Consumer complaint received 2021-12-07
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: AR
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
To summarize the issue, I made a mobile deposit into my Bank of America small business account. At the time of the deposit, the confirmation screen showed funds would be available to cover items posting that day. Relying on this information, I then wrote a check that day to a contractor for services provided. After the fact, BOA changed the deposited check status to show that the funds were on hold, causing the check written to the contractor to bounce. This has resulted in major repercussions and bank fees for both our business as well as the contractor we wrote the check to. This has also caused irreparable harm to our business reputation. As a new small business, bouncing checks is detrimental. I only wrote the check after seeing that the funds would be available to cover transactions posting that day. I would never have written a check if I had know the funds would not be available. After numerous attempts to get this issue resolved, BOA has refused to assist. Further, I find it unethical that BOA conveniently changes transaction history after the fact. No one we have spoken to will even acknowledge this. Had I not taken a screenshot, I would not even have evidence that the funds were supposed to be available. Please see the details below. 

As of XXXX, we had a balance of {$370.00} in our small business account. I made a mobile deposit for {$5000.00} via the banking app. The confirmation message said the funds would not be immediately available for withdrawal but would be available to cover items posting the same day ( I have the screenshot ). Shortly after that, I wrote a {$5200.00} check to XXXX of our contractors, expecting it to be covered. The contractor proceeded to deposit or cash the check that evening. 

By Sunday XXXX, we noticed a returned item fee on our account, though the balance was not yet reflecting that the check had been returned. The transaction history no longer showed funds available but had been changed to show that the {$5000.00} check deposit was on hold until XXXX. We were now concerned that the {$5200.00} check we had written would bounce. I was unable to get in contact with anyone for assistance that day. 

XXXX Attempt # XXXX I initiated a chat on the BOA website, but the chat bot couldnt even locate a check transaction, much less assist with the issue. It said it was connecting me with an agent, but it never did. 

XXXX Attempt # XXXX I then clicked on the Call Us button in the chat box. However, the line it connected me to said no one was available to take the call. Not sure if it was because it was a weekend, as no explanation was given. 

XXXX Attempt # XXXX My husband dialed the normal Customer Support line on Monday morning to inquire about the returned item fee. He was assured by the agent XXXX that the check would be covered and the transactions would be adjusted to reflect that within a day or XXXX. We were relieved by this. 

Then, on Tuesday XXXX, we were contacted by our contractor and notified that the {$5200.00} check had bounced. 

XXXX Attempt # XXXX I initiated another chat on the site, and the agent XXXX just told me that the funds were not available to cover the {$5200.00} check we had written. There was no acknowledgment of the fact that the check was supposed to be covered and there was no attempt to resolve the issue. 

XXXX Attempt # XXXX We called Customer Support again. The agent, XXXX, again explained that there were not enough funds available to cover the {$5200.00} check. We explained again that the funds should have been available based on the confirmation received when the {$5000.00} check was deposited. She was unable to see any notes in the transaction history showing funds were available on XXXX, only the note that the {$5000.00} check was being held until XXXX. She put in a request for a manager to release the funds early, however that request was denied. We were told that they could only do an early release for hardship reasons. XXXX was unable to define hardship for us. I would consider the fact that we wrote a check in good faith, then it bounced because BOA changed the check status after the fact, and all parties involved are now facing fees and repercussions to be a hardship. Apparently the Manager did not agree. I asked to speak directly to this manager, but I was told that wasnt possible and XXXX put in a request for her supervisor to call us back by the end of the day. 

In the meantime, XXXX stated that BOA could not reverse the return of the check. We would have to wait until it cleared on XXXX, and our contractor would have to re-deposit the check at that time. She further stated that BOA would not reimburse any fees incurred by us or the contractoXXXX resulting from this issue.

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 non-monetary relief