Consumer complaint received 2018-07-25
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Other transaction problem

Complaint:
I received funds through an online transfer on XX/XX/XXXX from a person named XXXX XXXX for {$2400.00} USD, it was an online transaction between both of us. 

After checking that the funds were there I released the goods. 1 or 2 hours later I check my account to see that my account has been put on hold with a debit of XXXX USD WITHOUT ANY FORM OF CONTACT FROM THE BANK OR WARNING. I call the bank and the person on the other side of the line tells me that I should not worry too much and that the person I made business with filled fraud with the bank, he apologized and tells me to call again on monday to free up the rest of my funds. I tell him right away if there is anything he needs like receipts to help the bank, he said 'no, don't worry ... someone will contact you if needed '. 

I call on monday, to ask for the funds to be released and to see how everything is going ... The person tells me it won't be possible until 10 business days have passed and all my funds would be frozen ( Literally all the money I have ) and with the negative debit I couldn't even ask family or friends to lend me for a bit. 

I called again after talking to my lawyer that stated that it wasn't allowed to put such a hold on ALL my funds without a warning or consent from my part specially since I had not done anything illegal to which they say that they are very sorry for troubling me so much and that they are doing everything they can and that I should not worry because they are just investigating the person that filed the claim, they ask me for patience. 

I tried to log in 3 days ago to my bank of america online ID and I see that I can't ... Check my email and it says I ASKED for my online ID to be taken down, I called again and they said that the online ID was taken down because their investigation proved that the person that sent the money had her security breached and that the funds were sent by a hacker so that they will be taking the money from MY ACCOUNT DUE TO THEIR BAD SECURITY MEASURES THAT ALLOWED SOMEONE TO USE ANOTHER PERSON ACCOUNT FOR MORE THAN 4 HOURS WHILE SHE WAS DOING BUSINESS WITH ME and that MY ACCOUNT WOULD BE REVIEWED BUT THAT I SHOULDN'T WORRIED BECAUSE IF THEY WANTED THE  ACCOUNT CLOSED IT WOULD ALREADY BE ... " So wait 3 to 5 more business days to be free of accessing your money online ''. 

I get a call today from them, they are closing my account and when I complain because I didn't do anything illegal and ALL THE PROBLEM WAS THEIR SECURITY MEASURES, so the person on the phone tells me I committed fraud because I DIDNT CALL THE BANK ABOUT THE TRANSFER, REALLY? Probably 10 YEARS WITH THE ACCOUNT and NOW YOU CALL ME A DELINQUENT? You effectively took out money from my account that ACCORDING TO YOU WAS HACKED FROM ANOTHER CLIENT ACCOUNT AND YOU HOLD ME RESPONSIBLE?. Run from this bank if you are thinking of opening an account, they will help people scam you by REVERSING a NON REFUNDABLE TRANSFER that CLEARLY STATES IT IS IN ITS TERMS OF SERVICE which was the reason you trusted on giving goods to the other person and lock your money down. 25 days without MY money available and counting. 

The caps are used for emphasis only, and to this very moment ... 25 days have passed since all this started.

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