Consumer complaint received 2022-01-11
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem using a debit or ATM card

Complaint:
This Complaint stems from Bank of America ( BoA ) 's partial denial of my reported fraud and failure to reimburse my checking account with defrauded amounts. 

On or about XX/XX/2020, while I was on vacation in XXXX XXXX, I had my phone stolen. My phone was tied to various digital payment methods directly connected to my BoA checking account ( i.e XXXX XXXX ). As soon as it was stolen I immediately checked all of my accounts to check for fraudulent transactions. I noticed 3 transactions for {$500.00} each on my BoA checking account made via XXXX XXXX on my phone. I immediately contacted BoA in order to apprise them of these fraudulent transactions in order to protect the remainder of funds in my account. I was very specific in informing them that it was my phone which was stolen and connected to the checking account and not my actual debit card related to it. Negligently, they terminated my debit card and issued a new one instead of outright protecting my account ( i.e. freezing it ). Although, they informed me that they are on it and will undertake the necessary measures to protect my account and that the transactions are under review. 

The following day I noticed various other consecutive transactions being attempted on that account which were not yet processed but appearing in my account. Basically dwindling approximately {$18000.00} worth of funds down to {$500.00}. Most of these transactions were back to back to back, yet BoA did nothing to prevent them or lock my account. I figured since they have not processed BoA will resolve them before they go through. When I attempted to contact them their automated message would just tell me that " no further action is needed on my behalf. '' The next day I started to notice all of the transactions fraudulently done start to go through and take my entire balance almost down to {$0.00}. I immediately called BoA to find out more details and they told me that they had not protected my account, but only terminated my debit card and issued a new one ( I never informed them that my debit card was stolen and that I needed a new one ). They told me I should have informed them to freeze my account even though I am not aware of their protocols and procedures to protect an account. So, they input various claims for me separately depending on their method ( i.e. XXXX, XXXX XXXX, XXXX ) Claim XXXX- XXXX for {$5000.00} ; XXXX XXXX for {$10000.00} and {$1500.00} ; XXXX for {$1000.00}. 

Ultimately, at this time they have only reimbursed me {$1000.00} for the fraudulent XXXX transaction. They have given me {$5000.00} 'provisional credit ' for the fraudulent XXXX XXXX. Although, they have denied my claims for the XXXX XXXX XXXX transactions ( {$1500.00} the initial fraud amount informed of and {$10000.00} for transactions conducted consecutively by the perpetrator ). 

I have cooperated and attempted to work with BoA in all aspects yet they are denying me my money. Even though I have provided them ample evidence such as my ID having to be replaced ( it was stolen as well ) ; fraudulent transactions attempted on my XXXX card ( which was also stolen as it was on the back of my phone alongside my ID ). XXXX has reimbursed me. The perpetrator also created an XXXX XXXX card and made up to {$5000.00} in transactions which were also reported and have been addressed. Yet, BoA refused to utilize any of this information and continues to maintain their stance that the those transactions were not fraudulent. 

This is causing a massive undue hardship to me as it is a lot of money for me and it has, in many ways, rendered me to be late on various bills and obligations. I am not sure, other than submitting this complaint, as to what other measures I can take. Hopefully, with this information you can help me resolve this issue. Thank you! 

I have attached the various documents which I provided to BoA to evidence fraud affecting my accounts.

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