Consumer complaint received 2023-09-19
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: GA
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem caused by your funds being low
Sub-issue: Late or other fees

Complaint:
Over the past year, Bank of America has kept failed wire transfer fees when either the wire was initiated using the self-directed wire transfer option under Transfer/payments online or in branch repeatedly. Can recall 3 failed wire transfers where Bank of America has kept the fees without properly reversing them to me timely. If Bank of America 's employees are unable to enter correct wire instructions and/or if their fields in the self-direct wire transfer were clear, conspicuous and understandable to an average person, then these wire transfer attempts would not have failed. Lastly, Bank of America does not provide the same wire transfer fields on the self-directed wire transfer under Transfer/payments, as it does when going into a branch, and having a representative to enter the fields. Bank of America makes it extremely easy to ACH and send money peer to peer, but has failed to create a user/ADA friendly wire transfer platform on its website. The fields that are asked from customers as myself are extremely different than wiring instructions provided by XXXX XXXX, XXXX XXXX, and XXXX. Due to these material differences, users like myself can not make timely and opportune transfers.In a couple instances, I have loss over XXXX XXXXXXXX in day trading/investing opportunity at my external brokerage accounts because Bank of America 's confusing, unconventional and cumbersome self-directed wire transfer platform. This is further uncovered by the fact that 3/4 time when I go to the Branch to have a wire performed, the branch representatives also find it difficult to use Bank of America 's wire transfer platform, and have great difficulty entering standardized wire instructions from other financial institutions onto its platform. Lastly, due to dilemma raised by the limitations of Bank of America 's self-directed wire transfer platform, customers like myself are forced to go into branches with an iota of hope to get wire transfers completed and completed successfully ; although as mentioned XXXX XXXX  reps have difficulty processing wire transfers on XXXX XXXX  platforms as well. XXXX knows that customers can not just walk into branches to perform wires, but they are encumbered by XXXX representative scheduling in which in some times are heavily booked and again financially injures customers like myself to wire money timely, notwithstanding the time, gas, pain, XXXX and emotional distress associated with jumping hoops to do such. In some instances, I have had to drive long distances just to find an available XXXX representative. These issues above have costs my thousands of dollars and lingering heartache and emotional distress as a result, because the Bank I have frequented business for years undermines my financial freedom/mobility and ability to generate wealth for myself and my family.

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