Consumer complaint received 2019-01-01
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem with a lender or other company charging your account
Sub-issue: Transaction was not authorized

Complaint:
To Whom It May Concern : On Tuesday, XX/XX/2018, I met with Bank of America banking specialist XXXX XXXX at my local BofA branch to put a stop payment on my Florida XXXX XXXX XXXX XXXX insurance policy payment, which was to have been withdrawn on the first of the month ( XX/XX/2018 ) from my personal checking account. It was confirmed to me by Ms. XXXX that the stop payment had been effected and that NO FURTHER MONEY would be deducted from my account by Florida XXXX XXXX XXXX XXXX as of that date ( Tuesday, XX/XX/2018 ). 

I then asked Ms. XXXX if I may have a printed acknowledgment that the stop payment had been effected and was told that there was nothing she could/would provide, but assured me that the stop payment had been effected. 

( On XX/XX/2018, I cancelled my Florida XXXX XXXX XXXX XXXX policy effective midnight, XX/XX/2018. ) On Monday, XX/XX/2018, Florida XXXX XXXX XXXX XXXX withdrew $ XXXX from my personal checking accountI was notified, as per the usual, via emailin spite of my having effected a stop payment with Ms. XXXX at my local BofA branch 13 days prior. On checking my personal checking account balance, I also noted that I had been charged {$30.00} for the stop payment. 

So, I called Ms. XXXX to request that the {$30.00} stop payment fee be refunded, as the stop payment had not, in fact, worked. Ms. XXXX told me that, that was not possible and that the $ XXXX payment would be reversed at midnight that same night. 

I explained to Ms. XXXX that I did not find it an equitable arrangement that I would have to pay {$30.00} for a stop payment that did not stop a payment of $ XXXX from being withdrawn from my personal checking account, effectively PREVENTING ME FROM HAVING ACCESS TO MY OWN MONEY until after midnight ( effectively, the following day ). 

Additionally, it was confirmed to me via BofA 's customer service XXXX # that Florida XXXX XXXX XXXX XXXX will be able to do this every month if the cancellation is not effected correctly on their end : take $ XXXX out of my account ; and there is NOTHING that can be done about it because " that is just how a stop payment works. '' Consumers SHOULD have some protection regarding the above. In the case noted above, Bank of America is acting as a collection agent for Florida XXXX XXXX XXXX XXXX, protecting their ability to draft money from a private citizen 's account, AND as a vendor to said citizen, charging a fee for a service that, in this case, was not duly rendered. 

That Florida XXXX XXXX XXXX XXXX failed to notify the Federal health exchange that the Florida XXXX XXXX XXXX XXXX policy had been cancelled is not a valid reason for, ( A ) maintaining the fee associated with my very timely request to cancel said deduction ; and ( B ) preventing me from accessing MY MONEY for a period of 24 hours. 

Please know that I will assist you however I may to stop this very unfair, onerous practiceeffectively taking money out of someone's account for 24 hours with impunityfrom being acceptable banking procedure. If I am going to be charged {$30.00} by Bank of America for a STOP PAYMENT to be effected, then I have a reasonable right of expectation that said payment WILL BE STOPPED. 

Thank you very much for your time and consideration.

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