Consumer complaint received 2022-11-07
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem when making payments
Sub-issue: Problem during payment process

Complaint:
On XX/XX/2022, I made a payment online at the Bank of America site to my Bank of America XXXX, ending in XXXX. This payment was for the account balance in the amount of {$550.00}. Payment indicated it processed successfully and confirmation was received.

However, this payment, when it hit the bank account assigned, which was XXXX XXXX, where the amount would be debited, as directed by me, .. it debited or attempted to, in the amount of {$55000.00} I did not direct a payment in the amount of {$55000.00}. Nor do I have funds to cover a {$55000.00} payment. This, subsequently overdrew my XXXX XXXX account, to the amount of {$46000.00}, rendering my XXXX XXXX account useless, until that was corrected, which was an overnight process. By the start of the next business day the XXXX XXXX account balance was corrected and again usable, and so my complaint is not with XXXX XXXX. My complaint is with Bank of America. 

On XX/XX/XXXX, when it became apparent through alert from XXXX XXXX as to my severely overdrawn account, I investigated the matter. This is when I learned, that payment I directed to be drawn from XXXX XXXX funds, which should have been in the amount of {$550.00}, somehow changed in the digital cyber world, to {$55000.00} and mysteriously there doesn't seem there is an explanation for how this might've occurred. 

The problem exacerbated from there forward with Bank of America. On XX/XX/XXXX, when this all became apparent, I contacted Bank of America and was assured, the funds aren't there, at XXXX XXXX, this will all self-correct, once it's apparent the funds aren't there to make that payment, and your Bank of America credit card will again be usable. Not so. 

On XX/XX/XXXX, when that Bank of America XXXX was still not usable, .. because a mysterious payment of {$55000.00} hangs in the balance somewhere, .. the card was placed on hold as to any ability to use it, I visited the bank and spoke with a specialist there at the site, Bank of AmericaXXXX XXXX XXXX XXXX XXXX XXXX XXXX FL. The representative 's name was XXXX XXXX. 

She assured the matter would *self correct* once the mistaken funds were not drawn and the credit card would then again be usable. Not so. She explained that it's a matter the system will try to collect that payment, it will see the payment is incorrect, and self correct, .. and when that occurs, the credit card will automatically self correct, and hold will be lifted. When I explained that this credit card is used by an authorized user we have assigned, and for business expenses, and we need the hold lifted immediately, she then recommended we contact Fraud Specialists, to see if the hold can be lifted. 

Some XX/XX/XXXXon the phone to speak to that department, the representative there, indicated it would be a XXXX day hold. 

Bear in mind, none of this was a mistake on my end, in having entered an incorrect amount for payment. The payment was directed to be the {$550.00} as shown on the online account, to bring the credit card to a XXXX balance. And that amount shows on the online site. 

It was explained at that point, that a 2 day hold would be in place,. and the account would then be usable again. 

That has not occurred. Today is XX/XX/XXXX, and the card is still not in fact usable and shows as having to try to collect that {$55000.00} an amount that is not what I directed, nor is it collectable, nor is it even the credit limit on the Bank of America XXXX. The credit limit is {$2500.00} and even the use of that amount has been restricted. The credit card, as a whole, has been placed on a hold. 

Another call today, and reached a XXXX in XXXX NC .. and informed today that a 5 day hold was placed on XX/XX/XXXX. This is the first I have heard of any 5 day hold. 

XXXX XXXX at your branch office, did not provide this as the information for the issue, nor did any of the prior phone representatives. 

My issue is this is a card we allow an authorized user to utilize for business expenses, and the card is now, almost a week later, still rendered useless, through no fault of our own and the fact Bank of America can not be more responsive and more to the point, accurate in how this is resolved, and to the satisfaction of the card holder. 

No one at Bank of America has been willing to show any ownership to this issue, and help to resolve this matter in any semblance of what would be considered a timely matter, and certainly not accurately. 

I would appreciate some response to this matter.

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