Consumer complaint received 2023-08-29
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NC
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
XX/XX/2023 at XXXX I got paid for work, for a job that I did via a XXXX payment in the amount of {$1000.00}, confirmation number : XXXX. The Payment ID : XXXX. I immediately got the notification & immediately logged into my XXXX XXXX Account, that has my Bank Of America account linked, to transfer the full {$1000.00}. It landed in my XXXX XXXX Credit Card instead of my checking account, because it was said that when I transfer from their end instead of Bank of America it can't go directly to my credit card. I contacted XXXX XXXX Credit Card customer service the next day when I noticed that issue. When I called XXXX XXXX, to request them to get understanding and then to request that they send the {$1000.00} to my checking account as it was intended to go to from the beginning, they said sure but they had to call Bank of America on three way to verify the funds were clear. We made the call, and on XX/XX/2023 the very next day Bank of America confirmed with XXXX XXXX that the funds were cleared as the day before, XX/XX/2023. XX/XX/2023, Bank of America was still using the {$1000.00} that was cleared XX/XX/2023, that I transferred on XX/XX/2023 immediately and the {$1000.00} showed up on my XXXX XXXX Credit Card same day right away. XX/XX/2023 Bank of America send an email ( that I didn't see until days later after seeing XXXX subtracted {$1000.00} from my account ) saying I didn't have enough money in my account. XX/XX/2023 XXXX XXXX sent a notification saying the " funds transfer has been returned to XXXX XXXX '' from Bank of America to XXXX XXXX in the amount of {$1000.00} and said return reason was " Insufficient Funds. '' We called on three way to try and handle the situation, Bank of America said I could add XXXX XXXX to the account so that I could transfer the money back to them, I tried to do it while they were on the phone and it said that I couldn't link the account both times that I tried although I've transferred before. So I took {$960.00} out of my Bank of America while on the phone and put it on my XXXX card, leaving {$39.00} in my Bank of America account and waiting until it cleared so that I could withdraw what was left and close the account. I then transferred that money immediately to my XXXX XXXX Checking ( I already had money in that account ). All this to say, Bank of America was double dipping in that money, causing XXXX XXXX to charge me an extra {$1000.00} on my credit card which also made my credit card balance be maxed out messing up my credit when I just got my credit to go up a lot of points, and because the " changed their mind '' about my funds being cleared a day before and decided to hold on to those funds. The {$1000.00} was reversed from my checking and credit card. Also, I made a cash deposit into Bank of America in the amount of {$130.00} and immediately withdrew {$120.00} the same day. Bank of America has on my statement that I deposited {$130.00} on XX/XX/2023 and withdrew {$120.00} on XX/XX/2023, how is any of that even possible. Summary : I am demanding that money back for that bad mishandling of money and having me to have to lose {$1000.00} that I was saving, also, putting wrong dates of transactions, withdraws and deposits, changing dates. Causing all this stress for the past month, for me losing money to drive around not only to Bank Of America, but all the way from XXXX to XXXX NC to XXXX XXXX, losing money by transferring from XXXX immediately, causing my credit card to Max out, my credit score to drop points, printing out all of my transactions from my end, slowing down my process of having that money for a deposit on a place, potentially delaying my process of having a good standing relationship with my new credit card and more.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation