accessibility. Let me offer a couple of my own observations from personal experience.
1. At no time the past several days have I experience any problems accessing the online banking site.
2. Last week, and through the weekend, the online site had a notice posted that the credit card information would not be available due to changes being made. I assume this was for the transition.
3. I was unable to access the credit card info yesterday, although the warning notice was gone. I don't know if this was due to a problem or failure to keep the notice posted.
4. Today I've accessed my credit card information a couple of times to see how things are working. I did note that the system seemed a little slow (not online banking itself, just getting to credit card info). Whether this is due to systems problems or simply a huge number of customers trying to access I couldn't say.
5. I happen to like the new format for credit card info. The presentation is a lot better than it was before imho.
Folks, this was a massive conversion. Not only were the millions of MBNA customers added to the site, but the millions of BAC customers were moved to the MBNA credit card systems from TSYS systems. While it would have been nice to think that the bank could have pulled this off flawlessly, I'm not going to gat all that upset because they may have encountered a few glitches. C'mon people. Who else do you know has ever even attempted a conversion of this magnitude before?? Not even the Fleet transition involved so many customers being converted at one time.
As a customer I'm happy. My info is there, I can access it, and everything is correct. As a shareholder I'm happy. This does not appear, at least from what I can see, to be a major problem and should not have any negative impact on the bottom line. Looks to me like fairly normal transition kinks that do happen from time to time. In addition, I fully expect BAC will do whatever it takes to ensure that no customer is financially impacted.
I have been a customer of MBNA for years and a customer of BAC for about 2 years. Right now, I am very unhappy. For 2 days I have been unable to access my card information. I am still unable to see anything in regard to my MBNA mastercard account. There doesn't seem to be a contact setup for those of us who have been set adrift.
I personally am moving all assets away fom major money center banks -- customer service in my opinion is non-existent unless you enjoy automated voice response systems -- tried to close my 401K account at JP Morgan -- had a 24 cent balance -- they require a certified check for 24 cents I sent them a quarter now they owe me a penny -- $0 stock trades -- IMO you will probably get what you pay for
You must work for mbna or one of those analyst that said that leaving tsys was a great idea...that posting sounds like a press release not something you would normally find on a message board discussing the stock price� is it damage control?�I just hope you don't have to go to the board of directors this week and explain this train wreck...is this a bank or a data processor? this only shows the rest of the world how good tsys really is at what they do� i have no doubt that in time these issues will be resolved and it looks good on pro-forma income statements�but it'll be at the expense of bofa's card holders�let�s just wait and see if they hit their numbers or if they have to adjust the projected earnings down for the next few quarters�and that brings right back to the stock price�