How Bank of America is Profiting From the Deadly COVID-19 Virus and Can Withhold Government Aid From Americans

The Trump administration has given a private corporation, Bank of America, control of federal money that is supposed to be paid directly to Americans who are collecting unemployment and COVID-19 aid. Those federal monies are on Bank of America’s “EDD Debit Card” (VIDEO BELOW).

NewsVideoClip.TV learned through several sources that Bank of America can withhold federal COVID-19 aid and unemployment money from taxpayers if they do not first create an online account/profile with Bank of America.

Only after creating an online account/profile, are these federal funds made available to Americans, but not all of it.

Bank of America limits the amount of federal money than can be physically withdrawn from a Bank of America location to $2,500 daily, which Bank America does not mention in its “Quick Reference Guide.”

A Bank of America rep told NewsVideoClip.TV that people can withdraw up to $10,000 from a bank location, but when asked to name one branch in Los Angeles that does this, Bank of America failed to do so.

Bank of America also charges numerous fees to Americans for accessing their own federal funds: $1 fee for each out-of-network ATM withdrawal, $1 for each international ATM withdrawal, $10 for each replacement card (express delivery), $10 for each replacement card (international) and $15 for each emergency cash transfer (domestic).

You can transfer some of your own EDD money out of Bank of America to your real bank for free by using the Bank of America website (VIDEO BELOW), but not all of it.

You cannot transfer (online) more than $5,000 of your EDD money from Bank of America to your real account at another bank, per week, which Bank of America does not mention in its “Quick Reference Guide.”

If you try to do so, you will receive this message (below) that tells you to call Bank of America customer service (1-866-692-9374), who will also refuse to do the same transfer.

You can take your EDD Bank of America card to your own bank and have any amount transferred from the card to your real bank account. Keep in mind that Bank of America will not volunteer this information, but will “warn” you how your bank will charge you.

NewsVideoClip.TV found that was not true with three different banks.

(Source: Helper J /YouTube, Photo Credit: Mike Mozart/Flickr)

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