Consumer complaint received 2022-11-03
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem caused by your funds being low
Sub-issue: Overdrafts and overdraft fees

Complaint:
On XX/XX/XXXX, Bank of America misappropriated funds from my credit card account ending in XXXX to my checking account ending in XXXX with stated reason that my checking account balance was insufficient to cover a transfer to my Bank of America Merrill Lynch brokerage account. What they might be claiming, although they didn't explain this to me and they have never done this before despite many transactions just like it over my years with them, is that my deposit on XX/XX/XXXX of {$4300.00} that raised my balance from {$700.00} to {$5000.00} was still pending and not available to transfer to Merrill Lynch, so the {$3000.00} transfer I made to my linked Merrill Lynch account on XX/XX/XXXX required additional funds. There are multiple issues with this reasoning. First, if they're claiming there were insufficient funds to transfer {$3000.00} from my checking to my linked brokerage, then why does the account balance on both the mobile app and the desktop browser show available funds in the black? Second, if funds were insufficient, then why did they allow the transfer to take place? The Merrill Lynch application only allows for transfer of available balances. Third, if funds were insufficient, then why was only {$130.00} transferred from my credit card to my checking to cover the " overdraft '' on XX/XX/XXXX? The amount should have been higher. 

I called their XXXX number on Thursday XX/XX/XXXX to speak to someone about it but was unable to get through to a human. On Saturday, XX/XX/XXXX I drove to a local branch at XXXX XXXX XXXX XXXX XXXX, CA XXXX and explained the issue to an employee. I showed them screenshots of the issue and the available balances. The employee said the staff was too busy with other customers. I said I'd wait. She said they had appointments booked all morning and that it would be unlikely anyone would be able to meet with me but that I could go into an empty office and call their XXXX number. That was at about XXXX XXXX. Their hours are from XXXX to XXXX so it seem very odd that they would be unable to find time to address my questions in person. 

I went into the empty office and called the XXXX number again. I was prompted to wait or enter my phone number and wait for a call back. The automated teller said it would be XXXX minutes and they would call me back if I press 1. Pressed 1. Rather than sit in an office, I went to the parking lot and sat in my car. They called my back in under XXXX minutes. 

The person who picked up was nice but she couldn't see my account information. Said their systems were having trouble. Could I give her my account number? So I signed into the banking app and gave her my account number. 

After struggling through their systems for XXXX minutes and putting me on hold, the person said their systems indicated I had insufficient funds to cover a transfer to Merrill, so they used my credit card to cover it.

I explained that my online checking balances on both the desktop and app clearly show I had funds and that Merrill showed available funds and allowed the transfer. Both the app and the browser indicated my checking account was comfortably in the black, but she said their systems show there was a lack of funds. I explained that customers don't have access to their systems. We only have access to the information they display to the customer. 

It seems that consumers can't even trust simple checking account balance information published by their own bankers. It seems Bank of America is actively trying to bait customers into making transactions that result in fees. We are no longer the bank 's customer. We're their income stream. 

She didn't know what to say to this. I expressed some pretty angry criticism and hung up. 

Bank of America knows I have a credit card balance that I'm carrying at XXXX percent interest for 18 months on the card they used to misappropriate funds to my checking. That means they will now charge me XXXX XXXX  interest every month on the overdraft protection. That's the scam. 

They have not followed up or made any attempt to resolve the situation. Taking time from the CFPB is my last resort. 

Supporting images are attached. Any help you can offer would be appreciated. Thank you.

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