I had 2 brokerage accounts with Banc of America Investment services, and while the commissions were a little high ($10 to open, variable rate to close), I was overall satisfied with my accounts. After 2 years of toying with trading stocks with these 2 accounts, the total balance between them was about $100. I had a few stocks in there (such as GM) that became almost completely worthless, and weren't even worth paying the commission to sell them. One, however, (ROFO) is up over 200%.

Then, last year, Banc of America Investment Services became Merrill Edge. The fees were increased starting the 1st of the year and so I decided to move my portfolio to another broker. I did not appreciate having an account that had no ongoing fees change into an account that now has quarterly fees. So, after the 1st of this year, I opened an account with Fidelity & performed a transfer of assets from the 2 old accounts to the new one. Right before making the transfer Merrill Lynch tacked a $95 fee onto each account, and a $25 fee to one of them. After the transfer, my new account now had a total value of -$100! They made me pay $215 for the privilege of transferring less than $100 in stocks! ASS HOLES!!

So I went online to try to get these fees refunded. After many minutes of searching, I finally found a way to chat with someone online. After explaining the situation, the representative said he can't access account information, he can only open new accounts... Great. Then he gives me a number to call. I really didn't want to have to talk to someone on the phone, but I call it anyway. After wading through 10 minutes of automated menus, I finally get a live person. I explain the situation and he says I had a 90 day window last summer to transfer my account free of charge. I said, it would've been nice to know that. He said everyone was mailed information about it. I didn't get it. Either I didn't read it or it simply never came. Regardless, I have these 2 accounts worth less than $100 and they charged me $215 to close them. I asked to speak to his supervisor. He said the supervisor would say the same thing. I asked to speak with them anyway.

The supervisor was a bitch. She repeated what he said, and wouldn't let me get a word in edgewise. Fees are posted on the website, so it applies. It didn't matter what I said, I was not getting a refund, she said. I asked to speak to her supervisor, and she said he was not available, and that this isn't something you can just go up the chain of command about. The fee is not eligible for refund, period. So I said, then you'll never have me as a customer again, swore at her, and hung up.

Now, I understand that you can't do business refunding all the fees you charge, but come on now. Do they think I would really have chosen to be charged $215 to withdraw $100 worth of stocks!? I am furious about this. If they had been reasonable and offered to rectify this, and give some kind of refund, and try to make it right, I would probably have considered going back to them at some point in the future when I have an account worth several thousand dollars. Instead, I will avoid dealing with them again no matter what. I'm considering dumping Bank of America as my main bank as well, since Merrill Edge is plastered all over their website. Every time I see it, I'm reminded of the way they raped me of $215.