Consumer complaint received 2018-04-23
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MO
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-issue: Problem with balance transfer

Complaint:
I processed a balance transfer off from my BOA credit card to my debit card on the XXXX of XXXX. After waiting the 7-10 business days I called in to check and they said to give it another couple of days. Still nothing so I called back and found out that the check was mailed to the wrong XXXX address. I asked to cancel the check and reissue to the correct address or do a wire transfer. They said to wait a few more days because they would hate to cancel the check and it be ready to be processed. So again, I waited. Still nothing so I called on XXXX the XXXX to cancel the check and reissue the transfer. That representative told me that it should not have let me put my debit card in as a transfer because it is for credit cards only and they check would not be deposited. So I put in another request this time for a XXXX transfer to my checking account at XXXX and XXXX to my credit card at XXXX. Right after my account was flagged for fraudulent activities. I logged in to my BOA account because I had still not received the funds to my checking account and it said to call the fraud number. They claim they were calling me with wrong numbers. I verify by my cell phone with every call so I am not sure what the disconnect is there. They were able to take off the hold on the balance transfer to my XXXX account. At first, he said it would be in my account by the XXXX ( 3 days ). I was upset and he was able to expedite this to tomorrow the XXXX. I asked him about my XXXX transfer to my XXXX credit card and he said it was canceled on the XXXX and would need to be processed again. He transferred me to that department. Understandably I was upset when the representative said it would take another 7-10 business days. I asked if it could be expedited due to BOA multiple errors. She assured me that it could not due to the timelines of processing with the other bank. I asked for a supervisor to see if they would be able to make things right. He said that the processing time is 3-4 days and would you like to process that now? I said can you do anything as a longtime customer with multiple issues regarding this transfer. He stated BOA does not have any type of incentive to make things right with customers when BOA makes mistakes. I understand they happen but as a big business, you would think you would have a department that would handle situations like this. His solution was to open a NEW account to save the 4 % balance transfer fee. Why would I want to open a new account with a business that treats their customers like this and does not try to make it right?! Opening a new account in no way offers anything to me to show their appreciation as a customer and to acknowledge BOA errors. I lost XXXX $ in interest due to their errors.

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