Banks love finding new ways to squeeze extra fees out of customers, often disguising them as “conveniences.”

After being charged a $5 online service fee, one borrower decided to turn the bank’s nickel-and-diming into a literal mountain of coins.

Read on for the full story of malicious compliance!

I cost Bank of America ~$8,000 legally

I refinanced my mortgage through a mortgage broker and, to my aggravation, they sold the servicing rights to Bank of America.

I was miffed.

I estimated that Bank of America (BoA) paid ~$5k to service my loan, as most folks at the time expected loans to stay on the books for at least three years.

Then the bank had yet another cash grab.

About two months after the servicing switched, BoA announced they’d be charging a $5 fee for the convenience of paying the mortgage online.

Truly an unwarranted money grab.

But this borrower wasn’t going to stand for this.

I’m blessed that I can put a little extra toward my mortgage payment every month. So the following month, I took out my mortgage payment plus $400 in quarters from my local bank.

I then went to my local Bank of America branch and handed them my mortgage payment in quarters along with the repayment stub.

They were determined to avoid any of the bank’s excessive fees.

I asked for a receipt of payment. I overpaid my mortgage to reduce the current balance and thereby reduce Bank of America’s fees.

The nice branch manager said, “You can write a check, you don’t have to pay in coins.”

I said I could, but I would charge a $9.50 convenience fee for the stamp, my check, and the ink used.

The branch manager actually laughed and said, “Okay.” They counted the money, and I got my receipt.

But they still didn’t budge on the charge, so it was time to kick things up a notch.

The next month, the charge was still there, so I went to another local Bank of America branch that had gotten bad reviews on Yelp due to a hostile bank manager.

I did the same thing.

The branch manager said, “Write a check. We don’t accept quarters.”

The borrower knows just what to say next.

I said, “Shall I call the local state’s Banking Commissioner, the Consumer Financial Protection Bureau, and the Office of the Comptroller of the Currency (the U.S. top bank regulator) and say you won’t accept legal tender?”

I asked to talk to the district manager. I was making a stink.

After about 20 minutes, he grudgingly had the staff count the quarters, and I got a receipt.

I told the manager that I would be bringing dimes next time.

So the borrower kept at it until they got their way.

The next month, I brought dimes.

He accepted them but glared at me the whole time.

After that payment, Bank of America rescinded their convenience fee.

Then they got out as soon as they could!

The month after that, I refinanced my mortgage at a lower rate.

Bank of America only got roughly six months of fees for servicing that they expected to last three years at minimum—five years to be profitable.

One of my proudest malicious compliance moments.

Let’s hope these bank managers realize their customers are willing to fight back.

Let’s see what Reddit had to say!

This particular bank strikes fear into the hearts of many, apparently.

This user wonders what must be going on behind the curtain that leads to such a poor experience for the borrower.

Like many other companies, many banks go way overboard with the fees.

Banks are notorious for being one of the most heartless industries.

Small change really does make a big difference.

If you liked that post, check out this story about a customer who insists that their credit card works, and finds out that isn’t the case.