Consumer complaint received 2023-08-31
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
To : Consumer Financial Protection Bureau. 
Date XXXX XX/XX/2023 Subject : Bank of America ATM failed to deposit money to savings account and did not returned the money Hello my name is XXXX XXXX. Yesterday XX/XX/2023 at approximately XXXX XXXX XXXX XXXX. I deposited {$4200.00} in cash to my savings account ending in XXXX at a Bank of America ATM. The ATM ID is XXXX and it is located at this address XXXX XXXX XXXX XXXX, XXXX, CA XXXX. The ATM malfunction and displayed a transaction error and did not return my money or provide me with a receipt. I proceed to check my savings account and it did not show that my money was deposited. In an attempt to have some type of record ; I deposited {$300.00} to my checking account to capture the time and date to have an approximation of the time for the previous transaction. This transaction was successfully completed and I have attached that receipt to this complaint to provide you a narrow window to facilitate your investigation. I immediately contacted the costumer support of Bank of America and submitted a claim at approximately XXXX XXXX XXXX XXXX. The Claim ID is XXXX. I was told by the representative of Bank of America that it would take their Financial Investigation Unit 2 to 10 days to provide me with a credit in the amount of {$4200.00} and it could take them as long a 45 days to complete the process. I contacted the costumer support of Bank of America again at approximately XXXX to see if I could get a copy of my transactions from the representative as the previous representative explained that there was a record of a deposit transaction but it in their system it showed as {$0.00}. When I asked the representative, if he could email me this information he refused. The ATM has a camera and it would be easy for them to see that I indeed made this deposit. As it was after XXXX and the bank had already closed ; I had no recourse but to wait until XX/XX/2023 to speak with the XXXX in person. I stopped by today XX/XX/2023 at the aforementioned Bank of America location and spoke with a manager. The manager explained that there is nothing that they can not due to help and that I have to wait until Bank of America decides to give me my money back. They explained that by Federal regulation they can wait until the 10 days and then they are forced by law to credit my money to me. As I did not find this answer satisfactory, I contacted the Bank of America Claims Department at XXXX. I spoke with XXXX who again repeated the same information and then escalated my claim as an emergency status as I explained to them that I need this money to pay my bills. I then requested to speak with a supervisor. XXXX who is XXXX 's supervisor, proceeded to tell me that their Financial Investigation Unit does not have a contact number and that, if my claim was deemed worthy of the emergency status it would take them up to XXXX hours to credit me my money. I have to wait for their response as they say they can not help. I explained to XXXX that this was not satisfactory and that as a costumer the burden is put on my even thought it was their equipment that malfunction and they are holding my money XXXX and if they decide that they are not going to give me my money back they can do that as well. I also proceeded to contact the Bank of America Credit Card Department as I was going to use this money to pay for my credit card. The representative XXXX told me that there was nothing they can do to help at this time and that I would have to wait until I was late on my payment and then they could help me, mean while Bank of America would still penalize me for being late and then maybe if they deemed that it was their mistake they would wave the fees but that this could also affect my XXXX XXXX in a negative way. 

Very respectfully, XXXX XXXX XXXX XXXX

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 monetary relief