Consumer complaint received 2023-07-01
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NJ
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem using a debit or ATM card

Complaint:
On Tuesday, XX/XX/2023 at XXXX I received a text message from Bank of America asking if I initiated a cash advanced transaction with XXXX for {$500.00} of which I immediately replied no. Bank of America then responded with a text stating that my account was restricted and instructed me to file a claim. I quickly logged into my account and was met with another message asking about the same {$500.00} XXXX transaction in which I clicked on decline. As I reviewed my checking account, I noticed that there had been three ( 3 ) {$500.00} cash advanced XXXX transactions of which I also did not authorize. The text message alerted me of a fourth attempt to withdraw another {$500.00} from my checking account. At this point, my checking account had been overdrawn and the transaction was taking the money from my savings account. I immediately called Bank of America to notify them of the four ( 4 ) unauthorized {$500.00} XXXX transactions of which they were able to stop the last one since I declined it. I clarified to the BoA agent that I had my debit card in hand and was in no way at any of the XXXX locations nor did know of this banking institution. I also explained that I habitually and regularly review my banking account information every morning as I start my day to make sure that my finances are in order as I had done earlier that morning in which my money was still in my account. The BoA agent had no sense of urgency and was making claims that I had already filed a claim for these transactions the night before of which was not true since the issue just took place a few minutes prior to my call. In a juvenile and nonchalant nature, he continued to argue with me and insist otherwise as he was only reading what he saw on his screen of which I then requested to speak to a supervisor. That supervisor was not privy to my transaction issue as the previous agent did not update her on the matter. As I had to once again explain what transpired and clarify that I had not yet filed a claim. She then confirmed that the previous agent was incorrect and a claim had not been opened and stated that she could proceed with opening a claim. I followed up with asking her why the bank could not put a hold on the first {$500.00} transactions as I have lost {$1500.00} of which I needed to pay rent due that week and urgently needed my money back. In a rude and unprofessional manner, she interrupted me to say that she had no control over what was taking place and she could not do anything over the fact that I have lost that amount of money. She then proceeded to transfer me to the fraud department without confirming that she had filed a claim on my behalf nor did she read me any disclaimer confirming the opened claim. Therefore, I did not know that a claim was opened when I finally spoke with the fraud department. To note, this subpar and inconsistent misinformation by BoA agents were consistent throughout the coming days in which I followed up with BoA regarding this matter. 

As I spoke with the fraud department agent, she explained that the {$1500.00} were on hold and have not left BoA and that I should see the money placed back into my account at the close of business day at XXXX that evening once the system updates the transactions status from pending to posted. She asked that I give the system time to catch up and that by the next morning I will see that money posted back into my account. The following morning, I once again reviewed my account and noticed that the money had not been placed back into my account as the previous agent stated. I immediately called BoAs fraud department at the opening of business day. The agent informed me that the previous agent I spoke with had misinformed me. She continued to explain that she could see on her screen a time and date stamp of XXXX for that night of when I will see my money returned to me as it has not left their institution. She stated that she would file a complaint on the previous BoA agent who provided me the misinformation, all of which added more stress to my predicament. When I checked my account that evening after XXXX, I was frustrated to see that yet another BoA agent had misinformed me on the status of my account. The following morning, the status for the three transactions totaling to {$1500.00} showed as posted which means that the money had in fact left my account and the BoA institution. I once again called BoA at open of business time, and that agent then explained that the previous agent was mistaken and that she would submit a complaint on my behalf. I made it very clear that I had been experiencing nothing but subpar service from all the BoA agents who all consistently provided me contracting information from each other in addition to the heightened stress that I was feeling from not having any money to pay my upcoming rent. The agent said that I would be temporarily credited the {$1500.00} from BoA within 10 days of which I countered to again explain that rent was already due and needed that money immediately. She offered to escalate the crediting process but that it would still take another two to three business day before I receive the credit. Luckily, I alerted my landlord of what took place and they were gracious enough to allow me to pay rent a few days late without any penalty. 
Most recently, on Tuesday, XX/XX/XXXX, I received an email alert from BoA stating that a {$1000.00} credit was provided to my checking account. I called their account services and they stated that it was due to a claim that I had opened on that day of which I did not do. I told the agent that this was an error and untrue as I have not called BoA regarding any claims since early XXXX. I was then transferred to the Debit Card Claims Department of where the agent there, after hearing my explanation, clarified that from the previous claim of {$1500.00}, {$500.00} of it was found to be an error and credited back tome permanently but that the remaining two ( 2 ) {$500.00} were not and the claim was closed either by accident or as an error. As such, instead of the BoA personnel continuing the investigation of the remaining {$1000.00}, they closed that existing claim and opened a new one for the just those {$1000.00}. None of that made sense to her entirely but she assured me that it is still being further investigated and she would also file [ yet ] another complaint about BoAs mismanagement. On Friday, XX/XX/XXXX, I received a robust letter from BoAs Resolution Specialist stating that in fact {$500.00} of the {$1500.00} claim were found to be an error but that the last {$1000.00} were legitimate and that I was responsible for them. He then falsely alleged that I called BoA on XXXX to dispute this conclusion and had a claimed opened of which is not true. Yes, I called BoA on XX/XX/XXXX as I stated above but I called to inquire on why I had been credited {$1000.00} into my checking account not knowing anything about a new claim and therefore, I could not have possibly called to dispute of a resolution and open a claim that I did not have any knowledge of. This is just another example that further demonstrates the high inadequacy of BoAs personnel. This robust letter by the Resolution Special provided no information to substantiate why a portion of those {$1500.00} were to be an error while the other were legitimate. How is that possible when all three of those {$500.00} unauthorized transactions took place seconds to minutes within each other and all from the same XXXX branch of XXXX? Additionally, the Consumer Financial Protection Bureau states that if money was taken from my account as a transaction using a debit card or electron fund transfer, that I may have protections under federal seeing as how I acted immediately to report the fraud. Bank of American has not specified XXXX actions or response regarding this matter but I am holding them liable as well as the fraud was committed through their banking institution branch and they do not seem to have any interest or urgency to diligently seek the truth as to how this happened. I will also be filing a sperate complaint against XXXX as a means of holding them accountable and having them investigated for their failure to work in having my stolen funds returned to my account. 
In closing, after 17 years of being a customer at Bank of America, I am beyond irritated with the high level of incompetency from all the unprofessional individuals who provided incorrect and contradicting information through this matter. In consistently experiencing such subpar service, yielding not even the shadows of world class service as they claim, I have happily decided to open a new account at another banking institution and entirely dissolve my relationship with Bank of America once this matter is completely resolved. As a result, I transferred my savings account funds out of BoA, closed that account of which I will do the same with my BoA checking account once this claim is correctly resolved and my stolen funds are permanently credited to me in full. I look forward to no longer having to associate myself and any of my business with Bank of America and their poorly trained, unprofessional agents and specialists.

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