I have been apart of this proess for at least 2-4 years (or longer) and if indeed this is a SCAM, I am going to to be HIGHLY PISSED.

I want to thank you for your information, and EVERYTHING  you mentioned regarding this alleged SCAM, However, being that I had my suspicions and my doubts,i can cannot call today being it is the weekend. So I will wait until Monday and call them and follow your steps in contacting who i need to.

Again, I appreciate your input and your detailed and thorough history on "Customer Years" info.

Thank You!!!

I have been charged fraudulently as well by BofA and their 3rd party insurance company. I never authorized the debit. This fraud is even on Clark Howard and AARP....http://www.aarp.org/money/scams-fraud/info-09 ... an_answer_.html http://www.clarkhoward.com/news/clark-howard/ ... customer/nDBML/

Thank you for this information. Now off to see what I can do?

you should contact not coverall in chicago but the president directly in CT. i left messages and emailed and called. i wrote letters and they responded with a call after i stated my plans to start a lawsuit.

i received a refund check from coverdell and bank of america did not acknowledge their mistake because it is my educated guess that the bank is selling customer info to coverdell and other companies.

the best action to take is write a letter to coverdell and make a call to their president not chicago. they ignore you and give you run arounds. they did that to me for a year and then stated they had no actual recordings but a signed contract from me. which was impossible because i wasn't even in the country when they stated i signed the dated document. a lie and I was able to prove it.

My mother has dementia and I recently took over her financial affairs.  I noticed a recurring charge on her bank statement on the 14th of every month.  I called the BofA and they would not stop the charge without charging $30.  They gave me the number to whom the payment was going but would not tell me who it was.  When I spoke to the company, it was Coverdell Plan Administrators and said that my mother had an accidental death policy for One Million dollars if she died from an automobile accident.  I have to fax or mail them a cancellation request at Coverdell, Plan Administrator 8700 West Bryn Mawr, Chicago, IL 60631.  I wonder if the bank is doing this on their own without the account holders knowledge.  Hmmmm

How can I stop Bank of America from sharing my information with anyone?

This happened to me too. Your info was very helpfull.  Were you able to get your money back? How did you dispute it if Coverdell had your recording? I am working on it right now.
Thanks
Purple

Proud Papa,
It seems that  "Customer Years' has different rates of payment. I was charged $24.90 for two months before I caught it. I am presently in my third year of college studying Internet Fraud as a major. At no time did this company contact me nor did I contact them. You would think that after two months they would send me some type of correspondence," nothing received".
When I found out it was some kind of insurance, I went ballistic. I have more than enough insurance at this point in life. This is the last thing I would need. I never had contact, nor heard of this company until I investigated them. Being disabled and living on social security, you watch every penny.

Last Saturday, 8/6/2011, I received a letter from BOA stating they had proof of my authorization to charge me. I have never been able to hear that recording. After sending them my intentions concerning outright fraud, I received a call on the following Monday, 8/8/2011. The lady told me that she has a discretionary fund and they would pay me back until Customer years would pay BOA back. There are several players involved in this scam and yet, BOA allows this to happen.
Do not be persuaded by upper responses by: coverdell 12/05/2010 or Lily 5/19/2011 that it is your fault. They apparently have ties to BOA , needed the insurance or live under a rock. Yes, I am getting my money back, but what about the possible thousands that do not? Yes, this is outright fraud by a major company, Exxon is just another example, so do not tell me that BOA is incapable of doing this.
I am in favor of any action against BOA. This has to stop now! ( wpaul11@verizon.net)

I'm going to the local and national news CNN CBS3 anybody that will take my story and I want them to think I won't all I got is time and tell all about customer years and bank of america and my attorney will be filing a civil suit for sharing my information.

Wow! This frightens me. I too have be caught up in this fraudulent situation. My story is very simular to everyone else's here on this web page. I am seriously closing my account with BOA asap!

I just finished a call with  the dispute dept of BOA and was told they did not know what it was and neither I nor them could cancel it...only this "insurance company" can cancel.
This is definitely FRAUD as I don't need any type of insurance coverage as have been well covered for many years in all areas.

I am willing to join a class action lawsuit; I don't care if we ultimately get paid $1. Companies need to know that there are consequences to deceptive practices and stealing from working Americans.

BOA did not rip you off...you agreed to something, forgor to cancel on time , and then were charged for the service!!  WORDS OF ADVISE... NOTHING is for FREE everything is on a free trial period!!!! Get educated please!!

I think it is DSI Insurance..... Discount Shipping Insurance

well too bad you guys dont even know what you authorize, it seems like the charge for 35.90 is a policy that was offer to you guys over the phone (by way is an excellent policy). The representative clearly states that they gonna send it to you and if dont want it just call within first 30 days to cancel, you also have to say yes to them for them to send you the policy, i have one im so glad bank of america offer me this policy. i heard the recording of my conversation when they call me since i thought it was a fraud too, but mind is so fragile and u can really forget things... do u guys really think that a huge compay like bank of america would do fradulent things? comon their would be tons of law suits and so far nothing i use to work for bofa, and always ppl like you authorize things like this and then dont remember... not their problem. next time dont say "yes" when they call you offering something.. simple as that!!

if I set this up where I pay you the 29.95 monthly would you pay off my current bill then

THIS NUMBER IS A SCAM!


If you have been contacted by this number, you better check your bank account. If you are a Bank of America customer, contact the bank IMMEDIATELY!!!

I share the same story with most here, and this is what I suggest you do if you are or have been charged with a fee payable to Customer Years (the actual name of the company is Coverdell) out of your Bank of America account.


HOW THE SCAM WORKS
Bank of America offers your contact information to companies like Coverdell (Customer Years) so that they can provide you with services, such as life insurance policies, that you may be interested or benefit from. Of course, Bank of America receives a share of the profits for sharing this information with these companies. You can prevent Bank of America from sharing your information with other companies by contacting the bank and "opting out."
Once Coverdell (Customer Years) has your information, they will use yet another company to actually contact you regarding the services offered. This third party company, called GCS, is a telemarketing company. The only contact GCS make with you is, not surprisingly, through a phone call. Neither GCS, Coverdell (Customer Years) or Bank of America have any written confirmation of your agreement to take up the services. The only agreement is a verbal confirmation that you allegedly gave over the phone. Therefore, you should be particularly skeptical if you have been contacted by this number at all!!


WHAT TO DO
1. Contact Bank of America's customer service (1.800.432.1000) and request cancellation of the automatic payment to Coverdell (Customer Years).

2. Ask to be transferred to the claims department (there's no direct number) and file a fraud claim with Bank of America regarding the unauthorized transaction(s). If you use online banking, you should be able to see how often you have been robbed from your money; otherwise, ask the agent to run a history check to see how many times there was a transaction involving Coverdell (Customer Years).  

3. Contact Coverdell's (Customer Years) customer service (1.866.237.8236) and ask to speak with Supervisor Jay Johnson, extension #4260. It is crucial that you take this final step, because there is no signed agreement, the point of this call is to request for Coverdell (Customer Years) to provide you with the recording of your verbal agreement. They will honor your request and contact you back within a few days and play back the recording containing your agreement. At this time, you should also ask to cancel your policy, whatever it may be, with them.


ADDITIONALLY
As I said before, Bank of America is not liable; however, it is unfair that the bank actually endorses this type of deceptive business practice and even gets a share from doing so. Therefore, you should file a complaint with the bank regarding this issue. Unfortunately, your calls requesting the stop payment and the fraud claim will do nothing to prevent this from happening to other innocent people. So you should keep this in mind and take some time to actually file a dissatisfaction complaint regarding this practice and the bank's association with Coverdell (Customer Years).
This will be a bit more time consuming because you will have to explain to the agent your entire story... and you SHOULD tell him/her EVERYTHING!  
When you initially call, the agent will tell you he/she does not know what you are talking about. Do NOT give up. Tell your story!!! Bank of America uses a system called Flagscape. Ask the agent to look up Coverdell (Customer Years) under Flagscape. The agent will freak when you mention Flagscape because general customers do not know about it. Flagscape is the system that houses all of the companies that Bank of America associates with, so the agent will be able to find Coverdell's (Customer Years) information and properly file your complaint.


THANK YOU
I hope this information is helpful and I also hope you take time to help make things better for yourself and others. You may think that $29.95 is not worth complaining about, but when you multiply that number by the hundreds, perhaps thousands, of people who are being scammed, the issue becomes a great cause to fight for.

We have a small business, tiny, actually, but there are lots of bills and paperwork.  These relatively small charges can go unnoticed for a good while until business slows down and finances get tight enough that I have time and motivation to check item by item in every bill.  I caught this IP INS PYMT pattern and tried to find out what it was about, the credit card wouldn't tell me b/c I'm not the cardholder and the number listed for the company posting the charges didn't work.  I may have figured it out but to make sure my husband had no choice but to get on the phone at the end of a long and trying day.  After a brief exchange with BoA's credit card company agent, he was transferred to another number.  He waited and listened over and over to the recorded messages about how important his call was to them and then suddenly got disconnected.  Not a heart warming story about BoA's Customer Service, is it?  THAT is precisely the problem; assuming that we did agree to insurance of some sort, if there's no one at the store to answer our questions, what assurance is there that our CLAIM would be honored and PAID if we were to present it?!.

Have they stopped the charges? And have you solved the problem?

It happened to me, also. Same pattern, same amount,$35.90 on my credit card without authorizing it. I went to my online account and clicked on "dispute this transaction". The answer was that it can not be done with this particular merchant so I called the claim department of BoA. They gave me a claim number and transfered me to the billing department who put me in direct contact with the insurance company. I was told by the Insurance Company they will cancel the insurance, which I did not authorize, and will remove the payment request. They gave me a very long claim number, too. I hope this problem is solved, helped by BoA claim and billing departments.

I have to cancel my BAC card. I haven't seen such a poor customer service and not

This 866-237-8236 phone number appears on my bank statement with a
$35.90 ppd. Don't know anything about them and the # doesn't exit on
nov. 1 2009.

I find myself in the same situation with everyone else on this blog.  In my household we receive calls daily from Bank of America for that same reason.  I have deductions on my account that I have not authorized. The sad thing about it is that BOA takes no responsibility for someone calling and using their name.  No one at my house agreed to anything, After calling the customer service number someone claims that they will send a post card back in the mail which we are supposed to sign and return to them "year right, fat chance" I will sign and return.  I am so furious about this that I have closed my checking accoun with BOA and every member of my family will do the same.  This is highway robery. This is truly frustrating.

I too was ripped off by BOA. I was contacted via telephone by someone from Bank of America who verified my account by giving me my account information including my credit card account number, balance and last payment, so I assumed they were legit. They offered a credit protection service, even thought I declined they told me that they were going to send it to me anyway. They told me that they would send me an informational packet and if I didn't call them back at the BOA phone number they would begin charging my account in 30 days.  After two weeks of nothing from BOA, I contacted them and told them that someone from BOA had contacted me with only information that BOA agents should know and they informed me that I would not be charged for any credit protection services from them. Two weeks later my account was charged for $35.90 for IP INS PYMT 866-237-8236US.  I immediately called BOA formally disputed the charges over the phone and  in writing and promptly cancelled my credit card account with BOA; I went on to say that the charges are fraudulent and I was not going to pay them. They launched an investigation and determined that the charges were legitimate, I wonder why? If BOA had security problem, do you think they are willing to admit it, I seriously doubt it.

Well, today we received a letter from another Credit Card company explaining that we had too many accounts that were delinquent. We only have one, the fraudulent charges from Bank of America and because of these fraudulent charges they were going to cancel our account with them.

Catch this we don't carry any balances on any of our credit cards, except fraudulent charges that is. We had an excellent credit rating until BOA started messing with our credit score. Well two can play that game. If you are seriously interested in forming a class action lawsuit let it begin with me. Contact me via email at proudpapa@satx.rr.com and we'll see if we if we can get enough people together to get something done on this.
Thank you,
ProudPapa

this is the phone number of the following insurance company:

Plan Administrator
8420 West Bryn Mawr, Suite 700
Chicago, IL 60631