This is what BoFA rep wrote to me upon requesting that I cancel the account with AF refunded:
"Please note, the annual fee is an account service related fee and is a part of pricing features of the account. As such, the annual fee is non-refundable and we are not able to waive it. If an annual fee based account is closed and has a balance, there would be an annual fee assessed on it".
It has been mentioned on DDF numerous times that the law requires full AF refund within 60 days.
E.g.
60 days is the law.
Where is this law cited?
I am very curious about its existence, because multiple types of Google searches turned up nothing substantial.
And, do I need to convince rep to refund, or do I just cancel despite her warnings and the AF will reverse automatically?