Consumer complaint received 2022-03-19
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: VA
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
Dear Sir/Madam : I am a U.S. veteran who has been banking with Bank of America since XXXX. I am a Bank of America preferred customer. On XX/XX/XXXX, I deposited a check to my Bank of America XXXX account sent to me by my mortgage company. It is a U.S.-based American company, XXXX. It was an annual review of my escrow balance. The XXXX sent me over {$7200.00}, which I overpaid during the past 12 months towards my escrow account. 

The balance of $ 7,200+ showed available the next day on XX/XX/XXXX. I already made plans to pay off some of my credit card balances by the end of XXXX and pay with this check towards my mortgage on XX/XX/XXXX. I also planned a trip to XXXX the week of XX/XX/XXXX, by purchasing plane tickets. 

However, on XX/XX/XXXX, the check balance was reduced by Bank of America noting as Returned Item. Now I have only {$700.00} in my savings account instead of almost {$8000.00}. 

I called the XXXX on XX/XX/XXXX, to find out why my check was returned assuming that the company cancelled. The XXXX representative informed me that it shows on their end that check was cashed. The representative assured me that there were no issues on their end and that I should call my bank. 

The same day, I went to a Bank of America branch in XXXX, XXXX where the local bank employees told me that they can not tell me the reason for the returned check. One of the representatives assumed that it could be due to recent XXXX sanctions. I explained to the representative that this check has nothing to do with a XXXX bank and that it came from my U.S.-based mortgage company. Instead of helping me further, the bank representatives asked to call customer service at a number in the bank of my debit card. 

I ended up calling the customer service line later in the day. The customer service answered after almost one hour hold. At that moment, I already wasted so much valuable time, expensive gas, and amortization on my vehicle just trying to find out a reasoning for returned check. The customer service representative took his time to look up my account and find the reason. The reason he gave me for Bank of America returning the check because it was not endorsed. I swear XXXX XXXXXXXX that I deposited so many similar checks without an endorsement into my Bank of America accounts in the last 17 years and this is the first time this happened to me. 

I asked the customer service rep to reverse the decision to which he responded that he cant. I asked him to transfer me to his supervisor. He said that his supervisor will tell me the same thing. I insisted to transfer me regardless. It took another 10 minutes for the supervisor to answer the call. Unfortunately, he said the same thing. When I asked him if the Bank is ready to loose a loyal preferred customer, he said no and that he still cant help me. Then, I asked him to transfer me to a customer retention department. He said that this is the customer service department and that they handle retentions. I informed him that I will leave the bank for this poor service. He just wished a good day. 

Then, I called my mortgage company back explaining what happened. The company said that I will have to get proper paperwork from my bank officially explaining what happened and submit it to the XXXX via postal mail. The company further said that it will take them up to 30 working days to review the case to reissue the check. Now, I am about to fly to XXXX for a weeklong vacation, which will further delay receipt of the new check. I might be late on my mortgage payment for XXXX because I was hoping to use some of these funds as a payment. 

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 explanation